601 Espa Ct

Vinton, TX 79821

$291,950D

3 bd · 2.5 ba · 1,629 sqft · Built 2026 · Land · Pending · 70 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,100/mo
• Mortgage (P&I): −$1,531
• Tax + insurance: −$271
• HOA: −$0
• Vac / Maint / Mgmt: −$441
• Net cashflow: $-143/mo
• Annual: $-1,716/yr
• Cap rate: 5.71%
• Cash-on-cash: -2.10%
• DSCR: 0.91
• 1% rule: 0.72%
• Cash to close: $81,746

Investor read

• This is a 3-bed/2.5-bath land listed at $292k.
• At list price, monthly cash flow is $-143 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $267k (8.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $210k (28.1% below list).
• It's been on market 70 days — a 6% lower offer ($274k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $210k (28.1% below list) — sets the bar for 1% rule.
• In year one you build about $10k of equity ($2k loan paydown + $8k appreciation (2.7% local appreciation)).
• Location reads 59/100 on livability (#1,135 in TX) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, crime A-; Watch: amenities F, commute F, employment D-.
• Canutillo ISD (other): math 28% / reading 39% proficiency, ranked #542 of 826 in TX (top 66%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 71% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Canutillo El (math 22% / reading 32%, grade F, #2,791 of 4,322 statewide, top 68%, 519 students, 82% FRL); Canutillo Middle (math 21% / reading 34%, grade F, #1,156 of 1,662 statewide, top 71%, 700 students, 64% FRL); Canutillo H S (math 36% / reading 41%, grade F, #866 of 1,632 statewide, top 54%, 1,642 students, 65% FRL) — zoned schools at 70% FRL track the district average.
• Market conditions: 30 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 2,196 units permitted in El Paso County in 2024 (143 in 5+ unit buildings).
• El Paso County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 4, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

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 70 days. Have you received any prior offers? Is the seller open to a 28% 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.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.