121 Lauryn St

Three Rivers, TX 78071

$155,000C

3 bd · 3.0 ba · 1,104 sqft · Built 1994 · SingleFamily · Active · 17 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,448/mo
• Mortgage (P&I): −$813
• Tax + insurance: −$176
• HOA: −$0
• Vac / Maint / Mgmt: −$304
• Net cashflow: $155/mo
• Annual: $1,865/yr
• Cap rate: 7.50%
• Cash-on-cash: 4.30%
• DSCR: 1.19
• 1% rule: 0.93%
• Cash to close: $43,400

Investor read

• This is a 3-bed/3.0-bath single-family listed at $155k.
• At list price, monthly cash flow is $155 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $145k (6.6% below list).
• It's been on market 17 days — a 2% lower offer ($153k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $145k (6.6% below list) — sets the bar for 1% rule.
• In year one you build about $7k of equity ($1k loan paydown + $6k appreciation (3.8% local appreciation)).
• Location reads 76/100 on livability (#118 in TX, #3,769 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment D-.
• Three Rivers ISD (rural): math 46% / reading 42% proficiency, ranked #287 of 826 in TX (top 35%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Three Rivers El (math 52% / reading 42%, grade D-, #1,006 of 4,322 statewide, top 25%, 318 students, 68% FRL); Three Rivers Jr/Sr H S (math 37% / reading 42%, grade F, #821 of 1,632 statewide, top 53%, 267 students, 57% FRL).
• Market conditions: 56 active listings in the ZIP; 12 units permitted in Live Oak County in 2024 (0 in 5+ unit buildings).
• Live Oak County population projected at +33% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 3 sale attempts since 3y 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.
• At projected returns (3.8% appreciation + 3.0% rent growth), your $43k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

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 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?
• 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.