510 W 12th · Plainview, TX 79072

$142,500

6 bd · 3.0 ba · 3,592 sqft · MultiFamily · 136 Days on market

Built 1960 Good condition 609 sqft lot ↓ 1% 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
• Condition / age +4.0/5.0
• Livability +3.5/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Great investment opportunity featuring three income-producing properties! Each unit is move-in ready for tenants, allowing buyers to start generating income immediately. A fantastic addition to any investment portfolio. Six Total Bedrooms!

Key facts

• 2 garage spots
• Built 1960
• Listed 136 days

What this means for you Summary

Snapshot

• This is a 6-bed/3.0-bath multifamily listed at $142k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $142k).
• Recommended offer: $125k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 69/100 on livability (#393 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools C-, crime C-, health & safety C-.
• Plainview ISD (town): math 41% / reading 37% proficiency, ranked #445 of 826 in TX (top 54%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 69% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 150 active listings in the ZIP; 13 units permitted in Hale County in 2024 (0 in 5+ unit buildings).
• At $2,799/mo this rent would consume 71% of the median local household income ($47k/yr) (locally 1015% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $985 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Hale County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $40k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 136 days — a 12% lower offer ($125k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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

• Climate carrying-cost: extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $125,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 136 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 1960 — 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. 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.
6. 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.
7. 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: 1.96% ✓
• Cap rate: 16.62%
• Cash-on-cash: 36.88%
• DSCR: 2.64
• GRM: 4.2

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: 32.8%
• Equity multiple: 2.38×
• Total profit: $55,063
• Equity at exit: $21,247

10-year hold

• IRR: 39.8%
• Equity multiple: 4.73×
• Total profit: $148,700
• Equity at exit: $12,321

Cash invested: $39,900 (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 79072

• Active inventory: 150
• Price-to-rent: 12.7×

Monthly cashflow live

• Estimated rent: $2,799 medium
• Mortgage (P&I): −$747
• Tax est. 1.5%: −$178 /mo · $2,138/yr
• Insurance: −$59
• HOA: −$0
• Vacancy / Maint / Mgmt: −$588
• Net cashflow: $1,226

Break-even live

Break-even rent $1,247

Max offer price $142,500

Occupancy floor 51%

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$2,799
Total (3 units)			$2,799

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: $35,625
• Closing costs: $4,275
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-13
   status $142,500 Pending 136 DOM
2. 2026-06-12
   days on market $142,500 Active 136 DOM
3. 2026-06-09
   days on market $142,500 Active 133 DOM
4. 2026-06-08
   days on market $142,500 Active 132 DOM
5. 2026-06-07
   days on market $142,500 Active 131 DOM
6. 2026-06-07
   days on market $142,500 Active 130 DOM
7. 2026-06-03
   days on market $142,500 Active 127 DOM
8. 2026-06-02
   days on market $142,500 Active 126 DOM
9. 2026-06-01
   days on market $142,500 Active 125 DOM
10. 2026-05-31
    days on market $142,500 Active 124 DOM
11. 2026-05-30
    days on market $142,500 Active 123 DOM
12. 2026-01-23
    price $142,500 239-char remark

    Show marketing remark (239 chars)

    Great investment opportunity featuring three income-producing properties! Each unit is move-in ready for tenants, allowing buyers to start generating income immediately. A fantastic addition to any investment portfolio. Six Total Bedrooms!

13. 2026-01-06
    listed $142,500 Active 239-char remark

    Show marketing remark (239 chars)

    Great investment opportunity featuring three income-producing properties! Each unit is move-in ready for tenants, allowing buyers to start generating income immediately. A fantastic addition to any investment portfolio. Six Total Bedrooms!

14. 2025-12-30
    listed $144,500 Active 239-char remark

    Show marketing remark (239 chars)

    Great investment opportunity featuring three income-producing properties! Each unit is move-in ready for tenants, allowing buyers to start generating income immediately. A fantastic addition to any investment portfolio. Six Total Bedrooms!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥99°F today · 22 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,588
• − Mortgage interest: −$7,982
• − Property taxes: −$2,138
• − Insurance: −$712
• − Repairs & maintenance: −$2,687
• − Management: −$2,687
• − Depreciation: −$4,145
• Taxable income: $13,236
• Est. tax owed @ 24.0%: −$3,177
• After-tax cash flow: $11,540/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 · 12 photos

Good 80/100 Cosmetic rehab

This multi-family property is move-in ready with good condition and minimal maintenance required. It offers a great investment opportunity with potential for value enhancement through minor updates.

Value-add opportunities

• Both Painting exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics.
• Both Landscaping improvements — Enhances curb appeal and can attract more tenants/investors.
• Both HVAC maintenance — Ensures comfort and energy efficiency, attracting more tenants/investors.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics. ↑
• Both Landscaping improvements — Enhances curb appeal and can attract more tenants/investors. ↑
• Both HVAC maintenance — Ensures comfort and energy efficiency, attracting more tenants/investors. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Plainview ISD
• NCES district ID: 4835070
• Math proficiency: 41% ▼ -3.00%
• Reading proficiency: 37% ▲ 1.00%
• Median HH income: $41,146
• Composite: 32.85/100
• National rank: #5615
• State rank: #445 of 826 in TX

Livability — Plainview

• Score: 69/100
• State rank: #393
• US rank: #8233

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Plainview, TX
• County: Hale County · 25,389 people
• City population: 25,389
• Metro: Plainview, TX
• Population (ZIP): 25,389
• Household income: $47,255
• Rent vs Own: 43.6% rent · 56.4% own
• Severe rent burden: 1015.0

Population outlook (Hale County) Hauer SSP2

• Today (2025): 30,851 people
• By 2030: 29,158 · -5.5%
• By 2040: 25,681 · -16.8%
• By 2050: 22,420 · -27.3%
• By 2075: 15,857 · -48.6%
• By 2100: 10,500 · -66.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Hispanic (63%)
• Race & ethnicity: Hispanic / Latino 63% White 29% Two or more races 19% Black 4% Native American 2%
• Hispanic origin (detail): Mexican 52%
• Common ancestry: Italian 1% Russian 1% Lithuanian 1%
• Foreign-born: 11% · Canada, Jamaica
• Languages at home: 63% English-only · Spanish 36%

Political lean MEDSL · Hale

• 2024 margin: Solid R (+58.0) · D 20.5% · R 78.5%
• 2008→2024 swing: -13.1pp toward R · 2008: -44.9pp · 2024: -58.0pp
• All cycles: 2024: R+58.0 2020: R+51.1 2016: R+48.4 2012: R+47.8 2008: R+44.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -120.38%
• Current HPI: 127.9276
• Rent YoY: —
• Metro: Plainview, 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

-1.4% since first listed

3 events — show timeline

• 2026-01-23 Price Changed $142,500 PARMLS
• 2026-01-06 Listed $142,500 LARMLS
• 2025-12-30 Listed $144,500 PARMLS