1025 S Belknap St · Mexia, TX 76667

$189,500

7 bd · 2.0 ba · 3,424 sqft · SingleFamily public records · 149 Days on market

Built 1997 0.93 ac lot $55/sqft · 19% below area Est $235k · 19% under

---

Why this score? — see what drove the D- 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).

• ARV discount +15.0/15.0
• Cash flow +8.1/30.0
• 1% rule +3.5/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• DSCR +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

LOOKING FOR INCOME PRODUCUNG PROPERTY? This is an amazing one!!! Great opportunity for multifamily income producing property!! This home has so much potential with the main part of the house having 4 bedrooms, 3.5 bathrooms and open living and dining area to enjoy entertaining and spending time with loved ones. There are several additions to this home which can easily be turned into 3 rental units. These additions provide 3 extra bedrooms and 2 more baths! And with multiple driveways it will make multi parking a piece of cake. There is also a large storage building and workshop! The home needs some TLC so bring your ideas and come check it out!!

Key facts

• 3 rental units
• Workshop
• Multiple driveways

Tags

• INCOME PRODUCING PROPERTY
• OPEN LIVING AND DINING AREA
• 3 RENTAL UNITS
• LARGE STORAGE BUILDING
• WORKSHOP
• MULTIPLE DRIVEWAYS

What this means for you Summary

Snapshot

• This is a 7-bed/2.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $-188 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $156k (17.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $160k (15.5% below list).
• Recommended offer: $156k (17.5% below list) — sets the bar for cash-flow.
• Cap rate 5.1% vs local median 3.6% in Mexia — 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 68/100 on livability (#458 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B+; Watch: crime C-, schools F, amenities F.
• Mexia ISD (town): math 22% / reading 32% proficiency, ranked #696 of 826 in TX (top 84%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 69% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 131 active listings in the ZIP; 17 units permitted in Limestone County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Limestone County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 149 days — a 12% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 10y 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.

Recommended offer $156,289 (17.5% 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 149 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.85% ✗
• Cap rate: 5.10%
• Cash-on-cash: -4.25%
• DSCR: 0.81
• GRM: 9.9

CMA / ARV

• ARV (median comp): $234,596
• List price: $189,500
• Delta: -19.22%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -23.4%
• Equity multiple: 0.20×
• Total profit: $-42,569
• Equity at exit: $28,255

10-year hold

• IRR: -17.9%
• Equity multiple: 0.02×
• Total profit: $-52,029
• Equity at exit: $16,384

Cash invested: $53,060 (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 76667

• Home prices YoY: -8.9%
• Active inventory: 131
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,602 medium
• Mortgage (P&I): −$994
• Tax from tax record: −$381 /mo · $4,567/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$336
• Net cashflow: $-188

Break-even live

Break-even rent $1,840

Max offer price $156,289

Occupancy floor —

Sensitivity live

Price	-10% $-81	-5% $-134	+0% $-188	+5% $-242	+10% $-295
Rent	-10% $-315	-5% $-251	+0% $-188	+5% $-125	+10% $-61
Rate	-1.0pp $-93	-0.5pp $-140	base $-188	+0.5pp $-237	+1.0pp $-287

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: $47,375
• Closing costs: $5,685
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-21
   days on market $189,500 Active 149 DOM
2. 2026-06-18
   days on market $189,500 Active 147 DOM
3. 2026-06-17
   days on market $189,500 Active 146 DOM
4. 2026-06-16
   days on market $189,500 Active 145 DOM
5. 2026-06-15
   days on market $189,500 Active 144 DOM
6. 2026-06-15
   days on market $189,500 Active 143 DOM
7. 2026-06-13
   days on market $189,500 Active 142 DOM
8. 2026-06-12
   days on market $189,500 Active 141 DOM
9. 2026-06-10
   days on market $189,500 Active 138 DOM
10. 2026-06-08
    days on market $189,500 Active 137 DOM
11. 2026-06-08
    days on market $189,500 Active 136 DOM
12. 2026-06-07
    days on market $189,500 Active 135 DOM
13. 2026-06-03
    days on market $189,500 Active 132 DOM
14. 2026-06-02
    days on market $189,500 Active 131 DOM
15. 2026-06-01
    days on market $189,500 Active 130 DOM
16. 2026-05-31
    days on market $189,500 Active 129 DOM
17. 2026-01-22
    listed $189,500 Active 653-char remark

    Show marketing remark (653 chars)

    LOOKING FOR INCOME PRODUCUNG PROPERTY? This is an amazing one!!! Great opportunity for multifamily income producing property!! This home has so much potential with the main part of the house having 4 bedrooms, 3.5 bathrooms and open living and dining area to enjoy entertaining and spending time with loved ones. There are several additions to this home which can easily be turned into 3 rental units. These additions provide 3 extra bedrooms and 2 more baths! And with multiple driveways it will make multi parking a piece of cake. There is also a large storage building and workshop! The home needs some TLC so bring your ideas and come check it out!!

18. 2023-01-09
    soldstatus
19. 2017-02-07
    historical
20. 2016-08-16
    listed $190,000

ⓘ 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: $4,567 · $381/mo
• Projected year-2 tax: $4,567 · $381/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $19,220
• − Mortgage interest: −$10,615
• − Property taxes: −$4,567
• − Insurance: −$948
• − Repairs & maintenance: −$1,538
• − Management: −$1,538
• − Depreciation: −$5,513
• Taxable loss: −$5,498
• Est. tax savings @ 24.0%: +$1,319
• After-tax cash flow: $-937/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: Mexia ISD
• NCES district ID: 4830420
• Math proficiency: 22% ▼ -10.00%
• Reading proficiency: 32% ▬ 0.00%
• Median HH income: $37,464
• Composite: 22.48/100
• National rank: #8101
• State rank: #696 of 826 in TX

Livability — Mexia

• Score: 68/100
• State rank: #458
• US rank: #9265

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mexia, TX
• Population (ZIP): 10,494

Population outlook (Limestone County) Hauer SSP2

• Today (2025): 23,396 people
• By 2030: 23,214 · -0.8%
• By 2040: 22,829 · -2.4%
• By 2050: 22,516 · -3.8%
• By 2075: 22,088 · -5.6%
• By 2100: 20,354 · -13.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.67)
• Race & ethnicity: White 45% Hispanic / Latino 29% Two or more races 24% Black 21%
• Hispanic origin (detail): Mexican 26%
• Common ancestry: Serbian 3% Slovak 2% Italian 2%
• Foreign-born: 11% · Canada
• Languages at home: 77% English-only · Spanish 23%

Political lean MEDSL · Limestone

• 2024 margin: Solid R (+56.9) · D 21.2% · R 78.1%
• 2008→2024 swing: -23.4pp toward R · 2008: -33.5pp · 2024: -56.9pp
• All cycles: 2024: R+56.9 2020: R+50.3 2016: R+52.3 2012: R+40.7 2008: R+33.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -15.91%
• Current HPI: 161.8191
• Rent YoY: —
• Metro: —
• 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

-0.3% since first listed

4 events — show timeline

• 2026-01-22 Listed $189,500 NTREIS
• 2023-01-09 Sold (Public Records) — Public Records
• 2017-02-07 Listing Removed — NTREIS
• 2016-08-16 Listed $190,000 NTREIS

Property tax history

+2.8%/yr

Latest (2025): $4,567 · +9.3% YoY. Source: county tax records.