112 2nd St · Keene, TX 76059

$80,000

3 bd · 1.0 ba · 1,294 sqft · SingleFamily public records · 7 Days on market

Built 1941 10,454 sqft lot

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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
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Calling all investors! This property is packed with potential and ready for your vision. Situated on a spacious lot right in the heart of Keene and walking distance to Southwestern Adventist University, this craftsman style home offers rare opportunity for renovation, rental income, or resale. With classic curb appeal highlighted by a welcoming covered front porch, mature shade trees, and a timeless stone exterior, this is the perfect project for an investor looking to unlock value. This home could be ideal for first-time homebuyers, investors, or anyone looking for property with character and opportunity in an established neighborhood.

Key facts

• Covered front porch
• Craftsman style home
• Spacious lot

Tags

• SPACIOUS LOT
• CRAFTSMAN STYLE HOME
• COVERED FRONT PORCH
• MATURE SHADE TREES
• TIMELESS STONE EXTERIOR
• ESTABLISHED NEIGHBORHOOD

Property features AI

Finance

• Other: Property is not attached and has no accessory unit; Municipal utility district: No
• Financial info: Listing terms: Cash; Treat as clear loan type; No second mortgage indicated
• HOA & community: No homeowners association

Exterior

• Parking: Driveway (no covered or carport spaces listed)
• Utilities: City water; City sewer; Electricity connected
• Home design: Single-family residence; Residential property; One story; Built in 1941
• Construction: Stone veneer exterior; Year built: 1941
• Exterior features: Lot under 0.5 acre (~0.24 acre); Driveway access

Interior

• Kitchen: Electric cooktop; Electric oven; Built-in cabinets
• Bedrooms: Primary bedroom on main level (11 x 11); Two additional bedrooms on main level (12 x 11; 13 x 13)
• Bathrooms: One full bathroom with separate shower
• Interior features: One-level layout; One living area and one dining area; Stone fireplace in living room; Built-in cabinets in kitchen; Other interior features
• Laundry & utility: Utility room on main level (6 x 9)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $472 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Cap rate 13.4% vs local median 3.2% in Keene — 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 (#249 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, amenities F, commute F.
• Keene ISD (town): math 37% / reading 41% proficiency, ranked #447 of 826 in TX (top 54%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Keene El (math 41% / reading 42%, grade F, #1,437 of 4,322 statewide, top 34%, 239 students, 77% FRL).
• Market conditions: 73 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals leasing fast (median 7d on market — plan ~1-2 weeks tenant-placement turnaround); 2,152 units permitted in Johnson County in 2024 (76 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $553 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Johnson County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1941 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $80,000

Questions for the listing agent

1. Built in 1941 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.75% ✓
• Cap rate: 13.38%
• Cash-on-cash: 25.31%
• DSCR: 2.13
• GRM: 4.8

CMA / ARV

• ARV (on-the-fly): $236,802
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
312 S Fairview St	0.15mi	3/1.0	1,481 (+14%)	7mo	$64,999	$44	63
107 Rosedale Ave	0.51mi	3/2.0	1,340 (+4%)	6mo	$239,900	$179	61
207 S Eastern St	0.31mi	3/2.0	1,433 (+11%)	6mo	$254,000	$177	59
305 Trail Ct	0.63mi	3/2.0	1,364 (+5%)	3mo	$249,990	$183	55
523 S Eastern St	0.58mi	3/1.5	1,415 (+9%)	1mo	$114,900	$81	54
305 Pepper St	0.69mi	3/2.0	1,364 (+5%)	1mo	$260,990	$191	54
553 Pendleton Ave	0.51mi	3/2.0	1,451 (+12%)	1mo	$280,990	$194	51
317 Logan St	0.40mi	3/2.0	1,450 (+12%)	8mo	$284,990	$197	50
404 W Hillcrest St	0.48mi	3/2.0	1,416 (+9%)	10mo	$160,000	$113	50
604 Santa Fe St	0.70mi	3/2.0	1,314 (+2%)	13mo	$292,000	$222	50
206 E Maple St	0.43mi	3/1.5	1,101 (-15%)	5mo	$225,000	$204	49
309 Pepper St	0.69mi	3/2.0	1,481 (+14%)	2mo	$259,990	$176	38

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: 18.9%
• Equity multiple: 1.77×
• Total profit: $17,193
• Equity at exit: $11,928

10-year hold

• IRR: 27.3%
• Equity multiple: 3.41×
• Total profit: $53,999
• Equity at exit: $6,917

Cash invested: $22,400 (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 76059

• Home prices YoY: -7.0%
• Active inventory: 73
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,400 high
• Mortgage (P&I): −$420
• Tax from tax record: −$181 /mo · $2,171/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$294
• Net cashflow: $472

Break-even live

Break-even rent $802

Max offer price $80,000

Occupancy floor 61%

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
214 E 4th St Keene, TX	3.0	2.0	972	$1,525	$1.57	19d	1	0.20mi
214 E 4th St Keene, TX	3.0	1.5	972	$1,525	$1.57	24d	1	0.20mi
101 Pine St Keene, TX	3.0	1.0	1323	$1,400	$1.06	15d	1	0.25mi
303 Pecan St Unit A Keene, TX	2.0	2.0	1166	$1,225	$1.05	1d	1	0.26mi
400 Wells Ct Keene, TX	3.0	2.0	1250	$1,295	$1.04	1d	1	0.59mi
800 Old Betsy Rd #16 Cleburne, TX	3.0	2.0	1178	$1,300	$1.10	1d	1	0.87mi
800 Old Betsy Rd #32 Cleburne, TX	3.0	2.0	1178	$1,300	$1.10	7d	1	0.87mi
27 Blue Star Dr #27 Keene, TX	3.0	2.0	1064	$925	$0.87	43d	1	1.08mi
804 Alaska St Keene, TX	3.0	2.0	1204	$1,288	$1.07	1d	4	1.12mi
1109 Summer Wheat St Cleburne, TX	4.0	2.0	1135	$1,550	$1.37	1d	1	1.30mi
961 Prestonwood Ln Cleburne, TX	4.0	2.0	1760	$2,245	$1.28	43d	1	1.45mi

Listing history 6 events

1. 2026-06-07
   statusdays on market $80,000 Pending 7 DOM
2. 2026-06-04
   days on market $80,000 Active 6 DOM
3. 2026-06-03
   days on market $80,000 Active 5 DOM
4. 2026-06-02
   days on market $80,000 Active 4 DOM
5. 2026-06-01
   days on market $80,000 Active 3 DOM
6. 2026-05-31
   days on market $80,000 Active 2 DOM

ⓘ 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: $2,171 · $181/mo
• Projected year-2 tax: $2,171 · $181/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 5/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥109°F today · 24 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,802
• − Mortgage interest: −$4,481
• − Property taxes: −$2,171
• − Insurance: −$400
• − Repairs & maintenance: −$1,344
• − Management: −$1,344
• − Depreciation: −$2,327
• Taxable income: $4,734
• Est. tax owed @ 24.0%: −$1,136
• After-tax cash flow: $4,532/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: Keene ISD
• NCES district ID: 4825230
• Math proficiency: 37% ▼ -1.00%
• Reading proficiency: 41% ▲ 3.00%
• Median HH income: $40,764
• Composite: 32.77/100
• National rank: #5632
• State rank: #447 of 826 in TX

Livability — Keene

• Score: 72/100
• State rank: #249
• US rank: #5923

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Keene, TX
• City population: 5,333
• Population (ZIP): 5,333

Population outlook (Johnson County) Hauer SSP2

• Today (2025): 179,678 people
• By 2030: 189,208 · +5.3%
• By 2040: 207,261 · +15.4%
• By 2050: 223,064 · +24.1%
• By 2075: 259,979 · +44.7%
• By 2100: 275,395 · +53.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 54% Hispanic / Latino 32% Two or more races 13% Asian 6% Black 2%
• Hispanic origin (detail): Mexican 25% Puerto Rican 2%
• Common ancestry: Italian 2% Estonian 1% Slovak 1%
• Foreign-born: 16% · Canada, Dominican Republic
• Languages at home: 69% English-only · Spanish 27% Tagalog/Filipino 2% Other Indo-European 2%

Political lean MEDSL · Johnson

• 2024 margin: Solid R (+51.4) · D 23.9% · R 75.3%
• 2008→2024 swing: -3.9pp toward R · 2008: -47.5pp · 2024: -51.4pp
• All cycles: 2024: R+51.4 2020: R+53.0 2016: R+58.3 2012: R+55.6 2008: R+47.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -17.86%
• Current HPI: 237.62
• 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

1 event — show timeline

• 2026-05-29 Listed $80,000 NTREIS

Property tax history

+3.7%/yr

Latest (2025): $2,171 · +8.6% YoY. Source: county tax records.