Winchester Plan

Bryan, TX 77808

$1F

4 bd · 2.5 ba · 2,119 sqft · Built — · SingleFamily · Active · 420 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,765/mo
• Mortgage (P&I): −$2,613
• Tax + insurance: −$830
• HOA: −$25
• Vac / Maint / Mgmt: −$581
• Net cashflow: $-1,284/mo
• Annual: $-15,404/yr
• Cap rate: 3.20%
• Cash-on-cash: -11.04%
• DSCR: 0.51
• 1% rule: 0.55%
• Cash to close: $139,502

Investor read

• This is a 4-bed/2.5-bath single-family listed at $1. Condition is rated excellent.
• At list price, monthly cash flow is $-1k ($-15k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $1).
• It's been on market 420 days — a 12% lower offer ($0) is reasonable based on typical stale-listing flexibility.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $15k of value loss. Plan a longer hold.
• Location reads 76/100 on livability (#99 in TX, #3,341 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, crime C-, amenities C-.
• Bryan ISD (urban): math 30% / reading 32% proficiency, ranked #608 of 826 in TX (top 74%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Watch-outs: property tax is 747333.5% of price.
• Market conditions: 371 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 2,211 units permitted in Brazos County in 2024 (768 in 5+ unit buildings).
• Brazos County population projected at +55% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Cap rate 3.2% vs local median 4.0% in Bryan — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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 420 days. Have you received any prior offers? Is the seller open to a 5% concession, seller financing, or rate buy-down credit?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• 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.