185 County Road 422

Kirbyville, TX 75956

$65,000B+

2 bd · 1.0 ba · 600 sqft · Built — · Other · Active · 254 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $800/mo
• Mortgage (P&I): −$341
• Tax + insurance: −$115
• HOA: −$0
• Vac / Maint / Mgmt: −$168
• Net cashflow: $176/mo
• Annual: $2,117/yr
• Cap rate: 9.55%
• Cash-on-cash: 11.63%
• DSCR: 1.52
• 1% rule: 1.23%
• Cash to close: $18,200

Investor read

• This is a 2-bed/1.0-bath other listed at $65k.
• At list price, monthly cash flow is $176 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($800 rent vs $65k).
• It's been on market 254 days — a 12% lower offer ($57k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $57k (12.0% below list) — sets the bar for market timing.
• In year one you build about $1k of equity ($449 loan paydown + $804 appreciation (1.2% local appreciation)).
• Location reads 59/100 on livability (#1,133 in TX) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A, health & safety A; Watch: schools D+, amenities F, commute F.
• Kirbyville CISD (rural): math 48% / reading 43% proficiency, ranked #274 of 826 in TX (top 33%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 98 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 45 units permitted in Jasper County in 2024 (0 in 5+ unit buildings).
• Jasper County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts; this cycle's ask has dropped $45k (41%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (1.2% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~5 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 254 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 D-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.