220 W Wichita St

Miami, TX 79059

$164,900D-

4 bd · 2.0 ba · 1,248 sqft · Built 1950 · SingleFamily · Pending · 235 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,187/mo
• Mortgage (P&I): −$865
• Tax + insurance: −$231
• HOA: −$0
• Vac / Maint / Mgmt: −$249
• Net cashflow: $-158/mo
• Annual: $-1,900/yr
• Cap rate: 5.14%
• Cash-on-cash: -4.12%
• DSCR: 0.82
• 1% rule: 0.72%
• Cash to close: $46,172

Investor read

• This is a 4-bed/2.0-bath single-family listed at $165k.
• At list price, monthly cash flow is $-158 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $137k (17.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $119k (28.0% below list).
• It's been on market 235 days — a 12% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $119k (28.0% below list) — sets the bar for 1% rule.
• In year one you build about $6k of equity ($1k loan paydown + $5k appreciation (3.0% local appreciation)).
• Location reads 62/100 on livability (#945 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, employment B; Watch: crime F, amenities F, commute F.
• Miami ISD (rural): math 40% / reading 50% proficiency, ranked #479 of 1,141 in TX (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 9 active listings in the ZIP.
• Roberts County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 6, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

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 235 days. Have you received any prior offers? Is the seller open to a 28% 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.
• 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?
• 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.