2101 Hamilton St

Pampa, TX 79065

$102,750C+

3 bd · 2.0 ba · 1,370 sqft · Built — · SingleFamily · Active · 10 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,227/mo
• Mortgage (P&I): −$539
• Tax + insurance: −$191
• HOA: −$0
• Vac / Maint / Mgmt: −$258
• Net cashflow: $239/mo
• Annual: $2,872/yr
• Cap rate: 9.09%
• Cash-on-cash: 9.98%
• DSCR: 1.44
• 1% rule: 1.19%
• Cash to close: $28,770

Investor read

• This is a 3-bed/2.0-bath single-family listed at $103k.
• At list price, monthly cash flow is $239 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $103k).
• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $710 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 75/100 on livability (#128 in TX, #3,885 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, crime F, commute F.
• Pampa ISD (town): math 38% / reading 36% proficiency, ranked #482 of 826 in TX (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Austin El (math 37% / reading 52%, grade F, #1,155 of 4,322 statewide, top 29%, 471 students, 41% FRL); Pampa J H (math 32% / reading 31%, grade F, #997 of 1,662 statewide, top 61%, 738 students, 67% FRL); Pampa H S (math 49% / reading 37%, grade F, #713 of 1,632 statewide, top 44%, 1,046 students, 54% FRL) — zoned schools at 54% FRL track the district average.
• Market conditions: 182 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 7 units permitted in Gray County in 2024 (0 in 5+ unit buildings).
• Gray County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• 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 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.
• 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.