504 Encinal St · Alice, TX 78332

$38,500

2 bd · 1.0 ba · 704 sqft · SingleFamily public records · 349 Days on market

Built 1900 6,250 sqft lot $55/sqft · 45% below area Est $70k · 45% under ↓ 36% 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investors Special! Don't miss this opportunity on a great potential and a nice sized lot. Here's your chance to own property in Alice, Tx. Bring your vision and an offer today! Call your favorite Realtor and make an appt to see this great piece of property.

Key facts

• 6,250 sq ft lot
• Built 1900
• Listed 349 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $38k.

Deal economics

• At list price, monthly cash flow is $489 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($980 rent vs $38k).
• Recommended offer: $34k (12.0% below list) — sets the bar for market timing.
• Cap rate 21.5% vs local median 4.1% in Alice — 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 (#558 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: employment D, schools D-, crime F.
• Alice ISD (town): math 12% / reading 23% proficiency, ranked #799 of 826 in TX (top 97%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 220 active listings in the ZIP; 6 units permitted in Jim Wells County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $266 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Jim Wells County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 349 days — a 12% lower offer ($34k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $22k (36%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $33,880 (12.0% below list)

Questions for the listing agent

1. It's been on market 349 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 1900 — 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 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?
6. Crime grade is F 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?
7. 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.
8. 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.
9. 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: 2.55% ✓
• Cap rate: 21.54%
• Cash-on-cash: 54.46%
• DSCR: 3.42
• GRM: 3.3

CMA / ARV

• ARV (median comp): $69,734
• List price: $38,500
• Delta: -44.79%
• Verdict: UNDERPRICED
• Comps: 12 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
406 W Farm St	0.38mi	2/1.0	720 (+2%)	23mo	$50,000	$69	60

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: 52.7%
• Equity multiple: 3.31×
• Total profit: $24,950
• Equity at exit: $5,740

10-year hold

• IRR: 57.9%
• Equity multiple: 6.75×
• Total profit: $61,960
• Equity at exit: $3,329

Cash invested: $10,780 (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 78332

• Active inventory: 220
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $980 medium
• Mortgage (P&I): −$202
• Tax from tax record: −$67 /mo · $804/yr
• Insurance: −$16
• HOA: −$0
• Vacancy / Maint / Mgmt: −$206
• Net cashflow: $489

Break-even live

Break-even rent $361

Max offer price $38,500

Occupancy floor 45%

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: $9,625
• Closing costs: $1,155
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $38,500 Active 349 DOM
2. 2026-06-17
   days on market $38,500 Active 348 DOM
3. 2026-06-16
   days on market $38,500 Active 347 DOM
4. 2026-06-15
   days on market $38,500 Active 346 DOM
5. 2026-06-13
   days on market $38,500 Active 344 DOM
6. 2026-06-12
   days on market $38,500 Active 343 DOM
7. 2026-06-09
   days on market $38,500 Active 340 DOM
8. 2026-06-08
   days on market $38,500 Active 339 DOM
9. 2026-06-08
   days on market $38,500 Active 338 DOM
10. 2026-06-07
    days on market $38,500 Active 337 DOM
11. 2026-06-03
    days on market $38,500 Active 334 DOM
12. 2026-06-02
    days on market $38,500 Active 333 DOM
13. 2026-06-01
    days on market $38,500 Active 332 DOM
14. 2026-05-31
    days on market $38,500 Active 331 DOM
15. 2025-12-01
    status Active 257-char remark

    Show marketing remark (257 chars)

    Investors Special! Don't miss this opportunity on a great potential and a nice sized lot. Here's your chance to own property in Alice, Tx. Bring your vision and an offer today! Call your favorite Realtor and make an appt to see this great piece of property.

16. 2025-11-08
    status Pending 257-char remark

    Show marketing remark (257 chars)

    Investors Special! Don't miss this opportunity on a great potential and a nice sized lot. Here's your chance to own property in Alice, Tx. Bring your vision and an offer today! Call your favorite Realtor and make an appt to see this great piece of property.

17. 2025-10-15
    price $38,500 257-char remark

    Show marketing remark (257 chars)

    Investors Special! Don't miss this opportunity on a great potential and a nice sized lot. Here's your chance to own property in Alice, Tx. Bring your vision and an offer today! Call your favorite Realtor and make an appt to see this great piece of property.

18. 2025-08-29
    price $40,000 257-char remark

    Show marketing remark (257 chars)

    Investors Special! Don't miss this opportunity on a great potential and a nice sized lot. Here's your chance to own property in Alice, Tx. Bring your vision and an offer today! Call your favorite Realtor and make an appt to see this great piece of property.

19. 2025-07-07
    price $50,000 257-char remark

    Show marketing remark (257 chars)

    Investors Special! Don't miss this opportunity on a great potential and a nice sized lot. Here's your chance to own property in Alice, Tx. Bring your vision and an offer today! Call your favorite Realtor and make an appt to see this great piece of property.

20. 2025-06-09
    listed $60,000 Active 257-char remark

    Show marketing remark (257 chars)

    Investors Special! Don't miss this opportunity on a great potential and a nice sized lot. Here's your chance to own property in Alice, Tx. Bring your vision and an offer today! Call your favorite Realtor and make an appt to see this great piece of property.

ⓘ 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: $804 · $67/mo
• Projected year-2 tax: $804 · $67/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 4/10 Moderate FEMA zone X · 22% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 9/10 Extreme 7 d/yr ≥113°F today · 21 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% 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: $11,761
• − Mortgage interest: −$2,157
• − Property taxes: −$804
• − Insurance: −$192
• − Repairs & maintenance: −$941
• − Management: −$941
• − Depreciation: −$1,120
• Taxable income: $5,606
• Est. tax owed @ 24.0%: −$1,345
• After-tax cash flow: $4,526/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: Alice ISD
• NCES district ID: 4807800
• Math proficiency: 12% ▼ -18.00%
• Reading proficiency: 23% ▼ -7.00%
• Median HH income: $37,747
• Composite: 14.63/100
• National rank: #9407
• State rank: #799 of 826 in TX

Livability — Alice

• Score: 67/100
• State rank: #558
• US rank: #10742

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Alice, TX
• Population (ZIP): 27,281

Population outlook (Jim Wells County) Hauer SSP2

• Today (2025): 43,325 people
• By 2030: 44,156 · +1.9%
• By 2040: 45,790 · +5.7%
• By 2050: 47,455 · +9.5%
• By 2075: 51,800 · +19.6%
• By 2100: 52,006 · +20.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (84%)
• Race & ethnicity: Hispanic / Latino 84% White 14% Two or more races 14%
• Hispanic origin (detail): Mexican 76%
• Foreign-born: 4% · Canada
• Languages at home: 50% English-only · Spanish 49%

Political lean MEDSL · Jim Wells

• 2024 margin: R (+15.5) · D 42.0% · R 57.5%
• 2008→2024 swing: -31.6pp toward R · 2008: 16.1pp · 2024: -15.5pp
• All cycles: 2024: R+15.5 2020: R+9.8 2016: D+10.3 2012: D+17.0 2008: D+16.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -123.86%
• Current HPI: 77.6253
• 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

-35.8% since first listed

6 events — show timeline

• 2025-12-01 Relisted — CBMLS
• 2025-11-08 Pending — CBMLS
• 2025-10-15 Price Changed $38,500 CBMLS
• 2025-08-29 Price Changed $40,000 CBMLS
• 2025-07-07 Price Changed $50,000 CBMLS
• 2025-06-09 Listed $60,000 CBMLS

Property tax history

+2.4%/yr

Latest (2025): $804 · +1.0% YoY. Source: county tax records.