106 Benton St · Nocona, TX 76255

$101,000

2 bd · 1.0 ba · 820 sqft · SingleFamily public records · 295 Days on market

Built 1955 8,276 sqft lot $123/sqft · 14% below area Est $117k · 14% under

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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 +26.5/30.0
• ARV discount +13.6/15.0
• DSCR +9.0/10.0
• 1% rule +6.9/10.0
• Schools +3.4/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming 2-bedroom, 1-bath home located just one block from the hospital in the heart of Nocona, Texas. This property features original hardwood floors, an outdoor building with utilities, and a fantastic location close to everything in town. Whether you’re looking for a starter home, an investment property, or a place to downsize, this home has great potential. With a little TLC, it could truly shine. Enjoy small-town living with restaurants, shopping, schools, and healthcare all at your fingertips. Buyers and buyers agent responsible for accuracy.

Key facts

• 8,276 sq ft lot
• Parking
• Built 1955

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $101k.

Deal economics

• At list price, monthly cash flow is $266 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $101k).
• Recommended offer: $89k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.5% vs local median 3.9% in Nocona — 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 (#555 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D-, amenities F, commute F.
• Nocona ISD (town): math 44% / reading 37% proficiency, ranked #427 of 826 in TX (top 52%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 189 active listings in the ZIP; 23 units permitted in Montague County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $698 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Montague County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 295 days — a 12% lower offer ($89k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $88,880 (12.0% below list)

Questions for the listing agent

1. It's been on market 295 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 1955 — 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. 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: 1.19% ✓
• Cap rate: 9.45%
• Cash-on-cash: 11.29%
• DSCR: 1.50
• GRM: 7.0

CMA / ARV

• ARV (median comp): $116,959
• List price: $101,000
• Delta: -13.64%
• Verdict: UNDERPRICED
• Comps: 10 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
306 Henrietta St	0.75mi	2/1.0	840 (+2%)	24mo	$140,000	$167	41

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: 0.5%
• Equity multiple: 1.02×
• Total profit: $582
• Equity at exit: $15,059

10-year hold

• IRR: 10.2%
• Equity multiple: 1.79×
• Total profit: $22,355
• Equity at exit: $8,733

Cash invested: $28,280 (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 76255

• Home prices YoY: -12.5%
• Active inventory: 189
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,201 medium
• Mortgage (P&I): −$530
• Tax from tax record: −$111 /mo · $1,335/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$252
• Net cashflow: $266

Break-even live

Break-even rent $865

Max offer price $101,000

Occupancy floor 73%

Sensitivity live

Price	-10% $323	-5% $295	+0% $266	+5% $237	+10% $209
Rent	-10% $171	-5% $219	+0% $266	+5% $313	+10% $361
Rate	-1.0pp $317	-0.5pp $292	base $266	+0.5pp $240	+1.0pp $213

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: $25,250
• Closing costs: $3,030
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-08
   days on market $101,000 Active 295 DOM
2. 2026-06-08
   days on market $101,000 Active 294 DOM
3. 2026-06-05
   days on market $101,000 Active 292 DOM
4. 2026-06-03
   days on market $101,000 Active 290 DOM
5. 2026-06-02
   days on market $101,000 Active 289 DOM
6. 2026-06-01
   days on market $101,000 Active 288 DOM
7. 2026-05-31
   days on market $101,000 Active 287 DOM
8. 2025-08-18
   listed $101,000 Active 568-char remark

   Show marketing remark (568 chars)

   Charming 2-bedroom, 1-bath home located just one block from the hospital in the heart of Nocona, Texas. This property features original hardwood floors, an outdoor building with utilities, and a fantastic location close to everything in town. Whether you’re looking for a starter home, an investment property, or a place to downsize, this home has great potential. With a little TLC, it could truly shine. Enjoy small-town living with restaurants, shopping, schools, and healthcare all at your fingertips. Buyers and buyers agent responsible for accuracy.

9. 2008-10-30
   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: $1,335 · $111/mo
• Projected year-2 tax: $1,848 · $154/mo
• Expected delta: +$513/yr (+$43/mo · 38.5%)

ⓘ 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 8/10 Severe
• 🌡 Heat 6/10 Major 7 d/yr ≥109°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 13% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,414
• − Mortgage interest: −$5,658
• − Property taxes: −$1,335
• − Insurance: −$505
• − Repairs & maintenance: −$1,153
• − Management: −$1,153
• − Depreciation: −$2,938
• Taxable income: $1,672
• Est. tax owed @ 24.0%: −$401
• After-tax cash flow: $2,790/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: Nocona ISD
• NCES district ID: 4832790
• Math proficiency: 44% ▼ -1.00%
• Reading proficiency: 37% ▼ -7.00%
• Median HH income: $37,890
• Composite: 33.79/100
• National rank: #5364
• State rank: #427 of 826 in TX

Livability — Nocona

• Score: 67/100
• State rank: #555
• US rank: #10720

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Nocona, TX
• Population (ZIP): 5,725

Population outlook (Montague County) Hauer SSP2

• Today (2025): 18,216 people
• By 2030: 17,603 · -3.4%
• By 2040: 16,451 · -9.7%
• By 2050: 15,424 · -15.3%
• By 2075: 13,365 · -26.6%
• By 2100: 10,998 · -39.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Hispanic / Latino 15% Two or more races 4%
• Hispanic origin (detail): Mexican 14%
• Common ancestry: Lithuanian 2% Slovak 1% Iranian 1%
• Foreign-born: 4% · Canada
• Languages at home: 89% English-only · Spanish 10%

Political lean MEDSL · Montague

• 2024 margin: Solid R (+77.7) · D 10.9% · R 88.5%
• 2008→2024 swing: -19.2pp toward R · 2008: -58.5pp · 2024: -77.7pp
• All cycles: 2024: R+77.7 2020: R+76.6 2016: R+77.2 2012: R+70.1 2008: R+58.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -26.13%
• Current HPI: 183.6308
• 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

2 events — show timeline

• 2025-08-18 Listed $101,000 NTREIS
• 2008-10-30 Sold (Public Records) — Public Records

Property tax history

+3.7%/yr

Latest (2025): $1,335 · +0.1% YoY. Source: county tax records.