1057 Carnagie Rd

Perrin, TX 76487

$279,999D

4 bd · 2.0 ba · 1,475 sqft · Built 2026 · Land · Active · 5 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,287/mo
• Mortgage (P&I): −$1,468
• Tax + insurance: −$217
• HOA: −$0
• Vac / Maint / Mgmt: −$480
• Net cashflow: $122/mo
• Annual: $1,458/yr
• Cap rate: 6.81%
• Cash-on-cash: 1.86%
• DSCR: 1.08
• 1% rule: 0.82%
• Cash to close: $78,400

Investor read

• This is a 4-bed/2.0-bath land listed at $280k.
• At list price, monthly cash flow is $122 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $229k (18.3% below list).
• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $229k (18.3% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 58/100 on livability (#1,190 in TX) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: health & safety D+, crime F, amenities F.
• Poolville ISD (rural): math 40% / reading 41% proficiency, ranked #385 of 826 in TX (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Poolville El (math 32% / reading 37%, grade F, #1,995 of 4,322 statewide, top 50%, 380 students, 52% FRL).
• Market conditions: 291 active listings in the ZIP; 437 units permitted in Parker County in 2024 (0 in 5+ unit buildings).
• Parker County population projected at +32% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Questions for listing agent

• 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?
• 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.
• 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.