Napali Plan

Angleton, TX 77515

$322,990D-

5 bd · 3.0 ba · 2,649 sqft · Built — · SingleFamily · Active · 160 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,649/mo
• Mortgage (P&I): −$1,770
• Tax + insurance: −$629
• HOA: −$0
• Vac / Maint / Mgmt: −$556
• Net cashflow: $-306/mo
• Annual: $-3,677/yr
• Cap rate: 5.44%
• Cash-on-cash: -3.05%
• DSCR: 0.86
• 1% rule: 0.78%
• Cash to close: $94,511

Investor read

• This is a 5-bed/3.0-bath single-family listed at $323k. Condition is rated good.
• At list price, monthly cash flow is $-306 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $293k (9.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $265k (18.0% below list).
• It's been on market 160 days — a 12% lower offer ($284k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $265k (18.0% 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 $10k of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#171 in TX, #4,520 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment A-; Watch: amenities F, commute F.
• Angleton ISD (suburban): math 36% / reading 44% proficiency, ranked #375 of 826 in TX (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Rancho Isabella El (math 42% / reading 47%, grade F, #1,155 of 4,322 statewide, top 29%, 418 students, 68% FRL); Angleton J H School (math 26% / reading 41%, grade F, #911 of 1,662 statewide, top 56%, 1,561 students, 68% FRL); Angleton H S (math 22% / reading 45%, grade F, #1,011 of 1,632 statewide, top 63%, 2,066 students, 67% FRL).
• Watch-outs: flood insurance adds $66/mo.
• Market conditions: 1262 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 72d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 3,960 units permitted in Brazoria County in 2024 (593 in 5+ unit buildings).
• Brazoria County population projected at +44% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Climate carrying-cost: severe flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.4% vs local median 4.3% in Angleton — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.
• This rent runs 36% of the median local income ($89k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 160 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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?
• 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.