907 Woodland Ave

Friona, TX 79035

$80,000D

2 bd · 1.0 ba · 936 sqft · Built 1958 · SingleFamily · Active · 311 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $720/mo
• Mortgage (P&I): −$420
• Tax + insurance: −$144
• HOA: −$0
• Vac / Maint / Mgmt: −$151
• Net cashflow: $5/mo
• Annual: $64/yr
• Cap rate: 6.37%
• Cash-on-cash: 0.28%
• DSCR: 1.01
• 1% rule: 0.90%
• Cash to close: $22,400

Investor read

• This is a 2-bed/1.0-bath single-family listed at $80k.
• At list price, monthly cash flow is $5 ($64/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 $72k (10.0% below list).
• It's been on market 311 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• In year one you build about $8k of equity ($553 loan paydown + $7k appreciation (9.0% local appreciation)).
• Location reads 81/100 on livability (#20 in TX, #1,339 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities D+, commute F.
• Friona ISD (town): math 31% / reading 37% proficiency, ranked #530 of 826 in TX (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Friona El (math 22% / reading 32%, grade F, #2,791 of 4,322 statewide, top 68%, 312 students, 78% FRL); Friona J H (math 32% / reading 35%, grade F, #911 of 1,662 statewide, top 56%, 226 students, 64% FRL); Friona H S (math 52% / reading 57%, grade C-, #379 of 1,632 statewide, top 26%, 295 students, 55% FRL) — zoned schools at 65% FRL track the district average.
• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 16 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 4 units permitted in Parmer County in 2024 (0 in 5+ unit buildings).
• Parmer County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (9.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 311 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?
• 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.