11537 Violet Rd

Ore City, TX 75683

$75,000B+

3 bd · 2.0 ba · 1,624 sqft · Built 1984 · SingleFamily · Pending · 23 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,334/mo
• Mortgage (P&I): −$393
• Tax + insurance: −$254
• HOA: −$0
• Vac / Maint / Mgmt: −$280
• Net cashflow: $407/mo
• Annual: $4,879/yr
• Cap rate: 12.80%
• Cash-on-cash: 23.23%
• DSCR: 2.03
• 1% rule: 1.78%
• Cash to close: $21,000

Investor read

• This is a 3-bed/2.0-bath single-family listed at $75k.
• At list price, monthly cash flow is $407 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• It's been on market 23 days — a 2% lower offer ($74k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $74k (1.5% below list) — sets the bar for market timing.
• In year one you build about $5k of equity ($519 loan paydown + $4k appreciation (5.4% local appreciation)).
• Location reads 67/100 on livability (#568 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools C-, amenities F, commute F.
• Pittsburg ISD (town): math 54% / reading 44% proficiency, ranked #216 of 826 in TX (top 26%) — 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.
• Watch-outs: property tax is 3.6% of price.
• Market conditions: 47 active listings in the ZIP; 34 units permitted in Upshur County in 2024 (0 in 5+ unit buildings).
• Upshur County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 6 sale attempts since 10y 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.
• At projected returns (5.4% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.