492 Lcr 431 · Mexia, TX 76667

$179,900

4 bd · 1.0 ba · 1,456 sqft · SingleFamily public records · 240 Days on market

Built 1930 1.67 ac lot $124/sqft · 34% below area Est $318k · 44% under

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Why this score? — see what drove the D 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).

• ARV discount +15.0/15.0
• Cash flow +10.6/30.0
• Livability +3.4/5.0
• DSCR +3.0/10.0
• 1% rule +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Escape to the Country - Farmhouse on a Quiet Country Road. Enjoy the evening breeze on your covered front porch shaded by large producing pecan trees. Step inside to a large living and dining area with plenty of room to enjoy family time. Retire for the night in 4 bedrooms with closets. The 4th bedroom or flex room is a converted back porch with exterior door to a covered carport or patio area. This room also has an ensuite full bathroom and the utility area for washer and dryer. The front bedroom has 2 closets. There is a kitchen in the center of the house with a double oven, microwave with vent, dishwasher, large farmhouse sink, refrigerator, original wood cabinets, and renovated granite countertops and tile backsplash. Outside there is plenty of privacy with 1.6 acres, a small pond in the back corner of the property, 2 chicken coups, fenced garden area, 2 car garage, and storage building. There is even a pad and electric hookup in place for an RV or tiny home. With a separate electric meter and sewage hookup this space could be rented for extra income. The septic system, plumbing, electrical and the HVAC are new.

Key facts

• Covered front porch
• Converted back porch
• Double oven

Tags

• COVERED FRONT PORCH
• PRODUCING PECAN TREES
• LARGE LIVING AND DINING AREA
• CONVERTED BACK PORCH
• ENSUITE FULL BATHROOM
• DOUBLE OVEN

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $-90 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $164k (8.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $141k (21.8% below list).
• Recommended offer: $141k (21.8% below list) — sets the bar for 1% rule.
• Cap rate 5.7% vs local median 3.6% in Mexia — 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 68/100 on livability (#458 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B+; Watch: crime C-, schools F, amenities F.
• Mexia ISD (town): math 22% / reading 32% proficiency, ranked #696 of 826 in TX (top 84%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 69% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 129 active listings in the ZIP; 17 units permitted in Limestone County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Limestone County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 240 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $20k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 70% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 6→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $140,731 (21.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 240 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
3. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.78% ✗
• Cap rate: 5.69%
• Cash-on-cash: -2.15%
• DSCR: 0.90
• GRM: 10.7

CMA / ARV

• ARV (median comp): $318,492
• List price: $179,900
• Delta: -43.52%
• Verdict: UNDERPRICED
• Comps: 3 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -19.9%
• Equity multiple: 0.31×
• Total profit: $-34,906
• Equity at exit: $26,824

10-year hold

• IRR: -12.8%
• Equity multiple: 0.25×
• Total profit: $-37,817
• Equity at exit: $15,554

Cash invested: $50,372 (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 76667

• Home prices YoY: -8.9%
• Active inventory: 129
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $1,407 medium
• Mortgage (P&I): −$943
• Tax from tax record: −$184 /mo · $2,204/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$296
• Net cashflow: $-90

Break-even live

Break-even rent $1,522

Max offer price $163,950

Occupancy floor —

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-18
   days on market $179,900 Active 240 DOM
2. 2026-06-17
   days on market $179,900 Active 239 DOM
3. 2026-06-16
   days on market $179,900 Active 238 DOM
4. 2026-06-15
   days on market $179,900 Active 237 DOM
5. 2026-06-15
   days on market $179,900 Active 236 DOM
6. 2026-06-13
   days on market $179,900 Active 235 DOM
7. 2026-06-12
   days on market $179,900 Active 234 DOM
8. 2026-06-10
   days on market $179,900 Active 231 DOM
9. 2026-06-08
   days on market $179,900 Active 230 DOM
10. 2026-06-08
    days on market $179,900 Active 229 DOM
11. 2026-06-07
    days on market $179,900 Active 228 DOM
12. 2026-06-03
    days on market $179,900 Active 225 DOM
13. 2026-06-02
    days on market $179,900 Active 224 DOM
14. 2026-06-01
    days on market $179,900 Active 223 DOM
15. 2026-05-31
    days on market $179,900 Active 222 DOM
16. 2026-04-28
    price $179,900 1133-char remark

    Show marketing remark (1133 chars)

    Escape to the Country - Farmhouse on a Quiet Country Road. Enjoy the evening breeze on your covered front porch shaded by large producing pecan trees. Step inside to a large living and dining area with plenty of room to enjoy family time. Retire for the night in 4 bedrooms with closets. The 4th bedroom or flex room is a converted back porch with exterior door to a covered carport or patio area. This room also has an ensuite full bathroom and the utility area for washer and dryer. The front bedroom has 2 closets. There is a kitchen in the center of the house with a double oven, microwave with vent, dishwasher, large farmhouse sink, refrigerator, original wood cabinets, and renovated granite countertops and tile backsplash. Outside there is plenty of privacy with 1.6 acres, a small pond in the back corner of the property, 2 chicken coups, fenced garden area, 2 car garage, and storage building. There is even a pad and electric hookup in place for an RV or tiny home. With a separate electric meter and sewage hookup this space could be rented for extra income. The septic system, plumbing, electrical and the HVAC are new.

17. 2026-03-08
    price $189,900 1133-char remark

    Show marketing remark (1133 chars)

    Escape to the Country - Farmhouse on a Quiet Country Road. Enjoy the evening breeze on your covered front porch shaded by large producing pecan trees. Step inside to a large living and dining area with plenty of room to enjoy family time. Retire for the night in 4 bedrooms with closets. The 4th bedroom or flex room is a converted back porch with exterior door to a covered carport or patio area. This room also has an ensuite full bathroom and the utility area for washer and dryer. The front bedroom has 2 closets. There is a kitchen in the center of the house with a double oven, microwave with vent, dishwasher, large farmhouse sink, refrigerator, original wood cabinets, and renovated granite countertops and tile backsplash. Outside there is plenty of privacy with 1.6 acres, a small pond in the back corner of the property, 2 chicken coups, fenced garden area, 2 car garage, and storage building. There is even a pad and electric hookup in place for an RV or tiny home. With a separate electric meter and sewage hookup this space could be rented for extra income. The septic system, plumbing, electrical and the HVAC are new.

18. 2025-12-10
    price $194,900 1133-char remark

    Show marketing remark (1133 chars)

    Escape to the Country - Farmhouse on a Quiet Country Road. Enjoy the evening breeze on your covered front porch shaded by large producing pecan trees. Step inside to a large living and dining area with plenty of room to enjoy family time. Retire for the night in 4 bedrooms with closets. The 4th bedroom or flex room is a converted back porch with exterior door to a covered carport or patio area. This room also has an ensuite full bathroom and the utility area for washer and dryer. The front bedroom has 2 closets. There is a kitchen in the center of the house with a double oven, microwave with vent, dishwasher, large farmhouse sink, refrigerator, original wood cabinets, and renovated granite countertops and tile backsplash. Outside there is plenty of privacy with 1.6 acres, a small pond in the back corner of the property, 2 chicken coups, fenced garden area, 2 car garage, and storage building. There is even a pad and electric hookup in place for an RV or tiny home. With a separate electric meter and sewage hookup this space could be rented for extra income. The septic system, plumbing, electrical and the HVAC are new.

19. 2025-10-21
    listed $199,900 Active 1133-char remark

    Show marketing remark (1133 chars)

    Escape to the Country - Farmhouse on a Quiet Country Road. Enjoy the evening breeze on your covered front porch shaded by large producing pecan trees. Step inside to a large living and dining area with plenty of room to enjoy family time. Retire for the night in 4 bedrooms with closets. The 4th bedroom or flex room is a converted back porch with exterior door to a covered carport or patio area. This room also has an ensuite full bathroom and the utility area for washer and dryer. The front bedroom has 2 closets. There is a kitchen in the center of the house with a double oven, microwave with vent, dishwasher, large farmhouse sink, refrigerator, original wood cabinets, and renovated granite countertops and tile backsplash. Outside there is plenty of privacy with 1.6 acres, a small pond in the back corner of the property, 2 chicken coups, fenced garden area, 2 car garage, and storage building. There is even a pad and electric hookup in place for an RV or tiny home. With a separate electric meter and sewage hookup this space could be rented for extra income. The septic system, plumbing, electrical and the HVAC are new.

20. 2022-08-11
    soldstatus
21. 2022-08-09
    soldstatus 275-char remark

    Show marketing remark (275 chars)

    HANDYMAN SPECIAL! Looking for quiet country living? Check out this charming home on 1.67 acres. The property needs a little TLC but will make a great investment opportunity or primary residence. Buyer to confirm any and all restrictions, measurements and utility information.

22. 2022-04-29
    listed $110,000 275-char remark

    Show marketing remark (275 chars)

    HANDYMAN SPECIAL! Looking for quiet country living? Check out this charming home on 1.67 acres. The property needs a little TLC but will make a great investment opportunity or primary residence. Buyer to confirm any and all restrictions, measurements and utility information.

23. 1983-08-19
    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: $2,204 · $184/mo
• Projected year-2 tax: $3,292 · $274/mo
• Expected delta: +$1,088/yr (+$91/mo · 49.4%)

ⓘ 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 5/10 Major
• 🌡 Heat 7/10 Severe 6 d/yr ≥109°F today · 22 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 70% 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: $16,888
• − Mortgage interest: −$10,077
• − Property taxes: −$2,204
• − Insurance: −$900
• − Repairs & maintenance: −$1,351
• − Management: −$1,351
• − Depreciation: −$5,233
• Taxable loss: −$4,229
• Est. tax savings @ 24.0%: +$1,015
• After-tax cash flow: $-69/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: Mexia ISD
• NCES district ID: 4830420
• Math proficiency: 22% ▼ -10.00%
• Reading proficiency: 32% ▬ 0.00%
• Median HH income: $37,464
• Composite: 22.48/100
• National rank: #8101
• State rank: #696 of 826 in TX

Livability — Mexia

• Score: 68/100
• State rank: #458
• US rank: #9265

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 10,494

Population outlook (Limestone County) Hauer SSP2

• Today (2025): 23,396 people
• By 2030: 23,214 · -0.8%
• By 2040: 22,829 · -2.4%
• By 2050: 22,516 · -3.8%
• By 2075: 22,088 · -5.6%
• By 2100: 20,354 · -13.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.67)
• Race & ethnicity: White 45% Hispanic / Latino 29% Two or more races 24% Black 21%
• Hispanic origin (detail): Mexican 26%
• Common ancestry: Serbian 3% Slovak 2% Italian 2%
• Foreign-born: 11% · Canada
• Languages at home: 77% English-only · Spanish 23%

Political lean MEDSL · Limestone

• 2024 margin: Solid R (+56.9) · D 21.2% · R 78.1%
• 2008→2024 swing: -23.4pp toward R · 2008: -33.5pp · 2024: -56.9pp
• All cycles: 2024: R+56.9 2020: R+50.3 2016: R+52.3 2012: R+40.7 2008: R+33.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -15.91%
• Current HPI: 161.8191
• 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

+63.5% since first listed

8 events — show timeline

• 2026-04-28 Price Changed $179,900 NTREIS
• 2026-03-08 Price Changed $189,900 NTREIS
• 2025-12-10 Price Changed $194,900 NTREIS
• 2025-10-21 Listed $199,900 NTREIS
• 2022-08-11 Sold (Public Records) — Public Records
• 2022-08-09 Sold (MLS) — NTREIS
• 2022-04-29 Listed $110,000 NTREIS
• 1983-08-19 Sold (Public Records) — Public Records

Property tax history

+6.7%/yr

Latest (2025): $2,204 · +20.1% YoY. Source: county tax records.