2301 An County Road 2209 · Palestine, TX 75803

$125,000

4 bd · 2.0 ba · 1,358 sqft · SingleFamily public records · 338 Days on market

Built 1982 Fair condition 0.50 ac lot $92/sqft · 39% below area Est $206k · 39% under

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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 +28.8/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.7/10.0
• Livability +3.3/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover comfort and space in this well maintained 4 bed 2 bath manufactured home, ideally situated on a peaceful corner lot. Sitting on nearly half an acre, this property offers room for gardening, outdoor activities or simply enjoying the quiet surrounding. Home has been updated with 3 panel windows, HAVAC system installed April 2023 and hot water heater replaced in 2022 along with the roof. A storage shed out back provides additional room for storage. Come check this one out.

Key facts

• Hot water heater
• Storage shed
• Corner lot

Tags

• CORNER LOT
• HALF AN ACRE
• 3 PANEL WINDOWS
• HAVAC SYSTEM
• HOT WATER HEATER
• STORAGE SHED

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $125k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $422 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $110k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.3% vs local median 3.8% in Palestine — 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 66/100 on livability (#657 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D+, employment D, amenities F.
• Westwood ISD (town): math 28% / reading 29% proficiency, ranked #659 of 826 in TX (top 80%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Westwood El (math 24% / reading 25%, grade F, #3,052 of 4,322 statewide, top 74%, 408 students, 74% FRL); Westwood J H (math 42% / reading 37%, grade F, #660 of 1,662 statewide, top 41%, 205 students, 77% FRL); Westwood H S (math 22% / reading 32%, grade F, #1,204 of 1,632 statewide, top 75%, 438 students, 69% FRL) — zoned schools average 73% FRL vs 56% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 166 active listings in the ZIP; 29 units permitted in Anderson County in 2024 (0 in 5+ unit buildings).
• This rent runs 32% of the median local income ($60k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Anderson County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 338 days — a 12% lower offer ($110k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y ago; this cycle's ask has dropped $14k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 69% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $110,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 338 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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. Crime grade is D 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. 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: 1.27% ✓
• Cap rate: 10.34%
• Cash-on-cash: 14.46%
• DSCR: 1.64
• GRM: 6.6

CMA / ARV

• ARV (median comp): $206,304
• List price: $125,000
• Delta: -39.41%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
194 An County Road 2209	0.06mi	3/2.0 (-1)	1,440 (+6%)	16mo	$210,000	$146	69
475 An County Rd. 2236	2.08mi	3/2.0 (-1)	1,178 (-13%)	2mo	$225,000	$191	36
300 Word Dr	2.17mi	2/2.0 (-2)	1,595 (+18%)	48mo	$179,900	$113	10

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: 4.9%
• Equity multiple: 1.19×
• Total profit: $6,610
• Equity at exit: $18,638

10-year hold

• IRR: 14.3%
• Equity multiple: 2.15×
• Total profit: $40,365
• Equity at exit: $10,808

Cash invested: $35,000 (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 75803

• Home prices YoY: -34.0%
• Active inventory: 166
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,589 medium
• Mortgage (P&I): −$656
• Tax from tax record: −$126 /mo · $1,510/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$334
• Net cashflow: $422

Break-even live

Break-even rent $1,055

Max offer price $125,000

Occupancy floor 68%

Sensitivity live

Price	-10% $492	-5% $457	+0% $422	+5% $386	+10% $351
Rent	-10% $296	-5% $359	+0% $422	+5% $484	+10% $547
Rate	-1.0pp $485	-0.5pp $454	base $422	+0.5pp $389	+1.0pp $356

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: $31,250
• Closing costs: $3,750
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-08-08
   days on market $125,000 Active 338 DOM
2. 2026-08-07
   days on market $125,000 Active 337 DOM
3. 2026-08-06
   days on market $125,000 Active 336 DOM
4. 2026-08-05
   days on market $125,000 Active 335 DOM
5. 2026-08-04
   days on market $125,000 Active 334 DOM
6. 2026-08-03
   days on market $125,000 Active 333 DOM
7. 2026-07-31
   days on market $125,000 Active 330 DOM
8. 2026-07-30
   days on market $125,000 Active 329 DOM
9. 2026-07-29
   days on market $125,000 Active 328 DOM
10. 2026-07-27
    days on market $125,000 Active 326 DOM
11. 2026-07-25
    days on market $125,000 Active 324 DOM
12. 2026-07-24
    days on market $125,000 Active 323 DOM
13. 2026-07-23
    days on market $125,000 Active 322 DOM
14. 2026-07-22
    days on market $125,000 Active 321 DOM
15. 2026-07-21
    days on market $125,000 Active 320 DOM
16. 2026-07-18
    days on market $125,000 Active 317 DOM
17. 2026-07-17
    days on market $125,000 Active 315 DOM
18. 2026-07-15
    days on market $125,000 Active 314 DOM
19. 2026-07-14
    days on market $125,000 Active 313 DOM
20. 2026-07-13
    days on market $125,000 Active 312 DOM
21. 2026-07-12
    days on market $125,000 Active 311 DOM
22. 2026-07-12
    days on market $125,000 Active 310 DOM
23. 2026-07-11
    days on market $125,000 Active 309 DOM
24. 2026-07-09
    days on market $125,000 Active 308 DOM
25. 2026-07-09
    days on market $125,000 Active 307 DOM
26. 2026-07-07
    days on market $125,000 Active 306 DOM
27. 2026-07-06
    days on market $125,000 Active 305 DOM
28. 2026-07-05
    days on market $125,000 Active 304 DOM
29. 2026-07-04
    days on market $125,000 Active 303 DOM
30. 2026-07-03
    days on market $125,000 Active 302 DOM
31. 2026-07-03
    pricedays on market $125,000 Active 301 DOM
32. 2026-07-01
    days on market $130,000 Active 300 DOM
33. 2026-06-30
    days on market $130,000 Active 299 DOM
34. 2026-06-29
    days on market $130,000 Active 298 DOM
35. 2026-06-28
    days on market $130,000 Active 297 DOM
36. 2026-06-27
    days on market $130,000 Active 296 DOM
37. 2026-06-26
    days on market $130,000 Active 294 DOM
38. 2026-06-22
    days on market $130,000 Active 291 DOM
39. 2026-06-21
    days on market $130,000 Active 290 DOM
40. 2026-06-19
    days on market $130,000 Active 288 DOM
41. 2026-06-18
    days on market $130,000 Active 287 DOM
42. 2026-06-17
    days on market $130,000 Active 286 DOM
43. 2026-06-16
    days on market $130,000 Active 285 DOM
44. 2026-06-15
    days on market $130,000 Active 284 DOM
45. 2026-06-14
    days on market $130,000 Active 282 DOM
46. 2026-06-12
    days on market $130,000 Active 281 DOM
47. 2026-06-09
    days on market $130,000 Active 278 DOM
48. 2026-06-08
    days on market $130,000 Active 277 DOM
49. 2026-06-07
    days on market $130,000 Active 276 DOM
50. 2026-06-07
    days on market $130,000 Active 275 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: $1,510 · $126/mo
• Projected year-2 tax: $2,288 · $191/mo
• Expected delta: +$778/yr (+$65/mo · 51.5%)

ⓘ 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 7 d/yr ≥110°F today · 25 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 69% 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: $19,065
• − Mortgage interest: −$7,002
• − Property taxes: −$1,510
• − Insurance: −$625
• − Repairs & maintenance: −$1,525
• − Management: −$1,525
• − Depreciation: −$3,636
• Taxable income: $3,242
• Est. tax owed @ 24.0%: −$778
• After-tax cash flow: $4,283/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 · 9 photos

Fair 45/100 Moderate rehab Est. rehab $33,950–$61,110 screening

This home requires significant repairs and updates to its exterior and interior, including a new roof, fresh paint, and new flooring. While the HVAC and hot water heater are recent updates, the overall condition is fair and could be improved with moderate renovations.

Repairs flagged

• Major roof — Significant damage and potential leaks.
• Major siding — Peeling and chipping paint.
• Major flooring — Worn and in need of replacement.
• Major interior walls/paint — Wear and discoloration.
• Minor bathroom fixtures — Basic fixtures, could be updated for a fresh look.

Value-add opportunities

• Both paint job — Fresh paint can improve the home's curb appeal and interior aesthetics. ↑
• Both roof repair — A new roof will prevent leaks and improve the home's overall condition. ↑
• Both flooring replacement — New flooring will enhance the living space and increase the home's value. ↑
• Both interior wall and ceiling paint — Fresh paint will improve the home's appearance and make it more appealing to potential buyers or renters. ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 27/100

Zoned Schools

Elementary Westwood Pri High Westwood H S F TX #1,204/1,632 Nat'l #11,887/17,239

Schools (NCES district)

• District: Westwood ISD
• NCES district ID: 4843290
• Math proficiency: 28% ▼ -8.00%
• Reading proficiency: 29% ▼ -5.00%
• Median HH income: $44,200
• Composite: 24.41/100
• National rank: #7684
• State rank: #659 of 826 in TX

C Composite livability gradescore 66/100

Livability — Palestine

• Score: 66/100
• State rank: #657
• US rank: #12357

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Anderson · 56,663 people
• City population: 17,531
• Population (ZIP): 21,390
• Household income: $59,947
• Rent vs Own: 26.4% rent · 73.6% own
• Severe rent burden: 8% of renters

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Population outlook (Anderson County) Hauer SSP2

• Today (2025): 56,663 people
• By 2030: 57,373 · +1.3%
• By 2040: 58,960 · +4.1%
• By 2050: 59,073 · +4.3%
• By 2075: 53,737 · -5.2%
• By 2100: 42,516 · -25.0%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 57% Hispanic / Latino 24% Two or more races 17% Black 14%
• Hispanic origin (detail): Mexican 22%
• Common ancestry: Romanian 1% Iranian 1% Slovak 1%
• Foreign-born: 7% · Canada, Vietnam
• Languages at home: 84% English-only · Spanish 14% German/W. Germanic 1% Other Indo-European 1%

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Political lean MEDSL · Anderson

• 2024 margin: Solid R (+61.8) · D 18.8% · R 80.6%
• 2008→2024 swing: -18.3pp toward R · 2008: -43.5pp · 2024: -61.8pp
• All cycles: 2024: R+61.8 2020: R+58.0 2016: R+58.1 2012: R+52.2 2008: R+43.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -95.92%
• Current HPI: 186.4885
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 3.95%
• F500 in state: 110

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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

+66.9% since first listed

12 events — show timeline

• 2026-03-05 Price Changed $130,000 PAOR
• 2025-11-04 Relisted — PAOR
• 2025-08-16 Listed $139,000 PAOR
• 2025-08-15 Listing Removed — NTREIS
• 2025-07-16 Price Changed $129,000 NTREIS
• 2025-07-08 Price Changed $139,000 NTREIS
• 2025-07-01 Listed $149,000 NTREIS
• 2023-03-15 Sold (MLS) — NTREIS
• 2023-01-06 Sold (Public Records) — Public Records
• 2022-12-26 Pending — NTREIS
• 2022-10-06 Listed $77,900 NTREIS
• 2003-10-06 Sold (Public Records) — Public Records

Property tax history

+4.8%/yr

Latest (2025): $1,510 · +10.8% YoY. Source: county tax records.