3803 Tyler Ave

El Paso, TX 79930

$268,000C+

4 bd · 4.0 ba · 2,125 sqft · Built 1957 · MultiFamily · Active · 28 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,157/mo
• Mortgage (P&I): −$1,405
• Tax + insurance: −$493
• HOA: −$0
• Vac / Maint / Mgmt: −$663
• Net cashflow: $595/mo
• Annual: $7,145/yr
• Cap rate: 8.96%
• Cash-on-cash: 9.52%
• DSCR: 1.42
• 1% rule: 1.18%
• Cash to close: $75,040

Investor read

• This is a 4 × 1-bed/1-bath units multifamily listed at $268k.
• At list price, monthly cash flow is $595 ($7k/yr) — positive. Per door: $149/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $268k).
• It's been on market 28 days — a 2% lower offer ($264k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $264k (1.5% below list) — sets the bar for market timing.
• 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 81/100 on livability (#23 in TX, #1,375 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: employment D+.
• El Paso ISD (urban): math 27% / reading 37% proficiency, ranked #591 of 826 in TX (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Travis El (math 12% / reading 27%, grade F, #3,583 of 4,322 statewide, top 86%, 228 students, 96% FRL); Cpt Gabriel Navarrete Middle (907 students, 92% FRL) — zoned schools average 94% FRL vs 65% district-wide (29 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 20% at this address vs 32% district-wide (-12 pts) — the specific schools serving this property underperform the El Paso ISD average; the district grade overstates school quality for this exact location.
• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+5.8%/yr); 75 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 2,196 units permitted in El Paso County in 2024 (143 in 5+ unit buildings).
• El Paso County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 7 sale attempts since 26y 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 (-3.0% appreciation + 5.8% rent growth), your $75k cash investment doubles in ~9 years — after that, you're playing with house money.
• Climate carrying-cost: extreme-heat days projected 8→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• At $3,157/mo this rent would consume 90% of the median local household income ($42k/yr) (locally 1384% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• 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 1957 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-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?
• 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.