701 Perry

Santa Anna, TX 76878

$90,000D

3 bd · 1.5 ba · 1,092 sqft · Built 1955 · SingleFamily · Active · 406 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,042/mo
• Mortgage (P&I): −$472
• Tax + insurance: −$321
• HOA: −$0
• Vac / Maint / Mgmt: −$219
• Net cashflow: $31/mo
• Annual: $368/yr
• Cap rate: 6.70%
• Cash-on-cash: 1.46%
• DSCR: 1.06
• 1% rule: 1.16%
• Cash to close: $25,200

Investor read

• This is a 3-bed/1.5-bath single-family listed at $90k.
• At list price, monthly cash flow is $31 ($368/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• It's been on market 406 days — a 12% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $79k (12.0% below list) — sets the bar for market timing.
• In year one you build about $232 of equity ($622 loan paydown + $-390 appreciation (-0.4% local appreciation)).
• Location reads 69/100 on livability (#444 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety D+, amenities F, commute F.
• Santa Anna ISD (rural): math 50% / reading 40% proficiency, ranked #582 of 1,141 in TX (top 51%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Santa Anna El (math 17% / reading 22%, grade F, #3,583 of 4,322 statewide, top 86%, 155 students, 99% FRL); Santa Anna Secondary (math 32% / reading 42%, grade F, #897 of 1,632 statewide, top 57%, 115 students, 100% FRL) — zoned schools average 100% FRL vs 61% district-wide (39 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 28% at this address vs 45% district-wide (-17 pts) — the specific schools serving this property underperform the Santa Anna ISD average; the district grade overstates school quality for this exact location.
• Watch-outs: property tax is 3.8% of price; built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 22 active listings in the ZIP; 5 units permitted in Coleman County in 2024 (0 in 5+ unit buildings).
• Coleman County population projected at -28% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Questions for listing agent

• It's been on market 406 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1955 — 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.
• 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.