101 N Third St · Mertzon, TX 76941

$47,900

3 bd · 2.0 ba · 1,352 sqft · SingleFamily public records · 94 Days on market

Built 1970 0.40 ac lot $35/sqft · 68% below area ↓ 4% 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
• Appreciation +5.7/10.0
• Schools +4.7/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

This 3-bedroom, 2-bath home built in 1970 offers 1,352 sq ft and great potential for buyers looking to renovate and add value. Major updates were completed approximately 3-4 years ago, including the roof, windows, plumbing, electrical, siding, doors, and insulatoin. The crawlspace foundation has been reinforced, and the water heater is approximately 7 years old. The interior is ready for a full renovation, making this a great opportunity to customize and create your ideal space or investment property. Contact your favorite agent to schedule a private showing!

Key facts

• Major updates
• 0.4 acre lot
• Built 1970

Tags

• MAJOR UPDATES
• FULL RENOVATION OPPORTUNITY

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $48k.

Deal economics

• At list price, monthly cash flow is $730 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $48k).
• Recommended offer: $44k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 67/100 on livability (#540 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, health & safety C-, crime F.
• Irion County ISD (rural): math 50% / reading 55% proficiency, ranked #272 of 1,141 in TX (top 24%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 20 active listings in the ZIP.

Forward outlook

• In year one you build about $1k of equity ($331 loan paydown + $694 appreciation (1.4% local appreciation)).
• Irion County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.4% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 94 days — a 9% lower offer ($44k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $43,589 (9.0% below list)

Questions for the listing agent

1. It's been on market 94 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 2.82% ✓
• Cap rate: 24.57%
• Cash-on-cash: 65.28%
• DSCR: 3.90
• GRM: 3.0

CMA / ARV

• ARV (median comp): $149,001
• List price: $47,900
• Delta: -67.85%
• Verdict: UNDERPRICED
• Comps: 9 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
301 W Duncan Ave	0.40mi	3/2.0	1,348 (-0%)	0mo	$215,000	$159	80
301 N 1st St	0.24mi	3/4.0	1,370 (+1%)	2mo	$260,000	$190	77
405 W James Ave	0.70mi	2/4.0 (-1)	1,498 (+11%)	2mo	$65,000	$43	34

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

1.45% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 68.6%
• Equity multiple: 4.61×
• Total profit: $48,452
• Equity at exit: $17,479

10-year hold

• IRR: 69.3%
• Equity multiple: 9.38×
• Total profit: $112,457
• Equity at exit: $24,126

Cash invested: $13,412 (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 76941

• Home prices YoY: 1.1%
• Active inventory: 20
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $1,352 medium
• Mortgage (P&I): −$251
• Tax from tax record: −$67 /mo · $808/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$284
• Net cashflow: $730

Break-even live

Break-even rent $428

Max offer price $47,900

Occupancy floor 41%

Sensitivity live

Price	-10% $757	-5% $743	+0% $730	+5% $716	+10% $703
Rent	-10% $623	-5% $676	+0% $730	+5% $783	+10% $836
Rate	-1.0pp $754	-0.5pp $742	base $730	+0.5pp $717	+1.0pp $705

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: $11,975
• Closing costs: $1,437
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-19
   days on market $47,900 Active 94 DOM
2. 2026-06-18
   days on market $47,900 Active 93 DOM
3. 2026-06-17
   days on market $47,900 Active 92 DOM
4. 2026-06-16
   days on market $47,900 Active 91 DOM
5. 2026-06-15
   days on market $47,900 Active 90 DOM
6. 2026-06-14
   days on market $47,900 Active 88 DOM
7. 2026-06-13
   days on market $47,900 Active 87 DOM
8. 2026-06-10
   days on market $47,900 Active 85 DOM
9. 2026-06-09
   days on market $47,900 Active 84 DOM
10. 2026-06-08
    days on market $47,900 Active 83 DOM
11. 2026-06-07
    days on market $47,900 Active 82 DOM
12. 2026-06-03
    days on market $47,900 Active 78 DOM
13. 2026-06-02
    days on market $47,900 Active 77 DOM
14. 2026-06-01
    days on market $47,900 Active 76 DOM
15. 2026-05-31
    days on market $47,900 Active 75 DOM
16. 2026-05-30
    days on market $47,900 Active 74 DOM
17. 2026-04-15
    price $47,900 565-char remark

    Show marketing remark (565 chars)

    This 3-bedroom, 2-bath home built in 1970 offers 1,352 sq ft and great potential for buyers looking to renovate and add value. Major updates were completed approximately 3-4 years ago, including the roof, windows, plumbing, electrical, siding, doors, and insulatoin. The crawlspace foundation has been reinforced, and the water heater is approximately 7 years old. The interior is ready for a full renovation, making this a great opportunity to customize and create your ideal space or investment property. Contact your favorite agent to schedule a private showing!

18. 2026-03-31
    price $47,999 565-char remark

    Show marketing remark (565 chars)

    This 3-bedroom, 2-bath home built in 1970 offers 1,352 sq ft and great potential for buyers looking to renovate and add value. Major updates were completed approximately 3-4 years ago, including the roof, windows, plumbing, electrical, siding, doors, and insulatoin. The crawlspace foundation has been reinforced, and the water heater is approximately 7 years old. The interior is ready for a full renovation, making this a great opportunity to customize and create your ideal space or investment property. Contact your favorite agent to schedule a private showing!

19. 2026-03-11
    soldstatus
20. 2026-03-05
    listed $50,000 Active 565-char remark

    Show marketing remark (565 chars)

    This 3-bedroom, 2-bath home built in 1970 offers 1,352 sq ft and great potential for buyers looking to renovate and add value. Major updates were completed approximately 3-4 years ago, including the roof, windows, plumbing, electrical, siding, doors, and insulatoin. The crawlspace foundation has been reinforced, and the water heater is approximately 7 years old. The interior is ready for a full renovation, making this a great opportunity to customize and create your ideal space or investment property. Contact your favorite agent to schedule a private showing!

ⓘ 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: $808 · $67/mo
• Projected year-2 tax: $877 · $73/mo
• Expected delta: +$69/yr (+$6/mo · 8.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate 20% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 6/10 Major 7 d/yr ≥104°F today · 23 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 12% 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: $16,224
• − Mortgage interest: −$2,683
• − Property taxes: −$808
• − Insurance: −$240
• − Repairs & maintenance: −$1,298
• − Management: −$1,298
• − Depreciation: −$1,393
• Taxable income: $8,505
• Est. tax owed @ 24.0%: −$2,041
• After-tax cash flow: $6,715/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: Irion County ISD
• NCES district ID: 4830360
• Math proficiency: 50% ▬ 0.00%
• Reading proficiency: 55% ▬ 0.00%
• Median HH income: $51,367
• Composite: 46.9/100
• National rank: #5180
• State rank: #272 of 1141 in TX

Livability — Mertzon

• Score: 67/100
• State rank: #540
• US rank: #10515

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mertzon, TX
• Population (ZIP): 1,216

Population outlook (Irion County) Hauer SSP2

• Today (2025): 1,467 people
• By 2030: 1,433 · -2.3%
• By 2040: 1,363 · -7.1%
• By 2050: 1,287 · -12.3%
• By 2075: 1,081 · -26.3%
• By 2100: 780 · -46.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (66%)
• Race & ethnicity: White 66% Hispanic / Latino 33% Two or more races 4%
• Hispanic origin (detail): Mexican 33%
• Common ancestry: Slovak 3% Russian 1%
• Foreign-born: 4% · Canada
• Languages at home: 74% English-only · Spanish 26%

Political lean MEDSL · Irion

• 2024 margin: Solid R (+75.6) · D 12.1% · R 87.7%
• 2008→2024 swing: -16.8pp toward R · 2008: -58.8pp · 2024: -75.6pp
• All cycles: 2024: R+75.6 2020: R+71.9 2016: R+75.0 2012: R+70.6 2008: R+58.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.45%
• Current HPI: 139.9318
• 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

-4.2% since first listed

4 events — show timeline

• 2026-04-15 Price Changed $47,900 SAAR TX
• 2026-03-31 Price Changed $47,999 SAAR TX
• 2026-03-11 Sold (Public Records) — Public Records
• 2026-03-05 Listed $50,000 SAAR TX

Property tax history

+5.2%/yr

Latest (2025): $808 · +3.0% YoY. Source: county tax records.