1508 Hwy 135 · Overton, TX 75684

$80,000

2 bd · 2.0 ba · 1,632 sqft · SingleFamily · 14 Days on market

Built 1930 Fair condition 0.94 ac lot

---

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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +5.0/10.0
• Schools +3.5/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

Listing remarks

Introducing a blank slate ready for your vision! Situated on almost an acre of land, this 2-bedroom, 1-bath home features an open floor plan and endless potential. The property has served as a rental home for many years, and the tenant has recently moved out. The home is being sold AS IS. No repairs will be made, and the owner has never occupied the property. Whether you're looking for an investment opportunity, a renovation project, or a place to create your dream home, this property offers plenty of possibilities. The oversized lot provides room for expansion, additional structures, or even the potential to add another home (subject to local regulations and approvals). Investors will appr

Key facts

• Open floor plan
• Room for expansion
• Oversized lot

Tags

• ALMOST AN ACRE
• OPEN FLOOR PLAN
• OVERSIZED LOT
• ROOM FOR EXPANSION
• ADDITIONAL STRUCTURES
• POTENTIAL TO ADD ANOTHER HOME

Property features AI

Finance

• Other: Possession: Negotiable
• Financial info: Listing terms: Cash or Conventional; Special taxing entities: No
• HOA & community: No association

Exterior

• Parking: Open gravel parking; No garage or carport
• Utilities: City water; Septic
• Home design: Single family residence; One story; Property is attached
• Construction: Built in 1930
• Exterior features: No fencing noted; Lot approximately 0.94 acre

Interior

• Kitchen: Eat-in kitchen; Vented exhaust fan
• Bedrooms: 2 bedrooms (both on main level)
• Bathrooms: 2 full bathrooms
• Heating & cooling: No central heating; Cooling via wall/window units (multiple units)
• Interior features: Open floorplan; Eat-in kitchen; Paneling; Vented exhaust fan; One living area; One dining area; 5 total rooms

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $80k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $533 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).

Location & tenants

• Location reads 69/100 on livability (#432 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime A; Watch: amenities F, commute F, employment F.
• Arp ISD (rural): math 37% / reading 43% proficiency, ranked #400 of 826 in TX (top 48%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Arp El (math 32% / reading 37%, grade F, #1,995 of 4,322 statewide, top 50%, 473 students, 60% FRL).
• Market conditions: 70 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 595 units permitted in Smith County in 2024 (45 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($553 loan paydown + $2k appreciation (3.0% local appreciation)).
• Smith County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $80,000

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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: 1.72% ✓
• Cap rate: 14.29%
• Cash-on-cash: 28.57%
• DSCR: 2.27
• GRM: 4.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 34.5%
• Equity multiple: 2.95×
• Total profit: $43,630
• Equity at exit: $35,971

10-year hold

• IRR: 34.7%
• Equity multiple: 5.81×
• Total profit: $107,748
• Equity at exit: $55,436

Cash invested: $22,400 (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 75684

• Active inventory: 70
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,375 medium
• Mortgage (P&I): −$420
• Tax est. 1.5%: −$100 /mo · $1,200/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$289
• Net cashflow: $533

Break-even live

Break-even rent $700

Max offer price $80,000

Occupancy floor 56%

Sensitivity live

Price	-10% $589	-5% $561	+0% $533	+5% $506	+10% $478
Rent	-10% $425	-5% $479	+0% $533	+5% $588	+10% $642
Rate	-1.0pp $574	-0.5pp $554	base $533	+0.5pp $513	+1.0pp $492

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
304 E Cottonwood St Overton, TX	2.0	2.0	1210	$1,375	$1.14	22d	1	0.87mi

Listing history 12 events

1. 2026-06-19
   days on market $80,000 Active 14 DOM
2. 2026-06-18
   days on market $80,000 Active 13 DOM
3. 2026-06-17
   days on market $80,000 Active 12 DOM
4. 2026-06-16
   days on market $80,000 Active 11 DOM
5. 2026-06-15
   days on market $80,000 Active 10 DOM
6. 2026-06-14
   days on market $80,000 Active 8 DOM
7. 2026-06-13
   days on market $80,000 Active 7 DOM
8. 2026-06-10
   days on market $80,000 Active 5 DOM
9. 2026-06-09
   days on market $80,000 Active 4 DOM
10. 2026-06-08
    days on market $80,000 Active 3 DOM
11. 2026-06-07
    remarks 699-char remark
12. 2026-06-07
    listed $80,000 Active 2 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $16,500
• − Mortgage interest: −$4,481
• − Property taxes: −$1,200
• − Insurance: −$400
• − Repairs & maintenance: −$1,320
• − Management: −$1,320
• − Depreciation: −$2,327
• Taxable income: $5,451
• Est. tax owed @ 24.0%: −$1,308
• After-tax cash flow: $5,092/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 · 13 photos

Fair 45/100 Extensive rehab

This property requires extensive repairs and maintenance, including roof repair, exterior siding replacement, flooring replacement, and interior wall repair. The home's location and large lot provide potential for significant value increase with proper renovations.

Repairs flagged

• Major roof — The roof appears to be in poor condition, with visible wear and tear.
• Major exterior siding — The exterior siding is peeling and in need of repainting or replacement.
• Major flooring — The flooring in the interior appears to be carpeted and in need of replacement.
• Major interior walls — The interior walls show signs of wear and tear, with some areas appearing to be in need of repainting or repair.
• Major landscaping — The landscaping and fencing appear to be in poor condition, with overgrown vegetation and a lack of maintenance.

Value-add opportunities

• Resale roof repair and replacement — A new roof will significantly improve the home's appearance and increase its value for potential buyers.
• Resale exterior siding replacement and painting — A new exterior siding and fresh paint will enhance the home's curb appeal and increase its resale value.
• Resale flooring replacement — New flooring will improve the home's appearance and increase its resale value.
• Resale interior wall repair and painting — Repainting and repairing the interior walls will improve the home's appearance and increase its resale value.
• Both landscaping and fencing maintenance — A well-maintained landscape and fencing will improve the home's curb appeal and increase its rental value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · The roof appears to be in poor condition, with visible wear and tear.	Major	$15,000–50,000
exterior siding · The exterior siding is peeling and in need of repainting or replacement.	Major	$15,000–50,000
flooring · The flooring in the interior appears to be carpeted and in need of replacement.	Major	$15,000–50,000
interior walls · The interior walls show signs of wear and tear, with some areas appearing to be in need of repainting or repair.	Major	$15,000–50,000
landscaping · The landscaping and fencing appear to be in poor condition, with overgrown vegetation and a lack of maintenance.	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Resale roof repair and replacement — A new roof will significantly improve the home's appearance and increase its value for potential buyers. ↑
• Resale exterior siding replacement and painting — A new exterior siding and fresh paint will enhance the home's curb appeal and increase its resale value. ↑
• Resale flooring replacement — New flooring will improve the home's appearance and increase its resale value. ↑
• Resale interior wall repair and painting — Repainting and repairing the interior walls will improve the home's appearance and increase its resale value. ↑
• Both landscaping and fencing maintenance — A well-maintained landscape and fencing will improve the home's curb appeal and increase its rental value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Arp ISD
• NCES district ID: 4808730
• Math proficiency: 37% ▼ -10.00%
• Reading proficiency: 43% ▼ -3.00%
• Median HH income: $51,075
• Composite: 34.58/100
• National rank: #5165
• State rank: #400 of 826 in TX

Livability — Overton

• Score: 69/100
• State rank: #432
• US rank: #8906

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Overton, TX
• Population (ZIP): 7,655

Population outlook (Smith County) Hauer SSP2

• Today (2025): 248,890 people
• By 2030: 261,665 · +5.1%
• By 2040: 286,114 · +15.0%
• By 2050: 308,006 · +23.8%
• By 2075: 354,171 · +42.3%
• By 2100: 372,828 · +49.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (63%)
• Race & ethnicity: White 63% Hispanic / Latino 20% Two or more races 15% Black 11%
• Hispanic origin (detail): Mexican 15% Puerto Rican 2%
• Common ancestry: Italian 2% Lithuanian 2% Slovak 1%
• Foreign-born: 6% · Canada
• Languages at home: 86% English-only · Spanish 13%

Political lean MEDSL · Smith

• 2024 margin: Solid R (+45.1) · D 27.0% · R 72.1%
• 2008→2024 swing: -5.6pp toward R · 2008: -39.5pp · 2024: -45.1pp
• All cycles: 2024: R+45.1 2020: R+39.4 2016: R+43.9 2012: R+46.9 2008: R+39.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• 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

1 event — show timeline

• 2026-05-29 Listed $80,000 NTREIS