1352 Linda

Canyon Lake, TX 78133

$195,000D+

5 bd · 3.0 ba · 840 sqft · Built 1970 · Manufactured · Active · 128 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,481/mo
• Mortgage (P&I): −$1,023
• Tax + insurance: −$133
• HOA: −$0
• Vac / Maint / Mgmt: −$311
• Net cashflow: $15/mo
• Annual: $179/yr
• Cap rate: 6.38%
• Cash-on-cash: 0.33%
• DSCR: 1.01
• 1% rule: 0.76%
• Cash to close: $54,600

Investor read

• This is a 5-bed/3.0-bath manufactured listed at $195k. Condition is rated fair.
• At list price, monthly cash flow is $15 ($179/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $148k (24.0% below list).
• It's been on market 128 days — a 12% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $148k (24.0% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 67/100 on livability (#534 in TX) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, cost of living A; Watch: amenities F, commute F, health & safety F.
• Comal ISD (rural): math 57% / reading 59% proficiency, ranked #58 of 826 in TX (top 7%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Rebecca Creek El (math 55% / reading 52%, grade C, #686 of 4,322 statewide, top 16%, 605 students, 51% FRL); Mt Valley Middle (math 55% / reading 51%, grade C+, #281 of 1,662 statewide, top 18%, 808 students, 49% FRL); Canyon Lake H S (math 46% / reading 56%, grade D+, #482 of 1,632 statewide, top 30%, 1,038 students, 37% FRL) — zoned schools average 46% FRL vs 31% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-1.2%/yr); 1169 active listings in the ZIP; solid renter incomes; 3,420 units permitted in Comal County in 2024 (1,164 in 5+ unit buildings).
• Comal County population projected at +70% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 4 sale attempts since 6y ago; this cycle's ask has dropped $15k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Climate carrying-cost: major wind risk, 73% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.4% vs local median 2.3% in Canyon Lake — 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 128 days. Have you received any prior offers? Is the seller open to a 24% 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?
• Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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 — outdated design
• Minor: exterior siding — some discoloration