1413 S Harvard St

Perryton, TX 79070

$110,000D+

3 bd · 2.0 ba · 1,399 sqft · Built 1961 · SingleFamily · Active · 79 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,152/mo
• Mortgage (P&I): −$577
• Tax + insurance: −$237
• HOA: −$0
• Vac / Maint / Mgmt: −$242
• Net cashflow: $96/mo
• Annual: $1,155/yr
• Cap rate: 7.34%
• Cash-on-cash: 3.75%
• DSCR: 1.17
• 1% rule: 1.05%
• Cash to close: $30,800

Investor read

• This is a 3-bed/2.0-bath single-family listed at $110k.
• At list price, monthly cash flow is $96 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• It's been on market 79 days — a 6% lower offer ($103k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $103k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $761 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 76/100 on livability (#97 in TX, #3,326 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, amenities D+, commute F.
• Perryton ISD (town): math 53% / reading 47% proficiency, ranked #186 of 826 in TX (top 22%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: James L Wright El (math 37% / reading 42%, grade F, #1,545 of 4,322 statewide, top 38%, 471 students, 67% FRL); Perryton J H (math 53% / reading 48%, grade C, #333 of 1,662 statewide, top 21%, 436 students, 58% FRL); Perryton H S (math 62% / reading 57%, grade C+, #275 of 1,632 statewide, top 19%, 620 students, 56% FRL).
• Market conditions: 42 active listings in the ZIP; 4 units permitted in Ochiltree County in 2024 (0 in 5+ unit buildings).
• Ochiltree County population projected at +31% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 79 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1961 — 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 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?
• 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.