3363 Cascades Blvd #217 Blvd

Tyler, TX 75709

$450,000D

4 bd · 3.5 ba · 2,502 sqft · Built 2007 · SingleFamily · Active · 18 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,500/mo
• Mortgage (P&I): −$2,360
• Tax + insurance: −$726
• HOA: −$602
• Vac / Maint / Mgmt: −$945
• Net cashflow: $-133/mo
• Annual: $-1,598/yr
• Cap rate: 6.12%
• Cash-on-cash: -0.64%
• DSCR: 0.97
• 1% rule: 1.00%
• Cash to close: $126,000

Investor read

• This is a 4-bed/3.5-bath single-family listed at $450k.
• At list price, monthly cash flow is $-133 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $426k (5.2% below list).
• Meets the 1% rule at list price ($4k rent vs $450k).
• It's been on market 18 days — a 2% lower offer ($443k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $426k (5.2% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $14k of value loss. Plan a longer hold.
• Location reads 75/100 on livability (#147 in TX, #4,181 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, crime D+, commute F.
• Tyler ISD (urban): math 39% / reading 38% proficiency, ranked #449 of 826 in TX (top 54%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Jones El (math 37% / reading 37%, grade F, #1,769 of 4,322 statewide, top 44%, 345 students, 92% FRL); Three Lakes Middle (math 35% / reading 42%, grade F, #704 of 1,662 statewide, top 43%, 873 students, 64% FRL); Tyler Legacy H S (math 34% / reading 49%, grade F, #767 of 1,632 statewide, top 47%, 2,594 students, 58% FRL).
• Watch-outs: flood insurance adds $66/mo.
• Market conditions: 90 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 595 units permitted in Smith County in 2024 (45 in 5+ unit buildings).
• Smith County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Climate carrying-cost: severe flood risk; major wind risk, 67% chance of damaging wind over 30y; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.1% vs local median 3.6% in Tyler — 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?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-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?
• 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.