10610 State Highway 185

Bloomington, TX 77905

$147,500D+

3 bd · 2.0 ba · 1,545 sqft · Built 1950 · SingleFamily · Pending · 49 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,600/mo
• Mortgage (P&I): −$774
• Tax + insurance: −$291
• HOA: −$0
• Vac / Maint / Mgmt: −$336
• Net cashflow: $199/mo
• Annual: $2,390/yr
• Cap rate: 7.91%
• Cash-on-cash: 5.79%
• DSCR: 1.26
• 1% rule: 1.08%
• Cash to close: $41,300

Investor read

• This is a 3-bed/2.0-bath single-family listed at $148k.
• At list price, monthly cash flow is $199 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $148k).
• It's been on market 49 days — a 3% lower offer ($143k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $143k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 59/100 on livability (#1,163 in TX) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime B+; Watch: health & safety C-, amenities F, commute F.
• Bloomington ISD (rural): math 10% / reading 18% proficiency, ranked #814 of 826 in TX (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Bloomington El (math 8% / reading 12%, grade F, #4,259 of 4,322 statewide, top 99%, 265 students, 91% FRL); Bloomington J H (math 2% / reading 17%, grade F, #1,646 of 1,662 statewide, top 99%, 195 students, 84% FRL); Bloomington H S (math 22% / reading 32%, grade F, #1,204 of 1,632 statewide, top 75%, 239 students, 73% FRL).
• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 148 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 43 units permitted in Victoria County in 2024 (0 in 5+ unit buildings).
• Victoria County population projected at +34% 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.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/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 49 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1950 — 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?
• 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.