108 Bounty St

Blessing, TX 77419

$79,359B+

4 bd · 2.0 ba · 2,236 sqft · Built 1982 · SingleFamily · Active · 253 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,452/mo
• Mortgage (P&I): −$416
• Tax + insurance: −$118
• HOA: −$0
• Vac / Maint / Mgmt: −$305
• Net cashflow: $613/mo
• Annual: $7,356/yr
• Cap rate: 15.56%
• Cash-on-cash: 33.10%
• DSCR: 2.47
• 1% rule: 1.83%
• Cash to close: $22,221

Investor read

• This is a 4-bed/2.0-bath single-family listed at $79k.
• At list price, monthly cash flow is $613 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $79k).
• It's been on market 253 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• In year one you build about $4k of equity ($548 loan paydown + $3k appreciation (3.7% local appreciation)).
• Location reads 54/100 on livability (#1,386 in TX) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: housing C-, health & safety C-, schools F.
• Tidehaven ISD (rural): math 54% / reading 54% proficiency, ranked #127 of 826 in TX (top 15%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 26 active listings in the ZIP; 153 units permitted in Matagorda County in 2024 (0 in 5+ unit buildings).
• 2 sale attempts; this cycle's ask has dropped $6k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (3.7% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 5→15/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 253 days. Have you received any prior offers? Is the seller open to a 12% 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.
• 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?
• 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.