1801 E Highway 285

Airport Road Addition, TX 78355

$59,000B

3 bd · 1.0 ba · 1,394 sqft · Built 1970 · SingleFamily · Active · 112 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,199/mo
• Mortgage (P&I): −$309
• Tax + insurance: −$110
• HOA: −$0
• Vac / Maint / Mgmt: −$252
• Net cashflow: $528/mo
• Annual: $6,333/yr
• Cap rate: 17.03%
• Cash-on-cash: 38.34%
• DSCR: 2.71
• 1% rule: 2.03%
• Cash to close: $16,520

Investor read

• This is a 3-bed/1.0-bath single-family listed at $59k. Condition is rated fair.
• At list price, monthly cash flow is $528 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $59k).
• It's been on market 112 days — a 9% lower offer ($54k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $54k (9.0% below list) — sets the bar for market timing.
• In year one you build about $696 of equity ($408 loan paydown + $288 appreciation (0.5% local appreciation)).
• Location reads 65/100 on livability (#669 in TX) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: health & safety C-, schools F, crime F.
• Brooks County ISD (town): math 19% / reading 26% proficiency, ranked #776 of 826 in TX (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; only 19% free/reduced lunch — higher-income household profile.
• Market conditions: 42 active listings in the ZIP.
• 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.
• Current owner paid $50k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (0.5% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~3 years — after that, you're playing with house money.
• Climate carrying-cost: moderate flood risk; severe wind risk, 99% chance of damaging wind over 30y; severe wildfire risk; extreme-heat days projected 7→20/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 112 days. Have you received any prior offers? Is the seller open to a 9% 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?
• Built in 1970 — 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?
• Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.

Repairs flagged (vision-AI assessment)

• Moderate: exterior siding — Visible wear and tear
• Major: interior walls — Paint peeling and worn condition
• Moderate: kitchen cabinets — Older style, could be updated