JUSTIN Plan

Granbury, TX 76048

$300,990F

4 bd · 2.0 ba · 1,899 sqft · Built — · SingleFamily · Active · 228 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,920/mo
• Mortgage (P&I): −$1,627
• Tax + insurance: −$517
• HOA: −$0
• Vac / Maint / Mgmt: −$403
• Net cashflow: $-627/mo
• Annual: $-7,519/yr
• Cap rate: 3.87%
• Cash-on-cash: -8.66%
• DSCR: 0.61
• 1% rule: 0.62%
• Cash to close: $86,852

Investor read

• This is a 4-bed/2.0-bath single-family listed at $301k. Condition is rated good.
• At list price, monthly cash flow is $-627 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $220k (27.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $192k (36.2% below list).
• It's been on market 228 days — a 12% lower offer ($265k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $192k (36.2% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Location reads 66/100 on livability (#628 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, crime D+, amenities F.
• Granbury ISD (town): math 46% / reading 46% proficiency, ranked #237 of 826 in TX (top 29%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Nettie Baccus El (math 39% / reading 36%, grade F, #1,744 of 4,322 statewide, top 41%, 466 students, 81% FRL); Granbury Middle (math 35% / reading 40%, grade F, #736 of 1,662 statewide, top 45%, 846 students, 68% FRL); Granbury H S (math 38% / reading 51%, grade F, #652 of 1,632 statewide, top 43%, 2,202 students, 46% FRL) — zoned schools average 65% FRL vs 43% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.1%/yr); 1110 active listings in the ZIP; 125 units permitted in Hood County in 2024 (0 in 5+ unit buildings).
• Hood County population projected at +29% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• This rent runs 33% of the median local income ($70k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 228 days. Have you received any prior offers? Is the seller open to a 36% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• Crime grade is D 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.