134 Sienna Dr

Alvord, TX 76225

$235,990D-

5 bd · 3.0 ba · 1,804 sqft · Built 2025 · SingleFamily · Active · 111 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,855/mo
• Mortgage (P&I): −$1,238
• Tax + insurance: −$393
• HOA: −$0
• Vac / Maint / Mgmt: −$390
• Net cashflow: $-165/mo
• Annual: $-1,985/yr
• Cap rate: 5.45%
• Cash-on-cash: -3.00%
• DSCR: 0.87
• 1% rule: 0.79%
• Cash to close: $66,077

Investor read

• This is a 5-bed/3.0-bath single-family listed at $236k.
• At list price, monthly cash flow is $-165 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $212k (10.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $186k (21.4% below list).
• It's been on market 111 days — a 9% lower offer ($215k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $186k (21.4% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 69/100 on livability (#402 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: health & safety C-, amenities F, commute F.
• Alvord ISD (rural): math 58% / reading 52% proficiency, ranked #102 of 826 in TX (top 12%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 136 active listings in the ZIP; 460 units permitted in Wise County in 2024 (243 in 5+ unit buildings).
• Wise County population projected at +27% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Climate carrying-cost: major 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 5.5% vs local median 3.1% in Alvord — 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 111 days. Have you received any prior offers? Is the seller open to a 21% 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.
• 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?
• 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.