2202 Alabama St · Big Spring, TX 79720

$157,000

3 bd · 2.0 ba · 2,169 sqft · SingleFamily · 38 Days on market

Built 1958 Fair condition 8,059 sqft lot $72/sqft · 29% below area Est $221k · 29% under

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Why this score? — see what drove the C+ 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 +24.8/30.0
• ARV discount +15.0/15.0
• DSCR +8.0/10.0
• 1% rule +6.4/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Big Spring opportunity with backyard energy! This 3-bedroom, 2-bath home offers an open floor plan, pool, and outdoor kitchen setup—ready for someone with vision to bring it back to life. The property does have deferred maintenance, but the layout and outdoor features give it strong potential. Conveniently located near H-E-B, Walmart, Spring Town Plaza, Comanche Trail Park, Comanche Trail Lake, Big Spring State Park, and Hangar 25 Air Museum.

Key facts

• Open floor plan
• Pool
• Conveniently located

Tags

• OPEN FLOOR PLAN
• POOL
• OUTDOOR KITCHEN SETUP
• CONVENIENTLY LOCATED

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; One-story; Brick veneer construction
• Construction: Composition roof; Slab foundation; Built with brick veneer
• Exterior features: Covered patio/porch; Deck; Wood fencing; In-ground private pool

Interior

• Kitchen: Dishwasher
• Flooring: Hardwood floors
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Electric heating; Cooling with ceiling fans
• Interior features: Ceiling fan(s); Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $157k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $333 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $157k).
• Recommended offer: $152k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#948 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, crime F, amenities F.
• Big Spring ISD (town): math 29% / reading 30% proficiency, ranked #641 of 826 in TX (top 78%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Big Spring J H (math 25% / reading 34%, grade F, #1,077 of 1,662 statewide, top 66%, 516 students, 70% FRL); Big Spring H S (math 23% / reading 30%, grade F, #1,228 of 1,632 statewide, top 76%, 1,084 students, 67% FRL).
• Market conditions: 266 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 69 units permitted in Howard County in 2024 (5 in 5+ unit buildings).
• This rent runs 31% of the median local income ($69k/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.
• Howard County population projected at +42% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($152k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $152,290 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Crime grade is F 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?
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 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: 1.14% ✓
• Cap rate: 8.84%
• Cash-on-cash: 9.08%
• DSCR: 1.40
• GRM: 7.3

CMA / ARV

• ARV (median comp): $221,140
• List price: $157,000
• Delta: -29.00%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -2.6%
• Equity multiple: 0.90×
• Total profit: $-4,228
• Equity at exit: $23,409

10-year hold

• IRR: 7.2%
• Equity multiple: 1.54×
• Total profit: $23,709
• Equity at exit: $13,574

Cash invested: $43,960 (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 79720

• Active inventory: 266
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,794 medium
• Mortgage (P&I): −$823
• Tax est. 1.5%: −$196 /mo · $2,355/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$377
• Net cashflow: $333

Break-even live

Break-even rent $1,373

Max offer price $157,000

Occupancy floor 76%

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: $39,250
• Closing costs: $4,710
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3233 Fenn St Big Spring, TX	4.0	2.0	2027	$2,300	$1.13	43d	1	0.83mi
1206 E 11th Pl Big Spring, TX	3.0	2.0	1674	$1,700	$1.02	24d	1	0.84mi
1009 E 15th St Big Spring, TX	2.0	2.0	1486	$1,350	$0.91	24d	1	0.94mi

Listing history 16 events

1. 2026-06-19
   days on market $157,000 Active 38 DOM
2. 2026-06-18
   days on market $157,000 Active 37 DOM
3. 2026-06-17
   days on market $157,000 Active 36 DOM
4. 2026-06-16
   days on market $157,000 Active 35 DOM
5. 2026-06-15
   days on market $157,000 Active 34 DOM
6. 2026-06-14
   days on market $157,000 Active 32 DOM
7. 2026-06-12
   days on market $157,000 Active 31 DOM
8. 2026-06-09
   days on market $157,000 Active 28 DOM
9. 2026-06-08
   days on market $157,000 Active 27 DOM
10. 2026-06-07
    days on market $157,000 Active 26 DOM
11. 2026-06-05
    days on market $157,000 Active 23 DOM
12. 2026-06-02
    days on market $157,000 Active 21 DOM
13. 2026-06-01
    days on market $157,000 Active 20 DOM
14. 2026-05-31
    days on market $157,000 Active 19 DOM
15. 2026-05-30
    days on market $157,000 Active 18 DOM
16. 2026-05-12
    listed $157,000 Active 452-char remark

ⓘ 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 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 9/10 Extreme
• 🌡 Heat 6/10 Major 7 d/yr ≥102°F today · 22 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 3% 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: $21,534
• − Mortgage interest: −$8,794
• − Property taxes: −$2,355
• − Insurance: −$785
• − Repairs & maintenance: −$1,723
• − Management: −$1,723
• − Depreciation: −$4,567
• Taxable income: $1,587
• Est. tax owed @ 24.0%: −$381
• After-tax cash flow: $3,611/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 · 18 photos

Fair 45/100 Moderate rehab

This 3-bedroom, 2-bath home in Big Spring, TX, has potential for significant value increase with moderate renovations. The interior needs fresh paint, updated fixtures, and new flooring, while the exterior could benefit from landscaping and curb appeal improvements.

Repairs flagged

• Moderate kitchen cabinets — outdated and worn
• Moderate bathroom fixtures — outdated and worn
• Minor exterior siding — weathered
• Minor landscaping — overgrown yard

Value-add opportunities

• Both Paint interior walls — Fresh paint can make a significant difference in the home's appearance
• Both Replace carpeted flooring with hardwood or tile — Hardwood or tile flooring can increase both resale and rental value
• Both Replace outdated kitchen cabinets with modern ones — Modern cabinets can significantly enhance the home's appeal
• Both Replace outdated bathroom fixtures with modern ones — Modern fixtures can significantly enhance the home's appeal
• Both Landscaping and curb appeal improvements — A well-maintained yard and curb appeal can increase both resale and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · outdated and worn	Moderate	$3,000–15,000
bathroom fixtures · outdated and worn	Moderate	$3,000–15,000
exterior siding · weathered	Minor	$500–3,000
landscaping · overgrown yard	Minor	$500–3,000
Total estimated repair cost · 4 items		$7,000–36,000

Value-add ROI direction

• Both Paint interior walls — Fresh paint can make a significant difference in the home's appearance ↑
• Both Replace carpeted flooring with hardwood or tile — Hardwood or tile flooring can increase both resale and rental value ↑
• Both Replace outdated kitchen cabinets with modern ones — Modern cabinets can significantly enhance the home's appeal ↑
• Both Replace outdated bathroom fixtures with modern ones — Modern fixtures can significantly enhance the home's appeal ↑
• Both Landscaping and curb appeal improvements — A well-maintained yard and curb appeal can increase both resale and 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: Big Spring ISD
• NCES district ID: 4810200
• Math proficiency: 29% ▼ -1.00%
• Reading proficiency: 30% ▲ 4.00%
• Median HH income: $42,916
• Composite: 25.11/100
• National rank: #7529
• State rank: #641 of 826 in TX

Livability — Big Spring

• Score: 62/100
• State rank: #948
• US rank: #16886

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Big Spring, TX
• County: Howard County · 29,936 people
• City population: 29,936
• Metro: Big Spring, TX
• Population (ZIP): 29,936
• Household income: $68,785
• Rent vs Own: 30.8% rent · 69.2% own
• Severe rent burden: 638.0

Population outlook (Howard County) Hauer SSP2

• Today (2025): 43,396 people
• By 2030: 46,792 · +7.8%
• By 2040: 54,096 · +24.7%
• By 2050: 61,707 · +42.2%
• By 2075: 79,809 · +83.9%
• By 2100: 87,385 · +101.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: Hispanic / Latino 45% White 45% Two or more races 17% Black 5% Asian 1%
• Hispanic origin (detail): Mexican 37%
• Common ancestry: Slovak 1% Italian 1% Lithuanian 1%
• Foreign-born: 10% · Canada
• Languages at home: 71% English-only · Spanish 28%

Political lean MEDSL · Howard

• 2024 margin: Solid R (+62.8) · D 18.2% · R 81.1%
• 2008→2024 swing: -16.6pp toward R · 2008: -46.3pp · 2024: -62.8pp
• All cycles: 2024: R+62.8 2020: R+58.4 2016: R+56.0 2012: R+58.2 2008: R+46.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -207.13%
• Current HPI: 140.8159
• Rent YoY: —
• Metro: Big Spring, 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

1 event — show timeline

• 2026-05-12 Listed $157,000 PBBOR