304 E 1st Ave · Corsicana, TX 75110

$75,000

3 bd · 1.0 ba · 1,400 sqft · SingleFamily public records · 89 Days on market

Built 1950 7,492 sqft lot ↓ 6% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

An incredible investment opportunity is right at your fingertips and crying out for you to scratch your inner handyman. 304 E 1st Avenue is perfectly situated in close proximity to the award winning Downtown Corsicana, grocery shopping, the YMCA, and community parks. The bones are good; with a little bit of sweat and imagination, this gem will shine.

Key facts

• 7,492 sq ft lot
• Built 1950
• Listed 89 days

Tags

• INVESTMENT OPPORTUNITY
• CLOSE PROXIMITY TO YMCA

Property features AI

Finance

• Other: Property is not in a municipal utility district
• Financial info: Listing accepted as part of a probate sale; Acceptable financing: Cash, Conventional, 1031 Exchange
• HOA & community: No homeowners association

Exterior

• Parking: Off-street open parking
• Utilities: City water; City sewer; Electricity available and connected; Individual gas meter; Overhead utilities; All-weather road access
• Home design: Single family residence; One story; Residential property; Built in 1950
• Construction: Composition roof; Pillar/post/pier foundation
• Exterior features: Chain link fenced front yard; Fenced property with large backyard and some trees; Covered patio/porch

Interior

• Kitchen: Plumbed for gas in kitchen; Built-in cabinets; Eat-in kitchen; Utility area in kitchen
• Bedrooms: Primary bedroom (12 x 13); Bedroom (12 x 13); Bedroom (10 x 13)
• Flooring: Carpet; Vinyl; Wood under carpet
• Bathrooms: One full bathroom with garden tub (7 x 9)
• Heating & cooling: Gas jets heating
• Interior features: Eat-in kitchen; Six total rooms; One living area; Covered patio/porch
• Laundry & utility: Electric dryer hookup; Laundry located in kitchen

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• Recommended offer: $70k (6.0% below list) — sets the bar for market timing.
• Cap rate 22.3% vs local median 4.5% 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, crime F, commute 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.
• Zoned schools: Fannin El (math 27% / reading 22%, grade F, #3,052 of 4,322 statewide, top 74%, 399 students, 84% FRL) — zoned schools average 84% FRL vs 65% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 24% at this address vs 38% district-wide (-14 pts) — the specific schools serving this property underperform the Corsicana ISD average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-1.5%/yr); 268 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 83% 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 41% 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 $519 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $21k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 89 days — a 6% lower offer ($70k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 58% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $70,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 89 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 1950 — 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: 2.60% ✓
• Cap rate: 22.31%
• Cash-on-cash: 57.20%
• DSCR: 3.54
• GRM: 3.2

CMA / ARV

• ARV (on-the-fly): $190,400
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
304 E 1st Ave	0.00mi	3/1.0	1,400 (0%)	1mo	$75,000	$54	99
507 N Beaton St	0.14mi	3/1.0	1,456 (+4%)	7mo	$103,000	$71	81
710 E 3rd Ave	0.29mi	3/2.0	1,288 (-8%)	10mo	$189,500	$147	61
815 E Collin St	0.51mi	3/2.0	1,350 (-4%)	10mo	$229,000	$170	58
609 Martin Luther King Jr Blvd	0.55mi	3/1.5	1,320 (-6%)	11mo	$179,900	$136	54
1304 E 4th Ave	0.64mi	3/1.0	1,480 (+6%)	11mo	$135,000	$91	51
317 E 14th Ave	0.49mi	3/2.5	1,567 (+12%)	2mo	$277,000	$177	50
906 N Commerce St	0.60mi	3/2.0	1,260 (-10%)	3mo	$82,500	$65	49
511 S 3rd St	0.75mi	2/1.0 (-1)	1,410 (+1%)	15mo	$99,000	$70	46
1320 E 3rd Ave	0.67mi	4/2.5 (+1)	1,510 (+8%)	8mo	$229,900	$152	38
150 E Rob Ave	0.65mi	4/1.0 (+1)	1,286 (-8%)	16mo	$147,000	$114	38
1314 E 3rd Ave	0.64mi	3/2.0	1,565 (+12%)	10mo	$249,000	$159	38

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: 52.2%
• Equity multiple: 3.19×
• Total profit: $45,934
• Equity at exit: $11,183

10-year hold

• IRR: 56.3%
• Equity multiple: 5.77×
• Total profit: $100,207
• Equity at exit: $6,485

Cash invested: $21,000 (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: 268
• Price-to-rent: 3.2×

Monthly cashflow live

• Estimated rent: $1,947 high
• Mortgage (P&I): −$393
• Tax from tax record: −$112 /mo · $1,348/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$409
• Net cashflow: $1,001

Break-even live

Break-even rent $680

Max offer price $75,000

Occupancy floor 44%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
421 N 5th St Corsicana, TX	4.0	2.0	1664	$2,400	$1.44	44d	1	0.27mi
1624 E Collin St Corsicana, TX	3.0	2.0	1339	$2,000	$1.49	44d	1	0.92mi
1306 Liveoak Ave Corsicana, TX	3.0	1.0	1080	$1,300	$1.20	5d	1	1.00mi
1505 Woodlawn Ave Corsicana, TX	3.0	2.0	1220	$1,900	$1.56	44d	1	1.20mi
1509 W Collin St Corsicana, TX	3.0	2.0	1290	$1,850	$1.43	44d	1	1.26mi
421 Forrest Ln Corsicana, TX	3.0	2.0	1528	$2,000	$1.31	44d	1	1.48mi

Listing history 5 events

1. 2026-05-09
   status Pending
2. 2026-05-01
   historical Active Option Contract
3. 2026-04-15
   price $75,000
4. 2026-02-09
   listed $79,900 Active
5. 1990-02-14
   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: $1,348 · $112/mo
• Projected year-2 tax: $1,372 · $114/mo
• Expected delta: +$25/yr (+$2/mo · 1.8%)

ⓘ 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 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 26 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 58% 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: $23,360
• − Mortgage interest: −$4,201
• − Property taxes: −$1,348
• − Insurance: −$375
• − Repairs & maintenance: −$1,869
• − Management: −$1,869
• − Depreciation: −$2,182
• Taxable income: $11,516
• Est. tax owed @ 24.0%: −$2,764
• After-tax cash flow: $9,248/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

-6.1% since first listed

5 events — show timeline

• 2026-05-09 Pending — NTREIS
• 2026-05-01 Contingent — NTREIS
• 2026-04-15 Price Changed $75,000 NTREIS
• 2026-02-09 Listed $79,900 NTREIS
• 1990-02-14 Sold (Public Records) — Public Records

Property tax history

+5.9%/yr

Latest (2025): $1,348 · -26.5% YoY. Source: county tax records.