203 N San Gabriel St · Hearne, TX 77859

$130,000

3 bd · 2.0 ba · 1,216 sqft · Manufactured public records · 8 Days on market

Built 2002 7,667 sqft lot

---

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 +25.9/30.0
• Appreciation +10.0/10.0
• DSCR +8.7/10.0
• ARV discount +7.5/15.0
• 1% rule +5.5/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0

Listing remarks

Completely remodeled 3-bedroom, 2-bath manufactured home situated on a spacious 6,500 sq. ft. lot. This move-in ready property features a brand-new HVAC system, new vinyl plank flooring throughout, fresh interior paint, updated trim work, and all-new cabinetry. The beautifully renovated kitchen offers modern finishes, ample cabinet space, and updated fixtures, opening to a bright and inviting living area. The primary suite includes a spacious bathroom with dual vanities and a soaking tub. Enjoy the large yard with plenty of room for outdoor activities, gardening, or entertaining. Conveniently located and thoughtfully updated, this home offers the perfect blend of comfort, style, and afforda

Key facts

• Interior paint
• Renovated kitchen
• New cabinetry

Tags

• HVAC SYSTEM
• VINYL PLANK FLOORING
• INTERIOR PAINT
• UPDATED TRIM WORK
• NEW CABINETRY
• RENOVATED KITCHEN

Property features AI

Finance

• Other: Energy-efficient thermostat

Exterior

• Parking: No designated parking
• Utilities: Public water; Public sewer; Electricity available; Sewer available; Water available
• Home design: Manufactured home; One level
• Exterior features: Partial fencing; Lot approximately 0.176 acres

Interior

• Kitchen: ENERGY STAR qualified appliances
• Flooring: Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air; Ceiling fan(s)
• Interior features: Granite counters; Ceiling fans
• Laundry & utility: Electric water heater; Water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $130k.

Deal economics

• At list price, monthly cash flow is $321 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $130k).
• Cap rate 9.3% vs local median 4.9% in Hearne — 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 66/100 on livability (#611 in TX) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools F, amenities F, employment F.
• Hearne ISD (town): math 10% / reading 18% proficiency, ranked #816 of 826 in TX (top 99%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 88% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 92 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 23 units permitted in Robertson County in 2023 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $14k of equity ($899 loan paydown + $13k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $130,000

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. 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.
4. 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.
5. 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: 1.05% ✓
• Cap rate: 9.26%
• Cash-on-cash: 10.60%
• DSCR: 1.47
• GRM: 7.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 32.0%
• Equity multiple: 3.51×
• Total profit: $91,207
• Equity at exit: $117,114

10-year hold

• IRR: 27.6%
• Equity multiple: 7.93×
• Total profit: $252,363
• Equity at exit: $252,561

Cash invested: $36,400 (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 77859

• Home prices YoY: 11.2%
• Active inventory: 92
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,368 medium
• Mortgage (P&I): −$682
• Tax from tax record: −$24 /mo · $284/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$287
• Net cashflow: $321

Break-even live

Break-even rent $961

Max offer price $130,000

Occupancy floor 72%

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
401 E 3rd St Hearne, TX	4.0	3.0	1338	$1,500	$1.12	21d	1	0.28mi
1305 New St Hearne, TX	2.0	1.0	816	$1,100	$1.35	13d	1	0.85mi
222 Farm to Market 485 Hearne, TX	2.0	1.0	780	$1,050	$1.35	13d	3	0.95mi

Listing history 7 events

1. 2026-06-14
   days on market $130,000 Active 8 DOM
2. 2026-06-13
   days on market $130,000 Active 7 DOM
3. 2026-06-10
   days on market $130,000 Active 5 DOM
4. 2026-06-09
   days on market $130,000 Active 4 DOM
5. 2026-06-08
   days on market $130,000 Active 3 DOM
6. 2026-06-07
   remarks 699-char remark
7. 2026-06-07
   listed $130,000 Active 2 DOM

ⓘ 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: $284 · $24/mo
• Projected year-2 tax: $2,379 · $198/mo
• Expected delta: +$2,095/yr (+$175/mo · 737.8%)

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

Taxation est. · year 1

• Rental income: $16,420
• − Mortgage interest: −$7,282
• − Property taxes: −$284
• − Insurance: −$650
• − Repairs & maintenance: −$1,314
• − Management: −$1,314
• − Depreciation: −$3,782
• Taxable income: $1,795
• Est. tax owed @ 24.0%: −$431
• After-tax cash flow: $3,426/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: Hearne ISD
• NCES district ID: 4822830
• Math proficiency: 10% ▼ -16.00%
• Reading proficiency: 18% ▼ -4.00%
• Median HH income: $41,858
• Composite: 12.13/100
• National rank: #9655
• State rank: #816 of 826 in TX

Livability — Hearne

• Score: 66/100
• State rank: #611
• US rank: #11586

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hearne, TX
• Population (ZIP): 7,516

Population outlook (Robertson County) Hauer SSP2

• Today (2025): 16,926 people
• By 2030: 17,039 · +0.7%
• By 2040: 17,217 · +1.7%
• By 2050: 17,301 · +2.2%
• By 2075: 17,849 · +5.5%
• By 2100: 17,642 · +4.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.67)
• Race & ethnicity: White 40% Hispanic / Latino 30% Black 29% Two or more races 15%
• Hispanic origin (detail): Mexican 27%
• Common ancestry: Romanian 3% Serbian 1% Italian 1%
• Foreign-born: 8% · Canada
• Languages at home: 78% English-only · Spanish 18% Arabic 3%

Political lean MEDSL · Robertson

• 2024 margin: Solid R (+52.1) · D 23.6% · R 75.8%
• 2008→2024 swing: -32.7pp toward R · 2008: -19.4pp · 2024: -52.1pp
• All cycles: 2024: R+52.1 2020: R+40.4 2016: R+35.1 2012: R+22.3 2008: R+19.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 17.97%
• Current HPI: 177.7117
• 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

1 event — show timeline

• 2026-06-05 Listed $130,000 BCSRMLS

Property tax history

+2.8%/yr

Latest (2025): $284 · +9.1% YoY. Source: county tax records.