205 Barker St · Athens, TX 75751

$55,000

2 bd · 1.5 ba · 784 sqft · Manufactured public records · 174 Days on market

Built 2005 3,354 sqft lot

---

Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.6/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Located in the heart of Athens, Texas, this 2-bedroom, 1-bathroom home offers a fantastic opportunity for anyone seeking an affordable starter home or a turnkey addition to their investment portfolio. The property is in solid, livable condition and features a convenient attached carport for covered parking and extra storage. Whether you are looking to stop paying rent and start building equity, or seeking a high-potential rental property in a steady market, this home provides a functional layout and a low-maintenance lifestyle. Making this deal even more accessible, seller financing is available, providing a flexible path to homeownership without the traditional bank hurdles. Owner Financing Available!

Key facts

• Attached carport
• Covered parking
• Extra storage

Tags

• ATTACHED CARPORT
• COVERED PARKING
• EXTRA STORAGE
• FUNCTIONAL LAYOUT
• LOW MAINTENANCE LIFESTYLE

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath manufactured listed at $55k.

Deal economics

• At list price, monthly cash flow is $569 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Recommended offer: $48k (12.0% below list) — sets the bar for market timing.
• Cap rate 18.7% vs local median 2.5% in Athens — 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 (#241 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: crime D+, schools D, amenities F.
• Athens ISD (town): math 34% / reading 34% proficiency, ranked #548 of 826 in TX (top 66%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 191 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 57% of comp listings sitting > 30 days — soft ceiling on asking rent; 263 units permitted in Henderson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $380 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 174 days — a 12% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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: major wind risk, 65% chance of damaging wind over 30y; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $48,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 174 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. 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.
7. 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.
8. 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: 2.09% ✓
• Cap rate: 18.71%
• Cash-on-cash: 44.35%
• DSCR: 2.97
• GRM: 4.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 41.3%
• Equity multiple: 2.77×
• Total profit: $27,335
• Equity at exit: $8,201

10-year hold

• IRR: 47.5%
• Equity multiple: 5.58×
• Total profit: $70,458
• Equity at exit: $4,755

Cash invested: $15,400 (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 75751

• Home prices YoY: -33.1%
• Active inventory: 191
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $1,152 high
• Mortgage (P&I): −$288
• Tax from tax record: −$30 /mo · $356/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$242
• Net cashflow: $569

Break-even live

Break-even rent $432

Max offer price $55,000

Occupancy floor 46%

Sensitivity live

Price	-10% $600	-5% $585	+0% $569	+5% $554	+10% $538
Rent	-10% $478	-5% $524	+0% $569	+5% $615	+10% $660
Rate	-1.0pp $597	-0.5pp $583	base $569	+0.5pp $555	+1.0pp $540

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
409 Royal St Apt 5 Athens, TX	2.0	1.0	950	$950	$1.00	44d	1	0.54mi
207 W College St Unit 102 Athens, TX	2.0	1.0	900	$865	$0.96	44d	1	0.55mi
401 S Carroll St Athens, TX	2.0	1.0	780	$1,020	$1.31	22d	12	0.56mi
215 Wood St Athens, TX	1.0–2.0	1.0–2.0	762	$1,520	$1.99	14d	4	0.84mi
900 E Corsicana St Athens, TX	2.0	1.0–2.0	767	$1,339	$1.74	14d	6	0.89mi
625 York St Unit B Athens, TX	2.0	1.0	700	$795	$1.14	44d	1	0.89mi
300 Lila Ln Athens, TX	2.0	2.0	932	$1,350	$1.45	44d	1	1.38mi

Listing history 20 events

1. 2026-06-21
   days on market $55,000 Active 174 DOM
2. 2026-06-19
   days on market $55,000 Active 172 DOM
3. 2026-06-18
   days on market $55,000 Active 171 DOM
4. 2026-06-17
   days on market $55,000 Active 170 DOM
5. 2026-06-16
   days on market $55,000 Active 169 DOM
6. 2026-06-15
   days on market $55,000 Active 168 DOM
7. 2026-06-14
   days on market $55,000 Active 166 DOM
8. 2026-06-12
   days on market $55,000 Active 165 DOM
9. 2026-06-09
   days on market $55,000 Active 162 DOM
10. 2026-06-08
    days on market $55,000 Active 161 DOM
11. 2026-06-07
    days on market $55,000 Active 160 DOM
12. 2026-06-05
    days on market $55,000 Active 157 DOM
13. 2026-06-03
    days on market $55,000 Active 156 DOM
14. 2026-06-02
    days on market $55,000 Active 155 DOM
15. 2026-06-01
    days on market $55,000 Active 154 DOM
16. 2026-05-31
    days on market $55,000 Active 153 DOM
17. 2026-05-30
    days on market $55,000 Active 152 DOM
18. 2026-01-12
    listed $55,000 Active 711-char remark

    Show marketing remark (711 chars)

    Located in the heart of Athens, Texas, this 2-bedroom, 1-bathroom home offers a fantastic opportunity for anyone seeking an affordable starter home or a turnkey addition to their investment portfolio. The property is in solid, livable condition and features a convenient attached carport for covered parking and extra storage. Whether you are looking to stop paying rent and start building equity, or seeking a high-potential rental property in a steady market, this home provides a functional layout and a low-maintenance lifestyle. Making this deal even more accessible, seller financing is available, providing a flexible path to homeownership without the traditional bank hurdles. Owner Financing Available!

19. 2025-12-29
    listed $55,000 Active 711-char remark

    Show marketing remark (711 chars)

    Located in the heart of Athens, Texas, this 2-bedroom, 1-bathroom home offers a fantastic opportunity for anyone seeking an affordable starter home or a turnkey addition to their investment portfolio. The property is in solid, livable condition and features a convenient attached carport for covered parking and extra storage. Whether you are looking to stop paying rent and start building equity, or seeking a high-potential rental property in a steady market, this home provides a functional layout and a low-maintenance lifestyle. Making this deal even more accessible, seller financing is available, providing a flexible path to homeownership without the traditional bank hurdles. Owner Financing Available!

20. 2024-01-10
    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: $356 · $30/mo
• Projected year-2 tax: $1,006 · $84/mo
• Expected delta: +$650/yr (+$54/mo · 182.4%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥110°F today · 26 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 65% 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: $13,827
• − Mortgage interest: −$3,081
• − Property taxes: −$356
• − Insurance: −$275
• − Repairs & maintenance: −$1,106
• − Management: −$1,106
• − Depreciation: −$1,600
• Taxable income: $6,302
• Est. tax owed @ 24.0%: −$1,513
• After-tax cash flow: $5,318/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: Athens ISD
• NCES district ID: 4808870
• Math proficiency: 34% ▼ -9.00%
• Reading proficiency: 34% ▼ -4.00%
• Median HH income: $41,617
• Composite: 28.73/100
• National rank: #6680
• State rank: #548 of 826 in TX

Livability — Athens

• Score: 72/100
• State rank: #241
• US rank: #5796

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Athens, TX
• County: Henderson County · 34,977 people
• City population: 18,644
• Metro: Athens, TX
• Population (ZIP): 18,644
• Household income: $70,620
• Rent vs Own: 34.4% rent · 65.6% own
• Severe rent burden: 535.0

Population outlook (Henderson County) Hauer SSP2

• Today (2025): 80,471 people
• By 2030: 80,608 · +0.2%
• By 2040: 80,087 · -0.5%
• By 2050: 78,208 · -2.8%
• By 2075: 72,423 · -10.0%
• By 2100: 61,012 · -24.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 60% Hispanic / Latino 24% Two or more races 18% Black 10% Asian 2%
• Hispanic origin (detail): Mexican 22%
• Common ancestry: Slovak 2% Romanian 1% Italian 1%
• Foreign-born: 8% · Canada
• Languages at home: 79% English-only · Spanish 19% Other Asian/Pacific 1%

Political lean MEDSL · Henderson

• 2024 margin: Solid R (+63.5) · D 18.0% · R 81.4%
• 2008→2024 swing: -18.8pp toward R · 2008: -44.6pp · 2024: -63.5pp
• All cycles: 2024: R+63.5 2020: R+60.2 2016: R+60.0 2012: R+54.8 2008: R+44.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -95.19%
• Current HPI: 192.3973
• Rent YoY: —
• Metro: Athens, 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

+0.0% since first listed

3 events — show timeline

• 2026-01-12 Listed $55,000 GTAR
• 2025-12-29 Listed $55,000 NTREIS
• 2024-01-10 Sold (Public Records) — Public Records

Property tax history

+10.0%/yr

Latest (2025): $356 · +0.2% YoY. Source: county tax records.