421 Las Tobia Dr

Carrizo Hill, TX 78834

$75,500C+

2 bd · 1.0 ba · 750 sqft · Built 1980 · SingleFamily · Active · 10 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $828/mo
• Mortgage (P&I): −$396
• Tax + insurance: −$81
• HOA: −$0
• Vac / Maint / Mgmt: −$174
• Net cashflow: $177/mo
• Annual: $2,126/yr
• Cap rate: 9.11%
• Cash-on-cash: 10.05%
• DSCR: 1.45
• 1% rule: 1.10%
• Cash to close: $21,140

Investor read

• This is a 2-bed/1.0-bath single-family listed at $76k.
• At list price, monthly cash flow is $177 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($828 rent vs $76k).
• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $5k of equity ($522 loan paydown + $5k appreciation (6.6% local appreciation)).
• Location reads 50/100 on livability (#1,500 in TX) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: health & safety C-, schools F, amenities F.
• Carrizo Springs CISD (town): math 17% / reading 25% proficiency, ranked #780 of 826 in TX (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 41 active listings in the ZIP; 4 units permitted in Dimmit County in 2024 (0 in 5+ unit buildings).
• Dimmit County population projected at +48% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (6.6% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wind risk, 72% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• 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.