201 W Mink St · Willis, TX 77378

$325,000

6 bd · 2.0 ba · 2,600 sqft · MultiFamily public records · 31 Days on market

Built 1977 6,874 sqft lot

---

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 +21.3/30.0
• ARV discount +7.5/15.0
• DSCR +6.8/10.0
• 1% rule +5.9/10.0
• Schools +3.2/10.0
• Livability +3.1/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.9/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Fantastic home in the heart of Willis! This open and welcoming 2 bedroom, 1 bath home has been beautifully updated and lives so big for it's cozy size. Offering many wonderful features such as the large kitchen with granite countertops & stainless appliances, pantry & laundry room tucked neatly behind a pocket door, two very generously sized bedrooms, large walk-in closet in the primary and built-in storage spaces. The fenced backyard has a carport/patio area and a 24X30 insulated building with a/c that could a garage, workshop or converted to additional living space. Conveniently located close to I-45, the new HEB and so much more. Don't miss this great opportunity!

Key facts

• Move in ready
• Functional layouts
• 6,874 sq ft lot

Tags

• WELL MAINTAINED DUPLEX
• SPACIOUS LIVING AREAS
• FUNCTIONAL LAYOUTS
• IMMEDIATE RENTAL INCOME
• MOVE IN READY
• EASY ACCESS TO MAJOR FREEWAYS

Property features AI

Exterior

• Security: Fire alarm
• Home design: Residential income property; 2 total units
• Construction: Wood siding; Metal roof; Built in 1977
• Exterior features: Private entrance; Patio; Partial fencing; Near public transit

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Refrigerator
• Flooring: Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air (electric)
• Interior features: Granite counters; Window treatments; Ceiling fan(s); Window coverings
• Laundry & utility: Washer hookup; Dryer hookup

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $325k.

Deal economics

• At list price, monthly cash flow is $478 ($6k/yr) — positive. Per door: $239/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $325k).
• Recommended offer: $315k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.1% vs local median 4.7% in Willis — 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 62/100 on livability (#933 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, employment D+, amenities F.
• Willis ISD (rural): math 33% / reading 40% proficiency, ranked #458 of 826 in TX (top 55%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Robert P Brabham Middle (math 33% / reading 41%, grade F, #756 of 1,662 statewide, top 47%, 1,117 students, 52% FRL); Willis H S (math 19% / reading 46%, grade F, #1,029 of 1,632 statewide, top 64%, 2,521 students, 57% FRL) — zoned schools at 54% FRL track the district average.
• Market conditions: Rents flat; 710 active listings in the ZIP; 13,259 units permitted in Montgomery County in 2024 (1,402 in 5+ unit buildings).
• At $3,544/mo this rent would consume 60% of the median local household income ($71k/yr) (locally 402% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Montgomery County population projected at +65% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($315k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 25y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $315,250 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.09% ✓
• Cap rate: 8.06%
• Cash-on-cash: 6.31%
• DSCR: 1.28
• GRM: 7.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.98% rent growth · sell at horizon

5-year hold

• IRR: -8.9%
• Equity multiple: 0.68×
• Total profit: $-29,166
• Equity at exit: $48,459

10-year hold

• IRR: -2.4%
• Equity multiple: 0.85×
• Total profit: $-13,594
• Equity at exit: $28,100

Cash invested: $91,000 (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 77378

• Home prices YoY: -3.0%
• Rents YoY: 1.0%
• Active inventory: 710
• Price-to-rent: 15.3×

Monthly cashflow live

• Estimated rent: $3,544 high
• Mortgage (P&I): −$1,704
• Tax from tax record: −$482 /mo · $5,781/yr
• Insurance: −$135
• HOA: −$0
• Vacancy / Maint / Mgmt: −$744
• Net cashflow: $478

Break-even live

Break-even rent $2,939

Max offer price $325,000

Occupancy floor 82%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,544
Total (2 units)			$3,544

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: $81,250
• Closing costs: $9,750
• Reserves months: —
• Total cash needed: —

Listing history 44 events

1. 2026-06-18
   days on market $325,000 Active 31 DOM
2. 2026-06-17
   days on market $325,000 Active 30 DOM
3. 2026-06-16
   days on market $325,000 Active 29 DOM
4. 2026-06-15
   days on market $325,000 Active 28 DOM
5. 2026-06-13
   days on market $325,000 Active 26 DOM
6. 2026-06-09
   days on market $325,000 Active 22 DOM
7. 2026-06-08
   days on market $325,000 Active 21 DOM
8. 2026-06-07
   days on market $325,000 Active 20 DOM
9. 2026-06-04
   days on market $325,000 Active 17 DOM
10. 2026-06-03
    days on market $325,000 Active 16 DOM
11. 2026-06-02
    days on market $325,000 Active 15 DOM
12. 2026-06-01
    days on market $325,000 Active 14 DOM
13. 2026-05-31
    days on market $325,000 Active 13 DOM
14. 2026-05-18
    listed $325,000 Active
15. 2023-10-17
    soldstatus
16. 2023-03-20
    soldstatus Sold 687-char remark

    Show marketing remark (687 chars)

    Fantastic home in the heart of Willis! This open and welcoming 2 bedroom, 1 bath home has been beautifully updated and lives so big for it's cozy size. Offering many wonderful features such as the large kitchen with granite countertops & stainless appliances, pantry & laundry room tucked neatly behind a pocket door, two very generously sized bedrooms, large walk-in closet in the primary and built-in storage spaces. The fenced backyard has a carport/patio area and a 24X30 insulated building with a/c that could a garage, workshop or converted to additional living space. Conveniently located close to I-45, the new HEB and so much more. Don't miss this great opportunity!

17. 2023-03-18
    status Pending 687-char remark

    Show marketing remark (687 chars)

    Fantastic home in the heart of Willis! This open and welcoming 2 bedroom, 1 bath home has been beautifully updated and lives so big for it's cozy size. Offering many wonderful features such as the large kitchen with granite countertops & stainless appliances, pantry & laundry room tucked neatly behind a pocket door, two very generously sized bedrooms, large walk-in closet in the primary and built-in storage spaces. The fenced backyard has a carport/patio area and a 24X30 insulated building with a/c that could a garage, workshop or converted to additional living space. Conveniently located close to I-45, the new HEB and so much more. Don't miss this great opportunity!

18. 2023-03-10
    status Option Pending 687-char remark

    Show marketing remark (687 chars)

    Fantastic home in the heart of Willis! This open and welcoming 2 bedroom, 1 bath home has been beautifully updated and lives so big for it's cozy size. Offering many wonderful features such as the large kitchen with granite countertops & stainless appliances, pantry & laundry room tucked neatly behind a pocket door, two very generously sized bedrooms, large walk-in closet in the primary and built-in storage spaces. The fenced backyard has a carport/patio area and a 24X30 insulated building with a/c that could a garage, workshop or converted to additional living space. Conveniently located close to I-45, the new HEB and so much more. Don't miss this great opportunity!

19. 2023-01-26
    listed $198,000 Active 687-char remark

    Show marketing remark (687 chars)

    Fantastic home in the heart of Willis! This open and welcoming 2 bedroom, 1 bath home has been beautifully updated and lives so big for it's cozy size. Offering many wonderful features such as the large kitchen with granite countertops & stainless appliances, pantry & laundry room tucked neatly behind a pocket door, two very generously sized bedrooms, large walk-in closet in the primary and built-in storage spaces. The fenced backyard has a carport/patio area and a 24X30 insulated building with a/c that could a garage, workshop or converted to additional living space. Conveniently located close to I-45, the new HEB and so much more. Don't miss this great opportunity!

20. 2023-01-07
    historical
21. 2022-12-18
    status Active
22. 2022-11-25
    status Pending
23. 2022-11-16
    status Option Pending
24. 2022-11-01
    listed $198,000 Active
25. 2018-07-23
    soldstatus Sold
26. 2018-07-13
    status Pending
27. 2018-07-12
    status Option Pending
28. 2018-06-20
    status Pending
29. 2018-06-13
    status Option Pending
30. 2018-04-09
    status Active
31. 2018-04-05
    status Option Pending
32. 2018-03-06
    price $139,000
33. 2018-02-06
    listed $144,700 Active
34. 2017-12-28
    soldstatus Sold
35. 2017-12-22
    status Pending
36. 2017-12-21
    status Option Pending
37. 2017-12-14
    price $77,900
38. 2017-11-29
    price $89,900
39. 2017-11-22
    listed $98,500 Active
40. 2011-05-09
    soldstatus
41. 2005-04-29
    soldstatus
42. 2003-02-24
    soldstatus
43. 2001-02-27
    historical
44. 2001-02-21
    listed $62,500

ⓘ 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: $5,781 · $482/mo
• Projected year-2 tax: $5,948 · $496/mo
• Expected delta: +$166/yr (+$14/mo · 2.9%)

ⓘ 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 5/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥111°F today · 24 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $42,528
• − Mortgage interest: −$18,205
• − Property taxes: −$5,781
• − Insurance: −$1,625
• − Repairs & maintenance: −$3,402
• − Management: −$3,402
• − Depreciation: −$9,455
• Taxable income: $658
• Est. tax owed @ 24.0%: −$158
• After-tax cash flow: $5,581/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: Willis ISD
• NCES district ID: 4845900
• Math proficiency: 33% ▼ -15.00%
• Reading proficiency: 40% ▼ -2.00%
• Median HH income: $57,828
• Composite: 32.32/100
• National rank: #5746
• State rank: #458 of 826 in TX

Livability — Willis

• Score: 62/100
• State rank: #933
• US rank: #16579

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Willis, TX
• County: Montgomery County · 663,713 people
• City population: 38,421
• Metro: Houston-The Woodlands-Sugar Land, TX
• Population (ZIP): 17,629
• Household income: $71,143
• Rent vs Own: 25.5% rent · 74.5% own
• Severe rent burden: 402.0

Population outlook (Montgomery County) Hauer SSP2

• Today (2025): 713,896 people
• By 2030: 805,263 · +12.8%
• By 2040: 992,708 · +39.1%
• By 2050: 1,179,590 · +65.2%
• By 2075: 1,628,084 · +128.1%
• By 2100: 1,937,880 · +171.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: White 58% Hispanic / Latino 32% Two or more races 14% Black 7% Native American 1%
• Hispanic origin (detail): Mexican 27%
• Common ancestry: Romanian 2% Slovak 2% Serbian 1%
• Foreign-born: 12% · Canada
• Languages at home: 80% English-only · Spanish 19%

Political lean MEDSL · Montgomery

• 2024 margin: Solid R (+45.5) · D 26.8% · R 72.3%
• 2008→2024 swing: +7.2pp toward D · 2008: -52.7pp · 2024: -45.5pp
• All cycles: 2024: R+45.5 2020: R+43.8 2016: R+51.4 2012: R+60.7 2008: R+52.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -8.25%
• Current HPI: 261.9673
• Rent YoY: ▲ 0.98%
• Metro: Houston-The Woodlands-Sugar Land, 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

+420.0% since first listed

31 events — show timeline

• 2026-05-18 Listed $325,000 HARMLS
• 2023-10-17 Sold (Public Records) — Public Records
• 2023-03-20 Sold (MLS) — HARMLS
• 2023-03-18 Pending — HARMLS
• 2023-03-10 Pending — HARMLS
• 2023-01-26 Listed $198,000 HARMLS
• 2023-01-07 Listing Removed — HARMLS
• 2022-12-18 Relisted — HARMLS
• 2022-11-25 Pending — HARMLS
• 2022-11-16 Pending — HARMLS
• 2022-11-01 Listed $198,000 HARMLS
• 2018-07-23 Sold (MLS) — HARMLS
• 2018-07-13 Pending — HARMLS
• 2018-07-12 Pending — HARMLS
• 2018-06-20 Pending — HARMLS
• 2018-06-13 Pending — HARMLS
• 2018-04-09 Relisted — HARMLS
• 2018-04-05 Pending — HARMLS
• 2018-03-06 Price Changed $139,000 HARMLS
• 2018-02-06 Listed $144,700 HARMLS
• 2017-12-28 Sold (MLS) — HARMLS
• 2017-12-22 Pending — HARMLS
• 2017-12-21 Pending — HARMLS
• 2017-12-14 Price Changed $77,900 HARMLS
• 2017-11-29 Price Changed $89,900 HARMLS
• 2017-11-22 Listed $98,500 HARMLS
• 2011-05-09 Sold (Public Records) — Public Records
• 2005-04-29 Sold (Public Records) — Public Records
• 2003-02-24 Sold (Public Records) — Public Records
• 2001-02-27 Listing Removed — HARMLS
• 2001-02-21 Listed $62,500 HARMLS

Property tax history

+10.7%/yr

Latest (2025): $5,781 · +1.7% YoY. Source: county tax records.