1084 Speegle Rd

Willow Grove, TX 76712

$132,000C+

2 bd · 2.0 ba · 1,696 sqft · Built 1945 · SingleFamily · Pending · 5 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,615/mo
• Mortgage (P&I): −$692
• Tax + insurance: −$251
• HOA: −$0
• Vac / Maint / Mgmt: −$339
• Net cashflow: $333/mo
• Annual: $3,996/yr
• Cap rate: 9.32%
• Cash-on-cash: 10.81%
• DSCR: 1.48
• 1% rule: 1.22%
• Cash to close: $36,960

Investor read

• This is a 2-bed/2.0-bath single-family listed at $132k.
• At list price, monthly cash flow is $333 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $132k).
• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $913 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Midway ISD (other): math 61% / reading 58% proficiency, ranked #56 of 826 in TX (top 7%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: South Bosque El (math 75% / reading 76%, grade A, #73 of 4,322 statewide, top 2%, 595 students, 13% FRL).
• Zoned-school proficiency averages 76% at this address vs 60% district-wide (+16 pts) — the actual schools serving this property are materially stronger than the Midway ISD average implies; a family-tenant draw the district grade alone would hide.
• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents flat; 308 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 1,014 units permitted in McLennan County in 2024 (200 in 5+ unit buildings).
• McLennan County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts since 6y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Climate carrying-cost: major wind risk, 62% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.