150 Merchant St · Abilene, TX 79603

$139,009

4 bd · 4.0 ba · 2,146 sqft · SingleFamily public records · 15 Days on market

Built 1905 0.32 ac lot Est $225k · 38% under

---

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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +5.0/5.0
• Livability +3.8/5.0
• Schools +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

THIS HOME HAS CHARACTER. .. 4 BED 2 BATH AND THEN A DOUBLE GARAGE AND A 31X25 SHOP WITH A HALF BATH IN IT. .. .LARGE CORNER LOT WITH FENCED BACKYARD

Key facts

• Multi-family zoning
• Additional zoned lot
• New windows

Tags

• DETACHED STEEL WORKSHOP
• MULTI-FAMILY ZONING
• TWO PLATTED CITY LOTS
• ADDITIONAL ZONED LOT
• NEW PEX PLUMBING SUPPLY
• NEW WINDOWS

Property features AI

Exterior

• Home design: House
• Construction: Built and listed in 2026
• Exterior features: Property sits on a 14,000 sq ft lot

Interior

• Interior features: Open floor plan indicated by 2,146 finished living area

What this means for you Summary

Snapshot

• This is a 4-bed/4.0-bath single-family listed at $139k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $139k).
• Recommended offer: $137k (1.5% below list) — sets the bar for market timing.
• Cap rate 18.1% vs local median 6.7% in Abilene — 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 75/100 on livability (#142 in TX, #4,037 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D+, crime D, commute F.
• Abilene ISD (urban): math 32% / reading 34% proficiency, ranked #575 of 826 in TX (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+40.2%/yr); 86 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 508 units permitted in Taylor County in 2024 (0 in 5+ unit buildings).
• At $2,999/mo this rent would consume 67% of the median local household income ($54k/yr) (locally 662% 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 $961 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Taylor County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $39k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($137k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 14y 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: built in 1905 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $136,923 (1.5% below list)

Questions for the listing agent

1. Built in 1905 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 2.16% ✓
• Cap rate: 18.05%
• Cash-on-cash: 42.00%
• DSCR: 2.87
• GRM: 3.9

CMA / ARV

• ARV (on-the-fly): $225,330
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
642 Victoria St	0.34mi	4/2.5	1,910 (-11%)	3mo	$199,900	$105	57
701 Sayles Blvd	0.63mi	4/3.0	2,254 (+5%)	2mo	$330,000	$146	56
2542 S 3rd St	0.62mi	4/3.0	2,076 (-3%)	8mo	$95,000	$46	55
901 Clinton St	0.60mi	4/3.5	2,256 (+5%)	7mo	$69,999	$31	55
517 Jeanette St	0.48mi	3/1.0 (-1)	2,116 (-1%)	4mo	$175,000	$83	55
772 Mulberry St	0.49mi	3/2.0 (-1)	2,250 (+5%)	2mo	$199,000	$88	54
533 Sayles Blvd	0.50mi	3/2.0 (-1)	2,063 (-4%)	4mo	$282,500	$137	54
501 Palm St	0.51mi	3/3.0 (-1)	2,258 (+5%)	6mo	$249,600	$111	54
734 Vine St	0.63mi	4/2.5	2,038 (-5%)	4mo	$150,000	$74	53
749 Poplar St	0.73mi	4/2.0	2,252 (+5%)	1mo	$90,000	$40	49
542 Mulberry St	0.33mi	3/2.0 (-1)	2,416 (+13%)	11mo	$300,000	$124	42
809 Sayles Blvd	0.74mi	3/2.0 (-1)	1,940 (-10%)	18mo	$349,900	$180	21

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 44.4%
• Equity multiple: 3.06×
• Total profit: $80,152
• Equity at exit: $20,727

10-year hold

• IRR: 52.6%
• Equity multiple: 7.52×
• Total profit: $253,942
• Equity at exit: $12,019

Cash invested: $38,923 (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 79603

• Home prices YoY: -32.5%
• Rents YoY: 40.2%
• Active inventory: 86
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $2,999 medium
• Mortgage (P&I): −$729
• Tax from tax record: −$220 /mo · $2,643/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$630
• Net cashflow: $1,362

Break-even live

Break-even rent $1,275

Max offer price $139,009

Occupancy floor 50%

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: $34,752
• Closing costs: $4,170
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
725 Peach St Abilene, TX	3.0	2.0	1618	$3,500	$2.16	21d	1	0.62mi
1209 Kirkwood St Abilene, TX	3.0	2.0	1674	$2,500	$1.49	21d	1	0.90mi
1349 Meander St Abilene, TX	3.0	1.0	1532	$3,800	$2.48	13d	1	1.25mi

Listing history 12 events

1. 2026-06-19
   days on market $139,009 Active 15 DOM
2. 2026-06-18
   days on market $139,009 Active 14 DOM
3. 2026-06-17
   days on market $139,009 Active 13 DOM
4. 2026-06-16
   days on market $139,009 Active 12 DOM
5. 2026-06-15
   days on market $139,009 Active 11 DOM
6. 2026-06-14
   days on market $139,009 Active 9 DOM
7. 2026-06-13
   days on market $139,009 Active 8 DOM
8. 2026-06-10
   days on market $139,009 Active 6 DOM
9. 2026-06-09
   days on market $139,009 Active 5 DOM
10. 2026-06-08
    days on market $139,009 Active 4 DOM
11. 2026-06-07
    remarks 699-char remark
12. 2026-06-07
    listed $139,009 Active 3 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: $2,643 · $220/mo
• Projected year-2 tax: $2,643 · $220/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 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥104°F today · 23 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 11% 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: $35,988
• − Mortgage interest: −$7,787
• − Property taxes: −$2,643
• − Insurance: −$695
• − Repairs & maintenance: −$2,879
• − Management: −$2,879
• − Depreciation: −$4,044
• Taxable income: $15,062
• Est. tax owed @ 24.0%: −$3,615
• After-tax cash flow: $12,731/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: Abilene ISD
• NCES district ID: 4807440
• Math proficiency: 32% ▼ -11.00%
• Reading proficiency: 34% ▼ -5.00%
• Median HH income: $39,782
• Composite: 27.71/100
• National rank: #6909
• State rank: #575 of 826 in TX

Livability — Abilene

• Score: 75/100
• State rank: #142
• US rank: #4037

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Abilene, TX
• County: Taylor County · 136,672 people
• City population: 136,672
• Metro: Abilene, TX
• Population (ZIP): 23,548
• Household income: $53,513
• Rent vs Own: 37.3% rent · 62.7% own
• Severe rent burden: 662.0

Population outlook (Taylor County) Hauer SSP2

• Today (2025): 145,270 people
• By 2030: 150,050 · +3.3%
• By 2040: 159,417 · +9.7%
• By 2050: 168,883 · +16.3%
• By 2075: 194,436 · +33.8%
• By 2100: 203,163 · +39.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: Hispanic / Latino 48% White 40% Two or more races 24% Black 8%
• Hispanic origin (detail): Mexican 44%
• Common ancestry: Italian 2% Slovak 2% Portuguese 1%
• Foreign-born: 9% · Canada
• Languages at home: 73% English-only · Spanish 25%

Political lean MEDSL · Taylor

• 2024 margin: Solid R (+49.8) · D 24.6% · R 74.4% · Other 1.0%
• 2008→2024 swing: -4.2pp toward R · 2008: -45.6pp · 2024: -49.8pp
• All cycles: 2024: R+49.8 2020: R+45.3 2016: R+51.1 2012: R+53.6 2008: R+45.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -88.84%
• Current HPI: 184.8875
• Rent YoY: ▲ 40.19%
• Metro: Abilene, 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

+110.9% since first listed

13 events — show timeline

• 2026-06-04 Listed $139,009 ForSaleByOwner.com
• 2024-04-30 Listing Removed — NTREIS
• 2023-12-07 Listed $125,000 NTREIS
• 2022-10-05 Sold (Public Records) — Public Records
• 2013-07-15 Sold (MLS) — NTREIS
• 2013-07-11 Listing Removed — NTREIS
• 2013-05-21 Listed $49,900 NTREIS
• 2013-04-30 Listing Removed — NTREIS
• 2013-04-01 Listed $57,500 NTREIS
• 2013-03-04 Listing Removed — NTREIS
• 2012-12-04 Listed $65,900 NTREIS
• 2005-05-11 Sold (Public Records) — Public Records
• 2001-09-24 Sold (Public Records) — Public Records

Property tax history

+6.9%/yr

Latest (2025): $2,643 · +10.9% YoY. Source: county tax records.