415 N Azalea St · Booker, TX 79005

$149,500

3 bd · 2.0 ba · 1,312 sqft · SingleFamily · 73 Days on market

Built 1979 10,500 sqft lot

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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).

• Cash flow +7.9/30.0
• ARV discount +7.5/15.0
• Appreciation +6.6/10.0
• Schools +5.2/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• DSCR +2.0/10.0

Listing remarks MLS

Super nice home with open floor plan between kitchen, dining and living room. Updated kitchen with granite countertops, cherry wood cabinets. Large covered patio, backs up to the golf course. Nice location, cul de sac.

Key facts

• Open floor plan
• Cherry wood cabinets
• Large covered patio

Tags

• OPEN FLOOR PLAN
• UPDATED KITCHEN
• GRANITE COUNTERTOPS
• CHERRY WOOD CABINETS
• LARGE COVERED PATIO
• BACKS UP TO GOLF COURSE

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 $-158 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $127k (15.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $111k (25.9% below list).
• Recommended offer: $111k (25.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 69/100 on livability (#394 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: schools C-, health & safety C-, amenities F.
• Booker ISD (rural): math 69% / reading 48% proficiency, ranked #146 of 1,141 in TX (top 13%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 7 active listings in the ZIP.

Forward outlook

• In year one you build about $6k of equity ($1k loan paydown + $5k appreciation (3.3% local appreciation)).
• Lipscomb County population projected at +27% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 6, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 73 days — a 6% lower offer ($141k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 6→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $110,783 (25.9% 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 73 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
3. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
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: 0.74% ✗
• Cap rate: 5.02%
• Cash-on-cash: -4.53%
• DSCR: 0.80
• GRM: 11.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.28% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 4.2%
• Equity multiple: 1.24×
• Total profit: $10,194
• Equity at exit: $69,594

10-year hold

• IRR: 7.3%
• Equity multiple: 2.14×
• Total profit: $47,705
• Equity at exit: $109,134

Cash invested: $41,860 (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 79005

• Home prices YoY: 4.1%
• Active inventory: 7
• Price-to-rent: 11.2×

Monthly cashflow live

• Estimated rent: $1,108 medium
• Mortgage (P&I): −$784
• Tax est. 1.5%: −$187 /mo · $2,242/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$233
• Net cashflow: $-158

Break-even live

Break-even rent $1,308

Max offer price $126,641

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: $37,375
• Closing costs: $4,485
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   status $149,500 Pending 73 DOM
2. 2026-06-18
   days on market $149,500 Active 73 DOM
3. 2026-06-17
   days on market $149,500 Active 72 DOM
4. 2026-06-16
   days on market $149,500 Active 71 DOM
5. 2026-06-15
   days on market $149,500 Active 70 DOM
6. 2026-06-13
   days on market $149,500 Active 68 DOM
7. 2026-06-12
   days on market $149,500 Active 67 DOM
8. 2026-06-09
   days on market $149,500 Active 64 DOM
9. 2026-06-08
   days on market $149,500 Active 63 DOM
10. 2026-06-08
    days on market $149,500 Active 62 DOM
11. 2026-06-07
    days on market $149,500 Active 61 DOM
12. 2026-06-03
    days on market $149,500 Active 58 DOM
13. 2026-06-02
    days on market $149,500 Active 57 DOM
14. 2026-06-01
    days on market $149,500 Active 56 DOM
15. 2026-05-31
    days on market $149,500 Active 55 DOM
16. 2026-04-06
    listed $149,500 Active 218-char remark

    Show marketing remark (218 chars)

    Super nice home with open floor plan between kitchen, dining and living room. Updated kitchen with granite countertops, cherry wood cabinets. Large covered patio, backs up to the golf course. Nice location, cul de sac.

ⓘ 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 0% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 5/10 Major 6 d/yr ≥101°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,294
• − Mortgage interest: −$8,374
• − Property taxes: −$2,242
• − Insurance: −$748
• − Repairs & maintenance: −$1,064
• − Management: −$1,064
• − Depreciation: −$4,349
• Taxable loss: −$4,546
• Est. tax savings @ 24.0%: +$1,091
• After-tax cash flow: $-805/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: Booker ISD
• NCES district ID: 4810830
• Math proficiency: 69% ▲ 9.00%
• Reading proficiency: 48% ▲ 3.00%
• Median HH income: $58,274
• Composite: 52.33/100
• National rank: #3433
• State rank: #146 of 1141 in TX

Livability — Booker

• Score: 69/100
• State rank: #394
• US rank: #8240

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Booker, TX
• Population (ZIP): 1,519

Population outlook (Lipscomb County) Hauer SSP2

• Today (2025): 4,045 people
• By 2030: 4,275 · +5.7%
• By 2040: 4,723 · +16.8%
• By 2050: 5,121 · +26.6%
• By 2075: 5,959 · +47.3%
• By 2100: 6,040 · +49.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Hispanic (57%)
• Race & ethnicity: Hispanic / Latino 57% White 38% Two or more races 16%
• Hispanic origin (detail): Mexican 47%
• Common ancestry: Serbian 2% Italian 1% Slovak 1%
• Foreign-born: 25% · Canada
• Languages at home: 49% English-only · Spanish 49% Tagalog/Filipino 1%

Political lean MEDSL · Lipscomb

• 2024 margin: Solid R (+79.6) · D 9.8% · R 89.4%
• 2008→2024 swing: -4.9pp toward R · 2008: -74.7pp · 2024: -79.6pp
• All cycles: 2024: R+79.6 2020: R+79.4 2016: R+77.5 2012: R+79.2 2008: R+74.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.28%
• Current HPI: 82.747
• 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

1 event — show timeline

• 2026-04-06 Listed $149,500 AARMLS