617 Mulberry St · Teague, TX 75860

$40,000

2 bd · 1.0 ba · 1,020 sqft · SingleFamily public records · 96 Days on market

Built 1945 7,013 sqft lot $39/sqft · 64% below area ↓ 12% since listing

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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
• Appreciation +6.1/10.0
• Schools +3.7/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

INVEST in your future with this former income property! 617 Mulberry is a diamond in the rough with 2 bedrooms, over 1,000SF (per FCAD), a pier and beam foundation, and a generous back yard. Previously an income property, the simple layout, spacious rooms, and pier & beam foundation are ideal for those seeking a creative project. Preserve the original kitchen cabinets and claw foot bath tub for a little vintage charm and take advantage of the spacious layout to add your vision! Whether your end goal is to owner occupy, produce rental income, or fix and flip, this is a must see! Buyer to verify all details regarding this home; current seller has very limited knowledge and will be selling strictly AS-IS. All measurements are estimates for your convenience. Floorplan with estimated measurements available upon request! Shown by appointment only.

Key facts

• Generous back yard
• Spacious layout
• Claw foot bath tub

Tags

• PIER AND BEAM FOUNDATION
• GENEROUS BACK YARD
• ORIGINAL KITCHEN CABINETS
• CLAW FOOT BATH TUB
• SPACIOUS LAYOUT

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $40k.

Deal economics

• At list price, monthly cash flow is $458 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($977 rent vs $40k).
• Recommended offer: $36k (9.0% below list) — sets the bar for market timing.
• Cap rate 20.0% vs local median 2.6% in Teague — 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 67/100 on livability (#518 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: schools D+, amenities F, commute F.
• Teague ISD (town): math 43% / reading 45% proficiency, ranked #289 of 826 in TX (top 35%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 83 active listings in the ZIP; 2 units permitted in Freestone County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $1k of equity ($277 loan paydown + $883 appreciation (2.2% local appreciation)).
• Freestone County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (2.2% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 96 days — a 9% lower offer ($36k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 74% 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 $36,400 (9.0% below list)

Questions for the listing agent

1. It's been on market 96 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 2.44% ✓
• Cap rate: 20.04%
• Cash-on-cash: 49.11%
• DSCR: 3.19
• GRM: 3.4

CMA / ARV

• ARV (median comp): $110,971
• List price: $40,000
• Delta: -63.95%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
712 Oak St	0.20mi	2/1.5	1,108 (+9%)	23mo	$129,000	$116	55
1209 China St	0.37mi	2/2.0	1,098 (+8%)	14mo	$259,000	$236	55
1205 Elm St	0.51mi	3/2.0 (+1)	1,169 (+15%)	19mo	$79,900	$68	27

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

2.21% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 53.3%
• Equity multiple: 3.89×
• Total profit: $32,399
• Equity at exit: $16,228

10-year hold

• IRR: 53.7%
• Equity multiple: 7.84×
• Total profit: $76,604
• Equity at exit: $23,720

Cash invested: $11,200 (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 75860

• Home prices YoY: 1.5%
• Active inventory: 83
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $977 medium
• Mortgage (P&I): −$210
• Tax from tax record: −$87 /mo · $1,045/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$205
• Net cashflow: $458

Break-even live

Break-even rent $397

Max offer price $40,000

Occupancy floor 48%

Sensitivity live

Price	-10% $481	-5% $470	+0% $458	+5% $447	+10% $436
Rent	-10% $381	-5% $420	+0% $458	+5% $497	+10% $536
Rate	-1.0pp $479	-0.5pp $469	base $458	+0.5pp $448	+1.0pp $437

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: $10,000
• Closing costs: $1,200
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-21
   days on market $40,000 Active 96 DOM
2. 2026-06-18
   days on market $40,000 Active 94 DOM
3. 2026-06-17
   days on market $40,000 Active 93 DOM
4. 2026-06-16
   days on market $40,000 Active 92 DOM
5. 2026-06-15
   days on market $40,000 Active 91 DOM
6. 2026-06-15
   days on market $40,000 Active 90 DOM
7. 2026-06-13
   days on market $40,000 Active 89 DOM
8. 2026-06-12
   days on market $40,000 Active 88 DOM
9. 2026-06-09
   days on market $40,000 Active 85 DOM
10. 2026-06-08
    days on market $40,000 Active 84 DOM
11. 2026-06-08
    days on market $40,000 Active 83 DOM
12. 2026-06-05
    days on market $40,000 Active 81 DOM
13. 2026-06-03
    days on market $40,000 Active 79 DOM
14. 2026-06-02
    days on market $40,000 Active 78 DOM
15. 2026-06-01
    days on market $40,000 Active 77 DOM
16. 2026-05-31
    days on market $40,000 Active 76 DOM
17. 2026-04-30
    price $44,000 857-char remark

    Show marketing remark (857 chars)

    INVEST in your future with this former income property! 617 Mulberry is a diamond in the rough with 2 bedrooms, over 1,000SF (per FCAD), a pier and beam foundation, and a generous back yard. Previously an income property, the simple layout, spacious rooms, and pier & beam foundation are ideal for those seeking a creative project. Preserve the original kitchen cabinets and claw foot bath tub for a little vintage charm and take advantage of the spacious layout to add your vision! Whether your end goal is to owner occupy, produce rental income, or fix and flip, this is a must see! Buyer to verify all details regarding this home; current seller has very limited knowledge and will be selling strictly AS-IS. All measurements are estimates for your convenience. Floorplan with estimated measurements available upon request! Shown by appointment only.

18. 2026-04-08
    price $47,500 857-char remark

    Show marketing remark (857 chars)

    INVEST in your future with this former income property! 617 Mulberry is a diamond in the rough with 2 bedrooms, over 1,000SF (per FCAD), a pier and beam foundation, and a generous back yard. Previously an income property, the simple layout, spacious rooms, and pier & beam foundation are ideal for those seeking a creative project. Preserve the original kitchen cabinets and claw foot bath tub for a little vintage charm and take advantage of the spacious layout to add your vision! Whether your end goal is to owner occupy, produce rental income, or fix and flip, this is a must see! Buyer to verify all details regarding this home; current seller has very limited knowledge and will be selling strictly AS-IS. All measurements are estimates for your convenience. Floorplan with estimated measurements available upon request! Shown by appointment only.

19. 2026-03-17
    listed $50,000 Active 857-char remark

    Show marketing remark (857 chars)

    INVEST in your future with this former income property! 617 Mulberry is a diamond in the rough with 2 bedrooms, over 1,000SF (per FCAD), a pier and beam foundation, and a generous back yard. Previously an income property, the simple layout, spacious rooms, and pier & beam foundation are ideal for those seeking a creative project. Preserve the original kitchen cabinets and claw foot bath tub for a little vintage charm and take advantage of the spacious layout to add your vision! Whether your end goal is to owner occupy, produce rental income, or fix and flip, this is a must see! Buyer to verify all details regarding this home; current seller has very limited knowledge and will be selling strictly AS-IS. All measurements are estimates for your convenience. Floorplan with estimated measurements available upon request! Shown by appointment only.

20. 1997-06-16
    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: $1,045 · $87/mo
• Projected year-2 tax: $1,045 · $87/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 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥110°F today · 25 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 74% 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: $11,725
• − Mortgage interest: −$2,241
• − Property taxes: −$1,045
• − Insurance: −$200
• − Repairs & maintenance: −$938
• − Management: −$938
• − Depreciation: −$1,164
• Taxable income: $5,200
• Est. tax owed @ 24.0%: −$1,248
• After-tax cash flow: $4,253/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: Teague ISD
• NCES district ID: 4842300
• Math proficiency: 43% ▼ -5.00%
• Reading proficiency: 45% ▲ 2.00%
• Median HH income: $46,009
• Composite: 37.43/100
• National rank: #4419
• State rank: #289 of 826 in TX

Livability — Teague

• Score: 67/100
• State rank: #518
• US rank: #10201

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Teague, TX
• Population (ZIP): 6,451

Population outlook (Freestone County) Hauer SSP2

• Today (2025): 19,591 people
• By 2030: 19,470 · -0.6%
• By 2040: 19,111 · -2.5%
• By 2050: 18,700 · -4.5%
• By 2075: 17,586 · -10.2%
• By 2100: 14,933 · -23.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: White 50% Hispanic / Latino 30% Two or more races 24% Black 15%
• Hispanic origin (detail): Mexican 25%
• Common ancestry: Lithuanian 2% Iranian 1% Slovak 1%
• Foreign-born: 7% · Canada
• Languages at home: 81% English-only · Spanish 18% Arabic 1%

Political lean MEDSL · Freestone

• 2024 margin: Solid R (+66.3) · D 16.6% · R 82.9%
• 2008→2024 swing: -22.8pp toward R · 2008: -43.5pp · 2024: -66.3pp
• All cycles: 2024: R+66.3 2020: R+61.5 2016: R+59.6 2012: R+50.2 2008: R+43.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.21%
• Current HPI: 152.2612
• 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

-12.0% since first listed

4 events — show timeline

• 2026-04-30 Price Changed $44,000 NTREIS
• 2026-04-08 Price Changed $47,500 NTREIS
• 2026-03-17 Listed $50,000 NTREIS
• 1997-06-16 Sold (Public Records) — Public Records

Property tax history

+3.1%/yr

Latest (2025): $1,045 · -4.0% YoY. Source: county tax records.