10745 Mirisa Trl

Socorro, TX 79927

$110,000C

2 bd · 1.0 ba · 624 sqft · Built 1973 · SingleFamily · Pending · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,178/mo
• Mortgage (P&I): −$577
• Tax + insurance: −$184
• HOA: −$0
• Vac / Maint / Mgmt: −$247
• Net cashflow: $170/mo
• Annual: $2,041/yr
• Cap rate: 8.15%
• Cash-on-cash: 6.63%
• DSCR: 1.29
• 1% rule: 1.07%
• Cash to close: $30,800

Investor read

• This is a 2-bed/1.0-bath single-family listed at $110k.
• At list price, monthly cash flow is $170 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-0.9%/yr); year-one equity from $761 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 63/100 on livability (#830 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Socorro ISD (urban): math 23% / reading 36% proficiency, ranked #624 of 826 in TX (top 76%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Escontrias Steam Academy (math 12% / reading 17%, grade F, #4,048 of 4,322 statewide, top 95%, 854 students, 88% FRL); Socorro Middle (math 14% / reading 27%, grade F, #1,407 of 1,662 statewide, top 86%, 540 students, 92% FRL); Socorro H S (math 13% / reading 35%, grade F, #1,333 of 1,632 statewide, top 82%, 2,484 students, 87% FRL) — zoned schools average 89% FRL vs 66% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+5.3%/yr); 219 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 2,196 units permitted in El Paso County in 2024 (143 in 5+ unit buildings).
• El Paso County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• Current owner paid $30k; list at $110k implies a 273% gain — meaningful room to come down on a strong offer.
• At projected returns (-0.9% appreciation + 5.3% rent growth), your $31k cash investment doubles in ~8 years — after that, you're playing with house money.
• Climate carrying-cost: extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Built in 1973 — 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 F-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.