1223 Old Ida Rd St

Tom Bean, TX 75090

$244,900D

4 bd · 2.0 ba · 1,791 sqft · Built 2025 · Land · Active · 48 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,861/mo
• Mortgage (P&I): −$1,284
• Tax + insurance: −$186
• HOA: −$0
• Vac / Maint / Mgmt: −$391
• Net cashflow: $0/mo
• Annual: $4/yr
• Cap rate: 6.29%
• Cash-on-cash: 0.01%
• DSCR: 1.00
• 1% rule: 0.76%
• Cash to close: $68,572

Investor read

• This is a 4-bed/2.0-bath land listed at $245k.
• At list price, monthly cash flow is $0 ($4/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 $186k (24.0% below list).
• It's been on market 48 days — a 3% lower offer ($238k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $186k (24.0% 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 68/100 on livability (#496 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Tom Bean ISD (rural): math 46% / reading 46% proficiency, ranked #230 of 826 in TX (top 28%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Tom Bean El (math 62% / reading 52%, grade C+, #505 of 4,322 statewide, top 13%, 319 students, 49% FRL); Tom Bean Middle (math 37% / reading 42%, grade F, #660 of 1,662 statewide, top 41%, 136 students, 46% FRL); Tom Bean H S (math 27% / reading 47%, grade F, #897 of 1,632 statewide, top 57%, 211 students, 39% FRL).
• Market conditions: Rents soft (-2.7%/yr); 479 active listings in the ZIP; 2,272 units permitted in Grayson County in 2024 (750 in 5+ unit buildings).
• Grayson County population projected at +12% 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.
• This rent runs 40% of the median local income ($56k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 48 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.