1003 Brooks St

New Boston, TX 75570

$57,200B-

3 bd · 2.0 ba · 1,360 sqft · Built — · SingleFamily · Active · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,291/mo
• Mortgage (P&I): −$300
• Tax + insurance: −$92
• HOA: −$0
• Vac / Maint / Mgmt: −$271
• Net cashflow: $628/mo
• Annual: $7,536/yr
• Cap rate: 19.47%
• Cash-on-cash: 47.05%
• DSCR: 3.09
• 1% rule: 2.26%
• Cash to close: $16,016

Investor read

• This is a 3-bed/2.0-bath single-family listed at $57k.
• At list price, monthly cash flow is $628 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $57k).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $395 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 59/100 on livability (#1,178 in TX) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, health & safety A-; Watch: crime F, amenities F, commute F.
• New Boston ISD (town): math 34% / reading 37% proficiency, ranked #518 of 826 in TX (top 63%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Crestview El (math 30% / reading 29%, grade F, #2,525 of 4,322 statewide, top 62%, 584 students, 82% FRL); New Boston Middle (math 43% / reading 43%, grade D-, #540 of 1,662 statewide, top 33%, 249 students, 81% FRL); New Boston H S (math 17% / reading 42%, grade F, #1,112 of 1,632 statewide, top 70%, 321 students, 64% FRL) — zoned schools average 76% FRL vs 54% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 90 active listings in the ZIP; 137 units permitted in Bowie County in 2024 (5 in 5+ unit buildings).
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $16k cash investment doubles in ~3 years — after that, you're playing with house money.
• Climate carrying-cost: extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.