292 JJ Craver Rd

Pine Harbor, TX 75651

$99,900C+

2 bd · 1.0 ba · 1,081 sqft · Built 2007 · SingleFamily · Active · 189 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,154/mo
• Mortgage (P&I): −$524
• Tax + insurance: −$166
• HOA: −$0
• Vac / Maint / Mgmt: −$242
• Net cashflow: $221/mo
• Annual: $2,658/yr
• Cap rate: 8.95%
• Cash-on-cash: 9.50%
• DSCR: 1.42
• 1% rule: 1.16%
• Cash to close: $27,972

Investor read

• This is a 2-bed/1.0-bath single-family listed at $100k. Condition is rated fair.
• At list price, monthly cash flow is $221 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• It's been on market 189 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $88k (12.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($691 loan paydown + $842 appreciation (0.8% local appreciation)).
• Location reads 50/100 on livability (#1,494 in TX) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: crime F, amenities F, commute F.
• Harleton ISD (rural): math 55% / reading 58% proficiency, ranked #104 of 826 in TX (top 13%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Harleton El (math 47% / reading 57%, grade C-, #742 of 4,322 statewide, top 19%, 332 students, 53% FRL); Harleton J H (math 62% / reading 57%, grade B, #166 of 1,662 statewide, top 11%, 161 students, 48% FRL); Harleton H S (math 54% / reading 62%, grade C, #319 of 1,632 statewide, top 20%, 212 students, 41% FRL).
• Market conditions: 46 active listings in the ZIP; 85 units permitted in Harrison County in 2024 (15 in 5+ unit buildings).
• 3 sale attempts since 2y 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.
• At projected returns (0.8% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~6 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 189 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• 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 F 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.

Repairs flagged (vision-AI assessment)

• Major: roof — Significant rust and deterioration
• Major: exterior siding — Worn and peeling
• Major: flooring — Worn and in need of replacement