609 W Main St

Ranger, TX 76470

$124,900C-

3 bd · 1.0 ba · 2,046 sqft · Built 1937 · SingleFamily · Pending · 81 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,288/mo
• Mortgage (P&I): −$655
• Tax + insurance: −$261
• HOA: −$0
• Vac / Maint / Mgmt: −$271
• Net cashflow: $102/mo
• Annual: $1,222/yr
• Cap rate: 7.27%
• Cash-on-cash: 3.49%
• DSCR: 1.16
• 1% rule: 1.03%
• Cash to close: $34,972

Investor read

• This is a 3-bed/1.0-bath single-family listed at $125k.
• At list price, monthly cash flow is $102 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).
• It's been on market 81 days — a 6% lower offer ($117k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $117k (6.0% below list) — sets the bar for market timing.
• In year one you build about $817 of equity ($864 loan paydown + $-47 appreciation (-0.0% local appreciation)).
• Location reads 70/100 on livability (#378 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: amenities F, commute F, employment F.
• Ranger ISD (rural): math 23% / reading 33% proficiency, ranked #1,056 of 1,141 in TX (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 71% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Ranger El (math 17% / reading 32%, grade F, #3,052 of 4,322 statewide, top 74%, 157 students, 77% FRL); Ranger Middle (math 22% / reading 32%, grade F, #1,177 of 1,662 statewide, top 72%, 69 students, 78% FRL); Ranger H S (math 10% / reading 5%, grade F, #1,601 of 1,632 statewide, top 99%, 97 students, 77% FRL).
• Watch-outs: built in 1937 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 46 active listings in the ZIP; 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.
• At projected returns (-0.0% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~10 years — after that, you're playing with house money.
• Climate carrying-cost: moderate flood risk; 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.

Questions for listing agent

• It's been on market 81 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1937 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 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.