2313 White Wing

Navasota, TX 77845

$237,605D-

3 bd · 2.0 ba · 1,540 sqft · Built 2026 · SingleFamily · Pending · 84 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,106/mo
• Mortgage (P&I): −$1,246
• Tax + insurance: −$396
• HOA: −$42
• Vac / Maint / Mgmt: −$442
• Net cashflow: $-20/mo
• Annual: $-240/yr
• Cap rate: 6.19%
• Cash-on-cash: -0.36%
• DSCR: 0.98
• 1% rule: 0.89%
• Cash to close: $66,529

Investor read

• This is a 3-bed/2.0-bath single-family listed at $238k. Condition is rated fair.
• At list price, monthly cash flow is $-20 ($-240/yr) — negative.
• To cash-flow at today's rent, offer at most $235k (1.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $211k (11.3% below list).
• It's been on market 84 days — a 6% lower offer ($223k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $211k (11.3% below list) — sets the bar for 1% rule.
• 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 63/100 on livability (#852 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools F, crime F, amenities F.
• Navasota ISD (town): math 31% / reading 31% proficiency, ranked #600 of 826 in TX (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+3.1%/yr); 1168 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 110 units permitted in Grimes County in 2024 (0 in 5+ unit buildings).
• Grimes County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 2 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.
• Cap rate 6.2% vs local median 3.8% in Navasota — 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

• 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?
• It's been on market 84 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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?

Repairs flagged (vision-AI assessment)

• Major: Exterior walls — Plywood covering indicates structural work is incomplete.
• Major: Roof — Plywood covering indicates structural work is incomplete.
• Major: Flooring — Plywood covering indicates structural work is incomplete.
• Major: Interior walls — Plywood covering indicates structural work is incomplete.
• Major: Kitchen — Plywood covering indicates structural work is incomplete.
• Major: Bathrooms — Plywood covering indicates structural work is incomplete.