1128 W Court Plz

Anson, TX 79501

$375,000D

3 bd · 3.0 ba · 2,400 sqft · Built 1910 · SingleFamily · Pending · 195 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,897/mo
• Mortgage (P&I): −$1,967
• Tax + insurance: −$412
• HOA: −$0
• Vac / Maint / Mgmt: −$608
• Net cashflow: $-90/mo
• Annual: $-1,081/yr
• Cap rate: 6.00%
• Cash-on-cash: -1.03%
• DSCR: 0.95
• 1% rule: 0.77%
• Cash to close: $105,000

Investor read

• This is a 3-bed/3.0-bath single-family listed at $375k.
• At list price, monthly cash flow is $-90 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $359k (4.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $290k (22.7% below list).
• It's been on market 195 days — a 12% lower offer ($330k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $290k (22.7% below list) — sets the bar for 1% rule.
• In year one you build about $18k of equity ($3k loan paydown + $15k appreciation (4.1% local appreciation)).
• Location reads 70/100 on livability (#377 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A-; Watch: health & safety C-, employment D, amenities F.
• Anson ISD (rural): math 29% / reading 37% proficiency, ranked #565 of 826 in TX (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Anson El (math 17% / reading 32%, grade F, #3,052 of 4,322 statewide, top 74%, 368 students, 68% FRL); Anson Middle (math 37% / reading 37%, grade F, #756 of 1,662 statewide, top 47%, 167 students, 65% FRL); Anson H S (math 47% / reading 44%, grade D-, #630 of 1,632 statewide, top 39%, 217 students, 51% FRL).
• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 73 active listings in the ZIP; 1 units permitted in Jones County in 2024 (0 in 5+ unit buildings).
• Jones County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 4 sale attempts since 2y ago 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.
• By year 3, paydown + projected appreciation supports a ~$45k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 6→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.0% vs local median 12.2% in Anson — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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 195 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
• Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 D-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.