302 Midget St · San Angelo, TX 76901

$199,000

4 bd · 1.5 ba · 858 sqft · SingleFamily public records · 66 Days on market

Built 1959 8,276 sqft lot $232/sqft · 96% above area Est $212k · 6% under ↓ 10% since listing

---

Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +10.9/30.0
• ARV discount +10.3/15.0
• Appreciation +10.0/10.0
• Rent growth +3.9/5.0
• 1% rule +3.7/10.0
• Livability +3.7/5.0
• DSCR +3.2/10.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0

Listing remarks MLS

This well maintained home with lots of natural light offers 4 bedrooms and 1.5 bathrooms with an open concept feel. The patio off of the kitchen offers great entertainment space. The 4th bedroom has a separate entrance that could serve as an office, or guest area. There is a large storage unit, and a separate building with it's own electrical panel and window unit. Updates since purchase: electrical panel, gutters, paint, tub, fixtures, refrigerator, floor, mini-split. Call for your private showing today.

Key facts

• Separate entrance
• Separate building
• Open concept

Tags

• NATURAL LIGHT
• OPEN CONCEPT
• PATIO
• SEPARATE ENTRANCE
• LARGE STORAGE UNIT
• SEPARATE BUILDING

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $199k.

Deal economics

• At list price, monthly cash flow is $-88 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $184k (7.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $173k (13.2% below list).
• Recommended offer: $173k (13.2% below list) — sets the bar for 1% rule.
• Cap rate 5.8% vs local median 3.8% in San Angelo — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 73/100 on livability (#199 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, schools F, amenities F.
• San Angelo ISD (urban): math 27% / reading 33% proficiency, ranked #627 of 826 in TX (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+5.8%/yr); 331 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 233 units permitted in Tom Green County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $21k of equity ($1k loan paydown + $20k appreciation (10.0% local appreciation)).
• Tom Green County population projected at +35% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($187k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $172,643 (13.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
3. Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.87% ✗
• Cap rate: 5.76%
• Cash-on-cash: -1.89%
• DSCR: 0.92
• GRM: 9.6

CMA / ARV

• ARV (median comp): $212,174
• List price: $199,000
• Delta: -6.21%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 5.78% rent growth · sell at horizon

5-year hold

• IRR: 23.9%
• Equity multiple: 2.94×
• Total profit: $107,834
• Equity at exit: $179,275

10-year hold

• IRR: 22.0%
• Equity multiple: 6.98×
• Total profit: $333,357
• Equity at exit: $386,613

Cash invested: $55,720 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Texas: 87 Strongly Landlord-Friendly · R+5
• County: — inherits STATE
• City: — inherits STATE

3-day notice; statewide preemption; one of the fastest eviction climates; Travis County (Austin) slightly slower.

Methodology + full state rankings →

ZIP-level market 76901

• Home prices YoY: 6.4%
• Rents YoY: 5.8%
• Active inventory: 331
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $1,726 medium
• Mortgage (P&I): −$1,044
• Tax from tax record: −$325 /mo · $3,900/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$363
• Net cashflow: $-88

Break-even live

Break-even rent $1,837

Max offer price $183,515

Occupancy floor —

Sensitivity live

Price	-10% $25	-5% $-31	+0% $-88	+5% $-144	+10% $-200
Rent	-10% $-224	-5% $-156	+0% $-88	+5% $-19	+10% $49
Rate	-1.0pp $13	-0.5pp $-37	base $-88	+0.5pp $-139	+1.0pp $-192

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2630 Waco St San Angelo, TX	3.0	2.0	1024	$1,600	$1.56	22d	1	0.98mi
1405 Hassell St San Angelo, TX	3.0	2.0	1064	$1,950	$1.83	44d	1	1.35mi
3755 Arden Rd San Angelo, TX	2.0–3.0	1.0	875	$1,025	$1.17	22d	1	1.43mi
2431 College Hills Blvd San Angelo, TX	1.0–3.0	1.0–2.0	1025	$1,609	$1.57	22d	17	1.45mi

Listing history 8 events

1. 2026-05-31
   days on market $199,000 Active 66 DOM
2. 2026-05-30
   days on market $199,000 Active 65 DOM
3. 2026-05-13
   price $199,000 510-char remark

   Show marketing remark (510 chars)

   This well maintained home with lots of natural light offers 4 bedrooms and 1.5 bathrooms with an open concept feel. The patio off of the kitchen offers great entertainment space. The 4th bedroom has a separate entrance that could serve as an office, or guest area. There is a large storage unit, and a separate building with it's own electrical panel and window unit. Updates since purchase: electrical panel, gutters, paint, tub, fixtures, refrigerator, floor, mini-split. Call for your private showing today.

4. 2026-04-30
   price $205,000 510-char remark

   Show marketing remark (510 chars)

   This well maintained home with lots of natural light offers 4 bedrooms and 1.5 bathrooms with an open concept feel. The patio off of the kitchen offers great entertainment space. The 4th bedroom has a separate entrance that could serve as an office, or guest area. There is a large storage unit, and a separate building with it's own electrical panel and window unit. Updates since purchase: electrical panel, gutters, paint, tub, fixtures, refrigerator, floor, mini-split. Call for your private showing today.

5. 2026-04-17
   price $215,000 510-char remark

   Show marketing remark (510 chars)

   This well maintained home with lots of natural light offers 4 bedrooms and 1.5 bathrooms with an open concept feel. The patio off of the kitchen offers great entertainment space. The 4th bedroom has a separate entrance that could serve as an office, or guest area. There is a large storage unit, and a separate building with it's own electrical panel and window unit. Updates since purchase: electrical panel, gutters, paint, tub, fixtures, refrigerator, floor, mini-split. Call for your private showing today.

6. 2026-04-08
   price $218,000 510-char remark

   Show marketing remark (510 chars)

   This well maintained home with lots of natural light offers 4 bedrooms and 1.5 bathrooms with an open concept feel. The patio off of the kitchen offers great entertainment space. The 4th bedroom has a separate entrance that could serve as an office, or guest area. There is a large storage unit, and a separate building with it's own electrical panel and window unit. Updates since purchase: electrical panel, gutters, paint, tub, fixtures, refrigerator, floor, mini-split. Call for your private showing today.

7. 2026-03-26
   listed $220,000 Active 510-char remark

   Show marketing remark (510 chars)

   This well maintained home with lots of natural light offers 4 bedrooms and 1.5 bathrooms with an open concept feel. The patio off of the kitchen offers great entertainment space. The 4th bedroom has a separate entrance that could serve as an office, or guest area. There is a large storage unit, and a separate building with it's own electrical panel and window unit. Updates since purchase: electrical panel, gutters, paint, tub, fixtures, refrigerator, floor, mini-split. Call for your private showing today.

8. 2023-05-23
   soldstatus

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast TX · Resets to sale price

• Current annual tax: $3,900 · $325/mo
• Projected year-2 tax: $3,900 · $325/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥104°F today · 23 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 13% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,717
• − Mortgage interest: −$11,147
• − Property taxes: −$3,900
• − Insurance: −$995
• − Repairs & maintenance: −$1,657
• − Management: −$1,657
• − Depreciation: −$5,789
• Taxable loss: −$4,429
• Est. tax savings @ 24.0%: +$1,063
• After-tax cash flow: $11/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: San Angelo ISD
• NCES district ID: 4838700
• Math proficiency: 27% ▼ -9.00%
• Reading proficiency: 33% ▼ -3.00%
• Median HH income: $43,501
• Composite: 25.56/100
• National rank: #7427
• State rank: #627 of 826 in TX

Livability — San Angelo

• Score: 73/100
• State rank: #199
• US rank: #5030

Category grades

Amenities F Commute F Cost of living A+ Crime C+ Employment C- Housing A+ Health & safety A+ User ratings D+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: San Angelo, TX
• County: Tom Green County · 113,188 people
• City population: 81,357
• Metro: San Angelo, TX
• Population (ZIP): 31,831
• Household income: $69,450
• Rent vs Own: 29.0% rent · 71.0% own
• Severe rent burden: 1034.0

Population outlook (Tom Green County) Hauer SSP2

• Today (2025): 135,110 people
• By 2030: 144,090 · +6.6%
• By 2040: 162,561 · +20.3%
• By 2050: 182,158 · +34.8%
• By 2075: 232,274 · +71.9%
• By 2100: 268,218 · +98.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (55%)
• Race & ethnicity: White 55% Hispanic / Latino 41% Two or more races 17% Black 2%
• Hispanic origin (detail): Mexican 38%
• Common ancestry: Lithuanian 3% Slovak 3% Iranian 1%
• Foreign-born: 5% · Canada
• Languages at home: 77% English-only · Spanish 21% German/W. Germanic 1%

Political lean MEDSL · Tom Green

• 2024 margin: Solid R (+48.0) · D 25.5% · R 73.5% · Other 1.0%
• 2008→2024 swing: -6.3pp toward R · 2008: -41.7pp · 2024: -48.0pp
• All cycles: 2024: R+48.0 2020: R+44.4 2016: R+47.9 2012: R+47.9 2008: R+41.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 47.96%
• Current HPI: 798.58
• Rent YoY: ▲ 5.78%
• Metro: San Angelo, TX
• State GDP YoY: ▲ 3.95%
• F500 in state: 110

Industry mix (Fortune 500 HQ in TX)

Industry	F500 HQs	Revenue
▸Energy	16	$1,198B
▸Technology	5	$198B
▸Engineering / Construction	4	$72B
▸Energy Services	3	$60B
▸Utilities	3	$41B
▸Healthcare	2	$330B

Price history

-9.5% since first listed

6 events — show timeline

• 2026-05-13 Price Changed $199,000 SAAR TX
• 2026-04-30 Price Changed $205,000 SAAR TX
• 2026-04-17 Price Changed $215,000 SAAR TX
• 2026-04-08 Price Changed $218,000 SAAR TX
• 2026-03-26 Listed $220,000 SAAR TX
• 2023-05-23 Sold (Public Records) — Public Records

Property tax history

+5.4%/yr

Latest (2025): $3,900 · +16.7% YoY. Source: county tax records.