528 Ave F

Markham, TX 77456

$153,000B-

4 bd · 2.0 ba · 2,244 sqft · Built 1950 · SingleFamily · Pending

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,505/mo
• Mortgage (P&I): −$802
• Tax + insurance: −$255
• HOA: −$0
• Vac / Maint / Mgmt: −$316
• Net cashflow: $132/mo
• Annual: $1,579/yr
• Cap rate: 7.32%
• Cash-on-cash: 3.69%
• DSCR: 1.16
• 1% rule: 0.98%
• Cash to close: $42,840

Investor read

• This is a 4-bed/2.0-bath single-family listed at $153k.
• At list price, monthly cash flow is $132 ($2k/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 $150k (1.6% below list).
• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $150k (1.6% below list) — sets the bar for 1% rule.
• In year one you build about $12k of equity ($1k loan paydown + $11k appreciation (7.3% local appreciation)).
• Location reads 74/100 on livability (#180 in TX, #4,694 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, amenities F, commute F.
• Tidehaven ISD (rural): math 54% / reading 54% proficiency, ranked #127 of 826 in TX (top 15%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Markham El (math 77% / reading 67%, grade A-, #110 of 4,322 statewide, top 3%, 254 students, 61% FRL); Tidehaven Int (math 44% / reading 50%, grade D+, #424 of 1,662 statewide, top 27%, 233 students, 67% FRL); Tidehaven H S (math 72% / reading 57%, grade B-, #199 of 1,632 statewide, top 14%, 274 students, 58% FRL) — zoned schools at 62% FRL track the district average.
• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 11 active listings in the ZIP; 153 units permitted in Matagorda County in 2024 (0 in 5+ unit buildings).
• At projected returns (7.3% appreciation + 3.0% rent growth), your $43k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• 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.