516 W Martin Luther King St

Kirbyville, TX 75956

$60,000B

2 bd · 1.0 ba · 1,258 sqft · Built — · SingleFamily · Active · 28 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,131/mo
• Mortgage (P&I): −$315
• Tax + insurance: −$173
• HOA: −$0
• Vac / Maint / Mgmt: −$237
• Net cashflow: $406/mo
• Annual: $4,873/yr
• Cap rate: 14.42%
• Cash-on-cash: 29.01%
• DSCR: 2.29
• 1% rule: 1.88%
• Cash to close: $16,800

Investor read

• This is a 2-bed/1.0-bath single-family listed at $60k.
• At list price, monthly cash flow is $406 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• It's been on market 28 days — a 2% lower offer ($59k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $59k (1.5% below list) — sets the bar for market timing.
• In year one you build about $1k of equity ($415 loan paydown + $742 appreciation (1.2% local appreciation)).
• Location reads 59/100 on livability (#1,133 in TX) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A, health & safety A; Watch: amenities F, commute F, employment F.
• Kirbyville CISD (rural): math 48% / reading 43% proficiency, ranked #274 of 826 in TX (top 33%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Kirbyville El (math 38% / reading 38%, grade F, #1,709 of 4,322 statewide, top 40%, 722 students, 70% FRL); Kirbyville J H (math 58% / reading 43%, grade C, #333 of 1,662 statewide, top 21%, 363 students, 64% FRL); Kirbyville H S (math 47% / reading 57%, grade D+, #447 of 1,632 statewide, top 29%, 417 students, 56% FRL).
• Watch-outs: property tax is 3.0% of price.
• Market conditions: 98 active listings in the ZIP; 45 units permitted in Jasper County in 2024 (0 in 5+ unit buildings).
• Jasper County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.2% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~3 years — after that, you're playing with house money.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; 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

• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• 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.
• 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.