217 Buffalo Dr

Comanche, TX 76442

$111,000C-

3 bd · 2.0 ba · 384 sqft · Built 1971 · SingleFamily · Active · 153 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,182/mo
• Mortgage (P&I): −$582
• Tax + insurance: −$185
• HOA: −$0
• Vac / Maint / Mgmt: −$248
• Net cashflow: $167/mo
• Annual: $2,000/yr
• Cap rate: 8.09%
• Cash-on-cash: 6.43%
• DSCR: 1.29
• 1% rule: 1.06%
• Cash to close: $31,080

Investor read

• This is a 3-bed/2.0-bath single-family listed at $111k.
• At list price, monthly cash flow is $167 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $111k).
• It's been on market 153 days — a 12% lower offer ($98k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $98k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $767 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 64/100 on livability (#763 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D+, health & safety D+, amenities F.
• De Leon ISD (rural): math 46% / reading 53% proficiency, ranked #207 of 826 in TX (top 25%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: De Leon El (math 47% / reading 57%, grade C-, #742 of 4,322 statewide, top 19%, 349 students, 67% FRL); Perkins Middle (math 47% / reading 47%, grade D+, #424 of 1,662 statewide, top 27%, 153 students, 60% FRL); De Leon H S (math 37% / reading 64%, grade D+, #489 of 1,632 statewide, top 30%, 218 students, 56% FRL).
• Market conditions: 172 active listings in the ZIP; 4 units permitted in Comanche County in 2024 (0 in 5+ unit buildings).
• Comanche County population projected at -29% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 5 sale attempts since 6y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 8.1% vs local median 2.1% in Comanche — 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 153 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 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?
• 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?
• 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.