817 S Elm St · Mart, TX 76664

$25,000

2 bd · 1.0 ba · 956 sqft · SingleFamily public records · 223 Days on market

Built 1930 7,492 sqft lot $26/sqft · 71% below area ↓ 17% 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 +3.4/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +1.7/10.0

Listing remarks MLS

Tear down house on flat, level lot. House almost certainly cannot be saved.

Key facts

• 7,492 sq ft lot
• Built 1930
• Listed 223 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $25k.

Deal economics

• At list price, monthly cash flow is $576 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($948 rent vs $25k).
• Recommended offer: $22k (12.0% below list) — sets the bar for market timing.
• Cap rate 33.9% vs local median 4.8% in Mart — 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 67/100 on livability (#586 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: schools F, amenities F, commute F.
• Mart ISD (rural): math 32% / reading 32% proficiency, ranked #589 of 826 in TX (top 71%) — 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: 60 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 1,014 units permitted in McLennan County in 2024 (200 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $173 of loan paydown is wiped out by about $750 of value loss. Plan a longer hold.
• McLennan County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $7k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 223 days — a 12% lower offer ($22k) is reasonable based on typical stale-listing flexibility.
• 2 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: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 78% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $22,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 223 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — 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 F-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. 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.
7. 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.
8. 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: 3.79% ✓
• Cap rate: 33.95%
• Cash-on-cash: 98.76%
• DSCR: 5.39
• GRM: 2.2

CMA / ARV

• ARV (median comp): $86,765
• List price: $25,000
• Delta: -71.19%
• Verdict: UNDERPRICED
• Comps: 17 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
610 S Falls St	0.28mi	2/1.0	960 (+0%)	3mo	$17,900	$19	84
119 S Falls St	0.64mi	3/2.0 (+1)	1,008 (+5%)	4mo	$239,000	$237	49

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: 99.8%
• Equity multiple: 5.67×
• Total profit: $32,655
• Equity at exit: $3,728

10-year hold

• IRR: —
• Equity multiple: 11.82×
• Total profit: $75,740
• Equity at exit: $2,162

Cash invested: $7,000 (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 76664

• Home prices YoY: -3.2%
• Active inventory: 60
• Price-to-rent: 2.2×

Monthly cashflow live

• Estimated rent: $948 medium
• Mortgage (P&I): −$131
• Tax est. 1.5%: −$31 /mo · $375/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$199
• Net cashflow: $576

Break-even live

Break-even rent $219

Max offer price $25,000

Occupancy floor 34%

Sensitivity live

Price	-10% $593	-5% $585	+0% $576	+5% $567	+10% $559
Rent	-10% $501	-5% $539	+0% $576	+5% $614	+10% $651
Rate	-1.0pp $589	-0.5pp $582	base $576	+0.5pp $570	+1.0pp $563

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: $6,250
• Closing costs: $750
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
602 E Navarro St Mart, TX	2.0	1.0	726	$595	$0.82	14d	1	0.67mi
318 N Waco St Mart, TX	3.0	2.0	1075	$1,395	$1.30	14d	1	0.99mi
208 N Lumpkin St Mart, TX	2.0	1.0	988	$950	$0.96	14d	1	1.03mi

Listing history 21 events

1. 2026-06-18
   days on market $25,000 Active 223 DOM
2. 2026-06-17
   days on market $25,000 Active 222 DOM
3. 2026-06-16
   days on market $25,000 Active 221 DOM
4. 2026-06-15
   days on market $25,000 Active 220 DOM
5. 2026-06-14
   days on market $25,000 Active 218 DOM
6. 2026-06-13
   days on market $25,000 Active 217 DOM
7. 2026-06-10
   days on market $25,000 Active 215 DOM
8. 2026-06-09
   days on market $25,000 Active 214 DOM
9. 2026-06-08
   days on market $25,000 Active 213 DOM
10. 2026-06-07
    days on market $25,000 Active 212 DOM
11. 2026-06-05
    days on market $25,000 Active 209 DOM
12. 2026-06-03
    days on market $25,000 Active 208 DOM
13. 2026-06-02
    days on market $25,000 Active 207 DOM
14. 2026-06-01
    days on market $25,000 Active 206 DOM
15. 2026-05-31
    days on market $25,000 Active 205 DOM
16. 2026-05-30
    days on market $25,000 Active 204 DOM
17. 2025-10-20
    listed $25,000 Active 75-char remark

    Show marketing remark (75 chars)

    Tear down house on flat, level lot. House almost certainly cannot be saved.

18. 2025-06-06
    historical
19. 2024-12-06
    listed $30,000 Active
20. 2024-07-08
    soldstatus
21. 2000-08-11
    soldstatus

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥108°F today · 24 d/yr by 30 yrs out
• 💨 Wind 7/10 Severe 78% 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: $11,375
• − Mortgage interest: −$1,400
• − Property taxes: −$375
• − Insurance: −$125
• − Repairs & maintenance: −$910
• − Management: −$910
• − Depreciation: −$727
• Taxable income: $6,927
• Est. tax owed @ 24.0%: −$1,663
• After-tax cash flow: $5,251/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: Mart ISD
• NCES district ID: 4829190
• Math proficiency: 32% ▼ -2.00%
• Reading proficiency: 32% ▲ 2.00%
• Median HH income: $38,915
• Composite: 26.81/100
• National rank: #7116
• State rank: #589 of 826 in TX

Livability — Mart

• Score: 67/100
• State rank: #586
• US rank: #11177

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 3,425

Population outlook (McLennan County) Hauer SSP2

• Today (2025): 264,191 people
• By 2030: 273,578 · +3.6%
• By 2040: 291,506 · +10.3%
• By 2050: 308,044 · +16.6%
• By 2075: 349,648 · +32.3%
• By 2100: 364,779 · +38.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 61% Black 20% Two or more races 11% Hispanic / Latino 11%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Serbian 2% Romanian 2% Lithuanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 92% English-only · Spanish 8%

Political lean MEDSL · McLennan

• 2024 margin: Solid R (+30.9) · D 34.0% · R 64.9% · Other 1.0%
• 2008→2024 swing: -7.0pp toward R · 2008: -23.9pp · 2024: -30.9pp
• All cycles: 2024: R+30.9 2020: R+23.4 2016: R+27.1 2012: R+29.8 2008: R+23.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -6.56%
• Current HPI: 200.9535
• 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

-16.7% since first listed

5 events — show timeline

• 2025-10-20 Listed $25,000 NTREIS
• 2025-06-06 Listing Removed — NTREIS
• 2024-12-06 Listed $30,000 NTREIS
• 2024-07-08 Sold (Public Records) — Public Records
• 2000-08-11 Sold (Public Records) — Public Records

Property tax history

+12.9%/yr

Latest (2025): $1,871 · +74.8% YoY. Source: county tax records.