512 NW 5th St · Mineral Wells, TX 76067

$108,999

2 bd · 1.0 ba · 992 sqft · SingleFamily public records · 185 Days on market

5,009 sqft lot $110/sqft · 30% below area Est $155k · 30% under

---

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 +17.8/30.0
• ARV discount +15.0/15.0
• DSCR +5.6/10.0
• 1% rule +5.3/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

ADORABLE 1940s BUNGALOW – Investor Special! Incredible opportunity to flip or buy-and-hold in booming northwest Mineral Wells. Solid bones, needs structural and cosmetic renovation. Priced for a fast, as-is sale. 2 Bed, 1 Bath. Discover vintage charm with this character-filled bungalow, featuring original hardwood floors, this home showcases the quality craftsmanship and sturdy old-growth lumber that define 1940s construction. With solid bones and authentic period details waiting to shine, this property is ready for updates for it's next life. Within walking distance of Crazy Water and Baker Hotels. High potential for short, mid or long term rental with revitalization of downtown Mineral Wells. Perfect for investors seeking a value-add opportunity in a strong market. Don't miss your chance to own a piece of Mineral Wells history! Seller entertaining all solid offers!

Key facts

• 5,009 sq ft lot
• Parking
• Listed 184 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $109k.

Deal economics

• At list price, monthly cash flow is $90 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $109k).
• Recommended offer: $96k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.3% vs local median 2.7% in Mineral Wells — 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 (#278 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D+, employment D, schools F.
• Mineral Wells ISD (town): math 30% / reading 30% proficiency, ranked #636 of 826 in TX (top 77%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 277 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); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; 27 units permitted in Palo Pinto County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $753 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Palo Pinto County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 185 days — a 12% lower offer ($96k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 15y ago; this cycle's ask has dropped $41k (27%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: 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 $95,919 (12.0% below list)

Questions for the listing agent

1. It's been on market 185 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 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 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: 1.03% ✓
• Cap rate: 7.29%
• Cash-on-cash: 3.56%
• DSCR: 1.16
• GRM: 8.1

CMA / ARV

• ARV (median comp): $154,888
• List price: $108,999
• Delta: -29.63%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
512 NW 9th St	0.21mi	2/1.0	916 (-8%)	5mo	$139,900	$153	73
300 NW 13th St	0.42mi	2/1.0	936 (-6%)	2mo	$144,500	$154	69
403 NE 7th Ave	0.60mi	3/1.0 (+1)	960 (-3%)	11mo	$154,000	$160	53
116 NW 11th St	0.37mi	2/2.0	912 (-8%)	16mo	$169,900	$186	52
1608 1st Ave	0.54mi	2/1.0	852 (-14%)	8mo	$114,900	$135	45
515 SW 8th St	0.72mi	2/1.0	1,076 (+8%)	10mo	$164,770	$153	44
1502 NW 3rd Ave	0.47mi	2/1.0	874 (-12%)	19mo	$139,900	$160	43
805 NE 1st St	0.67mi	3/1.0 (+1)	975 (-2%)	23mo	$185,000	$190	42
603 SE 2nd St	0.64mi	2/1.0	888 (-10%)	15mo	$93,500	$105	40
216 8th St	0.72mi	3/1.0 (+1)	864 (-13%)	7mo	$109,000	$126	34

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: -10.7%
• Equity multiple: 0.61×
• Total profit: $-11,856
• Equity at exit: $16,252

10-year hold

• IRR: -1.3%
• Equity multiple: 0.91×
• Total profit: $-2,727
• Equity at exit: $9,424

Cash invested: $30,520 (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 76067

• Active inventory: 277
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,123 medium
• Mortgage (P&I): −$572
• Tax from tax record: −$180 /mo · $2,156/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$236
• Net cashflow: $90

Break-even live

Break-even rent $1,008

Max offer price $108,999

Occupancy floor 87%

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: $27,250
• Closing costs: $3,270
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
707 NW 4th Ave #103 Mineral Wells, TX	1.0	1.0	590	$1,025	$1.74	43d	1	0.08mi
707 NW 4th Ave Unit 202 Mineral Wells, TX	1.0	1.5	878	$1,150	$1.31	43d	1	0.08mi
1101 SE 15th St Unit 1101 Mineral Wells, TX	1.0	1.0	595	$895	$1.50	2d	1	1.30mi

Listing history 25 events

1. 2026-06-19
   days on market $108,999 Active 185 DOM
2. 2026-06-18
   days on market $108,999 Active 184 DOM
3. 2026-06-17
   days on market $108,999 Active 183 DOM
4. 2026-06-16
   days on market $108,999 Active 182 DOM
5. 2026-06-15
   days on market $108,999 Active 181 DOM
6. 2026-06-14
   days on market $108,999 Active 179 DOM
7. 2026-06-12
   days on market $108,999 Active 178 DOM
8. 2026-06-09
   days on market $108,999 Active 175 DOM
9. 2026-06-08
   days on market $108,999 Active 174 DOM
10. 2026-06-07
    days on market $108,999 Active 173 DOM
11. 2026-06-07
    days on market $108,999 Active 172 DOM
12. 2026-06-04
    days on market $108,999 Active 169 DOM
13. 2026-06-02
    days on market $108,999 Active 168 DOM
14. 2026-06-01
    days on market $108,999 Active 167 DOM
15. 2026-05-31
    days on market $108,999 Active 166 DOM
16. 2026-05-31
    days on market $108,999 Active 165 DOM
17. 2026-04-03
    price $108,999 888-char remark

    Show marketing remark (888 chars)

    ADORABLE 1940s BUNGALOW – Investor Special! Incredible opportunity to flip or buy-and-hold in booming northwest Mineral Wells. Solid bones, needs structural and cosmetic renovation. Priced for a fast, as-is sale. 2 Bed, 1 Bath. Discover vintage charm with this character-filled bungalow, featuring original hardwood floors, this home showcases the quality craftsmanship and sturdy old-growth lumber that define 1940s construction. With solid bones and authentic period details waiting to shine, this property is ready for updates for it's next life. Within walking distance of Crazy Water and Baker Hotels. High potential for short, mid or long term rental with revitalization of downtown Mineral Wells. Perfect for investors seeking a value-add opportunity in a strong market. Don't miss your chance to own a piece of Mineral Wells history! Seller entertaining all solid offers!

18. 2026-02-15
    price $144,500 888-char remark

    Show marketing remark (888 chars)

    ADORABLE 1940s BUNGALOW – Investor Special! Incredible opportunity to flip or buy-and-hold in booming northwest Mineral Wells. Solid bones, needs structural and cosmetic renovation. Priced for a fast, as-is sale. 2 Bed, 1 Bath. Discover vintage charm with this character-filled bungalow, featuring original hardwood floors, this home showcases the quality craftsmanship and sturdy old-growth lumber that define 1940s construction. With solid bones and authentic period details waiting to shine, this property is ready for updates for it's next life. Within walking distance of Crazy Water and Baker Hotels. High potential for short, mid or long term rental with revitalization of downtown Mineral Wells. Perfect for investors seeking a value-add opportunity in a strong market. Don't miss your chance to own a piece of Mineral Wells history! Seller entertaining all solid offers!

19. 2025-12-15
    listed $149,500 Active 888-char remark

    Show marketing remark (888 chars)

    ADORABLE 1940s BUNGALOW – Investor Special! Incredible opportunity to flip or buy-and-hold in booming northwest Mineral Wells. Solid bones, needs structural and cosmetic renovation. Priced for a fast, as-is sale. 2 Bed, 1 Bath. Discover vintage charm with this character-filled bungalow, featuring original hardwood floors, this home showcases the quality craftsmanship and sturdy old-growth lumber that define 1940s construction. With solid bones and authentic period details waiting to shine, this property is ready for updates for it's next life. Within walking distance of Crazy Water and Baker Hotels. High potential for short, mid or long term rental with revitalization of downtown Mineral Wells. Perfect for investors seeking a value-add opportunity in a strong market. Don't miss your chance to own a piece of Mineral Wells history! Seller entertaining all solid offers!

20. 2011-09-01
    historical
21. 2011-02-17
    listed $46,500 Active
22. 2007-07-16
    soldstatus
23. 2004-04-30
    soldstatus
24. 2000-09-07
    soldstatus
25. 1997-11-03
    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: $2,156 · $180/mo
• Projected year-2 tax: $2,156 · $180/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 7/10 Severe
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 23 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 16% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,476
• − Mortgage interest: −$6,106
• − Property taxes: −$2,156
• − Insurance: −$545
• − Repairs & maintenance: −$1,078
• − Management: −$1,078
• − Depreciation: −$3,171
• Taxable loss: −$658
• Est. tax savings @ 24.0%: +$158
• After-tax cash flow: $1,244/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: Mineral Wells ISD
• NCES district ID: 4830950
• Math proficiency: 30% ▼ -10.00%
• Reading proficiency: 30% ▼ -5.00%
• Median HH income: $40,027
• Composite: 25.26/100
• National rank: #7500
• State rank: #636 of 826 in TX

Livability — Mineral Wells

• Score: 72/100
• State rank: #278
• US rank: #6474

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mineral Wells, TX
• County: Palo Pinto County · 21,080 people
• City population: 21,080
• Metro: Mineral Wells, TX
• Population (ZIP): 21,080
• Household income: $62,190
• Rent vs Own: 35.5% rent · 64.5% own
• Severe rent burden: 745.0

Population outlook (Palo Pinto County) Hauer SSP2

• Today (2025): 27,500 people
• By 2030: 27,079 · -1.5%
• By 2040: 26,135 · -5.0%
• By 2050: 25,215 · -8.3%
• By 2075: 23,416 · -14.9%
• By 2100: 20,300 · -26.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Hispanic / Latino 22% Two or more races 9% Black 4% Asian 1%
• Hispanic origin (detail): Mexican 19%
• Common ancestry: Lithuanian 4% Italian 1% Slovak 1%
• Foreign-born: 6% · Canada
• Languages at home: 86% English-only · Spanish 13% Other Indo-European 1%

Political lean MEDSL · Palo Pinto

• 2024 margin: Solid R (+67.1) · D 16.1% · R 83.2%
• 2008→2024 swing: -18.9pp toward R · 2008: -48.2pp · 2024: -67.1pp
• All cycles: 2024: R+67.1 2020: R+64.1 2016: R+64.1 2012: R+59.8 2008: R+48.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -134.09%
• Current HPI: 240.3647
• Rent YoY: —
• Metro: Mineral Wells, 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

+134.4% since first listed

9 events — show timeline

• 2026-04-03 Price Changed $108,999 NTREIS
• 2026-02-15 Price Changed $144,500 NTREIS
• 2025-12-15 Listed $149,500 NTREIS
• 2011-09-01 Listing Removed — NTREIS
• 2011-02-17 Listed $46,500 NTREIS
• 2007-07-16 Sold (Public Records) — Public Records
• 2004-04-30 Sold (Public Records) — Public Records
• 2000-09-07 Sold (Public Records) — Public Records
• 1997-11-03 Sold (Public Records) — Public Records

Property tax history

+8.9%/yr

Latest (2025): $2,156 · -1.4% YoY. Source: county tax records.