3100 Janet Dr

Amarillo, TX 79109

$142,000D

2 bd · 2.0 ba · 1,198 sqft · Built 1983 · SingleFamily · Active · 3 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,219/mo
• Mortgage (P&I): −$745
• Tax + insurance: −$237
• HOA: −$0
• Vac / Maint / Mgmt: −$256
• Net cashflow: $-18/mo
• Annual: $-221/yr
• Cap rate: 6.14%
• Cash-on-cash: -0.56%
• DSCR: 0.98
• 1% rule: 0.86%
• Cash to close: $39,760

Investor read

• This is a 2-bed/2.0-bath single-family listed at $142k. Condition is rated good.
• At list price, monthly cash flow is $-18 ($-221/yr) — negative.
• To cash-flow at today's rent, offer at most $139k (1.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $122k (14.2% below list).
• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $122k (14.2% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $982 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 66/100 on livability (#624 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: amenities C-, crime F, commute F.
• Amarillo ISD (urban): math 44% / reading 41% proficiency, ranked #336 of 826 in TX (top 41%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Coronado El (math 37% / reading 37%, grade F, #1,769 of 4,322 statewide, top 44%, 418 students, 71% FRL); Austin Middle (math 47% / reading 43%, grade D, #479 of 1,662 statewide, top 29%, 677 students, 63% FRL); Tascosa H S (math 36% / reading 45%, grade F, #798 of 1,632 statewide, top 49%, 2,187 students, 57% FRL).
• Market conditions: Rents rising fast (+5.2%/yr); 157 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 1,214 units permitted in Potter County in 2024 (650 in 5+ unit buildings).
• 3 sale attempts since 6y 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.

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?
• 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?
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Minor: Landscaping — Needs trimming and mulching
• Minor: Kitchen cabinets — Worn and could benefit from a fresh coat of paint