1104 E Umlang St · Thorndale, TX 76577

$195,500

3 bd · 1.0 ba · 1,176 sqft · SingleFamily · 435 Days on market

Built 1952 Poor condition 0.84 ac lot $166/sqft · 11% above area Est $177k · 11% over ↓ 11% since listing

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Why this score? — see what drove the D+ 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 +21.1/30.0
• DSCR +6.7/10.0
• 1% rule +5.6/10.0
• Schools +3.7/10.0
• Livability +3.5/5.0
• ARV discount +2.7/15.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor Special in Thorndale – Nearly an Acre with Subdivision Potential! Welcome to 1104 E Umlang – a unique opportunity for investors, builders, or handymen looking to unlock serious potential. This property sits on a generous 0.83-acre lot, offering enough space to subdivide into multiple residential lots for new construction or development. The existing home, estimated to be from the 1940s or 1950s, will require a full renovation. Whether you’re interested in restoring its original character or tearing down and building new, this is a blank canvas waiting for your vision. Properties with this kind of land and flexibility don’t come around often in Thorndale. If you’ve been looking for a project with upside, this could be the one. Bring your creativity—and your tool belt—and make it your own!

Key facts

• Generous lot
• Blank canvas
• Full renovation

Tags

• GENEROUS LOT
• FULL RENOVATION
• BLANK CANVAS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $196k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $279 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $196k).
• Recommended offer: $172k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.0% vs local median 2.2% in Thorndale — 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 69/100 on livability (#424 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D+, amenities F, commute F.
• Thorndale ISD (rural): math 40% / reading 46% proficiency, ranked #297 of 826 in TX (top 36%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 58 active listings in the ZIP; 77 units permitted in Milam 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.
• Milam County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 435 days — a 12% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $24k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 6→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $172,040 (12.0% below list)

Questions for the listing agent

1. It's been on market 435 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 1.06% ✓
• Cap rate: 8.01%
• Cash-on-cash: 6.12%
• DSCR: 1.27
• GRM: 7.9

CMA / ARV

• ARV (median comp): $176,684
• List price: $195,500
• Delta: 10.65%
• Verdict: OVERPRICED
• Comps: 14 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
103 S Cornelius St	0.60mi	3/2.0	1,100 (-6%)	12mo	$225,000	$205	48

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: -6.8%
• Equity multiple: 0.75×
• Total profit: $-13,877
• Equity at exit: $29,150

10-year hold

• IRR: 2.8%
• Equity multiple: 1.20×
• Total profit: $10,925
• Equity at exit: $16,903

Cash invested: $54,740 (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 76577

• Home prices YoY: -14.9%
• Active inventory: 58
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $2,063 medium
• Mortgage (P&I): −$1,025
• Tax est. 1.5%: −$244 /mo · $2,932/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$433
• Net cashflow: $279

Break-even live

Break-even rent $1,710

Max offer price $195,500

Occupancy floor 81%

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: $48,875
• Closing costs: $5,865
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $195,500 Active 435 DOM
2. 2026-06-17
   days on market $195,500 Active 434 DOM
3. 2026-06-16
   days on market $195,500 Active 433 DOM
4. 2026-06-15
   days on market $195,500 Active 432 DOM
5. 2026-06-13
   days on market $195,500 Active 430 DOM
6. 2026-06-09
   days on market $195,500 Active 426 DOM
7. 2026-06-08
   days on market $195,500 Active 425 DOM
8. 2026-06-07
   days on market $195,500 Active 424 DOM
9. 2026-06-05
   days on market $195,500 Active 421 DOM
10. 2026-06-03
    days on market $195,500 Active 420 DOM
11. 2026-06-02
    days on market $195,500 Active 419 DOM
12. 2026-06-01
    days on market $195,500 Active 418 DOM
13. 2026-05-31
    days on market $195,500 Active 417 DOM
14. 2026-03-02
    price $195,500 852-char remark

    Show marketing remark (852 chars)

    Investor Special in Thorndale – Nearly an Acre with Subdivision Potential! Welcome to 1104 E Umlang – a unique opportunity for investors, builders, or handymen looking to unlock serious potential. This property sits on a generous 0.83-acre lot, offering enough space to subdivide into multiple residential lots for new construction or development. The existing home, estimated to be from the 1940s or 1950s, will require a full renovation. Whether you’re interested in restoring its original character or tearing down and building new, this is a blank canvas waiting for your vision. Properties with this kind of land and flexibility don’t come around often in Thorndale. If you’ve been looking for a project with upside, this could be the one. Bring your creativity—and your tool belt—and make it your own!

15. 2026-02-15
    price $195,500 850-char remark

    Show marketing remark (850 chars)

    Investor Special in Thorndale – Nearly an Acre with Subdivision Potential! Welcome to 1104 E Umlang – a unique opportunity for investors, builders, or handymen looking to unlock serious potential. This property sits on a generous 0.83-acre lot, offering enough space to subdivide into multiple residential lots for new construction or development. The existing home, estimated to be from the 1940s or 1950s, will require a full renovation. Whether you’re interested in restoring its original character or tearing down and building new, this is a blank canvas waiting for your vision. Properties with this kind of land and flexibility don’t come around often in Thorndale. If you’ve been looking for a project with upside, this could be the one. Bring your creativity—and your tool belt—and make it your own!

16. 2025-08-21
    price $210,000 852-char remark

    Show marketing remark (850 chars)

    Investor Special in Thorndale – Nearly an Acre with Subdivision Potential! Welcome to 1104 E Umlang – a unique opportunity for investors, builders, or handymen looking to unlock serious potential. This property sits on a generous 0.83-acre lot, offering enough space to subdivide into multiple residential lots for new construction or development. The existing home, estimated to be from the 1940s or 1950s, will require a full renovation. Whether you’re interested in restoring its original character or tearing down and building new, this is a blank canvas waiting for your vision. Properties with this kind of land and flexibility don’t come around often in Thorndale. If you’ve been looking for a project with upside, this could be the one. Bring your creativity—and your tool belt—and make it your own!

17. 2025-08-21
    price $210,000 850-char remark

    Show marketing remark (850 chars)

    Investor Special in Thorndale – Nearly an Acre with Subdivision Potential! Welcome to 1104 E Umlang – a unique opportunity for investors, builders, or handymen looking to unlock serious potential. This property sits on a generous 0.83-acre lot, offering enough space to subdivide into multiple residential lots for new construction or development. The existing home, estimated to be from the 1940s or 1950s, will require a full renovation. Whether you’re interested in restoring its original character or tearing down and building new, this is a blank canvas waiting for your vision. Properties with this kind of land and flexibility don’t come around often in Thorndale. If you’ve been looking for a project with upside, this could be the one. Bring your creativity—and your tool belt—and make it your own!

18. 2025-04-09
    listed $220,000 Active 852-char remark

    Show marketing remark (850 chars)

    Investor Special in Thorndale – Nearly an Acre with Subdivision Potential! Welcome to 1104 E Umlang – a unique opportunity for investors, builders, or handymen looking to unlock serious potential. This property sits on a generous 0.83-acre lot, offering enough space to subdivide into multiple residential lots for new construction or development. The existing home, estimated to be from the 1940s or 1950s, will require a full renovation. Whether you’re interested in restoring its original character or tearing down and building new, this is a blank canvas waiting for your vision. Properties with this kind of land and flexibility don’t come around often in Thorndale. If you’ve been looking for a project with upside, this could be the one. Bring your creativity—and your tool belt—and make it your own!

19. 2025-04-09
    listed $220,000 Active 850-char remark

    Show marketing remark (850 chars)

    Investor Special in Thorndale – Nearly an Acre with Subdivision Potential! Welcome to 1104 E Umlang – a unique opportunity for investors, builders, or handymen looking to unlock serious potential. This property sits on a generous 0.83-acre lot, offering enough space to subdivide into multiple residential lots for new construction or development. The existing home, estimated to be from the 1940s or 1950s, will require a full renovation. Whether you’re interested in restoring its original character or tearing down and building new, this is a blank canvas waiting for your vision. Properties with this kind of land and flexibility don’t come around often in Thorndale. If you’ve been looking for a project with upside, this could be the one. Bring your creativity—and your tool belt—and make it your own!

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 8/10 Severe 6 d/yr ≥108°F today · 21 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $24,761
• − Mortgage interest: −$10,951
• − Property taxes: −$2,932
• − Insurance: −$978
• − Repairs & maintenance: −$1,981
• − Management: −$1,981
• − Depreciation: −$5,687
• Taxable income: $251
• Est. tax owed @ 24.0%: −$60
• After-tax cash flow: $3,288/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.

Condition & rehab AI · 12 photos

Poor 20/100 Extensive rehab

This property requires extensive renovation, including kitchen and bathroom updates, exterior paint, and landscaping. It presents a blank canvas for investors looking to create a move-in-ready home.

Repairs flagged

• Major kitchen cabinets — severely worn and outdated
• Major bathroom fixtures — dated and worn
• Major exterior paint — peeling and overgrown vegetation
• Major interior walls — peeling paint

Value-add opportunities

• Both kitchen renovation — modernizing the kitchen would increase both resale and rental value
• Both bathroom renovation — modernizing the bathroom would increase both resale and rental value
• Both exterior paint and landscaping — improving the exterior would increase both resale and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · severely worn and outdated	Major	$15,000–50,000
bathroom fixtures · dated and worn	Major	$15,000–50,000
exterior paint · peeling and overgrown vegetation	Major	$15,000–50,000
interior walls · peeling paint	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Both kitchen renovation — modernizing the kitchen would increase both resale and rental value ↑
• Both bathroom renovation — modernizing the bathroom would increase both resale and rental value ↑
• Both exterior paint and landscaping — improving the exterior would increase both resale and rental value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Thorndale ISD
• NCES district ID: 4842630
• Math proficiency: 40% ▼ -3.00%
• Reading proficiency: 46% ▲ 4.00%
• Median HH income: $52,245
• Composite: 37.18/100
• National rank: #4477
• State rank: #297 of 826 in TX

Livability — Thorndale

• Score: 69/100
• State rank: #424
• US rank: #8691

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Thorndale, TX
• Population (ZIP): 3,297

Population outlook (Milam County) Hauer SSP2

• Today (2025): 24,051 people
• By 2030: 23,613 · -1.8%
• By 2040: 22,693 · -5.6%
• By 2050: 21,879 · -9.0%
• By 2075: 20,974 · -12.8%
• By 2100: 19,414 · -19.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Hispanic / Latino 15% Two or more races 9% Black 4%
• Hispanic origin (detail): Mexican 14%
• Common ancestry: Slovak 3% Italian 3% Lithuanian 2%
• Foreign-born: 1% · Canada
• Languages at home: 87% English-only · Spanish 11% Korean 1%

Political lean MEDSL · Milam

• 2024 margin: Solid R (+57.3) · D 21.0% · R 78.3%
• 2008→2024 swing: -31.3pp toward R · 2008: -26.0pp · 2024: -57.3pp
• All cycles: 2024: R+57.3 2020: R+51.9 2016: R+49.9 2012: R+34.6 2008: R+26.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -42.32%
• Current HPI: 241.8878
• 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

-11.1% since first listed

6 events — show timeline

• 2026-03-02 Price Changed $195,500 CTXMLS
• 2026-02-15 Price Changed $195,500 Unlock MLS
• 2025-08-21 Price Changed $210,000 CTXMLS
• 2025-08-21 Price Changed $210,000 Unlock MLS
• 2025-04-09 Listed $220,000 Unlock MLS
• 2025-04-09 Listed $220,000 CTXMLS