2311 Still Point Ln

Colleyville, TX 76034

$889,000D-

4 bd · 3.0 ba · 3,578 sqft · Built 1996 · SingleFamily · Pending · 18 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $6,781/mo
• Mortgage (P&I): −$4,662
• Tax + insurance: −$1,493
• HOA: −$0
• Vac / Maint / Mgmt: −$1,424
• Net cashflow: $-797/mo
• Annual: $-9,566/yr
• Cap rate: 5.22%
• Cash-on-cash: -3.84%
• DSCR: 0.83
• 1% rule: 0.76%
• Cash to close: $248,920

Investor read

• This is a 4-bed/3.0-bath single-family listed at $889k.
• At list price, monthly cash flow is $-797 ($-10k/yr) — negative.
• To cash-flow at today's rent, offer at most $748k (15.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $678k (23.7% below list).
• It's been on market 18 days — a 2% lower offer ($876k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $678k (23.7% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $6k of loan paydown is wiped out by about $27k of value loss. Plan a longer hold.
• Location reads 78/100 on livability (#68 in TX, #2,466 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities D+, commute F, cost of living F.
• Grapevine-Colleyville ISD (suburban): math 52% / reading 61% proficiency, ranked #59 of 826 in TX (top 7%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Glenhope El (math 73% / reading 84%, grade A, #48 of 4,322 statewide, top 1%, 503 students, 10% FRL).
• Zoned-school proficiency averages 78% at this address vs 56% district-wide (+22 pts) — the actual schools serving this property are materially stronger than the Grapevine-Colleyville ISD average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 187 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 1d on market — plan ~1-2 weeks tenant-placement turnaround); 18,938 units permitted in Tarrant County in 2024 (8,336 in 5+ unit buildings).
• Tarrant County population projected at +41% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 3 sale attempts since 8y ago 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.
• Climate carrying-cost: extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.2% vs local median 2.1% in Colleyville — 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

• 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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are A-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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.