330 FM 3147

Itasca, TX 76055

$368,700D-

3 bd · 3.0 ba · 1,320 sqft · Built 2023 · Other · Active · 57 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,735/mo
• Mortgage (P&I): −$1,934
• Tax + insurance: −$409
• HOA: −$0
• Vac / Maint / Mgmt: −$364
• Net cashflow: $-971/mo
• Annual: $-11,656/yr
• Cap rate: 3.13%
• Cash-on-cash: -11.29%
• DSCR: 0.50
• 1% rule: 0.47%
• Cash to close: $103,236

Investor read

• This is a 3-bed/3.0-bath other listed at $369k.
• At list price, monthly cash flow is $-971 ($-12k/yr) — negative.
• To cash-flow at today's rent, offer at most $197k (46.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $174k (52.9% below list).
• It's been on market 57 days — a 3% lower offer ($358k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $174k (52.9% below list) — sets the bar for 1% rule.
• In year one you build about $39k of equity ($3k loan paydown + $37k appreciation (10.0% local appreciation)).
• Location reads 63/100 on livability (#832 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: employment D, amenities F, commute F.
• Itasca ISD (rural): math 23% / reading 35% proficiency, ranked #636 of 826 in TX (top 77%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Itasca El (math 17% / reading 32%, grade F, #3,052 of 4,322 statewide, top 74%, 295 students, 74% FRL).
• Market conditions: 84 active listings in the ZIP; 65 units permitted in Hill County in 2024 (0 in 5+ unit buildings).
• Hill County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 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.
• By year 2, paydown + projected appreciation supports a ~$63k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 3.1% vs local median 5.7% in Itasca — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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 57 days. Have you received any prior offers? Is the seller open to a 53% concession, seller financing, or rate buy-down credit?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-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.
• 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.