204 Maxwell St · Sulphur Springs, TX 75482

$154,900

3 bd · 1.5 ba · 1,076 sqft · Other public records · 245 Days on market

Built 2012 0.29 ac lot $144/sqft · 26% above area Est $123k · 26% over ↓ 9% since listing

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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 +23.7/30.0
• DSCR +7.6/10.0
• 1% rule +6.3/10.0
• Schools +3.6/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great investment opportunity. Just minutes from downtown Sulphur Springs, this charming brick home offers endless potential for investors or first time home buyers looking for their next project. Fresh new carpet has already been installed, while the rest of the home awaits your personal touch and a little TLC. Conveniently located near shopping, dining, and local attractions, this property blends location, value, and opportunity all in one.

Key facts

• Charming brick home
• Local attractions
• Fresh new carpet

Tags

• CHARMING BRICK HOME
• FRESH NEW CARPET
• LOCAL ATTRACTIONS

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath other listed at $155k.

Deal economics

• At list price, monthly cash flow is $294 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $155k).
• Recommended offer: $136k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.6% vs local median 4.3% in Sulphur Springs — 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 70/100 on livability (#350 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: employment D+, schools D, amenities F.
• Sulphur Springs ISD (town): math 46% / reading 40% proficiency, ranked #323 of 826 in TX (top 39%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 378 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 66 units permitted in Hopkins County in 2024 (0 in 5+ unit buildings).
• This rent runs 30% of the median local income ($70k/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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Hopkins County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 245 days — a 12% lower offer ($136k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 6→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $136,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 245 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.13% ✓
• Cap rate: 8.57%
• Cash-on-cash: 8.14%
• DSCR: 1.36
• GRM: 7.3

CMA / ARV

• ARV (median comp): $122,675
• List price: $154,900
• Delta: 26.27%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -3.9%
• Equity multiple: 0.85×
• Total profit: $-6,322
• Equity at exit: $23,096

10-year hold

• IRR: 5.8%
• Equity multiple: 1.43×
• Total profit: $18,788
• Equity at exit: $13,393

Cash invested: $43,372 (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 75482

• Active inventory: 378
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,757 high
• Mortgage (P&I): −$812
• Tax from tax record: −$217 /mo · $2,605/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$369
• Net cashflow: $294

Break-even live

Break-even rent $1,385

Max offer price $154,900

Occupancy floor 78%

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: $38,725
• Closing costs: $4,647
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
604 W A St Sulphur Springs, TX	3.0	2.0	1216	$1,500	$1.23	43d	1	0.20mi
709 Fuller St Sulphur Springs, TX	3.0	2.0	1100	$2,200	$2.00	43d	1	0.68mi
325 League St S Sulphur Springs, TX	3.0	1.0	1112	$2,000	$1.80	43d	1	0.84mi
210 Duckworth St Sulphur Springs, TX	1.0–2.0	1.0	700	$1,000	$1.43	43d	2	1.24mi
1045 Jackson St N Sulphur Springs, TX	3.0	2.0	1150	$1,750	$1.52	43d	1	1.39mi

Listing history 20 events

1. 2026-06-19
   days on market $154,900 Active 245 DOM
2. 2026-06-18
   days on market $154,900 Active 244 DOM
3. 2026-06-17
   days on market $154,900 Active 243 DOM
4. 2026-06-16
   days on market $154,900 Active 242 DOM
5. 2026-06-15
   days on market $154,900 Active 241 DOM
6. 2026-06-14
   days on market $154,900 Active 239 DOM
7. 2026-06-12
   days on market $154,900 Active 238 DOM
8. 2026-06-09
   days on market $154,900 Active 235 DOM
9. 2026-06-08
   days on market $154,900 Active 234 DOM
10. 2026-06-07
    days on market $154,900 Active 233 DOM
11. 2026-06-07
    days on market $154,900 Active 232 DOM
12. 2026-06-03
    days on market $154,900 Active 229 DOM
13. 2026-06-02
    days on market $154,900 Active 228 DOM
14. 2026-06-01
    days on market $154,900 Active 227 DOM
15. 2026-05-31
    days on market $154,900 Active 226 DOM
16. 2026-05-30
    days on market $154,900 Active 225 DOM
17. 2026-04-15
    price $154,900 446-char remark

    Show marketing remark (446 chars)

    Great investment opportunity. Just minutes from downtown Sulphur Springs, this charming brick home offers endless potential for investors or first time home buyers looking for their next project. Fresh new carpet has already been installed, while the rest of the home awaits your personal touch and a little TLC. Conveniently located near shopping, dining, and local attractions, this property blends location, value, and opportunity all in one.

18. 2026-01-22
    price $159,895 446-char remark

    Show marketing remark (446 chars)

    Great investment opportunity. Just minutes from downtown Sulphur Springs, this charming brick home offers endless potential for investors or first time home buyers looking for their next project. Fresh new carpet has already been installed, while the rest of the home awaits your personal touch and a little TLC. Conveniently located near shopping, dining, and local attractions, this property blends location, value, and opportunity all in one.

19. 2025-10-16
    listed $169,500 Active 446-char remark

    Show marketing remark (446 chars)

    Great investment opportunity. Just minutes from downtown Sulphur Springs, this charming brick home offers endless potential for investors or first time home buyers looking for their next project. Fresh new carpet has already been installed, while the rest of the home awaits your personal touch and a little TLC. Conveniently located near shopping, dining, and local attractions, this property blends location, value, and opportunity all in one.

20. 1994-08-26
    soldstatus

ⓘ 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: $2,605 · $217/mo
• Projected year-2 tax: $2,835 · $236/mo
• Expected delta: +$230/yr (+$19/mo · 8.8%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 6/10 Major 6 d/yr ≥109°F today · 20 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $21,086
• − Mortgage interest: −$8,677
• − Property taxes: −$2,605
• − Insurance: −$774
• − Repairs & maintenance: −$1,687
• − Management: −$1,687
• − Depreciation: −$4,506
• Taxable income: $1,149
• Est. tax owed @ 24.0%: −$276
• After-tax cash flow: $3,254/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: Sulphur Springs ISD
• NCES district ID: 4841820
• Math proficiency: 46% ▼ -7.00%
• Reading proficiency: 40% ▼ -4.00%
• Median HH income: $42,871
• Composite: 36.33/100
• National rank: #4692
• State rank: #323 of 826 in TX

Livability — Sulphur Springs

• Score: 70/100
• State rank: #350
• US rank: #7665

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sulphur Springs, TX
• County: Hopkins County · 26,483 people
• City population: 26,483
• Metro: Sulphur Springs, TX
• Population (ZIP): 26,483
• Household income: $69,970
• Rent vs Own: 33.5% rent · 66.5% own
• Severe rent burden: 543.0

Population outlook (Hopkins County) Hauer SSP2

• Today (2025): 38,107 people
• By 2030: 38,867 · +2.0%
• By 2040: 40,009 · +5.0%
• By 2050: 40,448 · +6.1%
• By 2075: 40,669 · +6.7%
• By 2100: 37,234 · -2.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Hispanic / Latino 17% Black 9% Two or more races 7% Asian 1%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Slovak 2% Lithuanian 2% Iranian 1%
• Foreign-born: 9% · Canada, Vietnam
• Languages at home: 84% English-only · Spanish 14% Vietnamese 1%

Political lean MEDSL · Hopkins

• 2024 margin: Solid R (+64.6) · D 17.4% · R 82.0%
• 2008→2024 swing: -20.0pp toward R · 2008: -44.7pp · 2024: -64.6pp
• All cycles: 2024: R+64.6 2020: R+60.7 2016: R+60.8 2012: R+55.4 2008: R+44.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -125.79%
• Current HPI: 156.0526
• Rent YoY: —
• Metro: Sulphur Springs, 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

-8.6% since first listed

4 events — show timeline

• 2026-04-15 Price Changed $154,900 NTREIS
• 2026-01-22 Price Changed $159,895 NTREIS
• 2025-10-16 Listed $169,500 NTREIS
• 1994-08-26 Sold (Public Records) — Public Records

Property tax history

+5.0%/yr

Latest (2025): $2,605 · -0.6% YoY. Source: county tax records.