1105 Johnson St

Woodsboro, TX 78393

$150,000C-

3 bd · 1.0 ba · 1,609 sqft · Built 1962 · SingleFamily · Pending · 200 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,542/mo
• Mortgage (P&I): −$787
• Tax + insurance: −$378
• HOA: −$0
• Vac / Maint / Mgmt: −$324
• Net cashflow: $53/mo
• Annual: $637/yr
• Cap rate: 6.72%
• Cash-on-cash: 1.52%
• DSCR: 1.07
• 1% rule: 1.03%
• Cash to close: $42,000

Investor read

• This is a 3-bed/1.0-bath single-family listed at $150k.
• At list price, monthly cash flow is $53 ($637/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• It's been on market 200 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $132k (12.0% below list) — sets the bar for market timing.
• In year one you build about $1k of equity ($1k loan paydown + $417 appreciation (0.3% local appreciation)).
• Location reads 67/100 on livability (#512 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, schools D-, amenities F.
• Woodsboro ISD (rural): math 31% / reading 40% proficiency, ranked #504 of 826 in TX (top 61%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: property tax is 2.5% of price.
• Market conditions: 24 active listings in the ZIP; 24 units permitted in Refugio County in 2024 (0 in 5+ unit buildings).
• Refugio County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 4 sale attempts; this cycle's ask has dropped $50k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Questions for listing agent

• It's been on market 200 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• 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?
• 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.