6711 Chert Chase

Elmendorf, TX 78112

$139,999C-

4 bd · 2.0 ba · 1,375 sqft · Built 2026 · SingleFamily · Active · 278 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,418/mo
• Mortgage (P&I): −$734
• Tax + insurance: −$233
• HOA: −$106
• Vac / Maint / Mgmt: −$298
• Net cashflow: $47/mo
• Annual: $559/yr
• Cap rate: 6.69%
• Cash-on-cash: 1.42%
• DSCR: 1.06
• 1% rule: 1.01%
• Cash to close: $39,200

Investor read

• This is a 4-bed/2.0-bath single-family listed at $140k. Condition is rated excellent.
• At list price, monthly cash flow is $47 ($559/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $140k).
• It's been on market 278 days — a 12% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $123k (12.0% below list) — sets the bar for market timing.
• In year one you build about $737 of equity ($968 loan paydown + $-231 appreciation (-0.2% local appreciation)).
• Location reads 58/100 on livability (#1,189 in TX) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, employment F.
• Floresville ISD (town): math 32% / reading 36% proficiency, ranked #504 of 826 in TX (top 61%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Floresville Middle (math 28% / reading 33%, grade F, #1,036 of 1,662 statewide, top 63%, 904 students, 58% FRL).
• Market conditions: 498 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 61d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 86% of comp listings sitting > 30 days — soft ceiling on asking rent; 135 units permitted in Wilson County in 2024 (0 in 5+ unit buildings).
• Wilson County population projected at +46% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Cap rate 6.7% vs local median 4.4% in Elmendorf — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.
• This rent runs 31% of the median local income ($54k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 278 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• 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.