203 S Canyon Dr · Onalaska, TX 77360

$138,000

3 bd · 2.0 ba · 1,670 sqft · Manufactured public records · 28 Days on market

Built 1979 0.54 ac lot Est $122k · 13% over $45/mo HOA · 2% of rent

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Why this score? — see what drove the B- 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.5/10.0
• Appreciation +4.7/10.0
• Schools +4.1/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +1.6/15.0

Listing remarks MLS

3-spacious combined lots totaling over half an acre are being sold with existing utilities in place. The property currently features a mobile home of approximately 1,600 sq ft; however, the sellers are offering this as lot value only and are not assigning value to the home itself. The home has not been occupied for about a year. Also included is an oversized two-car garage with an attached workshop and an upper-level bonus room that offers potential for storage, or a hobby space. Located in a desirable area and offered at an incredible price, this property presents a wonderful opportunity to build, invest, move in a new home or create a private getaway with room to grow. Opportunities like this are rare—especially with this amount of space.

Key facts

• Half-acre lot
• Double wide home
• Attic storage space

Tags

• DOUBLE WIDE HOME
• TWO LARGE LIVING ROOMS
• SMALL FENCED AREA
• LARGE DETACHED GARAGE
• ATTIC STORAGE SPACE
• HALF-ACRE LOT

Property features AI

Finance

• Other: Living area approximately 1,670; Lot about 0.54 acres
• HOA & community: Canyon Park association; Annual association fee of $540; Association provides security

Exterior

• Parking: Detached 2-car garage; Driveway; Additional parking; Garage door opener; RV access/parking
• Security: Community security
• Utilities: Public water; Public sewer; Concrete road access
• Home design: Residential property; Single-story (entry level: first); Facing direction not specified
• Construction: Built in 1979; Wood siding; Block foundation; Metal roof
• Exterior features: Covered patio; Patio; Porch; Deck; Private yard; Partial fencing; Cleared lot; Side yard

Interior

• Kitchen: Electric oven; Electric range
• Bedrooms: Primary bedroom (first level, approx. 13 x 14); Bedroom (first level, approx. 13 x 11); Bedroom (first level, approx. 12 x 12)
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air (electric)
• Interior features: Soaking tub; Separate shower; Ceiling fans; Kitchen/dining combo
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $138k.

Deal economics

• At list price, monthly cash flow is $641 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $138k).
• Recommended offer: $136k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.9% vs local median 2.9% in Onalaska — 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.

Location & tenants

• Location reads 60/100 on livability (#1,055 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, crime D+, amenities F.
• Onalaska ISD (rural): math 50% / reading 48% proficiency, ranked #213 of 826 in TX (top 26%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Onalaska Jr/Sr High (math 48% / reading 55%, grade D+, #478 of 1,632 statewide, top 29%, 527 students, 58% FRL) — zoned schools at 58% FRL track the district average.
• Market conditions: 350 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 769 units permitted in Polk County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $114 of equity ($954 loan paydown + $-840 appreciation (-0.6% local appreciation)).
• Polk County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-0.6% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 98% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $135,930 (1.5% below list)

Questions for the listing agent

1. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.45% ✓
• Cap rate: 11.87%
• Cash-on-cash: 19.91%
• DSCR: 1.89
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $121,910
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
203 S Canyon Dr	0.00mi	3/2.0	1,670 (0%)	6mo	$30,000	$18	95
291 Persimmon Rd	0.08mi	4/2.0 (+1)	1,860 (+11%)	11mo	$136,000	$73	64
175 Magnolia Rdg Unit DD	0.63mi	3/2.0	1,620 (-3%)	8mo	$130,000	$80	59

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

Projected returns pro-forma

-0.61% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 18.3%
• Equity multiple: 1.85×
• Total profit: $32,914
• Equity at exit: $35,922

10-year hold

• IRR: 23.4%
• Equity multiple: 3.46×
• Total profit: $95,139
• Equity at exit: $39,995

Cash invested: $38,640 (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 77360

• Home prices YoY: -0.4%
• Active inventory: 350
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $2,000 medium
• Mortgage (P&I): −$724
• Tax from tax record: −$113 /mo · $1,353/yr
• Insurance: −$58
• HOA: −$45
• Vacancy / Maint / Mgmt: −$420
• Net cashflow: $641

Break-even live

Break-even rent $1,189

Max offer price $138,000

Occupancy floor 63%

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: $34,500
• Closing costs: $4,140
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
947 Yaupon Cove Dr Onalaska, TX	4.0	2.0	1170	$2,000	$1.71	11d	1	1.18mi

HOA detail

• Monthly dues: $45 · $540/yr

Listing history 26 events

1. 2026-06-19
   days on market $138,000 Pending 28 DOM
2. 2026-06-18
   days on market $138,000 Pending 27 DOM
3. 2026-06-17
   days on market $138,000 Pending 26 DOM
4. 2026-06-16
   days on market $138,000 Pending 25 DOM
5. 2026-06-15
   status $138,000 Pending 24 DOM
6. 2026-06-15
   days on market $138,000 Active 24 DOM
7. 2026-06-14
   days on market $138,000 Active 22 DOM
8. 2026-06-13
   days on market $138,000 Active 21 DOM
9. 2026-06-10
   days on market $138,000 Active 19 DOM
10. 2026-06-09
    days on market $138,000 Active 18 DOM
11. 2026-06-08
    days on market $138,000 Active 17 DOM
12. 2026-06-07
    days on market $138,000 Active 16 DOM
13. 2026-06-05
    days on market $138,000 Active 13 DOM
14. 2026-06-03
    pricedays on market $138,000 Active 12 DOM
15. 2026-06-02
    days on market $148,000 Active 11 DOM
16. 2026-06-01
    days on market $148,000 Active 10 DOM
17. 2026-05-31
    days on market $148,000 Active 9 DOM
18. 2026-05-30
    days on market $148,000 Active 8 DOM
19. 2026-05-22
    listed $148,000 Active
20. 2025-12-08
    soldstatus
21. 2025-12-05
    soldstatus Closed 756-char remark

    Show marketing remark (756 chars)

    3-spacious combined lots totaling over half an acre are being sold with existing utilities in place. The property currently features a mobile home of approximately 1,600 sq ft; however, the sellers are offering this as lot value only and are not assigning value to the home itself. The home has not been occupied for about a year. Also included is an oversized two-car garage with an attached workshop and an upper-level bonus room that offers potential for storage, or a hobby space. Located in a desirable area and offered at an incredible price, this property presents a wonderful opportunity to build, invest, move in a new home or create a private getaway with room to grow. Opportunities like this are rare—especially with this amount of space.

22. 2025-11-11
    status Pending 756-char remark

    Show marketing remark (756 chars)

    3-spacious combined lots totaling over half an acre are being sold with existing utilities in place. The property currently features a mobile home of approximately 1,600 sq ft; however, the sellers are offering this as lot value only and are not assigning value to the home itself. The home has not been occupied for about a year. Also included is an oversized two-car garage with an attached workshop and an upper-level bonus room that offers potential for storage, or a hobby space. Located in a desirable area and offered at an incredible price, this property presents a wonderful opportunity to build, invest, move in a new home or create a private getaway with room to grow. Opportunities like this are rare—especially with this amount of space.

23. 2025-11-11
    status Pending 756-char remark

    Show marketing remark (756 chars)

    3-spacious combined lots totaling over half an acre are being sold with existing utilities in place. The property currently features a mobile home of approximately 1,600 sq ft; however, the sellers are offering this as lot value only and are not assigning value to the home itself. The home has not been occupied for about a year. Also included is an oversized two-car garage with an attached workshop and an upper-level bonus room that offers potential for storage, or a hobby space. Located in a desirable area and offered at an incredible price, this property presents a wonderful opportunity to build, invest, move in a new home or create a private getaway with room to grow. Opportunities like this are rare—especially with this amount of space.

24. 2025-11-07
    listed $30,000 Active 756-char remark

    Show marketing remark (756 chars)

    3-spacious combined lots totaling over half an acre are being sold with existing utilities in place. The property currently features a mobile home of approximately 1,600 sq ft; however, the sellers are offering this as lot value only and are not assigning value to the home itself. The home has not been occupied for about a year. Also included is an oversized two-car garage with an attached workshop and an upper-level bonus room that offers potential for storage, or a hobby space. Located in a desirable area and offered at an incredible price, this property presents a wonderful opportunity to build, invest, move in a new home or create a private getaway with room to grow. Opportunities like this are rare—especially with this amount of space.

25. 2017-04-04
    soldstatus
26. 2009-06-18
    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: $1,353 · $113/mo
• Projected year-2 tax: $2,525 · $210/mo
• Expected delta: +$1,172/yr (+$98/mo · 86.7%)

ⓘ 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 8/10 Severe 7 d/yr ≥111°F today · 23 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 98% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,000
• − Mortgage interest: −$7,730
• − Property taxes: −$1,353
• − Insurance: −$690
• − Repairs & maintenance: −$1,920
• − Management: −$1,920
• − HOA: −$540
• − Depreciation: −$4,015
• Taxable income: $5,832
• Est. tax owed @ 24.0%: −$1,400
• After-tax cash flow: $6,293/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: Onalaska ISD
• NCES district ID: 4833690
• Math proficiency: 50% ▼ -10.00%
• Reading proficiency: 48% ▼ -1.00%
• Median HH income: $38,882
• Composite: 40.91/100
• National rank: #3616
• State rank: #213 of 826 in TX

Livability — Onalaska

• Score: 60/100
• State rank: #1055
• US rank: #18716

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Onalaska, TX
• Population (ZIP): 6,130

Population outlook (Polk County) Hauer SSP2

• Today (2025): 51,049 people
• By 2030: 53,243 · +4.3%
• By 2040: 56,528 · +10.7%
• By 2050: 59,243 · +16.1%
• By 2075: 63,528 · +24.4%
• By 2100: 60,376 · +18.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Two or more races 10% Hispanic / Latino 8%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Lithuanian 4% Italian 2% Romanian 2%
• Foreign-born: 1% · Canada
• Languages at home: 95% English-only · Spanish 5%

Political lean MEDSL · Polk

• 2024 margin: Solid R (+58.9) · D 20.2% · R 79.1%
• 2008→2024 swing: -21.7pp toward R · 2008: -37.2pp · 2024: -58.9pp
• All cycles: 2024: R+58.9 2020: R+54.5 2016: R+56.5 2012: R+48.2 2008: R+37.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -0.61%
• Current HPI: 150.9486
• Rent YoY: —
• Metro: —
• 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

+393.3% since first listed

8 events — show timeline

• 2026-05-22 Listed $148,000 HARMLS
• 2025-12-08 Sold (Public Records) — Public Records
• 2025-12-05 Sold (MLS) — HARMLS
• 2025-11-11 Pending — HARMLS
• 2025-11-11 Pending — HARMLS
• 2025-11-07 Listed $30,000 HARMLS
• 2017-04-04 Sold (Public Records) — Public Records
• 2009-06-18 Sold (Public Records) — Public Records

Property tax history

+5.7%/yr

Latest (2025): $1,353 · +10.2% YoY. Source: county tax records.