6809 E Midway Rd

Sand Springs, TX 79720

$50,000B-

3 bd · 1.0 ba · 1,456 sqft · Built 1975 · SingleFamily · Active · 49 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,720/mo
• Mortgage (P&I): −$262
• Tax + insurance: −$153
• HOA: −$0
• Vac / Maint / Mgmt: −$361
• Net cashflow: $944/mo
• Annual: $11,324/yr
• Cap rate: 28.94%
• Cash-on-cash: 80.88%
• DSCR: 4.60
• 1% rule: 3.44%
• Cash to close: $14,000

Investor read

• This is a 3-bed/1.0-bath single-family listed at $50k.
• At list price, monthly cash flow is $944 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $50k).
• It's been on market 49 days — a 3% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $48k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $346 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 51/100 on livability (#1,469 in TX) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: health & safety C-, housing D, amenities F.
• Coahoma ISD (rural): math 25% / reading 32% proficiency, ranked #649 of 826 in TX (top 79%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Coahoma El (math 30% / reading 36%, grade F, #2,208 of 4,322 statewide, top 52%, 568 students, 43% FRL); Coahoma J H (math 25% / reading 28%, grade F, #1,200 of 1,662 statewide, top 73%, 256 students, 39% FRL); Coahoma H S (math 5% / reading 32%, grade F, #1,436 of 1,632 statewide, top 88%, 271 students, 33% FRL).
• Watch-outs: property tax is 3.2% of price.
• Market conditions: 266 active listings in the ZIP; 69 units permitted in Howard County in 2024 (5 in 5+ unit buildings).
• Howard County population projected at +42% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.
• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• This rent runs 30% of the median local income ($69k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 49 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-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.