305 N 3rd St

Coolidge, TX 76693

$85,000B+

5 bd · 1.0 ba · 2,456 sqft · Built 1946 · SingleFamily · Active · 43 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,344/mo
• Mortgage (P&I): −$446
• Tax + insurance: −$84
• HOA: −$0
• Vac / Maint / Mgmt: −$282
• Net cashflow: $533/mo
• Annual: $6,392/yr
• Cap rate: 13.81%
• Cash-on-cash: 26.86%
• DSCR: 2.19
• 1% rule: 1.58%
• Cash to close: $23,800

Investor read

• This is a 5-bed/1.0-bath single-family listed at $85k.
• At list price, monthly cash flow is $533 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• It's been on market 43 days — a 3% lower offer ($82k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $82k (3.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($588 loan paydown + $978 appreciation (1.1% local appreciation)).
• Location reads 62/100 on livability (#904 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: amenities F, commute F, employment D-.
• Coolidge ISD (rural): math 55% / reading 45% proficiency, ranked #407 of 1,141 in TX (top 36%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; 77% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Coolidge El (math 64% / reading 44%, grade C, #621 of 4,322 statewide, top 15%, 155 students, 73% FRL) — zoned schools at 73% FRL track the district average.
• Watch-outs: built in 1946 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 45 active listings in the ZIP; 17 units permitted in Limestone County in 2024 (0 in 5+ unit buildings).
• Limestone County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (1.1% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~3 years — after that, you're playing with house money.
• Climate carrying-cost: major wind risk, 67% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1946 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• 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.