823 Barandal Dr

El Paso, TX 79907

$168,500B-

6 bd · 1.5 ba · 1,158 sqft · Built 1985 · MultiFamily · Active · 11 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,292/mo
• Mortgage (P&I): −$884
• Tax + insurance: −$325
• HOA: −$0
• Vac / Maint / Mgmt: −$481
• Net cashflow: $602/mo
• Annual: $7,229/yr
• Cap rate: 10.58%
• Cash-on-cash: 15.32%
• DSCR: 1.68
• 1% rule: 1.36%
• Cash to close: $47,180

Investor read

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $168k.
• At list price, monthly cash flow is $602 ($7k/yr) — positive. Per door: $301/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $168k).
• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 81/100 on livability (#23 in TX, #1,375 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: employment D+.
• Ysleta ISD (urban): math 27% / reading 35% proficiency, ranked #626 of 826 in TX (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Loma Terrace El (math 15% / reading 11%, grade F, #4,152 of 4,322 statewide, top 96%, 697 students, 92% FRL); Bel Air Middle (math 21% / reading 39%, grade F, #1,056 of 1,662 statewide, top 65%, 1,156 students, 87% FRL); Bel Air H S (math 32% / reading 42%, grade F, #897 of 1,632 statewide, top 57%, 1,839 students, 80% FRL) — zoned schools average 86% FRL vs 68% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+11.8%/yr); 103 active listings in the ZIP; lower-income renter base — watch delinquency; 2,196 units permitted in El Paso County in 2024 (143 in 5+ unit buildings).
• El Paso County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• Current owner paid $37k; list at $168k implies a 356% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $47k cash investment doubles in ~6 years — after that, you're playing with house money.
• Climate carrying-cost: extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• At $2,292/mo this rent would consume 66% of the median local household income ($42k/yr) (locally 1390% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.