939 Whisperwood Dr

Onalaska, TX 77360

$169,900F

3 bd · 2.0 ba · 1,248 sqft · Built 2021 · Land · Active · 105 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,144/mo
• Mortgage (P&I): −$891
• Tax + insurance: −$283
• HOA: −$10
• Vac / Maint / Mgmt: −$240
• Net cashflow: $-280/mo
• Annual: $-3,364/yr
• Cap rate: 4.31%
• Cash-on-cash: -7.07%
• DSCR: 0.69
• 1% rule: 0.67%
• Cash to close: $47,572

Investor read

• This is a 3-bed/2.0-bath land listed at $170k.
• At list price, monthly cash flow is $-280 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $129k (23.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $114k (32.7% below list).
• It's been on market 105 days — a 9% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $114k (32.7% below list) — sets the bar for 1% rule.
• In year one you build about $141 of equity ($1k loan paydown + $-1k appreciation (-0.6% local appreciation)).
• Location reads 60/100 on livability (#1,055 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, crime D+, amenities F.
• Onalaska ISD (rural): math 50% / reading 48% proficiency, ranked #213 of 826 in TX (top 26%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Onalaska El (math 52% / reading 42%, grade D-, #1,006 of 4,322 statewide, top 25%, 712 students, 70% FRL); Onalaska Jr/Sr High (math 48% / reading 55%, grade D+, #478 of 1,632 statewide, top 29%, 527 students, 58% FRL).
• Market conditions: 354 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 769 units permitted in Polk County in 2024 (0 in 5+ unit buildings).
• Polk County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts; this cycle's ask has dropped $12k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Cap rate 4.3% vs local median 2.9% in Onalaska — 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.

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 105 days. Have you received any prior offers? Is the seller open to a 33% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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?