9100 Surveyor Rd

Amarillo, TX 79124

$220,350D

3 bd · 2.0 ba · 1,100 sqft · Built 2026 · SingleFamily · Active · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,919/mo
• Mortgage (P&I): −$1,156
• Tax + insurance: −$367
• HOA: −$0
• Vac / Maint / Mgmt: −$403
• Net cashflow: $-7/mo
• Annual: $-84/yr
• Cap rate: 6.25%
• Cash-on-cash: -0.14%
• DSCR: 0.99
• 1% rule: 0.87%
• Cash to close: $61,698

Investor read

• This is a 3-bed/2.0-bath single-family listed at $220k. Condition is rated good.
• At list price, monthly cash flow is $-7 ($-84/yr) — negative.
• To cash-flow at today's rent, offer at most $219k (0.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $192k (12.9% below list).
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $192k (12.9% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 66/100 on livability (#624 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: amenities C-, crime F, commute F.
• Amarillo ISD (urban): math 44% / reading 41% proficiency, ranked #336 of 826 in TX (top 41%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Sleepy Hollow El (math 72% / reading 66%, grade A-, #168 of 4,322 statewide, top 4%, 517 students, 31% FRL); Crockett Middle (math 66% / reading 47%, grade B, #226 of 1,662 statewide, top 14%, 874 students, 44% FRL); Amarillo H S (math 55% / reading 64%, grade C+, #275 of 1,632 statewide, top 19%, 2,170 students, 34% FRL) — zoned schools average 36% FRL vs 58% district-wide (22 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 62% at this address vs 42% district-wide (+19 pts) — the actual schools serving this property are materially stronger than the Amarillo ISD average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 310 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,214 units permitted in Potter County in 2024 (650 in 5+ unit buildings).

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• 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?
• Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.