1246 Drymalla Rd

Eagle Lake, TX 78933

$229,900B-

4 bd · 3.0 ba · 2,570 sqft · Built 1946 · SingleFamily · Active · 38 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,808/mo
• Mortgage (P&I): −$1,206
• Tax + insurance: −$406
• HOA: −$0
• Vac / Maint / Mgmt: −$590
• Net cashflow: $606/mo
• Annual: $7,274/yr
• Cap rate: 9.46%
• Cash-on-cash: 11.30%
• DSCR: 1.50
• 1% rule: 1.22%
• Cash to close: $64,372

Investor read

• This is a 4-bed/3.0-bath single-family listed at $230k.
• At list price, monthly cash flow is $606 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $230k).
• It's been on market 38 days — a 3% lower offer ($223k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $223k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-1.5%/yr); year-one equity from $2k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 62/100 on livability (#913 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A-, housing B+; Watch: amenities F, commute F, employment D-.
• Columbus ISD (town): math 34% / reading 34% proficiency, ranked #531 of 826 in TX (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Columbus El (math 35% / reading 32%, grade F, #2,174 of 4,322 statewide, top 51%, 760 students, 68% FRL); Columbus J H (math 34% / reading 34%, grade F, #892 of 1,662 statewide, top 55%, 333 students, 62% FRL); Columbus Alternative School (12 students, 50% FRL) — zoned schools at 60% FRL track the district average.
• Watch-outs: built in 1946 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 45 active listings in the ZIP; 29 units permitted in Colorado County in 2024 (0 in 5+ unit buildings).
• 7 sale attempts since 16y ago; this cycle's ask has dropped $49k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-1.5% appreciation + 3.0% rent growth), your $64k cash investment doubles in ~8 years — after that, you're playing with house money.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 9.5% vs local median 3.7% in Eagle Lake — 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

• It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1946 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.