205 S Main St · Wheeler, TX 79096

$97,500

2 bd · 1.5 ba · 1,440 sqft · SingleFamily public records · 78 Days on market

Built 1940

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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 +21.3/30.0
• ARV discount +7.5/15.0
• DSCR +6.8/10.0
• 1% rule +6.0/10.0
• Appreciation +6.0/10.0
• Schools +4.5/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Move in ready home in Wheeler. Step inside this inviting 2-bedroom, 1.5-bath home featuring classic charm and cozy character that makes it perfect for everyday living and entertaining. Enjoy the fenced backyard, front porch, fruit trees, extra storage and the convenience of being at walking distance to the school and downtown Wheeler. Whether you're a first-time buyer, downsizing, or looking for an investment, this property offers comfort, value, and potential.

Key facts

• Garage
• Built 1940
• Listed 78 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $98k.

Deal economics

• At list price, monthly cash flow is $142 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $98k).
• Recommended offer: $92k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#789 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: employment D, schools D-, amenities F.
• Wheeler ISD (rural): math 55% / reading 51% proficiency, ranked #130 of 826 in TX (top 16%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 29 active listings in the ZIP.

Forward outlook

• In year one you build about $3k of equity ($674 loan paydown + $2k appreciation (2.0% local appreciation)).
• Wheeler County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (2.0% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 78 days — a 6% lower offer ($92k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y 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.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $91,650 (6.0% below list)

Questions for the listing agent

1. It's been on market 78 days. Have you received any prior offers? Is the seller open to a 6% 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. 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. 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: 1.10% ✓
• Cap rate: 8.04%
• Cash-on-cash: 6.25%
• DSCR: 1.28
• GRM: 7.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

1.98% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 10.7%
• Equity multiple: 1.57×
• Total profit: $15,684
• Equity at exit: $38,359

10-year hold

• IRR: 13.6%
• Equity multiple: 2.83×
• Total profit: $49,894
• Equity at exit: $55,163

Cash invested: $27,300 (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 79096

• Home prices YoY: 2.3%
• Active inventory: 29
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,074 medium
• Mortgage (P&I): −$511
• Tax from tax record: −$155 /mo · $1,857/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$226
• Net cashflow: $142

Break-even live

Break-even rent $895

Max offer price $97,500

Occupancy floor 82%

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: $24,375
• Closing costs: $2,925
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-18
   days on market $97,500 Active 78 DOM
2. 2026-06-17
   days on market $97,500 Active 77 DOM
3. 2026-06-16
   days on market $97,500 Active 76 DOM
4. 2026-06-15
   days on market $97,500 Active 75 DOM
5. 2026-06-15
   days on market $97,500 Active 74 DOM
6. 2026-06-13
   days on market $97,500 Active 73 DOM
7. 2026-06-12
   days on market $97,500 Active 72 DOM
8. 2026-06-09
   days on market $97,500 Active 69 DOM
9. 2026-06-08
   days on market $97,500 Active 68 DOM
10. 2026-06-08
    days on market $97,500 Active 67 DOM
11. 2026-06-07
    days on market $97,500 Active 66 DOM
12. 2026-06-03
    days on market $97,500 Active 63 DOM
13. 2026-06-02
    days on market $97,500 Active 62 DOM
14. 2026-06-01
    days on market $97,500 Active 61 DOM
15. 2026-05-31
    days on market $97,500 Active 60 DOM
16. 2026-05-15
    price $97,500 465-char remark

    Show marketing remark (465 chars)

    Move in ready home in Wheeler. Step inside this inviting 2-bedroom, 1.5-bath home featuring classic charm and cozy character that makes it perfect for everyday living and entertaining. Enjoy the fenced backyard, front porch, fruit trees, extra storage and the convenience of being at walking distance to the school and downtown Wheeler. Whether you're a first-time buyer, downsizing, or looking for an investment, this property offers comfort, value, and potential.

17. 2026-04-01
    listed $98,000 Active 465-char remark

    Show marketing remark (465 chars)

    Move in ready home in Wheeler. Step inside this inviting 2-bedroom, 1.5-bath home featuring classic charm and cozy character that makes it perfect for everyday living and entertaining. Enjoy the fenced backyard, front porch, fruit trees, extra storage and the convenience of being at walking distance to the school and downtown Wheeler. Whether you're a first-time buyer, downsizing, or looking for an investment, this property offers comfort, value, and potential.

18. 2025-10-29
    price $98,000
19. 2022-10-14
    soldstatus Closed
20. 2022-10-14
    soldstatus Closed
21. 2022-09-06
    listed $95,000 Active
22. 2022-09-06
    listed $95,000 Active
23. 2008-04-16
    soldstatus
24. 2006-09-07
    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: $1,857 · $155/mo
• Projected year-2 tax: $1,857 · $155/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 0% chance over 30 yrs
• 🔥 Wildfire 10/10 Extreme
• 🌡 Heat 5/10 Major 7 d/yr ≥102°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $12,894
• − Mortgage interest: −$5,462
• − Property taxes: −$1,857
• − Insurance: −$488
• − Repairs & maintenance: −$1,032
• − Management: −$1,032
• − Depreciation: −$2,836
• Taxable income: $188
• Est. tax owed @ 24.0%: −$45
• After-tax cash flow: $1,661/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: Wheeler ISD
• NCES district ID: 4845420
• Math proficiency: 55% ▲ 6.00%
• Reading proficiency: 51% ▲ 5.00%
• Median HH income: $51,840
• Composite: 45.48/100
• National rank: #2613
• State rank: #130 of 826 in TX

Livability — Wheeler

• Score: 64/100
• State rank: #789
• US rank: #14423

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wheeler, TX
• Population (ZIP): 2,022

Population outlook (Wheeler County) Hauer SSP2

• Today (2025): 6,212 people
• By 2030: 6,519 · +4.9%
• By 2040: 7,210 · +16.1%
• By 2050: 7,953 · +28.0%
• By 2075: 9,663 · +55.6%
• By 2100: 10,059 · +61.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Hispanic / Latino 23% Two or more races 3% Asian 1% Black 1%
• Hispanic origin (detail): Mexican 20% Cuban 1%
• Common ancestry: Iranian 7% Lithuanian 2% Scotch-Irish 2%
• Foreign-born: 7% · Canada
• Languages at home: 81% English-only · Spanish 19%

Political lean MEDSL · Wheeler

• 2024 margin: Solid R (+84.7) · D 7.4% · R 92.1%
• 2008→2024 swing: -13.2pp toward R · 2008: -71.4pp · 2024: -84.7pp
• All cycles: 2024: R+84.7 2020: R+85.2 2016: R+82.1 2012: R+77.3 2008: R+71.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.98%
• Current HPI: 86.647
• 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

+2.6% since first listed

9 events — show timeline

• 2026-05-15 Price Changed $97,500 AARMLS
• 2026-04-01 Listed $98,000 AARMLS
• 2025-10-29 Price Changed $98,000 AARMLS
• 2022-10-14 Sold (MLS) — AARMLS
• 2022-10-14 Sold (MLS) — PBOR
• 2022-09-06 Listed $95,000 AARMLS
• 2022-09-06 Listed $95,000 PBOR
• 2008-04-16 Sold (Public Records) — Public Records
• 2006-09-07 Sold (Public Records) — Public Records

Property tax history

+11.2%/yr

Latest (2025): $1,857 · +10.5% YoY. Source: county tax records.