124 County Road 466

Ben Bolt, TX 78332

$68,235B-

3 bd · 1.0 ba · 1,800 sqft · Built 1935 · SingleFamily · Active · 286 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,452/mo
• Mortgage (P&I): −$358
• Tax + insurance: −$81
• HOA: −$0
• Vac / Maint / Mgmt: −$305
• Net cashflow: $709/mo
• Annual: $8,508/yr
• Cap rate: 18.76%
• Cash-on-cash: 44.53%
• DSCR: 2.98
• 1% rule: 2.13%
• Cash to close: $19,106

Investor read

• This is a 3-bed/1.0-bath single-family listed at $68k. Condition is rated poor.
• At list price, monthly cash flow is $709 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $68k).
• It's been on market 286 days — a 12% lower offer ($60k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $60k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $472 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Ben Bolt-Palito Blanco ISD (rural): math 22% / reading 36% proficiency, ranked #639 of 826 in TX (top 77%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 220 active listings in the ZIP; 6 units permitted in Jim Wells County in 2024 (0 in 5+ unit buildings).
• Jim Wells County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~3 years — after that, you're playing with house money.
• Climate carrying-cost: moderate flood risk; severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; 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 286 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 1935 — 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.
• 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)

• Major: Exposed framing in kitchen and bathrooms — Structural integrity compromised
• Major: Missing cabinets and countertops in kitchen — Basic functionality lost
• Major: Exposed drywall and missing paint in interior walls — Safety hazard and aesthetic issue
• Major: Weathered siding and missing trim — Structural integrity and aesthetics compromised
• Major: Exposed subfloor and missing flooring — Safety hazard and aesthetic issue
• Major: Broken glass in windows — Safety hazard