2332 Gypsum St

Lewisville, TX 76249

$574,900F

4 bd · 3.0 ba · 2,499 sqft · Built 2026 · Land · Active · 70 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,784/mo
• Mortgage (P&I): −$3,015
• Tax + insurance: −$395
• HOA: −$38
• Vac / Maint / Mgmt: −$585
• Net cashflow: $-1,249/mo
• Annual: $-14,982/yr
• Cap rate: 3.69%
• Cash-on-cash: -9.31%
• DSCR: 0.59
• 1% rule: 0.48%
• Cash to close: $160,972

Investor read

• This is a 4-bed/3.0-bath land listed at $575k.
• At list price, monthly cash flow is $-1k ($-15k/yr) — negative.
• To cash-flow at today's rent, offer at most $354k (38.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $278k (51.6% below list).
• It's been on market 70 days — a 6% lower offer ($540k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $278k (51.6% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $17k of value loss. Plan a longer hold.
• Location reads 69/100 on livability (#440 in TX) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A, crime B+; Watch: commute D+, amenities F, health & safety F.
• Lewisville ISD (suburban): math 49% / reading 54% proficiency, ranked #109 of 826 in TX (top 13%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Highland Village El (math 62% / reading 62%, grade B, #321 of 4,322 statewide, top 8%, 358 students, 17% FRL); Briarhill Middle (math 67% / reading 68%, grade A-, #77 of 1,662 statewide, top 5%, 799 students, 11% FRL); Marcus H S (math 75% / reading 81%, grade A-, #58 of 1,632 statewide, top 4%, 3,005 students, 11% FRL).
• Zoned-school proficiency averages 69% at this address vs 52% district-wide (+18 pts) — the actual schools serving this property are materially stronger than the Lewisville ISD average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 272 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 10,531 units permitted in Denton County in 2024 (2,713 in 5+ unit buildings).
• Denton County population projected at +66% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Climate carrying-cost: moderate wind risk, 26% chance of damaging wind over 30y; 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

• 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 70 days. Have you received any prior offers? Is the seller open to a 52% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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.