101 1/2 Harvey St

Annona, TX 75550

$49,900B+

2 bd · 1.0 ba · 1,800 sqft · Built 1965 · SingleFamily · Active · 26 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,061/mo
• Mortgage (P&I): −$262
• Tax + insurance: −$83
• HOA: −$0
• Vac / Maint / Mgmt: −$223
• Net cashflow: $493/mo
• Annual: $5,920/yr
• Cap rate: 18.16%
• Cash-on-cash: 42.37%
• DSCR: 2.89
• 1% rule: 2.13%
• Cash to close: $13,972

Investor read

• This is a 2-bed/1.0-bath single-family listed at $50k.
• At list price, monthly cash flow is $493 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• It's been on market 26 days — a 2% lower offer ($49k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $49k (1.5% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($345 loan paydown + $1k appreciation (3.0% local appreciation)).
• Location reads 55/100 on livability (#1,358 in TX) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: amenities F, commute F, employment F.
• Clarksville ISD (town): math 20% / reading 27% proficiency, ranked #752 of 826 in TX (top 91%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 77% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Cheatham El (math 27% / reading 22%, grade F, #3,052 of 4,322 statewide, top 74%, 272 students, 93% FRL); Clarksville Middle And H S (math 17% / reading 32%, grade F, #1,264 of 1,632 statewide, top 82%, 250 students, 97% FRL) — zoned schools average 95% FRL vs 77% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 9 active listings in the ZIP; 14 units permitted in Red River County in 2024 (0 in 5+ unit buildings).
• Red River County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Questions for listing agent

• Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• 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.