310 W Pine St

Frankston, TX 75763

$115,000B

4 bd · 2.0 ba · 2,121 sqft · Built 1900 · SingleFamily · Active · 29 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,642/mo
• Mortgage (P&I): −$603
• Tax + insurance: −$414
• HOA: −$0
• Vac / Maint / Mgmt: −$345
• Net cashflow: $279/mo
• Annual: $3,353/yr
• Cap rate: 9.21%
• Cash-on-cash: 10.41%
• DSCR: 1.46
• 1% rule: 1.43%
• Cash to close: $32,200

Investor read

• This is a 4-bed/2.0-bath single-family listed at $115k.
• At list price, monthly cash flow is $279 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• It's been on market 29 days — a 2% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $113k (1.5% below list) — sets the bar for market timing.
• In year one you build about $12k of equity ($795 loan paydown + $12k appreciation (10.0% local appreciation)).
• Location reads 62/100 on livability (#918 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+; Watch: employment D+, amenities F, commute F.
• Frankston ISD (rural): math 54% / reading 49% proficiency, ranked #155 of 826 in TX (top 19%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Frankston El (math 57% / reading 52%, grade C, #621 of 4,322 statewide, top 15%, 373 students, 63% FRL); Frankston Middle (math 57% / reading 42%, grade C, #356 of 1,662 statewide, top 23%, 184 students, 62% FRL); Frankston H S (math 24% / reading 62%, grade F, #708 of 1,632 statewide, top 44%, 245 students, 50% FRL).
• Watch-outs: property tax is 3.8% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 191 active listings in the ZIP; 29 units permitted in Anderson County in 2024 (0 in 5+ unit buildings).
• Anderson County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wind risk, 68% chance of damaging wind over 30y; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• 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.