508 E Neches St · Palestine, TX 75801

$149,900

3 bd · 2.0 ba · 1,611 sqft · SingleFamily public records · 149 Days on market

7,000 sqft lot $93/sqft · 7% below area Est $161k · 7% under ↓ 9% since listing

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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 +17.6/30.0
• ARV discount +10.6/15.0
• DSCR +5.5/10.0
• 1% rule +5.1/10.0
• Livability +3.3/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming cottage style home with wood floors arched doorway & pretty stained glass touches. LR has gas log FP with mantle & lovely accent windows on each side. French doors swing into spacious DR Kit. has been updated beautifully w/ lots of custom cabinets nice appliances undermount lighting & perfect tiled eating bar. There is also stackable Samsumg W/ D in utility room. Bathrooms are nice & one has decorative vessel sink. So many pretty amenities . Small deck off of back porch. Fenced yard.

Key facts

• Accent windows
• Wood floors
• French doors

Tags

• WOOD FLOORS
• ARCHED DOORWAY
• STAINED GLASS TOUCHES
• GAS LOG FP
• ACCENT WINDOWS
• FRENCH DOORS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $118 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $132k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.2% vs local median 3.9% in Palestine — 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 66/100 on livability (#657 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D+, schools D, employment D.
• Palestine ISD (town): math 36% / reading 37% proficiency, ranked #509 of 826 in TX (top 62%) — 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: 196 active listings in the ZIP; 29 units permitted in Anderson County in 2024 (0 in 5+ unit buildings).
• This rent runs 32% of the median local income ($57k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Anderson County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 149 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 78% chance of damaging wind over 30y; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $131,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 149 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.01% ✓
• Cap rate: 7.24%
• Cash-on-cash: 3.38%
• DSCR: 1.15
• GRM: 8.3

CMA / ARV

• ARV (median comp): $161,042
• List price: $149,900
• Delta: -6.92%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
714 E Neches	0.15mi	4/2.0 (+1)	1,680 (+4%)	2mo	$249,000	$148	79
607 E Park Ave	0.13mi	3/1.0	1,446 (-10%)	15mo	$199,000	$138	61
1010 E Brazos St	0.45mi	4/1.5 (+1)	1,552 (-4%)	21mo	$129,900	$84	48
308 W Reagan St	0.62mi	2/1.0 (-1)	1,767 (+10%)	12mo	$55,000	$31	36

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: -10.9%
• Equity multiple: 0.60×
• Total profit: $-16,705
• Equity at exit: $22,351

10-year hold

• IRR: -1.6%
• Equity multiple: 0.89×
• Total profit: $-4,645
• Equity at exit: $12,961

Cash invested: $41,972 (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 75801

• Home prices YoY: -35.0%
• Active inventory: 196
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,514 medium
• Mortgage (P&I): −$786
• Tax from tax record: −$229 /mo · $2,747/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$318
• Net cashflow: $118

Break-even live

Break-even rent $1,364

Max offer price $149,900

Occupancy floor 87%

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-19
   days on market $149,900 Active 149 DOM
2. 2026-06-18
   days on market $149,900 Active 148 DOM
3. 2026-06-17
   days on market $149,900 Active 147 DOM
4. 2026-06-16
   days on market $149,900 Active 146 DOM
5. 2026-06-15
   days on market $149,900 Active 145 DOM
6. 2026-06-14
   days on market $149,900 Active 143 DOM
7. 2026-06-12
   days on market $149,900 Active 142 DOM
8. 2026-06-09
   days on market $149,900 Active 139 DOM
9. 2026-06-08
   days on market $149,900 Active 138 DOM
10. 2026-06-07
    days on market $149,900 Active 137 DOM
11. 2026-06-04
    days on market $149,900 Active 133 DOM
12. 2026-06-02
    days on market $149,900 Active 132 DOM
13. 2026-06-01
    days on market $149,900 Active 131 DOM
14. 2026-05-31
    days on market $149,900 Active 130 DOM
15. 2026-05-31
    days on market $149,900 Active 129 DOM
16. 2026-02-27
    price $149,900 521-char remark

    Show marketing remark (521 chars)

    Charming cottage style home with wood floors arched doorway & pretty stained glass touches. LR has gas log FP with mantle & lovely accent windows on each side. French doors swing into spacious DR Kit. has been updated beautifully w/ lots of custom cabinets nice appliances undermount lighting & perfect tiled eating bar. There is also stackable Samsumg W/ D in utility room. Bathrooms are nice & one has decorative vessel sink. So many pretty amenities . Small deck off of back porch. Fenced yard.

17. 2026-01-21
    listed $165,000 Active 521-char remark

    Show marketing remark (521 chars)

    Charming cottage style home with wood floors arched doorway & pretty stained glass touches. LR has gas log FP with mantle & lovely accent windows on each side. French doors swing into spacious DR Kit. has been updated beautifully w/ lots of custom cabinets nice appliances undermount lighting & perfect tiled eating bar. There is also stackable Samsumg W/ D in utility room. Bathrooms are nice & one has decorative vessel sink. So many pretty amenities . Small deck off of back porch. Fenced yard.

18. 2006-12-04
    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: $2,747 · $229/mo
• Projected year-2 tax: $2,747 · $229/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 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥111°F today · 26 d/yr by 30 yrs out
• 💨 Wind 7/10 Severe 78% 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: $18,164
• − Mortgage interest: −$8,397
• − Property taxes: −$2,747
• − Insurance: −$750
• − Repairs & maintenance: −$1,453
• − Management: −$1,453
• − Depreciation: −$4,361
• Taxable loss: −$996
• Est. tax savings @ 24.0%: +$239
• After-tax cash flow: $1,659/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: Palestine ISD
• NCES district ID: 4834050
• Math proficiency: 36% ▼ -12.00%
• Reading proficiency: 37% ▼ -1.00%
• Median HH income: $36,881
• Composite: 30.34/100
• National rank: #6267
• State rank: #509 of 826 in TX

Livability — Palestine

• Score: 66/100
• State rank: #657
• US rank: #12357

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Palestine, TX
• County: Anderson County · 17,531 people
• City population: 17,531
• Metro: Palestine, TX
• Population (ZIP): 17,531
• Household income: $56,787
• Rent vs Own: 38.0% rent · 62.0% own
• Severe rent burden: 609.0

Population outlook (Anderson County) Hauer SSP2

• Today (2025): 56,663 people
• By 2030: 57,373 · +1.3%
• By 2040: 58,960 · +4.1%
• By 2050: 59,073 · +4.3%
• By 2075: 53,737 · -5.2%
• By 2100: 42,516 · -25.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.67)
• Race & ethnicity: White 48% Black 27% Hispanic / Latino 17% Two or more races 15% Native American 3%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Lithuanian 2% Iranian 1% Slovak 1%
• Foreign-born: 8% · Canada
• Languages at home: 85% English-only · Spanish 12%

Political lean MEDSL · Anderson

• 2024 margin: Solid R (+61.8) · D 18.8% · R 80.6%
• 2008→2024 swing: -18.3pp toward R · 2008: -43.5pp · 2024: -61.8pp
• All cycles: 2024: R+61.8 2020: R+58.0 2016: R+58.1 2012: R+52.2 2008: R+43.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -83.17%
• Current HPI: 154.6138
• Rent YoY: —
• Metro: Palestine, 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

-9.2% since first listed

3 events — show timeline

• 2026-02-27 Price Changed $149,900 PAOR
• 2026-01-21 Listed $165,000 PAOR
• 2006-12-04 Sold (Public Records) — Public Records

Property tax history

+0.4%/yr

Latest (2025): $2,747 · +3.8% YoY. Source: county tax records.