1015 N Bridge St

Henrietta, TX 76365

$33,000B

3 bd · 1.0 ba · 760 sqft · Built 1950 · SingleFamily · Active · 112 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $990/mo
• Mortgage (P&I): −$173
• Tax + insurance: −$62
• HOA: −$0
• Vac / Maint / Mgmt: −$208
• Net cashflow: $547/mo
• Annual: $6,567/yr
• Cap rate: 26.19%
• Cash-on-cash: 71.07%
• DSCR: 4.16
• 1% rule: 3.00%
• Cash to close: $9,240

Investor read

• This is a 3-bed/1.0-bath single-family listed at $33k.
• At list price, monthly cash flow is $547 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($990 rent vs $33k).
• It's been on market 112 days — a 9% lower offer ($30k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $30k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $228 of loan paydown is wiped out by about $990 of value loss. Plan a longer hold.
• Location reads 70/100 on livability (#379 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Henrietta ISD (rural): math 47% / reading 48% proficiency, ranked #219 of 826 in TX (top 26%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Henrietta El (math 47% / reading 47%, grade D-, #1,006 of 4,322 statewide, top 25%, 481 students, 53% FRL); Henrietta Middle (math 50% / reading 43%, grade D+, #443 of 1,662 statewide, top 28%, 226 students, 48% FRL); Henrietta H S (math 37% / reading 72%, grade C-, #379 of 1,632 statewide, top 26%, 287 students, 36% FRL).
• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 76 active listings in the ZIP; 13 units permitted in Clay County in 2024 (0 in 5+ unit buildings).
• Clay County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $9k cash investment doubles in ~2 years — after that, you're playing with house money.
• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 26.2% vs local median 3.3% in Henrietta — 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

• It's been on market 112 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• 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.