1121 Norris St · Commerce, TX 75428

$94,999

2 bd · 2.0 ba · 1,078 sqft · SingleFamily public records · 298 Days on market

Built 1976 0.32 ac lot $88/sqft · 39% below area Est $157k · 39% under

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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 +25.9/30.0
• ARV discount +15.0/15.0
• DSCR +8.7/10.0
• 1% rule +7.5/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

JUST LISTED THIS FIXER UPPER! We are selling this 2-bedroom home AS IS but it has a lot of potential! Despite needing some repairs and renovations this home offers both space and comfort. Situated on a large 13,987 sq. ft. lot that gives you plenty of room for outdoor activities and extra space to even make some great room additions! WE MAKE IT EASY TO OWN. This is a great opportunity! Don't wait, call us today to get more information on the owner's easy terms and smooth process that may be able to put the deed in your name and make this your dream home.

Key facts

• Room additions
• Large lot
• 0.32 acre lot

Tags

• LARGE LOT
• ROOM ADDITIONS

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $234 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Recommended offer: $84k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.2% vs local median 2.1% in Commerce — 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 64/100 on livability (#737 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A-; Watch: crime C-, amenities F, commute F.
• Commerce ISD (rural): math 23% / reading 33% proficiency, ranked #687 of 826 in TX (top 83%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Commerce El (400 students, 78% FRL); Commerce Middle (math 21% / reading 31%, grade F, #1,222 of 1,662 statewide, top 74%, 331 students, 78% FRL); Commerce H S (math 17% / reading 52%, grade F, #963 of 1,632 statewide, top 61%, 465 students, 68% FRL).
• Market conditions: 211 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 1,289 units permitted in Hunt County in 2024 (527 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $657 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Hunt County population projected at +15% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 298 days — a 12% lower offer ($84k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; 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 $83,599 (12.0% below list)

Questions for the listing agent

1. It's been on market 298 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 1976 — 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 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. 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: 1.25% ✓
• Cap rate: 9.25%
• Cash-on-cash: 10.55%
• DSCR: 1.47
• GRM: 6.7

CMA / ARV

• ARV (median comp): $156,982
• List price: $94,999
• Delta: -39.48%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1210 Booker St	0.19mi	3/2.0 (+1)	1,210 (+12%)	10mo	$159,900	$132	57
1000 Harrison St	0.57mi	2/1.0	1,008 (-6%)	3mo	$145,000	$144	56
1212 Booker St	0.20mi	3/2.0 (+1)	1,210 (+12%)	11mo	$159,900	$132	56
404 Bishop St	0.35mi	3/2.0 (+1)	1,200 (+11%)	7mo	$200,000	$167	54
6976 Fm 71	0.71mi	2/1.0	1,001 (-7%)	2mo	$179,000	$179	49
1702 Clark St	0.56mi	3/2.0 (+1)	1,210 (+12%)	10mo	$159,900	$132	40
707 Park St	0.63mi	3/2.0 (+1)	1,200 (+11%)	11mo	$138,000	$115	38
501 Chestnut	0.63mi	2/1.0	956 (-11%)	23mo	$119,900	$125	29

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: -0.4%
• Equity multiple: 0.98×
• Total profit: $-453
• Equity at exit: $14,165

10-year hold

• IRR: 9.3%
• Equity multiple: 1.71×
• Total profit: $18,971
• Equity at exit: $8,214

Cash invested: $26,600 (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 75428

• Home prices YoY: -6.5%
• Active inventory: 211
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,184 high
• Mortgage (P&I): −$498
• Tax from tax record: −$163 /mo · $1,960/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$249
• Net cashflow: $234

Break-even live

Break-even rent $887

Max offer price $94,999

Occupancy floor 75%

Sensitivity live

Price	-10% $288	-5% $261	+0% $234	+5% $207	+10% $180
Rent	-10% $140	-5% $187	+0% $234	+5% $281	+10% $327
Rate	-1.0pp $282	-0.5pp $258	base $234	+0.5pp $209	+1.0pp $184

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
904 N Neal St Commerce, TX	2.0	1.0	1033	$1,250	$1.21	14d	1	0.48mi
904 N Neal St Commerce, TX	2.0	1.0	1033	$1,250	$1.21	17d	1	0.48mi
811 Bishop St Commerce, TX	2.0	1.0	810	$850	$1.05	45d	1	0.48mi
800 Sycamore St Commerce, TX	2.0	2.0	1045	$1,200	$1.15	45d	1	0.53mi
1004 Park St Commerce, TX	3.0	1.0	1082	$925	$0.85	18d	1	0.59mi
1315 Oneal St Unit B Commerce, TX	3.0	2.0	1007	$1,275	$1.27	3d	1	0.80mi
1315 Oneal St Commerce, TX	3.0	2.0	1007	$1,600	$1.59	0d	1	0.80mi
1613 Park St Commerce, TX	1.0	1.0	750	$845	$1.13	45d	1	0.82mi
409 Maple St Unit 409A Commerce, TX	3.0	2.0	1098	$625	$0.57	1d	1	0.96mi
1313 Hunt St Commerce, TX	3.0	2.0	1100	$2,400	$2.18	45d	1	0.98mi
2004 Pecan St Commerce, TX	2.0	3.0	1014	$1,200	$1.18	45d	1	0.99mi
1618 Bois D'Arc St Unit 102 Commerce, TX	2.0	2.0	1000	$895	$0.90	24d	1	1.17mi
1814 Hunt St Unit 1805 6 Commerce, TX	2.0	1.5	872	$995	$1.14	26d	1	1.26mi
1814 Hunt St Unit 1809 Commerce, TX	2.0	1.5	872	$995	$1.14	45d	1	1.26mi
1814 Hunt St Unit 1303 Commerce, TX	2.0	1.0	700	$925	$1.32	45d	1	1.26mi
801 Culver St Unit C209 Commerce, TX	3.0	1.0	1053	$1,175	$1.12	21d	1	1.35mi
801 Culver St Unit A05 Commerce, TX	2.0	1.5	870	$1,025	$1.18	0d	1	1.35mi
801 Culver St Unit D209 Commerce, TX	2.0	2.0	770	$1,250	$1.62	3d	1	1.40mi

Listing history 17 events

1. 2026-06-21
   days on market $94,999 Active 298 DOM
2. 2026-06-18
   days on market $94,999 Active 295 DOM
3. 2026-06-17
   days on market $94,999 Active 294 DOM
4. 2026-06-16
   days on market $94,999 Active 293 DOM
5. 2026-06-15
   days on market $94,999 Active 292 DOM
6. 2026-06-13
   days on market $94,999 Active 290 DOM
7. 2026-06-13
   days on market $94,999 Active 289 DOM
8. 2026-06-09
   days on market $94,999 Active 286 DOM
9. 2026-06-08
   days on market $94,999 Active 285 DOM
10. 2026-06-07
    days on market $94,999 Active 284 DOM
11. 2026-06-04
    days on market $94,999 Active 281 DOM
12. 2026-06-03
    days on market $94,999 Active 280 DOM
13. 2026-06-02
    days on market $94,999 Active 279 DOM
14. 2026-06-01
    days on market $94,999 Active 278 DOM
15. 2026-05-31
    days on market $94,999 Active 277 DOM
16. 2025-08-27
    listed $94,999 Active 560-char remark

    Show marketing remark (560 chars)

    JUST LISTED THIS FIXER UPPER! We are selling this 2-bedroom home AS IS but it has a lot of potential! Despite needing some repairs and renovations this home offers both space and comfort. Situated on a large 13,987 sq. ft. lot that gives you plenty of room for outdoor activities and extra space to even make some great room additions! WE MAKE IT EASY TO OWN. This is a great opportunity! Don't wait, call us today to get more information on the owner's easy terms and smooth process that may be able to put the deed in your name and make this your dream home.

17. 1940-05-16
    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: $1,960 · $163/mo
• Projected year-2 tax: $1,960 · $163/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 FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 7/10 Severe 7 d/yr ≥110°F today · 23 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $14,202
• − Mortgage interest: −$5,321
• − Property taxes: −$1,960
• − Insurance: −$475
• − Repairs & maintenance: −$1,136
• − Management: −$1,136
• − Depreciation: −$2,764
• Taxable income: $1,410
• Est. tax owed @ 24.0%: −$338
• After-tax cash flow: $2,468/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: Commerce ISD
• NCES district ID: 4814820
• Math proficiency: 23% ▼ -10.00%
• Reading proficiency: 33% ▬ 0.00%
• Median HH income: $34,295
• Composite: 23.01/100
• National rank: #7977
• State rank: #687 of 826 in TX

Livability — Commerce

• Score: 64/100
• State rank: #737
• US rank: #13696

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Commerce, TX
• County: Hunt County · 71,969 people
• City population: 11,531
• Metro: Dallas-Fort Worth-Arlington, TX
• Population (ZIP): 11,531
• Household income: $51,424
• Rent vs Own: 48.1% rent · 51.9% own
• Severe rent burden: 546.0

Population outlook (Hunt County) Hauer SSP2

• Today (2025): 97,090 people
• By 2030: 100,452 · +3.5%
• By 2040: 106,544 · +9.7%
• By 2050: 111,218 · +14.6%
• By 2075: 121,695 · +25.3%
• By 2100: 123,683 · +27.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: White 55% Hispanic / Latino 23% Black 14% Two or more races 9% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 19%
• Common ancestry: Slovak 2% Romanian 2% Lithuanian 2%
• Foreign-born: 9% · Canada, China
• Languages at home: 79% English-only · Spanish 16% Other Indo-European 1% German/W. Germanic 1%

Political lean MEDSL · Hunt

• 2024 margin: Solid R (+55.5) · D 21.9% · R 77.4%
• 2008→2024 swing: -14.9pp toward R · 2008: -40.6pp · 2024: -55.5pp
• All cycles: 2024: R+55.5 2020: R+52.5 2016: R+56.3 2012: R+51.2 2008: R+40.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -20.08%
• Current HPI: 289.0436
• Rent YoY: —
• Metro: Dallas-Fort Worth-Arlington, 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

2 events — show timeline

• 2025-08-27 Listed $94,999 HARMLS
• 1940-05-16 Sold (Public Records) — Public Records

Property tax history

+5.0%/yr

Latest (2025): $1,960 · -26.3% YoY. Source: county tax records.