1400 S Concho St

Coleman, TX 76834

$32,900B+

1 bd · 1.0 ba · 1,784 sqft · Built 1950 · SingleFamily · Active · 17 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $905/mo
• Mortgage (P&I): −$173
• Tax + insurance: −$55
• HOA: −$0
• Vac / Maint / Mgmt: −$190
• Net cashflow: $488/mo
• Annual: $5,855/yr
• Cap rate: 24.09%
• Cash-on-cash: 63.55%
• DSCR: 3.83
• 1% rule: 2.75%
• Cash to close: $9,212

Investor read

• This is a 1-bed/1.0-bath single-family listed at $33k. Condition is rated poor.
• At list price, monthly cash flow is $488 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($905 rent vs $33k).
• It's been on market 17 days — a 2% lower offer ($32k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $32k (1.5% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($227 loan paydown + $2k appreciation (5.7% local appreciation)).
• Location reads 68/100 on livability (#454 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety D+, amenities F, commute F.
• Coleman ISD (town): math 42% / reading 39% proficiency, ranked #439 of 826 in TX (top 53%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Coleman El (math 32% / reading 27%, grade F, #2,525 of 4,322 statewide, top 62%, 339 students, 69% FRL); Coleman J H (math 47% / reading 45%, grade D+, #462 of 1,662 statewide, top 28%, 252 students, 56% FRL); Coleman H S (math 44% / reading 42%, grade F, #708 of 1,632 statewide, top 44%, 203 students, 42% FRL) — zoned schools at 56% FRL track the district average.
• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 120 active listings in the ZIP; 5 units permitted in Coleman County in 2024 (0 in 5+ unit buildings).
• Coleman County population projected at -28% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 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.
• At projected returns (5.7% appreciation + 3.0% rent growth), your $9k cash investment doubles in ~2 years — after that, you're playing with house money.
• Cap rate 24.1% vs local median 4.5% in Coleman — 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

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• 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?
• 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.

Repairs flagged (vision-AI assessment)

• Major: exterior paint — Peeling paint indicates significant deterioration
• Major: windows — Broken windows suggest structural damage
• Major: roof — Visible damage to the roof