1007 2nd Ave SE · Mineral Wells, TX 76067

$39,999

1 bd · None ba · 1,416 sqft · SingleFamily public records · 16 Days on market

Built 1960 0.28 ac lot $28/sqft · 75% below area ↓ 18% since listing

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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

Here’s an opportunity for investors or buyers seeking a property with redevelopment potential. The property is situated on a spacious lot within an established neighborhood. The existing residential structure is in poor condition, dilapidated, and not accessible. No interior access is available, and the home should not be entered. The property is being sold as-is, and the value is primarily attributed to the land. Buyers are encouraged to conduct all due diligence prior to submitting an offer. Conveniently located near local services, downtown Mineral Wells, and major roadways.

Key facts

• Major roadways
• Spacious lot
• 0.28 acre lot

Tags

• SPACIOUS LOT
• ESTABLISHED NEIGHBORHOOD
• DOWNTOWN MINERAL WELLS
• MAJOR ROADWAYS

Property features AI

Finance

• Other: Property is not attached; Accessibility features not present
• Financial info: Second mortgage not present; Loan type treated as clear
• HOA & community: No association

Exterior

• Parking: Other parking
• Utilities: City sewer; City water; Electricity available; Not in a municipal utility district
• Home design: Single family residence; Residential property; Built in 1960
• Construction: Year built 1960
• Exterior features: Lot under 0.5 acre (approximately 0.275 acres); Subdivision: Kidwell

Interior

• Kitchen: No appliances
• Bedrooms: 1 bedroom on level 1
• Interior features: One level; Other interior features

What this means for you Summary

Snapshot

• This is a 1-bed/?-bath single-family listed at $40k.

Deal economics

• At list price, monthly cash flow is $140 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• Recommended offer: $39k (1.5% below list) — sets the bar for market timing.
• Cap rate 23.3% vs local median 2.8% 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: 279 active listings in the ZIP; 2 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 $276 of loan paydown is wiped out by about $1k 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 $11k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($39k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price; flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); major 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 $39,399 (1.5% below list)

Questions for the listing agent

1. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 2.86% ✓
• Cap rate: 23.30%
• Cash-on-cash: 60.74%
• DSCR: 3.70
• GRM: 2.9

CMA / ARV

• ARV (median comp): $163,176
• List price: $39,999
• Delta: -69.97%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3929 Fm 3028	0.06mi	1/1.0	1,404 (-1%)	24mo	$274,800	$196	76
304 SE 19th St	0.51mi	2/2.0 (+1)	1,252 (-12%)	10mo	$187,000	$149	44
517 NE 1st St	0.61mi	2/1.0 (+1)	1,212 (-14%)	2mo	$149,000	$123	41

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: 6.3%
• Equity multiple: 1.25×
• Total profit: $2,775
• Equity at exit: $5,964

10-year hold

• IRR: 16.2%
• Equity multiple: 2.36×
• Total profit: $15,214
• Equity at exit: $3,458

Cash invested: $11,200 (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 76067

• Active inventory: 279
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $1,145 medium
• Mortgage (P&I): −$210
• Tax from tax record: −$111 /mo · $1,333/yr
• Insurance: −$17
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$240
• Net cashflow: $140

Break-even live

Break-even rent $967

Max offer price $39,999

Occupancy floor 83%

Sensitivity live

Price	-10% $163	-5% $152	+0% $140	+5% $129	+10% $118
Rent	-10% $50	-5% $95	+0% $140	+5% $186	+10% $231
Rate	-1.0pp $160	-0.5pp $151	base $140	+0.5pp $130	+1.0pp $119

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: $10,000
• Closing costs: $1,200
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
513 SE 6th St Unit 6 Mineral Wells, TX	2.0	1.0	1200	$1,350	$1.12	45d	1	0.30mi
707 NW 4th Ave Unit 202 Mineral Wells, TX	1.0	1.5	878	$1,150	$1.31	45d	1	0.96mi

Listing history 15 events

1. 2026-06-21
   days on market $39,999 Active 16 DOM
2. 2026-06-19
   days on market $39,999 Active 14 DOM
3. 2026-06-18
   days on market $39,999 Active 13 DOM
4. 2026-06-17
   days on market $39,999 Active 12 DOM
5. 2026-06-16
   days on market $39,999 Active 11 DOM
6. 2026-06-15
   days on market $39,999 Active 10 DOM
7. 2026-06-14
   days on market $39,999 Active 8 DOM
8. 2026-06-12
   days on market $39,999 Active 7 DOM
9. 2026-06-09
   days on market $39,999 Active 4 DOM
10. 2026-06-08
    days on market $39,999 Active 3 DOM
11. 2026-06-07
    days on market $39,999 Active 2 DOM
12. 2026-06-07
    pricedays on marketlisting id $39,999 Active 1 DOM
13. 2026-05-31
    days on market $49,000 Active 163 DOM
14. 2026-05-31
    days on market $49,000 Active 162 DOM
15. 2025-12-17
    listed $49,000 Active 593-char remark

ⓘ 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: $1,333 · $111/mo
• Projected year-2 tax: $1,333 · $111/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 5/10 Major FEMA zone AE · 49% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 23 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 17% 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: $13,738
• − Mortgage interest: −$2,241
• − Property taxes: −$1,333
• − Insurance: −$5,318
• − Repairs & maintenance: −$1,099
• − Management: −$1,099
• − Depreciation: −$1,164
• Taxable income: $1,484
• Est. tax owed @ 24.0%: −$356
• After-tax cash flow: $1,328/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

-18.4% since first listed

3 events — show timeline

• 2026-06-05 Listed $39,999 NTREIS
• 2026-05-31 Listing Removed — NTREIS
• 2025-12-17 Listed $49,000 NTREIS

Property tax history

+6.3%/yr

Latest (2025): $1,333 · +6.9% YoY. Source: county tax records.