1316 N Mary St

Comanche, TX 76442

$750,000B-

464 bd · 7.0 ba · 3,442 sqft · Built 1967 · MultiFamily · Active · 178 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $20,486/mo
• Mortgage (P&I): −$3,933
• Tax + insurance: −$1,047
• HOA: −$0
• Vac / Maint / Mgmt: −$4,302
• Net cashflow: $11,204/mo
• Annual: $134,444/yr
• Cap rate: 24.22%
• Cash-on-cash: 64.02%
• DSCR: 3.85
• 1% rule: 2.73%
• Cash to close: $210,000

Investor read

• This is a 16 × 29-bed/16.0-bath units multifamily listed at $750k.
• At list price, monthly cash flow is $11k ($134k/yr) — positive. Per door: $700/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($20k rent vs $750k).
• It's been on market 178 days — a 12% lower offer ($660k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $660k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $5k of loan paydown is wiped out by about $22k of value loss. Plan a longer hold.
• Location reads 64/100 on livability (#763 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D+, health & safety D+, schools F.
• Comanche ISD (town): math 39% / reading 36% proficiency, ranked #484 of 826 in TX (top 59%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 168 active listings in the ZIP; 4 units permitted in Comanche County in 2024 (0 in 5+ unit buildings).
• Comanche County population projected at -29% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $210k cash investment doubles in ~2 years — after that, you're playing with house money.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; 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.
• Cap rate 24.2% vs local median 2.1% in Comanche — 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 178 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• 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?
• Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• 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 D 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?