1016 Tower St · Canton, TX 75103

$189,000

3 bd · 1.0 ba · 1,404 sqft · SingleFamily public records · 127 Days on market

Built 1972 10,454 sqft lot $135/sqft · 7% above area Est $199k · 5% under ↓ 6% since listing

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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 +9.8/15.0
• Cash flow +8.9/30.0
• Schools +4.4/10.0
• Livability +3.6/5.0
• 1% rule +3.2/10.0
• DSCR +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Perfect opportunity near Downtown Canton. Minor renovations currently underway to make this the perfect home. Come downsize in Canton! Huge backyard, large shade trees. Walking distance to schools and Downtown Canton. Lots of shopping and dining in the square as well as First Monday Trade Days. Maybe this could be a good Airbnb for those long, First Monday girl trips to Canton.

Key facts

• Large shade trees
• Huge backyard
• Roof in 2020

Tags

• ROOF IN 2020
• HOME LEVELED IN 2024
• HUGE BACKYARD
• LARGE SHADE TREES
• WALKING DISTANCE TO SCHOOLS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $189k.

Deal economics

• At list price, monthly cash flow is $-151 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $162k (14.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $155k (17.8% below list).
• Recommended offer: $155k (17.8% below list) — sets the bar for 1% rule.
• Cap rate 5.3% vs local median 3.0% in Canton — 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 72/100 on livability (#239 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, amenities F, commute F.
• Canton ISD (town): math 49% / reading 55% proficiency, ranked #151 of 826 in TX (top 18%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Canton El (571 students, 57% FRL); Canton J H (math 47% / reading 52%, grade C, #356 of 1,662 statewide, top 23%, 550 students, 47% FRL); Canton H S (math 67% / reading 72%, grade B, #119 of 1,632 statewide, top 9%, 653 students, 41% FRL).
• Market conditions: 261 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals leasing fast (median 1d on market — plan ~1-2 weeks tenant-placement turnaround); 54 units permitted in Van Zandt 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.
• Van Zandt County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 127 days — a 12% lower offer ($166k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 50% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $155,272 (17.8% 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 127 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
3. Built in 1972 — 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 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. 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?
8. 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.
9. 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.
10. 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: 0.82% ✗
• Cap rate: 5.33%
• Cash-on-cash: -3.43%
• DSCR: 0.85
• GRM: 10.1

CMA / ARV

• ARV (median comp): $199,403
• List price: $189,000
• Delta: -5.22%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1102 Clay St	0.08mi	3/2.5	1,380 (-2%)	7mo	$115,000	$83	82
1146 Big Rock St	0.18mi	3/1.0	1,456 (+4%)	12mo	$189,900	$130	75
1004 Pecan St	0.52mi	3/2.0	1,407 (+0%)	4mo	$160,000	$114	68
1342 Shady Ln	0.31mi	3/2.0	1,482 (+6%)	7mo	$285,000	$192	66
625 S Buffalo St	0.34mi	2/2.0 (-1)	1,479 (+5%)	6mo	$135,000	$91	62
761 S Pacific St	0.34mi	2/2.0 (-1)	1,326 (-6%)	9mo	$189,900	$143	58
1361 Shady Ln	0.32mi	3/2.0	1,262 (-10%)	8mo	$140,000	$111	57
318 River Oaks Ln	0.60mi	3/2.0	1,416 (+1%)	15mo	$220,000	$155	54
1191 VZ County Road 1207	0.61mi	3/2.0	1,500 (+7%)	13mo	$330,000	$220	45
1260 Woodland Dr	0.23mi	3/2.0	1,608 (+14%)	20mo	$325,000	$202	45
351 River Oaks Ln	0.55mi	3/2.0	1,604 (+14%)	4mo	$245,000	$153	43
1310 Forrest Dr	0.56mi	3/2.0	1,554 (+11%)	16mo	$205,000	$132	38

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: -22.0%
• Equity multiple: 0.24×
• Total profit: $-40,189
• Equity at exit: $28,181

10-year hold

• IRR: -15.8%
• Equity multiple: 0.11×
• Total profit: $-47,123
• Equity at exit: $16,341

Cash invested: $52,920 (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 75103

• Home prices YoY: -14.3%
• Active inventory: 261
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $1,553 high
• Mortgage (P&I): −$991
• Tax from tax record: −$308 /mo · $3,696/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$326
• Net cashflow: $-151

Break-even live

Break-even rent $1,744

Max offer price $162,288

Occupancy floor —

Sensitivity live

Price	-10% $-44	-5% $-98	+0% $-151	+5% $-205	+10% $-258
Rent	-10% $-274	-5% $-213	+0% $-151	+5% $-90	+10% $-29
Rate	-1.0pp $-56	-0.5pp $-103	base $-151	+0.5pp $-200	+1.0pp $-250

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: $47,250
• Closing costs: $5,670
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1107 Tower St Canton, TX	3.0	1.5	1210	$1,525	$1.26	20d	1	0.06mi
405 Beard St Canton, TX	3.0	2.0	1147	$1,675	$1.46	9d	1	0.15mi
1361 Shady Ln Canton, TX	3.0	2.0	1262	$1,600	$1.27	0d	1	0.32mi
560 Athens St Unit 580 Canton, TX	2.0	1.0	1612	$1,125	$0.70	0d	1	0.37mi
351 Mill Creek Rd Canton, TX	2.0	1.0	875	$1,200	$1.37	45d	1	0.73mi
351 Mill Creek Rd Canton, TX	2.0	1.0	875	$1,200	$1.37	0d	1	0.73mi
900 W State Highway 243 Canton, TX	3.0	2.0	1087	$1,750	$1.61	0d	1	0.74mi
908 Texas 243 Canton, TX	3.0	2.0	1148	$1,750	$1.52	0d	1	0.77mi
680 Cherry Creek Ln Canton, TX	3.0	2.0	1244	$1,700	$1.37	0d	1	0.89mi
341 Dry Creek Ln Canton, TX	3.0	2.0	1412	$1,900	$1.35	26d	1	1.29mi
519 Burnett Trl Canton, TX	3.0	2.0	1294	$1,900	$1.47	24d	1	1.31mi

Listing history 19 events

1. 2026-06-21
   days on market $189,000 Active 127 DOM
2. 2026-06-18
   days on market $189,000 Active 124 DOM
3. 2026-06-17
   days on market $189,000 Active 123 DOM
4. 2026-06-16
   days on market $189,000 Active 122 DOM
5. 2026-06-15
   days on market $189,000 Active 121 DOM
6. 2026-06-13
   days on market $189,000 Active 119 DOM
7. 2026-06-13
   days on market $189,000 Active 118 DOM
8. 2026-06-09
   days on market $189,000 Active 115 DOM
9. 2026-06-08
   days on market $189,000 Active 114 DOM
10. 2026-06-07
    days on market $189,000 Active 113 DOM
11. 2026-06-04
    days on market $189,000 Active 110 DOM
12. 2026-06-03
    days on market $189,000 Active 109 DOM
13. 2026-06-02
    days on market $189,000 Active 108 DOM
14. 2026-06-01
    days on market $189,000 Active 107 DOM
15. 2026-05-31
    days on market $189,000 Active 106 DOM
16. 2026-03-12
    price $189,000 380-char remark

    Show marketing remark (380 chars)

    Perfect opportunity near Downtown Canton. Minor renovations currently underway to make this the perfect home. Come downsize in Canton! Huge backyard, large shade trees. Walking distance to schools and Downtown Canton. Lots of shopping and dining in the square as well as First Monday Trade Days. Maybe this could be a good Airbnb for those long, First Monday girl trips to Canton.

17. 2026-02-13
    listed $200,000 Active 380-char remark

    Show marketing remark (380 chars)

    Perfect opportunity near Downtown Canton. Minor renovations currently underway to make this the perfect home. Come downsize in Canton! Huge backyard, large shade trees. Walking distance to schools and Downtown Canton. Lots of shopping and dining in the square as well as First Monday Trade Days. Maybe this could be a good Airbnb for those long, First Monday girl trips to Canton.

18. 2017-03-13
    soldstatus
19. 2014-06-09
    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: $3,696 · $308/mo
• Projected year-2 tax: $3,696 · $308/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 2/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥110°F today · 24 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 50% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,633
• − Mortgage interest: −$10,587
• − Property taxes: −$3,696
• − Insurance: −$945
• − Repairs & maintenance: −$1,491
• − Management: −$1,491
• − Depreciation: −$5,498
• Taxable loss: −$5,074
• Est. tax savings @ 24.0%: +$1,218
• After-tax cash flow: $-597/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: Canton ISD
• NCES district ID: 4812750
• Math proficiency: 49% ▼ -12.00%
• Reading proficiency: 55% ▼ -1.00%
• Median HH income: $46,385
• Composite: 44.08/100
• National rank: #2877
• State rank: #151 of 826 in TX

Livability — Canton

• Score: 72/100
• State rank: #239
• US rank: #5787

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Canton, TX
• Population (ZIP): 16,222

Population outlook (Van Zandt County) Hauer SSP2

• Today (2025): 55,634 people
• By 2030: 56,479 · +1.5%
• By 2040: 57,672 · +3.7%
• By 2050: 57,913 · +4.1%
• By 2075: 57,544 · +3.4%
• By 2100: 52,659 · -5.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 7% Two or more races 5% Black 1%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Lithuanian 2% Italian 1% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 4%

Political lean MEDSL · Van Zandt

• 2024 margin: Solid R (+74.8) · D 12.3% · R 87.2%
• 2008→2024 swing: -19.8pp toward R · 2008: -55.1pp · 2024: -74.8pp
• All cycles: 2024: R+74.8 2020: R+72.1 2016: R+72.1 2012: R+66.6 2008: R+55.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -38.07%
• Current HPI: 227.6156
• 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

-5.5% since first listed

4 events — show timeline

• 2026-03-12 Price Changed $189,000 NTREIS
• 2026-02-13 Listed $200,000 NTREIS
• 2017-03-13 Sold (Public Records) — Public Records
• 2014-06-09 Sold (Public Records) — Public Records

Property tax history

+8.6%/yr

Latest (2025): $3,696 · +6.3% YoY. Source: county tax records.