15981 Fm 31

Scottsville, TX 75672

$129,999C-

3 bd · 1.0 ba · 1,008 sqft · Built 1974 · Other · Active · 223 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,308/mo
• Mortgage (P&I): −$682
• Tax + insurance: −$196
• HOA: −$0
• Vac / Maint / Mgmt: −$275
• Net cashflow: $156/mo
• Annual: $1,871/yr
• Cap rate: 7.73%
• Cash-on-cash: 5.14%
• DSCR: 1.23
• 1% rule: 1.01%
• Cash to close: $36,400

Investor read

• This is a 3-bed/1.0-bath other listed at $130k.
• At list price, monthly cash flow is $156 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $130k).
• It's been on market 223 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $899 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 59/100 on livability (#1,109 in TX) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime D, amenities F, commute F.
• Elysian Fields ISD (rural): math 52% / reading 54% proficiency, ranked #136 of 826 in TX (top 16%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Elysian Fields El (math 47% / reading 52%, grade D, #865 of 4,322 statewide, top 21%, 374 students, 50% FRL); Elysian Fields Middle (math 57% / reading 52%, grade B-, #256 of 1,662 statewide, top 16%, 180 students, 52% FRL); Elysian Fields H S (math 62% / reading 62%, grade B-, #237 of 1,632 statewide, top 16%, 259 students, 39% FRL) — zoned schools at 47% FRL track the district average.
• Market conditions: 175 active listings in the ZIP; 85 units permitted in Harrison County in 2024 (15 in 5+ unit buildings).

Questions for listing agent

• It's been on market 223 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1974 — 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 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 D 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.