513 E Conner St

Eastland, TX 76448

$135,000D

3 bd · 1.0 ba · 1,458 sqft · Built 1950 · SingleFamily · Pending · 291 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,065/mo
• Mortgage (P&I): −$708
• Tax + insurance: −$214
• HOA: −$0
• Vac / Maint / Mgmt: −$224
• Net cashflow: $-81/mo
• Annual: $-968/yr
• Cap rate: 5.58%
• Cash-on-cash: -2.56%
• DSCR: 0.89
• 1% rule: 0.79%
• Cash to close: $37,800

Investor read

• This is a 3-bed/1.0-bath single-family listed at $135k.
• At list price, monthly cash flow is $-81 ($-968/yr) — negative.
• To cash-flow at today's rent, offer at most $121k (10.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $106k (21.1% below list).
• It's been on market 291 days — a 12% lower offer ($119k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $106k (21.1% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 76/100 on livability (#104 in TX, #3,483 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F, employment F.
• Eastland ISD (town): math 45% / reading 41% proficiency, ranked #349 of 826 in TX (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Siebert El (math 49% / reading 43%, grade D-, #1,097 of 4,322 statewide, top 26%, 491 students, 65% FRL); Eastland Middle (math 41% / reading 36%, grade F, #704 of 1,662 statewide, top 43%, 257 students, 59% FRL); Eastland H S (math 42% / reading 47%, grade F, #652 of 1,632 statewide, top 43%, 309 students, 57% FRL).
• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 84 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 10 units permitted in Eastland County in 2024 (0 in 5+ unit buildings).
• Eastland County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 4 sale attempts since 16y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Climate carrying-cost: major wind risk, 27% 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.
• Cap rate 5.6% vs local median 3.1% in Eastland — 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

• 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 291 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
• Built in 1950 — 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?
• 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.