623, 625, 627 Harrell St · Longview, TX 75601

$250,000

None bd · 2.0 ba · 1,700 sqft · MultiFamily public records · 83 Days on market

Built 1953 ↓ 16% since listing

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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 +27.3/30.0
• DSCR +9.5/10.0
• ARV discount +7.5/15.0
• 1% rule +6.5/10.0
• Schools +4.0/10.0
• Livability +3.7/5.0
• Rent growth +3.3/5.0
• 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

To be sold in a package with 623, 625 and 627 Harrell! Full list price $250,000. Excellent income producing duplexes in North Longview! ALL UNITS leased with room to improve/increase! Location is fantastic and close to everything. TOTAL grosses $3,825/Month.

Key facts

• Built 1953
• Listed 83 days

What this means for you Summary

Snapshot

• This is a ?-bed/2.0-bath multifamily listed at $250k.

Deal economics

• At list price, monthly cash flow is $722 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $250k).
• Recommended offer: $235k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.8% vs local median 3.0% in Longview — 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 73/100 on livability (#213 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, crime D+, schools D.
• Longview ISD (urban): math 49% / reading 46% proficiency, ranked #244 of 826 in TX (top 30%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+3.3%/yr); 153 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 193 units permitted in Gregg County in 2024 (0 in 5+ unit buildings).
• At $2,868/mo this rent would consume 52% of the median local household income ($66k/yr) (locally 761% 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.
• At projected returns (-3.0% appreciation + 3.3% rent growth), your $70k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 83 days — a 6% lower offer ($235k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 57% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $235,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 83 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1953 — 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 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?
6. 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?
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: 1.15% ✓
• Cap rate: 9.76%
• Cash-on-cash: 12.38%
• DSCR: 1.55
• GRM: 7.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.29% rent growth · sell at horizon

5-year hold

• IRR: 2.3%
• Equity multiple: 1.09×
• Total profit: $6,271
• Equity at exit: $37,276

10-year hold

• IRR: 12.1%
• Equity multiple: 1.97×
• Total profit: $67,888
• 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 75601

• Home prices YoY: -29.9%
• Rents YoY: 3.3%
• Active inventory: 153
• Price-to-rent: 21.8×

Monthly cashflow live

• Estimated rent: $2,868 medium
• Mortgage (P&I): −$1,311
• Tax from tax record: −$128 /mo · $1,537/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$602
• Net cashflow: $722

Break-even live

Break-even rent $1,954

Max offer price $250,000

Occupancy floor 70%

Sensitivity live

Price	-10% $864	-5% $793	+0% $722	+5% $652	+10% $581
Rent	-10% $496	-5% $609	+0% $722	+5% $836	+10% $949
Rate	-1.0pp $848	-0.5pp $786	base $722	+0.5pp $658	+1.0pp $592

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$2,868
Total (3 units)			$2,868

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: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
607 Texas St Longview, TX	3.0	2.0	1090	$1,249	$1.15	14d	1	0.11mi
1507 N Eastman Rd Longview, TX	1.0–2.0	1.0	935	$1,251	$1.34	14d	7	0.74mi
1609 Everwood Ct Longview, TX	3.0	2.0	1505	$2,495	$1.66	14d	1	0.97mi
1912 Sunshine Sq Longview, TX	3.0	2.0	1927	$1,750	$0.91	14d	1	1.26mi
1813 Riverstone Longview, TX	2.0	2.0	1228	$1,800	$1.47	14d	1	1.37mi
3100 Mesa Dr Longview, TX	3.0	2.0	1234	$2,250	$1.82	44d	1	1.47mi

Listing history 7 events

1. 2026-06-03
   days on market $250,000 Active 83 DOM
2. 2026-06-02
   days on market $250,000 Active 82 DOM
3. 2026-06-01
   days on market $250,000 Active 81 DOM
4. 2026-05-31
   days on market $250,000 Active 80 DOM
5. 2026-05-30
   days on market $250,000 Active 79 DOM
6. 2026-04-08
   price $250,000 258-char remark

   Show marketing remark (258 chars)

   To be sold in a package with 623, 625 and 627 Harrell! Full list price $250,000. Excellent income producing duplexes in North Longview! ALL UNITS leased with room to improve/increase! Location is fantastic and close to everything. TOTAL grosses $3,825/Month.

7. 2026-03-12
   listed $299,000 Active 258-char remark

   Show marketing remark (258 chars)

   To be sold in a package with 623, 625 and 627 Harrell! Full list price $250,000. Excellent income producing duplexes in North Longview! ALL UNITS leased with room to improve/increase! Location is fantastic and close to everything. TOTAL grosses $3,825/Month.

ⓘ 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: $1,537 · $128/mo
• Projected year-2 tax: $4,575 · $381/mo
• Expected delta: +$3,038/yr (+$253/mo · 197.6%)

ⓘ 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 2/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥111°F today · 25 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 57% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $34,416
• − Mortgage interest: −$14,004
• − Property taxes: −$1,537
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,753
• − Management: −$2,753
• − Depreciation: −$7,273
• Taxable income: $4,846
• Est. tax owed @ 24.0%: −$1,163
• After-tax cash flow: $7,506/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: Longview ISD
• NCES district ID: 4828110
• Math proficiency: 49% ▼ -4.00%
• Reading proficiency: 46% ▼ -1.00%
• Median HH income: $39,837
• Composite: 39.76/100
• National rank: #3889
• State rank: #244 of 826 in TX

Livability — Longview

• Score: 73/100
• State rank: #213
• US rank: #5287

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Longview, TX
• County: Gregg County · 128,826 people
• City population: 103,792
• Metro: Longview, TX
• Population (ZIP): 15,780
• Household income: $65,700
• Rent vs Own: 39.1% rent · 60.9% own
• Severe rent burden: 761.0

Population outlook (Gregg County) Hauer SSP2

• Today (2025): 125,947 people
• By 2030: 126,542 · +0.5%
• By 2040: 127,311 · +1.1%
• By 2050: 127,289 · +1.1%
• By 2075: 124,954 · -0.8%
• By 2100: 113,737 · -9.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: White 53% Black 21% Hispanic / Latino 21% Two or more races 13% Asian 3%
• Hispanic origin (detail): Mexican 17%
• Common ancestry: Lithuanian 3% Slovak 3% Romanian 1%
• Foreign-born: 10% · Canada, Vietnam
• Languages at home: 81% English-only · Spanish 16% Other Indo-European 1% Other Asian/Pacific 1%

Political lean MEDSL · Gregg

• 2024 margin: Solid R (+42.2) · D 28.5% · R 70.7%
• 2008→2024 swing: -4.6pp toward R · 2008: -37.6pp · 2024: -42.2pp
• All cycles: 2024: R+42.2 2020: R+36.9 2016: R+41.3 2012: R+39.5 2008: R+37.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -107.73%
• Current HPI: 252.0752
• Rent YoY: ▲ 3.29%
• Metro: Longview, 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

-16.4% since first listed

2 events — show timeline

• 2026-04-08 Price Changed $250,000 LAAR
• 2026-03-12 Listed $299,000 LAAR

Property tax history

+8.8%/yr

Latest (2025): $1,537 · +26.4% YoY. Source: county tax records.