137 Colorado

Abilene, TX 79606

$428,500D

4 bd · 3.0 ba · 2,090 sqft · Built 2026 · Land · Pending · 11 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,186/mo
• Mortgage (P&I): −$2,247
• Tax + insurance: −$254
• HOA: −$0
• Vac / Maint / Mgmt: −$669
• Net cashflow: $16/mo
• Annual: $189/yr
• Cap rate: 6.34%
• Cash-on-cash: 0.16%
• DSCR: 1.01
• 1% rule: 0.74%
• Cash to close: $119,980

Investor read

• This is a 4-bed/3.0-bath land listed at $428k.
• At list price, monthly cash flow is $16 ($189/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 $319k (25.7% below list).
• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $319k (25.7% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.
• Location reads 75/100 on livability (#142 in TX, #4,037 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D, commute F.
• Wylie ISD (rural): math 63% / reading 62% proficiency, ranked #32 of 826 in TX (top 4%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 17% free/reduced lunch — higher-income household profile.
• Zoned schools: Wylie West El (428 students, 21% FRL); Wylie West J H (math 62% / reading 58%, grade B, #158 of 1,662 statewide, top 10%, 972 students, 24% FRL); Wylie H S (math 60% / reading 76%, grade B, #150 of 1,632 statewide, top 10%, 1,467 students, 18% FRL) — zoned schools at 21% FRL track the district average.
• Market conditions: Rents rising fast (+40.7%/yr); 294 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 508 units permitted in Taylor County in 2024 (0 in 5+ unit buildings).
• Taylor County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At $3,186/mo this rent would consume 48% of the median local household income ($79k/yr) (locally 1181% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• 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?
• 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.