140 Starpacker Ln

Sonterra, TX 76537

$201,999C-

3 bd · 2.0 ba · 1,273 sqft · Built 2026 · Other · Pending · 23 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,896/mo
• Mortgage (P&I): −$1,059
• Tax + insurance: −$205
• HOA: −$25
• Vac / Maint / Mgmt: −$398
• Net cashflow: $209/mo
• Annual: $2,507/yr
• Cap rate: 7.53%
• Cash-on-cash: 4.43%
• DSCR: 1.20
• 1% rule: 0.94%
• Cash to close: $56,560

Investor read

• This is a 3-bed/2.0-bath other listed at $202k. Condition is rated excellent.
• At list price, monthly cash flow is $209 ($3k/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 $190k (6.1% below list).
• It's been on market 23 days — a 2% lower offer ($199k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $190k (6.1% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Jarrell ISD (rural): math 19% / reading 28% proficiency, ranked #713 of 826 in TX (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents soft (-1.7%/yr); 773 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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.
• Cap rate 7.5% vs local median 4.5% in Sonterra — 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 does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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.