452 Bobbie St

Mabank, TX 75147

$210,000C-

3 bd · 2.5 ba · 1,310 sqft · Built 2023 · SingleFamily · Active · 196 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,662/mo
• Mortgage (P&I): −$1,101
• Tax + insurance: −$428
• HOA: −$0
• Vac / Maint / Mgmt: −$349
• Net cashflow: $-216/mo
• Annual: $-2,593/yr
• Cap rate: 5.06%
• Cash-on-cash: -4.41%
• DSCR: 0.80
• 1% rule: 0.79%
• Cash to close: $58,800

Investor read

• This is a 3-bed/2.5-bath single-family listed at $210k. Condition is rated good.
• At list price, monthly cash flow is $-216 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $172k (18.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $166k (20.8% below list).
• It's been on market 196 days — a 12% lower offer ($185k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $166k (20.8% below list) — sets the bar for 1% rule.
• In year one you build about $22k of equity ($1k loan paydown + $21k appreciation (10.0% local appreciation)).
• Location reads 69/100 on livability (#446 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: amenities F, commute F, employment D-.
• Mabank ISD (town): math 47% / reading 44% proficiency, ranked #273 of 826 in TX (top 33%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Central El (math 48% / reading 42%, grade D-, #1,133 of 4,322 statewide, top 27%, 675 students, 64% FRL); Mabank Int (math 49% / reading 34%, grade F, #595 of 1,662 statewide, top 37%, 611 students, 66% FRL); Mabank H S (math 36% / reading 53%, grade F, #652 of 1,632 statewide, top 43%, 1,111 students, 57% FRL).
• Market conditions: Rents rising fast (+8.1%/yr); 299 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); 1,747 units permitted in Kaufman County in 2024 (180 in 5+ unit buildings).
• Kaufman County population projected at +43% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 4 sale attempts since 3y 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.
• By year 2, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wind risk, 62% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.1% vs local median 2.6% in Mabank — 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.
• This rent runs 35% of the median local income ($57k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 196 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
• 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.
• 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.