1011 Prairie St · Columbus, TX 78934

$185,000

3 bd · 2.0 ba · 1,434 sqft · SingleFamily public records · 70 Days on market

Built 1940 0.39 ac lot $129/sqft · 28% below area Est $257k · 28% 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 +18.2/30.0
• ARV discount +15.0/15.0
• DSCR +5.7/10.0
• 1% rule +4.7/10.0
• Livability +3.6/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Opportunity awaits with this charming 1940 fixer-upper ideally located within walking distance to downtown Columbus, restaurants, grocery stores & places of worship. This 1,434 SF home (per CCAD) offers 3 bedrooms & 2 full baths, with an additional flexible room off the kitchen that could serve as a 4th bedroom, office or hobby space. Original character shines through with solid wood doors & potential hardwood floors hidden beneath the carpet. The spacious kitchen provides room for a breakfast table & features vinyl flooring. Lots of outdoor storage in the two outbuildings & yes, this one has a wonderful 2 car detached garage with updated overhead doors. Situated on approximately 0.4 acres, the property offers room for expansion, gardening or outdoor projects & you will have no worries here as this home is not located in the flood plain. Perfect whether you're looking to renovate & owner occupy, or resell or create a rental investment, this property offers exceptional potential.

Key facts

• Outdoor storage
• Flexible room
• Original character

Tags

• WALKING DISTANCE TO DOWNTOWN
• FLEXIBLE ROOM
• ORIGINAL CHARACTER
• OUTDOOR STORAGE
• ROOM FOR EXPANSION

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $165 ($2k/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 $179k (3.1% below list).
• Recommended offer: $174k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.4% vs local median 2.4% in Columbus — 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 (#295 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: health & safety C-, amenities F, commute F.
• Columbus ISD (town): math 34% / reading 34% proficiency, ranked #531 of 826 in TX (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 126 active listings in the ZIP; 29 units permitted in Colorado County in 2024 (0 in 5+ unit buildings).

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.

Negotiation context

• It's been on market 70 days — a 6% lower offer ($174k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $173,900 (6.0% below list)

Questions for the listing agent

1. It's been on market 70 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 0.97% ✗
• Cap rate: 7.36%
• Cash-on-cash: 3.82%
• DSCR: 1.17
• GRM: 8.6

CMA / ARV

• ARV (median comp): $257,260
• List price: $185,000
• Delta: -28.09%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
903 Bowie St	0.18mi	2/1.5 (-1)	1,464 (+2%)	2mo	$254,900	$174	80
623 Walnut St	0.11mi	2/2.0 (-1)	1,631 (+14%)	4mo	$325,000	$199	64
104 Draper St	0.69mi	2/2.0 (-1)	1,396 (-3%)	2mo	$194,500	$139	57
704 Charter St	0.48mi	3/2.0	1,568 (+9%)	7mo	$265,000	$169	56
211 Center	0.40mi	2/2.0 (-1)	1,340 (-7%)	11mo	$299,000	$223	56
1027 Wallace St	0.58mi	3/2.0	1,513 (+6%)	10mo	$277,000	$183	56
1216 Live Oak St	0.17mi	3/1.0	1,254 (-13%)	16mo	$320,000	$255	54
126 Jane Dr	0.69mi	3/2.0	1,421 (-1%)	20mo	$199,999	$141	50
236 Robson St	0.52mi	3/2.0	1,560 (+9%)	23mo	$270,000	$173	42
121 Banks St	0.72mi	2/2.0 (-1)	1,329 (-7%)	9mo	$189,000	$142	42
307 Charter St	0.70mi	3/3.5	1,506 (+5%)	20mo	$310,000	$206	36
225 Jones St	0.61mi	2/2.0 (-1)	1,272 (-11%)	22mo	$295,000	$232	29

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: -10.3%
• Equity multiple: 0.62×
• Total profit: $-19,458
• Equity at exit: $27,584

10-year hold

• IRR: -0.9%
• Equity multiple: 0.93×
• Total profit: $-3,369
• Equity at exit: $15,995

Cash invested: $51,800 (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 78934

• Home prices YoY: -22.9%
• Active inventory: 126
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,793 medium
• Mortgage (P&I): −$970
• Tax from tax record: −$204 /mo · $2,449/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$377
• Net cashflow: $165

Break-even live

Break-even rent $1,584

Max offer price $185,000

Occupancy floor 86%

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $185,000 Active 70 DOM
2. 2026-06-17
   days on market $185,000 Active 69 DOM
3. 2026-06-16
   days on market $185,000 Active 68 DOM
4. 2026-06-15
   days on market $185,000 Active 67 DOM
5. 2026-06-13
   days on market $185,000 Active 65 DOM
6. 2026-06-12
   days on market $185,000 Active 64 DOM
7. 2026-06-09
   days on market $185,000 Active 61 DOM
8. 2026-06-08
   days on market $185,000 Active 60 DOM
9. 2026-06-08
   days on market $185,000 Active 59 DOM
10. 2026-06-05
    days on market $185,000 Active 57 DOM
11. 2026-06-03
    days on market $185,000 Active 55 DOM
12. 2026-06-02
    days on market $185,000 Active 54 DOM
13. 2026-06-02
    price $185,000 Active 53 DOM
14. 2026-06-01
    days on market $199,000 Active 53 DOM
15. 2026-05-31
    days on market $199,000 Active 52 DOM
16. 2026-04-09
    listed $199,000 Active 1022-char remark

    Show marketing remark (1022 chars)

    Opportunity awaits with this charming 1940 fixer-upper ideally located within walking distance to downtown Columbus, restaurants, grocery stores & places of worship. This 1,434 SF home (per CCAD) offers 3 bedrooms & 2 full baths, with an additional flexible room off the kitchen that could serve as a 4th bedroom, office or hobby space. Original character shines through with solid wood doors & potential hardwood floors hidden beneath the carpet. The spacious kitchen provides room for a breakfast table & features vinyl flooring. Lots of outdoor storage in the two outbuildings & yes, this one has a wonderful 2 car detached garage with updated overhead doors. Situated on approximately 0.4 acres, the property offers room for expansion, gardening or outdoor projects & you will have no worries here as this home is not located in the flood plain. Perfect whether you're looking to renovate & owner occupy, or resell or create a rental investment, this property offers exceptional potential.

17. 2013-11-13
    soldstatus
18. 1994-05-15
    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: $2,449 · $204/mo
• Projected year-2 tax: $3,386 · $282/mo
• Expected delta: +$936/yr (+$78/mo · 38.2%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥112°F today · 22 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% 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: $21,514
• − Mortgage interest: −$10,363
• − Property taxes: −$2,449
• − Insurance: −$925
• − Repairs & maintenance: −$1,721
• − Management: −$1,721
• − Depreciation: −$5,382
• Taxable loss: −$1,047
• Est. tax savings @ 24.0%: +$251
• After-tax cash flow: $2,231/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: Columbus ISD
• NCES district ID: 4814700
• Math proficiency: 34% ▼ -20.00%
• Reading proficiency: 34% ▼ -8.00%
• Median HH income: $46,130
• Composite: 29.16/100
• National rank: #6578
• State rank: #531 of 826 in TX

Livability — Columbus

• Score: 71/100
• State rank: #295
• US rank: #6751

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Columbus, TX
• City population: 6,833
• Population (ZIP): 6,833

Population outlook (Colorado County) Hauer SSP2

• Today (2025): 20,932 people
• By 2030: 20,803 · -0.6%
• By 2040: 20,518 · -2.0%
• By 2050: 20,325 · -2.9%
• By 2075: 20,086 · -4.0%
• By 2100: 18,228 · -12.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 58% Hispanic / Latino 26% Black 11% Two or more races 8% Asian 1%
• Hispanic origin (detail): Mexican 20%
• Common ancestry: Lithuanian 3% Slovak 2% Portuguese 1%
• Foreign-born: 10% · Canada, Jamaica, Vietnam
• Languages at home: 84% English-only · Spanish 14%

Political lean MEDSL · Colorado

• 2024 margin: Solid R (+57.2) · D 21.1% · R 78.3%
• 2008→2024 swing: -17.9pp toward R · 2008: -39.4pp · 2024: -57.2pp
• All cycles: 2024: R+57.2 2020: R+50.6 2016: R+51.2 2012: R+49.3 2008: R+39.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -60.66%
• Current HPI: 203.9833
• 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

3 events — show timeline

• 2026-04-09 Listed $199,000 HARMLS
• 2013-11-13 Sold (Public Records) — Public Records
• 1994-05-15 Sold (Public Records) — Public Records

Property tax history

+2.8%/yr

Latest (2025): $2,449 · +9.6% YoY. Source: county tax records.