909 Loganwood Dr

Royse City, TX 75189

$143,220B

3 bd · 2.0 ba · 1,188 sqft · Built 1985 · SingleFamily · Active · 10 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,968/mo
• Mortgage (P&I): −$751
• Tax + insurance: −$443
• HOA: −$0
• Vac / Maint / Mgmt: −$413
• Net cashflow: $361/mo
• Annual: $4,328/yr
• Cap rate: 9.31%
• Cash-on-cash: 10.79%
• DSCR: 1.48
• 1% rule: 1.37%
• Cash to close: $40,102

Investor read

• This is a 3-bed/2.0-bath single-family listed at $143k.
• At list price, monthly cash flow is $361 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $143k).
• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $990 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 75/100 on livability (#158 in TX, #4,292 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F.
• Royse City ISD (rural): math 42% / reading 42% proficiency, ranked #266 of 826 in TX (top 32%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Royse City H S (math 38% / reading 55%, grade D-, #621 of 1,632 statewide, top 38%, 2,526 students, 37% FRL) — zoned schools at 37% FRL track the district average.
• Watch-outs: property tax is 3.2% of price.
• Market conditions: Rents soft (-1.1%/yr); 1301 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 43% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 1,810 units permitted in Rockwall County in 2024 (0 in 5+ unit buildings).
• Rockwall County population projected at +56% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 4 sale attempts since 9y 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.
• Current owner paid $78k; list at $143k implies a 85% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 9.3% vs local median 4.2% in Royse City — 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

• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• 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.