1415 Longhorn

Floresville, TX 78114

$179,000C-

4 bd · 2.0 ba · 1,366 sqft · Built 1981 · SingleFamily · Active · 207 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,799/mo
• Mortgage (P&I): −$939
• Tax + insurance: −$413
• HOA: −$0
• Vac / Maint / Mgmt: −$378
• Net cashflow: $70/mo
• Annual: $840/yr
• Cap rate: 6.76%
• Cash-on-cash: 1.68%
• DSCR: 1.07
• 1% rule: 1.01%
• Cash to close: $50,120

Investor read

• This is a 4-bed/2.0-bath single-family listed at $179k.
• At list price, monthly cash flow is $70 ($840/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $179k).
• It's been on market 207 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $158k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 65/100 on livability (#681 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: employment D+, health & safety D+, amenities F.
• Floresville ISD (town): math 32% / reading 36% proficiency, ranked #504 of 826 in TX (top 61%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Floresville Middle (math 28% / reading 33%, grade F, #1,036 of 1,662 statewide, top 63%, 904 students, 58% FRL).
• Market conditions: 296 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 135 units permitted in Wilson County in 2024 (0 in 5+ unit buildings).
• Wilson County population projected at +46% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts since 5y ago; this cycle's ask has dropped $26k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.8% vs local median 1.9% in Floresville — 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 207 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• 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.
• 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.