1087 Fm 23w · Rusk, TX 75785

$165,000

6 bd · 2.0 ba · 2,280 sqft · SingleFamily public records · 64 Days on market

Built 1916 2.20 ac lot ↓ 34% since listing

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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 +14.9/30.0
• Appreciation +9.5/10.0
• ARV discount +7.5/15.0
• DSCR +4.5/10.0
• 1% rule +3.8/10.0
• Schools +3.5/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Spacious 2-story fixer-upper with tons of potential! This 6-bedroom, 2-bath home offers approximately 2,280 sq ft of living space and sits on over 2 unrestricted acres, giving you plenty of room to expand, customize or simply enjoy the open space. Several rooms just need light cosmetic updates, while three bedrooms and one bathroom are ready for your personal touch and renovation. Conveniently located just 5 minutes from everyday essentials, shopping, and dining. A great opportunity for investors or buyers looking to create their dream home!

Key facts

• Unrestricted acres
• 2.2 acre lot
• Built 1916

Tags

• UNRESTRICTED ACRES
• LIGHT COSMETIC UPDATES

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $47 ($566/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 $144k (12.5% below list).
• Recommended offer: $144k (12.5% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 3.0% in Rusk — 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 (#405 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Rusk ISD (rural): math 40% / reading 43% proficiency, ranked #380 of 826 in TX (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 124 active listings in the ZIP; 39 units permitted in Cherokee County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $16k of equity ($1k loan paydown + $15k appreciation (9.1% local appreciation)).
• At projected returns (9.1% appreciation + 3.0% rent growth), your $46k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 64 days — a 6% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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 1916 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $144,430 (12.5% below list)

Questions for the listing agent

1. It's been on market 64 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 1916 — 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: 0.88% ✗
• Cap rate: 6.64%
• Cash-on-cash: 1.23%
• DSCR: 1.05
• GRM: 9.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

9.09% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 23.3%
• Equity multiple: 2.79×
• Total profit: $82,698
• Equity at exit: $137,834

10-year hold

• IRR: 20.9%
• Equity multiple: 6.17×
• Total profit: $239,016
• Equity at exit: $286,443

Cash invested: $46,200 (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 75785

• Home prices YoY: 6.5%
• Active inventory: 124
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,444 medium
• Mortgage (P&I): −$865
• Tax from tax record: −$160 /mo · $1,918/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$303
• Net cashflow: $47

Break-even live

Break-even rent $1,385

Max offer price $165,000

Occupancy floor 92%

Sensitivity live

Price	-10% $141	-5% $94	+0% $47	+5% $0	+10% $-46
Rent	-10% $-67	-5% $-10	+0% $47	+5% $104	+10% $161
Rate	-1.0pp $130	-0.5pp $89	base $47	+0.5pp $4	+1.0pp $-39

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-19
   days on market $165,000 Active 64 DOM
2. 2026-06-18
   days on market $165,000 Active 63 DOM
3. 2026-06-17
   days on market $165,000 Active 62 DOM
4. 2026-06-16
   days on market $165,000 Active 61 DOM
5. 2026-06-15
   days on market $165,000 Active 60 DOM
6. 2026-06-14
   days on market $165,000 Active 58 DOM
7. 2026-06-12
   days on market $165,000 Active 57 DOM
8. 2026-06-09
   days on market $165,000 Active 54 DOM
9. 2026-06-08
   days on market $165,000 Active 53 DOM
10. 2026-06-07
    days on market $165,000 Active 52 DOM
11. 2026-06-07
    days on market $165,000 Active 51 DOM
12. 2026-06-04
    days on market $165,000 Active 48 DOM
13. 2026-06-02
    days on market $165,000 Active 47 DOM
14. 2026-06-01
    days on market $165,000 Active 46 DOM
15. 2026-05-31
    days on market $165,000 Active 45 DOM
16. 2026-05-31
    days on market $165,000 Active 44 DOM
17. 2026-04-12
    listed $165,000 Active 547-char remark

    Show marketing remark (547 chars)

    Spacious 2-story fixer-upper with tons of potential! This 6-bedroom, 2-bath home offers approximately 2,280 sq ft of living space and sits on over 2 unrestricted acres, giving you plenty of room to expand, customize or simply enjoy the open space. Several rooms just need light cosmetic updates, while three bedrooms and one bathroom are ready for your personal touch and renovation. Conveniently located just 5 minutes from everyday essentials, shopping, and dining. A great opportunity for investors or buyers looking to create their dream home!

18. 2026-03-04
    price $175,000
19. 2025-12-20
    price $185,000
20. 2024-06-21
    price $235,000
21. 2024-05-14
    listed $250,000 Active
22. 2021-04-28
    soldstatus
23. 1994-04-12
    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: $1,918 · $160/mo
• Projected year-2 tax: $3,020 · $252/mo
• Expected delta: +$1,102/yr (+$92/mo · 57.5%)

ⓘ 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 7 d/yr ≥109°F today · 25 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $17,332
• − Mortgage interest: −$9,243
• − Property taxes: −$1,918
• − Insurance: −$825
• − Repairs & maintenance: −$1,387
• − Management: −$1,387
• − Depreciation: −$4,800
• Taxable loss: −$2,227
• Est. tax savings @ 24.0%: +$534
• After-tax cash flow: $1,100/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: Rusk ISD
• NCES district ID: 4838360
• Math proficiency: 40% ▼ -7.00%
• Reading proficiency: 43% ▼ -1.00%
• Median HH income: $41,890
• Composite: 34.96/100
• National rank: #5062
• State rank: #380 of 826 in TX

Livability — Rusk

• Score: 69/100
• State rank: #405
• US rank: #8394

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

• Population (ZIP): 10,769

Population outlook (Cherokee County) Hauer SSP2

• Today (2025): 51,949 people
• By 2030: 51,984 · +0.1%
• By 2040: 51,780 · -0.3%
• By 2050: 51,085 · -1.7%
• By 2075: 47,418 · -8.7%
• By 2100: 39,464 · -24.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 57% Black 22% Hispanic / Latino 16% Two or more races 9%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Lithuanian 1% Portuguese 1% Italian 1%
• Foreign-born: 5% · Canada, Vietnam
• Languages at home: 86% English-only · Spanish 13%

Political lean MEDSL · Cherokee

• 2024 margin: Solid R (+62.7) · D 18.3% · R 80.9%
• 2008→2024 swing: -19.5pp toward R · 2008: -43.2pp · 2024: -62.7pp
• All cycles: 2024: R+62.7 2020: R+55.8 2016: R+56.5 2012: R+51.0 2008: R+43.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 9.09%
• Current HPI: 147.91
• 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

-34.0% since first listed

7 events — show timeline

• 2026-04-12 Listed $165,000 Deep East Texas MLS
• 2026-03-04 Price Changed $175,000 GTAR
• 2025-12-20 Price Changed $185,000 GTAR
• 2024-06-21 Price Changed $235,000 Deep East Texas MLS
• 2024-05-14 Listed $250,000 Deep East Texas MLS
• 2021-04-28 Sold (Public Records) — Public Records
• 1994-04-12 Sold (Public Records) — Public Records

Property tax history

+5.0%/yr

Latest (2025): $1,918 · +10.0% YoY. Source: county tax records.