8300 E County Rd 114

Midland, TX 79706

$349,500D-

4 bd · 2.0 ba · 2,158 sqft · Built 2022 · SingleFamily · Active · 26 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,845/mo
• Mortgage (P&I): −$1,833
• Tax + insurance: −$526
• HOA: −$38
• Vac / Maint / Mgmt: −$597
• Net cashflow: $-149/mo
• Annual: $-1,788/yr
• Cap rate: 5.78%
• Cash-on-cash: -1.83%
• DSCR: 0.92
• 1% rule: 0.81%
• Cash to close: $97,860

Investor read

• This is a 4-bed/2.0-bath single-family listed at $350k. Condition is rated good.
• At list price, monthly cash flow is $-149 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $323k (7.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $284k (18.6% below list).
• It's been on market 26 days — a 2% lower offer ($344k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $284k (18.6% 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 $10k of value loss. Plan a longer hold.
• Location reads 79/100 on livability (#57 in TX, #2,192 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, health & safety A+; Watch: crime C-, commute D+, amenities D.
• Greenwood ISD (rural): math 45% / reading 44% proficiency, ranked #220 of 826 in TX (top 27%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Greenwood El (795 students, 45% FRL); James R Brooks Middle (math 49% / reading 44%, grade D+, #443 of 1,662 statewide, top 28%, 756 students, 37% FRL); Greenwood H S (math 51% / reading 53%, grade D+, #447 of 1,632 statewide, top 29%, 808 students, 33% FRL).
• Market conditions: Rents rising (+2.8%/yr); 383 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 45% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,504 units permitted in Midland County in 2024 (0 in 5+ unit buildings).
• Midland County population projected at +83% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Cap rate 5.8% vs local median 4.7% in Midland — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.
• This rent runs 32% of the median local income ($108k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.