400 Adell Cir

Garner, TX 76088

$539,000D+

4 bd · 3.0 ba · 2,482 sqft · Built 2021 · Land · Active · 40 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $5,000/mo
• Mortgage (P&I): −$2,827
• Tax + insurance: −$564
• HOA: −$0
• Vac / Maint / Mgmt: −$1,050
• Net cashflow: $560/mo
• Annual: $6,715/yr
• Cap rate: 7.54%
• Cash-on-cash: 4.45%
• DSCR: 1.20
• 1% rule: 0.93%
• Cash to close: $150,920

Investor read

• This is a 4-bed/3.0-bath land listed at $539k.
• At list price, monthly cash flow is $560 ($7k/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 $500k (7.2% below list).
• It's been on market 40 days — a 3% lower offer ($523k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $500k (7.2% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $16k of value loss. Plan a longer hold.
• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Peaster ISD (rural): math 45% / reading 51% proficiency, ranked #168 of 826 in TX (top 20%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Peaster El (math 43% / reading 45%, grade F, #1,243 of 4,322 statewide, top 29%, 862 students, 27% FRL); Peaster J H (math 47% / reading 49%, grade C-, #400 of 1,662 statewide, top 24%, 382 students, 34% FRL); Peaster H S (math 47% / reading 72%, grade C+, #275 of 1,632 statewide, top 19%, 506 students, 23% FRL) — zoned schools at 28% FRL track the district average.
• Market conditions: 315 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 437 units permitted in Parker County in 2024 (0 in 5+ unit buildings).
• Parker County population projected at +32% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 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.

Questions for listing agent

• It's been on market 40 days. Have you received any prior offers? Is the seller open to a 7% 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.