2148 E State Highway 294 · Elkhart, TX 75839

$60,000

3 bd · 2.0 ba · 1,560 sqft · Manufactured public records · 15 Days on market

Built 2012

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +8.1/10.0
• ARV discount +7.5/15.0
• Schools +4.5/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Pratt Modular/Mobile Home Model: 2012 Champion For Sale TO BE MOVED New Carport and LVP flooring Metal Roof added in 2021 Front and back porches included All kitchen appliances included $60,000 plus moving costs Approximate cost to move: Bid we got for 45 miles: $8,500 No Owner Finance Contact for more details

Key facts

• Metal roof
• Lvp flooring
• Built 2012

Tags

• LVP FLOORING
• METAL ROOF
• FRONT AND BACK PORCHES
• ALL KITCHEN APPLIANCES

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $60k.

Deal economics

• At list price, monthly cash flow is $515 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $59k (1.5% below list) — sets the bar for market timing.
• Cap rate 16.6% vs local median 1.5% in Elkhart — 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 64/100 on livability (#750 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: schools C-, amenities F, commute F.
• Slocum ISD (rural): math 46% / reading 58% proficiency, ranked #332 of 1,141 in TX (top 29%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 69 active listings in the ZIP; 29 units permitted in Anderson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($415 loan paydown + $4k appreciation (6.3% local appreciation)).
• Anderson County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (6.3% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($59k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $59,100 (1.5% 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. 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.
3. 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.
4. 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: 2.00% ✓
• Cap rate: 16.59%
• Cash-on-cash: 36.78%
• DSCR: 2.64
• GRM: 4.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

6.28% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 47.3%
• Equity multiple: 4.04×
• Total profit: $51,135
• Equity at exit: $38,768

10-year hold

• IRR: 44.0%
• Equity multiple: 8.41×
• Total profit: $124,543
• Equity at exit: $71,229

Cash invested: $16,800 (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 75839

• Home prices YoY: 2.8%
• Active inventory: 69
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $1,199 medium
• Mortgage (P&I): −$315
• Tax from tax record: −$92 /mo · $1,110/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$252
• Net cashflow: $515

Break-even live

Break-even rent $547

Max offer price $60,000

Occupancy floor 52%

Sensitivity live

Price	-10% $549	-5% $532	+0% $515	+5% $498	+10% $481
Rent	-10% $420	-5% $468	+0% $515	+5% $562	+10% $610
Rate	-1.0pp $545	-0.5pp $530	base $515	+0.5pp $499	+1.0pp $484

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-19
   days on market $60,000 Active 15 DOM
2. 2026-06-18
   days on market $60,000 Active 14 DOM
3. 2026-06-17
   days on market $60,000 Active 13 DOM
4. 2026-06-16
   days on market $60,000 Active 12 DOM
5. 2026-06-15
   days on market $60,000 Active 11 DOM
6. 2026-06-14
   days on market $60,000 Active 9 DOM
7. 2026-06-12
   days on market $60,000 Active 8 DOM
8. 2026-06-09
   days on market $60,000 Active 5 DOM
9. 2026-06-08
   days on market $60,000 Active 4 DOM
10. 2026-06-07
    remarks 316-char remark
11. 2026-06-07
    listed $60,000 Active 3 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: $1,110 · $92/mo
• Projected year-2 tax: $1,110 · $92/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥110°F today · 27 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $14,386
• − Mortgage interest: −$3,361
• − Property taxes: −$1,110
• − Insurance: −$300
• − Repairs & maintenance: −$1,151
• − Management: −$1,151
• − Depreciation: −$1,745
• Taxable income: $5,568
• Est. tax owed @ 24.0%: −$1,336
• After-tax cash flow: $4,843/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: Slocum ISD
• NCES district ID: 4840500
• Math proficiency: 46% ▲ 7.00%
• Reading proficiency: 58% ▲ 5.00%
• Median HH income: $38,241
• Composite: 45.23/100
• National rank: #5767
• State rank: #332 of 1141 in TX

Livability — Elkhart

• Score: 64/100
• State rank: #750
• US rank: #13836

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 6,577

Population outlook (Anderson County) Hauer SSP2

• Today (2025): 56,663 people
• By 2030: 57,373 · +1.3%
• By 2040: 58,960 · +4.1%
• By 2050: 59,073 · +4.3%
• By 2075: 53,737 · -5.2%
• By 2100: 42,516 · -25.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Two or more races 15% Hispanic / Latino 12% Black 7%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Slovak 2% Lithuanian 1% Italian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 3%

Political lean MEDSL · Anderson

• 2024 margin: Solid R (+61.8) · D 18.8% · R 80.6%
• 2008→2024 swing: -18.3pp toward R · 2008: -43.5pp · 2024: -61.8pp
• All cycles: 2024: R+61.8 2020: R+58.0 2016: R+58.1 2012: R+52.2 2008: R+43.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.28%
• Current HPI: 232.112
• 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

• 2026-06-04 Listed $60,000 ForSaleByOwner.com

Property tax history

-1.3%/yr

Latest (2025): $1,110 · +0.8% YoY. Source: county tax records.