6939 County Road 378 · Henderson, TX 75677

$130,000

2 bd · 1.0 ba · 1,260 sqft · SingleFamily public records · 128 Days on market

Built 1960 2.00 ac lot

---

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 +21.4/30.0
• ARV discount +7.5/15.0
• DSCR +6.8/10.0
• Appreciation +5.0/10.0
• 1% rule +4.9/10.0
• Livability +3.5/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Well-maintained 2 bedroom, 1 bathroom home situated on 1 acre in a quiet country setting. Property features a new 25x40 metal shop, offering ample space for storage, projects, or a workshop. Enjoy the benefits of country living with plenty of room to expand, garden, or bring your animals. A great opportunity for those seeking space and functionality outside city limits.

Key facts

• 2 acre lot
• Listed 127 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $194 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $129k (0.6% below list).
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.1% vs local median 2.9% in Henderson — 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 69/100 on livability (#408 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, schools D-, crime F.
• Henderson ISD (town): math 30% / reading 35% proficiency, ranked #573 of 826 in TX (top 69%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 1 active listings in the ZIP; 4 units permitted in Rusk County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($899 loan paydown + $4k appreciation (3.0% local appreciation)).
• Rusk County population projected to shrink 5% 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 $36k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 128 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 10y 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.

Recommended offer $114,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 128 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. Crime grade is F 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: 0.99% ✗
• Cap rate: 8.08%
• Cash-on-cash: 6.39%
• DSCR: 1.28
• GRM: 8.4

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: 13.5%
• Equity multiple: 1.77×
• Total profit: $27,978
• Equity at exit: $58,454

10-year hold

• IRR: 15.3%
• Equity multiple: 3.26×
• Total profit: $82,290
• Equity at exit: $90,084

Cash invested: $36,400 (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 75677

• Active inventory: 1
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,292 medium
• Mortgage (P&I): −$682
• Tax from tax record: −$91 /mo · $1,096/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$271
• Net cashflow: $194

Break-even live

Break-even rent $1,047

Max offer price $130,000

Occupancy floor 80%

Sensitivity live

Price	-10% $267	-5% $231	+0% $194	+5% $157	+10% $120
Rent	-10% $92	-5% $143	+0% $194	+5% $245	+10% $296
Rate	-1.0pp $259	-0.5pp $227	base $194	+0.5pp $160	+1.0pp $126

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Listing history 34 events

1. 2026-06-19
   days on market $130,000 Active 128 DOM
2. 2026-06-18
   days on market $130,000 Active 127 DOM
3. 2026-06-17
   days on market $130,000 Active 126 DOM
4. 2026-06-16
   days on market $130,000 Active 125 DOM
5. 2026-06-15
   days on market $130,000 Active 124 DOM
6. 2026-06-14
   days on market $130,000 Active 122 DOM
7. 2026-06-13
   days on market $130,000 Active 121 DOM
8. 2026-06-10
   days on market $130,000 Active 119 DOM
9. 2026-06-09
   days on market $130,000 Active 118 DOM
10. 2026-06-08
    days on market $130,000 Active 117 DOM
11. 2026-06-07
    days on market $130,000 Active 116 DOM
12. 2026-06-02
    days on market $130,000 Active 111 DOM
13. 2026-06-01
    days on market $130,000 Active 110 DOM
14. 2026-05-31
    days on market $130,000 Active 109 DOM
15. 2026-05-30
    days on market $130,000 Active 108 DOM
16. 2026-03-04
    price $130,000 372-char remark

    Show marketing remark (372 chars)

    Well-maintained 2 bedroom, 1 bathroom home situated on 1 acre in a quiet country setting. Property features a new 25x40 metal shop, offering ample space for storage, projects, or a workshop. Enjoy the benefits of country living with plenty of room to expand, garden, or bring your animals. A great opportunity for those seeking space and functionality outside city limits.

17. 2026-02-11
    listed $135,000 Active 372-char remark

    Show marketing remark (372 chars)

    Well-maintained 2 bedroom, 1 bathroom home situated on 1 acre in a quiet country setting. Property features a new 25x40 metal shop, offering ample space for storage, projects, or a workshop. Enjoy the benefits of country living with plenty of room to expand, garden, or bring your animals. A great opportunity for those seeking space and functionality outside city limits.

18. 2024-08-27
    soldstatus
19. 2023-12-19
    price $469,900
20. 2023-12-19
    price $469,900
21. 2023-11-03
    price $484,400
22. 2023-11-03
    price $484,400
23. 2023-09-18
    status Active
24. 2023-09-18
    price $489,400
25. 2023-08-30
    historical
26. 2023-08-15
    price $499,499
27. 2023-07-09
    listed $499,400 Active
28. 2023-07-08
    listed $499,500 Active
29. 2017-10-06
    soldstatus
30. 2017-10-05
    soldstatus
31. 2017-10-05
    soldstatus
32. 2017-08-01
    listed $35,900
33. 2016-12-12
    listed $35,900
34. 2011-12-20
    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: $1,096 · $91/mo
• Projected year-2 tax: $2,379 · $198/mo
• Expected delta: +$1,283/yr (+$107/mo · 117.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $15,509
• − Mortgage interest: −$7,282
• − Property taxes: −$1,096
• − Insurance: −$650
• − Repairs & maintenance: −$1,241
• − Management: −$1,241
• − Depreciation: −$3,782
• Taxable income: $218
• Est. tax owed @ 24.0%: −$52
• After-tax cash flow: $2,273/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: Henderson ISD
• NCES district ID: 4822970
• Math proficiency: 30% ▼ -23.00%
• Reading proficiency: 35% ▼ -13.00%
• Median HH income: $46,296
• Composite: 27.91/100
• National rank: #6868
• State rank: #573 of 826 in TX

Livability — Henderson

• Score: 69/100
• State rank: #408
• US rank: #8434

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

No demographic data for this ZIP.

Market trends

• HPI YoY: —
• Current HPI: —
• 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

+262.1% since first listed

19 events — show timeline

• 2026-03-04 Price Changed $130,000 LAAR
• 2026-02-11 Listed $135,000 LAAR
• 2024-08-27 Sold (Public Records) — Public Records
• 2023-12-19 Price Changed $469,900 LAAR
• 2023-12-19 Price Changed $469,900 GTAR
• 2023-11-03 Price Changed $484,400 LAAR
• 2023-11-03 Price Changed $484,400 GTAR
• 2023-09-18 Relisted — GTAR
• 2023-09-18 Price Changed $489,400 GTAR
• 2023-08-30 Delisted — GTAR
• 2023-08-15 Price Changed $499,499 LAAR
• 2023-07-09 Listed $499,400 GTAR
• 2023-07-08 Listed $499,500 LAAR
• 2017-10-06 Sold (Public Records) — Public Records
• 2017-10-05 Sold (MLS) — LAAR
• 2017-10-05 Sold (MLS) — GTAR
• 2017-08-01 Listed $35,900 GTAR
• 2016-12-12 Listed $35,900 LAAR
• 2011-12-20 Sold (Public Records) — Public Records

Property tax history

-3.4%/yr

Latest (2025): $1,096 · -25.1% YoY. Source: county tax records.