107 Harland Dr

Whitney, TX 76692

$129,900C

2 bd · 1.0 ba · 1,304 sqft · Built 2022 · SingleFamily · Active · 91 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,314/mo
• Mortgage (P&I): −$681
• Tax + insurance: −$214
• HOA: −$0
• Vac / Maint / Mgmt: −$276
• Net cashflow: $143/mo
• Annual: $1,715/yr
• Cap rate: 7.61%
• Cash-on-cash: 4.72%
• DSCR: 1.21
• 1% rule: 1.01%
• Cash to close: $36,372

Investor read

• This is a 2-bed/1.0-bath single-family listed at $130k. Condition is rated fair.
• At list price, monthly cash flow is $143 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $130k).
• It's been on market 91 days — a 9% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $118k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $898 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 71/100 on livability (#282 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A-; Watch: amenities F, commute F, employment D-.
• Whitney ISD (rural): math 42% / reading 41% proficiency, ranked #378 of 826 in TX (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Whitney El (393 students, 74% FRL); Whitney Middle (math 40% / reading 33%, grade F, #786 of 1,662 statewide, top 48%, 344 students, 62% FRL); Whitney H S (math 37% / reading 47%, grade F, #730 of 1,632 statewide, top 47%, 441 students, 60% FRL).
• Market conditions: 644 active listings in the ZIP; 65 units permitted in Hill County in 2024 (0 in 5+ unit buildings).
• Hill County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 7.6% vs local median 3.1% in Whitney — 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 91 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• 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 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?
• 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.

Repairs flagged (vision-AI assessment)

• Major: kitchen countertops — severely worn and need replacement
• Major: bathroom tiles — worn and need replacement
• Major: roof shingles — visible wear and need replacement
• Major: exterior shed — disrepair and structural issues
• Major: HVAC unit — visible and likely outdated