1140 Avery Rd

Granbury, TX 76049

$324,999D-

3 bd · 2.0 ba · 1,730 sqft · Built 2026 · Land · Pending · 89 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,259/mo
• Mortgage (P&I): −$1,704
• Tax + insurance: −$542
• HOA: −$25
• Vac / Maint / Mgmt: −$474
• Net cashflow: $-487/mo
• Annual: $-5,841/yr
• Cap rate: 4.50%
• Cash-on-cash: -6.42%
• DSCR: 0.71
• 1% rule: 0.69%
• Cash to close: $91,000

Investor read

• This is a 3-bed/2.0-bath land listed at $325k.
• At list price, monthly cash flow is $-487 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $255k (21.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $226k (30.5% below list).
• It's been on market 89 days — a 6% lower offer ($305k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $226k (30.5% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Location reads 66/100 on livability (#628 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, crime D+, schools D.
• Granbury ISD (town): math 46% / reading 46% proficiency, ranked #237 of 826 in TX (top 29%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+5.2%/yr); 703 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 48% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 125 units permitted in Hood County in 2024 (0 in 5+ unit buildings).
• Hood County population projected at +29% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

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 89 days. Have you received any prior offers? Is the seller open to a 31% 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?
• 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 D-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 D 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?
• 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?