1902 Ksny Dr

Snyder, TX 79549

$41,000B-

2 bd · 1.0 ba · 1,002 sqft · Built 1950 · SingleFamily · Pending · 12 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,000/mo
• Mortgage (P&I): −$215
• Tax + insurance: −$107
• HOA: −$0
• Vac / Maint / Mgmt: −$210
• Net cashflow: $468/mo
• Annual: $5,617/yr
• Cap rate: 19.99%
• Cash-on-cash: 48.92%
• DSCR: 3.18
• 1% rule: 2.44%
• Cash to close: $11,480

Investor read

• This is a 2-bed/1.0-bath single-family listed at $41k.
• At list price, monthly cash flow is $468 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $41k).
• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $283 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 61/100 on livability (#1,008 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, employment D+, crime F.
• Snyder ISD (town): math 33% / reading 31% proficiency, ranked #577 of 826 in TX (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Snyder Int (math 42% / reading 28%, grade F, #1,965 of 4,322 statewide, top 46%, 362 students, 70% FRL); Snyder J H (math 24% / reading 27%, grade F, #1,236 of 1,662 statewide, top 76%, 594 students, 74% FRL); Snyder H S (math 27% / reading 40%, grade F, #1,011 of 1,632 statewide, top 63%, 709 students, 62% FRL) — zoned schools average 68% FRL vs 49% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: property tax is 2.6% of price; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 108 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 32 units permitted in Scurry County in 2024 (0 in 5+ unit buildings).
• Scurry County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts; this cycle's ask is 3627% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~3 years — after that, you're playing with house money.
• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• 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.
• 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.