Ramsey Plan

Bryan, TX 77807

$267,990D-

4 bd · 2.0 ba · 1,676 sqft · Built — · SingleFamily · Active · 822 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,309/mo
• Mortgage (P&I): −$1,458
• Tax + insurance: −$463
• HOA: −$0
• Vac / Maint / Mgmt: −$485
• Net cashflow: $-97/mo
• Annual: $-1,162/yr
• Cap rate: 5.87%
• Cash-on-cash: -1.49%
• DSCR: 0.93
• 1% rule: 0.83%
• Cash to close: $77,837

Investor read

• This is a 4-bed/2.0-bath single-family listed at $268k. Condition is rated poor.
• At list price, monthly cash flow is $-97 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $264k (1.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $231k (13.8% below list).
• It's been on market 822 days — a 12% lower offer ($236k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $231k (13.8% below list) — sets the bar for 1% rule.
• 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 76/100 on livability (#99 in TX, #3,341 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, crime C-, amenities C-.
• Bryan ISD (urban): math 30% / reading 32% proficiency, ranked #608 of 826 in TX (top 74%) — 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.
• Market conditions: 304 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 2,211 units permitted in Brazos County in 2024 (768 in 5+ unit buildings).
• Brazos County population projected at +55% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.9% vs local median 4.0% in Bryan — 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.
• This rent runs 37% of the median local income ($74k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 822 days. Have you received any prior offers? Is the seller open to a 14% 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.
• 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 concrete — Exposed concrete suggests significant structural issues.
• Major: Roof repair — Visible damage to the roof indicates urgent need for repair.
• Major: Landscaping — Minimal landscaping and no visible curb appeal suggest a need for significant improvement.
• Major: Interior walls and paint — No interior walls or paint are visible, indicating a need for renovation or repair.
• Major: HVAC and mechanical systems — No systems are visible, indicating a need for inspection and potential repair or replacement.
• Major: Foundation and structure — No foundation or structure is visible, indicating a need for inspection and potential repair or reinforcement.