405 S Colorado St · Whitney, TX 76692

$39,000

3 bd · 2.0 ba · 1,780 sqft · SingleFamily public records · 1 Days on market

Built 1945 5,532 sqft lot ↓ 44% 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
• Livability +3.6/5.0
• Schools +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Owner Financing Available!! More photos coming soon. Are you looking for a project, a flip, or the perfect build site? 405 S Colorado in Lake Whitney offers a 3-bedroom, 2-bath home surrounded by new construction and just minutes from Whitney State Park and Whitney Dam. The property is in very rough condition but its location provides strong potential for future use, whether you’re starting fresh or taking on a project.

Key facts

• Whitney state park
• Build site play
• Whitney dam

Tags

• FULL RENOVATION NEEDED
• NEAR LAKE WHITNEY
• WHITNEY STATE PARK
• WHITNEY DAM
• BUILD SITE PLAY

Property features AI

Finance

• Financial info: Treat as clear loan type; No second mortgage
• HOA & community: No homeowners association

Exterior

• Parking: Covered parking for 2 vehicles; 2-car carport; Driveway and off-street parking
• Utilities: Utilities: see remarks/other; Not in a municipal utility district
• Home design: Single-family residence; Residential property; Built in 1945; One story
• Construction: Other roof; Other foundation
• Exterior features: Lot in Greenwade subdivision; Lot measures approximately 5,532 square feet

Interior

• Kitchen: No appliances included
• Bedrooms: 3 bedrooms (Primary bedroom located on level 1)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Other heating; Other cooling
• Interior features: One-level layout; Other interior features
• Laundry & utility: No laundry appliances listed

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $39k.

Deal economics

• At list price, monthly cash flow is $859 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $39k).
• Cap rate 32.7% vs local median 3.0% in Whitney — 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 71/100 on livability (#282 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A-; Watch: amenities F, commute F, employment D-.
• Whitney ISD (rural): math 42% / reading 41% proficiency, ranked #378 of 826 in TX (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Whitney El (393 students, 74% FRL) — zoned schools average 74% FRL vs 55% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 638 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 65 units permitted in Hill County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $270 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Hill County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 2y ago 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 3.2% of price; built in 1945 — 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→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $39,000

Questions for the listing agent

1. Built in 1945 — 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. 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?
5. 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.
6. 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.
7. 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: 3.85% ✓
• Cap rate: 32.73%
• Cash-on-cash: 94.43%
• DSCR: 5.20
• GRM: 2.2

CMA / ARV

• ARV (on-the-fly): $267,000
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
405 S Colorado St	0.00mi	3/2.0	1,780 (0%)	2mo	$34,999	$20	98
119 Bush Dr	0.11mi	3/2.0	1,788 (+0%)	10mo	$339,000	$190	85
514 S Llano St	0.14mi	3/2.0	1,848 (+4%)	4mo	$219,000	$119	84
404 S San Marcos St	0.08mi	3/2.0	1,574 (-12%)	2mo	$269,000	$171	76
507 S Colorado St	0.11mi	3/1.0	1,554 (-13%)	2mo	$104,900	$68	68
305 N Neches St	0.70mi	4/2.0 (+1)	1,750 (-2%)	2mo	$180,000	$103	58
601 S Llano St	0.21mi	3/2.0	1,564 (-12%)	16mo	$234,900	$150	57
101 N San Antonio St	0.56mi	3/2.0	1,699 (-5%)	12mo	$339,000	$200	56
607 S Brazos St	0.27mi	4/2.0 (+1)	1,564 (-12%)	10mo	$220,000	$141	54
609 W Washington Ave	0.67mi	3/2.0	1,569 (-12%)	4mo	$295,000	$188	46

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: 95.3%
• Equity multiple: 5.44×
• Total profit: $48,466
• Equity at exit: $5,815

10-year hold

• IRR: 98.1%
• Equity multiple: 11.34×
• Total profit: $112,907
• Equity at exit: $3,372

Cash invested: $10,920 (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 76692

• Home prices YoY: -6.5%
• Active inventory: 638
• Price-to-rent: 2.2×

Monthly cashflow live

• Estimated rent: $1,500 medium
• Mortgage (P&I): −$205
• Tax from tax record: −$105 /mo · $1,259/yr
• Insurance: −$16
• HOA: −$0
• Vacancy / Maint / Mgmt: −$315
• Net cashflow: $859

Break-even live

Break-even rent $412

Max offer price $39,000

Occupancy floor 38%

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: $9,750
• Closing costs: $1,170
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
301 N Guadalupe St Whitney, TX	3.0	1.0	1409	$1,500	$1.06	13d	1	0.66mi

Listing history 2 events

1. 2026-06-17
   remarks 693-char remark
2. 2026-06-17
   listed $39,000 Active 1 DOM

ⓘ 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: $1,259 · $105/mo
• Projected year-2 tax: $1,259 · $105/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 7/10 Severe
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 24 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $18,000
• − Mortgage interest: −$2,185
• − Property taxes: −$1,259
• − Insurance: −$195
• − Repairs & maintenance: −$1,440
• − Management: −$1,440
• − Depreciation: −$1,135
• Taxable income: $10,347
• Est. tax owed @ 24.0%: −$2,483
• After-tax cash flow: $7,828/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: Whitney ISD
• NCES district ID: 4845720
• Math proficiency: 42% ▬ 0.00%
• Reading proficiency: 41% ▲ 3.00%
• Median HH income: $41,861
• Composite: 34.97/100
• National rank: #5060
• State rank: #378 of 826 in TX

Livability — Whitney

• Score: 71/100
• State rank: #282
• US rank: #6568

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Whitney, TX
• Population (ZIP): 9,662

Population outlook (Hill County) Hauer SSP2

• Today (2025): 34,013 people
• By 2030: 33,289 · -2.1%
• By 2040: 31,688 · -6.8%
• By 2050: 30,100 · -11.5%
• By 2075: 26,818 · -21.2%
• By 2100: 22,918 · -32.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Hispanic / Latino 12% Two or more races 4% Black 2%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Italian 3% Lithuanian 2% Romanian 2%
• Foreign-born: 4% · Canada, Vietnam
• Languages at home: 90% English-only · Spanish 9%

Political lean MEDSL · Hill

• 2024 margin: Solid R (+64.4) · D 17.5% · R 81.8%
• 2008→2024 swing: -23.0pp toward R · 2008: -41.4pp · 2024: -64.4pp
• All cycles: 2024: R+64.4 2020: R+60.7 2016: R+58.4 2012: R+53.0 2008: R+41.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -17.72%
• Current HPI: 252.9827
• 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

-44.3% since first listed

21 events — show timeline

• 2026-06-17 Listed $39,000 NTREIS
• 2026-04-22 Sold (Public Records) — Public Records
• 2026-04-22 Sold (MLS) — NTREIS
• 2026-04-14 Pending — NTREIS
• 2026-02-18 Price Changed $34,999 NTREIS
• 2026-01-05 Relisted — NTREIS
• 2025-11-21 Pending — NTREIS
• 2025-11-01 Price Changed $35,000 NTREIS
• 2025-10-22 Price Changed $41,500 NTREIS
• 2025-10-22 Relisted — NTREIS
• 2025-10-14 Listing Removed — NTREIS
• 2025-08-30 Price Changed $48,999 NTREIS
• 2025-08-15 Listed $49,999 NTREIS
• 2024-04-17 Listing Removed — NTREIS
• 2024-03-27 Listing Removed — HARMLS
• 2024-03-26 Sold (Public Records) — Public Records
• 2024-03-25 Listed $70,000 NTREIS
• 2024-03-22 Price Changed $70,000 HARMLS
• 2024-03-22 Listed $73,000 HARMLS
• 2024-02-29 Listed $70,000 NTREIS
• 2003-02-04 Sold (Public Records) — Public Records

Property tax history

+0.1%/yr

Latest (2025): $1,259 · -1.8% YoY. Source: county tax records.