1306 E 17th St

San Angelo, TX 76903

$60,000B

1 bd · 1.0 ba · 484 sqft · Built 1960 · MultiFamily · Pending · 5 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,804/mo
• Mortgage (P&I): −$315
• Tax + insurance: −$162
• HOA: −$0
• Vac / Maint / Mgmt: −$379
• Net cashflow: $948/mo
• Annual: $11,379/yr
• Cap rate: 25.26%
• Cash-on-cash: 67.73%
• DSCR: 4.01
• 1% rule: 3.01%
• Cash to close: $16,800

Investor read

• This is a 1-bed/1.0-bath multifamily listed at $60k.
• At list price, monthly cash flow is $948 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $60k).
• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $415 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 73/100 on livability (#199 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, amenities F, commute F.
• San Angelo ISD (urban): math 27% / reading 33% proficiency, ranked #627 of 826 in TX (top 76%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Bradford El (math 12% / reading 17%, grade F, #4,048 of 4,322 statewide, top 95%, 418 students, 94% FRL); Lincoln Middle (math 19% / reading 23%, grade F, #1,387 of 1,662 statewide, top 85%, 844 students, 78% FRL); Lake View H S (math 6% / reading 22%, grade F, #1,527 of 1,632 statewide, top 94%, 1,085 students, 64% FRL) — zoned schools average 79% FRL vs 53% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 16% at this address vs 30% district-wide (-14 pts) — the specific schools serving this property underperform the San Angelo ISD average; the district grade overstates school quality for this exact location.
• Watch-outs: property tax is 2.7% of price.
• Market conditions: Rents rising fast (+8.5%/yr); 227 active listings in the ZIP; 233 units permitted in Tom Green County in 2024 (0 in 5+ unit buildings).
• Tom Green County population projected at +35% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 25.3% vs local median 3.8% in San Angelo — 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.
• This rent runs 44% of the median local income ($49k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• 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?
• 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.