3509 Rock Springs Ct

Potosi, TX 79602

$233,990D+

2 bd · 2.5 ba · 1,212 sqft · Built 2026 · SingleFamily · Active · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,030/mo
• Mortgage (P&I): −$1,227
• Tax + insurance: −$515
• HOA: −$0
• Vac / Maint / Mgmt: −$426
• Net cashflow: $-139/mo
• Annual: $-1,662/yr
• Cap rate: 6.22%
• Cash-on-cash: -0.24%
• DSCR: 0.99
• 1% rule: 0.87%
• Cash to close: $65,517

Investor read

• This is a 2-bed/2.5-bath single-family listed at $234k. Condition is rated excellent.
• At list price, monthly cash flow is $-139 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $214k (8.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $203k (13.2% below list).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $203k (13.2% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 69/100 on livability (#398 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: health & safety D+, amenities F, commute F.
• Wylie ISD (rural): math 63% / reading 62% proficiency, ranked #32 of 826 in TX (top 4%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 17% free/reduced lunch — higher-income household profile.
• Zoned schools: Wylie West Int (math 64% / reading 64%, grade B, #283 of 4,322 statewide, top 7%, 459 students, 24% FRL); Wylie West J H (math 62% / reading 58%, grade B, #158 of 1,662 statewide, top 10%, 972 students, 24% FRL); Wylie H S (math 60% / reading 76%, grade B, #150 of 1,632 statewide, top 10%, 1,467 students, 18% FRL) — zoned schools at 22% FRL track the district average.
• Watch-outs: flood insurance adds $125/mo.
• Market conditions: Rents rising fast (+33.5%/yr); 374 active listings in the ZIP; solid renter incomes; 508 units permitted in Taylor County in 2024 (0 in 5+ unit buildings).
• Taylor County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance); extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.2% vs local median 4.9% in Potosi — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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.
• 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.