1006 E Easy Ave

Crockett, TX 75835

$144,500D+

3 bd · 2.0 ba · 2,004 sqft · Built 1957 · SingleFamily · Active · 633 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,379/mo
• Mortgage (P&I): −$758
• Tax + insurance: −$320
• HOA: −$0
• Vac / Maint / Mgmt: −$290
• Net cashflow: $12/mo
• Annual: $139/yr
• Cap rate: 6.39%
• Cash-on-cash: 0.34%
• DSCR: 1.02
• 1% rule: 0.95%
• Cash to close: $40,460

Investor read

• This is a 3-bed/2.0-bath single-family listed at $144k.
• At list price, monthly cash flow is $12 ($139/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 $138k (4.5% below list).
• It's been on market 633 days — a 12% lower offer ($127k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $127k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $999 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 61/100 on livability (#1,005 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A, crime B+; Watch: amenities F, commute F, employment F.
• Crockett ISD (town): math 22% / reading 28% proficiency, ranked #736 of 826 in TX (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 78% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Crockett El (math 18% / reading 21%, grade F, #3,583 of 4,322 statewide, top 86%, 399 students, 92% FRL); Crockett J H (math 22% / reading 31%, grade F, #1,200 of 1,662 statewide, top 73%, 291 students, 89% FRL); Crockett H S (math 37% / reading 37%, grade F, #897 of 1,632 statewide, top 57%, 361 students, 85% FRL).
• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 277 active listings in the ZIP; 3 units permitted in Houston County in 2024 (0 in 5+ unit buildings).
• Houston County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 5 sale attempts since 2y 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.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.4% vs local median 3.0% in Crockett — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Questions for listing agent

• It's been on market 633 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1957 — 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?
• 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.