13929 Eagle Pass St

Cloverleaf, TX 77015

$171,000B-

4 bd · 2.0 ba · 2,346 sqft · Built 2016 · MultiFamily · Active · 138 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,374/mo
• Mortgage (P&I): −$897
• Tax + insurance: −$476
• HOA: −$0
• Vac / Maint / Mgmt: −$499
• Net cashflow: $503/mo
• Annual: $6,035/yr
• Cap rate: 9.82%
• Cash-on-cash: 12.60%
• DSCR: 1.56
• 1% rule: 1.39%
• Cash to close: $47,880

Investor read

• This is a 4-bed/2.0-bath multifamily listed at $171k.
• At list price, monthly cash flow is $503 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $171k).
• It's been on market 138 days — a 12% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $150k (12.0% 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 $5k of value loss. Plan a longer hold.
• Location reads 63/100 on livability (#886 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools F, crime F, amenities F.
• Galena Park ISD (suburban): math 32% / reading 33% proficiency, ranked #578 of 826 in TX (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Watch-outs: property tax is 2.8% of price.
• Market conditions: Rents soft (-0.8%/yr); 164 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 80% of comp listings sitting > 30 days — soft ceiling on asking rent; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• Harris County population projected at +47% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 3 sale attempts; this cycle's ask is 11300% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $40k; list at $171k implies a 328% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 9.8% vs local median 3.8% in Cloverleaf — 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.
• At $2,374/mo this rent would consume 49% of the median local household income ($58k/yr) (locally 1816% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• It's been on market 138 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• 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 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?
• 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?
• 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.