404 S Love Ave · Florence, TX 76527

$194,500

4 bd · 1.0 ba · 1,181 sqft · SingleFamily public records · 12 Days on market

Built 1947 10,018 sqft lot

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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 +27.5/30.0
• DSCR +9.6/10.0
• 1% rule +7.5/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This is a FIXER UPPER! Home is being sold AS IS, with a few selective repairs. There is tons of potential with this property and has a very large yard with mature trees. It sits in a quiet neighborhood nestled on the SE side of town. Walking distance to the towns grocery store and shopping.

Key facts

• 0.23 acre lot
• 2 parking spots
• Built 1947

Property features AI

Exterior

• Parking: Off-street parking for 2 vehicles
• Utilities: Electricity available; Public water; Public sewer
• Home design: One-story home; East-facing; Resale property
• Construction: HardiPlank-type siding; Composition roof; Pillar/post/pier foundation; Built according to public records
• Exterior features: Back yard with chain-link fencing; Front yard; Mature/large trees

Interior

• Kitchen: Oven; Refrigerator
• Bedrooms: 4 main-level bedrooms
• Flooring: Carpet; Vinyl; Wood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Wall/window cooling units
• Interior features: Main-level primary bedroom; Has a view
• Laundry & utility: Indoor laundry

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $194k.

Deal economics

• At list price, monthly cash flow is $573 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $194k).
• Cap rate 9.8% vs local median 1.5% in Florence — 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 74/100 on livability (#175 in TX, #4,622 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D, employment D, amenities F.
• Florence ISD (rural): math 32% / reading 34% proficiency, ranked #542 of 826 in TX (top 66%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 112 active listings in the ZIP; 7,543 units permitted in Williamson County in 2024 (1,425 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 $6k of value loss. Plan a longer hold.
• Williamson County population projected at +69% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $54k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 5y 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 1947 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 77% 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 $194,500

Questions for the listing agent

1. Built in 1947 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 9.83%
• Cash-on-cash: 12.63%
• DSCR: 1.56
• GRM: 6.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 2.4%
• Equity multiple: 1.09×
• Total profit: $5,013
• Equity at exit: $29,001

10-year hold

• IRR: 12.0%
• Equity multiple: 1.95×
• Total profit: $51,504
• Equity at exit: $16,817

Cash invested: $54,460 (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 76527

• Home prices YoY: -4.2%
• Active inventory: 112
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $2,426 medium
• Mortgage (P&I): −$1,020
• Tax from tax record: −$243 /mo · $2,913/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$510
• Net cashflow: $573

Break-even live

Break-even rent $1,701

Max offer price $194,500

Occupancy floor 71%

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: $48,625
• Closing costs: $5,835
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-18
   days on market $194,500 Active 12 DOM
2. 2026-06-17
   days on market $194,500 Active 11 DOM
3. 2026-06-16
   days on market $194,500 Active 10 DOM
4. 2026-06-15
   price $194,500 Active 9 DOM
5. 2026-06-15
   days on market $199,000 Active 9 DOM
6. 2026-06-14
   days on market $199,000 Active 7 DOM
7. 2026-06-13
   days on market $199,000 Active 6 DOM
8. 2026-06-10
   days on market $199,000 Active 4 DOM
9. 2026-06-09
   days on market $199,000 Active 3 DOM
10. 2026-06-08
    days on market $199,000 Active 2 DOM
11. 2026-06-07
    remarks 566-char remark
12. 2026-06-07
    listed $199,000 Active 1 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: $2,913 · $243/mo
• Projected year-2 tax: $3,559 · $297/mo
• Expected delta: +$647/yr (+$54/mo · 22.2%)

ⓘ 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 ≥107°F today · 23 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 77% 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: $29,115
• − Mortgage interest: −$10,895
• − Property taxes: −$2,913
• − Insurance: −$972
• − Repairs & maintenance: −$2,329
• − Management: −$2,329
• − Depreciation: −$5,658
• Taxable income: $4,018
• Est. tax owed @ 24.0%: −$964
• After-tax cash flow: $5,911/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: Florence ISD
• NCES district ID: 4819320
• Math proficiency: 32% ▼ -9.00%
• Reading proficiency: 34% ▼ -3.00%
• Median HH income: $52,324
• Composite: 28.91/100
• National rank: #6637
• State rank: #542 of 826 in TX

Livability — Florence

• Score: 74/100
• State rank: #175
• US rank: #4622

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: Florence, TX
• City population: 4,686
• Population (ZIP): 4,686

Population outlook (Williamson County) Hauer SSP2

• Today (2025): 699,027 people
• By 2030: 795,537 · +13.8%
• By 2040: 990,683 · +41.7%
• By 2050: 1,184,292 · +69.4%
• By 2075: 1,623,825 · +132.3%
• By 2100: 1,924,153 · +175.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (64%)
• Race & ethnicity: White 64% Hispanic / Latino 32% Two or more races 17%
• Hispanic origin (detail): Mexican 32%
• Common ancestry: Romanian 8% Lithuanian 4% Slovak 3%
• Foreign-born: 11% · Canada
• Languages at home: 83% English-only · Spanish 17%

Political lean MEDSL · Williamson

• 2024 margin: Toss-up / Even · D 48.0% · R 50.4% · Other 1.6%
• 2008→2024 swing: +10.6pp toward D · 2008: -13.0pp · 2024: -2.5pp
• All cycles: 2024: R+2.5 2020: D+1.4 2016: R+9.9 2012: R+21.5 2008: R+13.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -11.27%
• Current HPI: 258.0594
• 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

+32.7% since first listed

6 events — show timeline

• 2026-06-06 Listed $199,000 Unlock MLS
• 2021-11-15 Sold (Public Records) — Public Records
• 2021-11-15 Sold (MLS) — Unlock MLS
• 2021-10-29 Pending — Unlock MLS
• 2021-10-21 Price Changed $120,000 Unlock MLS
• 2021-09-09 Listed $150,000 Unlock MLS

Property tax history

+7.0%/yr

Latest (2026): $2,913 · -13.3% YoY. Source: county tax records.