3220 Cross Shore Dr

Anna, TX 75409

$329,990D-

4 bd · 2.0 ba · 1,871 sqft · Built 2026 · Other · Pending · 62 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,398/mo
• Mortgage (P&I): −$1,731
• Tax + insurance: −$238
• HOA: −$90
• Vac / Maint / Mgmt: −$504
• Net cashflow: $-164/mo
• Annual: $-1,967/yr
• Cap rate: 5.70%
• Cash-on-cash: -2.13%
• DSCR: 0.91
• 1% rule: 0.73%
• Cash to close: $92,397

Investor read

• This is a 4-bed/2.0-bath other listed at $330k.
• At list price, monthly cash flow is $-164 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $301k (8.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $240k (27.3% below list).
• It's been on market 62 days — a 6% lower offer ($310k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $240k (27.3% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Location reads 75/100 on livability (#127 in TX, #3,880 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: amenities F, commute F.
• Anna ISD (rural): math 44% / reading 41% proficiency, ranked #271 of 826 in TX (top 33%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Sue Evelyn Rattan El (math 45% / reading 41%, grade F, #1,283 of 4,322 statewide, top 30%, 655 students, 51% FRL); Anna Middle (math 39% / reading 37%, grade F, #717 of 1,662 statewide, top 44%, 1,089 students, 51% FRL); Anna H S (math 58% / reading 57%, grade C, #327 of 1,632 statewide, top 20%, 1,405 students, 52% FRL).
• Market conditions: Rents soft (-1.9%/yr); 1205 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 19,194 units permitted in Collin County in 2024 (3,988 in 5+ unit buildings).
• Collin County population projected at +60% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 3 sale attempts; this cycle's ask has dropped $52k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Climate carrying-cost: moderate wind risk, 26% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.7% vs local median 3.6% in Anna — 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

• 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 62 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.