East · Waxahachie, TX 75165

$81,900

3 bd · 2.0 ba · 1,216 sqft · Other · 23 Days on market

Built 2022 Fair condition

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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 +3.9/10.0
• Livability +3.9/5.0
• Rent growth +3.4/5.0
• Condition / age +2.0/5.0
• Appreciation +0.0/10.0

Listing remarks

This stunning home is a great value and energy efficient. Featuring 3 bedrooms, 2 bathrooms, and a modern open-concept floor plan, this home is designed for comfortable living and entertainment. Call today or go by Vista Hills Manufactured Housing Community for your in-person tour!

Key facts

• Built 2022
• Listed 23 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $82k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $921 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $82k).
• Recommended offer: $81k (1.5% below list) — sets the bar for market timing.
• Cap rate 19.8% vs local median 3.3% in Waxahachie — 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 78/100 on livability (#71 in TX, #2,592 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment A-; Watch: commute F.
• Waxahachie ISD (suburban): math 45% / reading 44% proficiency, ranked #253 of 826 in TX (top 31%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.4%/yr); 854 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 3,016 units permitted in Ellis County in 2024 (20 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $566 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Ellis County population projected at +36% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.4% rent growth), your $23k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($81k) is reasonable based on typical stale-listing flexibility.

Recommended offer $80,671 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. 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.
5. 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.
6. 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: 2.30% ✓
• Cap rate: 19.78%
• Cash-on-cash: 48.18%
• DSCR: 3.14
• GRM: 3.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.4% rent growth · sell at horizon

5-year hold

• IRR: 46.1%
• Equity multiple: 3.01×
• Total profit: $46,160
• Equity at exit: $12,212

10-year hold

• IRR: 52.1%
• Equity multiple: 6.19×
• Total profit: $118,969
• Equity at exit: $7,081

Cash invested: $22,932 (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 75165

• Home prices YoY: -24.5%
• Rents YoY: 3.4%
• Active inventory: 854
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $1,882 high
• Mortgage (P&I): −$429
• Tax est. 1.5%: −$102 /mo · $1,228/yr
• Insurance: −$34
• HOA: −$0
• Vacancy / Maint / Mgmt: −$395
• Net cashflow: $921

Break-even live

Break-even rent $716

Max offer price $81,900

Occupancy floor 46%

Sensitivity live

Price	-10% $977	-5% $949	+0% $921	+5% $892	+10% $864
Rent	-10% $772	-5% $846	+0% $921	+5% $995	+10% $1,069
Rate	-1.0pp $962	-0.5pp $942	base $921	+0.5pp $900	+1.0pp $878

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: $20,475
• Closing costs: $2,457
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1301 W Highway 287 Byp Waxahachie, TX	2.0	1.0	856	$1,375	$1.61	2d	1	0.90mi
1250 U.S. 287 Waxahachie, TX	1.0–3.0	1.0–2.0	1042	$2,319	$2.22	0d	18	0.91mi
155 Lakeside Dr Waxahachie, TX	1.0–3.0	1.0–2.0	990	$1,999	$2.02	0d	6	1.00mi
105 Trey Ct Waxahachie, TX	3.0	2.0	1288	$2,050	$1.59	25d	1	1.05mi
105 Lance Dr Waxahachie, TX	3.0	2.0	1152	$1,625	$1.41	22d	1	1.07mi
105 Lance Dr Waxahachie, TX	3.0	2.0	1152	$1,625	$1.41	44d	1	1.07mi
1831 John Arden Dr Waxahachie, TX	1.0–2.0	1.0–2.0	751	$1,487	$1.98	2d	14	1.22mi
1831 John Arden Dr Waxahachie, TX	1.0–2.0	1.0–2.0	751	$1,757	$2.34	44d	16	1.22mi
380 Solon Rd Waxahachie, TX	1.0–2.0	1.0–2.0	987	$1,725	$1.75	0d	4	1.29mi
100 Northgate Dr Waxahachie, TX	2.0–3.0	1.5–2.0	948	$1,600	$1.69	16d	1	1.38mi
117 Solon Rd Waxahachie, TX	3.0	2.0	1270	$1,700	$1.34	44d	1	1.44mi

Listing history 15 events

1. 2026-06-18
   days on market $81,900 Active 23 DOM
2. 2026-06-17
   pricedays on market $81,900 Active 22 DOM
3. 2026-06-16
   days on market $79,900 Active 21 DOM
4. 2026-06-15
   days on market $79,900 Active 20 DOM
5. 2026-06-13
   days on market $79,900 Active 18 DOM
6. 2026-06-13
   days on market $79,900 Active 17 DOM
7. 2026-06-09
   days on market $79,900 Active 14 DOM
8. 2026-06-08
   days on market $79,900 Active 13 DOM
9. 2026-06-07
   days on market $79,900 Active 12 DOM
10. 2026-06-04
    days on market $79,900 Active 9 DOM
11. 2026-06-03
    days on market $79,900 Active 8 DOM
12. 2026-06-02
    days on market $79,900 Active 7 DOM
13. 2026-06-01
    days on market $79,900 Active 6 DOM
14. 2026-05-31
    days on market $79,900 Active 5 DOM
15. 2026-05-26
    listed $79,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $22,583
• − Mortgage interest: −$4,588
• − Property taxes: −$1,228
• − Insurance: −$410
• − Repairs & maintenance: −$1,807
• − Management: −$1,807
• − Depreciation: −$2,383
• Taxable income: $10,362
• Est. tax owed @ 24.0%: −$2,487
• After-tax cash flow: $8,562/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.

Condition & rehab AI · 0 photos

Fair 40/100 Moderate rehab

This home requires significant renovations to improve its condition and increase its resale and rental value.

Repairs flagged

• Major Kitchen countertops and cabinets — The countertops and cabinets are visibly worn and need replacement.
• Major Bathroom fixtures — The bathroom fixtures are outdated and need replacement.
• Major Flooring — The flooring is worn and may need replacement.
• Major Interior walls — The interior walls need repainting to improve appearance.
• Major Exterior siding — The exterior siding needs repainting or replacement.
• Major Windows — The windows are old and need replacement.

Value-add opportunities

• Resale Kitchen renovation — A modern kitchen will attract more buyers and increase the home's value.
• Resale Bathroom updates — Upgrading bathrooms will improve the home's appeal and increase its value.
• Resale Flooring replacement — New flooring will enhance the home's appearance and increase its value.
• Resale Exterior painting — A fresh coat of paint will improve the home's curb appeal and increase its value.
• Both HVAC system replacement — A new HVAC system will improve comfort and energy efficiency, benefiting both resale and rental value.
• Resale Landscaping and curb appeal — Enhanced landscaping will improve the home's curb appeal and attract more buyers.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen countertops and cabinets · The countertops and cabinets are visibly worn and need replacement.	Major	$15,000–50,000
Bathroom fixtures · The bathroom fixtures are outdated and need replacement.	Major	$15,000–50,000
Flooring · The flooring is worn and may need replacement.	Major	$15,000–50,000
Interior walls · The interior walls need repainting to improve appearance.	Major	$15,000–50,000
Exterior siding · The exterior siding needs repainting or replacement.	Major	$15,000–50,000
Windows · The windows are old and need replacement.	Major	$15,000–50,000
Total estimated repair cost · 6 items		$90,000–300,000

Value-add ROI direction

• Resale Kitchen renovation — A modern kitchen will attract more buyers and increase the home's value. ↑
• Resale Bathroom updates — Upgrading bathrooms will improve the home's appeal and increase its value. ↑
• Resale Flooring replacement — New flooring will enhance the home's appearance and increase its value. ↑
• Resale Exterior painting — A fresh coat of paint will improve the home's curb appeal and increase its value. ↑
• Both HVAC system replacement — A new HVAC system will improve comfort and energy efficiency, benefiting both resale and rental value. ↑
• Resale Landscaping and curb appeal — Enhanced landscaping will improve the home's curb appeal and attract more buyers. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Waxahachie ISD
• NCES district ID: 4844730
• Math proficiency: 45% ▼ -7.00%
• Reading proficiency: 44% ▼ -6.00%
• Median HH income: $59,434
• Composite: 39.14/100
• National rank: #4034
• State rank: #253 of 826 in TX

Livability — Waxahachie

• Score: 78/100
• State rank: #71
• US rank: #2592

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Waxahachie, TX
• County: Ellis County · 199,237 people
• City population: 67,417
• Metro: Dallas-Fort Worth-Arlington, TX
• Population (ZIP): 53,513
• Household income: $86,391
• Rent vs Own: 34.0% rent · 66.0% own
• Severe rent burden: 1365.0

Population outlook (Ellis County) Hauer SSP2

• Today (2025): 194,556 people
• By 2030: 209,679 · +7.8%
• By 2040: 238,837 · +22.8%
• By 2050: 265,451 · +36.4%
• By 2075: 326,571 · +67.9%
• By 2100: 362,156 · +86.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 56% Hispanic / Latino 26% Black 14% Two or more races 13%
• Hispanic origin (detail): Mexican 22%
• Common ancestry: Slovak 2% Lithuanian 2% Italian 2%
• Foreign-born: 7% · Canada
• Languages at home: 84% English-only · Spanish 15%

Political lean MEDSL · Ellis

• 2024 margin: Solid R (+31.1) · D 34.0% · R 65.1%
• 2008→2024 swing: +11.2pp toward D · 2008: -42.2pp · 2024: -31.1pp
• All cycles: 2024: R+31.1 2020: R+34.1 2016: R+45.4 2012: R+47.5 2008: R+42.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -82.58%
• Current HPI: 255.0247
• Rent YoY: ▲ 3.40%
• Metro: Dallas-Fort Worth-Arlington, 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

1 event — show timeline

• 2026-05-26 Listed $79,900 FSBO.com