317/319 Elba St · Bowie, TX 76230

$65,000

2 bd · 1.0 ba · 1,748 sqft · SingleFamily public records · 16 Days on market

Built 1912 0.40 ac lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +3.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Here's your opportunity to own two homes on just under half an acre in a convenient location near downtown Bowie. Whether you're looking to expand your rental portfolio, create a multi-generational living setup, or take on your next renovation project, this property offers plenty of potential. Situated within walking distance of downtown Bowie, you'll enjoy easy access to local shopping, dining, and amenities. The generous lot provides ample outdoor space and flexibility for future improvements. Don't miss this chance to invest in a property with income-producing possibilities and a prime location. Bring your vision and unlock the potential of this unique Bowie opportunity!

Key facts

• Ample outdoor space
• Walking distance
• Convenient location

Tags

• HALF AN ACRE
• CONVENIENT LOCATION
• WALKING DISTANCE
• LOCAL SHOPPING
• AMPLE OUTDOOR SPACE
• INCOME PRODUCING POSSIBILITIES

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $576 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $64k (1.5% below list) — sets the bar for market timing.
• Cap rate 16.9% vs local median 3.1% in Bowie — 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 64/100 on livability (#796 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, schools D, amenities F.
• Bowie ISD (town): math 34% / reading 41% proficiency, ranked #469 of 826 in TX (top 57%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 238 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); 23 units permitted in Montague County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Montague County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($64k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1912 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $64,025 (1.5% below list)

Questions for the listing agent

1. Built in 1912 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 1.94% ✓
• Cap rate: 16.92%
• Cash-on-cash: 37.97%
• DSCR: 2.69
• GRM: 4.3

CMA / ARV

• ARV (on-the-fly): $241,224
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
307 Elba St	0.03mi	2/1.0	1,690 (-3%)	8mo	$59,000	$35	86
421 Elba St	0.13mi	3/1.0 (+1)	1,704 (-2%)	7mo	$169,999	$100	79
307 Rock St	0.36mi	3/2.0 (+1)	1,760 (+1%)	0mo	$219,900	$125	73
305 E Nelson St	0.19mi	3/2.0 (+1)	1,792 (+2%)	7mo	$138,000	$77	72
702 Pillar St	0.56mi	3/2.0 (+1)	1,741 (-0%)	2mo	$349,000	$200	62
101 Mcwilliams Dr	0.55mi	3/2.0 (+1)	1,684 (-4%)	1mo	$299,000	$178	58
1408 Nugent St	0.62mi	3/2.0 (+1)	1,760 (+1%)	5mo	$240,000	$136	57
506 Orchard St	0.47mi	3/2.0 (+1)	1,624 (-7%)	1mo	$224,000	$138	57
1403 Hulme St	0.64mi	3/2.0 (+1)	1,685 (-4%)	1mo	$279,000	$166	54
501 Orchard St	0.44mi	3/2.0 (+1)	1,904 (+9%)	6mo	$285,000	$150	50
507 Galia St	0.70mi	3/1.5 (+1)	1,561 (-11%)	4mo	$198,500	$127	39
1411 Jefferson St	0.67mi	3/2.0 (+1)	1,570 (-10%)	7mo	$299,500	$191	37

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: 34.0%
• Equity multiple: 2.44×
• Total profit: $26,142
• Equity at exit: $9,692

10-year hold

• IRR: 40.9%
• Equity multiple: 4.85×
• Total profit: $69,989
• Equity at exit: $5,620

Cash invested: $18,200 (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 76230

• Home prices YoY: -27.1%
• Active inventory: 238
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $1,259 medium
• Mortgage (P&I): −$341
• Tax from tax record: −$51 /mo · $607/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$264
• Net cashflow: $576

Break-even live

Break-even rent $530

Max offer price $65,000

Occupancy floor 49%

Sensitivity live

Price	-10% $613	-5% $594	+0% $576	+5% $557	+10% $539
Rent	-10% $476	-5% $526	+0% $576	+5% $626	+10% $675
Rate	-1.0pp $609	-0.5pp $592	base $576	+0.5pp $559	+1.0pp $542

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
418 Elba St Bowie, TX	3.0	2.0	1200	$1,400	$1.17	1d	1	0.07mi
106 E Nelson St Unit A Bowie, TX	1.0	1.0	1216	$875	$0.72	13d	1	0.19mi
903 N Lamb St Bowie, TX	3.0	1.0	1269	$1,450	$1.14	1d	1	0.39mi
911 U.S. 81 Unit D Bowie, TX	3.0	2.0	1200	$1,350	$1.12	1d	1	0.90mi

Listing history 16 events

1. 2026-06-18
   days on market $65,000 Active 16 DOM
2. 2026-06-17
   days on market $65,000 Active 15 DOM
3. 2026-06-16
   days on market $65,000 Active 14 DOM
4. 2026-06-15
   days on market $65,000 Active 13 DOM
5. 2026-06-13
   days on market $65,000 Active 11 DOM
6. 2026-06-12
   days on market $65,000 Active 10 DOM
7. 2026-06-09
   days on market $65,000 Active 7 DOM
8. 2026-06-08
   days on market $65,000 Active 6 DOM
9. 2026-06-08
   days on market $65,000 Active 5 DOM
10. 2026-06-07
    days on market $65,000 Active 4 DOM
11. 2026-06-02
    remarks 682-char remark
12. 2026-06-02
    pricestatusdays on marketlisting id $65,000 Active 1 DOM
13. 2026-05-26
    listed $75,000
14. 2008-12-01
    soldstatus
15. 2003-05-21
    soldstatus
16. 1999-09-21
    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: $607 · $51/mo
• Projected year-2 tax: $1,190 · $99/mo
• Expected delta: +$582/yr (+$49/mo · 95.9%)

ⓘ 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 6/10 Major 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 10% 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: $15,105
• − Mortgage interest: −$3,641
• − Property taxes: −$607
• − Insurance: −$325
• − Repairs & maintenance: −$1,208
• − Management: −$1,208
• − Depreciation: −$1,891
• Taxable income: $6,224
• Est. tax owed @ 24.0%: −$1,494
• After-tax cash flow: $5,416/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: Bowie ISD
• NCES district ID: 4810990
• Math proficiency: 34% ▼ -8.00%
• Reading proficiency: 41% ▼ -2.00%
• Median HH income: $45,720
• Composite: 31.99/100
• National rank: #5836
• State rank: #469 of 826 in TX

Livability — Bowie

• Score: 64/100
• State rank: #796
• US rank: #14499

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bowie, TX
• Population (ZIP): 9,885

Population outlook (Montague County) Hauer SSP2

• Today (2025): 18,216 people
• By 2030: 17,603 · -3.4%
• By 2040: 16,451 · -9.7%
• By 2050: 15,424 · -15.3%
• By 2075: 13,365 · -26.6%
• By 2100: 10,998 · -39.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Hispanic / Latino 12% Two or more races 7%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Serbian 2% Romanian 2% Slovak 1%
• Foreign-born: 4% · Canada
• Languages at home: 89% English-only · Spanish 10% Other Indo-European 1%

Political lean MEDSL · Montague

• 2024 margin: Solid R (+77.7) · D 10.9% · R 88.5%
• 2008→2024 swing: -19.2pp toward R · 2008: -58.5pp · 2024: -77.7pp
• All cycles: 2024: R+77.7 2020: R+76.6 2016: R+77.2 2012: R+70.1 2008: R+58.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -75.69%
• Current HPI: 204.0919
• 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

4 events — show timeline

• 2026-05-26 Listed $75,000 FSBO.com
• 2008-12-01 Sold (Public Records) — Public Records
• 2003-05-21 Sold (Public Records) — Public Records
• 1999-09-21 Sold (Public Records) — Public Records

Property tax history

+2.8%/yr

Latest (2025): $607 · +0.0% YoY. Source: county tax records.