905 10th St

Ralls, TX 79357

$119,900C-

3 bd · 2.0 ba · 2,094 sqft · Built 1952 · SingleFamily · Active · 47 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,194/mo
• Mortgage (P&I): −$629
• Tax + insurance: −$200
• HOA: −$0
• Vac / Maint / Mgmt: −$251
• Net cashflow: $114/mo
• Annual: $1,368/yr
• Cap rate: 7.43%
• Cash-on-cash: 4.07%
• DSCR: 1.18
• 1% rule: 1.00%
• Cash to close: $33,572

Investor read

• This is a 3-bed/2.0-bath single-family listed at $120k.
• At list price, monthly cash flow is $114 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $119k (0.4% below list).
• It's been on market 47 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 $4k of equity ($829 loan paydown + $4k appreciation (3.0% local appreciation)).
• Location reads 65/100 on livability (#685 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: health & safety C-, amenities F, commute F.
• Ralls ISD (rural): math 23% / reading 26% proficiency, ranked #728 of 826 in TX (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Ralls El (math 22% / reading 27%, grade F, #3,052 of 4,322 statewide, top 74%, 192 students, 88% FRL); Ralls Middle (math 27% / reading 27%, grade F, #1,177 of 1,662 statewide, top 72%, 108 students, 79% FRL); Ralls H S (math 5% / reading 15%, grade F, #1,566 of 1,632 statewide, top 97%, 153 students, 75% FRL).
• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 19 active listings in the ZIP.
• Crosby County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 47 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1952 — 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.