1309/1311 Hickory St · Jourdanton, TX 78026

$92,000

6 bd · 3.0 ba · 784 sqft · MultiFamily · 999 Days on market

Built 1989 Poor condition ↓ 59% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +3.9/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

INCOME PRODUCING PROPERTY.....****** CITY FOR ANY RESTRICTIONS, NO MANUFACTURED HOMES ALOWED, CHECK ON CITY UTILTIES*** GREAT AREA PUT YOUR IDEAS ON THIS LAND ***********NEW CENTRAL UNIT*****NEW FLOORING*****BATHROOMS RENOVATED******

Key facts

• 4 parking spots
• Built 1989
• Listed 999 days

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.5-bath units multifamily listed at $92k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $976 ($12k/yr) — positive. Per door: $488/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $92k).
• Recommended offer: $81k (12.0% below list) — sets the bar for market timing.
• Cap rate 19.0% vs local median 3.5% in Jourdanton — 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 68/100 on livability (#474 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Jourdanton ISD (town): math 46% / reading 44% proficiency, ranked #258 of 826 in TX (top 31%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 164 active listings in the ZIP; 224 units permitted in Atascosa County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $636 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Atascosa County population projected at +41% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $26k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 999 days — a 12% lower offer ($81k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y ago; this cycle's ask has dropped $133k (59%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 6→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $80,960 (12.0% below list)

Questions for the listing agent

1. It's been on market 999 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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.
8. 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.
9. 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: 2.22% ✓
• Cap rate: 19.02%
• Cash-on-cash: 45.46%
• DSCR: 3.02
• GRM: 3.8

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: 42.6%
• Equity multiple: 2.84×
• Total profit: $47,273
• Equity at exit: $13,717

10-year hold

• IRR: 48.7%
• Equity multiple: 5.71×
• Total profit: $121,317
• Equity at exit: $7,954

Cash invested: $25,760 (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 78026

• Home prices YoY: -10.1%
• Active inventory: 164
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $2,040 medium
• Mortgage (P&I): −$482
• Tax est. 1.5%: −$115 /mo · $1,380/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$428
• Net cashflow: $976

Break-even live

Break-even rent $805

Max offer price $92,000

Occupancy floor 47%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$2,040
Total (2 units)			$2,040

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: $23,000
• Closing costs: $2,760
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $92,000 Active 999 DOM
2. 2026-06-17
   days on market $92,000 Active 998 DOM
3. 2026-06-16
   days on market $92,000 Active 997 DOM
4. 2026-06-15
   days on market $92,000 Active 996 DOM
5. 2026-06-13
   days on market $92,000 Active 994 DOM
6. 2026-06-12
   days on market $92,000 Active 993 DOM
7. 2026-06-10
   days on market $92,000 Active 990 DOM
8. 2026-06-08
   days on market $92,000 Active 989 DOM
9. 2026-06-08
   days on market $92,000 Active 988 DOM
10. 2026-06-07
    days on market $92,000 Active 987 DOM
11. 2026-06-03
    days on market $92,000 Active 984 DOM
12. 2026-06-02
    days on market $92,000 Active 983 DOM
13. 2026-06-01
    days on market $92,000 Active 982 DOM
14. 2026-05-31
    days on market $92,000 Active 981 DOM
15. 2025-09-01
    status Back on Market 234-char remark

    Show marketing remark (234 chars)

    INCOME PRODUCING PROPERTY.....****** CITY FOR ANY RESTRICTIONS, NO MANUFACTURED HOMES ALOWED, CHECK ON CITY UTILTIES*** GREAT AREA PUT YOUR IDEAS ON THIS LAND ***********NEW CENTRAL UNIT*****NEW FLOORING*****BATHROOMS RENOVATED******

16. 2025-08-09
    status Pending 234-char remark

    Show marketing remark (234 chars)

    INCOME PRODUCING PROPERTY.....****** CITY FOR ANY RESTRICTIONS, NO MANUFACTURED HOMES ALOWED, CHECK ON CITY UTILTIES*** GREAT AREA PUT YOUR IDEAS ON THIS LAND ***********NEW CENTRAL UNIT*****NEW FLOORING*****BATHROOMS RENOVATED******

17. 2025-07-15
    price $92,000 234-char remark

    Show marketing remark (234 chars)

    INCOME PRODUCING PROPERTY.....****** CITY FOR ANY RESTRICTIONS, NO MANUFACTURED HOMES ALOWED, CHECK ON CITY UTILTIES*** GREAT AREA PUT YOUR IDEAS ON THIS LAND ***********NEW CENTRAL UNIT*****NEW FLOORING*****BATHROOMS RENOVATED******

18. 2025-05-12
    price $100,000 234-char remark

    Show marketing remark (234 chars)

    INCOME PRODUCING PROPERTY.....****** CITY FOR ANY RESTRICTIONS, NO MANUFACTURED HOMES ALOWED, CHECK ON CITY UTILTIES*** GREAT AREA PUT YOUR IDEAS ON THIS LAND ***********NEW CENTRAL UNIT*****NEW FLOORING*****BATHROOMS RENOVATED******

19. 2025-05-12
    status Price Change 234-char remark

    Show marketing remark (234 chars)

    INCOME PRODUCING PROPERTY.....****** CITY FOR ANY RESTRICTIONS, NO MANUFACTURED HOMES ALOWED, CHECK ON CITY UTILTIES*** GREAT AREA PUT YOUR IDEAS ON THIS LAND ***********NEW CENTRAL UNIT*****NEW FLOORING*****BATHROOMS RENOVATED******

20. 2025-05-05
    status Pending 234-char remark

    Show marketing remark (234 chars)

    INCOME PRODUCING PROPERTY.....****** CITY FOR ANY RESTRICTIONS, NO MANUFACTURED HOMES ALOWED, CHECK ON CITY UTILTIES*** GREAT AREA PUT YOUR IDEAS ON THIS LAND ***********NEW CENTRAL UNIT*****NEW FLOORING*****BATHROOMS RENOVATED******

21. 2023-08-24
    listed $225,000 New 234-char remark

    Show marketing remark (234 chars)

    INCOME PRODUCING PROPERTY.....****** CITY FOR ANY RESTRICTIONS, NO MANUFACTURED HOMES ALOWED, CHECK ON CITY UTILTIES*** GREAT AREA PUT YOUR IDEAS ON THIS LAND ***********NEW CENTRAL UNIT*****NEW FLOORING*****BATHROOMS RENOVATED******

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 8/10 Severe 6 d/yr ≥111°F today · 19 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $24,480
• − Mortgage interest: −$5,153
• − Property taxes: −$1,380
• − Insurance: −$460
• − Repairs & maintenance: −$1,958
• − Management: −$1,958
• − Depreciation: −$2,676
• Taxable income: $10,893
• Est. tax owed @ 24.0%: −$2,614
• After-tax cash flow: $9,095/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 · 6 photos

Poor 20/100 Extensive rehab

This multi-family property requires extensive repairs and renovations to bring it up to a livable condition. Significant structural and aesthetic improvements are needed to increase its resale and rental value.

Repairs flagged

• Major exterior siding — Significant damage and wear
• Major roof — No roof visible in photos
• Major interior walls and paint — No interior walls or paint visible in photos
• Major bathrooms — No bathrooms visible in photos
• Major kitchen — No kitchen visible in photos
• Major HVAC/mechanicals — No HVAC or mechanicals visible in photos
• Major landscaping — No landscaping or curb appeal visible in photos

Value-add opportunities

• Both exterior siding repair — Improves curb appeal and property value
• Both roof replacement — Essential for structural integrity and property value
• Both interior wall and paint repair — Enhances property value and appeal
• Both bathroom renovation — Improves functionality and property value
• Both kitchen renovation — Enhances functionality and property value
• Both HVAC/mechanical upgrade — Improves comfort and property value
• Both landscaping and curb appeal — Enhances property value and appeal

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Significant damage and wear	Major	$15,000–50,000
roof · No roof visible in photos	Major	$15,000–50,000
interior walls and paint · No interior walls or paint visible in photos	Major	$15,000–50,000
bathrooms · No bathrooms visible in photos	Major	$15,000–50,000
kitchen · No kitchen visible in photos	Major	$15,000–50,000
HVAC/mechanicals · No HVAC or mechanicals visible in photos	Major	$15,000–50,000
landscaping · No landscaping or curb appeal visible in photos	Major	$15,000–50,000
Total estimated repair cost · 7 items		$105,000–350,000

Value-add ROI direction

• Both exterior siding repair — Improves curb appeal and property value ↑
• Both roof replacement — Essential for structural integrity and property value ↑
• Both interior wall and paint repair — Enhances property value and appeal ↑
• Both bathroom renovation — Improves functionality and property value ↑
• Both kitchen renovation — Enhances functionality and property value ↑
• Both HVAC/mechanical upgrade — Improves comfort and property value ↑
• Both landscaping and curb appeal — Enhances property value and appeal ↑

ⓘ 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: Jourdanton ISD
• NCES district ID: 4824960
• Math proficiency: 46% ▼ -3.00%
• Reading proficiency: 44% ▲ 2.00%
• Median HH income: $51,581
• Composite: 38.81/100
• National rank: #4116
• State rank: #258 of 826 in TX

Livability — Jourdanton

• Score: 68/100
• State rank: #474
• US rank: #9531

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Jourdanton, TX
• Population (ZIP): 6,438

Population outlook (Atascosa County) Hauer SSP2

• Today (2025): 57,233 people
• By 2030: 61,729 · +7.9%
• By 2040: 71,122 · +24.3%
• By 2050: 80,906 · +41.4%
• By 2075: 106,134 · +85.4%
• By 2100: 122,415 · +113.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 51% Hispanic / Latino 42% Two or more races 20% Asian 1%
• Hispanic origin (detail): Mexican 36%
• Common ancestry: Slovak 3% Lithuanian 2% Italian 1%
• Foreign-born: 10% · Canada
• Languages at home: 71% English-only · Spanish 27% Tagalog/Filipino 1%

Political lean MEDSL · Atascosa

• 2024 margin: Solid R (+43.3) · D 27.9% · R 71.3%
• 2008→2024 swing: -32.8pp toward R · 2008: -10.5pp · 2024: -43.3pp
• All cycles: 2024: R+43.3 2020: R+34.0 2016: R+29.1 2012: R+18.3 2008: R+10.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -23.13%
• Current HPI: 205.0473
• 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

-59.1% since first listed

7 events — show timeline

• 2025-09-01 Relisted — LERA
• 2025-08-09 Pending — LERA
• 2025-07-15 Price Changed $92,000 LERA
• 2025-05-12 Price Changed $100,000 LERA
• 2025-05-12 Relisted — LERA
• 2025-05-05 Pending — LERA
• 2023-08-24 Listed $225,000 LERA