1032 Springview Ln

Mabank, TX 75147

$225,000D+

3 bd · 2.0 ba · 1,449 sqft · Built 2023 · SingleFamily · Active · 87 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,649/mo
• Mortgage (P&I): −$1,180
• Tax + insurance: −$392
• HOA: −$0
• Vac / Maint / Mgmt: −$346
• Net cashflow: $-269/mo
• Annual: $-3,226/yr
• Cap rate: 4.86%
• Cash-on-cash: -5.12%
• DSCR: 0.77
• 1% rule: 0.73%
• Cash to close: $63,000

Investor read

• This is a 3-bed/2.0-bath single-family listed at $225k.
• At list price, monthly cash flow is $-269 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $178k (21.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $165k (26.7% below list).
• It's been on market 87 days — a 6% lower offer ($212k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $165k (26.7% below list) — sets the bar for 1% rule.
• In year one you build about $24k of equity ($2k loan paydown + $22k appreciation (10.0% local appreciation)).
• Location reads 69/100 on livability (#446 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: amenities F, commute F, employment D-.
• Mabank ISD (town): math 47% / reading 44% proficiency, ranked #273 of 826 in TX (top 33%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+8.1%/yr); 214 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 54 units permitted in Van Zandt County in 2024 (0 in 5+ unit buildings).
• Van Zandt County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 3 sale attempts; this cycle's ask has dropped $25k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• By year 2, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 4.9% vs local median 3.1% in Mabank — 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 35% of the median local income ($57k/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 87 days. Have you received any prior offers? Is the seller open to a 27% 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.
• 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.
• 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.