8963 Adams Cir

Cresson, TX 76035

$70,000B

2 bd · 2.0 ba · 1,148 sqft · Built 1983 · Manufactured · Active · 69 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,557/mo
• Mortgage (P&I): −$367
• Tax + insurance: −$189
• HOA: −$0
• Vac / Maint / Mgmt: −$327
• Net cashflow: $674/mo
• Annual: $8,087/yr
• Cap rate: 17.85%
• Cash-on-cash: 41.26%
• DSCR: 2.84
• 1% rule: 2.22%
• Cash to close: $19,600

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $70k. Condition is rated fair.
• At list price, monthly cash flow is $674 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $70k).
• It's been on market 69 days — a 6% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $66k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-1.9%/yr); year-one equity from $484 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 63/100 on livability (#843 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B+; Watch: health & safety D+, crime D, amenities F.
• Weatherford ISD (town): math 39% / reading 44% proficiency, ranked #321 of 826 in TX (top 39%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Ikard El (math 24% / reading 34%, grade F, #2,668 of 4,322 statewide, top 63%, 620 students, 73% FRL); Hall Middle (math 43% / reading 45%, grade D, #512 of 1,662 statewide, top 32%, 973 students, 47% FRL); Weatherford H S (math 33% / reading 53%, grade F, #713 of 1,632 statewide, top 44%, 2,525 students, 40% FRL).
• Watch-outs: property tax is 2.7% of price.
• Market conditions: 168 active listings in the ZIP; solid renter incomes; 437 units permitted in Parker County in 2024 (0 in 5+ unit buildings).
• Parker County population projected at +32% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 6 sale attempts since 3y 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.
• At projected returns (-1.9% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~3 years — after that, you're playing with house money.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; severe wildfire risk; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 17.8% vs local median 4.7% in Cresson — 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

• It's been on market 69 days. Have you received any prior offers? Is the seller open to a 6% 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?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• 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 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?
• Crime grade is D 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?
• 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.

Repairs flagged (vision-AI assessment)

• Moderate: Siding — Weathered and discolored, likely needs replacement
• Minor: Paint — Chipped in some areas, touch-up needed