400 E Cotton St · Longview, TX 75601

$149,000

4 bd · 4.0 ba · 2,112 sqft · MultiFamily public records · 188 Days on market

◐ Fractional Built 1946 Fair condition 0.62 ac lot $71/sqft · 53% below area

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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
• Schools +5.7/10.0
• Livability +3.7/5.0
• Rent growth +3.3/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Seller will Finance! $20K down, 6.95% interest rate. $1,000 Monthly Payment. Stay on one side and rent the other side.. Investment Opportunity Near Downtown Longview. Discover this high-performing duplex located just minutes from the heart of downtown. This property features two identical units, each offering a spacious 2-bedroom, 2-bathroom layout. Designed for durability and low maintenance, the building is equipped with a modern corrugated metal roof. Key Highlights: Income Generator: Both sides rent easily at $850 per month, per side. Convenient Parking: Situated on a large lot providing ample space for off-street parking. Ready for Inspection: One unit has been kept vacant specifically to allow for easy showings without disturbing tenants Flexible Purchase Options: This property is available via Seller (Owner) Financing. Whether you are looking to expand your rental portfolio or seeking a house hack opportunity, this well-maintained duplex is a must-see.

Key facts

• 0.62 acre lot
• 2 parking spots
• Built 1946

Tags

• HIGH-PERFORMING DUPLEX
• MODERN CORRUGATED METAL ROOF
• WELL-MAINTAINED DUPLEX

🏷️ Possibly a rental listed for sale. The $149,000 price doesn't fit this home's estimated sale value (~$314,492) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/2-bath units multifamily listed at $149k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $820 ($10k/yr) — positive. Per door: $410/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $149k).
• Recommended offer: $131k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.9% vs local median 3.6% in Longview — 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 73/100 on livability (#213 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, crime D+, amenities F.
• Longview ISD (urban): math 49% / reading 46% proficiency, ranked #244 of 826 in TX (top 30%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Longview H S (math 61% / reading 52%, grade C, #357 of 1,632 statewide, top 22%, 2,170 students, 82% FRL, charter) — zoned schools average 82% FRL vs 66% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.3%/yr); 251 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); 193 units permitted in Gregg 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 $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.3% rent growth), your $42k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 188 days — a 12% lower offer ($131k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1946 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 56% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $131,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 188 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1946 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
10. 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.
11. 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.
12. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.59% ✓
• Cap rate: 12.89%
• Cash-on-cash: 23.58%
• DSCR: 2.05
• GRM: 5.2

CMA / ARV

• ARV (median comp): $314,492
• List price: $149,000
• Delta: -52.62%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
406 S Fredonia St	0.28mi	4/4.0	2,491 (+18%)	19mo	$319,900	$128	46
502 Meadowbrook Dr	1.47mi	3/2.0 (-1)	1,955 (-7%)	3mo	$289,900	$148	37
646 Adams Rd	1.07mi	3/2.5 (-1)	2,225 (+5%)	12mo	$630,000	$283	35
7 Lindsey Ln	1.39mi	3/2.0 (-1)	2,564 (+21%)	6mo	$339,700	$132	22
1201 S 12th St	1.22mi	3/2.0 (-1)	1,752 (-17%)	11mo	$72,999	$42	18
915 S 15th St	1.28mi	3/2.0 (-1)	1,720 (-19%)	27mo	$170,000	$99	7
1218 Brandywine	1.42mi	3/2.0 (-1)	1,781 (-16%)	33mo	$230,000	$129	7

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 · 3.29% rent growth · sell at horizon

5-year hold

• IRR: 17.0%
• Equity multiple: 1.69×
• Total profit: $28,801
• Equity at exit: $22,216

10-year hold

• IRR: 25.8%
• Equity multiple: 3.29×
• Total profit: $95,357
• Equity at exit: $12,883

Cash invested: $41,720 (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 75601

• Home prices YoY: -29.9%
• Rents YoY: 3.3%
• Active inventory: 251
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $2,367 high
• Mortgage (P&I): −$781
• Tax from tax record: −$207 /mo · $2,482/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$497
• Net cashflow: $820

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	2	$2,366
Total (2 units)			$2,367

Break-even live

Break-even rent $1,329

Max offer price $149,000

Occupancy floor 60%

Sensitivity live

Price	-10% $904	-5% $862	+0% $820	+5% $777	+10% $735
Rent	-10% $633	-5% $726	+0% $820	+5% $913	+10% $1,007
Rate	-1.0pp $895	-0.5pp $858	base $820	+0.5pp $781	+1.0pp $742

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: $37,250
• Closing costs: $4,470
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
428 S Fredonia St Longview, TX	1.0	1.0	—	$495	—	2d	2	0.25mi
428 S Fredonia St Unit D Longview, TX	1.0	1.0	—	$495	—	9d	1	0.25mi
406 S Fredonia St Unit A Longview, TX	1.0	1.0	550	$800	$1.45	2d	1	0.27mi
406 S Fredonia St Unit B Longview, TX	1.0	1.0	550	$750	$1.36	184d	1	0.27mi
115 E Tyler St Unit 200 Longview, TX	1.0	1.0	900	$1,495	$1.66	184d	1	0.32mi
115 E Tyler St Unit 102 Longview, TX	1.0	1.0	1250	$1,595	$1.28	48d	1	0.32mi
717 S Green St Longview, TX	2.0	1.0	880	$895	$1.02	43d	1	0.43mi
717 S Green St Longview, TX	1.0	1.0	624	$795	$1.27	162d	1	0.43mi
717 S Green St Longview, TX	1.0–2.0	1.0	752	$895	$1.19	10d	2	0.43mi
906 E Cotton St Unit A Longview, TX	1.0	1.0	—	$495	—	29d	1	0.45mi
906 E Cotton St Unit C Longview, TX	1.0	1.0	600	$555	$0.93	184d	1	0.45mi
207 Davis St Apt 207 Longview, TX	1.0	1.0	—	$495	—	10d	1	0.46mi
434 S High St Unit a Longview, TX	3.0	1.0	—	$695	—	7d	1	0.51mi
437 N Fredonia St Apt 212 Longview, TX	1.0	1.0	600	$700	$1.17	184d	1	0.52mi
437 N Fredonia St Apt 217 Longview, TX	1.0	1.0	600	$700	$1.17	162d	1	0.52mi
402 Davis St Unit 6 Longview, TX	1.0	1.0	—	$495	—	10d	1	0.52mi
406 Davis St Unit A Longview, TX	1.0	1.0	600	$495	$0.82	10d	1	0.54mi
207 S Grant St Longview, TX	3.0	2.0	1090	$1,249	$1.15	1d	1	0.56mi
309 S Park St Longview, TX	2.0	1.0	1060	$1,080	$1.02	162d	1	0.72mi
610 S Park St Longview, TX	3.0	2.0	1028	$1,400	$1.36	184d	1	0.80mi
607 S Park St Longview, TX	3.0	2.0	1218	$1,400	$1.15	184d	1	0.82mi
100 W Pliler St Unit 100 Longview, TX	3.0	2.0	872	$775	$0.89	1d	1	0.89mi
408 S 13th St Longview, TX	3.0	1.0	1053	$1,200	$1.14	10d	1	0.92mi
1604 Harris St Longview, TX	2.0	1.0	—	$1,100	—	38d	1	0.95mi
1604 Harris St Longview, TX	2.0	1.0	—	$1,100	—	10d	1	0.95mi
617 W Sabine St Longview, TX	3.0	1.0	674	$849	$1.26	0d	1	0.97mi
1600 Gay St Longview, TX	3.0	2.0	909	$1,130	$1.24	1d	1	0.98mi
619 W Sabine St Longview, TX	3.0	1.0	836	$915	$1.09	1d	1	0.98mi
801 W Walnut St Longview, TX	3.0	2.0	1300	$1,690	$1.30	154d	1	0.99mi
621 W Sabine St Longview, TX	3.0	1.0	836	$949	$1.14	38d	1	0.99mi
801 Roosevelt St Longview, TX	3.0	2.0	1300	$1,514	$1.16	184d	1	1.01mi
803 Roosevelt St Longview, TX	3.0	2.0	1090	$1,264	$1.16	20d	1	1.01mi
712 W Washington St Longview, TX	3.0	2.0	1090	$1,049	$0.96	1d	1	1.02mi
405 S 15th St Unit B Longview, TX	3.0	2.0	980	$975	$0.99	38d	1	1.05mi
902 W Walnut St Longview, TX	3.0	2.0	1090	$1,260	$1.16	1d	1	1.06mi
1809 Nowlin St Longview, TX	2.0	1.0	808	$895	$1.11	6d	1	1.12mi
600 W Avalon Ave Apt 216 Longview, TX	1.0	1.0	685	$895	$1.31	2d	1	1.28mi
600 W Avalon Ave Apt 256 Longview, TX	2.0	1.0	925	$929	$1.00	184d	1	1.28mi
600 W Avalon Ave Unit 222 Longview, TX	1.0	1.0	740	$849	$1.15	10d	1	1.28mi
600 W Avalon Ave Unit 209 Longview, TX	1.0	1.0	685	$895	$1.31	51d	1	1.28mi

Listing history 27 events

1. 2026-06-30
   days on market $149,000 Active 188 DOM
2. 2026-06-29
   days on market $149,000 Active 187 DOM
3. 2026-06-28
   days on market $149,000 Active 186 DOM
4. 2026-06-28
   days on market $149,000 Active 185 DOM
5. 2026-06-27
   days on market $149,000 Active 184 DOM
6. 2026-06-25
   days on market $149,000 Active 182 DOM
7. 2026-06-23
   days on market $149,000 Active 180 DOM
8. 2026-06-22
   days on market $149,000 Active 179 DOM
9. 2026-06-19
   days on market $149,000 Active 177 DOM
10. 2026-06-18
    days on market $149,000 Active 176 DOM
11. 2026-06-17
    days on market $149,000 Active 175 DOM
12. 2026-06-16
    days on market $149,000 Active 174 DOM
13. 2026-06-15
    days on market $149,000 Active 173 DOM
14. 2026-06-14
    days on market $149,000 Active 171 DOM
15. 2026-06-13
    days on market $149,000 Active 170 DOM
16. 2026-06-10
    days on market $149,000 Active 168 DOM
17. 2026-06-09
    days on market $149,000 Active 167 DOM
18. 2026-06-08
    days on market $149,000 Active 166 DOM
19. 2026-06-07
    days on market $149,000 Active 165 DOM
20. 2026-06-05
    days on market $149,000 Active 162 DOM
21. 2026-06-03
    days on market $149,000 Active 161 DOM
22. 2026-06-02
    days on market $149,000 Active 160 DOM
23. 2026-06-01
    days on market $149,000 Active 159 DOM
24. 2026-05-31
    days on market $149,000 Active 158 DOM
25. 2026-05-30
    days on market $149,000 Active 157 DOM
26. 2026-02-02
    price $149,000 987-char remark

    Show marketing remark (987 chars)

    Seller will Finance! $20K down, 6.95% interest rate. $1,000 Monthly Payment. Stay on one side and rent the other side.. Investment Opportunity Near Downtown Longview. Discover this high-performing duplex located just minutes from the heart of downtown. This property features two identical units, each offering a spacious 2-bedroom, 2-bathroom layout. Designed for durability and low maintenance, the building is equipped with a modern corrugated metal roof. Key Highlights: Income Generator: Both sides rent easily at $850 per month, per side. Convenient Parking: Situated on a large lot providing ample space for off-street parking. Ready for Inspection: One unit has been kept vacant specifically to allow for easy showings without disturbing tenants Flexible Purchase Options: This property is available via Seller (Owner) Financing. Whether you are looking to expand your rental portfolio or seeking a house hack opportunity, this well-maintained duplex is a must-see.

27. 2025-12-24
    listed $149,900 Active 987-char remark

    Show marketing remark (987 chars)

    Seller will Finance! $20K down, 6.95% interest rate. $1,000 Monthly Payment. Stay on one side and rent the other side.. Investment Opportunity Near Downtown Longview. Discover this high-performing duplex located just minutes from the heart of downtown. This property features two identical units, each offering a spacious 2-bedroom, 2-bathroom layout. Designed for durability and low maintenance, the building is equipped with a modern corrugated metal roof. Key Highlights: Income Generator: Both sides rent easily at $850 per month, per side. Convenient Parking: Situated on a large lot providing ample space for off-street parking. Ready for Inspection: One unit has been kept vacant specifically to allow for easy showings without disturbing tenants Flexible Purchase Options: This property is available via Seller (Owner) Financing. Whether you are looking to expand your rental portfolio or seeking a house hack opportunity, this well-maintained duplex is a must-see.

ⓘ 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: $2,482 · $207/mo
• Projected year-2 tax: $2,727 · $227/mo
• Expected delta: +$245/yr (+$20/mo · 9.9%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥111°F today · 25 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 56% 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: $28,404
• − Mortgage interest: −$8,346
• − Property taxes: −$2,482
• − Insurance: −$745
• − Repairs & maintenance: −$2,272
• − Management: −$2,272
• − Depreciation: −$4,335
• Taxable income: $7,952
• Est. tax owed @ 24.0%: −$1,908
• After-tax cash flow: $7,927/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.

Condition & rehab AI · 9 photos

Fair 45/100 Moderate rehab Est. rehab $52,800–$95,040 screening

This property requires significant repairs and maintenance, including a new roof and exterior painting, to improve its condition and value.

Components & finishes AI

Roof metal Flooring wood

Repairs flagged

• Major roof — The satellite image shows significant wear on the roof.
• Major exterior siding — The satellite image shows weathered siding.
• Major flooring — The flooring appears worn and in need of refinishing.

Value-add opportunities

• Both painting the exterior and interior — Painting will improve the curb appeal and interior aesthetics, enhancing both resale and rental value. ↑
• Both replacing the roof — A new roof will significantly increase the property's value and reduce ongoing maintenance costs. ↑
• Both replacing the flooring — New flooring will improve the interior's appearance and increase the property's rental value. ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

D Composite school gradezoned avg 56/100

Zoned Schools

Elementary Bramlette Steam Academy C+ TX #559/4,322 Nat'l #9,263/41,679 High Longview H S C TX #357/1,632 Nat'l #4,271/17,239

Schools (NCES district)

• District: Longview ISD
• NCES district ID: 4828110
• Math proficiency: 49% ▼ -4.00%
• Reading proficiency: 46% ▼ -1.00%
• Median HH income: $39,837
• Composite: 39.76/100
• National rank: #3889
• State rank: #244 of 826 in TX

B Composite livability gradescore 73/100

Livability — Longview

• Score: 73/100
• State rank: #213
• US rank: #5287

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Longview, TX
• County: Gregg County · 125,947 people
• City population: 103,792
• Metro: Longview, TX
• Population (ZIP): 15,780
• Household income: $65,700
• Rent vs Own: 39.1% rent · 60.9% own
• Severe rent burden: 6% of renters

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Population outlook (Gregg County) Hauer SSP2

• Today (2025): 125,947 people
• By 2030: 126,542 · +0.5%
• By 2040: 127,311 · +1.1%
• By 2050: 127,289 · +1.1%
• By 2075: 124,954 · -0.8%
• By 2100: 113,737 · -9.7%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: White 53% Black 21% Hispanic / Latino 21% Two or more races 13% Asian 3%
• Hispanic origin (detail): Mexican 17%
• Languages at home: 81% English-only · Spanish 16% Other Indo-European 1% Other Asian/Pacific 1%

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Political lean MEDSL · Gregg

• 2024 margin: Solid R (+42.2) · D 28.5% · R 70.7%
• 2008→2024 swing: -4.6pp toward R · 2008: -37.6pp · 2024: -42.2pp
• All cycles: 2024: R+42.2 2020: R+36.9 2016: R+41.3 2012: R+39.5 2008: R+37.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -107.73%
• Current HPI: 252.0752
• Rent YoY: ▲ 3.29%
• Metro: Longview, TX
• State GDP YoY: ▲ 3.95%
• F500 in state: 110

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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

-0.6% since first listed

2 events — show timeline

• 2026-02-02 Price Changed $149,000 NTREIS
• 2025-12-24 Listed $149,900 NTREIS

Property tax history

+8.9%/yr

Latest (2025): $2,482 · +3.4% YoY. Source: county tax records.