405 W Lanark St · Queen City, TX 75572

$134,900

3 bd · 2.0 ba · 1,536 sqft · SingleFamily public records · 109 Days on market

Built 1980 0.88 ac lot $88/sqft · 34% below area Est $205k · 34% 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).

• ARV discount +15.0/15.0
• Cash flow +10.8/30.0
• Appreciation +6.8/10.0
• 1% rule +4.3/10.0
• Schools +3.6/10.0
• Livability +3.2/5.0
• DSCR +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Welcome to 405 W Lanark; a property that blends country living with character and customization opportunities! Take full advantage of the home, carport, workshop and two metal outbuildings that are already in place. This property is only 0.3 miles from Hwy 59 making your morning commute to either Atlanta or Texarkana easy! The home is situated on 0.88 acres and has 3 bedrooms, 2 bathrooms, a living room, dining room, kitchen and utility room. Upon entering, step back in time through the solid wood front door that has a beautiful stained glass window and immediately appreciate all the character this property has to offer. The living room has wood paneling with built in shelving and separating the living and dining area is a wall with a cut out of gorgeous wood balusters; you don’t find this in new construction homes! Each bedroom is equipped with a ceiling fan and the primary has an en suite bathroom with built in cabinets and shelving, a shower/tub and walk in closet. The kitchen is well equipped with solid wood cabinetry and wiring for all needed appliances. Not to be missed is the utility room with plenty of room for a full size washer and dryer set and has an extra plug for an additional freezer or refrigerator. Imagine quiet evenings on both the front porch or backporch that spans the length of the home while a portion of the backyard already has a chain link fence for your furry friends. There is a two car carport and two metal outbuildings perfect for storing lawn equipment and gardening supplies. Looking for more space to unleash your creativity? There is an additional large metal workshop that has electricity, two roll up doors and a concrete slab with a metal awning; making this a wonderful indoor/outdoor workspace. This property is a time capsule filled with character and has so many opportunities for customization. It’s just waiting for your creative touch!

Key facts

• Stained glass window
• Carport
• Workshop

Tags

• CARPORT
• WORKSHOP
• TWO METAL OUTBUILDINGS
• SOLID WOOD FRONT DOOR
• STAINED GLASS WINDOW
• WOOD PANELING

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $-62 ($-748/yr) — negative.
• To cash-flow at today's rent, offer at most $124k (8.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $125k (7.3% below list).
• Recommended offer: $123k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#735 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D+, schools D, amenities F.
• Queen City ISD (rural): math 39% / reading 45% proficiency, ranked #355 of 826 in TX (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 65 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 12 units permitted in Cass County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($933 loan paydown + $5k appreciation (3.7% local appreciation)).
• Cass County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (3.7% appreciation + 3.0% rent growth), your $38k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 109 days — a 9% lower offer ($123k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 2.5% of price.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; major 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 $122,759 (9.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 109 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 0.93% ✗
• Cap rate: 5.74%
• Cash-on-cash: -1.98%
• DSCR: 0.91
• GRM: 9.0

CMA / ARV

• ARV (median comp): $204,669
• List price: $134,900
• Delta: -34.09%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

3.69% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 7.7%
• Equity multiple: 1.46×
• Total profit: $17,337
• Equity at exit: $65,940

10-year hold

• IRR: 10.1%
• Equity multiple: 2.63×
• Total profit: $61,460
• Equity at exit: $105,936

Cash invested: $37,772 (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 75572

• Home prices YoY: 2.6%
• Active inventory: 65
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,250 medium
• Mortgage (P&I): −$707
• Tax from tax record: −$286 /mo · $3,434/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$262
• Net cashflow: $-62

Break-even live

Break-even rent $1,329

Max offer price $123,887

Occupancy floor 100%

Sensitivity live

Price	-10% $14	-5% $-24	+0% $-62	+5% $-101	+10% $-139
Rent	-10% $-161	-5% $-112	+0% $-62	+5% $-13	+10% $36
Rate	-1.0pp $6	-0.5pp $-28	base $-62	+0.5pp $-97	+1.0pp $-133

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: $33,725
• Closing costs: $4,047
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
203 Grandview Ave Atlanta, TX	3.0	1.0	1209	$1,250	$1.03	44d	1	1.41mi

Listing history 19 events

1. 2026-06-19
   days on market $134,900 Active 109 DOM
2. 2026-06-18
   days on market $134,900 Active 108 DOM
3. 2026-06-17
   days on market $134,900 Active 107 DOM
4. 2026-06-16
   days on market $134,900 Active 106 DOM
5. 2026-06-15
   days on market $134,900 Active 105 DOM
6. 2026-06-14
   days on market $134,900 Active 103 DOM
7. 2026-06-13
   days on market $134,900 Active 102 DOM
8. 2026-06-10
   days on market $134,900 Active 100 DOM
9. 2026-06-09
   days on market $134,900 Active 99 DOM
10. 2026-06-08
    days on market $134,900 Active 98 DOM
11. 2026-06-07
    days on market $134,900 Active 97 DOM
12. 2026-06-03
    days on market $134,900 Active 93 DOM
13. 2026-06-02
    days on market $134,900 Active 92 DOM
14. 2026-06-01
    days on market $134,900 Active 91 DOM
15. 2026-05-31
    days on market $134,900 Active 90 DOM
16. 2026-05-30
    days on market $134,900 Active 89 DOM
17. 2026-03-02
    listed $134,900 Active 1913-char remark

    Show marketing remark (1913 chars)

    Welcome to 405 W Lanark; a property that blends country living with character and customization opportunities! Take full advantage of the home, carport, workshop and two metal outbuildings that are already in place. This property is only 0.3 miles from Hwy 59 making your morning commute to either Atlanta or Texarkana easy! The home is situated on 0.88 acres and has 3 bedrooms, 2 bathrooms, a living room, dining room, kitchen and utility room. Upon entering, step back in time through the solid wood front door that has a beautiful stained glass window and immediately appreciate all the character this property has to offer. The living room has wood paneling with built in shelving and separating the living and dining area is a wall with a cut out of gorgeous wood balusters; you don’t find this in new construction homes! Each bedroom is equipped with a ceiling fan and the primary has an en suite bathroom with built in cabinets and shelving, a shower/tub and walk in closet. The kitchen is well equipped with solid wood cabinetry and wiring for all needed appliances. Not to be missed is the utility room with plenty of room for a full size washer and dryer set and has an extra plug for an additional freezer or refrigerator. Imagine quiet evenings on both the front porch or backporch that spans the length of the home while a portion of the backyard already has a chain link fence for your furry friends. There is a two car carport and two metal outbuildings perfect for storing lawn equipment and gardening supplies. Looking for more space to unleash your creativity? There is an additional large metal workshop that has electricity, two roll up doors and a concrete slab with a metal awning; making this a wonderful indoor/outdoor workspace. This property is a time capsule filled with character and has so many opportunities for customization. It’s just waiting for your creative touch!

18. 1998-09-24
    soldstatus
19. 1996-07-12
    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: $3,434 · $286/mo
• Projected year-2 tax: $3,434 · $286/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 ≥113°F today · 22 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $15,000
• − Mortgage interest: −$7,556
• − Property taxes: −$3,434
• − Insurance: −$674
• − Repairs & maintenance: −$1,200
• − Management: −$1,200
• − Depreciation: −$3,924
• Taxable loss: −$2,990
• Est. tax savings @ 24.0%: +$718
• After-tax cash flow: $-31/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: Queen City ISD
• NCES district ID: 4836210
• Math proficiency: 39% ▼ -3.00%
• Reading proficiency: 45% ▼ -4.00%
• Median HH income: $43,663
• Composite: 35.53/100
• National rank: #4908
• State rank: #355 of 826 in TX

Livability — Queen City

• Score: 64/100
• State rank: #735
• US rank: #13663

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Queen City, TX
• Population (ZIP): 2,942

Population outlook (Cass County) Hauer SSP2

• Today (2025): 29,998 people
• By 2030: 29,583 · -1.4%
• By 2040: 28,512 · -5.0%
• By 2050: 27,230 · -9.2%
• By 2075: 24,917 · -16.9%
• By 2100: 21,582 · -28.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Black 16% Two or more races 3%
• Common ancestry: Serbian 1% Slovak 1% Iranian 1%
• Foreign-born: 2%
• Languages at home: 93% English-only · German/W. Germanic 6% Arabic 1%

Political lean MEDSL · Cass

• 2024 margin: Solid R (+65.7) · D 17.0% · R 82.7%
• 2008→2024 swing: -25.2pp toward R · 2008: -40.4pp · 2024: -65.7pp
• All cycles: 2024: R+65.7 2020: R+59.1 2016: R+59.7 2012: R+49.5 2008: R+40.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.69%
• Current HPI: 143.673
• 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

3 events — show timeline

• 2026-03-02 Listed $134,900 LAAR
• 1998-09-24 Sold (Public Records) — Public Records
• 1996-07-12 Sold (Public Records) — Public Records

Property tax history

+2.9%/yr

Latest (2025): $3,434 · +0.7% YoY. Source: county tax records.