301 E County Road 2280

Riviera, TX 78379

$135,799B-

3 bd · 2.0 ba · 1,895 sqft · Built 1972 · SingleFamily · Active · 289 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,429/mo
• Mortgage (P&I): −$712
• Tax + insurance: −$179
• HOA: −$0
• Vac / Maint / Mgmt: −$300
• Net cashflow: $238/mo
• Annual: $2,855/yr
• Cap rate: 8.40%
• Cash-on-cash: 7.51%
• DSCR: 1.33
• 1% rule: 1.05%
• Cash to close: $38,024

Investor read

• This is a 3-bed/2.0-bath single-family listed at $136k. Condition is rated poor.
• At list price, monthly cash flow is $238 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $136k).
• It's been on market 289 days — a 12% lower offer ($120k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $120k (12.0% below list) — sets the bar for market timing.
• In year one you build about $6k of equity ($939 loan paydown + $6k appreciation (4.1% local appreciation)).
• Location reads 63/100 on livability (#838 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: employment C-, health & safety C-, crime F.
• Riviera ISD (rural): math 39% / reading 47% proficiency, ranked #318 of 826 in TX (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Nanny El (math 42% / reading 47%, grade F, #1,155 of 4,322 statewide, top 29%, 176 students, 54% FRL); De La Paz Middle (108 students, 49% FRL); Kaufer H S (math 32% / reading 47%, grade F, #821 of 1,632 statewide, top 53%, 194 students, 48% FRL) — zoned schools at 51% FRL track the district average.
• Market conditions: 26 active listings in the ZIP; 24 units permitted in Kleberg County in 2024 (0 in 5+ unit buildings).
• Kleberg County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (4.1% appreciation + 3.0% rent growth), your $38k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 289 days. Have you received any prior offers? Is the seller open to a 12% 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?
• Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.

Repairs flagged (vision-AI assessment)

• Major: roof — The roof has visible damage and missing shingles, indicating a significant issue.
• Major: exteriors — The house is surrounded by overgrown vegetation, indicating a lack of maintenance and potential structural issues.