344 E 6th St

Colorado City, TX 79512

$37,000B-

2 bd · 1.0 ba · 1,297 sqft · Built 1915 · SingleFamily · Pending · 466 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,120/mo
• Mortgage (P&I): −$194
• Tax + insurance: −$112
• HOA: −$0
• Vac / Maint / Mgmt: −$235
• Net cashflow: $578/mo
• Annual: $6,942/yr
• Cap rate: 25.05%
• Cash-on-cash: 67.00%
• DSCR: 3.98
• 1% rule: 3.03%
• Cash to close: $10,360

Investor read

• This is a 2-bed/1.0-bath single-family listed at $37k.
• At list price, monthly cash flow is $578 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $37k).
• It's been on market 466 days — a 12% lower offer ($33k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $33k (12.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($256 loan paydown + $2k appreciation (4.4% local appreciation)).
• Location reads 70/100 on livability (#355 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: health & safety C-, amenities F, commute F.
• Colorado ISD (town): math 37% / reading 34% proficiency, ranked #508 of 826 in TX (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Colorado El And Middle (math 35% / reading 34%, grade F, #1,995 of 4,322 statewide, top 50%, 708 students, 63% FRL); Colorado H S (math 44% / reading 44%, grade F, #652 of 1,632 statewide, top 43%, 227 students, 65% FRL).
• Watch-outs: property tax is 3.1% of price; built in 1915 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 86 active listings in the ZIP.
• Mitchell County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 2 sale attempts; this cycle's ask has dropped $8k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (4.4% appreciation + 3.0% rent growth), your $10k cash investment doubles in ~2 years — after that, you're playing with house money.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 466 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• 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.
• 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.