149 Patriot Dr

Whitney, TX 76692

$81,000C+

1 bd · 1.0 ba · 607 sqft · Built 2024 · Other · Active · 9 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $990/mo
• Mortgage (P&I): −$425
• Tax + insurance: −$135
• HOA: −$0
• Vac / Maint / Mgmt: −$208
• Net cashflow: $222/mo
• Annual: $2,667/yr
• Cap rate: 9.59%
• Cash-on-cash: 11.76%
• DSCR: 1.52
• 1% rule: 1.22%
• Cash to close: $22,680

Investor read

• This is a 1-bed/1.0-bath other listed at $81k. Condition is rated poor.
• At list price, monthly cash flow is $222 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($990 rent vs $81k).
• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $560 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 71/100 on livability (#282 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A-; Watch: schools D, amenities F, commute F.
• Whitney ISD (rural): math 42% / reading 41% proficiency, ranked #378 of 826 in TX (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 638 active listings in the ZIP; 65 units permitted in Hill County in 2024 (0 in 5+ unit buildings).
• Hill County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $23k cash investment doubles in ~10 years — after that, you're playing with house money.
• Cap rate 9.6% vs local median 3.0% in Whitney — 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

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• 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.

Repairs flagged (vision-AI assessment)

• Major: roof — The independent image shows a metal port structure, which appears to be the roof. The structure looks aged and possibly rusted, indicating poor condition.
• Major: exterior — The independent image shows a metal port structure with a concrete slab. The concrete slab appears to be in fair condition, but the overall exterior structure looks aged and possibly in need of maintenance.
• Major: landscaping — No landscaping is visible in the photos, but the listing mentions a large storage area and a mini split HVAC system, which may need maintenance or replacement based on the monthly electric bill.