302 S Broadway St · Blanket, TX 76432

$149,900

2 bd · 2.0 ba · 1,559 sqft · SingleFamily public records · 14 Days on market

Built 1987 0.46 ac lot Est $104k · 44% over

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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 +29.1/30.0
• DSCR +10.0/10.0
• 1% rule +8.3/10.0
• Appreciation +6.1/10.0
• Livability +3.1/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Listing remarks MLS

Two bedroom, two bath, two-car garage, white brick home, with 1579 sq ft (CAD), metal roof, large 35 x 50 shop with offices, and two-car carport in front of garage on large shady lot. Large utility room--could be 3rd bedroom; wide hall--could be office. Storage area attached to garage. Beautiful yard with well. Call Sharron Bundick.

Key facts

• Office space
• Separate dining area
• 0.46 acre lot

Tags

• OVERSIZED TWO CAR GARAGE
• DETACHED SHOP WITH ELECTRICITY
• SEPARATE DINING AREA
• PRIVACY FENCED BACKYARD
• WATER WELL ON THE PROPERTY
• OFFICE SPACE

Property features AI

Finance

• Other: Parcel number 000000048641; Subdivision: Blanket O T; County: Brown
• Financial info: Listing terms: Cash, Conventional; Treat as clear loan type; No second mortgage
• HOA & community: No association

Exterior

• Parking: Attached 2-car garage; Covered parking for 5 vehicles; 2-car carport; Driveway; Garage door opener; Garage faces front
• Utilities: City water; City sewer; No municipal utility district
• Home design: Single family residence; Residential property; One story; Property attached
• Construction: Built in 1987
• Exterior features: Gutters; RV/boat parking; Storage; Large backyard with grass; Many trees; Accessible entrance

Interior

• Kitchen: Dishwasher; Electric oven; Microwave
• Bedrooms: Primary bedroom (level 1) — approx. 16 x 10; Bedroom (level 1) — approx. 14 x 13
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central electric air conditioning; Ceiling fans
• Interior features: Eat-in kitchen; One living area; One dining area; 3 total rooms

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $520 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).

Location & tenants

• Location reads 61/100 on livability (#1,023 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety D+, employment D, schools F.
• Blanket ISD (rural): math 20% / reading 35% proficiency, ranked #1,046 of 1,141 in TX (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 33 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 142 units permitted in Brown County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($1k loan paydown + $3k appreciation (2.1% local appreciation)).
• At projected returns (2.1% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 17y 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

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $149,900

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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.
5. 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.
6. 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: 1.33% ✓
• Cap rate: 10.45%
• Cash-on-cash: 14.86%
• DSCR: 1.66
• GRM: 6.2

CMA / ARV

• ARV (on-the-fly): $104,453
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
700 Avenue H	0.26mi	3/1.0 (+1)	1,496 (-4%)	5mo	$37,500	$25	68
203 Avenue E	0.19mi	3/2.0 (+1)	1,728 (+11%)	3mo	$115,000	$67	66
316 7th St	0.40mi	3/2.0 (+1)	1,430 (-8%)	4mo	$240,000	$168	59

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

Projected returns pro-forma

2.11% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 19.4%
• Equity multiple: 2.05×
• Total profit: $44,277
• Equity at exit: $60,041

10-year hold

• IRR: 21.5%
• Equity multiple: 3.87×
• Total profit: $120,258
• Equity at exit: $87,170

Cash invested: $41,972 (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 76432

• Home prices YoY: 2.0%
• Active inventory: 33
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $2,000 medium
• Mortgage (P&I): −$786
• Tax from tax record: −$212 /mo · $2,542/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$420
• Net cashflow: $520

Break-even live

Break-even rent $1,342

Max offer price $149,900

Occupancy floor 69%

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
409 5th St Blanket, TX	3.0	2.0	1200	$2,000	$1.67	43d	1	0.26mi
413 5th St Blanket, TX	3.0	2.0	1200	$2,000	$1.67	43d	1	0.27mi
200 Main St Blanket, TX	3.0	2.0	1200	$2,000	$1.67	43d	1	0.41mi

Listing history 7 events

1. 2026-05-14
   historical Active Option Contract
2. 2026-05-12
   listed $149,900 Active
3. 2019-12-02
   soldstatus
4. 2010-05-12
   soldstatus 334-char remark

   Show marketing remark (334 chars)

   Two bedroom, two bath, two-car garage, white brick home, with 1579 sq ft (CAD), metal roof, large 35 x 50 shop with offices, and two-car carport in front of garage on large shady lot. Large utility room--could be 3rd bedroom; wide hall--could be office. Storage area attached to garage. Beautiful yard with well. Call Sharron Bundick.

5. 2010-03-15
   historical 334-char remark

   Show marketing remark (334 chars)

   Two bedroom, two bath, two-car garage, white brick home, with 1579 sq ft (CAD), metal roof, large 35 x 50 shop with offices, and two-car carport in front of garage on large shady lot. Large utility room--could be 3rd bedroom; wide hall--could be office. Storage area attached to garage. Beautiful yard with well. Call Sharron Bundick.

6. 2009-08-20
   listed $69,500 334-char remark

   Show marketing remark (334 chars)

   Two bedroom, two bath, two-car garage, white brick home, with 1579 sq ft (CAD), metal roof, large 35 x 50 shop with offices, and two-car carport in front of garage on large shady lot. Large utility room--could be 3rd bedroom; wide hall--could be office. Storage area attached to garage. Beautiful yard with well. Call Sharron Bundick.

7. 2002-05-29
   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: $2,542 · $212/mo
• Projected year-2 tax: $2,743 · $229/mo
• Expected delta: +$201/yr (+$17/mo · 7.9%)

ⓘ 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 6/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥105°F today · 23 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,000
• − Mortgage interest: −$8,397
• − Property taxes: −$2,542
• − Insurance: −$750
• − Repairs & maintenance: −$1,920
• − Management: −$1,920
• − Depreciation: −$4,361
• Taxable income: $4,111
• Est. tax owed @ 24.0%: −$987
• After-tax cash flow: $5,249/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: Blanket ISD
• NCES district ID: 4810380
• Math proficiency: 20% ▼ -10.00%
• Reading proficiency: 35% ▼ -5.00%
• Median HH income: $43,678
• Composite: 26.43/100
• National rank: #12649
• State rank: #1046 of 1141 in TX

Livability — Blanket

• Score: 61/100
• State rank: #1023
• US rank: #18174

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Blanket, TX
• Population (ZIP): 1,376

Population outlook (Brown County) Hauer SSP2

• Today (2025): 38,381 people
• By 2030: 38,288 · -0.2%
• By 2040: 38,120 · -0.7%
• By 2050: 38,227 · -0.4%
• By 2075: 39,362 · +2.6%
• By 2100: 39,171 · +2.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Hispanic / Latino 17% Two or more races 14%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Italian 24% Slovak 2% Serbian 1%
• Foreign-born: 5% · Canada
• Languages at home: 86% English-only · Spanish 13%

Political lean MEDSL · Brown

• 2024 margin: Solid R (+73.9) · D 12.7% · R 86.6%
• 2008→2024 swing: -12.5pp toward R · 2008: -61.5pp · 2024: -73.9pp
• All cycles: 2024: R+73.9 2020: R+72.6 2016: R+74.5 2012: R+71.7 2008: R+61.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.11%
• Current HPI: 107.4171
• 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

+115.7% since first listed

7 events — show timeline

• 2026-05-14 Contingent — NTREIS
• 2026-05-12 Listed $149,900 NTREIS
• 2019-12-02 Sold (Public Records) — Public Records
• 2010-05-12 Sold (MLS) — NTREIS
• 2010-03-15 Listing Removed — NTREIS
• 2009-08-20 Listed $69,500 NTREIS
• 2002-05-29 Sold (Public Records) — Public Records

Property tax history

+5.2%/yr

Latest (2025): $2,542 · +3.4% YoY. Source: county tax records.