7447 Oleander St

Grape Creek, TX 76901

$140,000B+

3 bd · 2.0 ba · 1,344 sqft · Built 2004 · SingleFamily · Active · 36 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,666/mo
• Mortgage (P&I): −$734
• Tax + insurance: −$233
• HOA: −$0
• Vac / Maint / Mgmt: −$350
• Net cashflow: $349/mo
• Annual: $4,187/yr
• Cap rate: 9.28%
• Cash-on-cash: 10.68%
• DSCR: 1.48
• 1% rule: 1.19%
• Cash to close: $39,200

Investor read

• This is a 3-bed/2.0-bath single-family listed at $140k. Condition is rated fair.
• At list price, monthly cash flow is $349 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• It's been on market 36 days — a 3% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $136k (3.0% below list) — sets the bar for market timing.
• In year one you build about $15k of equity ($968 loan paydown + $14k appreciation (10.0% local appreciation)).
• Location reads 67/100 on livability (#545 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: health & safety C-, amenities F, commute F.
• Grape Creek ISD (rural): math 25% / reading 29% proficiency, ranked #675 of 826 in TX (top 82%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Grape Creek Pri (316 students, 74% FRL); Grape Creek Middle (math 18% / reading 26%, grade F, #1,360 of 1,662 statewide, top 83%, 270 students, 60% FRL); Grape Creek H S (math 27% / reading 37%, grade F, #1,044 of 1,632 statewide, top 66%, 308 students, 63% FRL).
• Market conditions: Rents rising fast (+5.8%/yr); 331 active listings in the ZIP; 233 units permitted in Tom Green County in 2024 (0 in 5+ unit buildings).
• Tom Green County population projected at +35% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 5.8% rent growth), your $39k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 9.3% vs local median 2.6% in Grape Creek — 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 36 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.

Repairs flagged (vision-AI assessment)

• Minor: Kitchen cabinets — Aesthetic update needed.
• Minor: Bathtub and sink — Update needed for a fresh look.
• Moderate: Exterior siding — Weathered appearance requires repainting or replacement.
• Minor: Paint — Faded paint needs touch-up or fresh coat.
• Minor: Landscaping — Sparse and could benefit from some updates to enhance curb appeal.