2140 Jesse James Ln

Burleson, TX 76058

$243,999C-

3 bd · 2.0 ba · 1,311 sqft · Built 2026 · SingleFamily · Active · 121 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,650/mo
• Mortgage (P&I): −$1,280
• Tax + insurance: −$407
• HOA: −$0
• Vac / Maint / Mgmt: −$556
• Net cashflow: $407/mo
• Annual: $4,887/yr
• Cap rate: 8.30%
• Cash-on-cash: 7.15%
• DSCR: 1.32
• 1% rule: 1.09%
• Cash to close: $68,320

Investor read

• This is a 3-bed/2.0-bath single-family listed at $244k. Condition is rated poor.
• At list price, monthly cash flow is $407 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $244k).
• It's been on market 121 days — a 12% lower offer ($215k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $215k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 79/100 on livability (#53 in TX, #2,133 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Joshua ISD (rural): math 52% / reading 50% proficiency, ranked #139 of 826 in TX (top 17%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 420 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 2,152 units permitted in Johnson County in 2024 (76 in 5+ unit buildings).
• Johnson County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 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.
• Cap rate 8.3% vs local median 3.5% in Burleson — 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

• It's been on market 121 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Major: roof — The satellite image shows signs of wear and tear on the roof.
• Major: landscaping — The satellite image shows overgrown vegetation and a lack of landscaping.