15 N Pope St

San Angelo, TX 76903

$64,400B+

2 bd · 1.0 ba · 994 sqft · Built 1958 · SingleFamily · Active · 162 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,257/mo
• Mortgage (P&I): −$338
• Tax + insurance: −$217
• HOA: −$0
• Vac / Maint / Mgmt: −$264
• Net cashflow: $438/mo
• Annual: $5,253/yr
• Cap rate: 14.45%
• Cash-on-cash: 29.13%
• DSCR: 2.30
• 1% rule: 1.95%
• Cash to close: $18,032

Investor read

• This is a 2-bed/1.0-bath single-family listed at $64k. Condition is rated fair.
• At list price, monthly cash flow is $438 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $64k).
• It's been on market 162 days — a 12% lower offer ($57k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $57k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $445 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: San Jacinto El (math 22% / reading 22%, grade F, #3,333 of 4,322 statewide, top 80%, 273 students, 89% FRL); Lone Star Middle (math 28% / reading 32%, grade F, #1,056 of 1,662 statewide, top 65%, 903 students, 63% FRL); Central H S (math 22% / reading 43%, grade F, #1,029 of 1,632 statewide, top 64%, 3,065 students, 48% FRL).
• Watch-outs: property tax is 3.5% of price; built in 1958 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+8.5%/yr); 408 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $18k cash investment doubles in ~4 years — after that, you're playing with house money.
• Climate carrying-cost: extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 14.4% 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 30% of the median local income ($49k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 162 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1958 — 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?
• 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?
• 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.

Repairs flagged (vision-AI assessment)

• Moderate: Kitchen cabinets — The cabinets are outdated and show signs of wear.
• Moderate: Bathroom fixtures — The fixtures are outdated and show signs of wear.
• Minor: Exterior siding — There is some discoloration and minor damage, which can be repaired.
• Major: Flooring — The flooring is in poor condition and needs to be replaced.
• Minor: Interior walls — There is some discoloration and minor damage, which can be repaired.
• Minor: Landscaping — The landscaping is overgrown and needs trimming and maintenance.