913 Country Rd

Royse City, TX 75189

$230,000D+

4 bd · 2.5 ba · 2,080 sqft · Built 2024 · SingleFamily · Active · 134 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,357/mo
• Mortgage (P&I): −$1,206
• Tax + insurance: −$735
• HOA: −$48
• Vac / Maint / Mgmt: −$495
• Net cashflow: $-128/mo
• Annual: $-1,532/yr
• Cap rate: 5.63%
• Cash-on-cash: -2.38%
• DSCR: 0.89
• 1% rule: 1.02%
• Cash to close: $64,400

Investor read

• This is a 4-bed/2.5-bath single-family listed at $230k. Condition is rated good.
• At list price, monthly cash flow is $-128 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $207k (9.8% below list).
• Meets the 1% rule at list price ($2k rent vs $230k).
• It's been on market 134 days — a 12% lower offer ($202k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $202k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 75/100 on livability (#158 in TX, #4,292 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F.
• Community ISD (rural): math 30% / reading 38% proficiency, ranked #479 of 826 in TX (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: John & Barbara Roderick El (678 students, 52% FRL); Ouida Baley Middle (math 32% / reading 35%, grade F, #911 of 1,662 statewide, top 56%, 934 students, 43% FRL); Royse City H S (math 38% / reading 55%, grade D-, #621 of 1,632 statewide, top 38%, 2,526 students, 37% FRL).
• Watch-outs: property tax is 3.3% of price.
• Market conditions: Rents soft (-1.1%/yr); 1884 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 73d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 75% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 1,289 units permitted in Hunt County in 2024 (527 in 5+ unit buildings).
• Hunt County population projected at +15% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $29k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Cap rate 5.6% vs local median 4.2% in Royse City — 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.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 134 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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.
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.