9616 Verite St

Saginaw, TX 76179

$253,999D

3 bd · 2.0 ba · 1,402 sqft · Built 2025 · SingleFamily · Pending · 37 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,218/mo
• Mortgage (P&I): −$1,332
• Tax + insurance: −$423
• HOA: −$42
• Vac / Maint / Mgmt: −$466
• Net cashflow: $-45/mo
• Annual: $-540/yr
• Cap rate: 6.08%
• Cash-on-cash: -0.76%
• DSCR: 0.97
• 1% rule: 0.87%
• Cash to close: $71,120

Investor read

• This is a 3-bed/2.0-bath single-family listed at $254k. Condition is rated excellent.
• At list price, monthly cash flow is $-45 ($-540/yr) — negative.
• To cash-flow at today's rent, offer at most $247k (2.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $222k (12.7% below list).
• It's been on market 37 days — a 3% lower offer ($246k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $222k (12.7% 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 $8k of value loss. Plan a longer hold.
• Location reads 76/100 on livability (#112 in TX, #3,623 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Eagle Mt-Saginaw ISD (urban): math 35% / reading 42% proficiency, ranked #361 of 826 in TX (top 44%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Eagle Mountain El (math 40% / reading 42%, grade F, #1,462 of 4,322 statewide, top 34%, 507 students, 19% FRL); Prairie Vista (math 33% / reading 40%, grade F, #786 of 1,662 statewide, top 48%, 923 students, 52% FRL); Chisholm Trail H S (math 27% / reading 55%, grade F, #774 of 1,632 statewide, top 49%, 2,493 students, 48% FRL) — zoned schools at 40% FRL track the district average.
• Market conditions: Rents rising (+1.5%/yr); 1074 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 9d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 18,938 units permitted in Tarrant County in 2024 (8,336 in 5+ unit buildings).
• Tarrant County population projected at +41% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Cap rate 6.1% vs local median 4.2% in Saginaw — 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.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 37 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• 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.