1404 N Wheeler · Victoria, TX 77901

$155,000

2 bd · 2.0 ba · 2,086 sqft · SingleFamily public records · 229 Days on market

Built 1950 10,454 sqft lot $74/sqft · 27% below area Est $211k · 27% under

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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).

• ARV discount +15.0/15.0
• Cash flow +7.5/30.0
• Livability +3.6/5.0
• 1% rule +2.7/10.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• DSCR +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Prime Investment Opportunity! This spacious 3-bedroom, 2-bathroom home offers endless potential for residential or commercial use. Conveniently located near the downtown area, DeTar Hospital, and right next to Ramsey’s Restaurant, this property sits in a highly visible and desirable location. Currently leased, it provides immediate income potential for investors. With a little TLC, this property could be transformed into the perfect space to fit your vision. Don’t miss out on this versatile investment opportunity!

Key facts

• 0.24 acre lot
• Built 1950
• Listed 229 days

Tags

• PRIME INVESTMENT OPPORTUNITY
• HIGHLY VISIBLE LOCATION
• IMMEDIATE INCOME POTENTIAL

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $-196 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $120k (22.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $120k (22.9% below list).
• Recommended offer: $120k (22.9% below list) — sets the bar for 1% rule.
• Cap rate 4.8% vs local median 3.7% in Victoria — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 71/100 on livability (#309 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D+, amenities F, commute F.
• Victoria ISD (urban): math 24% / reading 33% proficiency, ranked #645 of 826 in TX (top 78%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Patti Welder Middle (math 8% / reading 23%, grade F, #1,556 of 1,662 statewide, top 94%, 638 students, 79% FRL); Victoria West H S (math 18% / reading 39%, grade F, #1,157 of 1,632 statewide, top 72%, 1,766 students, 59% FRL).
• Market conditions: Rents soft (-0.8%/yr); 199 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 43 units permitted in Victoria 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 $5k of value loss. Plan a longer hold.
• Victoria County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 229 days — a 12% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 17y 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.
• Current owner paid $122k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $119,548 (22.9% 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 229 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
3. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.77% ✗
• Cap rate: 4.78%
• Cash-on-cash: -5.41%
• DSCR: 0.76
• GRM: 10.8

CMA / ARV

• ARV (median comp): $211,000
• List price: $155,000
• Delta: -26.54%
• Verdict: UNDERPRICED
• Comps: 13 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1307 N Main St	0.23mi	3/2.0 (+1)	2,119 (+2%)	8mo	$216,000	$102	75
206 W Trinity St	0.40mi	3/2.0 (+1)	2,084 (-0%)	8mo	$220,000	$106	69

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -29.2%
• Equity multiple: 0.05×
• Total profit: $-41,031
• Equity at exit: $23,111

10-year hold

• IRR: -49.3%
• Equity multiple: -0.50×
• Total profit: $-65,082
• Equity at exit: $13,402

Cash invested: $43,400 (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 77901

• Rents YoY: -0.8%
• Active inventory: 199
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $1,195 medium
• Mortgage (P&I): −$813
• Tax from tax record: −$263 /mo · $3,154/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$251
• Net cashflow: $-196

Break-even live

Break-even rent $1,443

Max offer price $120,409

Occupancy floor —

Sensitivity live

Price	-10% $-108	-5% $-152	+0% $-196	+5% $-240	+10% $-284
Rent	-10% $-290	-5% $-243	+0% $-196	+5% $-149	+10% $-101
Rate	-1.0pp $-118	-0.5pp $-156	base $-196	+0.5pp $-236	+1.0pp $-277

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
408 E North St Unit Dwnstrs Victoria, TX	2.0	1.0	2092	$1,200	$0.57	45d	1	0.32mi

Listing history 25 events

1. 2026-06-21
   days on market $155,000 Active 229 DOM
2. 2026-06-19
   days on market $155,000 Active 227 DOM
3. 2026-06-18
   days on market $155,000 Active 226 DOM
4. 2026-06-17
   days on market $155,000 Active 225 DOM
5. 2026-06-16
   days on market $155,000 Active 224 DOM
6. 2026-06-15
   days on market $155,000 Active 223 DOM
7. 2026-06-14
   days on market $155,000 Active 221 DOM
8. 2026-06-13
   days on market $155,000 Active 220 DOM
9. 2026-06-10
   days on market $155,000 Active 218 DOM
10. 2026-06-09
    days on market $155,000 Active 217 DOM
11. 2026-06-08
    days on market $155,000 Active 216 DOM
12. 2026-06-07
    days on market $155,000 Active 215 DOM
13. 2026-06-03
    days on market $155,000 Active 211 DOM
14. 2026-06-02
    days on market $155,000 Active 210 DOM
15. 2026-06-01
    days on market $155,000 Active 209 DOM
16. 2026-05-31
    days on market $155,000 Active 208 DOM
17. 2026-05-30
    days on market $155,000 Active 207 DOM
18. 2025-11-03
    listed $155,000 Active 532-char remark

    Show marketing remark (532 chars)

    Prime Investment Opportunity! This spacious 3-bedroom, 2-bathroom home offers endless potential for residential or commercial use. Conveniently located near the downtown area, DeTar Hospital, and right next to Ramsey’s Restaurant, this property sits in a highly visible and desirable location. Currently leased, it provides immediate income potential for investors. With a little TLC, this property could be transformed into the perfect space to fit your vision. Don’t miss out on this versatile investment opportunity!

19. 2016-08-11
    soldstatus
20. 2015-03-16
    soldstatus $121,900 290-char remark

    Show marketing remark (290 chars)

    Seller will pay $5,000 towards buyers closing costs or deduct from sales price. Charming Old Victoria home on Oak and Pecan tree shaded lot. This 3 bedroom 2 bath home has 2 living and 2 dining areas, wood floors, indoor and outdoor utility and lots of closets. Lots of space for the price.

21. 2014-12-31
    listed $124,900 290-char remark

    Show marketing remark (290 chars)

    Seller will pay $5,000 towards buyers closing costs or deduct from sales price. Charming Old Victoria home on Oak and Pecan tree shaded lot. This 3 bedroom 2 bath home has 2 living and 2 dining areas, wood floors, indoor and outdoor utility and lots of closets. Lots of space for the price.

22. 2010-12-08
    soldstatus
23. 2010-12-07
    soldstatus $92,253
24. 2009-08-30
    listed $94,950
25. 2009-01-15
    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: $3,154 · $263/mo
• Projected year-2 tax: $3,154 · $263/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 · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥111°F today · 21 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: $14,346
• − Mortgage interest: −$8,682
• − Property taxes: −$3,154
• − Insurance: −$775
• − Repairs & maintenance: −$1,148
• − Management: −$1,148
• − Depreciation: −$4,509
• Taxable loss: −$5,070
• Est. tax savings @ 24.0%: +$1,217
• After-tax cash flow: $-1,133/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: Victoria ISD
• NCES district ID: 4844150
• Math proficiency: 24% ▼ -12.00%
• Reading proficiency: 33% ▼ -2.00%
• Median HH income: $50,534
• Composite: 24.98/100
• National rank: #7562
• State rank: #645 of 826 in TX

Livability — Victoria

• Score: 71/100
• State rank: #309
• US rank: #6960

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Victoria, TX
• County: Victoria County · 69,915 people
• City population: 69,915
• Metro: Victoria, TX
• Population (ZIP): 39,854
• Household income: $57,923
• Rent vs Own: 46.5% rent · 53.5% own
• Severe rent burden: 1802.0

Population outlook (Victoria County) Hauer SSP2

• Today (2025): 106,119 people
• By 2030: 113,161 · +6.6%
• By 2040: 127,402 · +20.1%
• By 2050: 141,953 · +33.8%
• By 2075: 179,410 · +69.1%
• By 2100: 200,127 · +88.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (66%)
• Race & ethnicity: Hispanic / Latino 66% Two or more races 30% White 24% Black 7% Asian 2%
• Hispanic origin (detail): Mexican 60%
• Common ancestry: Serbian 2% Lithuanian 1% Italian 1%
• Foreign-born: 10% · Canada, China
• Languages at home: 64% English-only · Spanish 35% Chinese 1%

Political lean MEDSL · Victoria

• 2024 margin: Solid R (+42.6) · D 28.4% · R 71.0%
• 2008→2024 swing: -9.0pp toward R · 2008: -33.6pp · 2024: -42.6pp
• All cycles: 2024: R+42.6 2020: R+38.0 2016: R+40.0 2012: R+37.8 2008: R+33.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -127.62%
• Current HPI: 138.3569
• Rent YoY: ▼ -0.79%
• Metro: Victoria, 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

+63.2% since first listed

8 events — show timeline

• 2025-11-03 Listed $155,000 CTXMLS
• 2016-08-11 Sold (Public Records) — Public Records
• 2015-03-16 Sold (MLS) $121,900 CTXMLS
• 2014-12-31 Listed $124,900 CTXMLS
• 2010-12-08 Sold (Public Records) — Public Records
• 2010-12-07 Sold (MLS) $92,253 CTXMLS
• 2009-08-30 Listed $94,950 CTXMLS
• 2009-01-15 Sold (Public Records) — Public Records

Property tax history

-2.4%/yr

Latest (2025): $3,154 · -19.5% YoY. Source: county tax records.