602 E Stinson

Freer, TX 78357

$135,000C+

5 bd · 3.0 ba · 3,174 sqft · Built 1965 · SingleFamily · Pending

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,407/mo
• Mortgage (P&I): −$708
• Tax + insurance: −$291
• HOA: −$0
• Vac / Maint / Mgmt: −$296
• Net cashflow: $112/mo
• Annual: $1,347/yr
• Cap rate: 7.88%
• Cash-on-cash: 5.67%
• DSCR: 1.25
• 1% rule: 1.04%
• Cash to close: $37,800

Investor read

• This is a 5-bed/3.0-bath single-family listed at $135k.
• At list price, monthly cash flow is $112 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $135k).
• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $924 of equity ($933 loan paydown + $-9 appreciation (-0.0% local appreciation)).
• Location reads 66/100 on livability (#643 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: employment C-, health & safety C-, amenities F.
• Freer ISD (rural): math 34% / reading 31% proficiency, ranked #575 of 826 in TX (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Norman M Thomas El (math 42% / reading 27%, grade F, #1,995 of 4,322 statewide, top 50%, 374 students, 80% FRL); Lucy Aragon J H (math 27% / reading 32%, grade F, #1,077 of 1,662 statewide, top 66%, 190 students, 83% FRL); Freer H S (math 24% / reading 34%, grade F, #1,112 of 1,632 statewide, top 70%, 170 students, 81% FRL) — zoned schools average 81% FRL vs 65% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: flood insurance adds $66/mo.
• Market conditions: 21 active listings in the ZIP.
• Duval County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-0.0% appreciation + 3.0% rent growth), your $38k cash investment doubles in ~10 years — after that, you're playing with house money.
• Climate carrying-cost: major flood risk; severe wind risk, 94% chance of damaging wind over 30y; moderate wildfire risk; 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

• Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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.