162 Langford Cove Rd

Evant, TX 76525

$65,000C+

3 bd · 2.0 ba · 1,080 sqft · Built 2001 · SingleFamily · Pending · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $743/mo
• Mortgage (P&I): −$341
• Tax + insurance: −$136
• HOA: −$0
• Vac / Maint / Mgmt: −$156
• Net cashflow: $110/mo
• Annual: $1,324/yr
• Cap rate: 8.33%
• Cash-on-cash: 7.27%
• DSCR: 1.32
• 1% rule: 1.14%
• Cash to close: $18,200

Investor read

• This is a 3-bed/2.0-bath single-family listed at $65k.
• At list price, monthly cash flow is $110 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($743 rent vs $65k).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $3k of equity ($449 loan paydown + $2k appreciation (3.2% local appreciation)).
• Location reads 56/100 on livability (#1,325 in TX) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Evant ISD (rural): math 35% / reading 35% proficiency, ranked #886 of 1,141 in TX (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Evant El (math 15% / reading 24%, grade F, #3,575 of 4,322 statewide, top 83%, 103 students, 70% FRL); Evant H S (math 27% / reading 37%, grade F, #1,044 of 1,632 statewide, top 66%, 100 students, 62% FRL) — zoned schools average 66% FRL vs 50% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 79 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 386 units permitted in Coryell County in 2024 (0 in 5+ unit buildings).
• 3 sale attempts since 21y 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.
• At projected returns (3.2% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~5 years — after that, you're playing with house money.
• Climate carrying-cost: major flood risk; major wind risk, 27% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

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 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 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?
• 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.