805 Santa Lucia Dr

Anna, TX 75409

$324,000D-

4 bd · 2.5 ba · 1,805 sqft · Built 2024 · SingleFamily · Active · 101 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,414/mo
• Mortgage (P&I): −$1,699
• Tax + insurance: −$540
• HOA: −$133
• Vac / Maint / Mgmt: −$507
• Net cashflow: $-465/mo
• Annual: $-5,585/yr
• Cap rate: 4.57%
• Cash-on-cash: -6.16%
• DSCR: 0.73
• 1% rule: 0.74%
• Cash to close: $90,720

Investor read

• This is a 4-bed/2.5-bath single-family listed at $324k.
• At list price, monthly cash flow is $-465 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $257k (20.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $241k (25.5% below list).
• It's been on market 101 days — a 9% lower offer ($295k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $241k (25.5% 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 $10k of value loss. Plan a longer hold.
• Location reads 75/100 on livability (#127 in TX, #3,880 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: amenities F, commute F.
• Anna ISD (rural): math 44% / reading 41% proficiency, ranked #271 of 826 in TX (top 33%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents soft (-1.9%/yr); 1199 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 19,194 units permitted in Collin County in 2024 (3,988 in 5+ unit buildings).
• Collin County population projected at +60% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts; this cycle's ask has dropped $24k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Cap rate 4.6% vs local median 3.6% in Anna — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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 101 days. Have you received any prior offers? Is the seller open to a 26% 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.
• Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.