6126 Inca Dr

Mabank, TX 75156

$189,999D

3 bd · 2.0 ba · 1,200 sqft · Built 2025 · SingleFamily · Active · 165 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,585/mo
• Mortgage (P&I): −$996
• Tax + insurance: −$317
• HOA: −$11
• Vac / Maint / Mgmt: −$333
• Net cashflow: $-72/mo
• Annual: $-862/yr
• Cap rate: 5.84%
• Cash-on-cash: -1.62%
• DSCR: 0.93
• 1% rule: 0.83%
• Cash to close: $53,200

Investor read

• This is a 3-bed/2.0-bath single-family listed at $190k. Condition is rated excellent.
• At list price, monthly cash flow is $-72 ($-862/yr) — negative.
• To cash-flow at today's rent, offer at most $180k (5.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $159k (16.6% below list).
• It's been on market 165 days — a 12% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $159k (16.6% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 69/100 on livability (#446 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: amenities F, commute F, employment D-.
• Eustace ISD (rural): math 32% / reading 45% proficiency, ranked #455 of 826 in TX (top 55%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Eustace Pri (497 students, 74% FRL); Eustace Middle (math 34% / reading 44%, grade F, #690 of 1,662 statewide, top 42%, 382 students, 63% FRL); Eustace H S (math 22% / reading 57%, grade F, #821 of 1,632 statewide, top 53%, 473 students, 56% FRL) — zoned schools at 64% FRL track the district average.
• Market conditions: Rents falling (-5.8%/yr); 863 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 263 units permitted in Henderson County in 2024 (0 in 5+ unit buildings).
• 2 sale attempts 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.
• Climate carrying-cost: major wind risk, 61% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.8% vs local median 2.3% in Mabank — 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.
• This rent runs 31% of the median local income ($61k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 165 days. Have you received any prior offers? Is the seller open to a 17% 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.
• 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.