230 Napp St

De Kalb, TX 75559

$117,000C

3 bd · 2.0 ba · 1,560 sqft · Built — · SingleFamily · Active · 86 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,300/mo
• Mortgage (P&I): −$614
• Tax + insurance: −$265
• HOA: −$0
• Vac / Maint / Mgmt: −$273
• Net cashflow: $148/mo
• Annual: $1,782/yr
• Cap rate: 7.82%
• Cash-on-cash: 5.44%
• DSCR: 1.24
• 1% rule: 1.11%
• Cash to close: $32,760

Investor read

• This is a 3-bed/2.0-bath single-family listed at $117k.
• At list price, monthly cash flow is $148 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $117k).
• It's been on market 86 days — a 6% lower offer ($110k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $110k (6.0% below list) — sets the bar for market timing.
• In year one you build about $4k of equity ($809 loan paydown + $4k appreciation (3.0% local appreciation)).
• Location reads 65/100 on livability (#721 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D-, amenities F, commute F.
• Dekalb ISD (rural): math 44% / reading 38% proficiency, ranked #403 of 826 in TX (top 49%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 105 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 137 units permitted in Bowie County in 2024 (5 in 5+ unit buildings).
• 8 sale attempts since 4y 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 (3.0% appreciation + 3.0% rent growth), your $33k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 86 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• 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 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?
• 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.