31 N Main St

Avinger, TX 75630

$74,500B

2 bd · 1.5 ba · 1,152 sqft · Built 1936 · Townhouse · Active · 25 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $989/mo
• Mortgage (P&I): −$391
• Tax + insurance: −$124
• HOA: −$0
• Vac / Maint / Mgmt: −$208
• Net cashflow: $267/mo
• Annual: $3,200/yr
• Cap rate: 10.59%
• Cash-on-cash: 15.34%
• DSCR: 1.68
• 1% rule: 1.33%
• Cash to close: $20,860

Investor read

• This is a 2-bed/1.5-bath townhouse listed at $74k. Condition is rated fair.
• At list price, monthly cash flow is $267 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($989 rent vs $74k).
• It's been on market 25 days — a 2% lower offer ($73k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $73k (1.5% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($515 loan paydown + $2k appreciation (2.2% local appreciation)).
• Location reads 60/100 on livability (#1,080 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools F, crime F, amenities F.
• Avinger ISD (rural): math 35% / reading 35% proficiency, ranked #903 of 1,141 in TX (top 79%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Watch-outs: built in 1936 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 85 active listings in the ZIP; 12 units permitted in Cass County in 2024 (0 in 5+ unit buildings).
• Cass County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (2.2% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~4 years — after that, you're playing with house money.

Questions for listing agent

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1936 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• 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: Exterior paint — Peeling paint
• Major: Exterior siding — Exposed brick
• Major: Landscaping — Overgrown vegetation
• Major: Interior doors — Missing doors
• Major: Flooring — Exposed concrete