15065 Opelousas Ave

Horizon City, TX 79928

$270,000B-

None bd · None ba · — sqft · Built 2020 · MultiFamily · Active · 155 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,520/mo
• Mortgage (P&I): −$1,416
• Tax + insurance: −$450
• HOA: −$0
• Vac / Maint / Mgmt: −$949
• Net cashflow: $1,705/mo
• Annual: $20,459/yr
• Cap rate: 13.87%
• Cash-on-cash: 27.06%
• DSCR: 2.20
• 1% rule: 1.67%
• Cash to close: $75,600

Investor read

• This is a 4 × 1-bed/1-bath units multifamily listed at $270k. Condition is rated good.
• At list price, monthly cash flow is $2k ($20k/yr) — positive. Per door: $426/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $270k).
• It's been on market 155 days — a 12% lower offer ($238k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $238k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 66/100 on livability (#619 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D, amenities F, commute F.
• Clint ISD (suburban): math 14% / reading 22% proficiency, ranked #792 of 826 in TX (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Desert Hills El (math 23% / reading 24%, grade F, #3,247 of 4,322 statewide, top 76%, 907 students, 78% FRL); Horizon Middle (math 16% / reading 20%, grade F, #1,491 of 1,662 statewide, top 91%, 670 students, 84% FRL); Horizon H S (math 14% / reading 26%, grade F, #1,397 of 1,632 statewide, top 87%, 1,677 students, 85% FRL) — zoned schools average 82% FRL vs 59% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.9%/yr); 2101 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 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.
• At projected returns (-3.0% appreciation + 2.9% rent growth), your $76k cash investment doubles in ~5 years — after that, you're playing with house money.
• At $4,520/mo this rent would consume 71% of the median local household income ($77k/yr) (locally 838% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• It's been on market 155 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• 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.