2204 Doc Holliday Rd

Burleson, TX 76058

$226,999C+

3 bd · 2.0 ba · 1,302 sqft · Built 2025 · SingleFamily · Pending · 22 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,650/mo
• Mortgage (P&I): −$1,190
• Tax + insurance: −$378
• HOA: −$50
• Vac / Maint / Mgmt: −$556
• Net cashflow: $475/mo
• Annual: $5,697/yr
• Cap rate: 8.80%
• Cash-on-cash: 8.96%
• DSCR: 1.40
• 1% rule: 1.17%
• Cash to close: $63,560

Investor read

• This is a 3-bed/2.0-bath single-family listed at $227k. Condition is rated good.
• At list price, monthly cash flow is $475 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $227k).
• It's been on market 22 days — a 2% lower offer ($224k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $224k (1.5% below list) — sets the bar for market timing.
• 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 79/100 on livability (#53 in TX, #2,133 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Joshua ISD (rural): math 52% / reading 50% proficiency, ranked #139 of 826 in TX (top 17%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 420 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 2,152 units permitted in Johnson County in 2024 (76 in 5+ unit buildings).
• Johnson County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Cap rate 8.8% vs local median 3.5% in Burleson — 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.

Questions for listing agent

• 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.
• 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.