1105 W San Antonio St · Marfa, TX 79843

$325,000

2 bd · 2.0 ba · 1,521 sqft · SingleFamily public records · 79 Days on market

Built 1940 7,013 sqft lot $214/sqft · 31% below area Est $474k · 31% 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
• Appreciation +7.1/10.0
• Cash flow +6.0/30.0
• Schools +4.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0
• DSCR +0.3/10.0

Listing remarks MLS

Marfa oasis tucked away on San Antonio St, just a short walk to Bordo and The Water Stop. This classic Marfa home offers open living and dining, space for a gas fireplace, a spacious kitchen, 2 bedrooms, and an office. The property includes mature trees, brick back patio, native landscaping, carport, covered front porch, and alley access. Zoned commercial—perfect for a small business or residence. Ready for your personal touch! Come take a look!

Key facts

• Spacious kitchen
• Short walk to bordo
• Mature trees

Tags

• SHORT WALK TO BORDO
• SHORT WALK TO THE WATER STOP
• OPEN LIVING AND DINING
• SPACE FOR A GAS FIREPLACE
• SPACIOUS KITCHEN
• MATURE TREES

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $325k.

Deal economics

• At list price, monthly cash flow is $-624 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $215k (33.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $235k (27.7% below list).
• Recommended offer: $215k (33.9% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 73/100 on livability (#215 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, schools D, commute F.
• Marfa ISD (rural): math 45% / reading 45% proficiency, ranked #559 of 1,141 in TX (top 49%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 79 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 23 units permitted in Presidio County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $16k of equity ($2k loan paydown + $14k appreciation (4.2% local appreciation)).
• Presidio County population projected at -44% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 3, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 79 days — a 6% lower offer ($306k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 8y ago; this cycle's ask has dropped $20k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 6→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $214,841 (33.9% 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 79 days. Have you received any prior offers? Is the seller open to a 34% concession, seller financing, or rate buy-down credit?
3. Built in 1940 — 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: 0.72% ✗
• Cap rate: 3.99%
• Cash-on-cash: -8.22%
• DSCR: 0.63
• GRM: 11.5

CMA / ARV

• ARV (median comp): $474,361
• List price: $325,000
• Delta: -31.49%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Projected returns pro-forma

4.23% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 3.8%
• Equity multiple: 1.23×
• Total profit: $21,262
• Equity at exit: $169,164

10-year hold

• IRR: 6.7%
• Equity multiple: 2.17×
• Total profit: $106,310
• Equity at exit: $280,239

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 79843

• Home prices YoY: 2.0%
• Active inventory: 79
• Price-to-rent: 11.5×

Monthly cashflow live

• Estimated rent: $2,350 medium
• Mortgage (P&I): −$1,704
• Tax from tax record: −$640 /mo · $7,684/yr
• Insurance: −$135
• HOA: −$0
• Vacancy / Maint / Mgmt: −$494
• Net cashflow: $-624

Break-even live

Break-even rent $3,139

Max offer price $214,841

Occupancy floor —

Sensitivity live

Price	-10% $-440	-5% $-532	+0% $-624	+5% $-716	+10% $-808
Rent	-10% $-809	-5% $-716	+0% $-624	+5% $-531	+10% $-438
Rate	-1.0pp $-460	-0.5pp $-541	base $-624	+0.5pp $-708	+1.0pp $-793

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: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
702 E Washington St Marfa, TX	3.0	2.0	1350	$2,350	$1.74	20d	1	1.19mi

Listing history 21 events

1. 2026-06-21
   days on market $325,000 Active 79 DOM
2. 2026-06-18
   days on market $325,000 Active 76 DOM
3. 2026-06-17
   days on market $325,000 Active 75 DOM
4. 2026-06-16
   days on market $325,000 Active 74 DOM
5. 2026-06-15
   price $325,000 Active 73 DOM
6. 2026-06-15
   days on market $335,000 Active 73 DOM
7. 2026-06-14
   days on market $335,000 Active 71 DOM
8. 2026-06-10
   days on market $335,000 Active 68 DOM
9. 2026-06-09
   days on market $335,000 Active 67 DOM
10. 2026-06-08
    days on market $335,000 Active 66 DOM
11. 2026-06-07
    days on market $335,000 Active 65 DOM
12. 2026-06-05
    days on market $335,000 Active 62 DOM
13. 2026-06-03
    days on market $335,000 Active 61 DOM
14. 2026-06-02
    days on market $335,000 Active 60 DOM
15. 2026-06-01
    days on market $335,000 Active 59 DOM
16. 2026-05-31
    days on market $335,000 Active 58 DOM
17. 2026-05-31
    days on market $335,000 Active 57 DOM
18. 2026-05-14
    price $335,000 455-char remark

    Show marketing remark (455 chars)

    Marfa oasis tucked away on San Antonio St, just a short walk to Bordo and The Water Stop. This classic Marfa home offers open living and dining, space for a gas fireplace, a spacious kitchen, 2 bedrooms, and an office. The property includes mature trees, brick back patio, native landscaping, carport, covered front porch, and alley access. Zoned commercial—perfect for a small business or residence. Ready for your personal touch! Come take a look!

19. 2026-04-03
    listed $345,000 Active 455-char remark

    Show marketing remark (455 chars)

    Marfa oasis tucked away on San Antonio St, just a short walk to Bordo and The Water Stop. This classic Marfa home offers open living and dining, space for a gas fireplace, a spacious kitchen, 2 bedrooms, and an office. The property includes mature trees, brick back patio, native landscaping, carport, covered front porch, and alley access. Zoned commercial—perfect for a small business or residence. Ready for your personal touch! Come take a look!

20. 2020-01-31
    soldstatus 424-char remark

    Show marketing remark (424 chars)

    Wonderful oasis along San Antonio Street with large living and dining area with lots of light and charm. Marfa cool minimal clean finish with gas fireplace in LR. Outdoor area is private with brick patio and front and back alley entrance. Mature trees and shrubs, large kitchen, 2 BR's with an office room. Screened porch on back of building. Great opportunity with commercial zoning. WasherDryer located in second bathroom.

21. 2018-12-16
    listed $285,000 424-char remark

    Show marketing remark (424 chars)

    Wonderful oasis along San Antonio Street with large living and dining area with lots of light and charm. Marfa cool minimal clean finish with gas fireplace in LR. Outdoor area is private with brick patio and front and back alley entrance. Mature trees and shrubs, large kitchen, 2 BR's with an office room. Screened porch on back of building. Great opportunity with commercial zoning. WasherDryer located in second bathroom.

ⓘ 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: $7,684 · $640/mo
• Projected year-2 tax: $7,684 · $640/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 0% chance over 30 yrs
• 🔥 Wildfire 8/10 Severe
• 🌡 Heat 5/10 Major 6 d/yr ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,200
• − Mortgage interest: −$18,205
• − Property taxes: −$7,684
• − Insurance: −$1,625
• − Repairs & maintenance: −$2,256
• − Management: −$2,256
• − Depreciation: −$9,455
• Taxable loss: −$13,281
• Est. tax savings @ 24.0%: +$3,187
• After-tax cash flow: $-4,296/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: Marfa ISD
• NCES district ID: 4829040
• Math proficiency: 45% ▲ 10.00%
• Reading proficiency: 45% ▬ 0.00%
• Median HH income: $41,354
• Composite: 40.04/100
• National rank: #7884
• State rank: #559 of 1141 in TX

Livability — Marfa

• Score: 73/100
• State rank: #215
• US rank: #5308

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Marfa, TX
• Population (ZIP): 2,578

Population outlook (Presidio County) Hauer SSP2

• Today (2025): 5,330 people
• By 2030: 4,671 · -12.4%
• By 2040: 3,654 · -31.4%
• By 2050: 3,001 · -43.7%
• By 2075: 2,326 · -56.4%
• By 2100: 2,106 · -60.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: Hispanic / Latino 48% White 44% Two or more races 33% Native American 5%
• Hispanic origin (detail): Mexican 45%
• Common ancestry: Romanian 10% Iranian 2% Lithuanian 2%
• Foreign-born: 18% · Canada
• Languages at home: 61% English-only · Spanish 39%

Political lean MEDSL · Presidio

• 2024 margin: Solid D (+30.2) · D 64.6% · R 34.4%
• 2008→2024 swing: -13.2pp toward R · 2008: 43.4pp · 2024: 30.2pp
• All cycles: 2024: D+30.2 2020: D+33.5 2016: D+36.6 2012: D+42.5 2008: D+43.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.23%
• Current HPI: 214.5241
• 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

+17.5% since first listed

4 events — show timeline

• 2026-05-14 Price Changed $335,000 ODMLS
• 2026-04-03 Listed $345,000 ODMLS
• 2020-01-31 Sold (MLS) — ODMLS
• 2018-12-16 Listed $285,000 ODMLS

Property tax history

+14.5%/yr

Latest (2025): $7,684 · +14.1% YoY. Source: county tax records.