1002 W Brown St

Alpine, TX 79830

$199,000D-

3 bd · 2.0 ba · 1,064 sqft · Built 2018 · SingleFamily · Active · 262 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,814/mo
• Mortgage (P&I): −$1,044
• Tax + insurance: −$263
• HOA: −$0
• Vac / Maint / Mgmt: −$381
• Net cashflow: $126/mo
• Annual: $1,517/yr
• Cap rate: 7.06%
• Cash-on-cash: 2.72%
• DSCR: 1.12
• 1% rule: 0.91%
• Cash to close: $55,720

Investor read

• This is a 3-bed/2.0-bath single-family listed at $199k. Condition is rated fair.
• At list price, monthly cash flow is $126 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $181k (8.9% below list).
• It's been on market 262 days — a 12% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $175k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 78/100 on livability (#73 in TX, #2,631 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities D+, commute F, employment F.
• Alpine ISD (town): math 43% / reading 53% proficiency, ranked #235 of 826 in TX (top 28%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 167 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 7 units permitted in Brewster County in 2024 (0 in 5+ unit buildings).
• Brewster County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• This rent runs 33% of the median local income ($67k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 262 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• 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.
• 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)

• Major: Exterior siding — Significant weathering and discoloration.
• Major: Flooring — Worn appearance and potential need for replacement.
• Major: Interior walls/paint — Chipped paint and potential need for repainting.
• Major: Bathroom fixtures — Aged appearance and potential need for replacement.
• Major: Kitchen cabinets — Dated appearance and potential need for replacement.
• Major: HVAC/mechanicals — No visible systems, but may require inspection for functionality and efficiency.