701 E 15th Ave · Corsicana, TX 75110

$195,000

3 bd · 2.0 ba · 1,386 sqft · SingleFamily · 108 Days on market

Built 2026 5,750 sqft lot $141/sqft · 8% below area Est $212k · 8% under

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Why this score? — see what drove the C 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 +23.6/30.0
• ARV discount +11.1/15.0
• DSCR +7.6/10.0
• 1% rule +4.8/10.0
• Livability +3.6/5.0
• Schools +3.2/10.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Affordable new construction in Corsicana estimated for completion by the end of May! This 3 bedroom, 2 bath home features an open concept layout with granite countertops, white cabinets, black fixtures, pantry, and LVP flooring throughout the main areas. Bedrooms will have carpet, and the primary suite includes a stylish accent wall. Additional features include a separate utility room and covered patio. Exterior painting and final grading are complete, with insulation and drywall coming soon. Conveniently located just minutes from shopping centers, dining, and everyday amenities. Great opportunity to own a brand-new home with modern finishes!

Key facts

• New construction
• Dedicated pantry
• Modern finishes

Tags

• NEW CONSTRUCTION
• MODERN FINISHES
• OPEN-CONCEPT FLOOR PLAN
• GRANITE COUNTERTOPS
• DEDICATED PANTRY
• LVP FLOORING

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $195k.

Deal economics

• At list price, monthly cash flow is $369 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $191k (2.0% below list).
• Recommended offer: $177k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.6% vs local median 4.4% in Corsicana — 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 71/100 on livability (#283 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities D, schools F, crime F.
• Corsicana ISD (town): math 39% / reading 37% proficiency, ranked #471 of 826 in TX (top 57%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents soft (-1.5%/yr); 274 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 522 units permitted in Navarro County in 2024 (0 in 5+ unit buildings).
• This rent runs 40% of the median local income ($57k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.
• Navarro 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 108 days — a 9% lower offer ($177k) is reasonable based on typical stale-listing flexibility.

Recommended offer $177,450 (9.0% below list)

Questions for the listing agent

1. It's been on market 108 days. Have you received any prior offers? Is the seller open to a 9% 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 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?
5. Crime grade is F 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: 0.98% ✗
• Cap rate: 8.56%
• Cash-on-cash: 8.11%
• DSCR: 1.36
• GRM: 8.5

CMA / ARV

• ARV (median comp): $212,103
• List price: $195,000
• Delta: -8.06%
• 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
609 E 14th St	0.08mi	3/2.0	1,400 (+1%)	9mo	$230,000	$164	87
123 E 13th Ave	0.42mi	3/2.0	1,265 (-9%)	2mo	$190,000	$150	64
106 W 17th Ave	0.41mi	3/2.0	1,305 (-6%)	8mo	$200,000	$153	64
119 E 13th Ave	0.42mi	3/2.0	1,263 (-9%)	4mo	$205,900	$163	62
1307 E 11th Ave	0.47mi	3/2.0	1,300 (-6%)	9mo	$210,000	$162	60
1305 S 1st St	0.29mi	4/1.0 (+1)	1,322 (-5%)	13mo	$187,500	$142	59
815 E Collin St	0.63mi	3/2.0	1,350 (-3%)	10mo	$229,000	$170	58
1114 E 11th Ave	0.40mi	4/2.0 (+1)	1,457 (+5%)	12mo	$233,000	$160	58
609 Martin Luther King Jr Blvd	0.51mi	3/1.5	1,320 (-5%)	11mo	$179,900	$136	57
214 E 15th Ave	0.28mi	4/2.0 (+1)	1,525 (+10%)	11mo	$256,900	$168	56
1401 E 6th Ave	0.71mi	4/2.0 (+1)	1,464 (+6%)	7mo	$159,600	$109	47
1508 E 8th Ave	0.68mi	3/1.0	1,267 (-9%)	10mo	$65,000	$51	41

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -7.0%
• Equity multiple: 0.75×
• Total profit: $-13,790
• Equity at exit: $29,075

10-year hold

• IRR: -1.1%
• Equity multiple: 0.93×
• Total profit: $-3,788
• Equity at exit: $16,860

Cash invested: $54,600 (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 75110

• Rents YoY: -1.5%
• Active inventory: 274
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,912 medium
• Mortgage (P&I): −$1,023
• Tax from tax record: −$37 /mo · $449/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$401
• Net cashflow: $369

Break-even live

Break-even rent $1,445

Max offer price $195,000

Occupancy floor 76%

Sensitivity live

Price	-10% $479	-5% $424	+0% $369	+5% $314	+10% $259
Rent	-10% $218	-5% $294	+0% $369	+5% $445	+10% $520
Rate	-1.0pp $467	-0.5pp $419	base $369	+0.5pp $319	+1.0pp $267

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1624 E Collin St Corsicana, TX	3.0	2.0	1339	$2,000	$1.49	45d	1	0.91mi
421 N 5th St Corsicana, TX	4.0	2.0	1664	$2,400	$1.44	45d	1	0.93mi

Listing history 16 events

1. 2026-06-21
   days on market $195,000 Active 108 DOM
2. 2026-06-19
   days on market $195,000 Active 106 DOM
3. 2026-06-18
   days on market $195,000 Active 105 DOM
4. 2026-06-17
   days on market $195,000 Active 104 DOM
5. 2026-06-16
   days on market $195,000 Active 103 DOM
6. 2026-06-15
   days on market $195,000 Active 102 DOM
7. 2026-06-14
   days on market $195,000 Active 100 DOM
8. 2026-06-12
   days on market $195,000 Active 99 DOM
9. 2026-06-09
   days on market $195,000 Active 96 DOM
10. 2026-06-08
    days on market $195,000 Active 95 DOM
11. 2026-06-07
    days on market $195,000 Active 94 DOM
12. 2026-06-02
    days on market $195,000 Active 89 DOM
13. 2026-06-01
    days on market $195,000 Active 88 DOM
14. 2026-05-31
    days on market $195,000 Active 87 DOM
15. 2026-05-30
    days on market $195,000 Active 86 DOM
16. 2026-03-05
    listed $195,000 Active 650-char remark

    Show marketing remark (650 chars)

    Affordable new construction in Corsicana estimated for completion by the end of May! This 3 bedroom, 2 bath home features an open concept layout with granite countertops, white cabinets, black fixtures, pantry, and LVP flooring throughout the main areas. Bedrooms will have carpet, and the primary suite includes a stylish accent wall. Additional features include a separate utility room and covered patio. Exterior painting and final grading are complete, with insulation and drywall coming soon. Conveniently located just minutes from shopping centers, dining, and everyday amenities. Great opportunity to own a brand-new home with modern finishes!

ⓘ 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: $449 · $37/mo
• Projected year-2 tax: $3,568 · $297/mo
• Expected delta: +$3,120/yr (+$260/mo · 695.0%)

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

Taxation est. · year 1

• Rental income: $22,942
• − Mortgage interest: −$10,923
• − Property taxes: −$449
• − Insurance: −$975
• − Repairs & maintenance: −$1,835
• − Management: −$1,835
• − Depreciation: −$5,673
• Taxable income: $1,252
• Est. tax owed @ 24.0%: −$300
• After-tax cash flow: $4,129/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: Corsicana ISD
• NCES district ID: 4815330
• Math proficiency: 39% ▼ -9.00%
• Reading proficiency: 37% ▬ 0.00%
• Median HH income: $39,948
• Composite: 31.89/100
• National rank: #5862
• State rank: #471 of 826 in TX

Livability — Corsicana

• Score: 71/100
• State rank: #283
• US rank: #6570

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Corsicana, TX
• County: Navarro County · 31,552 people
• City population: 31,552
• Metro: Corsicana, TX
• Population (ZIP): 31,552
• Household income: $57,370
• Rent vs Own: 39.1% rent · 60.9% own
• Severe rent burden: 663.0

Population outlook (Navarro County) Hauer SSP2

• Today (2025): 48,397 people
• By 2030: 48,096 · -0.6%
• By 2040: 47,394 · -2.1%
• By 2050: 46,541 · -3.8%
• By 2075: 44,940 · -7.1%
• By 2100: 42,288 · -12.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: White 41% Hispanic / Latino 37% Two or more races 16% Black 13% Pacific Islander 2% Asian 1%
• Hispanic origin (detail): Mexican 34%
• Common ancestry: Lithuanian 2% Slovak 1% Romanian 1%
• Foreign-born: 17% · Canada
• Languages at home: 68% English-only · Spanish 29% Other Asian/Pacific 2%

Political lean MEDSL · Navarro

• 2024 margin: Solid R (+51.8) · D 23.7% · R 75.6%
• 2008→2024 swing: -18.7pp toward R · 2008: -33.1pp · 2024: -51.8pp
• All cycles: 2024: R+51.8 2020: R+45.5 2016: R+48.8 2012: R+42.4 2008: R+33.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -248.01%
• Current HPI: 224.5566
• Rent YoY: ▼ -1.47%
• Metro: Corsicana, 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

1 event — show timeline

• 2026-03-05 Listed $195,000 NTREIS

Property tax history

+19.9%/yr

Latest (2025): $449 · +18.5% YoY. Source: county tax records.