474 Peach

Leming, TX 78050

$300,000D

4 bd · 2.0 ba · 2,356 sqft · Built 2019 · Townhouse · Active · 271 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,000/mo
• Mortgage (P&I): −$1,573
• Tax + insurance: −$462
• HOA: −$0
• Vac / Maint / Mgmt: −$420
• Net cashflow: $-456/mo
• Annual: $-5,468/yr
• Cap rate: 4.47%
• Cash-on-cash: -6.51%
• DSCR: 0.71
• 1% rule: 0.67%
• Cash to close: $84,000

Investor read

• This is a 4-bed/2.0-bath townhouse listed at $300k.
• At list price, monthly cash flow is $-456 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $220k (26.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $200k (33.3% below list).
• It's been on market 271 days — a 12% lower offer ($264k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $200k (33.3% below list) — sets the bar for 1% rule.
• In year one you build about $11k of equity ($2k loan paydown + $9k appreciation (3.0% local appreciation)).
• Location reads 44/100 on livability (#1,568 in TX) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: amenities F, commute F, employment F.
• Pleasanton ISD (town): math 36% / reading 37% proficiency, ranked #470 of 826 in TX (top 57%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Pleasanton El (math 35% / reading 35%, grade F, #1,965 of 4,322 statewide, top 46%, 958 students, 70% FRL); Pleasanton J H (math 30% / reading 34%, grade F, #971 of 1,662 statewide, top 60%, 772 students, 66% FRL); Pleasanton H S (math 59% / reading 51%, grade C, #373 of 1,632 statewide, top 23%, 944 students, 60% FRL).
• Market conditions: 2 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 224 units permitted in Atascosa County in 2024 (0 in 5+ unit buildings).
• Atascosa County population projected at +41% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 4, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 6→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 271 days. Have you received any prior offers? Is the seller open to a 33% 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 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?
• 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.