1018 Merchant St · Abilene, TX 79603

$250,000

7 bd · 1.0 ba · 1,288 sqft · MultiFamily public records · 20 Days on market

Built 1946 9,583 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +5.0/5.0
• Livability +3.8/5.0
• Schools +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Ready for a great investment? Look no further! This triplex has new siding, windows, roof, flooring & paint. If you want you can live in the 3 bedroom that could easily be a 4 bedroom. front house and enjoy the monthly income of the 2 back properties. The properties include central heat & AC. The front has it's own driveway while the back 2 has its own drive in the back. Front and back properties have their own privacy wood fenced yard.

Key facts

• 9,583 sq ft lot
• 4 parking spots
• Built 1946

Property features AI

Finance

• Other: Property type: Residential Income (Triplex); Two buildings with three total units; Lot size about 0.22 acres; Subdivision: Lakeside Add; Possession subject to lease and at closing/funding
• Financial info: Gross annual income: $21,600; Gross annual expenses: $10,800; Insurance expense: $2,780; Net operating income: $10,800; Capitalization rate: 4.32%
• HOA & community: No association

Exterior

• Parking: Driveway parking; 4 parking spaces
• Utilities: City water; City sewer; Electricity connected; Not in a municipal utility district
• Home design: Residential income property (triplex); One level; No accessibility features noted
• Construction: Built in 1946; Frame and siding construction; Composition roof; Pillar/Post/Pier and slab foundation
• Exterior features: Wood fencing; Interior lot; Alley access

Interior

• Kitchen: Other appliances
• Bedrooms: 7 bedrooms
• Flooring: Other flooring
• Bathrooms: 3 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Cable TV available; Other interior features
• Laundry & utility: Other (laundry/utility)

What this means for you Summary

Snapshot

• This is a 7-bed/1.0-bath multifamily listed at $250k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $250k).
• Recommended offer: $246k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.5% vs local median 6.7% in Abilene — 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 75/100 on livability (#142 in TX, #4,037 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D, commute F.
• Abilene ISD (urban): math 32% / reading 34% proficiency, ranked #575 of 826 in TX (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Martinez El (math 30% / reading 23%, grade F, #2,927 of 4,322 statewide, top 68%, 412 students, 94% FRL) — zoned schools average 94% FRL vs 57% district-wide (37 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+40.2%/yr); 86 active listings in the ZIP; 508 units permitted in Taylor County in 2024 (0 in 5+ unit buildings).
• At $3,860/mo this rent would consume 87% of the median local household income ($54k/yr) (locally 662% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Taylor County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $70k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($246k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 18y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1946 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $246,250 (1.5% below list)

Questions for the listing agent

1. Built in 1946 — 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 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?
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 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: 1.54% ✓
• Cap rate: 12.55%
• Cash-on-cash: 22.34%
• DSCR: 1.99
• GRM: 5.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 20.7%
• Equity multiple: 1.90×
• Total profit: $62,943
• Equity at exit: $37,276

10-year hold

• IRR: 32.1%
• Equity multiple: 4.64×
• Total profit: $254,795
• Equity at exit: $21,615

Cash invested: $70,000 (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 79603

• Home prices YoY: -32.5%
• Rents YoY: 40.2%
• Active inventory: 86
• Price-to-rent: 14.7×

Monthly cashflow live

• Estimated rent: $3,860 medium
• Mortgage (P&I): −$1,311
• Tax from tax record: −$331 /mo · $3,975/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$811
• Net cashflow: $1,303

Break-even live

Break-even rent $2,211

Max offer price $250,000

Occupancy floor 61%

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

Units	Beds	Baths	Est. rent
1× unit	3	1	$1,413
▸ 2× units	2	1	$2,448
Total (3 units)			$3,860

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-19
   days on market $250,000 Active 20 DOM
2. 2026-06-18
   days on market $250,000 Active 19 DOM
3. 2026-06-17
   days on market $250,000 Active 18 DOM
4. 2026-06-16
   days on market $250,000 Active 17 DOM
5. 2026-06-15
   days on market $250,000 Active 16 DOM
6. 2026-06-14
   days on market $250,000 Active 14 DOM
7. 2026-06-13
   days on market $250,000 Active 13 DOM
8. 2026-06-10
   days on market $250,000 Active 11 DOM
9. 2026-06-09
   days on market $250,000 Active 10 DOM
10. 2026-06-08
    days on market $250,000 Active 9 DOM
11. 2026-06-07
    days on market $250,000 Active 8 DOM
12. 2026-06-03
    days on market $250,000 Active 4 DOM
13. 2026-06-02
    days on market $250,000 Active 3 DOM
14. 2026-06-01
    days on market $250,000 Active 2 DOM
15. 2026-05-31
    remarks 184-char remark
16. 2026-05-31
    listed $250,000 Active 1 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: $3,975 · $331/mo
• Projected year-2 tax: $4,575 · $381/mo
• Expected delta: +$600/yr (+$50/mo · 15.1%)

ⓘ 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 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥104°F today · 23 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 11% 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: $46,320
• − Mortgage interest: −$14,004
• − Property taxes: −$3,975
• − Insurance: −$1,250
• − Repairs & maintenance: −$3,706
• − Management: −$3,706
• − Depreciation: −$7,273
• Taxable income: $12,407
• Est. tax owed @ 24.0%: −$2,978
• After-tax cash flow: $12,658/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: Abilene ISD
• NCES district ID: 4807440
• Math proficiency: 32% ▼ -11.00%
• Reading proficiency: 34% ▼ -5.00%
• Median HH income: $39,782
• Composite: 27.71/100
• National rank: #6909
• State rank: #575 of 826 in TX

Livability — Abilene

• Score: 75/100
• State rank: #142
• US rank: #4037

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Abilene, TX
• County: Taylor County · 136,672 people
• City population: 136,672
• Metro: Abilene, TX
• Population (ZIP): 23,548
• Household income: $53,513
• Rent vs Own: 37.3% rent · 62.7% own
• Severe rent burden: 662.0

Population outlook (Taylor County) Hauer SSP2

• Today (2025): 145,270 people
• By 2030: 150,050 · +3.3%
• By 2040: 159,417 · +9.7%
• By 2050: 168,883 · +16.3%
• By 2075: 194,436 · +33.8%
• By 2100: 203,163 · +39.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: Hispanic / Latino 48% White 40% Two or more races 24% Black 8%
• Hispanic origin (detail): Mexican 44%
• Common ancestry: Italian 2% Slovak 2% Portuguese 1%
• Foreign-born: 9% · Canada
• Languages at home: 73% English-only · Spanish 25%

Political lean MEDSL · Taylor

• 2024 margin: Solid R (+49.8) · D 24.6% · R 74.4% · Other 1.0%
• 2008→2024 swing: -4.2pp toward R · 2008: -45.6pp · 2024: -49.8pp
• All cycles: 2024: R+49.8 2020: R+45.3 2016: R+51.1 2012: R+53.6 2008: R+45.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -88.84%
• Current HPI: 184.8875
• Rent YoY: ▲ 40.19%
• Metro: Abilene, 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

+234.0% since first listed

14 events — show timeline

• 2026-05-30 Listed $250,000 NTREIS
• 2015-07-15 Sold (Public Records) — Public Records
• 2015-07-13 Sold (MLS) — NTREIS
• 2015-07-08 Pending — NTREIS
• 2015-06-29 Contingent — NTREIS
• 2015-05-12 Listed $115,000 NTREIS
• 2011-05-17 Listing Removed — NTREIS
• 2011-02-08 Listed $125,000 NTREIS
• 2008-08-20 Sold (Public Records) — Public Records
• 2008-08-19 Sold (MLS) — NTREIS
• 2008-07-19 Listing Removed — NTREIS
• 2008-01-23 Listed $74,840 NTREIS
• 2005-03-01 Sold (Public Records) — Public Records
• 2003-01-15 Sold (Public Records) — Public Records

Property tax history

+3.8%/yr

Latest (2025): $3,975 · +1.5% YoY. Source: county tax records.