Harper Plan

Celina, TX 75058

$309,990D

4 bd · 2.0 ba · 1,791 sqft · Built — · SingleFamily · Active · 10 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,193/mo
• Mortgage (P&I): −$1,626
• Tax + insurance: −$517
• HOA: −$62
• Vac / Maint / Mgmt: −$461
• Net cashflow: $-472/mo
• Annual: $-5,663/yr
• Cap rate: 4.47%
• Cash-on-cash: -6.52%
• DSCR: 0.71
• 1% rule: 0.71%
• Cash to close: $86,797

Investor read

• This is a 4-bed/2.0-bath single-family listed at $310k.
• At list price, monthly cash flow is $-472 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $242k (22.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $219k (29.3% below list).
• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $219k (29.3% below list) — sets the bar for 1% rule.
• In year one you build about $33k of equity ($2k loan paydown + $31k appreciation (10.0% local appreciation)).
• Location reads 68/100 on livability (#450 in TX) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: cost of living C-, amenities F, commute F.
• Gunter ISD (rural): math 47% / reading 58% proficiency, ranked #103 of 826 in TX (top 12%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Gunter El (math 52% / reading 57%, grade C, #621 of 4,322 statewide, top 15%, 414 students, 23% FRL); Gunter Middle (math 46% / reading 56%, grade C, #326 of 1,662 statewide, top 20%, 373 students, 19% FRL); Gunter H S (math 42% / reading 67%, grade C-, #379 of 1,632 statewide, top 26%, 371 students, 20% FRL).
• Market conditions: 201 active listings in the ZIP; 2,272 units permitted in Grayson County in 2024 (750 in 5+ unit buildings).
• Grayson County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 2, paydown + projected appreciation supports a ~$53k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 4.5% vs local median 2.8% in Celina — 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?
• 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.
• Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.