409 S 31st St · Corsicana, TX 75110

$160,000

3 bd · 1.0 ba · 1,743 sqft · SingleFamily public records · 90 Days on market

Built 1945 7,754 sqft lot $92/sqft · 24% below area Est $209k · 24% under

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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
• Livability +3.6/5.0
• Schools +3.2/10.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This charming 3-bedroom, 2-bath home in Corsicana offers 1,743 square feet of comfortable living space and is full of opportunity. Perfect as a starter home, it features a spacious layout with plenty of room to make it your own. The backyard boasts a generous grassy area with a few trees, providing a peaceful setting for outdoor enjoyment, gardening, or entertaining. With great bones and tons of potential, this home is ready for your personal touch to truly make it shine.

Key facts

• Generous grassy area
• Peaceful setting
• Spacious layout

Tags

• SPACIOUS LAYOUT
• GENEROUS GRASSY AREA
• PEACEFUL SETTING

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $209 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $150k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.9% vs local median 4.4% in Corsicana — 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 71/100 on livability (#283 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities D, schools F, crime F.
• Corsicana ISD (town): math 39% / reading 37% proficiency, ranked #471 of 826 in TX (top 57%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents soft (-1.5%/yr); 274 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 522 units permitted in Navarro County in 2024 (0 in 5+ unit buildings).
• This rent runs 34% of the median local income ($57k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Navarro County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 90 days — a 6% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 20y 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 1945 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 61% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $150,400 (6.0% below list)

Questions for the listing agent

1. It's been on market 90 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1945 — 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. 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: 1.02% ✓
• Cap rate: 7.86%
• Cash-on-cash: 5.60%
• DSCR: 1.25
• GRM: 8.2

CMA / ARV

• ARV (median comp): $209,230
• List price: $160,000
• Delta: -23.53%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2227 W Park Row Blvd	0.12mi	3/2.5	1,650 (-5%)	3mo	$250,000	$152	77
1511 W 13th Ave	0.50mi	3/2.0	1,742 (-0%)	5mo	$260,000	$149	68
1904 W 4th Ave	0.43mi	3/2.0	1,568 (-10%)	1mo	$275,000	$175	59
2401 W 4th Ave	0.38mi	3/1.5	1,544 (-11%)	15mo	$200,000	$130	48
1102 S 29th St	0.41mi	4/2.0 (+1)	1,519 (-13%)	11mo	$210,000	$138	41
3001 Hillsdale St	0.70mi	3/2.0	1,522 (-13%)	2mo	$230,000	$151	40
1408 W 13th Ave	0.55mi	4/2.0 (+1)	1,976 (+13%)	3mo	$260,000	$132	40
2212 W 1st Ave	0.62mi	3/2.0	1,550 (-11%)	12mo	$189,900	$123	39
301 N 37th St	0.55mi	4/2.0 (+1)	1,956 (+12%)	10mo	$235,500	$120	36
2420 Park Pl	0.73mi	3/2.0	1,978 (+14%)	7mo	$315,000	$159	34
1411 W 4th Ave	0.69mi	2/1.5 (-1)	1,491 (-14%)	8mo	$199,000	$133	30
2910 College Cir	0.65mi	2/2.0 (-1)	1,501 (-14%)	8mo	$209,000	$139	30

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -11.0%
• Equity multiple: 0.61×
• Total profit: $-17,400
• Equity at exit: $23,857

10-year hold

• IRR: -6.6%
• Equity multiple: 0.63×
• Total profit: $-16,485
• Equity at exit: $13,834

Cash invested: $44,800 (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 75110

• Rents YoY: -1.5%
• Active inventory: 274
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,634 high
• Mortgage (P&I): −$839
• Tax from tax record: −$176 /mo · $2,116/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$343
• Net cashflow: $209

Break-even live

Break-even rent $1,370

Max offer price $160,000

Occupancy floor 82%

Sensitivity live

Price	-10% $299	-5% $254	+0% $209	+5% $164	+10% $118
Rent	-10% $80	-5% $144	+0% $209	+5% $273	+10% $338
Rate	-1.0pp $289	-0.5pp $250	base $209	+0.5pp $167	+1.0pp $125

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
208 N 36th St Corsicana, TX	3.0	1.0	1200	$1,400	$1.17	45d	1	0.45mi
1509 W Collin St Corsicana, TX	3.0	2.0	1290	$1,850	$1.43	45d	1	0.47mi
2928 College Cir Corsicana, TX	3.0	2.0	1360	$1,650	$1.21	11d	1	0.59mi
544 N 37th St Corsicana, TX	3.0	1.0	1080	$1,590	$1.47	25d	1	0.78mi
1505 Woodlawn Ave Corsicana, TX	3.0	2.0	1220	$1,900	$1.56	45d	1	0.86mi
1306 Liveoak Ave Corsicana, TX	3.0	1.0	1080	$1,300	$1.20	6d	1	1.01mi

Listing history 36 events

1. 2026-06-21
   days on market $160,000 Active 90 DOM
2. 2026-06-19
   days on market $160,000 Active 88 DOM
3. 2026-06-18
   days on market $160,000 Active 87 DOM
4. 2026-06-17
   days on market $160,000 Active 86 DOM
5. 2026-06-16
   days on market $160,000 Active 85 DOM
6. 2026-06-15
   days on market $160,000 Active 84 DOM
7. 2026-06-14
   days on market $160,000 Active 82 DOM
8. 2026-06-12
   days on market $160,000 Active 81 DOM
9. 2026-06-09
   days on market $160,000 Active 78 DOM
10. 2026-06-08
    days on market $160,000 Active 77 DOM
11. 2026-06-07
    days on market $160,000 Active 76 DOM
12. 2026-06-02
    days on market $160,000 Active 71 DOM
13. 2026-06-01
    days on market $160,000 Active 70 DOM
14. 2026-05-31
    days on market $160,000 Active 69 DOM
15. 2026-05-30
    days on market $160,000 Active 68 DOM
16. 2026-05-19
    price $160,000 476-char remark

    Show marketing remark (476 chars)

    This charming 3-bedroom, 2-bath home in Corsicana offers 1,743 square feet of comfortable living space and is full of opportunity. Perfect as a starter home, it features a spacious layout with plenty of room to make it your own. The backyard boasts a generous grassy area with a few trees, providing a peaceful setting for outdoor enjoyment, gardening, or entertaining. With great bones and tons of potential, this home is ready for your personal touch to truly make it shine.

17. 2026-03-23
    listed $165,000 Active 476-char remark

    Show marketing remark (476 chars)

    This charming 3-bedroom, 2-bath home in Corsicana offers 1,743 square feet of comfortable living space and is full of opportunity. Perfect as a starter home, it features a spacious layout with plenty of room to make it your own. The backyard boasts a generous grassy area with a few trees, providing a peaceful setting for outdoor enjoyment, gardening, or entertaining. With great bones and tons of potential, this home is ready for your personal touch to truly make it shine.

18. 2022-04-19
    soldstatus
19. 2022-04-11
    status Pending 200-char remark

    Show marketing remark (200 chars)

    Looking for a home needing some TLC? This is it! It is a cozy 2bd 2bath home located is located to food, shopping, and entertainment. This home is ready for your finishing touches to make it your own.

20. 2022-04-11
    soldstatus Closed 200-char remark

    Show marketing remark (200 chars)

    Looking for a home needing some TLC? This is it! It is a cozy 2bd 2bath home located is located to food, shopping, and entertainment. This home is ready for your finishing touches to make it your own.

21. 2022-04-07
    status Active 200-char remark

    Show marketing remark (200 chars)

    Looking for a home needing some TLC? This is it! It is a cozy 2bd 2bath home located is located to food, shopping, and entertainment. This home is ready for your finishing touches to make it your own.

22. 2022-03-29
    status Pending 200-char remark

    Show marketing remark (200 chars)

    Looking for a home needing some TLC? This is it! It is a cozy 2bd 2bath home located is located to food, shopping, and entertainment. This home is ready for your finishing touches to make it your own.

23. 2022-03-11
    price $127,900 200-char remark

    Show marketing remark (200 chars)

    Looking for a home needing some TLC? This is it! It is a cozy 2bd 2bath home located is located to food, shopping, and entertainment. This home is ready for your finishing touches to make it your own.

24. 2022-02-25
    status Active 200-char remark

    Show marketing remark (200 chars)

    Looking for a home needing some TLC? This is it! It is a cozy 2bd 2bath home located is located to food, shopping, and entertainment. This home is ready for your finishing touches to make it your own.

25. 2022-02-23
    status Pending 200-char remark

    Show marketing remark (200 chars)

    Looking for a home needing some TLC? This is it! It is a cozy 2bd 2bath home located is located to food, shopping, and entertainment. This home is ready for your finishing touches to make it your own.

26. 2022-02-18
    listed $134,900 Active 200-char remark

    Show marketing remark (200 chars)

    Looking for a home needing some TLC? This is it! It is a cozy 2bd 2bath home located is located to food, shopping, and entertainment. This home is ready for your finishing touches to make it your own.

27. 2020-01-23
    soldstatus
28. 2012-03-30
    historical
29. 2012-03-14
    price $45,000
30. 2012-01-30
    listed $55,000 Active
31. 2006-09-14
    soldstatus
32. 2006-09-12
    soldstatus
33. 2006-08-14
    historical
34. 2006-07-24
    listed $59,900
35. 2001-04-20
    soldstatus
36. 1996-04-17
    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: $2,116 · $176/mo
• Projected year-2 tax: $2,928 · $244/mo
• Expected delta: +$812/yr (+$68/mo · 38.4%)

ⓘ 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 6/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 22 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 61% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,609
• − Mortgage interest: −$8,962
• − Property taxes: −$2,116
• − Insurance: −$800
• − Repairs & maintenance: −$1,569
• − Management: −$1,569
• − Depreciation: −$4,655
• Taxable loss: −$61
• Est. tax savings @ 24.0%: +$15
• After-tax cash flow: $2,522/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: Corsicana ISD
• NCES district ID: 4815330
• Math proficiency: 39% ▼ -9.00%
• Reading proficiency: 37% ▬ 0.00%
• Median HH income: $39,948
• Composite: 31.89/100
• National rank: #5862
• State rank: #471 of 826 in TX

Livability — Corsicana

• Score: 71/100
• State rank: #283
• US rank: #6570

Category grades

Amenities D 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: Corsicana, TX
• County: Navarro County · 31,552 people
• City population: 31,552
• Metro: Corsicana, TX
• Population (ZIP): 31,552
• Household income: $57,370
• Rent vs Own: 39.1% rent · 60.9% own
• Severe rent burden: 663.0

Population outlook (Navarro County) Hauer SSP2

• Today (2025): 48,397 people
• By 2030: 48,096 · -0.6%
• By 2040: 47,394 · -2.1%
• By 2050: 46,541 · -3.8%
• By 2075: 44,940 · -7.1%
• By 2100: 42,288 · -12.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: White 41% Hispanic / Latino 37% Two or more races 16% Black 13% Pacific Islander 2% Asian 1%
• Hispanic origin (detail): Mexican 34%
• Common ancestry: Lithuanian 2% Slovak 1% Romanian 1%
• Foreign-born: 17% · Canada
• Languages at home: 68% English-only · Spanish 29% Other Asian/Pacific 2%

Political lean MEDSL · Navarro

• 2024 margin: Solid R (+51.8) · D 23.7% · R 75.6%
• 2008→2024 swing: -18.7pp toward R · 2008: -33.1pp · 2024: -51.8pp
• All cycles: 2024: R+51.8 2020: R+45.5 2016: R+48.8 2012: R+42.4 2008: R+33.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -248.01%
• Current HPI: 224.5566
• Rent YoY: ▼ -1.47%
• Metro: Corsicana, 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

+167.1% since first listed

21 events — show timeline

• 2026-05-19 Price Changed $160,000 NTREIS
• 2026-03-23 Listed $165,000 NTREIS
• 2022-04-19 Sold (Public Records) — Public Records
• 2022-04-11 Pending — NTREIS
• 2022-04-11 Sold (MLS) — NTREIS
• 2022-04-07 Relisted — NTREIS
• 2022-03-29 Pending — NTREIS
• 2022-03-11 Price Changed $127,900 NTREIS
• 2022-02-25 Relisted — NTREIS
• 2022-02-23 Pending — NTREIS
• 2022-02-18 Listed $134,900 NTREIS
• 2020-01-23 Sold (Public Records) — Public Records
• 2012-03-30 Listing Removed — NTREIS
• 2012-03-14 Price Changed $45,000 NTREIS
• 2012-01-30 Listed $55,000 NTREIS
• 2006-09-14 Sold (Public Records) — Public Records
• 2006-09-12 Sold (MLS) — NTREIS
• 2006-08-14 Listing Removed — NTREIS
• 2006-07-24 Listed $59,900 NTREIS
• 2001-04-20 Sold (Public Records) — Public Records
• 1996-04-17 Sold (Public Records) — Public Records

Property tax history

+3.9%/yr

Latest (2025): $2,116 · -2.1% YoY. Source: county tax records.