123 Chapman

Pleasanton, TX 78064

$100,000C+

3 bd · 2.0 ba · 1,216 sqft · Built 1990 · SingleFamily · Active · 440 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,109/mo
• Mortgage (P&I): −$524
• Tax + insurance: −$593
• HOA: −$0
• Vac / Maint / Mgmt: −$233
• Net cashflow: $-242/mo
• Annual: $-2,899/yr
• Cap rate: 8.51%
• Cash-on-cash: 7.93%
• DSCR: 1.35
• 1% rule: 1.11%
• Cash to close: $28,000

Investor read

• This is a 3-bed/2.0-bath single-family listed at $100k. Condition is rated fair.
• At list price, monthly cash flow is $-242 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $65k (35.0% below list).
• Meets the 1% rule at list price ($1k rent vs $100k).
• It's been on market 440 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $65k (35.0% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 65/100 on livability (#679 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B; Watch: amenities F, commute F, health & safety F.
• Pleasanton ISD (town): math 36% / reading 37% proficiency, ranked #470 of 826 in TX (top 57%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Pleasanton El (math 35% / reading 35%, grade F, #1,965 of 4,322 statewide, top 46%, 958 students, 70% FRL); Pleasanton J H (math 30% / reading 34%, grade F, #971 of 1,662 statewide, top 60%, 772 students, 66% FRL); Pleasanton H S (math 59% / reading 51%, grade C, #373 of 1,632 statewide, top 23%, 944 students, 60% FRL).
• Watch-outs: flood insurance adds $427/mo.
• Market conditions: 373 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals lingering (median 134d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 77% of comp listings sitting > 30 days — soft ceiling on asking rent; 224 units permitted in Atascosa County in 2024 (0 in 5+ unit buildings).
• Atascosa County population projected at +41% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 80% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 8.5% vs local median 3.5% in Pleasanton — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

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?
• It's been on market 440 days. Have you received any prior offers? Is the seller open to a 35% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Moderate: kitchen cabinets — dated and in need of updating
• Moderate: bathroom fixtures — standard and dated
• Minor: exterior siding — some discoloration