202 E Roselawn St

Plainview, TX 79072

$98,000D

2 bd · 1.0 ba · 784 sqft · Built 1969 · SingleFamily · Active · 53 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $867/mo
• Mortgage (P&I): −$514
• Tax + insurance: −$139
• HOA: −$0
• Vac / Maint / Mgmt: −$182
• Net cashflow: $32/mo
• Annual: $385/yr
• Cap rate: 6.69%
• Cash-on-cash: 1.40%
• DSCR: 1.06
• 1% rule: 0.88%
• Cash to close: $27,440

Investor read

• This is a 2-bed/1.0-bath single-family listed at $98k.
• At list price, monthly cash flow is $32 ($385/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $87k (11.6% below list).
• It's been on market 53 days — a 3% lower offer ($95k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $87k (11.6% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $678 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 69/100 on livability (#393 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, health & safety C-, employment D.
• Plainview ISD (town): math 41% / reading 37% proficiency, ranked #445 of 826 in TX (top 54%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 69% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Hillcrest El (math 37% / reading 27%); Coronado Middle (math 37% / reading 35%); Plainview H S (math 64% / reading 50%, grade C, #333 of 1,632 statewide, top 22%, 1,442 students, 78% FRL).
• Market conditions: 151 active listings in the ZIP; 13 units permitted in Hale County in 2024 (0 in 5+ unit buildings).
• Hale County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 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.
• Climate carrying-cost: extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 53 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1969 — 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.
• 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.