8322 Bayside Dr

Rowlett, TX 75088

$317,496D-

3 bd · 2.5 ba · 1,831 sqft · Built 2026 · Land · Pending · 118 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,559/mo
• Mortgage (P&I): −$1,665
• Tax + insurance: −$300
• HOA: −$253
• Vac / Maint / Mgmt: −$537
• Net cashflow: $-196/mo
• Annual: $-2,350/yr
• Cap rate: 5.55%
• Cash-on-cash: -2.64%
• DSCR: 0.88
• 1% rule: 0.81%
• Cash to close: $88,899

Investor read

• This is a 3-bed/2.5-bath land listed at $317k.
• At list price, monthly cash flow is $-196 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $283k (10.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $256k (19.4% below list).
• It's been on market 118 days — a 9% lower offer ($289k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $256k (19.4% 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 $10k of value loss. Plan a longer hold.
• Location reads 75/100 on livability (#147 in TX, #4,150 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A-; Watch: amenities F, commute F, health & safety D-.
• Garland ISD (suburban): math 27% / reading 37% proficiency, ranked #553 of 826 in TX (top 67%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents soft (-1.2%/yr); 299 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 9d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 12,577 units permitted in Dallas County in 2024 (6,829 in 5+ unit buildings).
• Dallas County population projected at +35% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Cap rate 5.6% vs local median 3.1% in Rowlett — 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

• 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 118 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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.
• 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.
• 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.