290 E Aurora St

Rhome, TX 76078

$339,000D-

3 bd · 3.0 ba · 2,003 sqft · Built 2022 · SingleFamily · Active · 23 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,275/mo
• Mortgage (P&I): −$1,778
• Tax + insurance: −$728
• HOA: −$0
• Vac / Maint / Mgmt: −$478
• Net cashflow: $-708/mo
• Annual: $-8,498/yr
• Cap rate: 3.79%
• Cash-on-cash: -8.95%
• DSCR: 0.60
• 1% rule: 0.67%
• Cash to close: $94,920

Investor read

• This is a 3-bed/3.0-bath single-family listed at $339k.
• At list price, monthly cash flow is $-708 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $214k (36.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $228k (32.9% below list).
• It's been on market 23 days — a 2% lower offer ($334k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $214k (36.9% below list) — sets the bar for cash-flow.
• In year one you build about $36k of equity ($2k loan paydown + $34k appreciation (10.0% local appreciation)).
• Location reads 74/100 on livability (#165 in TX, #4,376 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: amenities F, commute F.
• Northwest ISD (rural): math 48% / reading 52% proficiency, ranked #120 of 826 in TX (top 14%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Prairie View El (math 21% / reading 27%, grade F, #3,221 of 4,322 statewide, top 75%, 631 students, 54% FRL) — zoned schools average 54% FRL vs 22% district-wide (32 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 24% at this address vs 50% district-wide (-26 pts) — the specific schools serving this property underperform the Northwest ISD average; the district grade overstates school quality for this exact location.
• Market conditions: 262 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 460 units permitted in Wise County in 2024 (243 in 5+ unit buildings).
• Wise County population projected at +27% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 5 sale attempts 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.
• By year 2, paydown + projected appreciation supports a ~$58k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• 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.
• 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.