1221 Old Noonday Rd · Tyler, TX 75701

$149,900

3 bd · 2.0 ba · 1,170 sqft · SingleFamily public records · 150 Days on market

Built 1949 0.28 ac lot $128/sqft · 11% below area Est $169k · 11% under

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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 +15.7/30.0
• ARV discount +12.6/15.0
• DSCR +4.8/10.0
• 1% rule +4.1/10.0
• Livability +3.8/5.0
• Rent growth +3.4/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This existing home on a large 12,000+ sq ft lot is perfect for a full renovation or a strategic tear-down to make way for new construction. Zoned for single-family or duplexes, you can capitalize on the zoning by building a set of duplexes to create multiple income streams. Large, useable lot with excellent street frontage and access. Whether you’re planning a renovation to flip or hold, or looking to develop duplexes for long-term cash flow, this property checks all the boxes. Bring your vision, plans, and contractor; opportunities like this don’t come around often!

Key facts

• Large lot
• Zoned for duplexes
• 0.28 acre lot

Tags

• LARGE LOT
• ZONED FOR DUPLEXES
• EXCELLENT STREET FRONTAGE
• MULTIPLE INCOME STREAMS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $66 ($793/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 $136k (8.9% below list).
• Recommended offer: $132k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.8% vs local median 3.6% in Tyler — 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 75/100 on livability (#147 in TX, #4,181 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, schools D+, crime D+.
• Tyler ISD (urban): math 39% / reading 38% proficiency, ranked #449 of 826 in TX (top 54%) — 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.
• Market conditions: Rents rising (+3.7%/yr); 327 active listings in the ZIP; 35 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 595 units permitted in Smith County in 2024 (45 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.
• Smith County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 150 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 60% chance of damaging wind over 30y; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $131,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 150 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 1949 — 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 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?
6. 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?
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: 0.91% ✗
• Cap rate: 6.82%
• Cash-on-cash: 1.89%
• DSCR: 1.08
• GRM: 9.2

CMA / ARV

• ARV (median comp): $168,897
• List price: $149,900
• Delta: -11.25%
• Verdict: UNDERPRICED
• Comps: 10 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1312 W Connally St	0.35mi	3/2.0	1,288 (+10%)	3mo	$185,000	$144	64
706 Lindsey Ln	0.53mi	2/1.0 (-1)	1,048 (-10%)	8mo	$149,950	$143	42

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 · 3.66% rent growth · sell at horizon

5-year hold

• IRR: -12.6%
• Equity multiple: 0.54×
• Total profit: $-19,163
• Equity at exit: $22,351

10-year hold

• IRR: -2.6%
• Equity multiple: 0.82×
• Total profit: $-7,449
• Equity at exit: $12,961

Cash invested: $41,972 (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 75701

• Rents YoY: 3.7%
• Active inventory: 327
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,365 high
• Mortgage (P&I): −$786
• Tax from tax record: −$164 /mo · $1,964/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$287
• Net cashflow: $66

Break-even live

Break-even rent $1,281

Max offer price $149,900

Occupancy floor 90%

Sensitivity live

Price	-10% $151	-5% $109	+0% $66	+5% $24	+10% $-19
Rent	-10% $-42	-5% $12	+0% $66	+5% $120	+10% $174
Rate	-1.0pp $142	-0.5pp $104	base $66	+0.5pp $27	+1.0pp $-12

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 35 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1500 Mockingbird Ln Tyler, TX	3.0	2.0	1090	$1,230	$1.13	44d	1	0.08mi
1523 W 2nd St Tyler, TX	2.0	1.0	810	$750	$0.93	14d	1	0.14mi
1216 S Glenwood Blvd Tyler, TX	2.0	1.0	808	$1,200	$1.49	14d	1	0.20mi
1011 W 2nd St Tyler, TX	2.0	1.0	840	$895	$1.07	44d	1	0.25mi
1215 S Lenox St Tyler, TX	3.0	2.0	1090	$1,264	$1.16	44d	1	0.42mi
902 W 5th St Tyler, TX	2.0	1.0	1369	$1,200	$0.88	14d	1	0.46mi
1655 S Kennedy Ave Tyler, TX	2.0	2.5	1174	$1,595	$1.36	44d	1	0.46mi
1655 S Kennedy Ave Unit 203 Tyler, TX	2.0	2.5	1174	$1,650	$1.41	44d	1	0.46mi
908 W 6th St Tyler, TX	2.0	1.0	1112	$1,300	$1.17	14d	1	0.48mi
1115 S Robertson Ave Tyler, TX	2.0	1.0	1366	$1,550	$1.13	14d	1	0.58mi
522 W Dobbs St Tyler, TX	3.0	1.0	1127	$1,395	$1.24	14d	1	0.64mi
507 W Shaw St Tyler, TX	2.0	1.0	1005	$1,250	$1.24	14d	1	0.64mi
328 Mockingbird Ln Tyler, TX	2.0	1.0	1200	$950	$0.79	14d	1	0.70mi
539 Williams Ct Tyler, TX	2.0	1.0	1352	$1,415	$1.05	21d	1	0.77mi
1224 S Azalea Dr Tyler, TX	3.0	1.0	1276	$1,300	$1.02	14d	1	0.87mi
526 S Bonner Ave Apt 4 Tyler, TX	2.0	1.0	1120	$1,175	$1.05	21d	1	0.87mi
1104 W Park St Tyler, TX	3.0	2.0	1440	$1,650	$1.15	21d	1	0.88mi
2717 W Shaw St Tyler, TX	2.0	1.0	985	$1,200	$1.22	21d	1	0.89mi
2803 W Shaw St Tyler, TX	2.0	1.0	900	$1,050	$1.17	21d	1	0.90mi
2815 W Shaw St Unit 2 Tyler, TX	2.0	1.0	875	$1,200	$1.37	44d	1	0.93mi
310 S Boon Ave Tyler, TX	2.0	1.0	819	$1,200	$1.47	44d	1	0.95mi
132 Rowland Pl Unit b Tyler, TX	2.0	1.0	1170	$1,295	$1.11	21d	1	1.03mi
305 E Lake St Tyler, TX	2.0	1.5	1287	$1,695	$1.32	14d	1	1.04mi
431 S College Ave Tyler, TX	2.0	1.0	1380	$1,750	$1.27	44d	1	1.07mi
431 S College Ave Tyler, TX	2.0	1.0	1380	$1,650	$1.20	21d	1	1.07mi
3111 W Jackson St Tyler, TX	3.0	2.0	1028	$1,564	$1.52	44d	1	1.11mi
420 E Dodge St Tyler, TX	3.0	2.0	940	$950	$1.01	14d	1	1.17mi
210 N Ross Ave Tyler, TX	2.0	1.0	850	$695	$0.82	21d	1	1.18mi
2302 Walton Rd Tyler, TX	3.0	2.0	1248	$1,600	$1.28	21d	1	1.27mi
1806 W Oakwood St Tyler, TX	2.0	1.0	900	$975	$1.08	21d	1	1.40mi
1800 W Oakwood St Tyler, TX	2.0	1.0	900	$975	$1.08	21d	1	1.40mi
2720 S Broadway Ave Tyler, TX	1.0–3.0	1.0–2.0	1064	$1,330	$1.25	14d	14	1.41mi
2908 Rhinehart St Tyler, TX	3.0	2.0	1000	$1,200	$1.20	14d	1	1.41mi
1822 W Oakwood St Tyler, TX	2.0	1.0	900	$1,100	$1.22	44d	1	1.41mi
2006 W Oakwood St Tyler, TX	3.0	2.0	1344	$1,895	$1.41	14d	1	1.43mi

Listing history 18 events

1. 2026-06-19
   days on market $149,900 Active 150 DOM
2. 2026-06-18
   days on market $149,900 Active 149 DOM
3. 2026-06-17
   days on market $149,900 Active 148 DOM
4. 2026-06-16
   days on market $149,900 Active 147 DOM
5. 2026-06-15
   days on market $149,900 Active 146 DOM
6. 2026-06-14
   days on market $149,900 Active 144 DOM
7. 2026-06-13
   days on market $149,900 Active 143 DOM
8. 2026-06-10
   days on market $149,900 Active 141 DOM
9. 2026-06-09
   days on market $149,900 Active 140 DOM
10. 2026-06-08
    days on market $149,900 Active 139 DOM
11. 2026-06-07
    days on market $149,900 Active 138 DOM
12. 2026-06-05
    days on market $149,900 Active 135 DOM
13. 2026-06-02
    days on market $149,900 Active 133 DOM
14. 2026-06-01
    days on market $149,900 Active 132 DOM
15. 2026-05-31
    days on market $149,900 Active 131 DOM
16. 2026-05-30
    days on market $149,900 Active 130 DOM
17. 2026-01-20
    listed $149,900 Active 585-char remark

    Show marketing remark (585 chars)

    This existing home on a large 12,000+ sq ft lot is perfect for a full renovation or a strategic tear-down to make way for new construction. Zoned for single-family or duplexes, you can capitalize on the zoning by building a set of duplexes to create multiple income streams. Large, useable lot with excellent street frontage and access. Whether you’re planning a renovation to flip or hold, or looking to develop duplexes for long-term cash flow, this property checks all the boxes. Bring your vision, plans, and contractor; opportunities like this don’t come around often!

18. 2024-10-24
    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: $1,964 · $164/mo
• Projected year-2 tax: $2,743 · $229/mo
• Expected delta: +$779/yr (+$65/mo · 39.7%)

ⓘ 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 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥109°F today · 26 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 60% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,379
• − Mortgage interest: −$8,397
• − Property taxes: −$1,964
• − Insurance: −$750
• − Repairs & maintenance: −$1,310
• − Management: −$1,310
• − Depreciation: −$4,361
• Taxable loss: −$1,712
• Est. tax savings @ 24.0%: +$411
• After-tax cash flow: $1,204/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: Tyler ISD
• NCES district ID: 4843470
• Math proficiency: 39% ▼ -4.00%
• Reading proficiency: 38% ▼ -1.00%
• Median HH income: $44,090
• Composite: 32.69/100
• National rank: #5650
• State rank: #449 of 826 in TX

Livability — Tyler

• Score: 75/100
• State rank: #147
• US rank: #4181

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tyler, TX
• County: Smith County · 180,570 people
• City population: 127,842
• Metro: Tyler, TX
• Population (ZIP): 36,344
• Household income: $66,401
• Rent vs Own: 40.0% rent · 60.0% own
• Severe rent burden: 1116.0

Population outlook (Smith County) Hauer SSP2

• Today (2025): 248,890 people
• By 2030: 261,665 · +5.1%
• By 2040: 286,114 · +15.0%
• By 2050: 308,006 · +23.8%
• By 2075: 354,171 · +42.3%
• By 2100: 372,828 · +49.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: White 53% Black 21% Hispanic / Latino 19% Two or more races 8% Asian 2%
• Hispanic origin (detail): Mexican 17%
• Common ancestry: Slovak 2% Italian 1% Lithuanian 1%
• Foreign-born: 8% · Canada
• Languages at home: 84% English-only · Spanish 14% Other Indo-European 1%

Political lean MEDSL · Smith

• 2024 margin: Solid R (+45.1) · D 27.0% · R 72.1%
• 2008→2024 swing: -5.6pp toward R · 2008: -39.5pp · 2024: -45.1pp
• All cycles: 2024: R+45.1 2020: R+39.4 2016: R+43.9 2012: R+46.9 2008: R+39.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -299.78%
• Current HPI: 207.238
• Rent YoY: ▲ 3.66%
• Metro: Tyler, TX
• 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

2 events — show timeline

• 2026-01-20 Listed $149,900 NTREIS
• 2024-10-24 Sold (Public Records) — Public Records

Property tax history

+7.8%/yr

Latest (2024): $1,964 · +17.1% YoY. Source: county tax records.