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$76,533

For Sale - Active
1502 E Texas Ave, Mart, TX 76664
3 Beds
2 Baths
1,761 Square Feet
0.38 Acres Lot
Built in 1970
For Sale - Active
Units n/a
Checked: 9 hours ago
Updated: Aug 19, 2025 at 02:19PM

Investment Summary


Monthly Cash Flow
$267
Cap Rate
9.9%
Cash-on-Cash Return
18.2%
Debt Coverage Ratio
1.74
Internal Rate of Return (5 years)
21.8%

Property Description


0.38 Acres Lot
Built in 1970
For Sale - Active
Units n/a

The future looks bright for this lovely two-story home in Mart, TX! This fixer-upper property is surrounded by trees providing you with the perfect shade for those summer BBQs with your loved ones. The spacious kitchen and family room are sure to fit your needs as well. The family room provides you with ample room for you to enjoy gatherings, game nights, or quiet movie nights in. There are also tons of unique features attributed to this home like the exposed brick fireplace, built-in shelving, and a nice covered front porch area. With your personal touches and customizations, this is sure to be a stunner! This property is only steps away from schools and nice parks. You will appreciate the quick access to HWY 164 and the short 30 minute drive to Waco, TX. If you are looking to invest now, this is a fantastic opportunity to consider!

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Location


Property Details


Parking

  • Description: Attached, Garage
  • Details: Attached
  • Garage Spaces: 1
  • Spaces Total: 1

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Total): 2.0

Interior Features

  • # of Rooms: 3
  • # of Stories: 2

Exterior Features

  • Exterior Walls Materials: Vinyl siding
  • Foundation: Slab
  • Roof Material: Metal

Land Information

  • Land Use: Residential
  • Land Use Subtype: Single Family Residential

Lot Information

  • Parcel ID: 320180000129001
  • Lot Size: 16500 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Traditional
  • Year Built: 1970

Tax Information

  • Annual Tax: $2,391

Utilities

  • Heating: None, Other
  • Cooling: None, Other

Location

  • County: Mc Lennan

Listing Details


Listed by:
Dan Cook
SWE Homes
(713) 231-1125

Source:
Houston Association of REALTORS
MLS#: 10942507
Houston Association of REALTORS

Investment Summary


Monthly Cash Flow
$267
Cap Rate
9.9%
Cash-on-Cash Return
18.2%
Debt Coverage Ratio
1.74
Internal Rate of Return (5 years)
21.8%

Purchase Details

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Purchase price:
$76,533
Amount financed:
-$61,226
Down payment:
$15,307
Closing costs:
$2,296
Rehab costs:
$0
Initial cash invested:
$17,603
Square feet:
1,761
Cost per square foot:
$43
Monthly rent per square foot:
$0.68

Financing Details

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Loan amount:
$61,226
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$362
Property tax:
$199
Insurance:
$84
Private mortgage insurance (PMI):
$0
Monthly payment:
$645

Operating Income

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% Rent Monthly Yearly
Gross rent:
$1,200 $14,400
Vacancy loss: (6%)
6% -$72 -$864
Operating income:
$1,128 $13,536

Operating Expenses


% Rent Monthly Yearly
Property taxes: (17%)
17%-$199-$2,391
Insurance: (7%)
7%-$84-$1,008
Property management: (8%)
8%-$96-$1,152
Repairs & maintenance: (5%)
5%-$60-$720
Capital expenditures: (5%)
5%-$60-$720
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (42%)
42%-$499-$5,991

Cash Flow


Monthly Yearly
Net operating income:
$629 $7,548
Mortgage payments:
-$362 -$4,344
Cash flow:
$267 $3,204