203 N 7th St · Memphis, TX 79245

$94,000

3 bd · 2.0 ba · 1,268 sqft · SingleFamily public records · 103 Days on market

Built 1950 5,000 sqft lot $74/sqft · 69% above area

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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 +29.0/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +7.2/10.0
• 1% rule +7.1/10.0
• Livability +3.2/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Welcome to 203 N. 7th St in Memphis, TX! Built in 1984, this 1,268 square foot home offers comfortable living with a practical layout and manageable 5,009 square foot lot. Inside, you’ll find inviting living spaces filled with natural light and a functional floor plan designed for everyday living. The home offers well-proportioned rooms that provide flexibility for family life, guests, or a home office setup. Outside, the property features a low-maintenance yard with space to relax, garden, or entertain. Whether you’re a first-time buyer, downsizing, or looking for small-town charm, this home presents a great opportunity at an affordable value.

Key facts

• Space to entertain
• Low maintenance yard
• Space to relax

Tags

• NATURAL LIGHT
• FUNCTIONAL FLOOR PLAN
• LOW MAINTENANCE YARD
• SPACE TO RELAX
• SPACE TO GARDEN
• SPACE TO ENTERTAIN

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $94k.

Deal economics

• At list price, monthly cash flow is $322 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $94k).
• Recommended offer: $86k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#754 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Memphis ISD (rural): math 34% / reading 36% proficiency, ranked #555 of 826 in TX (top 67%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 20 active listings in the ZIP.

Forward outlook

• In year one you build about $5k of equity ($650 loan paydown + $4k appreciation (4.5% local appreciation)).
• Hall County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.5% appreciation + 3.0% rent growth), your $26k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 103 days — a 9% lower offer ($86k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 8y ago; this cycle's ask has dropped $5k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1950 — 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 $85,540 (9.0% below list)

Questions for the listing agent

1. It's been on market 103 days. Have you received any prior offers? Is the seller open to a 9% 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. 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: 1.21% ✓
• Cap rate: 10.41%
• Cash-on-cash: 14.69%
• DSCR: 1.65
• GRM: 6.9

CMA / ARV

• ARV (median comp): $56,943
• List price: $94,000
• Delta: 65.08%
• Verdict: OVERPRICED
• Comps: 5 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1415 W Brice St	0.53mi	3/1.0	1,296 (+2%)	14mo	$59,000	$46	56
505 N 9th St	0.25mi	2/1.0 (-1)	1,397 (+10%)	12mo	$49,900	$36	52

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

Projected returns pro-forma

4.49% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 24.5%
• Equity multiple: 2.50×
• Total profit: $39,438
• Equity at exit: $50,375

10-year hold

• IRR: 24.1%
• Equity multiple: 4.91×
• Total profit: $102,814
• Equity at exit: $84,636

Cash invested: $26,320 (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 79245

• Home prices YoY: 4.6%
• Active inventory: 20
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,140 medium
• Mortgage (P&I): −$493
• Tax from tax record: −$46 /mo · $556/yr
• Insurance: −$39
• HOA: −$0
• Vacancy / Maint / Mgmt: −$239
• Net cashflow: $322

Break-even live

Break-even rent $732

Max offer price $94,000

Occupancy floor 67%

Sensitivity live

Price	-10% $375	-5% $349	+0% $322	+5% $296	+10% $269
Rent	-10% $232	-5% $277	+0% $322	+5% $367	+10% $412
Rate	-1.0pp $370	-0.5pp $346	base $322	+0.5pp $298	+1.0pp $273

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: $23,500
• Closing costs: $2,820
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-21
   days on market $94,000 Active 103 DOM
2. 2026-06-18
   days on market $94,000 Active 101 DOM
3. 2026-06-17
   days on market $94,000 Active 100 DOM
4. 2026-06-16
   days on market $94,000 Active 99 DOM
5. 2026-06-15
   days on market $94,000 Active 98 DOM
6. 2026-06-15
   days on market $94,000 Active 97 DOM
7. 2026-06-13
   days on market $94,000 Active 96 DOM
8. 2026-06-12
   days on market $94,000 Active 95 DOM
9. 2026-06-10
   days on market $94,000 Active 92 DOM
10. 2026-06-08
    days on market $94,000 Active 91 DOM
11. 2026-06-08
    days on market $94,000 Active 90 DOM
12. 2026-06-05
    days on market $94,000 Active 88 DOM
13. 2026-06-03
    days on market $94,000 Active 86 DOM
14. 2026-06-02
    days on market $94,000 Active 85 DOM
15. 2026-06-01
    days on market $94,000 Active 84 DOM
16. 2026-05-31
    days on market $94,000 Active 83 DOM
17. 2026-03-20
    price $94,000 667-char remark

    Show marketing remark (667 chars)

    Welcome to 203 N. 7th St in Memphis, TX! Built in 1984, this 1,268 square foot home offers comfortable living with a practical layout and manageable 5,009 square foot lot. Inside, you’ll find inviting living spaces filled with natural light and a functional floor plan designed for everyday living. The home offers well-proportioned rooms that provide flexibility for family life, guests, or a home office setup. Outside, the property features a low-maintenance yard with space to relax, garden, or entertain. Whether you’re a first-time buyer, downsizing, or looking for small-town charm, this home presents a great opportunity at an affordable value.

18. 2026-03-09
    listed $99,000 Active 667-char remark

    Show marketing remark (667 chars)

    Welcome to 203 N. 7th St in Memphis, TX! Built in 1984, this 1,268 square foot home offers comfortable living with a practical layout and manageable 5,009 square foot lot. Inside, you’ll find inviting living spaces filled with natural light and a functional floor plan designed for everyday living. The home offers well-proportioned rooms that provide flexibility for family life, guests, or a home office setup. Outside, the property features a low-maintenance yard with space to relax, garden, or entertain. Whether you’re a first-time buyer, downsizing, or looking for small-town charm, this home presents a great opportunity at an affordable value.

19. 2024-03-20
    listed Active Under Contract
20. 2020-12-08
    listed $54,000
21. 2019-01-11
    soldstatus
22. 2018-07-11
    listed $15,000

ⓘ 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: $556 · $46/mo
• Projected year-2 tax: $1,720 · $143/mo
• Expected delta: +$1,164/yr (+$97/mo · 209.5%)

ⓘ 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 8/10 Severe
• 🌡 Heat 6/10 Major 7 d/yr ≥106°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: $13,680
• − Mortgage interest: −$5,265
• − Property taxes: −$556
• − Insurance: −$470
• − Repairs & maintenance: −$1,094
• − Management: −$1,094
• − Depreciation: −$2,735
• Taxable income: $2,465
• Est. tax owed @ 24.0%: −$592
• After-tax cash flow: $3,274/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: Memphis ISD
• NCES district ID: 4830180
• Math proficiency: 34% ▼ -10.00%
• Reading proficiency: 36% ▼ -1.00%
• Median HH income: $31,827
• Composite: 28.61/100
• National rank: #6711
• State rank: #555 of 826 in TX

Livability — Memphis

• Score: 64/100
• State rank: #754
• US rank: #13886

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Memphis, TX
• Population (ZIP): 2,291

Population outlook (Hall County) Hauer SSP2

• Today (2025): 2,857 people
• By 2030: 2,714 · -5.0%
• By 2040: 2,467 · -13.7%
• By 2050: 2,202 · -22.9%
• By 2075: 1,662 · -41.8%
• By 2100: 1,127 · -60.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 52% Hispanic / Latino 36% Two or more races 16% Black 6% Native American 1%
• Hispanic origin (detail): Mexican 26%
• Common ancestry: Italian 2% European 2% Slovak 1%
• Foreign-born: 10% · Canada
• Languages at home: 71% English-only · Spanish 29%

Political lean MEDSL · Hall

• 2024 margin: Solid R (+73.4) · D 13.0% · R 86.3%
• 2008→2024 swing: -25.4pp toward R · 2008: -48.0pp · 2024: -73.4pp
• All cycles: 2024: R+73.4 2020: R+70.8 2016: R+66.8 2012: R+51.2 2008: R+48.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.49%
• Current HPI: 101.6222
• 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

+526.7% since first listed

6 events — show timeline

• 2026-03-20 Price Changed $94,000 NTREIS
• 2026-03-09 Listed $99,000 NTREIS
• 2024-03-20 Listed — PARMLS
• 2020-12-08 Listed $54,000 PARMLS
• 2019-01-11 Sold (MLS) — AARMLS
• 2018-07-11 Listed $15,000 AARMLS

Property tax history

+3.7%/yr

Latest (2025): $556 · +35.3% YoY. Source: county tax records.