605 Abney

Whitesboro, TX 76273

$147,000C-

3 bd · 1.0 ba · 1,238 sqft · Built 1980 · SingleFamily · Active · 263 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,457/mo
• Mortgage (P&I): −$771
• Tax + insurance: −$287
• HOA: −$0
• Vac / Maint / Mgmt: −$306
• Net cashflow: $94/mo
• Annual: $1,125/yr
• Cap rate: 7.06%
• Cash-on-cash: 2.73%
• DSCR: 1.12
• 1% rule: 0.99%
• Cash to close: $41,160

Investor read

• This is a 3-bed/1.0-bath single-family listed at $147k.
• At list price, monthly cash flow is $94 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $146k (0.9% below list).
• It's been on market 263 days — a 12% lower offer ($129k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $129k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 75/100 on livability (#143 in TX, #4,041 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: schools C-, amenities F, commute F.
• Whitesboro ISD (town): math 43% / reading 46% proficiency, ranked #272 of 826 in TX (top 33%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 283 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 2,272 units permitted in Grayson County in 2024 (750 in 5+ unit buildings).
• Grayson County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 13 sale attempts since 17y ago; this cycle's ask has dropped $42k (22%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 7.1% vs local median 2.3% in Whitesboro — 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 263 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.
• 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.