302 S Clark St · Rockwall, TX 75087

$215,000

3 bd · 2.0 ba · 1,080 sqft · SingleFamily public records · 185 Days on market

Built 1980 9,453 sqft lot $199/sqft · 25% below area Est $287k · 25% under ↓ 14% 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 +20.4/30.0
• ARV discount +15.0/15.0
• DSCR +6.5/10.0
• 1% rule +5.2/10.0
• Schools +5.0/10.0
• Livability +3.9/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nestled in the heart of downtown Rockwall, this charming 3-bedroom, 2-bathroom home offers an incredible opportunity in one of the city's most desirable and walkable locations. Close to local dining, shops, and community events, the property combines everyday convenience with small-town character. Whether you’re looking to personalize, renovate, or invest, this property provides a solid foundation in a highly sought-after area. Home is being sold as-is, presenting a rare chance to bring your vision to life in a prime Rockwall setting.

Key facts

• Walkable locations
• Downtown rockwall
• Solid foundation

Tags

• DOWNTOWN ROCKWALL
• WALKABLE LOCATIONS
• LOCAL DINING
• COMMUNITY EVENTS
• SOLID FOUNDATION
• PRIME ROCKWALL SETTING

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $215k.

Deal economics

• At list price, monthly cash flow is $278 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $215k).
• Recommended offer: $189k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.8% vs local median 2.9% in Rockwall — 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 77/100 on livability (#86 in TX, #3,043 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A-; Watch: amenities F, commute F.
• Rockwall ISD (suburban): math 54% / reading 54% proficiency, ranked #83 of 826 in TX (top 10%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+3.2%/yr); 1008 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 1,810 units permitted in Rockwall County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Rockwall County population projected at +56% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 185 days — a 12% lower offer ($189k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; moderate 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 $189,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 185 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.02% ✓
• Cap rate: 7.85%
• Cash-on-cash: 5.55%
• DSCR: 1.25
• GRM: 8.2

CMA / ARV

• ARV (median comp): $287,269
• List price: $215,000
• Delta: -25.16%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
501 Storrs St	0.18mi	2/1.0 (-1)	1,108 (+3%)	5mo	$250,000	$226	75
505 Parks Ave	0.36mi	3/2.0	1,104 (+2%)	21mo	$320,000	$290	62
702 Kernodle St	0.44mi	2/1.0 (-1)	1,004 (-7%)	1mo	$285,000	$284	58
812 Peters Colony	0.49mi	3/2.0	1,016 (-6%)	16mo	$225,000	$221	54
708 N Alamo Rd	0.56mi	3/1.0	960 (-11%)	2mo	$230,000	$240	50
812 E Heath St	0.53mi	3/2.0	1,207 (+12%)	12mo	$282,500	$234	45
822 Nash St	0.67mi	3/2.0	1,128 (+4%)	21mo	$315,000	$279	43
702 Nash St	0.47mi	2/1.5 (-1)	920 (-15%)	4mo	$292,500	$318	43
805 Jackson St	0.67mi	3/2.0	1,200 (+11%)	9mo	$345,000	$288	43
504 N Alamo Rd	0.50mi	2/1.5 (-1)	1,214 (+12%)	23mo	$364,000	$300	30
831 Nash St	0.74mi	3/1.5	1,200 (+11%)	22mo	$264,000	$220	27

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 · 3.23% rent growth · sell at horizon

5-year hold

• IRR: -7.5%
• Equity multiple: 0.72×
• Total profit: $-16,596
• Equity at exit: $32,057

10-year hold

• IRR: 2.4%
• Equity multiple: 1.17×
• Total profit: $10,528
• Equity at exit: $18,589

Cash invested: $60,200 (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 75087

• Rents YoY: 3.2%
• Active inventory: 1008
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $2,197 high
• Mortgage (P&I): −$1,127
• Tax from tax record: −$241 /mo · $2,889/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$461
• Net cashflow: $278

Break-even live

Break-even rent $1,845

Max offer price $215,000

Occupancy floor 82%

Sensitivity live

Price	-10% $400	-5% $339	+0% $278	+5% $217	+10% $156
Rent	-10% $105	-5% $191	+0% $278	+5% $365	+10% $452
Rate	-1.0pp $386	-0.5pp $333	base $278	+0.5pp $222	+1.0pp $166

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
106 S Clark St Rockwall, TX	3.0	1.0	1144	$2,499	$2.18	25d	1	0.10mi
505 Storrs St Rockwall, TX	3.0	2.0	1097	$1,900	$1.73	44d	1	0.16mi
404 Renfro St Rockwall, TX	3.0	2.0	1156	$1,800	$1.56	5d	1	0.21mi
509 S Fannin St Unit B Rockwall, TX	2.0	1.0	995	$1,395	$1.40	25d	1	0.25mi
550 Williams St Rockwall, TX	1.0–3.0	1.0–2.0	1057	$2,715	$2.57	13d	15	0.29mi
214 Saint Marys Pl Rockwall, TX	3.0	2.0	1141	$2,200	$1.93	25d	1	0.35mi
502 Rogers Way Rockwall, TX	4.0	2.0	1367	$2,350	$1.72	44d	1	0.45mi
812 Nash St Rockwall, TX	2.0	1.0	900	$1,900	$2.11	19d	1	0.61mi
404 Valley Dr Rockwall, TX	3.0	2.0	1217	$2,100	$1.73	13d	1	0.68mi
212 Darrin Dr Rockwall, TX	3.0	2.0	1366	$2,095	$1.53	17d	1	0.75mi
212 Darrin Dr Rockwall, TX	3.0	2.0	1366	$2,095	$1.53	7d	1	0.75mi
1196 T L Townsend Dr Rockwall, TX	1.0–2.0	1.0–2.0	875	$2,772	$3.17	1d	16	0.86mi
1410 S Goliad St Rockwall, TX	1.0–2.0	1.0–2.0	856	$1,860	$2.17	0d	22	1.07mi
1000 W Yellow Jacket Ln Rockwall, TX	1.0–3.0	1.0–2.0	744	$1,790	$2.40	3d	18	1.18mi
923 W Yellowjacket Ln Rockwall, TX	1.0–3.0	1.0–2.0	970	$2,137	$2.20	2d	20	1.47mi

Listing history 17 events

1. 2026-06-18
   days on market $215,000 Active 185 DOM
2. 2026-06-17
   days on market $215,000 Active 184 DOM
3. 2026-06-16
   days on market $215,000 Active 183 DOM
4. 2026-06-15
   days on market $215,000 Active 182 DOM
5. 2026-06-13
   days on market $215,000 Active 180 DOM
6. 2026-06-13
   days on market $215,000 Active 179 DOM
7. 2026-06-09
   days on market $215,000 Active 176 DOM
8. 2026-06-08
   days on market $215,000 Active 175 DOM
9. 2026-06-07
   days on market $215,000 Active 174 DOM
10. 2026-06-04
    days on market $215,000 Active 171 DOM
11. 2026-06-03
    days on market $215,000 Active 170 DOM
12. 2026-06-02
    days on market $215,000 Active 169 DOM
13. 2026-06-01
    days on market $215,000 Active 168 DOM
14. 2026-05-31
    days on market $215,000 Active 167 DOM
15. 2026-03-03
    price $215,000 546-char remark

    Show marketing remark (546 chars)

    Nestled in the heart of downtown Rockwall, this charming 3-bedroom, 2-bathroom home offers an incredible opportunity in one of the city's most desirable and walkable locations. Close to local dining, shops, and community events, the property combines everyday convenience with small-town character. Whether you’re looking to personalize, renovate, or invest, this property provides a solid foundation in a highly sought-after area. Home is being sold as-is, presenting a rare chance to bring your vision to life in a prime Rockwall setting.

16. 2025-12-15
    listed $250,000 Active 546-char remark

    Show marketing remark (546 chars)

    Nestled in the heart of downtown Rockwall, this charming 3-bedroom, 2-bathroom home offers an incredible opportunity in one of the city's most desirable and walkable locations. Close to local dining, shops, and community events, the property combines everyday convenience with small-town character. Whether you’re looking to personalize, renovate, or invest, this property provides a solid foundation in a highly sought-after area. Home is being sold as-is, presenting a rare chance to bring your vision to life in a prime Rockwall setting.

17. 1978-05-17
    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: $2,889 · $241/mo
• Projected year-2 tax: $3,934 · $328/mo
• Expected delta: +$1,046/yr (+$87/mo · 36.2%)

ⓘ 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 5/10 Major
• 🌡 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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,369
• − Mortgage interest: −$12,043
• − Property taxes: −$2,889
• − Insurance: −$1,075
• − Repairs & maintenance: −$2,110
• − Management: −$2,110
• − Depreciation: −$6,255
• Taxable loss: −$112
• Est. tax savings @ 24.0%: +$27
• After-tax cash flow: $3,365/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: Rockwall ISD
• NCES district ID: 4837650
• Math proficiency: 54% ▼ -13.00%
• Reading proficiency: 54% ▼ -8.00%
• Median HH income: $88,800
• Composite: 49.82/100
• National rank: #1952
• State rank: #83 of 826 in TX

Livability — Rockwall

• Score: 77/100
• State rank: #86
• US rank: #3043

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rockwall, TX
• County: Rockwall County · 132,930 people
• City population: 84,191
• Metro: Dallas-Fort Worth-Arlington, TX
• Population (ZIP): 44,326
• Household income: $129,484
• Rent vs Own: 18.8% rent · 81.2% own
• Severe rent burden: 646.0

Population outlook (Rockwall County) Hauer SSP2

• Today (2025): 118,396 people
• By 2030: 132,209 · +11.7%
• By 2040: 159,538 · +34.7%
• By 2050: 185,299 · +56.5%
• By 2075: 243,489 · +105.7%
• By 2100: 277,814 · +134.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (69%)
• Race & ethnicity: White 69% Hispanic / Latino 17% Two or more races 12% Black 7% Asian 4%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Slovak 2% Italian 2% Iranian 2%
• Foreign-born: 8% · Canada, Vietnam, South Korea
• Languages at home: 88% English-only · Spanish 8% Other Indo-European 1% Vietnamese 1%

Political lean MEDSL · Rockwall

• 2024 margin: Solid R (+40.9) · D 29.1% · R 70.0%
• 2008→2024 swing: +5.3pp toward D · 2008: -46.2pp · 2024: -40.9pp
• All cycles: 2024: R+40.9 2020: R+37.7 2016: R+47.5 2012: R+53.3 2008: R+46.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -188.34%
• Current HPI: 208.2221
• Rent YoY: ▲ 3.23%
• 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

-14.0% since first listed

3 events — show timeline

• 2026-03-03 Price Changed $215,000 NTREIS
• 2025-12-15 Listed $250,000 NTREIS
• 1978-05-17 Sold (Public Records) — Public Records

Property tax history

+3.4%/yr

Latest (2025): $2,889 · +5.1% YoY. Source: county tax records.