908 S Rice St · Hamilton, TX 76531

$120,000

3 bd · 1.0 ba · 1,032 sqft · SingleFamily public records · 54 Days on market

Built 1945 0.26 ac lot $116/sqft · 10% above area Est $109k · 10% over ↓ 40% since listing

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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 +24.1/30.0
• Appreciation +10.0/10.0
• DSCR +7.8/10.0
• 1% rule +6.6/10.0
• Schools +4.2/10.0
• Livability +3.7/5.0
• ARV discount +2.9/15.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

COMMERCIAL POTENTIAL WITH HIGHWAY 281 FRONTAGE! Situated on a high-visibility corner lot at 908 S Rice St, this property offers approximately 125 feet of frontage on State Hwy 281. Currently a 1,032 sq. ft. 3 bedroom, 1-bath frame home, the property is being sold as is and is a prime candidate for a full remodel or a commercial conversion. Built in 1945 the home features a durable metal roof, hardwood floors un exiting flooring and a pier-and-beam foundation. The oversized corner lot provides ample space for parking or expansion. Whether you’re looking for a residential fixer-upper with a massive yard or a strategic business location in the heart of Hamilton, this property offers endl

Key facts

• 0.26 acre lot
• Parking
• Built 1945

Property features AI

Finance

• Other: Possession at closing/funding; For sale (active)
• Financial info: Listing terms: Cash or Conventional; Treat as clear loan type; No second mortgage
• HOA & community: No association

Exterior

• Parking: Covered parking (1 space); Carport (1 space); Additional parking available
• Utilities: City water; City sewer; Not in a municipal utility district
• Home design: Single family residence; Residential property; One story; Attached property
• Construction: Metal roof; Pillar/post/pier foundation; Built in 1945
• Exterior features: Accessible approach with ramp; Lot less than 0.5 acre; Subdivision: Hamilton

Interior

• Kitchen: Built-in cabinets
• Bedrooms: 3 bedrooms (all on main level); Primary bedroom approximately 12 x 13 (main level); Second bedroom approximately 12 x 12 (main level); Third bedroom approximately 10 x 15 with walk-in closet (main level)
• Flooring: Linoleum; Wood under carpet
• Bathrooms: 1 full bathroom (main level) with medicine cabinet
• Interior features: Walk-in closet(s); One living area; One dining area; 7 total rooms; One-level home
• Laundry & utility: No appliances included

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $238 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $116k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.7% vs local median 2.7% in Hamilton — 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 73/100 on livability (#210 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D, amenities F, commute F.
• Hamilton ISD (town): math 50% / reading 50% proficiency, ranked #192 of 826 in TX (top 23%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Ann Whitney El (math 42% / reading 42%, grade F, #1,335 of 4,322 statewide, top 33%, 397 students, 60% FRL).
• Market conditions: 117 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 24 units permitted in Hamilton County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $13k of equity ($830 loan paydown + $12k appreciation (10.0% local appreciation)).
• Hamilton County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 54 days — a 3% lower offer ($116k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y 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, 27% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 6→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $116,400 (3.0% below list)

Questions for the listing agent

1. It's been on market 54 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.16% ✓
• Cap rate: 8.67%
• Cash-on-cash: 8.49%
• DSCR: 1.38
• GRM: 7.2

CMA / ARV

• ARV (median comp): $108,780
• List price: $120,000
• Delta: 10.31%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
415 W Grogan St	0.27mi	3/2.0	1,014 (-2%)	6mo	$179,000	$177	76
1206 S Dempster St	0.31mi	2/1.0 (-1)	964 (-7%)	20mo	$107,000	$111	53
316 S Price	0.51mi	3/2.0	1,177 (+14%)	21mo	$135,000	$115	31

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 30.5%
• Equity multiple: 3.40×
• Total profit: $80,532
• Equity at exit: $108,106

10-year hold

• IRR: 26.4%
• Equity multiple: 7.71×
• Total profit: $225,336
• Equity at exit: $233,134

Cash invested: $33,600 (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 76531

• Home prices YoY: 17.5%
• Active inventory: 117
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,395 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$185 /mo · $2,222/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$293
• Net cashflow: $238

Break-even live

Break-even rent $1,094

Max offer price $120,000

Occupancy floor 78%

Sensitivity live

Price	-10% $306	-5% $272	+0% $238	+5% $204	+10% $170
Rent	-10% $127	-5% $183	+0% $238	+5% $293	+10% $348
Rate	-1.0pp $298	-0.5pp $268	base $238	+0.5pp $207	+1.0pp $175

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1115 E Ross St Hamilton, TX	3.0	2.0	1341	$1,395	$1.04	14d	1	1.13mi

Listing history 21 events

1. 2026-06-21
   days on market $120,000 Active 54 DOM
2. 2026-06-18
   days on market $120,000 Active 52 DOM
3. 2026-06-17
   days on market $120,000 Active 51 DOM
4. 2026-06-16
   days on market $120,000 Active 50 DOM
5. 2026-06-15
   days on market $120,000 Active 49 DOM
6. 2026-06-13
   days on market $120,000 Active 47 DOM
7. 2026-06-12
   days on market $120,000 Active 46 DOM
8. 2026-06-09
   days on market $120,000 Active 43 DOM
9. 2026-06-08
   days on market $120,000 Active 42 DOM
10. 2026-06-08
    days on market $120,000 Active 41 DOM
11. 2026-06-05
    days on market $120,000 Active 39 DOM
12. 2026-06-03
    days on market $120,000 Active 37 DOM
13. 2026-06-02
    days on market $120,000 Active 36 DOM
14. 2026-06-01
    days on market $120,000 Active 35 DOM
15. 2026-05-31
    days on market $120,000 Active 34 DOM
16. 2026-04-27
    listed $120,000 Active 792-char remark
17. 2023-05-31
    historical
18. 2022-12-01
    status Active
19. 2022-11-02
    historical
20. 2022-05-03
    listed $199,000 Active
21. 2013-10-07
    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: $2,222 · $185/mo
• Projected year-2 tax: $2,222 · $185/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 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 6/10 Major 6 d/yr ≥105°F today · 20 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $16,740
• − Mortgage interest: −$6,722
• − Property taxes: −$2,222
• − Insurance: −$600
• − Repairs & maintenance: −$1,339
• − Management: −$1,339
• − Depreciation: −$3,491
• Taxable income: $1,027
• Est. tax owed @ 24.0%: −$247
• After-tax cash flow: $2,605/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: Hamilton ISD
• NCES district ID: 4822230
• Math proficiency: 50% ▲ 1.00%
• Reading proficiency: 50% ▼ -1.00%
• Median HH income: $43,597
• Composite: 42.18/100
• National rank: #3293
• State rank: #192 of 826 in TX

Livability — Hamilton

• Score: 73/100
• State rank: #210
• US rank: #5259

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hamilton, TX
• Population (ZIP): 4,673

Population outlook (Hamilton County) Hauer SSP2

• Today (2025): 7,553 people
• By 2030: 7,212 · -4.5%
• By 2040: 6,566 · -13.1%
• By 2050: 5,976 · -20.9%
• By 2075: 5,077 · -32.8%
• By 2100: 4,196 · -44.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Hispanic / Latino 13% Two or more races 11% Black 1%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Italian 9% Lithuanian 3% Slovak 2%
• Foreign-born: 5% · Canada
• Languages at home: 90% English-only · Spanish 9% Russian/Polish/Slavic 1%

Political lean MEDSL · Hamilton

• 2024 margin: Solid R (+71.3) · D 14.0% · R 85.3%
• 2008→2024 swing: -18.0pp toward R · 2008: -53.3pp · 2024: -71.3pp
• All cycles: 2024: R+71.3 2020: R+68.4 2016: R+71.4 2012: R+65.5 2008: R+53.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 33.83%
• Current HPI: 226.8273
• 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

-39.7% since first listed

6 events — show timeline

• 2026-04-27 Listed $120,000 NTREIS
• 2023-05-31 Listing Removed — NTREIS
• 2022-12-01 Relisted — NTREIS
• 2022-11-02 Listing Removed — NTREIS
• 2022-05-03 Listed $199,000 NTREIS
• 2013-10-07 Sold (Public Records) — Public Records

Property tax history

+9.2%/yr

Latest (2025): $2,222 · +13.3% YoY. Source: county tax records.