3521 Hank Dr

Heartland, TX 75114

$249,995D

3 bd · 2.5 ba · 1,671 sqft · Built 2024 · SingleFamily · Active · 3 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,115/mo
• Mortgage (P&I): −$1,311
• Tax + insurance: −$417
• HOA: −$46
• Vac / Maint / Mgmt: −$444
• Net cashflow: $-103/mo
• Annual: $-1,236/yr
• Cap rate: 5.80%
• Cash-on-cash: -1.77%
• DSCR: 0.92
• 1% rule: 0.85%
• Cash to close: $69,999

Investor read

• This is a 3-bed/2.5-bath single-family listed at $250k. Condition is rated poor.
• At list price, monthly cash flow is $-103 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $235k (6.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $211k (15.4% below list).
• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $211k (15.4% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Crandall ISD (rural): math 36% / reading 42% proficiency, ranked #351 of 826 in TX (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Barbara Walker El (math 35% / reading 36%, grade F, #1,946 of 4,322 statewide, top 45%, 663 students, 67% FRL); Crandall Middle (math 38% / reading 42%, grade F, #646 of 1,662 statewide, top 40%, 983 students, 60% FRL); Crandall H S (math 33% / reading 53%, grade F, #713 of 1,632 statewide, top 44%, 1,707 students, 56% FRL) — zoned schools average 61% FRL vs 41% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 802 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 27d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,747 units permitted in Kaufman County in 2024 (180 in 5+ unit buildings).
• Kaufman County population projected at +43% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Cap rate 5.8% vs local median 4.6% in Heartland — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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 — Aerial view suggests potential for significant roof replacement.
• Major: exterior siding — Aerial view suggests potential for significant siding replacement.
• Major: landscaping — No landscaping or curb appeal photos provided.
• Major: interior walls/paint — No interior photos provided.
• Major: HVAC/mechanical systems — No HVAC/mechanical photos provided.