221 Braz St · Bonham, TX 75418

$157,000

3 bd · 2.0 ba · 1,346 sqft · SingleFamily public records · 67 Days on market

Built 1930 7,492 sqft lot $117/sqft · 30% below area Est $223k · 30% under

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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 +10.6/30.0
• 1% rule +4.2/10.0
• Schools +3.2/10.0
• Livability +3.2/5.0
• DSCR +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming 3-bedroom, 2-bathroom home in the heart of Bonham, TX. Built in 1930 with character to match, this 1,351 sqft property sits on a pier and beam foundation and features an open concept layout, updated kitchen with granite countertops and breakfast bar, and a spacious master suite with walk-in closet. Schedule your showing today.

Key facts

• 7,492 sq ft lot
• Built 1930
• Listed 66 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $157k.

Deal economics

• At list price, monthly cash flow is $-76 ($-917/yr) — negative.
• To cash-flow at today's rent, offer at most $143k (8.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $145k (7.9% below list).
• Recommended offer: $143k (8.6% below list) — sets the bar for cash-flow.
• Cap rate 5.7% vs local median 3.2% in Bonham — 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 64/100 on livability (#785 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D, amenities F, commute F.
• Bonham ISD (town): math 37% / reading 38% proficiency, ranked #477 of 826 in TX (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Finley-Oates El (math 17% / reading 32%, grade F, #3,052 of 4,322 statewide, top 74%, 533 students, 73% FRL); Evans El (math 41% / reading 33%, grade F, #756 of 1,662 statewide, top 47%, 374 students, 69% FRL); Bonham H S (math 37% / reading 32%, grade F, #963 of 1,632 statewide, top 61%, 548 students, 59% FRL).
• Market conditions: 284 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 83% of comp listings sitting > 30 days — soft ceiling on asking rent; 82 units permitted in Fannin 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 $5k of value loss. Plan a longer hold.
• Fannin County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 67 days — a 6% lower offer ($148k) is reasonable based on typical stale-listing flexibility.
• 16 sale attempts since 22y 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

• Watch-outs: property tax is 2.5% of price; built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wind risk, 26% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $143,498 (8.6% 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 67 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
3. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.92% ✗
• Cap rate: 5.71%
• Cash-on-cash: -2.09%
• DSCR: 0.91
• GRM: 9.0

CMA / ARV

• ARV (median comp): $223,326
• List price: $157,000
• Delta: -29.70%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
411 Henderson St	0.16mi	3/2.0	1,375 (+2%)	5mo	$275,000	$200	84
911 S 4th St	0.41mi	3/2.0	1,396 (+4%)	3mo	$159,900	$115	72
501 S 5th St	0.18mi	3/2.0	1,217 (-10%)	6mo	$224,900	$185	71
314 Braz St	0.06mi	3/2.0	1,218 (-10%)	14mo	$239,000	$196	70
502 S 3rd St	0.12mi	3/2.0	1,217 (-10%)	12mo	$235,000	$193	68
206 Star St	0.39mi	3/2.0	1,383 (+3%)	14mo	$259,000	$187	65
202 Pine St	0.63mi	3/2.0	1,265 (-6%)	1mo	$219,000	$173	60
906 Benton St	0.40mi	3/2.0	1,243 (-8%)	11mo	$223,000	$179	60
423 E 5th St	0.71mi	3/2.0	1,275 (-5%)	4mo	$239,990	$188	54
303 Henderson	0.13mi	4/2.0 (+1)	1,526 (+13%)	15mo	$295,000	$193	54
810 S 4th St	0.37mi	3/2.0	1,217 (-10%)	17mo	$230,000	$189	52
1220 S 5th St	0.62mi	3/1.0	1,404 (+4%)	13mo	$70,000	$50	49

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -19.7%
• Equity multiple: 0.31×
• Total profit: $-30,205
• Equity at exit: $23,409

10-year hold

• IRR: -12.3%
• Equity multiple: 0.27×
• Total profit: $-32,147
• Equity at exit: $13,574

Cash invested: $43,960 (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 75418

• Home prices YoY: -8.9%
• Active inventory: 284
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,446 high
• Mortgage (P&I): −$823
• Tax from tax record: −$330 /mo · $3,963/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$304
• Net cashflow: $-76

Break-even live

Break-even rent $1,543

Max offer price $143,498

Occupancy floor —

Sensitivity live

Price	-10% $12	-5% $-32	+0% $-76	+5% $-121	+10% $-165
Rent	-10% $-191	-5% $-134	+0% $-76	+5% $-19	+10% $38
Rate	-1.0pp $3	-0.5pp $-37	base $-76	+0.5pp $-117	+1.0pp $-159

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: $39,250
• Closing costs: $4,710
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
406 S 6th St Unit 1 Bonham, TX	3.0	2.0	1198	$1,300	$1.09	45d	1	0.26mi
805 S 6th St Unit 1 Bonham, TX	3.0	2.5	1229	$1,450	$1.18	45d	1	0.35mi
406 W 6th St Bonham, TX	3.0	2.0	1198	$1,350	$1.13	45d	1	0.65mi
608 E 3rd St Unit 2 Bonham, TX	3.0	2.0	1197	$1,295	$1.08	45d	1	0.66mi
613 E 3rd St Bonham, TX	3.0	2.0	1197	$1,299	$1.09	24d	1	0.68mi
412 E 7th St Unit 2 Bonham, TX	3.0	2.5	1366	$1,500	$1.10	45d	1	0.76mi
1014 Pine St Bonham, TX	3.0	2.0	1200	$1,475	$1.23	45d	1	1.03mi
913 W 12th St Bonham, TX	3.0	2.0	1355	$1,700	$1.25	45d	1	1.09mi
317 Jones St Bonham, TX	3.0	2.0	1067	$1,500	$1.41	45d	1	1.10mi
808 E 12th St Bonham, TX	3.0	2.0	1234	$1,595	$1.29	20d	1	1.18mi
1624 Cedar St Bonham, TX	3.0	2.0	1004	$1,275	$1.27	45d	1	1.43mi
224 E Boyd St Bonham, TX	3.0	1.0	1196	$1,245	$1.04	45d	1	1.50mi

Listing history 50 events

1. 2026-06-16
   days on market $157,000 Active 67 DOM
2. 2026-06-15
   days on market $157,000 Active 66 DOM
3. 2026-06-14
   days on market $157,000 Active 64 DOM
4. 2026-06-12
   pricedays on market $157,000 Active 63 DOM
5. 2026-06-09
   days on market $160,000 Active 60 DOM
6. 2026-06-08
   days on market $160,000 Active 59 DOM
7. 2026-06-07
   days on market $160,000 Active 58 DOM
8. 2026-06-05
   days on market $160,000 Active 56 DOM
9. 2026-06-04
   days on market $160,000 Active 54 DOM
10. 2026-06-02
    days on market $160,000 Active 53 DOM
11. 2026-06-01
    days on market $160,000 Active 52 DOM
12. 2026-05-31
    days on market $160,000 Active 51 DOM
13. 2026-05-31
    pricedays on market $160,000 Active 50 DOM
14. 2026-04-28
    price $165,000 337-char remark

    Show marketing remark (337 chars)

    Charming 3-bedroom, 2-bathroom home in the heart of Bonham, TX. Built in 1930 with character to match, this 1,351 sqft property sits on a pier and beam foundation and features an open concept layout, updated kitchen with granite countertops and breakfast bar, and a spacious master suite with walk-in closet. Schedule your showing today.

15. 2026-04-28
    status Active 337-char remark

    Show marketing remark (337 chars)

    Charming 3-bedroom, 2-bathroom home in the heart of Bonham, TX. Built in 1930 with character to match, this 1,351 sqft property sits on a pier and beam foundation and features an open concept layout, updated kitchen with granite countertops and breakfast bar, and a spacious master suite with walk-in closet. Schedule your showing today.

16. 2026-04-22
    historical Active Option Contract 337-char remark

    Show marketing remark (337 chars)

    Charming 3-bedroom, 2-bathroom home in the heart of Bonham, TX. Built in 1930 with character to match, this 1,351 sqft property sits on a pier and beam foundation and features an open concept layout, updated kitchen with granite countertops and breakfast bar, and a spacious master suite with walk-in closet. Schedule your showing today.

17. 2026-04-09
    listed $155,000 Active 337-char remark

    Show marketing remark (337 chars)

    Charming 3-bedroom, 2-bathroom home in the heart of Bonham, TX. Built in 1930 with character to match, this 1,351 sqft property sits on a pier and beam foundation and features an open concept layout, updated kitchen with granite countertops and breakfast bar, and a spacious master suite with walk-in closet. Schedule your showing today.

18. 2026-01-31
    historical
19. 2025-10-01
    price $165,000
20. 2025-08-28
    price $175,000
21. 2025-08-14
    price $181,000
22. 2025-07-31
    price $183,000
23. 2025-07-24
    price $185,000
24. 2025-07-09
    listed $190,000 Active
25. 2021-03-30
    soldstatus Sold
26. 2021-03-30
    soldstatus
27. 2021-03-15
    status Pending
28. 2021-03-04
    historical Active Option Contract
29. 2021-02-26
    price $149,500
30. 2021-02-26
    status Active
31. 2020-12-09
    historical Active Option Contract
32. 2020-12-08
    historical
33. 2020-11-23
    status Active
34. 2020-11-10
    historical Active Option Contract
35. 2020-11-05
    status Active
36. 2020-11-03
    status Pending
37. 2020-10-19
    historical Active Option Contract
38. 2020-09-29
    price $142,500
39. 2020-09-08
    status Active
40. 2020-09-01
    historical Active Contingent
41. 2020-08-05
    listed $155,000 Active
42. 2020-07-30
    historical
43. 2020-07-15
    listed $155,000 Active
44. 2019-09-23
    soldstatus
45. 2019-09-20
    soldstatus Sold
46. 2019-08-19
    status Pending
47. 2019-08-03
    price $41,500
48. 2019-07-31
    price $31,500
49. 2019-07-30
    soldstatus
50. 2019-07-30
    price $41,500

ⓘ 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: $3,963 · $330/mo
• Projected year-2 tax: $3,963 · $330/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 7/10 Severe
• 🌡 Heat 7/10 Severe 7 d/yr ≥111°F today · 22 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 26% 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: $17,355
• − Mortgage interest: −$8,794
• − Property taxes: −$3,963
• − Insurance: −$785
• − Repairs & maintenance: −$1,388
• − Management: −$1,388
• − Depreciation: −$4,567
• Taxable loss: −$3,531
• Est. tax savings @ 24.0%: +$848
• After-tax cash flow: $-70/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: Bonham ISD
• NCES district ID: 4810800
• Math proficiency: 37% ▼ -1.00%
• Reading proficiency: 38% ▼ -2.00%
• Median HH income: $41,740
• Composite: 31.63/100
• National rank: #5937
• State rank: #477 of 826 in TX

Livability — Bonham

• Score: 64/100
• State rank: #785
• US rank: #14360

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bonham, TX
• County: Fannin County · 15,155 people
• City population: 15,155
• Metro: Bonham, TX
• Population (ZIP): 15,155
• Household income: $68,918
• Rent vs Own: 24.8% rent · 75.2% own
• Severe rent burden: 281.0

Population outlook (Fannin County) Hauer SSP2

• Today (2025): 33,423 people
• By 2030: 33,035 · -1.2%
• By 2040: 32,250 · -3.5%
• By 2050: 31,462 · -5.9%
• By 2075: 29,447 · -11.9%
• By 2100: 25,459 · -23.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Hispanic / Latino 17% Black 10% Two or more races 8%
• Hispanic origin (detail): Mexican 16%
• Common ancestry: Lithuanian 3% Slovak 1% Italian 1%
• Foreign-born: 7% · Canada, Philippines
• Languages at home: 85% English-only · Spanish 14%

Political lean MEDSL · Fannin

• 2024 margin: Solid R (+67.4) · D 15.9% · R 83.3%
• 2008→2024 swing: -27.8pp toward R · 2008: -39.6pp · 2024: -67.4pp
• All cycles: 2024: R+67.4 2020: R+63.4 2016: R+61.9 2012: R+52.5 2008: R+39.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -25.59%
• Current HPI: 262.7177
• Rent YoY: —
• Metro: Bonham, 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

+978.4% since first listed

66 events — show timeline

• 2026-04-28 Price Changed $165,000 NTREIS
• 2026-04-28 Relisted — NTREIS
• 2026-04-22 Contingent — NTREIS
• 2026-04-09 Listed $155,000 NTREIS
• 2026-01-31 Listing Removed — NTREIS
• 2025-10-01 Price Changed $165,000 NTREIS
• 2025-08-28 Price Changed $175,000 NTREIS
• 2025-08-14 Price Changed $181,000 NTREIS
• 2025-07-31 Price Changed $183,000 NTREIS
• 2025-07-24 Price Changed $185,000 NTREIS
• 2025-07-09 Listed $190,000 NTREIS
• 2021-03-30 Sold (Public Records) — Public Records
• 2021-03-30 Sold (MLS) — NTREIS
• 2021-03-15 Pending — NTREIS
• 2021-03-04 Contingent — NTREIS
• 2021-02-26 Price Changed $149,500 NTREIS
• 2021-02-26 Relisted — NTREIS
• 2020-12-09 Contingent — NTREIS
• 2020-12-08 Listing Removed — NTREIS
• 2020-11-23 Relisted — NTREIS
• 2020-11-10 Contingent — NTREIS
• 2020-11-05 Relisted — NTREIS
• 2020-11-03 Pending — NTREIS
• 2020-10-19 Contingent — NTREIS
• 2020-09-29 Price Changed $142,500 NTREIS
• 2020-09-08 Relisted — NTREIS
• 2020-09-01 Contingent — NTREIS
• 2020-08-05 Listed $155,000 NTREIS
• 2020-07-30 Listing Removed — NTREIS
• 2020-07-15 Listed $155,000 NTREIS
• 2019-09-23 Sold (Public Records) — Public Records
• 2019-09-20 Sold (MLS) — NTREIS
• 2019-08-19 Pending — NTREIS
• 2019-08-03 Price Changed $41,500 NTREIS
• 2019-07-31 Price Changed $31,500 NTREIS
• 2019-07-30 Sold (Public Records) — Public Records
• 2019-07-30 Price Changed $41,500 NTREIS
• 2019-07-30 Price Changed $31,500 NTREIS
• 2019-07-30 Price Changed $41,500 NTREIS
• 2019-07-24 Listed $31,500 NTREIS
• 2019-07-16 Listing Removed — NTREIS
• 2019-07-12 Listed $29,900 NTREIS
• 2017-04-07 Sold (Public Records) — Public Records
• 2015-01-29 Sold (Public Records) — Public Records
• 2015-01-26 Sold (MLS) — NTREIS
• 2015-01-20 Pending — NTREIS
• 2015-01-06 Contingent — NTREIS
• 2014-11-25 Listed $12,000 NTREIS
• 2014-06-15 Price Changed $15,100 NTREIS
• 2014-06-15 Listing Removed — NTREIS
• 2014-06-12 Relisted — NTREIS
• 2014-06-12 Price Changed $17,100 NTREIS
• 2014-06-12 Listing Removed — NTREIS
• 2014-06-10 Price Changed $17,750 NTREIS
• 2014-06-08 Relisted — NTREIS
• 2014-06-08 Price Changed $18,000 NTREIS
• 2014-06-04 Price Changed $18,750 NTREIS
• 2014-06-04 Listing Removed — NTREIS
• 2014-05-27 Price Changed $19,500 NTREIS
• 2014-05-26 Price Changed $20,500 NTREIS
• 2014-05-21 Price Changed $21,500 NTREIS
• 2014-05-16 Price Changed $23,100 NTREIS
• 2014-05-13 Listed $23,500 NTREIS
• 2004-10-01 Sold (MLS) — NTREIS
• 2004-09-17 Listing Removed — NTREIS
• 2004-07-17 Listed $15,300 NTREIS

Property tax history

+23.4%/yr

Latest (2025): $3,963 · +1.3% YoY. Source: county tax records.