1414 Walworth St

Greenville, TX 75401

$165,900D+

2 bd · 3.0 ba · 1,520 sqft · Built 1900 · SingleFamily · Active · 439 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,505/mo
• Mortgage (P&I): −$870
• Tax + insurance: −$363
• HOA: −$0
• Vac / Maint / Mgmt: −$316
• Net cashflow: $-44/mo
• Annual: $-525/yr
• Cap rate: 5.98%
• Cash-on-cash: -1.13%
• DSCR: 0.95
• 1% rule: 0.91%
• Cash to close: $46,452

Investor read

• This is a 2-bed/3.0-bath single-family listed at $166k.
• At list price, monthly cash flow is $-44 ($-525/yr) — negative.
• To cash-flow at today's rent, offer at most $158k (4.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $151k (9.3% below list).
• It's been on market 439 days — a 12% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $146k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 77/100 on livability (#78 in TX, #2,719 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: employment D, commute F.
• Greenville ISD (town): math 20% / reading 26% proficiency, ranked #743 of 826 in TX (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Lamar El (math 28% / reading 33%, grade F, #2,464 of 4,322 statewide, top 58%, 554 students, 59% FRL); Greenville Middle (math 17% / reading 28%, grade F, #1,341 of 1,662 statewide, top 82%, 727 students, 76% FRL); Greenville H S (math 17% / reading 37%, grade F, #1,204 of 1,632 statewide, top 75%, 1,480 students, 66% FRL).
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents flat; 395 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 1,289 units permitted in Hunt County in 2024 (527 in 5+ unit buildings).
• Hunt County population projected at +15% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 5 sale attempts since 8y ago; this cycle's ask has dropped $14k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.0% vs local median 4.1% in Greenville — 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.
• This rent runs 30% of the median local income ($60k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 439 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1900 — 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 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?
• 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.