10909 Bob Stone Dr Unit A-D

El Paso, TX 79936

$450,000C+

10 bd · 6.5 ba · 4,330 sqft · Built 1976 · MultiFamily · Pending · 6 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $5,608/mo
• Mortgage (P&I): −$2,360
• Tax + insurance: −$750
• HOA: −$0
• Vac / Maint / Mgmt: −$1,178
• Net cashflow: $1,320/mo
• Annual: $15,846/yr
• Cap rate: 9.81%
• Cash-on-cash: 12.58%
• DSCR: 1.56
• 1% rule: 1.25%
• Cash to close: $126,000

Investor read

• This is a 1×3.0bd/1.5ba + 1×3.0bd/2.5ba + 1×2.0bd/1.5ba units multifamily listed at $450k. Condition is rated fair.
• At list price, monthly cash flow is $1k ($16k/yr) — positive. Per door: $330/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $450k).
• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $14k of value loss. Plan a longer hold.
• Location reads 81/100 on livability (#23 in TX, #1,375 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: employment D+.
• Ysleta ISD (urban): math 27% / reading 35% proficiency, ranked #626 of 826 in TX (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Tierra Del Sol El (math 29% / reading 33%, grade F, #2,429 of 4,322 statewide, top 57%, 562 students, 74% FRL); J M Hanks H S (math 28% / reading 48%, grade F, #880 of 1,632 statewide, top 54%, 1,454 students, 64% FRL) — zoned schools at 69% FRL track the district average.
• Market conditions: Rents rising (+2.0%/yr); 237 active listings in the ZIP; 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.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• 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.
• At $5,608/mo this rent would consume 100% of the median local household income ($67k/yr) (locally 2856% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1976 — 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 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)

• Moderate: kitchen cabinets — dated and worn
• Moderate: bathroom fixtures — dated and worn
• Moderate: roof shingles — visible wear