1501 Lark Ct · Pelican Bay, TX 76020

$179,999

2 bd · 2.0 ba · 1,152 sqft · Manufactured public records · 25 Days on market

Built 2015 9,670 sqft lot Est $173k · at est.

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Why this score? — see what drove the D- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +13.6/30.0
• ARV discount +5.6/15.0
• DSCR +4.1/10.0
• Schools +3.6/10.0
• Rent growth +3.1/5.0
• Livability +3.1/5.0
• 1% rule +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Move-In Ready Describes This 3 Bed, 2 Bath Singlewide Mobile Home on .22 Acre in Pelican Bay. Large Open Living Area with Beautiful Vinyl Plank Flooring Throughout. Kitchen Features Rich Dark Wood Cabinets, Island, Breakfast Bar and Electric Appliances. Good Sized Bedrooms and Utility Room with Full Size Washer and Dryer Hook ups. Corner Lot!! Free Amenities Nearby - Boat Launch, Fishing Pier, Park with Swimming and Playground!

Key facts

• Breakfast bar
• Updated faucet
• Open-concept layout

Tags

• OPEN-CONCEPT LAYOUT
• CUSTOM PAINTED CABINETRY
• BREAKFAST BAR
• NEW STAINLESS STEEL SINK
• UPDATED FAUCET
• FRESH UPDATED INTERIOR PAINT

Property features AI

Finance

• Other: Washer/dryer and refrigerator are excluded and treated as non-realty items
• Financial info: Listing accepts Cash, Conventional, FHA, and VA loan
• HOA & community: No HOA / association

Exterior

• Parking: Attached carport (covered, 1 space); Driveway parking
• Security: Smoke detector(s)
• Utilities: City water; City sewer; Electricity available
• Home design: Mobile home (residential); One story; Accessible approach with ramp; Accessible bedroom
• Construction: Built in 2015; Preowned
• Exterior features: Covered patio/porch with awning(s); Wood fencing; Landscaped yard; Corner lot with some trees

Interior

• Kitchen: Dishwasher; Electric range; Eat-in kitchen with island and built-in cabinets; Granite countertops
• Bedrooms: 3 bedrooms (all on the main level); Primary bedroom on the main level
• Flooring: Carpet; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air; Electric cooling; Ceiling fan(s)
• Interior features: Open floorplan; Eat-in kitchen; Kitchen island; Granite counters; Cable TV available; High speed internet available; Built-in cabinets
• Laundry & utility: Utility room with full-size washer/dryer area

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $180k.

Deal economics

• At list price, monthly cash flow is $11 ($131/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 $144k (20.0% below list).
• Recommended offer: $144k (20.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 62/100 on livability (#917 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: health & safety D+, amenities F, commute F.
• Azle ISD (suburban): math 37% / reading 43% proficiency, ranked #351 of 826 in TX (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Liberty El (math 32% / reading 42%, grade F, #1,769 of 4,322 statewide, top 44%, 466 students, 64% FRL); Santo Forte J H (math 28% / reading 41%, grade F, #858 of 1,662 statewide, top 54%, 514 students, 55% FRL); Azle H S (math 41% / reading 50%, grade D-, #634 of 1,632 statewide, top 39%, 2,054 students, 44% FRL).
• Market conditions: Rents rising (+2.3%/yr); 594 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 18,938 units permitted in Tarrant County in 2024 (8,336 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Tarrant County population projected at +41% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($177k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 14y 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.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $143,930 (20.0% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
3. 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?
4. 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.
5. 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.
6. 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.

Investment metrics

• 1% rule: 0.80% ✗
• Cap rate: 6.37%
• Cash-on-cash: 0.26%
• DSCR: 1.01
• GRM: 10.4

CMA / ARV

• ARV (on-the-fly): $172,800
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1413 Whippoorwill Way	0.16mi	2/2.0	1,144 (-1%)	8mo	$115,000	$101	85
1521 Lark Ct	0.06mi	3/2.0 (+1)	1,216 (+6%)	2mo	$185,000	$152	81
1413 Dawn Dr N	0.16mi	3/2.0 (+1)	1,216 (+6%)	3mo	$150,000	$123	76
1405 Cardinal Ter	0.22mi	3/2.0 (+1)	1,216 (+6%)	6mo	$125,000	$103	71
1609 Quail Run	0.43mi	3/2.0 (+1)	1,152 (0%)	15mo	$174,900	$152	63
1552 Chaparral Ln	0.49mi	3/2.0 (+1)	1,216 (+6%)	1mo	$185,000	$152	62
1605 Sheri Ct	0.43mi	3/2.0 (+1)	1,216 (+6%)	5mo	$185,000	$152	61
1404 Dawn Dr N	0.17mi	2/1.5	980 (-15%)	7mo	$70,000	$71	59
1704 Coral Rd	0.46mi	3/2.0 (+1)	1,178 (+2%)	15mo	$180,950	$154	57
1505 Mockingbird Ln	0.32mi	3/2.0 (+1)	1,232 (+7%)	14mo	$159,500	$129	57
1821 Gale Dr	0.70mi	3/2.0 (+1)	1,216 (+6%)	1mo	$183,000	$150	52
1609 Mockingbird Ln	0.44mi	3/2.0 (+1)	1,216 (+6%)	16mo	$150,000	$123	52

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 2.31% rent growth · sell at horizon

5-year hold

• IRR: -16.6%
• Equity multiple: 0.41×
• Total profit: $-29,516
• Equity at exit: $26,838

10-year hold

• IRR: -9.7%
• Equity multiple: 0.42×
• Total profit: $-29,029
• Equity at exit: $15,563

Cash invested: $50,400 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Texas: 87 Strongly Landlord-Friendly · R+5
• County: — inherits STATE
• City: — inherits STATE

3-day notice; statewide preemption; one of the fastest eviction climates; Travis County (Austin) slightly slower.

Methodology + full state rankings →

ZIP-level market 76020

• Home prices YoY: -20.6%
• Rents YoY: 2.3%
• Active inventory: 594
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $1,439 high
• Mortgage (P&I): −$944
• Tax from tax record: −$107 /mo · $1,286/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$302
• Net cashflow: $11

Break-even live

Break-even rent $1,425

Max offer price $179,999

Occupancy floor 94%

Sensitivity live

Price	-10% $113	-5% $62	+0% $11	+5% $-40	+10% $-91
Rent	-10% $-103	-5% $-46	+0% $11	+5% $68	+10% $125
Rate	-1.0pp $102	-0.5pp $57	base $11	+0.5pp $-36	+1.0pp $-83

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1329 Fox Hollow Ct Azle, TX	2.0	1.0	924	$900	$0.97	8d	1	0.14mi
1620 Mockingbird Ln Azle, TX	3.0	2.0	1090	$1,499	$1.38	22d	1	0.51mi
1844 Sheila Dr Azle, TX	3.0	2.0	1319	$1,645	$1.25	0d	1	0.54mi
1920 Reef Ct Azle, TX	3.0	2.0	1090	$1,449	$1.33	45d	1	0.73mi
11124 Liberty School Rd Unit 24B Azle, TX	2.0	2.0	700	$999	$1.43	24d	1	0.76mi
11128 Liberty School Rd Unit 28A Azle, TX	2.0	2.0	700	$1,050	$1.50	26d	1	0.77mi
1324 White Sand Dr Azle, TX	3.0	2.0	1149	$1,650	$1.44	7d	1	0.79mi
1300 White Sand Dr Unit 1304 Azle, TX	3.0	2.0	1149	$1,695	$1.48	45d	1	0.79mi
1304 White Sand Dr Azle, TX	3.0	2.0	1149	$1,695	$1.48	45d	1	0.83mi
1408 Yachtclub Dr Azle, TX	3.0	2.0	1302	$2,000	$1.54	14d	1	0.86mi
700 Stribling Cir Azle, TX	3.0	2.0	1311	$1,659	$1.27	18d	1	1.10mi
424 Lochridge Dr Unit 424 Azle, TX	3.0	2.0	1182	$1,575	$1.33	14d	1	1.12mi
1021 Timberoaks Dr Azle, TX	1.0–2.0	1.0–1.5	792	$1,250	$1.58	0d	16	1.22mi
244 Marina Dr Azle, TX	1.0	1.0	725	$1,215	$1.68	45d	1	1.39mi
745 Timberoaks Dr Azle, TX	3.0	2.0	1304	$1,865	$1.43	5d	1	1.42mi

Listing history 29 events

1. 2026-06-21
   days on market $179,999 Active 25 DOM
2. 2026-06-18
   days on market $179,999 Active 22 DOM
3. 2026-06-17
   days on market $179,999 Active 21 DOM
4. 2026-06-16
   days on market $179,999 Active 20 DOM
5. 2026-06-15
   days on market $179,999 Active 19 DOM
6. 2026-06-13
   days on market $179,999 Active 17 DOM
7. 2026-06-13
   days on market $179,999 Active 16 DOM
8. 2026-06-09
   days on market $179,999 Active 13 DOM
9. 2026-06-08
   days on market $179,999 Active 12 DOM
10. 2026-06-07
    days on market $179,999 Active 11 DOM
11. 2026-06-04
    days on market $179,999 Active 8 DOM
12. 2026-06-03
    days on market $179,999 Active 7 DOM
13. 2026-06-02
    days on market $179,999 Active 6 DOM
14. 2026-06-01
    days on market $179,999 Active 5 DOM
15. 2026-05-31
    days on market $179,999 Active 4 DOM
16. 2026-05-27
    listed $179,999 Active
17. 2026-03-23
    historical
18. 2026-03-15
    price $199,000
19. 2026-03-09
    listed $210,000 Active
20. 2022-01-19
    soldstatus Sold 431-char remark

    Show marketing remark (431 chars)

    Move-In Ready Describes This 3 Bed, 2 Bath Singlewide Mobile Home on .22 Acre in Pelican Bay. Large Open Living Area with Beautiful Vinyl Plank Flooring Throughout. Kitchen Features Rich Dark Wood Cabinets, Island, Breakfast Bar and Electric Appliances. Good Sized Bedrooms and Utility Room with Full Size Washer and Dryer Hook ups. Corner Lot!! Free Amenities Nearby - Boat Launch, Fishing Pier, Park with Swimming and Playground!

21. 2022-01-19
    soldstatus

    Show marketing remark (431 chars)

    Move-In Ready Describes This 3 Bed, 2 Bath Singlewide Mobile Home on .22 Acre in Pelican Bay. Large Open Living Area with Beautiful Vinyl Plank Flooring Throughout. Kitchen Features Rich Dark Wood Cabinets, Island, Breakfast Bar and Electric Appliances. Good Sized Bedrooms and Utility Room with Full Size Washer and Dryer Hook ups. Corner Lot!! Free Amenities Nearby - Boat Launch, Fishing Pier, Park with Swimming and Playground!

22. 2022-01-11
    status Pending 431-char remark

    Show marketing remark (431 chars)

    Move-In Ready Describes This 3 Bed, 2 Bath Singlewide Mobile Home on .22 Acre in Pelican Bay. Large Open Living Area with Beautiful Vinyl Plank Flooring Throughout. Kitchen Features Rich Dark Wood Cabinets, Island, Breakfast Bar and Electric Appliances. Good Sized Bedrooms and Utility Room with Full Size Washer and Dryer Hook ups. Corner Lot!! Free Amenities Nearby - Boat Launch, Fishing Pier, Park with Swimming and Playground!

23. 2022-01-04
    price $114,000 431-char remark

    Show marketing remark (431 chars)

    Move-In Ready Describes This 3 Bed, 2 Bath Singlewide Mobile Home on .22 Acre in Pelican Bay. Large Open Living Area with Beautiful Vinyl Plank Flooring Throughout. Kitchen Features Rich Dark Wood Cabinets, Island, Breakfast Bar and Electric Appliances. Good Sized Bedrooms and Utility Room with Full Size Washer and Dryer Hook ups. Corner Lot!! Free Amenities Nearby - Boat Launch, Fishing Pier, Park with Swimming and Playground!

24. 2021-12-16
    listed $119,000 Active 431-char remark

    Show marketing remark (431 chars)

    Move-In Ready Describes This 3 Bed, 2 Bath Singlewide Mobile Home on .22 Acre in Pelican Bay. Large Open Living Area with Beautiful Vinyl Plank Flooring Throughout. Kitchen Features Rich Dark Wood Cabinets, Island, Breakfast Bar and Electric Appliances. Good Sized Bedrooms and Utility Room with Full Size Washer and Dryer Hook ups. Corner Lot!! Free Amenities Nearby - Boat Launch, Fishing Pier, Park with Swimming and Playground!

25. 2012-05-15
    soldstatus Closed
26. 2012-04-24
    status Pending
27. 2012-04-11
    listed $19,000 Active
28. 2009-06-23
    soldstatus
29. 2005-09-02
    soldstatus

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast TX · Resets to sale price

• Current annual tax: $1,286 · $107/mo
• Projected year-2 tax: $3,294 · $274/mo
• Expected delta: +$2,008/yr (+$167/mo · 156.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 22 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 24% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,272
• − Mortgage interest: −$10,083
• − Property taxes: −$1,286
• − Insurance: −$900
• − Repairs & maintenance: −$1,382
• − Management: −$1,382
• − Depreciation: −$5,236
• Taxable loss: −$2,997
• Est. tax savings @ 24.0%: +$719
• After-tax cash flow: $850/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Azle ISD
• NCES district ID: 4809200
• Math proficiency: 37% ▼ -11.00%
• Reading proficiency: 43% ▼ -5.00%
• Median HH income: $61,473
• Composite: 35.57/100
• National rank: #4900
• State rank: #351 of 826 in TX

Livability — Pelican Bay

• Score: 62/100
• State rank: #917
• US rank: #16376

Category grades

Amenities F Commute F Cost of living A+ Crime A Employment F Housing A+ Health & safety D+ User ratings C+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pelican Bay, TX
• County: Parker County · 144,797 people
• Metro: Dallas-Fort Worth-Arlington, TX
• Population (ZIP): 34,602
• Household income: $87,298
• Rent vs Own: 22.3% rent · 77.7% own
• Severe rent burden: 433.0

Population outlook (Tarrant County) Hauer SSP2

• Today (2025): 2,380,417 people
• By 2030: 2,578,900 · +8.3%
• By 2040: 2,974,995 · +25.0%
• By 2050: 3,350,489 · +40.8%
• By 2075: 4,216,909 · +77.2%
• By 2100: 4,741,527 · +99.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Hispanic / Latino 18% Two or more races 9% Black 1%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Slovak 2% Italian 1% Portuguese 1%
• Foreign-born: 5% · Canada
• Languages at home: 89% English-only · Spanish 11%

Political lean MEDSL · Tarrant

• 2024 margin: Lean R (+5.1) · D 46.7% · R 51.9% · Other 1.4%
• 2008→2024 swing: +6.6pp toward D · 2008: -11.7pp · 2024: -5.1pp
• All cycles: 2024: R+5.1 2020: D+0.2 2016: R+8.7 2012: R+15.7 2008: R+11.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -74.72%
• Current HPI: 287.155
• Rent YoY: ▲ 2.31%
• Metro: Dallas-Fort Worth-Arlington, TX
• State GDP YoY: ▲ 3.95%
• F500 in state: 110

Industry mix (Fortune 500 HQ in TX)

Industry	F500 HQs	Revenue
▸Energy	16	$1,198B
▸Technology	5	$198B
▸Engineering / Construction	4	$72B
▸Energy Services	3	$60B
▸Utilities	3	$41B
▸Healthcare	2	$330B

Price history

+847.4% since first listed

14 events — show timeline

• 2026-05-27 Listed $179,999 NTREIS
• 2026-03-23 Listing Removed — NTREIS
• 2026-03-15 Price Changed $199,000 NTREIS
• 2026-03-09 Listed $210,000 NTREIS
• 2022-01-19 Sold (Public Records) — Public Records
• 2022-01-19 Sold (MLS) — NTREIS
• 2022-01-11 Pending — NTREIS
• 2022-01-04 Price Changed $114,000 NTREIS
• 2021-12-16 Listed $119,000 NTREIS
• 2012-05-15 Sold (MLS) — NTREIS
• 2012-04-24 Pending — NTREIS
• 2012-04-11 Listed $19,000 NTREIS
• 2009-06-23 Sold (Public Records) — Public Records
• 2005-09-02 Sold (Public Records) — Public Records

Property tax history

+1.4%/yr

Latest (2025): $1,286 · +1.3% YoY. Source: county tax records.