217 N Texas St

Pittsburg, TX 75686

$139,000B

4 bd · 2.0 ba · 2,952 sqft · Built 1924 · SingleFamily · Active · 36 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,300/mo
• Mortgage (P&I): −$729
• Tax + insurance: −$367
• HOA: −$0
• Vac / Maint / Mgmt: −$483
• Net cashflow: $721/mo
• Annual: $8,651/yr
• Cap rate: 12.52%
• Cash-on-cash: 22.23%
• DSCR: 1.99
• 1% rule: 1.65%
• Cash to close: $38,920

Investor read

• This is a 4-bed/2.0-bath single-family listed at $139k.
• At list price, monthly cash flow is $721 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $139k).
• It's been on market 36 days — a 3% lower offer ($135k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $135k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $961 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 75/100 on livability (#144 in TX, #4,098 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: crime C-, amenities D+, employment D+.
• Pittsburg ISD (town): math 54% / reading 44% proficiency, ranked #216 of 826 in TX (top 26%) — 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.
• Zoned schools: Pittsburg El (math 34% / reading 35%, grade F, #1,995 of 4,322 statewide, top 50%, 545 students, 80% FRL); Pittsburg J H (math 48% / reading 43%, grade D+, #470 of 1,662 statewide, top 29%, 349 students, 82% FRL); Pittsburg H S (math 62% / reading 52%, grade C, #333 of 1,632 statewide, top 22%, 726 students, 78% FRL).
• Watch-outs: property tax is 2.7% of price; built in 1924 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 313 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 3 units permitted in Camp County in 2024 (0 in 5+ unit buildings).
• Camp County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 11 sale attempts since 12y 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 (-3.0% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~6 years — after that, you're playing with house money.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 12.5% vs local median 5.1% in Pittsburg — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Questions for listing agent

• It's been on market 36 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1924 — 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?
• 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.
• 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.