3755 County Rd 174

Garrison, TX 75946

$139,900D

3 bd · 2.0 ba · 1,792 sqft · Built 1997 · Manufactured · Pending · 25 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,104/mo
• Mortgage (P&I): −$734
• Tax + insurance: −$278
• HOA: −$0
• Vac / Maint / Mgmt: −$232
• Net cashflow: $-140/mo
• Annual: $-1,677/yr
• Cap rate: 5.09%
• Cash-on-cash: -4.28%
• DSCR: 0.81
• 1% rule: 0.79%
• Cash to close: $39,172

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $140k.
• At list price, monthly cash flow is $-140 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $115k (17.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $110k (21.1% below list).
• It's been on market 25 days — a 2% lower offer ($138k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $110k (21.1% below list) — sets the bar for 1% rule.
• In year one you build about $8k of equity ($967 loan paydown + $7k appreciation (5.1% local appreciation)).
• Location reads 64/100 on livability (#745 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Garrison ISD (rural): math 47% / reading 48% proficiency, ranked #233 of 826 in TX (top 28%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 71 active listings in the ZIP; 35 units permitted in Nacogdoches County in 2024 (0 in 5+ unit buildings).
• 2 sale attempts since 2y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• By year 5, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

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.
• 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.