440 S Walnut St

Albany, TX 76430

$37,500A-

2 bd · 1.0 ba · 1,072 sqft · Built 1915 · SingleFamily · Pending · 4 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,080/mo
• Mortgage (P&I): −$197
• Tax + insurance: −$77
• HOA: −$0
• Vac / Maint / Mgmt: −$227
• Net cashflow: $579/mo
• Annual: $6,952/yr
• Cap rate: 24.83%
• Cash-on-cash: 66.21%
• DSCR: 3.95
• 1% rule: 2.88%
• Cash to close: $10,500

Investor read

• This is a 2-bed/1.0-bath single-family listed at $38k.
• At list price, monthly cash flow is $579 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $38k).
• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $528 of equity ($259 loan paydown + $269 appreciation (0.7% local appreciation)).
• Location reads 70/100 on livability (#361 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: health & safety D+, amenities D, commute F.
• Albany ISD (rural): math 38% / reading 43% proficiency, ranked #398 of 826 in TX (top 48%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Nancy Smith El (math 37% / reading 37%, grade F, #1,769 of 4,322 statewide, top 44%, 263 students, 51% FRL) — zoned schools average 51% FRL vs 35% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 17 active listings in the ZIP.
• Shackelford County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (0.7% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~2 years — after that, you're playing with house money.
• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Built in 1915 — 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 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.