6049 Farm Road 3236

Tira, TX 75437

$59,000B

2 bd · 1.0 ba · 932 sqft · Built 1940 · SingleFamily · Active · 192 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $969/mo
• Mortgage (P&I): −$309
• Tax + insurance: −$61
• HOA: −$0
• Vac / Maint / Mgmt: −$204
• Net cashflow: $395/mo
• Annual: $4,742/yr
• Cap rate: 14.33%
• Cash-on-cash: 28.71%
• DSCR: 2.28
• 1% rule: 1.64%
• Cash to close: $16,520

Investor read

• This is a 2-bed/1.0-bath single-family listed at $59k.
• At list price, monthly cash flow is $395 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($969 rent vs $59k).
• It's been on market 192 days — a 12% lower offer ($52k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $52k (12.0% below list) — sets the bar for market timing.
• In year one you build about $891 of equity ($408 loan paydown + $483 appreciation (0.8% local appreciation)).
• Location reads 48/100 on livability (#1,524 in TX) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: employment C-, schools F, crime F.
• Sulphur Bluff ISD (rural): math 45% / reading 50% proficiency, ranked #437 of 1,141 in TX (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 20 active listings in the ZIP; 66 units permitted in Hopkins County in 2024 (0 in 5+ unit buildings).
• Hopkins County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 3 sale attempts since 3y ago 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.
• At projected returns (0.8% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~3 years — after that, you're playing with house money.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→23/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 192 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1940 — 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.
• 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.