302 S Pearl St · Mart, TX 76664

$80,000

3 bd · 1.0 ba · 1,440 sqft · SingleFamily public records · 59 Days on market

Built 1950 0.57 ac lot $56/sqft · 35% below area Est $123k · 35% under ↓ 9% 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 +26.1/30.0
• ARV discount +15.0/15.0
• 1% rule +9.2/10.0
• DSCR +8.8/10.0
• Livability +3.4/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +1.7/10.0

Listing remarks MLS

Situated in the peaceful community of Mart, Texas, this charming Craftsman-style home offers a wonderful opportunity to blend classic character with your own modern updates. Featuring three bedrooms and two bathrooms, the home showcases high ceilings that create a bright, open atmosphere, along with a formal dining room perfect for hosting family gatherings or entertaining guests. Original architectural details reflect the timeless appeal of Craftsman design, while two covered porches provide inviting spaces to relax and enjoy the surrounding half-acre lot. With a solid layout and generous outdoor space, this property is full of potential and simply awaits a touch of updating and modernization to truly make it shine.

Key facts

• Craftsman style home
• Half-acre lot
• Formal dining room

Tags

• CRAFTSMAN STYLE HOME
• HIGH CEILINGS
• FORMAL DINING ROOM
• TWO COVERED PORCHES
• HALF-ACRE LOT
• ORIGINAL ARCHITECTURAL DETAILS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $201 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $78k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.3% vs local median 4.8% in Mart — 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 67/100 on livability (#586 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: schools F, amenities F, commute F.
• Mart ISD (rural): math 32% / reading 32% proficiency, ranked #589 of 826 in TX (top 71%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 60 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,014 units permitted in McLennan County in 2024 (200 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $553 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• McLennan County population projected at +17% 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 ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($78k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 3.7% of price; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 65% chance of damaging wind over 30y; extreme-heat days projected 6→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $77,600 (3.0% below list)

Questions for the listing agent

1. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-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. 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: 1.42% ✓
• Cap rate: 9.30%
• Cash-on-cash: 10.75%
• DSCR: 1.48
• GRM: 5.9

CMA / ARV

• ARV (median comp): $123,453
• List price: $80,000
• Delta: -35.20%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
308 E Ross Ave	0.10mi	3/1.0	1,408 (-2%)	4mo	$21,500	$15	89
404 E Ross Ave	0.08mi	3/1.0	1,520 (+6%)	7mo	$65,000	$43	81
504 E Navarro St	0.04mi	3/2.0	1,381 (-4%)	9mo	$199,000	$144	80
801 E Limestone Ave	0.30mi	3/1.0	1,438 (-0%)	8mo	$54,900	$38	80
309 E Ross	0.08mi	3/2.0	1,576 (+9%)	2mo	$145,000	$92	75
304 Ross Ave	0.12mi	3/1.0	1,296 (-10%)	13mo	$37,500	$29	67
219 N Smyth St	0.40mi	3/2.0	1,516 (+5%)	5mo	$50,000	$33	64
304 N Lumpkin St	0.49mi	3/1.0	1,248 (-13%)	3mo	$105,000	$84	53
205 S Carpenter St	0.37mi	2/1.0 (-1)	1,240 (-14%)	4mo	$43,900	$35	52
306 N Goddard St	0.63mi	3/2.0	1,360 (-6%)	9mo	$64,900	$48	50
1013 E Mclennan Ave	0.56mi	3/1.0	1,312 (-9%)	16mo	$149,900	$114	45
905 E Texas Ave	0.43mi	3/2.0	1,604 (+11%)	17mo	$189,900	$118	42

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: -0.1%
• Equity multiple: 1.00×
• Total profit: $-81
• Equity at exit: $11,928

10-year hold

• IRR: 9.7%
• Equity multiple: 1.75×
• Total profit: $16,809
• Equity at exit: $6,917

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 76664

• Home prices YoY: -3.2%
• Active inventory: 60
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,135 medium
• Mortgage (P&I): −$420
• Tax from tax record: −$243 /mo · $2,921/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$238
• Net cashflow: $201

Break-even live

Break-even rent $881

Max offer price $80,000

Occupancy floor 77%

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 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
208 N Lumpkin St Mart, TX	2.0	1.0	988	$950	$0.96	13d	1	0.41mi
318 N Waco St Mart, TX	3.0	2.0	1075	$1,395	$1.30	13d	1	0.63mi

Listing history 21 events

1. 2026-06-18
   days on market $80,000 Active 59 DOM
2. 2026-06-17
   days on market $80,000 Active 58 DOM
3. 2026-06-16
   days on market $80,000 Active 57 DOM
4. 2026-06-15
   days on market $80,000 Active 56 DOM
5. 2026-06-14
   days on market $80,000 Active 54 DOM
6. 2026-06-13
   days on market $80,000 Active 53 DOM
7. 2026-06-10
   days on market $80,000 Active 51 DOM
8. 2026-06-09
   days on market $80,000 Active 50 DOM
9. 2026-06-08
   days on market $80,000 Active 49 DOM
10. 2026-06-07
    days on market $80,000 Active 48 DOM
11. 2026-06-05
    days on market $80,000 Active 45 DOM
12. 2026-06-03
    days on market $80,000 Active 44 DOM
13. 2026-06-02
    days on market $80,000 Active 43 DOM
14. 2026-06-01
    days on market $80,000 Active 42 DOM
15. 2026-05-31
    days on market $80,000 Active 41 DOM
16. 2026-05-30
    days on market $80,000 Active 40 DOM
17. 2026-05-03
    status Pending 726-char remark

    Show marketing remark (726 chars)

    Situated in the peaceful community of Mart, Texas, this charming Craftsman-style home offers a wonderful opportunity to blend classic character with your own modern updates. Featuring three bedrooms and two bathrooms, the home showcases high ceilings that create a bright, open atmosphere, along with a formal dining room perfect for hosting family gatherings or entertaining guests. Original architectural details reflect the timeless appeal of Craftsman design, while two covered porches provide inviting spaces to relax and enjoy the surrounding half-acre lot. With a solid layout and generous outdoor space, this property is full of potential and simply awaits a touch of updating and modernization to truly make it shine.

18. 2026-04-23
    price $87,500 726-char remark

    Show marketing remark (726 chars)

    Situated in the peaceful community of Mart, Texas, this charming Craftsman-style home offers a wonderful opportunity to blend classic character with your own modern updates. Featuring three bedrooms and two bathrooms, the home showcases high ceilings that create a bright, open atmosphere, along with a formal dining room perfect for hosting family gatherings or entertaining guests. Original architectural details reflect the timeless appeal of Craftsman design, while two covered porches provide inviting spaces to relax and enjoy the surrounding half-acre lot. With a solid layout and generous outdoor space, this property is full of potential and simply awaits a touch of updating and modernization to truly make it shine.

19. 2026-04-01
    listed $96,500 Active 726-char remark

    Show marketing remark (726 chars)

    Situated in the peaceful community of Mart, Texas, this charming Craftsman-style home offers a wonderful opportunity to blend classic character with your own modern updates. Featuring three bedrooms and two bathrooms, the home showcases high ceilings that create a bright, open atmosphere, along with a formal dining room perfect for hosting family gatherings or entertaining guests. Original architectural details reflect the timeless appeal of Craftsman design, while two covered porches provide inviting spaces to relax and enjoy the surrounding half-acre lot. With a solid layout and generous outdoor space, this property is full of potential and simply awaits a touch of updating and modernization to truly make it shine.

20. 2008-08-12
    soldstatus
21. 2002-06-03
    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: $2,921 · $243/mo
• Projected year-2 tax: $2,921 · $243/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 7/10 Severe 6 d/yr ≥108°F today · 21 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 65% 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: $13,623
• − Mortgage interest: −$4,481
• − Property taxes: −$2,921
• − Insurance: −$400
• − Repairs & maintenance: −$1,090
• − Management: −$1,090
• − Depreciation: −$2,327
• Taxable income: $1,314
• Est. tax owed @ 24.0%: −$315
• After-tax cash flow: $2,092/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.

Schools (NCES district)

• District: Mart ISD
• NCES district ID: 4829190
• Math proficiency: 32% ▼ -2.00%
• Reading proficiency: 32% ▲ 2.00%
• Median HH income: $38,915
• Composite: 26.81/100
• National rank: #7116
• State rank: #589 of 826 in TX

Livability — Mart

• Score: 67/100
• State rank: #586
• US rank: #11177

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mart, TX
• Population (ZIP): 3,425

Population outlook (McLennan County) Hauer SSP2

• Today (2025): 264,191 people
• By 2030: 273,578 · +3.6%
• By 2040: 291,506 · +10.3%
• By 2050: 308,044 · +16.6%
• By 2075: 349,648 · +32.3%
• By 2100: 364,779 · +38.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 61% Black 20% Two or more races 11% Hispanic / Latino 11%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Serbian 2% Romanian 2% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 92% English-only · Spanish 8%

Political lean MEDSL · McLennan

• 2024 margin: Solid R (+30.9) · D 34.0% · R 64.9% · Other 1.0%
• 2008→2024 swing: -7.0pp toward R · 2008: -23.9pp · 2024: -30.9pp
• All cycles: 2024: R+30.9 2020: R+23.4 2016: R+27.1 2012: R+29.8 2008: R+23.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -6.56%
• Current HPI: 200.9535
• 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

-9.3% since first listed

5 events — show timeline

• 2026-05-03 Pending — NTREIS
• 2026-04-23 Price Changed $87,500 NTREIS
• 2026-04-01 Listed $96,500 NTREIS
• 2008-08-12 Sold (Public Records) — Public Records
• 2002-06-03 Sold (Public Records) — Public Records

Property tax history

+4.6%/yr

Latest (2025): $2,921 · +10.4% YoY. Source: county tax records.