155 S Harris St

El Paso, TX 79907

$78,000B-

2 bd · 1.0 ba · 875 sqft · Built 1942 · SingleFamily · Pending · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,087/mo
• Mortgage (P&I): −$409
• Tax + insurance: −$230
• HOA: −$0
• Vac / Maint / Mgmt: −$228
• Net cashflow: $220/mo
• Annual: $2,636/yr
• Cap rate: 9.67%
• Cash-on-cash: 12.07%
• DSCR: 1.54
• 1% rule: 1.39%
• Cash to close: $21,840

Investor read

• This is a 2-bed/1.0-bath single-family listed at $78k.
• At list price, monthly cash flow is $220 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $78k).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $539 of loan paydown is wiped out by about $2k 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+.
• Ysleta ISD (urban): math 27% / reading 35% proficiency, ranked #626 of 826 in TX (top 76%) — 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.
• Zoned schools: Ysleta El (math 25% / reading 30%, grade F, #2,768 of 4,322 statewide, top 65%, 355 students, 91% FRL); Ysleta Middle (math 14% / reading 16%, grade F, #1,569 of 1,662 statewide, top 95%, 779 students, 90% FRL); Ysleta H S (math 43% / reading 37%, grade F, #809 of 1,632 statewide, top 50%, 1,342 students, 90% FRL) — zoned schools average 90% FRL vs 68% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: property tax is 3.0% of price; built in 1942 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+11.8%/yr); 103 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 45% of comp listings sitting > 30 days — soft ceiling on asking rent; 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.
• 2 sale attempts 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 + 8.0% rent growth), your $22k cash investment doubles in ~7 years — after that, you're playing with house money.
• Climate carrying-cost: moderate flood risk; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• This rent runs 31% of the median local income ($42k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• Built in 1942 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• 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 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.