6138 Apache Dr · Enchanted Oaks, TX 75156

$50,000

3 bd · 2.0 ba · 648 sqft · Manufactured public records · 449 Days on market

Built 1994 0.34 ac lot $130/mo HOA · 10% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +3.2/10.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• Rent growth +1.1/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

If you want a Texas-size property with plenty of space to enjoy nature, don't miss this one. On 2 partially fenced lots shaded by beautiful hardwood trees sits a 1994 1330 sq ft single wide home longing for new owners to bring it back to its once lovely condition. Indian Harbor is a growing area with lots of new site-built homes. Close to shopping, restaurants and city conveniences. Eustace ISD. Community boat launch conveniently located at the end of Aztec. Great Investment opportunity for that weekend getaway or for rental. Property is in an estate and being SOLD AS IS. No utilities will be turned on due to needed repairs.

Key facts

• 0.34 acre lot
• Built 1994
• Listed 449 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $50k.

Deal economics

• At list price, monthly cash flow is $569 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $44k (12.0% below list) — sets the bar for market timing.
• Cap rate 20.0% vs local median 2.2% in Enchanted Oaks — 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 (#1,103 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A, housing A; Watch: schools F, amenities F, commute F.
• Eustace ISD (rural): math 32% / reading 45% proficiency, ranked #455 of 826 in TX (top 55%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents falling (-5.8%/yr); 694 active listings in the ZIP; 263 units permitted in Henderson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $346 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $14k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 449 days — a 12% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 2y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $8k; list at $50k implies a 525% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 61% chance of damaging wind over 30y; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $44,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 449 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 2.62% ✓
• Cap rate: 19.96%
• Cash-on-cash: 48.80%
• DSCR: 3.17
• GRM: 3.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 42.5%
• Equity multiple: 2.74×
• Total profit: $24,416
• Equity at exit: $7,455

10-year hold

• IRR: 47.1%
• Equity multiple: 4.82×
• Total profit: $53,503
• Equity at exit: $4,323

Cash invested: $14,000 (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 75156

• Rents YoY: -5.8%
• Active inventory: 694
• Price-to-rent: 3.2×

Monthly cashflow live

• Estimated rent: $1,310 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$52 /mo · $626/yr
• Insurance: −$21
• HOA: −$130
• Vacancy / Maint / Mgmt: −$275
• Net cashflow: $569

Break-even live

Break-even rent $589

Max offer price $50,000

Occupancy floor 52%

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $130 · $1,560/yr

Listing history 20 events

1. 2026-05-07
   soldstatus Closed 634-char remark

   Show marketing remark (634 chars)

   If you want a Texas-size property with plenty of space to enjoy nature, don't miss this one. On 2 partially fenced lots shaded by beautiful hardwood trees sits a 1994 1330 sq ft single wide home longing for new owners to bring it back to its once lovely condition. Indian Harbor is a growing area with lots of new site-built homes. Close to shopping, restaurants and city conveniences. Eustace ISD. Community boat launch conveniently located at the end of Aztec. Great Investment opportunity for that weekend getaway or for rental. Property is in an estate and being SOLD AS IS. No utilities will be turned on due to needed repairs.

2. 2026-02-13
   listed $50,000 634-char remark

   Show marketing remark (634 chars)

   If you want a Texas-size property with plenty of space to enjoy nature, don't miss this one. On 2 partially fenced lots shaded by beautiful hardwood trees sits a 1994 1330 sq ft single wide home longing for new owners to bring it back to its once lovely condition. Indian Harbor is a growing area with lots of new site-built homes. Close to shopping, restaurants and city conveniences. Eustace ISD. Community boat launch conveniently located at the end of Aztec. Great Investment opportunity for that weekend getaway or for rental. Property is in an estate and being SOLD AS IS. No utilities will be turned on due to needed repairs.

3. 2026-02-13
   historical 634-char remark

   Show marketing remark (634 chars)

   If you want a Texas-size property with plenty of space to enjoy nature, don't miss this one. On 2 partially fenced lots shaded by beautiful hardwood trees sits a 1994 1330 sq ft single wide home longing for new owners to bring it back to its once lovely condition. Indian Harbor is a growing area with lots of new site-built homes. Close to shopping, restaurants and city conveniences. Eustace ISD. Community boat launch conveniently located at the end of Aztec. Great Investment opportunity for that weekend getaway or for rental. Property is in an estate and being SOLD AS IS. No utilities will be turned on due to needed repairs.

4. 2025-12-15
   soldstatus Closed 634-char remark

   Show marketing remark (634 chars)

   If you want a Texas-size property with plenty of space to enjoy nature, don't miss this one. On 2 partially fenced lots shaded by beautiful hardwood trees sits a 1994 1330 sq ft single wide home longing for new owners to bring it back to its once lovely condition. Indian Harbor is a growing area with lots of new site-built homes. Close to shopping, restaurants and city conveniences. Eustace ISD. Community boat launch conveniently located at the end of Aztec. Great Investment opportunity for that weekend getaway or for rental. Property is in an estate and being SOLD AS IS. No utilities will be turned on due to needed repairs.

5. 2025-09-02
   status Pending 634-char remark

   Show marketing remark (634 chars)

   If you want a Texas-size property with plenty of space to enjoy nature, don't miss this one. On 2 partially fenced lots shaded by beautiful hardwood trees sits a 1994 1330 sq ft single wide home longing for new owners to bring it back to its once lovely condition. Indian Harbor is a growing area with lots of new site-built homes. Close to shopping, restaurants and city conveniences. Eustace ISD. Community boat launch conveniently located at the end of Aztec. Great Investment opportunity for that weekend getaway or for rental. Property is in an estate and being SOLD AS IS. No utilities will be turned on due to needed repairs.

6. 2025-08-30
   status Pending
7. 2025-06-09
   price $50,000 634-char remark

   Show marketing remark (634 chars)

   If you want a Texas-size property with plenty of space to enjoy nature, don't miss this one. On 2 partially fenced lots shaded by beautiful hardwood trees sits a 1994 1330 sq ft single wide home longing for new owners to bring it back to its once lovely condition. Indian Harbor is a growing area with lots of new site-built homes. Close to shopping, restaurants and city conveniences. Eustace ISD. Community boat launch conveniently located at the end of Aztec. Great Investment opportunity for that weekend getaway or for rental. Property is in an estate and being SOLD AS IS. No utilities will be turned on due to needed repairs.

8. 2025-06-09
   status Active

   Show marketing remark (634 chars)

   If you want a Texas-size property with plenty of space to enjoy nature, don't miss this one. On 2 partially fenced lots shaded by beautiful hardwood trees sits a 1994 1330 sq ft single wide home longing for new owners to bring it back to its once lovely condition. Indian Harbor is a growing area with lots of new site-built homes. Close to shopping, restaurants and city conveniences. Eustace ISD. Community boat launch conveniently located at the end of Aztec. Great Investment opportunity for that weekend getaway or for rental. Property is in an estate and being SOLD AS IS. No utilities will be turned on due to needed repairs.

9. 2025-06-09
   price $50,000

   Show marketing remark (634 chars)

   If you want a Texas-size property with plenty of space to enjoy nature, don't miss this one. On 2 partially fenced lots shaded by beautiful hardwood trees sits a 1994 1330 sq ft single wide home longing for new owners to bring it back to its once lovely condition. Indian Harbor is a growing area with lots of new site-built homes. Close to shopping, restaurants and city conveniences. Eustace ISD. Community boat launch conveniently located at the end of Aztec. Great Investment opportunity for that weekend getaway or for rental. Property is in an estate and being SOLD AS IS. No utilities will be turned on due to needed repairs.

10. 2025-06-09
    status Active 634-char remark

    Show marketing remark (634 chars)

    If you want a Texas-size property with plenty of space to enjoy nature, don't miss this one. On 2 partially fenced lots shaded by beautiful hardwood trees sits a 1994 1330 sq ft single wide home longing for new owners to bring it back to its once lovely condition. Indian Harbor is a growing area with lots of new site-built homes. Close to shopping, restaurants and city conveniences. Eustace ISD. Community boat launch conveniently located at the end of Aztec. Great Investment opportunity for that weekend getaway or for rental. Property is in an estate and being SOLD AS IS. No utilities will be turned on due to needed repairs.

11. 2025-02-23
    status Pending 634-char remark

    Show marketing remark (634 chars)

    If you want a Texas-size property with plenty of space to enjoy nature, don't miss this one. On 2 partially fenced lots shaded by beautiful hardwood trees sits a 1994 1330 sq ft single wide home longing for new owners to bring it back to its once lovely condition. Indian Harbor is a growing area with lots of new site-built homes. Close to shopping, restaurants and city conveniences. Eustace ISD. Community boat launch conveniently located at the end of Aztec. Great Investment opportunity for that weekend getaway or for rental. Property is in an estate and being SOLD AS IS. No utilities will be turned on due to needed repairs.

12. 2024-11-27
    price $87,900 634-char remark

    Show marketing remark (634 chars)

    If you want a Texas-size property with plenty of space to enjoy nature, don't miss this one. On 2 partially fenced lots shaded by beautiful hardwood trees sits a 1994 1330 sq ft single wide home longing for new owners to bring it back to its once lovely condition. Indian Harbor is a growing area with lots of new site-built homes. Close to shopping, restaurants and city conveniences. Eustace ISD. Community boat launch conveniently located at the end of Aztec. Great Investment opportunity for that weekend getaway or for rental. Property is in an estate and being SOLD AS IS. No utilities will be turned on due to needed repairs.

13. 2024-11-27
    price $87,900

    Show marketing remark (634 chars)

    If you want a Texas-size property with plenty of space to enjoy nature, don't miss this one. On 2 partially fenced lots shaded by beautiful hardwood trees sits a 1994 1330 sq ft single wide home longing for new owners to bring it back to its once lovely condition. Indian Harbor is a growing area with lots of new site-built homes. Close to shopping, restaurants and city conveniences. Eustace ISD. Community boat launch conveniently located at the end of Aztec. Great Investment opportunity for that weekend getaway or for rental. Property is in an estate and being SOLD AS IS. No utilities will be turned on due to needed repairs.

14. 2024-10-23
    price $89,900 634-char remark

    Show marketing remark (634 chars)

    If you want a Texas-size property with plenty of space to enjoy nature, don't miss this one. On 2 partially fenced lots shaded by beautiful hardwood trees sits a 1994 1330 sq ft single wide home longing for new owners to bring it back to its once lovely condition. Indian Harbor is a growing area with lots of new site-built homes. Close to shopping, restaurants and city conveniences. Eustace ISD. Community boat launch conveniently located at the end of Aztec. Great Investment opportunity for that weekend getaway or for rental. Property is in an estate and being SOLD AS IS. No utilities will be turned on due to needed repairs.

15. 2024-10-23
    price $89,900

    Show marketing remark (634 chars)

    If you want a Texas-size property with plenty of space to enjoy nature, don't miss this one. On 2 partially fenced lots shaded by beautiful hardwood trees sits a 1994 1330 sq ft single wide home longing for new owners to bring it back to its once lovely condition. Indian Harbor is a growing area with lots of new site-built homes. Close to shopping, restaurants and city conveniences. Eustace ISD. Community boat launch conveniently located at the end of Aztec. Great Investment opportunity for that weekend getaway or for rental. Property is in an estate and being SOLD AS IS. No utilities will be turned on due to needed repairs.

16. 2024-07-01
    price $99,900 634-char remark

    Show marketing remark (634 chars)

    If you want a Texas-size property with plenty of space to enjoy nature, don't miss this one. On 2 partially fenced lots shaded by beautiful hardwood trees sits a 1994 1330 sq ft single wide home longing for new owners to bring it back to its once lovely condition. Indian Harbor is a growing area with lots of new site-built homes. Close to shopping, restaurants and city conveniences. Eustace ISD. Community boat launch conveniently located at the end of Aztec. Great Investment opportunity for that weekend getaway or for rental. Property is in an estate and being SOLD AS IS. No utilities will be turned on due to needed repairs.

17. 2024-07-01
    price $99,900

    Show marketing remark (634 chars)

    If you want a Texas-size property with plenty of space to enjoy nature, don't miss this one. On 2 partially fenced lots shaded by beautiful hardwood trees sits a 1994 1330 sq ft single wide home longing for new owners to bring it back to its once lovely condition. Indian Harbor is a growing area with lots of new site-built homes. Close to shopping, restaurants and city conveniences. Eustace ISD. Community boat launch conveniently located at the end of Aztec. Great Investment opportunity for that weekend getaway or for rental. Property is in an estate and being SOLD AS IS. No utilities will be turned on due to needed repairs.

18. 2024-05-30
    listed $109,000 Active
19. 2024-05-29
    listed $109,000 Active 634-char remark

    Show marketing remark (634 chars)

    If you want a Texas-size property with plenty of space to enjoy nature, don't miss this one. On 2 partially fenced lots shaded by beautiful hardwood trees sits a 1994 1330 sq ft single wide home longing for new owners to bring it back to its once lovely condition. Indian Harbor is a growing area with lots of new site-built homes. Close to shopping, restaurants and city conveniences. Eustace ISD. Community boat launch conveniently located at the end of Aztec. Great Investment opportunity for that weekend getaway or for rental. Property is in an estate and being SOLD AS IS. No utilities will be turned on due to needed repairs.

20. 1998-06-03
    soldstatus $8,000

ⓘ 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: $626 · $52/mo
• Projected year-2 tax: $915 · $76/mo
• Expected delta: +$289/yr (+$24/mo · 46.2%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 26 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 61% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,715
• − Mortgage interest: −$2,801
• − Property taxes: −$626
• − Insurance: −$250
• − Repairs & maintenance: −$1,257
• − Management: −$1,257
• − HOA: −$1,560
• − Depreciation: −$1,455
• Taxable income: $6,509
• Est. tax owed @ 24.0%: −$1,562
• After-tax cash flow: $5,270/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: Eustace ISD
• NCES district ID: 4818720
• Math proficiency: 32% ▼ -18.00%
• Reading proficiency: 45% ▼ -7.00%
• Median HH income: $42,425
• Composite: 32.48/100
• National rank: #5711
• State rank: #455 of 826 in TX

Livability — Enchanted Oaks

• Score: 60/100
• State rank: #1103
• US rank: #19536

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Henderson County · 34,977 people
• Metro: Athens, TX
• Population (ZIP): 16,333
• Household income: $60,867
• Rent vs Own: 18.5% rent · 81.5% own
• Severe rent burden: 400.0

Population outlook (Henderson County) Hauer SSP2

• Today (2025): 80,471 people
• By 2030: 80,608 · +0.2%
• By 2040: 80,087 · -0.5%
• By 2050: 78,208 · -2.8%
• By 2075: 72,423 · -10.0%
• By 2100: 61,012 · -24.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Hispanic / Latino 7% Two or more races 7% Black 1%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Slovak 3% Serbian 2% European 2%
• Foreign-born: 4% · Canada, Jamaica
• Languages at home: 94% English-only · Spanish 4% Other Indo-European 1%

Political lean MEDSL · Henderson

• 2024 margin: Solid R (+63.5) · D 18.0% · R 81.4%
• 2008→2024 swing: -18.8pp toward R · 2008: -44.6pp · 2024: -63.5pp
• All cycles: 2024: R+63.5 2020: R+60.2 2016: R+60.0 2012: R+54.8 2008: R+44.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -216.77%
• Current HPI: 199.8108
• Rent YoY: ▼ -5.76%
• Metro: Athens, TX
• 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

+525.0% since first listed

20 events — show timeline

• 2026-05-07 Sold (MLS) — NTREIS
• 2026-02-13 Listing Removed — NTREIS
• 2026-02-13 Listed $50,000 NTREIS
• 2025-12-15 Sold (MLS) — NTREIS
• 2025-09-02 Pending — NTREIS
• 2025-08-30 Pending — HCBOR
• 2025-06-09 Price Changed $50,000 NTREIS
• 2025-06-09 Relisted — HCBOR
• 2025-06-09 Price Changed $50,000 HCBOR
• 2025-06-09 Relisted — NTREIS
• 2025-02-23 Pending — NTREIS
• 2024-11-27 Price Changed $87,900 NTREIS
• 2024-11-27 Price Changed $87,900 HCBOR
• 2024-10-23 Price Changed $89,900 NTREIS
• 2024-10-23 Price Changed $89,900 HCBOR
• 2024-07-01 Price Changed $99,900 NTREIS
• 2024-07-01 Price Changed $99,900 HCBOR
• 2024-05-30 Listed $109,000 HCBOR
• 2024-05-29 Listed $109,000 NTREIS
• 1998-06-03 Sold (Public Records) $8,000 Public Records

Property tax history

+9.2%/yr

Latest (2025): $626 · +0.1% YoY. Source: county tax records.