1708 Texas Dr

Glen Rose, TX 76043

$233,500C

3 bd · 2.0 ba · 2,410 sqft · Built 2001 · SingleFamily · Pending · 29 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,499/mo
• Mortgage (P&I): −$1,224
• Tax + insurance: −$494
• HOA: −$0
• Vac / Maint / Mgmt: −$525
• Net cashflow: $256/mo
• Annual: $3,068/yr
• Cap rate: 7.61%
• Cash-on-cash: 4.69%
• DSCR: 1.21
• 1% rule: 1.07%
• Cash to close: $65,380

Investor read

• This is a 3-bed/2.0-bath single-family listed at $234k.
• At list price, monthly cash flow is $256 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $234k).
• It's been on market 29 days — a 2% lower offer ($230k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $230k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 73/100 on livability (#231 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.
• Glen Rose ISD (rural): math 51% / reading 56% proficiency, ranked #126 of 826 in TX (top 15%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Glen Rose El (476 students, 52% FRL); Glen Rose J H School (math 44% / reading 49%, grade D+, #443 of 1,662 statewide, top 28%, 463 students, 41% FRL); Glen Rose H S (math 57% / reading 67%, grade B-, #237 of 1,632 statewide, top 16%, 587 students, 34% FRL) — zoned schools at 42% FRL track the district average.
• Market conditions: 150 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 43 units permitted in Somervell County in 2024 (10 in 5+ unit buildings).
• Somervell County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 10 sale attempts since 19y 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; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 7.6% vs local median 2.9% in Glen Rose — 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

• 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.