120 Greenridge Cir

Lufkin, TX 75904

$112,999B-

2 bd · 2.0 ba · 1,456 sqft · Built 1981 · Manufactured · Active · 399 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,277/mo
• Mortgage (P&I): −$593
• Tax + insurance: −$123
• HOA: −$0
• Vac / Maint / Mgmt: −$268
• Net cashflow: $293/mo
• Annual: $3,516/yr
• Cap rate: 9.40%
• Cash-on-cash: 11.11%
• DSCR: 1.49
• 1% rule: 1.13%
• Cash to close: $31,640

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $113k.
• At list price, monthly cash flow is $293 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $113k).
• It's been on market 399 days — a 12% lower offer ($99k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $99k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $781 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 72/100 on livability (#240 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, commute F, employment D-.
• Diboll ISD (town): math 45% / reading 37% proficiency, ranked #394 of 826 in TX (top 48%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: H G Temple El (314 students, 74% FRL); Diboll J H (math 49% / reading 29%, grade F, #690 of 1,662 statewide, top 42%, 349 students, 71% FRL); Diboll H S (math 47% / reading 47%, grade D-, #591 of 1,632 statewide, top 38%, 521 students, 56% FRL) — zoned schools at 67% FRL track the district average.
• Market conditions: 295 active listings in the ZIP; 120 units permitted in Angelina County in 2024 (0 in 5+ unit buildings).
• 2 sale attempts; this cycle's ask is 13% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~10 years — after that, you're playing with house money.
• Cap rate 9.4% vs local median 3.5% in Lufkin — 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 399 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• 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.
• Crime grade is F 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.
• 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.