111 2nd St · McLean, TX 79061

$79,999

2 bd · 1.0 ba · 948 sqft · SingleFamily public records · 327 Days on market

Built 1960 7,405 sqft lot

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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 +26.1/30.0
• DSCR +8.8/10.0
• ARV discount +7.5/15.0
• 1% rule +5.9/10.0
• Appreciation +5.0/10.0
• Schools +4.6/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Charming and beautifully renovated 2-bedroom, 1-bath home located in the heart of peaceful McLean. Just minutes from I-40, this house is great if you need to commute regularly or need quick access to the interstate. This move-in ready gem features a spacious living room, updated kitchen, and a separate laundry room that has potential as a third room, office, or flex space. Enjoy the outdoors with a fully fenced backyard, great for pets or entertaining. The oversized detached garage provides ample space for your vehicle, storage, or a workshop. Centrally located and full of charm- this home has the blend of comfort, convenience, and value.

Key facts

• Centrally located
• Updated kitchen
• 7,405 sq ft lot

Tags

• UPDATED KITCHEN
• SEPARATE LAUNDRY ROOM
• FULLY FENCED BACKYARD
• OVERSIZED DETACHED GARAGE
• CENTRALLY LOCATED

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $201 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($874 rent vs $80k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#896 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: schools C-, employment D, amenities F.
• Mclean ISD (rural): math 55% / reading 50% proficiency, ranked #297 of 1,141 in TX (top 26%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 14 active listings in the ZIP; 7 units permitted in Gray County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($553 loan paydown + $2k appreciation (3.0% local appreciation)).
• Gray County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 327 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major 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 $70,399 (12.0% below list)

Questions for the listing agent

1. It's been on market 327 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 1960 — 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. 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.
6. 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.
7. 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: 1.09% ✓
• Cap rate: 9.31%
• Cash-on-cash: 10.76%
• DSCR: 1.48
• GRM: 7.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 17.6%
• Equity multiple: 2.00×
• Total profit: $22,403
• Equity at exit: $35,971

10-year hold

• IRR: 19.0%
• Equity multiple: 3.76×
• Total profit: $61,803
• Equity at exit: $55,436

Cash invested: $22,400 (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 79061

• Active inventory: 14
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $874 medium
• Mortgage (P&I): −$420
• Tax from tax record: −$37 /mo · $440/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$184
• Net cashflow: $201

Break-even live

Break-even rent $620

Max offer price $79,999

Occupancy floor 72%

Sensitivity live

Price	-10% $246	-5% $223	+0% $201	+5% $178	+10% $156
Rent	-10% $132	-5% $166	+0% $201	+5% $235	+10% $270
Rate	-1.0pp $241	-0.5pp $221	base $201	+0.5pp $180	+1.0pp $159

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-21
   days on market $79,999 Active 327 DOM
2. 2026-06-21
   days on market $79,999 Active 326 DOM
3. 2026-06-18
   days on market $79,999 Active 324 DOM
4. 2026-06-17
   days on market $79,999 Active 323 DOM
5. 2026-06-16
   days on market $79,999 Active 322 DOM
6. 2026-06-15
   days on market $79,999 Active 321 DOM
7. 2026-06-15
   days on market $79,999 Active 320 DOM
8. 2026-06-13
   days on market $79,999 Active 319 DOM
9. 2026-06-12
   days on market $79,999 Active 318 DOM
10. 2026-06-10
    days on market $79,999 Active 315 DOM
11. 2026-06-08
    days on market $79,999 Active 314 DOM
12. 2026-06-08
    days on market $79,999 Active 313 DOM
13. 2026-06-05
    days on market $79,999 Active 311 DOM
14. 2026-06-03
    days on market $79,999 Active 309 DOM
15. 2026-06-02
    days on market $79,999 Active 308 DOM
16. 2026-06-01
    days on market $79,999 Active 307 DOM
17. 2026-05-31
    days on market $79,999 Active 306 DOM
18. 2025-07-29
    listed $79,999 Active 646-char remark

    Show marketing remark (646 chars)

    Charming and beautifully renovated 2-bedroom, 1-bath home located in the heart of peaceful McLean. Just minutes from I-40, this house is great if you need to commute regularly or need quick access to the interstate. This move-in ready gem features a spacious living room, updated kitchen, and a separate laundry room that has potential as a third room, office, or flex space. Enjoy the outdoors with a fully fenced backyard, great for pets or entertaining. The oversized detached garage provides ample space for your vehicle, storage, or a workshop. Centrally located and full of charm- this home has the blend of comfort, convenience, and value.

19. 2023-09-27
    soldstatus
20. 2018-03-21
    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: $440 · $37/mo
• Projected year-2 tax: $1,464 · $122/mo
• Expected delta: +$1,024/yr (+$85/mo · 232.5%)

ⓘ 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 7/10 Severe
• 🌡 Heat 5/10 Major 7 d/yr ≥100°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $10,487
• − Mortgage interest: −$4,481
• − Property taxes: −$440
• − Insurance: −$400
• − Repairs & maintenance: −$839
• − Management: −$839
• − Depreciation: −$2,327
• Taxable income: $1,160
• Est. tax owed @ 24.0%: −$278
• After-tax cash flow: $2,132/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: Mclean ISD
• NCES district ID: 4829880
• Math proficiency: 55% ▬ 0.00%
• Reading proficiency: 50% ▲ 5.00%
• Median HH income: $42,711
• Composite: 46.09/100
• National rank: #5480
• State rank: #297 of 1141 in TX

Livability — McLean

• Score: 63/100
• State rank: #896
• US rank: #16067

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: McLean, TX
• Population (ZIP): 282

Population outlook (Gray County) Hauer SSP2

• Today (2025): 24,965 people
• By 2030: 26,105 · +4.6%
• By 2040: 28,752 · +15.2%
• By 2050: 31,859 · +27.6%
• By 2075: 39,812 · +59.5%
• By 2100: 43,284 · +73.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (52%)
• Race & ethnicity: White 52% Hispanic / Latino 44% Black 1% Asian 1%
• Hispanic origin (detail): Mexican 44%
• Common ancestry: Italian 2% Portuguese 1%
• Foreign-born: 19% · Canada
• Languages at home: 57% English-only · Spanish 42% Tagalog/Filipino 1%

Political lean MEDSL · Gray

• 2024 margin: Solid R (+77.1) · D 11.2% · R 88.3%
• 2008→2024 swing: -6.2pp toward R · 2008: -71.0pp · 2024: -77.1pp
• All cycles: 2024: R+77.1 2020: R+77.2 2016: R+78.8 2012: R+75.2 2008: R+71.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

3 events — show timeline

• 2025-07-29 Listed $79,999 HARMLS
• 2023-09-27 Sold (Public Records) — Public Records
• 2018-03-21 Sold (Public Records) — Public Records

Property tax history

+2.4%/yr

Latest (2025): $440 · +41.3% YoY. Source: county tax records.