1107 SE 24th St · Mineral Wells, TX 76067

$60,000

2 bd · 1.0 ba · 600 sqft · SingleFamily public records · 32 Days on market

Built 1940 6,708 sqft 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
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investor opportunity in Mineral Wells! Located at 1107 SE 24th St, this property offers a renovation project with plenty of potential. The floor plan includes a living room, dining area, kitchen, two bedrooms (if wall is put back up), and one bath. Exterior features include a fenced front yard, covered porch/carport area, and backyard space. The home is in need of major repairs and remodeling, making it ideal for investors, contractors, or buyers looking for a full rehab project. Bring your tools and vision to restore this property or rework the layout to fit your needs. Property is being sold as-is. Buyer and buyer’s agent to verify all information, measurements, utilities, condition

Key facts

• Covered porch
• Fenced front yard
• Backyard space

Tags

• FENCED FRONT YARD
• COVERED PORCH
• BACKYARD SPACE

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public sewer
• Home design: Single-family residential property
• Construction: Residential construction
• Exterior features: Chain link and wood fencing; Composition roof

Interior

• Bathrooms: 1 full bathroom
• Interior features: Total of 4 rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $345 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $58k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.2% vs local median 2.7% in Mineral Wells — 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 72/100 on livability (#278 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D+, employment D, schools F.
• Mineral Wells ISD (town): math 30% / reading 30% proficiency, ranked #636 of 826 in TX (top 77%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 277 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 27 units permitted in Palo Pinto County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $415 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Palo Pinto County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 32 days — a 3% lower offer ($58k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $10k; list at $60k implies a 500% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; severe wildfire risk; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $58,200 (3.0% below list)

Questions for the listing agent

1. It's been on market 32 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-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: 1.69% ✓
• Cap rate: 13.18%
• Cash-on-cash: 24.61%
• DSCR: 2.10
• GRM: 4.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 18.0%
• Equity multiple: 1.73×
• Total profit: $12,266
• Equity at exit: $8,946

10-year hold

• IRR: 26.5%
• Equity multiple: 3.33×
• Total profit: $39,111
• Equity at exit: $5,188

Cash invested: $16,800 (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 76067

• Active inventory: 277
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,016 medium
• Mortgage (P&I): −$315
• Tax from tax record: −$118 /mo · $1,420/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$213
• Net cashflow: $345

Break-even live

Break-even rent $580

Max offer price $60,000

Occupancy floor 61%

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1101 SE 15th St Unit 1101 Mineral Wells, TX	1.0	1.0	595	$895	$1.50	2d	1	0.50mi

Listing history 21 events

1. 2026-06-19
   days on market $60,000 Active 32 DOM
2. 2026-06-18
   days on market $60,000 Active 31 DOM
3. 2026-06-17
   days on market $60,000 Active 30 DOM
4. 2026-06-16
   days on market $60,000 Active 29 DOM
5. 2026-06-15
   days on market $60,000 Active 28 DOM
6. 2026-06-14
   days on market $60,000 Active 26 DOM
7. 2026-06-12
   days on market $60,000 Active 25 DOM
8. 2026-06-09
   days on market $60,000 Active 22 DOM
9. 2026-06-08
   days on market $60,000 Active 21 DOM
10. 2026-06-07
    days on market $60,000 Active 20 DOM
11. 2026-06-07
    days on market $60,000 Active 19 DOM
12. 2026-06-04
    days on market $60,000 Active 16 DOM
13. 2026-06-02
    days on market $60,000 Active 15 DOM
14. 2026-06-01
    days on market $60,000 Active 14 DOM
15. 2026-05-31
    days on market $60,000 Active 13 DOM
16. 2026-05-31
    days on market $60,000 Active 12 DOM
17. 2026-05-18
    listed $60,000 Active
18. 2026-04-21
    soldstatus
19. 2015-11-12
    soldstatus $10,000
20. 2012-12-28
    soldstatus
21. 2007-10-09
    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: $1,420 · $118/mo
• Projected year-2 tax: $1,420 · $118/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 6/10 Major FEMA zone X (unshaded) · 70% chance over 30 yrs
• 🔥 Wildfire 8/10 Severe
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 23 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 19% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,191
• − Mortgage interest: −$3,361
• − Property taxes: −$1,420
• − Insurance: −$300
• − Repairs & maintenance: −$975
• − Management: −$975
• − Depreciation: −$1,745
• Taxable income: $3,414
• Est. tax owed @ 24.0%: −$819
• After-tax cash flow: $3,316/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: Mineral Wells ISD
• NCES district ID: 4830950
• Math proficiency: 30% ▼ -10.00%
• Reading proficiency: 30% ▼ -5.00%
• Median HH income: $40,027
• Composite: 25.26/100
• National rank: #7500
• State rank: #636 of 826 in TX

Livability — Mineral Wells

• Score: 72/100
• State rank: #278
• US rank: #6474

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mineral Wells, TX
• County: Palo Pinto County · 21,080 people
• City population: 21,080
• Metro: Mineral Wells, TX
• Population (ZIP): 21,080
• Household income: $62,190
• Rent vs Own: 35.5% rent · 64.5% own
• Severe rent burden: 745.0

Population outlook (Palo Pinto County) Hauer SSP2

• Today (2025): 27,500 people
• By 2030: 27,079 · -1.5%
• By 2040: 26,135 · -5.0%
• By 2050: 25,215 · -8.3%
• By 2075: 23,416 · -14.9%
• By 2100: 20,300 · -26.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Hispanic / Latino 22% Two or more races 9% Black 4% Asian 1%
• Hispanic origin (detail): Mexican 19%
• Common ancestry: Lithuanian 4% Italian 1% Slovak 1%
• Foreign-born: 6% · Canada
• Languages at home: 86% English-only · Spanish 13% Other Indo-European 1%

Political lean MEDSL · Palo Pinto

• 2024 margin: Solid R (+67.1) · D 16.1% · R 83.2%
• 2008→2024 swing: -18.9pp toward R · 2008: -48.2pp · 2024: -67.1pp
• All cycles: 2024: R+67.1 2020: R+64.1 2016: R+64.1 2012: R+59.8 2008: R+48.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -134.09%
• Current HPI: 240.3647
• Rent YoY: —
• Metro: Mineral Wells, 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

+500.0% since first listed

5 events — show timeline

• 2026-05-18 Listed $60,000 LAAR
• 2026-04-21 Sold (Public Records) — Public Records
• 2015-11-12 Sold (Public Records) $10,000 Public Records
• 2012-12-28 Sold (Public Records) — Public Records
• 2007-10-09 Sold (Public Records) — Public Records

Property tax history

+12.2%/yr

Latest (2025): $1,420 · -1.4% YoY. Source: county tax records.