893 County Road 3376

Copperas Cove, TX 76539

$159,000C+

3 bd · 2.0 ba · 1,152 sqft · Built 1992 · SingleFamily · Active · 83 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,792/mo
• Mortgage (P&I): −$834
• Tax + insurance: −$288
• HOA: −$0
• Vac / Maint / Mgmt: −$376
• Net cashflow: $295/mo
• Annual: $3,534/yr
• Cap rate: 8.52%
• Cash-on-cash: 7.94%
• DSCR: 1.35
• 1% rule: 1.13%
• Cash to close: $44,520

Investor read

• This is a 3-bed/2.0-bath single-family listed at $159k.
• At list price, monthly cash flow is $295 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $159k).
• It's been on market 83 days — a 6% lower offer ($149k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $149k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 65/100 on livability (#706 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D+, amenities F, commute F.
• Lampasas ISD (rural): math 42% / reading 46% proficiency, ranked #278 of 826 in TX (top 34%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Taylor Creek El (math 30% / reading 32%, grade F, #2,429 of 4,322 statewide, top 57%, 527 students, 54% FRL); Lampasas Middle (math 45% / reading 47%, grade D+, #462 of 1,662 statewide, top 28%, 800 students, 52% FRL); Lampasas H S (math 36% / reading 55%, grade D-, #634 of 1,632 statewide, top 39%, 1,095 students, 45% FRL).
• Market conditions: 147 active listings in the ZIP; 18 units permitted in Lampasas County in 2024 (0 in 5+ unit buildings).
• Lampasas County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• Climate carrying-cost: major wind risk, 53% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 6→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 8.5% vs local median 3.4% in Copperas Cove — 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.

Questions for listing agent

• It's been on market 83 days. Have you received any prior offers? Is the seller open to a 6% 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.
• 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.
• 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.
• 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.