872 PR Anthony

Lubbock, TX 79363

$170,000D+

1 bd · 2.0 ba · 800 sqft · Built 2023 · SingleFamily · Active · 179 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,484/mo
• Mortgage (P&I): −$891
• Tax + insurance: −$412
• HOA: −$0
• Vac / Maint / Mgmt: −$312
• Net cashflow: $-131/mo
• Annual: $-1,570/yr
• Cap rate: 5.37%
• Cash-on-cash: -3.30%
• DSCR: 0.85
• 1% rule: 0.87%
• Cash to close: $47,600

Investor read

• This is a 1-bed/2.0-bath single-family listed at $170k. Condition is rated good.
• At list price, monthly cash flow is $-131 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $147k (13.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $148k (12.7% below list).
• It's been on market 179 days — a 12% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $147k (13.6% below list) — sets the bar for cash-flow.
• In year one you build about $18k of equity ($1k loan paydown + $17k appreciation (10.0% local appreciation)).
• Location reads 80/100 on livability (#37 in TX, #1,749 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: employment C-, schools D+, crime F.
• Frenship ISD (urban): math 47% / reading 54% proficiency, ranked #162 of 826 in TX (top 20%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 116 active listings in the ZIP; 7 units permitted in Hockley County in 2024 (0 in 5+ unit buildings).
• Hockley County population projected at +21% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts; this cycle's ask has dropped $40k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• By year 3, paydown + projected appreciation supports a ~$46k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

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 179 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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?
• Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.

Repairs flagged (vision-AI assessment)

• Minor: Insulation — Insulation is present but not yet installed
• Minor: Ceiling — Ceiling is unfinished
• Minor: Walls — Walls are unfinished
• Minor: Flooring — Flooring is unfinished