3541 Hank Dr

Heartland, TX 75114

$315,990D

4 bd · 2.5 ba · 2,235 sqft · Built 2026 · SingleFamily · Active · 98 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,473/mo
• Mortgage (P&I): −$1,657
• Tax + insurance: −$527
• HOA: −$0
• Vac / Maint / Mgmt: −$519
• Net cashflow: $-230/mo
• Annual: $-2,763/yr
• Cap rate: 5.42%
• Cash-on-cash: -3.12%
• DSCR: 0.86
• 1% rule: 0.78%
• Cash to close: $88,477

Investor read

• This is a 4-bed/2.5-bath single-family listed at $316k. Condition is rated excellent.
• At list price, monthly cash flow is $-230 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $283k (10.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $247k (21.7% below list).
• It's been on market 98 days — a 9% lower offer ($288k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $247k (21.7% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Crandall ISD (rural): math 36% / reading 42% proficiency, ranked #351 of 826 in TX (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 787 active listings in the ZIP; 31 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,747 units permitted in Kaufman County in 2024 (180 in 5+ unit buildings).
• Kaufman County population projected at +43% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• This rent runs 34% of the median local income ($88k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 98 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
• 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.
• 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.
• 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.