102 S Victoria St · Victoria, TX 77901

$135,000

2 bd · 2.0 ba · 552 sqft · MultiFamily public records · 103 Days on market

Built 1940 0.40 ac lot $245/sqft · 146% above area ↓ 14% since listing

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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 +28.6/30.0
• DSCR +10.0/10.0
• 1% rule +9.2/10.0
• ARV discount +7.5/15.0
• Livability +3.6/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 2 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Welcome to 102-104 South Victoria St. This corner lot on just under a half acre of land 3 blocks from Downtown Victoria includes 4 units in total. 1 2BR 1BA house rented, one duplex 2BR 1BA each side rented, and a garage apartment that is vacant that could use some love to make rent ready. All units are sub-metered. Residents pay all their own utilities including electric, water, and trash. Current rents are $1850 a month as is. Property is an original type condition, but has incredible opportunity. This could be a wonderful for an investor to complete rent ready renovations on garage unit, but have cashflow coming in from day one or a wonderful opportunity for someone to live in the garage apartment 3 blocks from booming downtown for free with residents covering any expenses. Please do not disturb residents and contact for showing instructions today!

Key facts

• 4 units
• Garage apartment
• Sub-metered

Tags

• CORNER LOT
• HALF ACRE OF LAND
• 4 UNITS
• SUB-METERED
• ORIGINAL TYPE CONDITION
• GARAGE APARTMENT

What this means for you Summary

Snapshot

• This is a 2 × 1-bed/?-bath units multifamily listed at $135k.

Deal economics

• At list price, monthly cash flow is $18 ($214/yr) — positive. Per door: $9/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $123k (9.0% below list) — sets the bar for market timing.
• Cap rate 10.2% vs local median 3.7% in Victoria — 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 71/100 on livability (#309 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D+, schools D, amenities F.
• Victoria ISD (urban): math 24% / reading 33% proficiency, ranked #645 of 826 in TX (top 78%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents soft (-0.8%/yr); 199 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 43 units permitted in Victoria County in 2024 (0 in 5+ unit buildings).
• This rent runs 40% of the median local income ($58k/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 $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Victoria County population projected at +34% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 103 days — a 9% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y ago; this cycle's ask has dropped $15k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; flood insurance adds $427/mo; built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $122,850 (9.0% below list)

Questions for the listing agent

1. It's been on market 103 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
6. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. 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?
10. 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?
11. 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.
12. 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.
13. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.42% ✓
• Cap rate: 10.24%
• Cash-on-cash: 14.11%
• DSCR: 1.63
• GRM: 5.9

CMA / ARV

• ARV (median comp): $313,187
• List price: $135,000
• Delta: -56.89%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -20.6%
• Equity multiple: 0.31×
• Total profit: $-25,986
• Equity at exit: $20,129

10-year hold

• IRR: -32.2%
• Equity multiple: -0.09×
• Total profit: $-41,369
• Equity at exit: $11,672

Cash invested: $37,800 (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 77901

• Rents YoY: -0.8%
• Active inventory: 199
• Price-to-rent: 11.7×

Monthly cashflow live

• Estimated rent: $1,919 medium
• Mortgage (P&I): −$708
• Tax from tax record: −$307 /mo · $3,689/yr
• Insurance: −$56
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$403
• Net cashflow: $18

Break-even live

Break-even rent $1,896

Max offer price $135,000

Occupancy floor 94%

Sensitivity live

Price	-10% $94	-5% $56	+0% $18	+5% $-20	+10% $-59
Rent	-10% $-134	-5% $-58	+0% $18	+5% $94	+10% $169
Rate	-1.0pp $86	-0.5pp $52	base $18	+0.5pp $-17	+1.0pp $-53

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	1	—	$1,918
Total (2 units)			$1,919

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
305 E Brazos St Victoria, TX	1.0	1.0	380	$725	$1.91	44d	1	0.84mi
1002 Pine St Victoria, TX	1.0	1.0	650	$575	$0.88	44d	1	1.07mi
1303 E Colorado St Victoria, TX	2.0	1.0	525	$675	$1.29	44d	1	1.38mi

Listing history 28 events

1. 2026-06-21
   days on market $135,000 Active 103 DOM
2. 2026-06-19
   days on market $135,000 Active 101 DOM
3. 2026-06-18
   status $135,000 Active 100 DOM
4. 2026-06-18
   days on market $135,000 Pending 100 DOM
5. 2026-06-17
   status $135,000 Pending 99 DOM
6. 2026-06-17
   days on market $135,000 Active 99 DOM
7. 2026-06-16
   days on market $135,000 Active 98 DOM
8. 2026-06-15
   days on market $135,000 Active 97 DOM
9. 2026-06-14
   days on market $135,000 Active 95 DOM
10. 2026-06-13
    days on market $135,000 Active 94 DOM
11. 2026-06-10
    days on market $135,000 Active 92 DOM
12. 2026-06-09
    days on market $135,000 Active 91 DOM
13. 2026-06-08
    days on market $135,000 Active 90 DOM
14. 2026-06-07
    days on market $135,000 Active 89 DOM
15. 2026-06-03
    pricedays on market $135,000 Active 85 DOM
16. 2026-06-02
    days on market $149,900 Active 84 DOM
17. 2026-06-01
    days on market $149,900 Active 83 DOM
18. 2026-05-31
    days on market $149,900 Active 82 DOM
19. 2026-05-30
    days on market $149,900 Active 81 DOM
20. 2026-03-10
    listed $149,900 Active 863-char remark

    Show marketing remark (863 chars)

    Welcome to 102-104 South Victoria St. This corner lot on just under a half acre of land 3 blocks from Downtown Victoria includes 4 units in total. 1 2BR 1BA house rented, one duplex 2BR 1BA each side rented, and a garage apartment that is vacant that could use some love to make rent ready. All units are sub-metered. Residents pay all their own utilities including electric, water, and trash. Current rents are $1850 a month as is. Property is an original type condition, but has incredible opportunity. This could be a wonderful for an investor to complete rent ready renovations on garage unit, but have cashflow coming in from day one or a wonderful opportunity for someone to live in the garage apartment 3 blocks from booming downtown for free with residents covering any expenses. Please do not disturb residents and contact for showing instructions today!

21. 2025-04-10
    historical
22. 2025-04-10
    price $159,900
23. 2025-01-14
    listed $169,000 Active
24. 2024-01-02
    historical
25. 2023-10-25
    listed $179,900 Active
26. 2023-06-22
    soldstatus
27. 2023-05-15
    status Pending
28. 2023-05-08
    listed $175,000 Active

ⓘ 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: $3,689 · $307/mo
• Projected year-2 tax: $3,689 · $307/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 6/10 Major FEMA zone AE · 71% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥111°F today · 21 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% 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: $23,028
• − Mortgage interest: −$7,562
• − Property taxes: −$3,689
• − Insurance: −$5,794
• − Repairs & maintenance: −$1,842
• − Management: −$1,842
• − Depreciation: −$3,927
• Taxable loss: −$1,628
• Est. tax savings @ 24.0%: +$391
• After-tax cash flow: $605/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: Victoria ISD
• NCES district ID: 4844150
• Math proficiency: 24% ▼ -12.00%
• Reading proficiency: 33% ▼ -2.00%
• Median HH income: $50,534
• Composite: 24.98/100
• National rank: #7562
• State rank: #645 of 826 in TX

Livability — Victoria

• Score: 71/100
• State rank: #309
• US rank: #6960

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Victoria, TX
• County: Victoria County · 69,915 people
• City population: 69,915
• Metro: Victoria, TX
• Population (ZIP): 39,854
• Household income: $57,923
• Rent vs Own: 46.5% rent · 53.5% own
• Severe rent burden: 1802.0

Population outlook (Victoria County) Hauer SSP2

• Today (2025): 106,119 people
• By 2030: 113,161 · +6.6%
• By 2040: 127,402 · +20.1%
• By 2050: 141,953 · +33.8%
• By 2075: 179,410 · +69.1%
• By 2100: 200,127 · +88.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (66%)
• Race & ethnicity: Hispanic / Latino 66% Two or more races 30% White 24% Black 7% Asian 2%
• Hispanic origin (detail): Mexican 60%
• Common ancestry: Serbian 2% Lithuanian 1% Italian 1%
• Foreign-born: 10% · Canada, China
• Languages at home: 64% English-only · Spanish 35% Chinese 1%

Political lean MEDSL · Victoria

• 2024 margin: Solid R (+42.6) · D 28.4% · R 71.0%
• 2008→2024 swing: -9.0pp toward R · 2008: -33.6pp · 2024: -42.6pp
• All cycles: 2024: R+42.6 2020: R+38.0 2016: R+40.0 2012: R+37.8 2008: R+33.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -127.62%
• Current HPI: 138.3569
• Rent YoY: ▼ -0.79%
• Metro: Victoria, 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

-14.3% since first listed

9 events — show timeline

• 2026-03-10 Listed $149,900 HARMLS
• 2025-04-10 Listing Removed — HARMLS
• 2025-04-10 Price Changed $159,900 HARMLS
• 2025-01-14 Listed $169,000 HARMLS
• 2024-01-02 Listing Removed — CTXMLS
• 2023-10-25 Listed $179,900 CTXMLS
• 2023-06-22 Sold (Public Records) — Public Records
• 2023-05-15 Pending — CTXMLS
• 2023-05-08 Listed $175,000 CTXMLS

Property tax history

+2.5%/yr

Latest (2025): $3,689 · -8.9% YoY. Source: county tax records.