500 Vine St

Baird, TX 79504

$10,000C-

1 bd · 1.0 ba · 1,896 sqft · Built 1935 · SingleFamily · Active · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,924/mo
• Mortgage (P&I): −$52
• Tax + insurance: −$24
• HOA: −$0
• Vac / Maint / Mgmt: −$404
• Net cashflow: $1,444/mo
• Annual: $17,323/yr
• Cap rate: 179.52%
• Cash-on-cash: 618.66%
• DSCR: 28.53
• 1% rule: 19.24%
• Cash to close: $2,800

Investor read

• This is a 1-bed/1.0-bath single-family listed at $10k.
• At list price, monthly cash flow is $1k ($17k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $10k).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $843 of equity ($69 loan paydown + $774 appreciation (7.7% local appreciation)).
• Location reads 74/100 on livability (#195 in TX, #4,977 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, amenities F, commute F.
• Baird ISD (rural): math 40% / reading 40% proficiency, ranked #731 of 1,141 in TX (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Baird El (math 47% / reading 37%, grade F, #1,335 of 4,322 statewide, top 33%, 169 students, 57% FRL); Baird H S (math 42% / reading 47%, grade F, #652 of 1,632 statewide, top 43%, 143 students, 44% FRL).
• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 20 active listings in the ZIP; 11 units permitted in Callahan County in 2024 (0 in 5+ unit buildings).
• Callahan County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 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 (7.7% appreciation + 3.0% rent growth), your $3k cash investment doubles in ~1 year — 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 1935 — 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.
• 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.