308 N Broad St

Coupland, TX 78615

$289,000D-

3 bd · 1.5 ba · 2,436 sqft · Built 1907 · SingleFamily · Active · 493 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,079/mo
• Mortgage (P&I): −$1,516
• Tax + insurance: −$561
• HOA: −$0
• Vac / Maint / Mgmt: −$437
• Net cashflow: $-434/mo
• Annual: $-5,210/yr
• Cap rate: 4.49%
• Cash-on-cash: -6.44%
• DSCR: 0.71
• 1% rule: 0.72%
• Cash to close: $80,920

Investor read

• This is a 3-bed/1.5-bath single-family listed at $289k.
• At list price, monthly cash flow is $-434 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $212k (26.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $208k (28.1% below list).
• It's been on market 493 days — a 12% lower offer ($254k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $208k (28.1% below list) — sets the bar for 1% rule.
• In year one you build about $13k of equity ($2k loan paydown + $11k appreciation (3.8% local appreciation)).
• Location reads 63/100 on livability (#869 in TX) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: crime D+, amenities F, commute F.
• Coupland ISD (rural): math 45% / reading 55% proficiency, ranked #291 of 1,141 in TX (top 26%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Coupland El (math 47% / reading 47%, grade D-, #1,006 of 4,322 statewide, top 25%, 285 students, 61% FRL) — zoned schools average 61% FRL vs 27% district-wide (34 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1907 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 55 active listings in the ZIP; 7,543 units permitted in Williamson County in 2024 (1,425 in 5+ unit buildings).
• Williamson County population projected at +69% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 17 sale attempts since 26y ago; this cycle's ask has dropped $41k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• By year 3, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 4.5% vs local median 1.4% in Coupland — 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

• 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 493 days. Have you received any prior offers? Is the seller open to a 28% concession, seller financing, or rate buy-down credit?
• Built in 1907 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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?