Modern Prairie Plan

Odessa, TX 79765

$259,950D

4 bd · 2.0 ba · 1,600 sqft · Built — · SingleFamily · Active · 832 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,547/mo
• Mortgage (P&I): −$1,463
• Tax + insurance: −$465
• HOA: −$0
• Vac / Maint / Mgmt: −$535
• Net cashflow: $84/mo
• Annual: $1,011/yr
• Cap rate: 6.66%
• Cash-on-cash: 1.29%
• DSCR: 1.06
• 1% rule: 0.91%
• Cash to close: $78,098

Investor read

• This is a 4-bed/2.0-bath single-family listed at $260k. Condition is rated poor.
• At list price, monthly cash flow is $84 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $255k (2.0% below list).
• It's been on market 832 days — a 12% lower offer ($229k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $229k (12.0% 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 75/100 on livability (#132 in TX, #3,928 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: commute D+, amenities D.
• Ector County ISD (urban): math 22% / reading 27% proficiency, ranked #707 of 826 in TX (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Barbara Jordan El (math 33% / reading 42%, grade F, #1,744 of 4,322 statewide, top 41%, 854 students, 51% FRL); Wilson & Young Medal of Honor Middle (math 14% / reading 31%, grade F, #1,341 of 1,662 statewide, top 82%, 1,245 students, 56% FRL); Permian H S (math 19% / reading 29%, grade F, #1,333 of 1,632 statewide, top 82%, 3,978 students, 51% FRL) — zoned schools at 53% FRL track the district average.
• Market conditions: Rents flat; 433 active listings in the ZIP; 35 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 51% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,004 units permitted in Ector County in 2024 (0 in 5+ unit buildings).
• Ector County population projected at +78% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Questions for listing agent

• It's been on market 832 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.

Repairs flagged (vision-AI assessment)

• Major: exterior siding — Significant wear and tear on the brick exterior with cedar accents.
• Major: roof — No clear view of the roof condition.
• Major: landscaping — Dry, overgrown lawn with no visible landscaping features.
• Major: interior walls and paint — No interior walls or paint are visible in the photos.
• Major: HVAC and mechanical systems — No systems are visible in the photos.