60 E Canyon View Dr

Ransom Canyon, TX 79366

$185,000D

3 bd · 2.0 ba · 1,518 sqft · Built 1977 · SingleFamily · Active · 236 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,396/mo
• Mortgage (P&I): −$970
• Tax + insurance: −$469
• HOA: −$0
• Vac / Maint / Mgmt: −$293
• Net cashflow: $-337/mo
• Annual: $-4,040/yr
• Cap rate: 4.11%
• Cash-on-cash: -7.80%
• DSCR: 0.65
• 1% rule: 0.75%
• Cash to close: $51,800

Investor read

• This is a 3-bed/2.0-bath single-family listed at $185k.
• At list price, monthly cash flow is $-337 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $126k (32.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $140k (24.5% below list).
• It's been on market 236 days — a 12% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $126k (32.2% below list) — sets the bar for cash-flow.
• In year one you build about $4k of equity ($1k loan paydown + $2k appreciation (1.3% local appreciation)).
• Location reads 75/100 on livability (#162 in TX, #4,336 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• Roosevelt ISD (rural): math 30% / reading 36% proficiency, ranked #553 of 826 in TX (top 67%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Roosevelt El (math 27% / reading 31%, grade F, #2,668 of 4,322 statewide, top 63%, 536 students, 76% FRL); Roosevelt J H (math 29% / reading 34%, grade F, #997 of 1,662 statewide, top 61%, 289 students, 74% FRL); Roosevelt H S (math 42% / reading 52%, grade D-, #591 of 1,632 statewide, top 38%, 350 students, 70% FRL).
• Watch-outs: property tax is 2.5% of price.
• Market conditions: 28 active listings in the ZIP; 2,219 units permitted in Lubbock County in 2024 (252 in 5+ unit buildings).
• Lubbock County population projected at +39% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts; this cycle's ask has dropped $80k (30%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• By year 9, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 5→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

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 236 days. Have you received any prior offers? Is the seller open to a 32% concession, seller financing, or rate buy-down credit?
• Built in 1977 — 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?
• 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.
• 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.