3526 Water Ridge Ct

Abilene, TX 79602

$248,990C-

3 bd · 2.0 ba · 1,209 sqft · Built 2026 · SingleFamily · Pending · 18 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,322/mo
• Mortgage (P&I): −$1,306
• Tax + insurance: −$415
• HOA: −$0
• Vac / Maint / Mgmt: −$488
• Net cashflow: $113/mo
• Annual: $1,360/yr
• Cap rate: 6.84%
• Cash-on-cash: 1.95%
• DSCR: 1.09
• 1% rule: 0.93%
• Cash to close: $69,717

Investor read

• This is a 3-bed/2.0-bath single-family listed at $249k. Condition is rated excellent.
• At list price, monthly cash flow is $113 ($1k/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 $232k (6.8% below list).
• It's been on market 18 days — a 2% lower offer ($245k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $232k (6.8% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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: schools D+, crime D, commute F.
• Eula ISD (rural): math 44% / reading 50% proficiency, ranked #239 of 826 in TX (top 29%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+33.5%/yr); 370 active listings in the ZIP; solid renter incomes; 11 units permitted in Callahan County in 2024 (0 in 5+ unit buildings).
• Callahan County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• This rent runs 31% of the median local income ($90k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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?
• 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.