720 N Seaman St

Eastland, TX 76448

$68,000B+

3 bd · 1.0 ba · 1,353 sqft · Built 1950 · SingleFamily · Active · 767 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,027/mo
• Mortgage (P&I): −$357
• Tax + insurance: −$608
• HOA: −$0
• Vac / Maint / Mgmt: −$216
• Net cashflow: $-153/mo
• Annual: $-1,838/yr
• Cap rate: 11.12%
• Cash-on-cash: 17.23%
• DSCR: 1.77
• 1% rule: 1.51%
• Cash to close: $19,040

Investor read

• This is a 3-bed/1.0-bath single-family listed at $68k.
• At list price, monthly cash flow is $-153 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $41k (39.8% below list).
• Meets the 1% rule at list price ($1k rent vs $68k).
• It's been on market 767 days — a 12% lower offer ($60k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $41k (39.8% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $470 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 76/100 on livability (#104 in TX, #3,483 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F, employment F.
• Eastland ISD (town): math 45% / reading 41% proficiency, ranked #349 of 826 in TX (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Siebert El (math 49% / reading 43%, grade D-, #1,097 of 4,322 statewide, top 26%, 491 students, 65% FRL); Eastland Middle (math 41% / reading 36%, grade F, #704 of 1,662 statewide, top 43%, 257 students, 59% FRL); Eastland H S (math 42% / reading 47%, grade F, #652 of 1,632 statewide, top 43%, 309 students, 57% FRL).
• Watch-outs: property tax is 2.7% of price; flood insurance adds $427/mo; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 85 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 10 units permitted in Eastland County in 2024 (0 in 5+ unit buildings).
• Eastland County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); major wind risk, 27% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 11.1% vs local median 3.1% in Eastland — 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.

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 767 days. Have you received any prior offers? Is the seller open to a 40% concession, seller financing, or rate buy-down credit?
• Built in 1950 — 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?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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 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?