None

Three Rivers, TX 78071

$97,100C+

2 bd · 1.0 ba · 720 sqft · Built 1980 · SingleFamily · Pending · 44 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,217/mo
• Mortgage (P&I): −$509
• Tax + insurance: −$160
• HOA: −$0
• Vac / Maint / Mgmt: −$256
• Net cashflow: $292/mo
• Annual: $3,501/yr
• Cap rate: 9.90%
• Cash-on-cash: 12.88%
• DSCR: 1.57
• 1% rule: 1.25%
• Cash to close: $27,188

Investor read

• This is a 2-bed/1.0-bath single-family listed at $97k.
• At list price, monthly cash flow is $292 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $97k).
• It's been on market 44 days — a 3% lower offer ($94k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $94k (3.0% below list) — sets the bar for market timing.
• In year one you build about $4k of equity ($671 loan paydown + $4k appreciation (3.8% local appreciation)).
• Location reads 76/100 on livability (#118 in TX, #3,769 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment D-.
• Three Rivers ISD (rural): math 46% / reading 42% proficiency, ranked #287 of 826 in TX (top 35%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Three Rivers El (math 52% / reading 42%, grade D-, #1,006 of 4,322 statewide, top 25%, 318 students, 68% FRL); Three Rivers Jr/Sr H S (math 37% / reading 42%, grade F, #821 of 1,632 statewide, top 53%, 267 students, 57% FRL).
• Market conditions: 58 active listings in the ZIP; 12 units permitted in Live Oak County in 2024 (0 in 5+ unit buildings).
• Live Oak County population projected at +33% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 4 sale attempts since 6y ago 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.
• Current owner paid $24k; list at $97k implies a 296% gain — meaningful room to come down on a strong offer.
• At projected returns (3.8% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~4 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.
• Climate carrying-cost: moderate flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/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 44 days. Have you received any prior offers? Is the seller open to a 3% 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.
• 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?
• 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.