302 Easy St

Copperas Cove, TX 76522

$135,000C

3 bd · 1.0 ba · 1,285 sqft · Built 1969 · SingleFamily · Active · 275 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,384/mo
• Mortgage (P&I): −$708
• Tax + insurance: −$225
• HOA: −$0
• Vac / Maint / Mgmt: −$291
• Net cashflow: $161/mo
• Annual: $1,927/yr
• Cap rate: 7.72%
• Cash-on-cash: 5.10%
• DSCR: 1.23
• 1% rule: 1.03%
• Cash to close: $37,800

Investor read

• This is a 3-bed/1.0-bath single-family listed at $135k. Condition is rated average.
• At list price, monthly cash flow is $161 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $135k).
• It's been on market 275 days — a 12% lower offer ($119k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $119k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 65/100 on livability (#706 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools C-, employment D+, amenities F.
• Copperas Cove ISD (suburban): math 41% / reading 42% proficiency, ranked #340 of 826 in TX (top 41%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents soft (-0.2%/yr); 605 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% of comp listings sitting > 30 days — soft ceiling on asking rent; 386 units permitted in Coryell County in 2024 (0 in 5+ unit buildings).
• 5 sale attempts; this cycle's ask has dropped $15k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Cap rate 7.7% vs local median 3.4% in Copperas Cove — 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 275 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1969 — 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.
• 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 — shingles appear worn
• Major: exterior siding — white siding with discoloration
• Moderate: kitchen cabinets — dated cabinetry
• Moderate: bathroom fixtures — standard fixtures