108 E 9th St

Amherst, TX 79312

$120,000B+

3 bd · 2.0 ba · 2,028 sqft · Built 1965 · SingleFamily · Active · 41 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,195/mo
• Mortgage (P&I): −$629
• Tax + insurance: −$204
• HOA: −$0
• Vac / Maint / Mgmt: −$461
• Net cashflow: $900/mo
• Annual: $10,806/yr
• Cap rate: 15.30%
• Cash-on-cash: 32.16%
• DSCR: 2.43
• 1% rule: 1.83%
• Cash to close: $33,600

Investor read

• This is a 3-bed/2.0-bath single-family listed at $120k.
• At list price, monthly cash flow is $900 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• It's been on market 41 days — a 3% lower offer ($116k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $116k (3.0% below list) — sets the bar for market timing.
• In year one you build about $6k of equity ($830 loan paydown + $5k appreciation (4.6% local appreciation)).
• Location reads 64/100 on livability (#767 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: health & safety C-, employment D, schools F.
• Amherst ISD (rural): math 30% / reading 30% proficiency, ranked #1,012 of 1,141 in TX (top 89%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 2 active listings in the ZIP.
• Lamb County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.6% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 41 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• 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.