c.1940 Texas Bungalow For Sale By Owner $49K – Hardwoods and Fireplace

OHU50K Notes     $49,000

Realtor Comments

Large home in Electra. Lots of space for the money. Hardwood floors and original features add character. Corner lot.

• 3 beds
• 2 bath
• 2,009 sqft
• 7,000 sqft lot
• Build date 1940

If interested in a property, pleases contact the realtor whose link is provided in the post below, or contact an agent of your own choosing. Independent verification of details and status is recommended.

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Pros

• A lot of house for the money. Around 2,000 sq. ft. for roughly $49K is inexpensive by Texas standards. Even allowing for repairs, the price-per-square-foot is attractive.
• 3 bedrooms / 2 bathrooms. That’s a practical layout for a family or rental property.
• Large interior. The house has considerably more living space than many of the other inexpensive homes currently on the Electra market.
• Corner lot. The 7,000-ish sq. ft. lot gives you decent outdoor space without being difficult to maintain.
• Original character. Hardwood floors, original features and a wood-burning fireplace could be appealing if you’re interested in an older home rather than a generic remodel.
• Public utilities. Public water and sewer are listed, which is preferable to having to maintain a private well/septic system.
• Flood risk looks favorable. First Street/Realtor data rates the property’s flood risk as minimal, and Redfin gives it a 1/10 Flood Factor.
• Electra is a very inexpensive housing market. The city’s median sale price was about $122K over the three months ending June 2026, although the market is extremely small and only four homes sold in June.
• Potential rental opportunity. Zillow/Trulia estimate rent around $1,698/month, although I’d treat that as an automated estimate rather than a guaranteed achievable rent.

Cons

• It’s an 86-year-old house. Built in 1940, so plumbing, electrical, roof, foundation, HVAC and insulation deserve serious inspection.
• Pier-and-beam foundation. The property is listed with a pier foundation. That’s not inherently bad, but on an older Texas home I’d absolutely get a foundation inspection and look underneath the house for moisture, damaged piers, plumbing leaks and wood deterioration.
• Wildfire/heat exposure. This is probably the biggest environmental concern. Realtor/First Street rates the property Severe for fire and heat, with approximately seven days above 109°F expected this year.
• Severe weather/wind. The property has a moderate projected risk from severe winds. I’d pay close attention to the roof, windows, insurance availability and wind/hail deductible.
• Small-town resale market. Electra’s housing market is very thin. Homes averaged roughly 177 days on market, and only four sales occurred in June 2026. That means you shouldn’t assume you’ll be able to quickly resell the property if your plans change.
• School ratings are weak. Electra Elementary and Electra Junior/Senior High are both shown as 4/10 by GreatSchools. If schools are important to you, this is worth considering.
• Limited amenities. Realtor’s neighborhood data gives Southland relatively low scores for restaurants, groceries and cafes. You’re living in a small, rural community, so expect fewer shopping, dining and entertainment choices.
• The property’s price history is unusual. It sold for $28K in 2019, was listed around $99K in late 2025, and is now appearing around $49K. That’s a big swing and makes me want to understand exactly what work has—or hasn’t—been done.
• Condition is the big unknown. The low asking price could be a fantastic opportunity, or it could simply reflect substantial deferred maintenance.