1832 E Polk · Paris, TX 75460

$115,000

3 bd · 1.0 ba · 1,632 sqft · SingleFamily public records · 11 Days on market

Built 1941 0.47 ac lot Est $152k · 24% 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.8/10.0
• Livability +3.1/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to this charming 3-bedroom, 1.5 bathroom property in the heart of Paris, Texas. Situated on a spacious . 47-acre fenced lot, this home offers plenty of room for kids, pets, gardening, and family gatherings. This historic home is ready for your personal touch and offers endless potential for a family looking to create lasting memories. Enjoy relaxing evenings on the patio, outdoor fun in the large backyard. With no HOA , no known restrictions, and easy access to shopping, dining, schools, and everyday aminities, this property combines space, freedom, and value at an afforbable price. Bring your vision and make this house your family's next home. Great opportunuty for an investme

Key facts

• Large backyard
• Patio
• Fenced lot

Tags

• FENCED LOT
• LARGE BACKYARD
• PATIO
• NO HOA
• EASY ACCESS TO SHOPPING
• EASY ACCESS TO DINING

Property features AI

Finance

• Other: Washer, dryer and refrigerator are excluded from the sale (owner's personal belongings excluded)
• Financial info: Listing terms include Cash, Conventional, FHA-203K; Second mortgage: none
• HOA & community: No association

Exterior

• Parking: Covered parking space; Attached garage with 1 garage space; Driveway and concrete parking areas; Garage faces front
• Utilities: City sewer
• Home design: Single-family residence; One-story home; Built in 1941; Property is not attached
• Construction: Year built: 1941
• Exterior features: Lot approximately 0.4656 acres (120 x 169); Less than 0.5 acre lot; Subdivision: City of Paris

Interior

• Kitchen: Electric cooktop; Electric oven
• Bedrooms: 3 bedrooms (all on the main level); Primary bedroom with ensuite bath
• Bathrooms: 1 full bathroom; 1 half bathroom (total 2 bathrooms)
• Interior features: Cable TV available; High-speed internet available; One living area; One dining area; Total of 4 rooms
• Laundry & utility: Washer included; Dryer included; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $450 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Cap rate 11.0% vs local median 3.7% in Paris — 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 61/100 on livability (#984 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools D+, crime F, amenities F.
• Paris ISD (town): math 36% / reading 37% proficiency, ranked #521 of 826 in TX (top 63%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 275 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; 119 units permitted in Lamar County in 2024 (71 in 5+ unit buildings).
• This rent runs 41% of the median local income ($46k/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 $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Lamar County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

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

Risks & watch-outs

• Watch-outs: built in 1941 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $115,000

Questions for the listing agent

1. Built in 1941 — 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 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?
4. 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?
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: 1.38% ✓
• Cap rate: 10.99%
• Cash-on-cash: 16.79%
• DSCR: 1.75
• GRM: 6.0

CMA / ARV

• ARV (on-the-fly): $151,776
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2025 Cedar St	0.15mi	3/2.0	1,552 (-5%)	4mo	$164,500	$106	77
841 20th St SE	0.16mi	3/2.0	1,575 (-4%)	10mo	$169,000	$107	74
2240 Hubbard	0.52mi	3/1.0	1,644 (+1%)	1mo	$159,900	$97	74
831 17th St SE	0.17mi	3/2.0	1,784 (+9%)	1mo	$135,000	$76	72
693 SE 25th St	0.48mi	3/1.0	1,580 (-3%)	1mo	$95,000	$60	72
108 SE 22nd St	0.58mi	3/2.0	1,704 (+4%)	1mo	$60,000	$35	61
1070 15th St SE	0.23mi	2/1.0 (-1)	1,414 (-13%)	5mo	$31,400	$22	58
718 12th St SE	0.45mi	3/1.0	1,440 (-12%)	3mo	$65,000	$45	56
2121 Cedar St	0.18mi	3/2.0	1,394 (-15%)	9mo	$150,000	$108	56
2252 Cleveland St	0.48mi	3/1.5	1,508 (-8%)	10mo	$139,900	$93	54
1735 Bella Vis	0.26mi	3/2.0	1,393 (-15%)	10mo	$199,900	$144	51
1347 E Houston St	0.74mi	2/2.0 (-1)	1,542 (-6%)	2mo	$79,000	$51	46

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: 8.0%
• Equity multiple: 1.31×
• Total profit: $10,083
• Equity at exit: $17,147

10-year hold

• IRR: 17.3%
• Equity multiple: 2.42×
• Total profit: $45,844
• Equity at exit: $9,943

Cash invested: $32,200 (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 75460

• Active inventory: 275
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,591 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$155 /mo · $1,865/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$334
• Net cashflow: $450

Break-even live

Break-even rent $1,021

Max offer price $115,000

Occupancy floor 67%

Sensitivity live

Price	-10% $516	-5% $483	+0% $450	+5% $418	+10% $385
Rent	-10% $325	-5% $388	+0% $450	+5% $513	+10% $576
Rate	-1.0pp $508	-0.5pp $480	base $450	+0.5pp $421	+1.0pp $390

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2121 Cedar St Paris, TX	3.0	2.0	1394	$2,000	$1.43	45d	1	0.17mi
2246 Simpson St Paris, TX	3.0	1.0	1508	$1,250	$0.83	45d	1	0.39mi
370 29th St NE Paris, TX	3.0	1.0	1220	$1,200	$0.98	45d	1	1.18mi

Listing history 9 events

1. 2026-06-21
   days on market $115,000 Active 11 DOM
2. 2026-06-19
   days on market $115,000 Active 9 DOM
3. 2026-06-18
   days on market $115,000 Active 8 DOM
4. 2026-06-17
   days on market $115,000 Active 7 DOM
5. 2026-06-16
   days on market $115,000 Active 6 DOM
6. 2026-06-15
   days on market $115,000 Active 5 DOM
7. 2026-06-14
   days on market $115,000 Active 3 DOM
8. 2026-06-12
   remarks 699-char remark
9. 2026-06-12
   listed $115,000 Active 2 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: $1,865 · $155/mo
• Projected year-2 tax: $2,104 · $175/mo
• Expected delta: +$240/yr (+$20/mo · 12.9%)

ⓘ 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 6/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥110°F today · 22 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 23% 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: $19,090
• − Mortgage interest: −$6,442
• − Property taxes: −$1,865
• − Insurance: −$575
• − Repairs & maintenance: −$1,527
• − Management: −$1,527
• − Depreciation: −$3,345
• Taxable income: $3,809
• Est. tax owed @ 24.0%: −$914
• After-tax cash flow: $4,491/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: Paris ISD
• NCES district ID: 4834290
• Math proficiency: 36% ▼ -11.00%
• Reading proficiency: 37% ▼ -1.00%
• Median HH income: $31,515
• Composite: 29.83/100
• National rank: #6419
• State rank: #521 of 826 in TX

Livability — Paris

• Score: 61/100
• State rank: #984
• US rank: #17535

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Paris, TX
• County: Lamar County · 23,426 people
• City population: 23,426
• Metro: Paris, TX
• Population (ZIP): 23,426
• Household income: $46,473
• Rent vs Own: 49.7% rent · 50.3% own
• Severe rent burden: 1355.0

Population outlook (Lamar County) Hauer SSP2

• Today (2025): 48,319 people
• By 2030: 47,160 · -2.4%
• By 2040: 44,621 · -7.7%
• By 2050: 42,024 · -13.0%
• By 2075: 36,577 · -24.3%
• By 2100: 30,580 · -36.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 58% Black 22% Hispanic / Latino 13% Two or more races 8%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Lithuanian 1% Slovak 1% Italian 1%
• Foreign-born: 3% · Canada, China
• Languages at home: 92% English-only · Spanish 7%

Political lean MEDSL · Lamar

• 2024 margin: Solid R (+61.0) · D 19.2% · R 80.3%
• 2008→2024 swing: -19.1pp toward R · 2008: -42.0pp · 2024: -61.0pp
• All cycles: 2024: R+61.0 2020: R+57.4 2016: R+59.2 2012: R+50.3 2008: R+42.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -201.50%
• Current HPI: 145.3511
• Rent YoY: —
• Metro: Paris, 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

• 2026-06-10 Listed $115,000 NTREIS
• 2007-02-08 Sold (Public Records) — Public Records

Property tax history

+4.7%/yr

Latest (2025): $1,865 · +11.4% YoY. Source: county tax records.