124 Toledo Pl

El Paso, TX 79905

$109,000A-

2 bd · 2.0 ba · 1,303 sqft · Built 1941 · Other · Pending · 65 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,508/mo
• Mortgage (P&I): −$572
• Tax + insurance: −$477
• HOA: −$0
• Vac / Maint / Mgmt: −$317
• Net cashflow: $143/mo
• Annual: $1,717/yr
• Cap rate: 9.54%
• Cash-on-cash: 11.60%
• DSCR: 1.52
• 1% rule: 1.38%
• Cash to close: $30,520

Investor read

• This is a 2-bed/2.0-bath other listed at $109k.
• At list price, monthly cash flow is $143 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $109k).
• It's been on market 65 days — a 6% lower offer ($102k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $102k (6.0% below list) — sets the bar for market timing.
• In year one you build about $12k of equity ($754 loan paydown + $11k appreciation (10.0% local appreciation)).
• Location reads 81/100 on livability (#23 in TX, #1,375 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: employment D+.
• El Paso ISD (urban): math 27% / reading 37% proficiency, ranked #591 of 826 in TX (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Cooley El (math 22% / reading 17%, grade F, #3,583 of 4,322 statewide, top 86%, 411 students, 97% FRL); Henderson Middle (math 10% / reading 19%); Jefferson H S (math 17% / reading 18%, grade F, #1,451 of 1,632 statewide, top 89%, 1,107 students, 97% FRL) — zoned schools average 97% FRL vs 65% district-wide (32 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 17% at this address vs 32% district-wide (-15 pts) — the specific schools serving this property underperform the El Paso ISD average; the district grade overstates school quality for this exact location.
• Watch-outs: property tax is 3.1% of price; flood insurance adds $152/mo; built in 1941 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 61 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 2,196 units permitted in El Paso County in 2024 (143 in 5+ unit buildings).
• El Paso County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $10k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: in FEMA flood zone AH (mandatory federal flood insurance); extreme-heat days projected 7→25/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 65 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1941 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.