4950 Greenslope Dr Unit 4950, 4952, 4954, 4956

Abilene, TX 79606

$825,000C+

12 bd · 8.0 ba · 6,432 sqft · Built 1978 · MultiFamily · Active · 98 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $10,054/mo
• Mortgage (P&I): −$4,326
• Tax + insurance: −$1,375
• HOA: −$0
• Vac / Maint / Mgmt: −$2,111
• Net cashflow: $2,241/mo
• Annual: $26,895/yr
• Cap rate: 9.55%
• Cash-on-cash: 11.64%
• DSCR: 1.52
• 1% rule: 1.22%
• Cash to close: $231,000

Investor read

• This is a 4 × 3-bed/2.0-bath units multifamily listed at $825k. Condition is rated fair.
• At list price, monthly cash flow is $2k ($27k/yr) — positive. Per door: $560/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($10k rent vs $825k).
• It's been on market 98 days — a 9% lower offer ($751k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $751k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $6k of loan paydown is wiped out by about $25k of value loss. Plan a longer hold.
• Location reads 75/100 on livability (#142 in TX, #4,037 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D+, crime D, commute F.
• Abilene ISD (urban): math 32% / reading 34% proficiency, ranked #575 of 826 in TX (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+40.7%/yr); 288 active listings in the ZIP; solid renter incomes; 508 units permitted in Taylor County in 2024 (0 in 5+ unit buildings).
• Taylor County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $231k cash investment doubles in ~7 years — after that, you're playing with house money.
• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 9.6% vs local median 6.7% in Abilene — 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.
• At $10,054/mo this rent would consume 152% of the median local household income ($79k/yr) (locally 1181% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• It's been on market 98 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 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?

Repairs flagged (vision-AI assessment)

• Moderate: Exterior walls — Weathered and discolored
• Moderate: Roof inspection — May need inspection for potential issues