165 County Road 2359 · Hardin, TX 77575

$209,500

3 bd · 1.0 ba · 1,368 sqft · SingleFamily public records · 36 Days on market

Built 1950 0.50 ac lot $153/sqft · 15% below area Est $245k · 15% under ↓ 7% since listing

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Why this score? — see what drove the D 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).

• ARV discount +14.1/15.0
• Cash flow +9.6/30.0
• Schools +3.6/10.0
• Livability +3.0/5.0
• 1% rule +2.8/10.0
• DSCR +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Step back into charm and character in this cute 3-bedroom vintage home sitting on 1/2 acre. This home features a whole house generator, wood floors, a cozy vintage style kitchen, and all the old-home charm you have been looking for. Enjoy your mornings or evenings on the large, covered back porch overlooking green open space!

Key facts

• Covered porch
• 0.5 acre lot
• Garage

Tags

• WHOLE HOUSE GENERATOR
• COVERED PORCH

Property features AI

Finance

• Other: Lot is approximately 0.5 acre with asphalt road access

Exterior

• Parking: Attached garage (1 car); Attached carport (2 spaces)
• Utilities: Public water; Septic tank sewer
• Home design: Residential property; Built in 1950; Single-story (entry level: 1); Facing direction not specified
• Construction: Wood siding; Composition roof; Pillar/post/pier foundation
• Exterior features: Deck; Fence (back yard); Porch; Patio; Private yard; Storage shed(s)

Interior

• Kitchen: Gas cooktop
• Bathrooms: 2 full bathrooms
• Heating & cooling: Propane heating; Central electric air conditioning
• Interior features: Laminate counters; Tub with shower; Accessible approach with ramp; 7 total rooms
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $210k.

Deal economics

• At list price, monthly cash flow is $-143 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $184k (12.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $163k (22.3% below list).
• Recommended offer: $163k (22.3% below list) — sets the bar for 1% rule.
• Cap rate 5.5% vs local median 3.1% in Hardin — 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 59/100 on livability (#1,134 in TX) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Hardin ISD (rural): math 39% / reading 44% proficiency, ranked #354 of 826 in TX (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Hardin H S (math 67% / reading 57%, grade B-, #237 of 1,632 statewide, top 16%, 394 students, 57% FRL) — zoned schools at 57% FRL track the district average.
• Zoned-school proficiency averages 62% at this address vs 42% district-wide (+20 pts) — the actual schools serving this property are materially stronger than the Hardin ISD average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 222 active listings in the ZIP; 1,321 units permitted in Liberty 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 $6k of value loss. Plan a longer hold.
• Liberty 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 36 days — a 3% lower offer ($203k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $162,742 (22.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
3. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 F 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.78% ✗
• Cap rate: 5.48%
• Cash-on-cash: -2.92%
• DSCR: 0.87
• GRM: 10.7

CMA / ARV

• ARV (median comp): $245,225
• List price: $209,500
• Delta: -14.57%
• Verdict: UNDERPRICED
• Comps: 14 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
398 County Road 2360	0.25mi	3/2.0	1,476 (+8%)	13mo	$124,000	$84	60
10182 Highway 146 N	0.72mi	3/2.0	1,348 (-2%)	2mo	$325,000	$241	58
284 County Road 2003 South S	0.29mi	3/3.0	1,527 (+12%)	3mo	$245,000	$160	57
174 County Road 2363 E	0.33mi	3/1.5	1,540 (+13%)	16mo	$250,000	$162	48
568 County Road 2016	0.58mi	3/2.0	1,444 (+6%)	24mo	$239,900	$166	40

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -21.2%
• Equity multiple: 0.27×
• Total profit: $-43,013
• Equity at exit: $31,237

10-year hold

• IRR: -14.6%
• Equity multiple: 0.16×
• Total profit: $-49,094
• Equity at exit: $18,114

Cash invested: $58,660 (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 77575

• Home prices YoY: -26.6%
• Active inventory: 222
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $1,627 medium
• Mortgage (P&I): −$1,099
• Tax from tax record: −$242 /mo · $2,907/yr
• Insurance: −$87
• HOA: −$0
• Vacancy / Maint / Mgmt: −$342
• Net cashflow: $-143

Break-even live

Break-even rent $1,808

Max offer price $184,322

Occupancy floor —

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: $52,375
• Closing costs: $6,285
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-18
   days on market $209,500 Active 36 DOM
2. 2026-06-17
   days on market $209,500 Active 35 DOM
3. 2026-06-16
   days on market $209,500 Active 34 DOM
4. 2026-06-15
   days on market $209,500 Active 33 DOM
5. 2026-06-13
   days on market $209,500 Active 31 DOM
6. 2026-06-09
   days on market $209,500 Active 27 DOM
7. 2026-06-08
   days on market $209,500 Active 26 DOM
8. 2026-06-07
   days on market $209,500 Active 25 DOM
9. 2026-06-04
   days on market $209,500 Active 22 DOM
10. 2026-06-03
    days on market $209,500 Active 21 DOM
11. 2026-06-02
    days on market $209,500 Active 20 DOM
12. 2026-06-01
    days on market $209,500 Active 19 DOM
13. 2026-05-31
    days on market $209,500 Active 18 DOM
14. 2026-05-13
    listed $224,500 Active 316-char remark

ⓘ 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: $2,907 · $242/mo
• Projected year-2 tax: $3,834 · $319/mo
• Expected delta: +$927/yr (+$77/mo · 31.9%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥112°F today · 24 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% 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: $19,529
• − Mortgage interest: −$11,735
• − Property taxes: −$2,907
• − Insurance: −$1,048
• − Repairs & maintenance: −$1,562
• − Management: −$1,562
• − Depreciation: −$6,095
• Taxable loss: −$5,380
• Est. tax savings @ 24.0%: +$1,291
• After-tax cash flow: $-419/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: Hardin ISD
• NCES district ID: 4822380
• Math proficiency: 39% ▲ 1.00%
• Reading proficiency: 44% ▲ 6.00%
• Median HH income: $48,099
• Composite: 35.54/100
• National rank: #4907
• State rank: #354 of 826 in TX

Livability — Hardin

• Score: 59/100
• State rank: #1134
• US rank: #20029

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hardin, TX
• Population (ZIP): 16,617

Population outlook (Liberty County) Hauer SSP2

• Today (2025): 87,956 people
• By 2030: 92,161 · +4.8%
• By 2040: 100,784 · +14.6%
• By 2050: 109,471 · +24.5%
• By 2075: 133,470 · +51.7%
• By 2100: 147,372 · +67.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 56% Hispanic / Latino 25% Black 12% Two or more races 11%
• Hispanic origin (detail): Mexican 24%
• Common ancestry: Lithuanian 4% Serbian 2% Slovak 2%
• Foreign-born: 12% · Canada
• Languages at home: 80% English-only · Spanish 19% Other Asian/Pacific 1%

Political lean MEDSL · Liberty

• 2024 margin: Solid R (+61.6) · D 19.0% · R 80.6%
• 2008→2024 swing: -17.9pp toward R · 2008: -43.7pp · 2024: -61.6pp
• All cycles: 2024: R+61.6 2020: R+59.7 2016: R+58.0 2012: R+53.3 2008: R+43.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -74.17%
• Current HPI: 204.9372
• 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

-6.7% since first listed

2 events — show timeline

• 2026-05-28 Price Changed $209,500 HARMLS
• 2026-05-13 Listed $224,500 HARMLS

Property tax history

+7.0%/yr

Latest (2025): $2,907 · +4.0% YoY. Source: county tax records.