4108 Whisper Pt

Schertz, TX 78108

$239,999D

3 bd · 2.0 ba · 1,707 sqft · Built 2005 · SingleFamily · Active · 34 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,996/mo
• Mortgage (P&I): −$1,259
• Tax + insurance: −$478
• HOA: −$17
• Vac / Maint / Mgmt: −$419
• Net cashflow: $-177/mo
• Annual: $-2,128/yr
• Cap rate: 5.41%
• Cash-on-cash: -3.17%
• DSCR: 0.86
• 1% rule: 0.83%
• Cash to close: $67,200

Investor read

• This is a 3-bed/2.0-bath single-family listed at $240k.
• At list price, monthly cash flow is $-177 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $209k (13.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $200k (16.8% below list).
• It's been on market 34 days — a 3% lower offer ($233k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $200k (16.8% below list) — sets the bar for 1% rule.
• In year one you build about $3k of equity ($2k loan paydown + $1k appreciation (0.5% local appreciation)).
• Location reads 73/100 on livability (#198 in TX) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: health & safety D+, amenities F, commute F.
• Schertz-Cibolo-U City ISD (suburban): math 49% / reading 48% proficiency, ranked #152 of 826 in TX (top 18%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Schertz El (math 25% / reading 31%, grade F, #2,740 of 4,322 statewide, top 64%, 671 students, 67% FRL); Byron P Steele Ii H S (math 68% / reading 66%, grade B, #163 of 1,632 statewide, top 11%, 2,716 students, 25% FRL) — zoned schools average 46% FRL vs 27% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.4%/yr); 739 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 2,064 units permitted in Guadalupe County in 2024 (133 in 5+ unit buildings).
• Guadalupe County population projected at +61% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 13 sale attempts since 15y ago; this cycle's ask has dropped $200k (45%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• By year 10, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.4% vs local median 2.8% in Schertz — 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 34 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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.
• 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.