118 E Lake View Trl

Lake City, TX 78383

$145,000C-

2 bd · 1.0 ba · 888 sqft · Built 1986 · SingleFamily · Active · 110 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,261/mo
• Mortgage (P&I): −$760
• Tax + insurance: −$146
• HOA: −$0
• Vac / Maint / Mgmt: −$265
• Net cashflow: $90/mo
• Annual: $1,081/yr
• Cap rate: 7.04%
• Cash-on-cash: 2.66%
• DSCR: 1.12
• 1% rule: 0.87%
• Cash to close: $40,600

Investor read

• This is a 2-bed/1.0-bath single-family listed at $145k.
• At list price, monthly cash flow is $90 ($1k/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 $126k (13.0% below list).
• It's been on market 110 days — a 9% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $126k (13.0% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 59/100 on livability (#1,180 in TX) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: health & safety C-, crime F, amenities F.
• George West ISD (rural): math 55% / reading 59% proficiency, ranked #95 of 826 in TX (top 12%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: George West Pri (math 67% / reading 77%, grade A-, #110 of 4,322 statewide, top 3%, 396 students, 68% FRL); George West El (math 51% / reading 53%, grade C+, #301 of 1,662 statewide, top 19%, 249 students, 64% FRL); George West H S (math 52% / reading 62%, grade C, #333 of 1,632 statewide, top 22%, 280 students, 58% FRL).
• Market conditions: 119 active listings in the ZIP; 12 units permitted in Live Oak County in 2024 (0 in 5+ unit buildings).
• Live Oak County population projected at +33% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 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.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; 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 110 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
• 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 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.