508 Summit St · Farmersville, TX 75442

$79,000

2 bd · 2.0 ba · 999 sqft · SingleFamily public records · 15 Days on market

Built 1923 8,712 sqft lot $79/sqft · 64% below area ↓ 21% 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 +3.7/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This home is a prime investment opportunity. Offered as-is and priced below market value, this property is a blank canvas for the savvy investor looking to customize, renovate, or redevelop for maximum returns. Situated in a convenient Farmersville location with close proximity to US-380, the property offers excellent accessibility and strong appeal for future resale or rental potential. Nestled in a growing area with easy access to shopping, dining, and everyday amenities, it provides a strategic location with promising upside. Ideal for those seeking to add value through renovations or redevelopment, this property invites you to capitalize on a rare opportunity in a high-demand market.

Key facts

• Convenient location
• Strategic location
• 8,712 sq ft lot

Tags

• INVESTMENT OPPORTUNITY
• CONVENIENT LOCATION
• EXCELLENT ACCESSIBILITY
• EASY ACCESS TO SHOPPING
• DINING AND EVERYDAY AMENITIES
• STRATEGIC LOCATION

Property features AI

Finance

• Other: Possession at closing/funding; Listing is active and offered under exclusive right to sell
• Financial info: Cash offers only (listing terms indicate Cash); Treat as clear loan type; No second mortgage reported
• HOA & community: No association

Exterior

• Parking: No garage; Off-street parking; No carport spaces
• Utilities: No utilities listed; Not in a municipal utility district
• Home design: Single family residence (residential); Built in 1923; Not attached to another property; Subdivision: W B Williams Surv
• Construction: Year built 1923
• Exterior features: Lot less than 0.5 acre (approximately 0.20 acres); Public records lot size source

Interior

• Kitchen: No appliances included
• Bedrooms: Primary bedroom (10 x 10) on level 1; Total of 2 bedrooms
• Bathrooms: 2 full bathrooms
• Interior features: One-level layout; Accessible approach with ramp; One living area; Other interior features
• Laundry & utility: No utilities listed

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $79k.

Deal economics

• At list price, monthly cash flow is $464 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $79k).
• Recommended offer: $78k (1.5% below list) — sets the bar for market timing.
• Cap rate 13.3% vs local median 4.0% in Farmersville — 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 69/100 on livability (#425 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: employment D, amenities F, commute F.
• Farmersville ISD (town): math 38% / reading 47% proficiency, ranked #298 of 826 in TX (top 36%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Tatum El (519 students, 64% FRL) — zoned schools average 64% FRL vs 42% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 415 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 19,194 units permitted in Collin County in 2024 (3,988 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $546 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Collin County population projected at +60% 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 ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($78k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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: property tax is 3.4% of price; built in 1923 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; 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 $77,815 (1.5% below list)

Questions for the listing agent

1. Built in 1923 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.82% ✓
• Cap rate: 13.34%
• Cash-on-cash: 25.16%
• DSCR: 2.12
• GRM: 4.6

CMA / ARV

• ARV (median comp): $220,394
• List price: $79,000
• Delta: -61.43%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
210 Neathery St	0.54mi	2/2.0	1,030 (+3%)	9mo	$205,000	$199	62
1117 County Road 1077	0.36mi	3/2.0 (+1)	1,120 (+12%)	3mo	$300,000	$268	55
130 N Washington St	0.61mi	2/1.0	1,010 (+1%)	19mo	$250,000	$248	50
214 N Rike St	0.62mi	2/1.0	1,102 (+10%)	18mo	$209,500	$190	35

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: 18.8%
• Equity multiple: 1.76×
• Total profit: $16,839
• Equity at exit: $11,779

10-year hold

• IRR: 27.2%
• Equity multiple: 3.40×
• Total profit: $53,108
• Equity at exit: $6,830

Cash invested: $22,120 (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 75442

• Home prices YoY: -8.3%
• Active inventory: 415
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $1,439 high
• Mortgage (P&I): −$414
• Tax from tax record: −$226 /mo · $2,709/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$302
• Net cashflow: $464

Break-even live

Break-even rent $852

Max offer price $79,000

Occupancy floor 63%

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: $19,750
• Closing costs: $2,370
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
215 Orange St Farmersville, TX	2.0	1.0	765	$1,595	$2.08	4d	1	0.34mi
605 Orange Ave Farmersville, TX	2.0	1.0	986	$1,500	$1.52	20d	1	0.37mi
605 Orange Ave Farmersville, TX	2.0	1.0	986	$1,500	$1.52	24d	1	0.37mi
121 Windom St Unit A Farmersville, TX	2.0	1.0	900	$1,750	$1.94	43d	1	0.66mi
121 Windom St Unit B Farmersville, TX	1.0	1.0	700	$875	$1.25	43d	1	0.66mi
300 S State Highway 78 #117 Farmersville, TX	2.0	1.0	780	$800	$1.03	24d	1	1.21mi
300 S State Highway 78 Unit 201 Farmersville, TX	1.0	1.0	600	$700	$1.17	24d	1	1.23mi
1009 Gaddy St Farmersville, TX	2.0	1.0	850	$1,104	$1.30	1d	5	1.30mi

Listing history 29 events

1. 2026-06-18
   days on market $79,000 Active 15 DOM
2. 2026-06-17
   days on market $79,000 Active 14 DOM
3. 2026-06-16
   days on market $79,000 Active 13 DOM
4. 2026-06-15
   days on market $79,000 Active 12 DOM
5. 2026-06-13
   days on market $79,000 Active 10 DOM
6. 2026-06-13
   days on market $79,000 Active 9 DOM
7. 2026-06-09
   days on market $79,000 Active 6 DOM
8. 2026-06-08
   days on market $79,000 Active 5 DOM
9. 2026-06-07
   days on market $79,000 Active 4 DOM
10. 2026-06-04
    pricestatusdays on marketlisting id $79,000 Active 1 DOM
11. 2026-05-13
    status Pending 696-char remark
12. 2026-05-06
    price $84,997 696-char remark
13. 2026-04-27
    price $89,997 696-char remark
14. 2026-04-20
    price $94,997 696-char remark
15. 2026-04-02
    listed $99,997 Active 696-char remark
16. 2026-03-20
    soldstatus
17. 2026-03-11
    soldstatus
18. 2026-03-11
    soldstatus
19. 2026-03-09
    soldstatus
20. 2026-03-09
    soldstatus
21. 2026-03-09
    soldstatus
22. 2026-03-09
    soldstatus
23. 2026-03-09
    soldstatus
24. 2026-03-09
    soldstatus
25. 2026-03-06
    soldstatus
26. 2026-03-06
    soldstatus
27. 2026-03-06
    soldstatus
28. 2026-03-06
    soldstatus
29. 2026-03-06
    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: $2,709 · $226/mo
• Projected year-2 tax: $2,709 · $226/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 6/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 23 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,267
• − Mortgage interest: −$4,425
• − Property taxes: −$2,709
• − Insurance: −$395
• − Repairs & maintenance: −$1,381
• − Management: −$1,381
• − Depreciation: −$2,298
• Taxable income: $4,677
• Est. tax owed @ 24.0%: −$1,123
• After-tax cash flow: $4,443/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: Farmersville ISD
• NCES district ID: 4819080
• Math proficiency: 38% ▼ -16.00%
• Reading proficiency: 47% ▼ -7.00%
• Median HH income: $56,626
• Composite: 37.17/100
• National rank: #4479
• State rank: #298 of 826 in TX

Livability — Farmersville

• Score: 69/100
• State rank: #425
• US rank: #8723

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Farmersville, TX
• County: Collin County · 1,159,394 people
• City population: 10,805
• Metro: Dallas-Fort Worth-Arlington, TX
• Population (ZIP): 10,805
• Household income: $95,250
• Rent vs Own: 18.4% rent · 81.6% own
• Severe rent burden: 105.0

Population outlook (Collin County) Hauer SSP2

• Today (2025): 1,210,074 people
• By 2030: 1,358,201 · +12.2%
• By 2040: 1,654,061 · +36.7%
• By 2050: 1,937,359 · +60.1%
• By 2075: 2,567,039 · +112.1%
• By 2100: 2,952,048 · +144.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 25% Two or more races 13% Black 5% Pacific Islander 2%
• Hispanic origin (detail): Mexican 20% Puerto Rican 5%
• Common ancestry: Italian 3% Serbian 2% Romanian 2%
• Foreign-born: 5% · Canada
• Languages at home: 84% English-only · Spanish 14% German/W. Germanic 1%

Political lean MEDSL · Collin

• 2024 margin: R (+11.1) · D 43.1% · R 54.3% · Other 2.6%
• 2008→2024 swing: +14.4pp toward D · 2008: -25.6pp · 2024: -11.1pp
• All cycles: 2024: R+11.1 2020: R+4.3 2016: R+17.0 2012: R+31.6 2008: R+25.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -27.67%
• Current HPI: 304.6738
• Rent YoY: —
• Metro: Dallas-Fort Worth-Arlington, 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

-21.0% since first listed

21 events — show timeline

• 2026-06-03 Listed $79,000 NTREIS
• 2026-05-13 Pending — NTREIS
• 2026-05-13 Listing Removed — NTREIS
• 2026-05-06 Price Changed $84,997 NTREIS
• 2026-04-27 Price Changed $89,997 NTREIS
• 2026-04-20 Price Changed $94,997 NTREIS
• 2026-04-02 Listed $99,997 NTREIS
• 2026-03-20 Sold (Public Records) — Public Records
• 2026-03-11 Sold (Public Records) — Public Records
• 2026-03-11 Sold (Public Records) — Public Records
• 2026-03-09 Sold (Public Records) — Public Records
• 2026-03-09 Sold (Public Records) — Public Records
• 2026-03-09 Sold (Public Records) — Public Records
• 2026-03-09 Sold (Public Records) — Public Records
• 2026-03-09 Sold (Public Records) — Public Records
• 2026-03-09 Sold (Public Records) — Public Records
• 2026-03-06 Sold (Public Records) — Public Records
• 2026-03-06 Sold (Public Records) — Public Records
• 2026-03-06 Sold (Public Records) — Public Records
• 2026-03-06 Sold (Public Records) — Public Records
• 2026-03-06 Sold (Public Records) — Public Records

Property tax history

+11.2%/yr

Latest (2025): $2,709 · +6.4% YoY. Source: county tax records.