38 County Road 1180

Tira, TX 75432

$144,500C-

3 bd · 1.0 ba · 1,710 sqft · Built 1972 · SingleFamily · Pending · 52 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,151/mo
• Mortgage (P&I): −$758
• Tax + insurance: −$185
• HOA: −$0
• Vac / Maint / Mgmt: −$242
• Net cashflow: $-34/mo
• Annual: $-407/yr
• Cap rate: 6.01%
• Cash-on-cash: -1.01%
• DSCR: 0.96
• 1% rule: 0.80%
• Cash to close: $40,460

Investor read

• This is a 3-bed/1.0-bath single-family listed at $144k.
• At list price, monthly cash flow is $-34 ($-407/yr) — negative.
• To cash-flow at today's rent, offer at most $139k (4.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $115k (20.4% below list).
• It's been on market 52 days — a 3% lower offer ($140k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $115k (20.4% below list) — sets the bar for 1% rule.
• In year one you build about $11k of equity ($999 loan paydown + $10k appreciation (6.6% local appreciation)).
• Location reads 48/100 on livability (#1,524 in TX) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: employment C-, crime F, amenities F.
• Cooper ISD (rural): math 31% / reading 42% proficiency, ranked #497 of 826 in TX (top 60%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Cooper El (math 22% / reading 37%, grade F, #2,525 of 4,322 statewide, top 62%, 467 students, 74% FRL); Cooper J H (math 32% / reading 42%, grade F, #756 of 1,662 statewide, top 47%, 179 students, 58% FRL); Cooper H S (math 54% / reading 54%, grade C-, #379 of 1,632 statewide, top 26%, 242 students, 56% FRL) — zoned schools at 63% FRL track the district average.
• Market conditions: 93 active listings in the ZIP; 7 units permitted in Delta County in 2024 (0 in 5+ unit buildings).
• Delta County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (6.6% appreciation + 3.0% rent growth), your $40k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

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?
• It's been on market 52 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
• Built in 1972 — 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?
• Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.