609 N Mlk Ave · Wortham, TX 76693

$53,349

2 bd · 1.5 ba · 1,246 sqft · SingleFamily public records · 372 Days on market

Built 1955 6,534 sqft lot $43/sqft · 48% below area Est $103k · 48% under

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Why this score? — see what drove the A- 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +5.6/10.0
• Schools +3.0/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

FIXER UPPER! This two bedroom home needs some repairs, but it is located on a large lot and has great potential. It is located on a spacious 10,976 sq. ft. lot in Wortham which is just north of Waco, TX with easy access to nearby cities. WE MAKE IT EASY TO OWN. This is a great opportunity! Don't wait, call us today to get more information on the owner's easy terms and smooth process that may be able to put the deed in your name and make this your dream home.

Key facts

• Large lot
• Spacious lot
• 6,534 sq ft lot

Tags

• LARGE LOT
• SPACIOUS LOT

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $53k.

Deal economics

• At list price, monthly cash flow is $448 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $53k).
• Recommended offer: $47k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 59/100 on livability (#1,128 in TX) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A-; Watch: crime C-, schools D+, amenities F.
• Wortham ISD (rural): math 34% / reading 37% proficiency, ranked #523 of 826 in TX (top 63%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 45 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 $983 of equity ($369 loan paydown + $614 appreciation (1.1% 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 (1.1% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 372 days — a 12% lower offer ($47k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 66% 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 $46,947 (12.0% below list)

Questions for the listing agent

1. It's been on market 372 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 1955 — 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. 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.
7. 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.
8. 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: 1.94% ✓
• Cap rate: 16.38%
• Cash-on-cash: 36.02%
• DSCR: 2.60
• GRM: 4.3

CMA / ARV

• ARV (median comp): $102,545
• List price: $53,349
• Delta: -47.97%
• Verdict: UNDERPRICED
• Comps: 16 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
311 E San Saba St	0.34mi	3/1.0 (+1)	1,352 (+8%)	3mo	$59,000	$44	61
103 S Avenue D	0.46mi	3/2.0 (+1)	1,216 (-2%)	18mo	$79,900	$66	52
501 S Avenue B	0.69mi	2/2.0	1,312 (+5%)	12mo	$269,900	$206	47
407 W Comal	0.36mi	3/2.0 (+1)	1,412 (+13%)	12mo	$74,900	$53	44

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

Projected returns pro-forma

1.15% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 38.7%
• Equity multiple: 3.01×
• Total profit: $29,966
• Equity at exit: $18,631

10-year hold

• IRR: 40.6%
• Equity multiple: 5.92×
• Total profit: $73,437
• Equity at exit: $25,086

Cash invested: $14,938 (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 76693

• Home prices YoY: 0.7%
• Active inventory: 45
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $1,034 medium
• Mortgage (P&I): −$280
• Tax est. 1.5%: −$67 /mo · $800/yr
• Insurance: −$22
• HOA: −$0
• Vacancy / Maint / Mgmt: −$217
• Net cashflow: $448

Break-even live

Break-even rent $467

Max offer price $53,349

Occupancy floor 52%

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: $13,337
• Closing costs: $1,600
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $53,349 Active 372 DOM
2. 2026-06-17
   days on market $53,349 Active 371 DOM
3. 2026-06-16
   days on market $53,349 Active 370 DOM
4. 2026-06-15
   days on market $53,349 Active 369 DOM
5. 2026-06-15
   days on market $53,349 Active 368 DOM
6. 2026-06-13
   days on market $53,349 Active 367 DOM
7. 2026-06-12
   days on market $53,349 Active 366 DOM
8. 2026-06-09
   days on market $53,349 Active 363 DOM
9. 2026-06-08
   days on market $53,349 Active 362 DOM
10. 2026-06-08
    days on market $53,349 Active 361 DOM
11. 2026-06-05
    days on market $53,349 Active 359 DOM
12. 2026-06-03
    days on market $53,349 Active 357 DOM
13. 2026-06-02
    days on market $53,349 Active 356 DOM
14. 2026-06-01
    days on market $53,349 Active 355 DOM
15. 2026-05-31
    days on market $53,349 Active 354 DOM
16. 2025-06-11
    listed $53,349 Active 464-char remark

    Show marketing remark (464 chars)

    FIXER UPPER! This two bedroom home needs some repairs, but it is located on a large lot and has great potential. It is located on a spacious 10,976 sq. ft. lot in Wortham which is just north of Waco, TX with easy access to nearby cities. WE MAKE IT EASY TO OWN. This is a great opportunity! Don't wait, call us today to get more information on the owner's easy terms and smooth process that may be able to put the deed in your name and make this your dream home.

17. 1986-03-31
    soldstatus
18. 1984-04-16
    soldstatus

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 23 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 66% 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: $12,411
• − Mortgage interest: −$2,988
• − Property taxes: −$800
• − Insurance: −$267
• − Repairs & maintenance: −$993
• − Management: −$993
• − Depreciation: −$1,552
• Taxable income: $4,818
• Est. tax owed @ 24.0%: −$1,156
• After-tax cash flow: $4,224/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: Wortham ISD
• NCES district ID: 4846470
• Math proficiency: 34% ▼ -11.00%
• Reading proficiency: 37% ▼ -3.00%
• Median HH income: $39,554
• Composite: 29.76/100
• National rank: #6437
• State rank: #523 of 826 in TX

Livability — Wortham

• Score: 59/100
• State rank: #1128
• US rank: #19935

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wortham, TX
• Population (ZIP): 1,966

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 0.62)
• Race & ethnicity: White 56% Two or more races 19% Hispanic / Latino 18% Black 17%
• Hispanic origin (detail): Mexican 17%
• Common ancestry: Lithuanian 13% Serbian 6% Slovak 6%
• Foreign-born: 4% · Canada
• Languages at home: 92% English-only · Spanish 8%

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: ▲ 1.15%
• Current HPI: 173.19
• 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

3 events — show timeline

• 2025-06-11 Listed $53,349 HARMLS
• 1986-03-31 Sold (Public Records) — Public Records
• 1984-04-16 Sold (Public Records) — Public Records

Property tax history

-16.1%/yr

Latest (2025): $40 · -88.1% YoY. Source: county tax records.