22 S Malone St · San Angelo, TX 76903

$194,000

5 bd · 3.0 ba · 2,774 sqft · SingleFamily public records · 11 Days on market

Built 1959 0.42 ac lot

---

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 +13.7/30.0
• ARV discount +7.5/15.0
• 1% rule +4.6/10.0
• Rent growth +4.6/5.0
• DSCR +4.1/10.0
• Livability +3.7/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Priced to make this your own Oasis!. This old property sits at the end of a Dead End street to the river. Sold strictly as is. No disclosures. All at this point is unknown. Either tear down and build your dream home, apartments, temp. living, or remodel and make your own touches turn this into your Oasis! Second floor is entered from steps in back yard at this time.

Key facts

• 0.42 acre lot
• 2 garage spots
• Built 1959

Property features AI

Exterior

• Parking: Has garage; 2-car garage; Driveway
• Security: Other security features
• Utilities: Public water; Public sewer; Electricity connected
• Home design: Single family residence; Two levels; Residential property; Fixer condition
• Construction: Composition roof; Other construction materials; Pillar/Post/Pier and slab foundation; Built on 0.43-acre lot
• Exterior features: Fenced (other); Waterfront lot; Paved city street frontage; Publicly maintained road

Interior

• Kitchen: Other appliances; Gas water heater
• Flooring: Other flooring
• Bathrooms: Three full bathrooms
• Heating & cooling: Has heating (other type); Has cooling (other type)
• Interior features: Other interior features
• Laundry & utility: Other laundry features

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath single-family listed at $194k.

Deal economics

• At list price, monthly cash flow is $14 ($169/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 $187k (3.8% below list).
• Recommended offer: $187k (3.8% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 3.8% in San Angelo — 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 73/100 on livability (#199 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, amenities F, commute F.
• San Angelo ISD (urban): math 27% / reading 33% proficiency, ranked #627 of 826 in TX (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: San Jacinto El (math 22% / reading 22%, grade F, #3,333 of 4,322 statewide, top 80%, 273 students, 89% FRL); Lone Star Middle (math 28% / reading 32%, grade F, #1,056 of 1,662 statewide, top 65%, 903 students, 63% FRL); Central H S (math 22% / reading 43%, grade F, #1,029 of 1,632 statewide, top 64%, 3,065 students, 48% FRL).
• Market conditions: Rents rising fast (+8.5%/yr); 227 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 233 units permitted in Tom Green County in 2024 (0 in 5+ unit buildings).
• At $1,866/mo this rent would consume 45% of the median local household income ($49k/yr) (locally 1255% 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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Tom Green County population projected at +35% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 6→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $186,559 (3.8% below list)

Questions for the listing agent

1. Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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?
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 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: 0.96% ✗
• Cap rate: 6.38%
• Cash-on-cash: 0.31%
• DSCR: 1.01
• GRM: 8.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -9.9%
• Equity multiple: 0.62×
• Total profit: $-20,578
• Equity at exit: $28,926

10-year hold

• IRR: 5.7%
• Equity multiple: 1.53×
• Total profit: $28,523
• Equity at exit: $16,774

Cash invested: $54,320 (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 76903

• Rents YoY: 8.5%
• Active inventory: 227
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,866 medium
• Mortgage (P&I): −$1,017
• Tax from tax record: −$362 /mo · $4,338/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$392
• Net cashflow: $14

Break-even live

Break-even rent $1,848

Max offer price $194,000

Occupancy floor 94%

Sensitivity live

Price	-10% $124	-5% $69	+0% $14	+5% $-41	+10% $-96
Rent	-10% $-133	-5% $-60	+0% $14	+5% $88	+10% $161
Rate	-1.0pp $112	-0.5pp $63	base $14	+0.5pp $-36	+1.0pp $-87

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: $48,500
• Closing costs: $5,820
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
728 Spencer St San Angelo, TX	4.0	2.0	1948	$1,995	$1.02	21d	1	0.79mi

Listing history 10 events

1. 2026-06-19
   days on market $194,000 Active 11 DOM
2. 2026-06-18
   days on market $194,000 Active 10 DOM
3. 2026-06-17
   days on market $194,000 Active 9 DOM
4. 2026-06-16
   days on market $194,000 Active 8 DOM
5. 2026-06-15
   days on market $194,000 Active 7 DOM
6. 2026-06-14
   days on market $194,000 Active 5 DOM
7. 2026-06-13
   days on market $194,000 Active 4 DOM
8. 2026-06-10
   days on market $194,000 Active 2 DOM
9. 2026-06-09
   remarks 368-char remark
10. 2026-06-09
    listed $194,000 Active 1 DOM

ⓘ 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: $4,338 · $362/mo
• Projected year-2 tax: $4,338 · $362/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 7/10 Severe 6 d/yr ≥104°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 14% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,387
• − Mortgage interest: −$10,867
• − Property taxes: −$4,338
• − Insurance: −$970
• − Repairs & maintenance: −$1,791
• − Management: −$1,791
• − Depreciation: −$5,644
• Taxable loss: −$3,014
• Est. tax savings @ 24.0%: +$723
• After-tax cash flow: $893/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: San Angelo ISD
• NCES district ID: 4838700
• Math proficiency: 27% ▼ -9.00%
• Reading proficiency: 33% ▼ -3.00%
• Median HH income: $43,501
• Composite: 25.56/100
• National rank: #7427
• State rank: #627 of 826 in TX

Livability — San Angelo

• Score: 73/100
• State rank: #199
• US rank: #5030

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: San Angelo, TX
• County: Tom Green County · 113,188 people
• City population: 81,357
• Metro: San Angelo, TX
• Population (ZIP): 29,947
• Household income: $49,498
• Rent vs Own: 39.8% rent · 60.2% own
• Severe rent burden: 1255.0

Population outlook (Tom Green County) Hauer SSP2

• Today (2025): 135,110 people
• By 2030: 144,090 · +6.6%
• By 2040: 162,561 · +20.3%
• By 2050: 182,158 · +34.8%
• By 2075: 232,274 · +71.9%
• By 2100: 268,218 · +98.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: Hispanic / Latino 56% White 36% Two or more races 26% Black 5%
• Hispanic origin (detail): Mexican 49% Puerto Rican 1%
• Common ancestry: Italian 1% Serbian 1% Slovak 1%
• Foreign-born: 10% · Canada
• Languages at home: 66% English-only · Spanish 33%

Political lean MEDSL · Tom Green

• 2024 margin: Solid R (+48.0) · D 25.5% · R 73.5% · Other 1.0%
• 2008→2024 swing: -6.3pp toward R · 2008: -41.7pp · 2024: -48.0pp
• All cycles: 2024: R+48.0 2020: R+44.4 2016: R+47.9 2012: R+47.9 2008: R+41.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -164.90%
• Current HPI: 217.0406
• Rent YoY: ▲ 8.46%
• Metro: San Angelo, 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

• 2026-06-08 Listed $194,000 SAAR TX
• 2008-02-14 Sold (Public Records) — Public Records

Property tax history

+7.1%/yr

Latest (2025): $4,338 · +26.0% YoY. Source: county tax records.