6926 Turner Dr

Lake Brownwood, TX 76801

$75,999B+

2 bd · 1.0 ba · 1,112 sqft · Built 1950 · SingleFamily · Active · 422 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,157/mo
• Mortgage (P&I): −$399
• Tax + insurance: −$49
• HOA: −$0
• Vac / Maint / Mgmt: −$243
• Net cashflow: $466/mo
• Annual: $5,597/yr
• Cap rate: 13.66%
• Cash-on-cash: 26.30%
• DSCR: 2.17
• 1% rule: 1.52%
• Cash to close: $21,280

Investor read

• This is a 2-bed/1.0-bath single-family listed at $76k.
• At list price, monthly cash flow is $466 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $76k).
• It's been on market 422 days — a 12% lower offer ($67k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $67k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $525 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 67/100 on livability (#513 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: health & safety D+, amenities F, commute F.
• Bangs ISD (rural): math 49% / reading 53% proficiency, ranked #178 of 826 in TX (top 22%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: J B Stephens El (math 52% / reading 52%, grade C-, #742 of 4,322 statewide, top 19%, 418 students, 71% FRL); Bangs Middle (math 46% / reading 51%, grade C-, #392 of 1,662 statewide, top 24%, 197 students, 67% FRL); Bangs H S (math 57% / reading 57%, grade C, #333 of 1,632 statewide, top 22%, 247 students, 58% FRL) — zoned schools average 65% FRL vs 50% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 380 active listings in the ZIP; 142 units permitted in Brown County in 2024 (0 in 5+ unit buildings).
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~5 years — after that, you're playing with house money.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 6→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 13.7% vs local median 1.6% in Lake Brownwood — 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 422 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 F-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.