129 Mystic Dr

George West, TX 78022

$80,000B-

3 bd · 2.0 ba · 1,056 sqft · Built 1900 · SingleFamily · Active · 248 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $900/mo
• Mortgage (P&I): −$420
• Tax + insurance: −$133
• HOA: −$0
• Vac / Maint / Mgmt: −$189
• Net cashflow: $158/mo
• Annual: $1,898/yr
• Cap rate: 8.67%
• Cash-on-cash: 8.47%
• DSCR: 1.38
• 1% rule: 1.12%
• Cash to close: $22,400

Investor read

• This is a 3-bed/2.0-bath single-family listed at $80k. Condition is rated poor.
• At list price, monthly cash flow is $158 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($900 rent vs $80k).
• It's been on market 248 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $553 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#177 in TX, #4,670 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime A; Watch: amenities F, commute F, employment F.
• George West ISD (rural): math 55% / reading 59% proficiency, ranked #95 of 826 in TX (top 12%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 44 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 12 units permitted in Live Oak County in 2024 (0 in 5+ unit buildings).
• Live Oak County population projected at +33% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Questions for listing agent

• It's been on market 248 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?
• Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.

Repairs flagged (vision-AI assessment)

• Major: roof — Missing shingles, exposed rafters
• Major: exterior siding — Weathered and peeling
• Major: HVAC/mechanicals — Exposed ductwork, debris
• Major: interior walls — Paint peeling, exposed drywall
• Major: kitchen cabinets — Exposed cabinets, debris
• Major: bathroom plumbing — Exposed plumbing, debris