191 Refugio

La Ward, TX 77971

$68,500B

3 bd · 2.0 ba · 960 sqft · Built 2007 · Manufactured · Active · 1048 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $958/mo
• Mortgage (P&I): −$359
• Tax + insurance: −$114
• HOA: −$0
• Vac / Maint / Mgmt: −$201
• Net cashflow: $284/mo
• Annual: $3,403/yr
• Cap rate: 11.26%
• Cash-on-cash: 17.74%
• DSCR: 1.79
• 1% rule: 1.40%
• Cash to close: $19,180

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $68k. Condition is rated fair.
• At list price, monthly cash flow is $284 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($958 rent vs $68k).
• It's been on market 1048 days — a 12% lower offer ($60k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $60k (12.0% below list) — sets the bar for market timing.
• In year one you build about $3k of equity ($474 loan paydown + $2k appreciation (3.0% local appreciation)).
• Location reads 55/100 on livability (#1,349 in TX) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: health & safety C-, schools F, crime F.
• Industrial ISD (rural): math 59% / reading 59% proficiency, ranked #61 of 826 in TX (top 7%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 12 active listings in the ZIP.
• Jackson County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~4 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 1048 days. Have you received any prior offers? Is the seller open to a 12% 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?
• 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 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.

Repairs flagged (vision-AI assessment)

• Minor: kitchen cabinets — slight wear
• Minor: bathroom fixtures — slight wear
• Moderate: exterior siding — moderate wear