200 W Spencer St · Bangs, TX 76823

$129,900

3 bd · 1.0 ba · 1,362 sqft · SingleFamily public records · 53 Days on market

Built 1966 8,756 sqft lot $95/sqft · 7% above area Est $121k · 7% over

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Why this score? — see what drove the D 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 +10.6/30.0
• Appreciation +7.5/10.0
• ARV discount +4.4/15.0
• Schools +4.3/10.0
• Livability +3.2/5.0
• 1% rule +3.1/10.0
• DSCR +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

This 3 bed, 1 bath, 1,362 sq ft home is located in Bangs, Texas. It features a large living room with laminate flooring and a breakfast bar open to the kitchen. The garage has been converted into a large and comfortable master bedroom with his and her closets. Additional bedrooms are separate from the master and each feature a large walk-in closet. The kitchen is spacious with plentiful cabinet space, a dual basin sink with garbage disposal, and tile floor. Fully privacy-fenced backyard contains a dog run and storage shed. Call today to schedule a showing! 325-998-9898

Key facts

• Electric central ac
• Gas central heat
• Open-concept layout

Tags

• OPEN-CONCEPT LAYOUT
• EXTRA-LARGE LIVING AREA
• SPACIOUS UTILITY-LAUNDRY ROOM
• RECENTLY INSTALLED METAL ROOF
• GAS CENTRAL HEAT
• ELECTRIC CENTRAL AC

Property features AI

Finance

• Other: Property is for sale (standard listing); Possession at closing/funding
• Financial info: Listing terms: Cash or Conventional; No second mortgage reported
• HOA & community: No association

Exterior

• Parking: Detached carport (covered); Asphalt driveway; Direct access; Paved parking; 1 carport space
• Security: No surveillance devices reported
• Utilities: City water; City sewer; Electricity connected; Individual gas meter; Individual water meter; Cable available; All-weather road / asphalt access
• Home design: Single family residence; One-story; Residential property; Built in 1966; Interior lot, level
• Construction: Brick and siding exterior; Metal roof; Slab foundation
• Exterior features: Covered patio/porch; Private yard; Large backyard with grass; Dog run; Gutters; Shed(s); Chain link and privacy fencing

Interior

• Kitchen: Dishwasher; Disposal; Gas range
• Bedrooms: 3 bedrooms (all on the main/one level)
• Flooring: Carpet; Ceramic tile; Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (natural gas); Central air; Ceiling fan(s); Electric cooling
• Interior features: Open floorplan; Eat-in kitchen; Pantry; Walk-in closet(s); Cable TV available; Vented exhaust fan
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $-64 ($-771/yr) — negative.
• To cash-flow at today's rent, offer at most $119k (8.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $105k (19.0% below list).
• Recommended offer: $105k (19.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 64/100 on livability (#739 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+; Watch: employment D+, health & safety D+, amenities F.
• Bangs ISD (rural): math 49% / reading 53% proficiency, ranked #178 of 826 in TX (top 22%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: J B Stephens El (math 52% / reading 52%, grade C-, #742 of 4,322 statewide, top 19%, 418 students, 71% FRL) — zoned schools average 71% FRL vs 50% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 40 active listings in the ZIP; 142 units permitted in Brown County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($898 loan paydown + $6k appreciation (4.9% local appreciation)).
• At projected returns (4.9% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 53 days — a 3% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y 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; severe wildfire risk; extreme-heat days projected 6→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $105,240 (19.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 53 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
3. Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 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: 0.81% ✗
• Cap rate: 5.70%
• Cash-on-cash: -2.12%
• DSCR: 0.91
• GRM: 10.3

CMA / ARV

• ARV (median comp): $121,495
• List price: $129,900
• Delta: 6.92%
• 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
113 W Kyle St	0.16mi	2/1.0 (-1)	1,438 (+6%)	12mo	$20,900	$15	68
704 N Sixth St	0.50mi	3/1.5	1,351 (-1%)	11mo	$175,000	$130	64
400 Palmer St	0.31mi	3/2.0	1,430 (+5%)	11mo	$169,900	$119	64
209 Martin	0.28mi	3/2.0	1,536 (+13%)	3mo	$130,000	$85	60
1101 W Hall St	0.66mi	3/1.5	1,371 (+1%)	8mo	$165,000	$120	59
114 W Spencer St	0.17mi	2/2.0 (-1)	1,551 (+14%)	2mo	$189,000	$122	58
202 Poco St	0.62mi	3/2.0	1,275 (-6%)	6mo	$249,900	$196	51
807 Gantt St	0.47mi	4/2.0 (+1)	1,526 (+12%)	2mo	$154,500	$101	48
502 Palmer St	0.37mi	3/3.0	1,510 (+11%)	12mo	$72,000	$48	46
102 S West St	0.37mi	2/1.0 (-1)	1,177 (-14%)	11mo	$140,000	$119	46
206 Poco St	0.62mi	2/1.0 (-1)	1,209 (-11%)	5mo	$149,500	$124	43
1203 Gantt St	0.70mi	4/2.0 (+1)	1,223 (-10%)	12mo	$195,000	$159	31

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

Projected returns pro-forma

4.9% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 10.8%
• Equity multiple: 1.69×
• Total profit: $25,141
• Equity at exit: $72,846

10-year hold

• IRR: 12.2%
• Equity multiple: 3.20×
• Total profit: $79,938
• Equity at exit: $125,093

Cash invested: $36,372 (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 76823

• Home prices YoY: 2.8%
• Active inventory: 40
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $1,052 medium
• Mortgage (P&I): −$681
• Tax from tax record: −$160 /mo · $1,924/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$221
• Net cashflow: $-64

Break-even live

Break-even rent $1,134

Max offer price $118,547

Occupancy floor —

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-18
   days on market $129,900 Active 53 DOM
2. 2026-06-17
   days on market $129,900 Active 52 DOM
3. 2026-06-16
   days on market $129,900 Active 51 DOM
4. 2026-06-15
   days on market $129,900 Active 50 DOM
5. 2026-06-13
   days on market $129,900 Active 48 DOM
6. 2026-06-12
   days on market $129,900 Active 47 DOM
7. 2026-06-09
   days on market $129,900 Active 44 DOM
8. 2026-06-08
   days on market $129,900 Active 43 DOM
9. 2026-06-08
   days on market $129,900 Active 42 DOM
10. 2026-06-05
    days on market $129,900 Active 40 DOM
11. 2026-06-03
    days on market $129,900 Active 38 DOM
12. 2026-06-02
    days on market $129,900 Active 37 DOM
13. 2026-06-01
    days on market $129,900 Active 36 DOM
14. 2026-05-31
    days on market $129,900 Active 35 DOM
15. 2026-04-24
    listed $133,300 Active 890-char remark
16. 2019-11-27
    soldstatus Sold 575-char remark

    Show marketing remark (575 chars)

    This 3 bed, 1 bath, 1,362 sq ft home is located in Bangs, Texas. It features a large living room with laminate flooring and a breakfast bar open to the kitchen. The garage has been converted into a large and comfortable master bedroom with his and her closets. Additional bedrooms are separate from the master and each feature a large walk-in closet. The kitchen is spacious with plentiful cabinet space, a dual basin sink with garbage disposal, and tile floor. Fully privacy-fenced backyard contains a dog run and storage shed. Call today to schedule a showing! 325-998-9898

17. 2019-11-26
    soldstatus
18. 2019-11-15
    status Pending 575-char remark

    Show marketing remark (575 chars)

    This 3 bed, 1 bath, 1,362 sq ft home is located in Bangs, Texas. It features a large living room with laminate flooring and a breakfast bar open to the kitchen. The garage has been converted into a large and comfortable master bedroom with his and her closets. Additional bedrooms are separate from the master and each feature a large walk-in closet. The kitchen is spacious with plentiful cabinet space, a dual basin sink with garbage disposal, and tile floor. Fully privacy-fenced backyard contains a dog run and storage shed. Call today to schedule a showing! 325-998-9898

19. 2019-11-05
    listed Active Option Contract 575-char remark

    Show marketing remark (575 chars)

    This 3 bed, 1 bath, 1,362 sq ft home is located in Bangs, Texas. It features a large living room with laminate flooring and a breakfast bar open to the kitchen. The garage has been converted into a large and comfortable master bedroom with his and her closets. Additional bedrooms are separate from the master and each feature a large walk-in closet. The kitchen is spacious with plentiful cabinet space, a dual basin sink with garbage disposal, and tile floor. Fully privacy-fenced backyard contains a dog run and storage shed. Call today to schedule a showing! 325-998-9898

20. 2019-10-30
    listed $85,950 575-char remark

    Show marketing remark (575 chars)

    This 3 bed, 1 bath, 1,362 sq ft home is located in Bangs, Texas. It features a large living room with laminate flooring and a breakfast bar open to the kitchen. The garage has been converted into a large and comfortable master bedroom with his and her closets. Additional bedrooms are separate from the master and each feature a large walk-in closet. The kitchen is spacious with plentiful cabinet space, a dual basin sink with garbage disposal, and tile floor. Fully privacy-fenced backyard contains a dog run and storage shed. Call today to schedule a showing! 325-998-9898

21. 2006-05-16
    soldstatus
22. 2003-10-22
    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: $1,924 · $160/mo
• Projected year-2 tax: $2,377 · $198/mo
• Expected delta: +$453/yr (+$38/mo · 23.6%)

ⓘ 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 8/10 Severe
• 🌡 Heat 7/10 Severe 6 d/yr ≥106°F today · 20 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: $12,629
• − Mortgage interest: −$7,276
• − Property taxes: −$1,924
• − Insurance: −$650
• − Repairs & maintenance: −$1,010
• − Management: −$1,010
• − Depreciation: −$3,779
• Taxable loss: −$3,021
• Est. tax savings @ 24.0%: +$725
• After-tax cash flow: $-46/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: Bangs ISD
• NCES district ID: 4809390
• Math proficiency: 49% ▲ 6.00%
• Reading proficiency: 53% ▲ 8.00%
• Median HH income: $43,702
• Composite: 43.0/100
• National rank: #3105
• State rank: #178 of 826 in TX

Livability — Bangs

• Score: 64/100
• State rank: #739
• US rank: #13470

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bangs, TX
• Population (ZIP): 2,911

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 (79%)
• Race & ethnicity: White 79% Hispanic / Latino 12% Two or more races 10% Black 5%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Italian 20% Slovak 3% Serbian 2%
• Foreign-born: 3% · Canada, China
• Languages at home: 89% English-only · Spanish 10% French/Haitian/Cajun 1%

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: ▲ 4.90%
• Current HPI: 182.4666
• 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

+51.1% since first listed

9 events — show timeline

• 2026-05-26 Price Changed $129,900 NTREIS
• 2026-04-24 Listed $133,300 NTREIS
• 2019-11-27 Sold (MLS) — NTREIS
• 2019-11-26 Sold (Public Records) — Public Records
• 2019-11-15 Pending — NTREIS
• 2019-11-05 Listed — NTREIS
• 2019-10-30 Listed $85,950 NTREIS
• 2006-05-16 Sold (Public Records) — Public Records
• 2003-10-22 Sold (Public Records) — Public Records

Property tax history

+2.8%/yr

Latest (2025): $1,924 · -5.9% YoY. Source: county tax records.