108 E Maple St · Keene, TX 76059

$235,000

3 bd · 1.0 ba · 1,569 sqft · MultiFamily public records · 137 Days on market

Built 1960 0.28 ac lot $150/sqft · at area comps Est $283k · 17% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.6/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Here's a steal for investors or first time home buyers!!! Tax market value is $361,317 and sellers only selling for $245K ! Plus a great cash Flow! Here's an opportunity to own a property walking distance to the SouthWestern Adventist University. Strong rental demand due to proximity to campus. Newer roof and flooring. Live in one unit and rent the rest to help you with the mortgage. Unit A has two bedrooms, and unit B,C,D are efficiencies. Or just rent all units for demand is high as many students look for more affordable place to rent. So look no further ! Start your affordable rental investment now ! Schedule a showing before it's gone! Sellers is offering $5,000 towards closing cost. The two bedrooms and one bath is renting for $1500, Two efficiencies are also rented for $800 each only one efficiency is available for rent.

Key facts

• Newer flooring
• Newer roof
• 0.28 acre lot

Tags

• NEWER ROOF
• NEWER FLOORING
• AFFORDABLE RENTAL INVESTMENT

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath multifamily listed at $235k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $235k).
• Recommended offer: $207k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.6% vs local median 3.2% in Keene — 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 (#249 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D+, employment D+, amenities F.
• Keene ISD (town): math 37% / reading 41% proficiency, ranked #447 of 826 in TX (top 54%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 73 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); 2,152 units permitted in Johnson County in 2024 (76 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Johnson County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $66k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 137 days — a 12% lower offer ($207k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 6y 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

• Watch-outs: property tax is 3.6% of price.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $206,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 137 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.65% ✓
• Cap rate: 11.57%
• Cash-on-cash: 18.84%
• DSCR: 1.84
• GRM: 5.0

CMA / ARV

• ARV (median comp): $282,858
• List price: $235,000
• Delta: -16.92%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 10.8%
• Equity multiple: 1.43×
• Total profit: $28,008
• Equity at exit: $35,039

10-year hold

• IRR: 19.9%
• Equity multiple: 2.68×
• Total profit: $110,345
• Equity at exit: $20,319

Cash invested: $65,800 (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 76059

• Home prices YoY: -7.0%
• Active inventory: 73
• Price-to-rent: 19.1×

Monthly cashflow live

• Estimated rent: $3,879 medium
• Mortgage (P&I): −$1,232
• Tax from tax record: −$701 /mo · $8,416/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$815
• Net cashflow: $1,033

Break-even live

Break-even rent $2,572

Max offer price $235,000

Occupancy floor 68%

Sensitivity live

Price	-10% $1,166	-5% $1,099	+0% $1,033	+5% $966	+10% $900
Rent	-10% $726	-5% $880	+0% $1,033	+5% $1,186	+10% $1,339
Rate	-1.0pp $1,151	-0.5pp $1,093	base $1,033	+0.5pp $972	+1.0pp $910

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
1× unit	2	1	$1,023
▸ 3× units	1	1	$2,856
Total (4 units)			$3,879

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: $58,750
• Closing costs: $7,050
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
101 Pine St Keene, TX	3.0	1.0	1323	$1,400	$1.06	15d	1	0.26mi
303 Pecan St Unit A Keene, TX	2.0	2.0	1166	$1,225	$1.05	1d	1	0.28mi
400 Wells Ct Keene, TX	3.0	2.0	1250	$1,295	$1.04	1d	1	0.32mi
800 Old Betsy Rd #16 Cleburne, TX	3.0	2.0	1178	$1,300	$1.10	1d	1	0.47mi
800 Old Betsy Rd #32 Cleburne, TX	3.0	2.0	1178	$1,300	$1.10	7d	1	0.47mi
204 Woodlawn Dr Keene, TX	4.0	3.0	1960	$1,950	$0.99	1d	1	0.63mi
1109 Summer Wheat St Cleburne, TX	4.0	2.0	1135	$1,550	$1.37	1d	1	0.91mi
27 Blue Star Dr #27 Keene, TX	3.0	2.0	1064	$925	$0.87	44d	1	1.46mi

Listing history 40 events

1. 2026-06-18
   days on market $235,000 Active 137 DOM
2. 2026-06-17
   days on market $235,000 Active 136 DOM
3. 2026-06-16
   days on market $235,000 Active 135 DOM
4. 2026-06-15
   days on market $235,000 Active 134 DOM
5. 2026-06-13
   days on market $235,000 Active 132 DOM
6. 2026-06-09
   days on market $235,000 Active 128 DOM
7. 2026-06-08
   days on market $235,000 Active 127 DOM
8. 2026-06-07
   days on market $235,000 Active 126 DOM
9. 2026-06-04
   days on market $235,000 Active 123 DOM
10. 2026-06-03
    days on market $235,000 Active 122 DOM
11. 2026-06-02
    days on market $235,000 Active 121 DOM
12. 2026-06-01
    days on market $235,000 Active 120 DOM
13. 2026-05-31
    days on market $235,000 Active 119 DOM
14. 2026-02-01
    listed $245,000 Active 842-char remark

    Show marketing remark (842 chars)

    Here's a steal for investors or first time home buyers!!! Tax market value is $361,317 and sellers only selling for $245K ! Plus a great cash Flow! Here's an opportunity to own a property walking distance to the SouthWestern Adventist University. Strong rental demand due to proximity to campus. Newer roof and flooring. Live in one unit and rent the rest to help you with the mortgage. Unit A has two bedrooms, and unit B,C,D are efficiencies. Or just rent all units for demand is high as many students look for more affordable place to rent. So look no further ! Start your affordable rental investment now ! Schedule a showing before it's gone! Sellers is offering $5,000 towards closing cost. The two bedrooms and one bath is renting for $1500, Two efficiencies are also rented for $800 each only one efficiency is available for rent.

15. 2025-11-30
    historical
16. 2025-07-01
    listed $240,000 Active
17. 2025-06-30
    historical
18. 2025-06-23
    status Active
19. 2025-06-19
    price $240,000
20. 2025-06-12
    historical Active Option Contract
21. 2025-04-11
    price $250,000
22. 2025-03-06
    status Active
23. 2025-02-11
    status Pending
24. 2025-01-23
    historical Active Option Contract
25. 2025-01-22
    status Active
26. 2025-01-09
    historical Active Option Contract
27. 2025-01-06
    listed $255,000 Active
28. 2023-08-31
    soldstatus
29. 2023-08-30
    soldstatus Closed
30. 2023-08-24
    status Pending
31. 2023-08-17
    historical Active Option Contract
32. 2023-08-07
    status Active
33. 2023-07-25
    historical Active Option Contract
34. 2023-07-16
    listed $249,900 Active
35. 2021-01-05
    soldstatus
36. 2020-12-31
    soldstatus Sold
37. 2020-11-30
    status Pending
38. 2020-11-18
    historical Active Option Contract
39. 2020-11-13
    listed $170,000 Active
40. 2004-02-24
    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: $8,416 · $701/mo
• Projected year-2 tax: $8,416 · $701/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 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 24 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $46,548
• − Mortgage interest: −$13,164
• − Property taxes: −$8,416
• − Insurance: −$1,175
• − Repairs & maintenance: −$3,724
• − Management: −$3,724
• − Depreciation: −$6,836
• Taxable income: $9,509
• Est. tax owed @ 24.0%: −$2,282
• After-tax cash flow: $10,111/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: Keene ISD
• NCES district ID: 4825230
• Math proficiency: 37% ▼ -1.00%
• Reading proficiency: 41% ▲ 3.00%
• Median HH income: $40,764
• Composite: 32.77/100
• National rank: #5632
• State rank: #447 of 826 in TX

Livability — Keene

• Score: 72/100
• State rank: #249
• US rank: #5923

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Keene, TX
• City population: 5,333
• Population (ZIP): 5,333

Population outlook (Johnson County) Hauer SSP2

• Today (2025): 179,678 people
• By 2030: 189,208 · +5.3%
• By 2040: 207,261 · +15.4%
• By 2050: 223,064 · +24.1%
• By 2075: 259,979 · +44.7%
• By 2100: 275,395 · +53.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 54% Hispanic / Latino 32% Two or more races 13% Asian 6% Black 2%
• Hispanic origin (detail): Mexican 25% Puerto Rican 2%
• Common ancestry: Italian 2% Estonian 1% Slovak 1%
• Foreign-born: 16% · Canada, Dominican Republic
• Languages at home: 69% English-only · Spanish 27% Tagalog/Filipino 2% Other Indo-European 2%

Political lean MEDSL · Johnson

• 2024 margin: Solid R (+51.4) · D 23.9% · R 75.3%
• 2008→2024 swing: -3.9pp toward R · 2008: -47.5pp · 2024: -51.4pp
• All cycles: 2024: R+51.4 2020: R+53.0 2016: R+58.3 2012: R+55.6 2008: R+47.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -17.86%
• Current HPI: 237.62
• 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

+44.1% since first listed

27 events — show timeline

• 2026-02-01 Listed $245,000 NTREIS
• 2025-11-30 Listing Removed — NTREIS
• 2025-07-01 Listed $240,000 NTREIS
• 2025-06-30 Listing Removed — NTREIS
• 2025-06-23 Relisted — NTREIS
• 2025-06-19 Price Changed $240,000 NTREIS
• 2025-06-12 Contingent — NTREIS
• 2025-04-11 Price Changed $250,000 NTREIS
• 2025-03-06 Relisted — NTREIS
• 2025-02-11 Pending — NTREIS
• 2025-01-23 Contingent — NTREIS
• 2025-01-22 Relisted — NTREIS
• 2025-01-09 Contingent — NTREIS
• 2025-01-06 Listed $255,000 NTREIS
• 2023-08-31 Sold (Public Records) — Public Records
• 2023-08-30 Sold (MLS) — NTREIS
• 2023-08-24 Pending — NTREIS
• 2023-08-17 Contingent — NTREIS
• 2023-08-07 Relisted — NTREIS
• 2023-07-25 Contingent — NTREIS
• 2023-07-16 Listed $249,900 NTREIS
• 2021-01-05 Sold (Public Records) — Public Records
• 2020-12-31 Sold (MLS) — NTREIS
• 2020-11-30 Pending — NTREIS
• 2020-11-18 Contingent — NTREIS
• 2020-11-13 Listed $170,000 NTREIS
• 2004-02-24 Sold (Public Records) — Public Records

Property tax history

+8.6%/yr

Latest (2025): $8,416 · -1.3% YoY. Source: county tax records.