107 Grant St

Hooks, TX 75561

$53,000B+

2 bd · 1.0 ba · 672 sqft · Built — · SingleFamily · Active · 311 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $821/mo
• Mortgage (P&I): −$278
• Tax + insurance: −$240
• HOA: −$0
• Vac / Maint / Mgmt: −$172
• Net cashflow: $130/mo
• Annual: $1,559/yr
• Cap rate: 12.07%
• Cash-on-cash: 20.63%
• DSCR: 1.92
• 1% rule: 1.55%
• Cash to close: $14,840

Investor read

• This is a 2-bed/1.0-bath single-family listed at $53k.
• At list price, monthly cash flow is $130 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($821 rent vs $53k).
• It's been on market 311 days — a 12% lower offer ($47k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $47k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $366 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 64/100 on livability (#819 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-, crime B+; Watch: schools C-, amenities F, commute F.
• Hooks ISD (town): math 46% / reading 50% proficiency, ranked #226 of 826 in TX (top 27%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: flood insurance adds $125/mo.
• Market conditions: 65 active listings in the ZIP; 137 units permitted in Bowie County in 2024 (5 in 5+ unit buildings).
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance); extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 311 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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.