1131 Mission Creek Dr

Longview, TX 75601

$255,000C-

4 bd · 2.0 ba · 1,498 sqft · Built 2022 · SingleFamily · Active · 55 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,181/mo
• Mortgage (P&I): −$1,337
• Tax + insurance: −$183
• HOA: −$0
• Vac / Maint / Mgmt: −$458
• Net cashflow: $203/mo
• Annual: $2,435/yr
• Cap rate: 7.25%
• Cash-on-cash: 3.41%
• DSCR: 1.15
• 1% rule: 0.86%
• Cash to close: $71,400

Investor read

• This is a 4-bed/2.0-bath single-family listed at $255k. Condition is rated good.
• At list price, monthly cash flow is $203 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $218k (14.5% below list).
• It's been on market 55 days — a 3% lower offer ($247k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $218k (14.5% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 73/100 on livability (#213 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, crime D+, schools D.
• Hallsville ISD (town): math 30% / reading 40% proficiency, ranked #490 of 826 in TX (top 59%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.3%/yr); 153 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 85 units permitted in Harrison County in 2024 (15 in 5+ unit buildings).
• Climate carrying-cost: major wind risk, 56% chance of damaging wind over 30y; extreme-heat days projected 6→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 7.2% vs local median 3.0% in Longview — 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.
• This rent runs 40% of the median local income ($66k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 55 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-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?
• 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.