1720 Coral Rd · Pelican Bay, TX 76020

$88,600

3 bd · 2.0 ba · 1,152 sqft · Manufactured public records · 17 Days on market

Built 2023 Good condition 10,402 sqft lot Est $173k · 49% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Condition / age +4.0/5.0
• Schools +3.6/10.0
• Rent growth +3.1/5.0
• Livability +3.1/5.0
• Appreciation +0.0/10.0

Listing remarks

Manufactured Home Built 2023 3 bed 2 bath Home only for sale - land not included

Key facts

• 0.24 acre lot
• Built 2023
• Listed 17 days

Property features AI

Exterior

• Home design: Single-family house
• Construction: Approximately 1,152 square feet of living area
• Exterior features: Lot of approximately 10,402 sq ft

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $89k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $761 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $89k).
• Recommended offer: $87k (1.5% below list) — sets the bar for market timing.
• Cap rate 16.6% vs local median 6.4% in Pelican Bay — 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 62/100 on livability (#917 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: health & safety D+, schools F, amenities F.
• Azle ISD (suburban): math 37% / reading 43% proficiency, ranked #351 of 826 in TX (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.3%/yr); 594 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 18,938 units permitted in Tarrant County in 2024 (8,336 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $613 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Tarrant County population projected at +41% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 2.3% rent growth), your $25k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($87k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $87,271 (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. 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?
3. 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.
4. 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.
5. 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: 1.88% ✓
• Cap rate: 16.60%
• Cash-on-cash: 36.82%
• DSCR: 2.64
• GRM: 4.4

CMA / ARV

• ARV (on-the-fly): $172,800
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1704 Coral Rd	0.05mi	3/2.0	1,178 (+2%)	15mo	$180,950	$154	82
1821 Gale Dr	0.20mi	3/2.0	1,216 (+6%)	1mo	$183,000	$150	80
1405 Cardinal Ter	0.30mi	3/2.0	1,216 (+6%)	6mo	$125,000	$103	72
1413 Dawn Dr N	0.42mi	3/2.0	1,216 (+6%)	3mo	$150,000	$123	69
1521 Lark Ct	0.45mi	3/2.0	1,216 (+6%)	2mo	$185,000	$152	68
1609 Quail Run	0.46mi	3/2.0	1,152 (0%)	15mo	$174,900	$152	66
1413 Whippoorwill Way	0.49mi	2/2.0 (-1)	1,144 (-1%)	8mo	$115,000	$101	64
1605 Sheri Ct	0.56mi	3/2.0	1,216 (+6%)	5mo	$185,000	$152	60
1552 Chaparral Ln	0.69mi	3/2.0	1,216 (+6%)	1mo	$185,000	$152	58
1813 Gale Dr	0.19mi	4/3.0 (+1)	1,024 (-11%)	11mo	$120,000	$117	54
1505 Mockingbird Ln	0.51mi	3/2.0	1,232 (+7%)	14mo	$159,500	$129	53
1404 Dawn Dr N	0.46mi	2/1.5 (-1)	980 (-15%)	7mo	$70,000	$71	40

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 2.31% rent growth · sell at horizon

5-year hold

• IRR: 31.9%
• Equity multiple: 2.33×
• Total profit: $32,972
• Equity at exit: $13,211

10-year hold

• IRR: 38.6%
• Equity multiple: 4.49×
• Total profit: $86,459
• Equity at exit: $7,661

Cash invested: $24,808 (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 76020

• Home prices YoY: -20.6%
• Rents YoY: 2.3%
• Active inventory: 594
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $1,662 high
• Mortgage (P&I): −$465
• Tax from tax record: −$50 /mo · $605/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$349
• Net cashflow: $761

Break-even live

Break-even rent $699

Max offer price $88,600

Occupancy floor 49%

Sensitivity live

Price	-10% $811	-5% $786	+0% $761	+5% $736	+10% $711
Rent	-10% $630	-5% $696	+0% $761	+5% $827	+10% $893
Rate	-1.0pp $806	-0.5pp $784	base $761	+0.5pp $738	+1.0pp $715

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: $22,150
• Closing costs: $2,658
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1844 Sheila Dr Azle, TX	3.0	2.0	1319	$1,645	$1.25	0d	1	0.15mi
1920 Reef Ct Azle, TX	3.0	2.0	1090	$1,449	$1.33	45d	1	0.28mi
1620 Mockingbird Ln Azle, TX	3.0	2.0	1090	$1,499	$1.38	22d	1	0.54mi
11124 Liberty School Rd Unit 24B Azle, TX	2.0	2.0	700	$999	$1.43	23d	1	0.55mi
1324 White Sand Dr Azle, TX	3.0	2.0	1149	$1,650	$1.44	6d	1	0.55mi
1329 Fox Hollow Ct Azle, TX	2.0	1.0	924	$900	$0.97	7d	1	0.56mi
1408 Yachtclub Dr Azle, TX	3.0	2.0	1302	$2,000	$1.54	14d	1	0.56mi
11128 Liberty School Rd Unit 28A Azle, TX	2.0	2.0	700	$1,050	$1.50	26d	1	0.56mi
1300 White Sand Dr Unit 1304 Azle, TX	3.0	2.0	1149	$1,695	$1.48	45d	1	0.58mi
1304 White Sand Dr Azle, TX	3.0	2.0	1149	$1,695	$1.48	45d	1	0.60mi

Listing history 12 events

1. 2026-06-21
   days on market $88,600 Active 17 DOM
2. 2026-06-18
   days on market $88,600 Active 14 DOM
3. 2026-06-17
   days on market $88,600 Active 13 DOM
4. 2026-06-16
   days on market $88,600 Active 12 DOM
5. 2026-06-15
   days on market $88,600 Active 11 DOM
6. 2026-06-13
   days on market $88,600 Active 9 DOM
7. 2026-06-13
   days on market $88,600 Active 8 DOM
8. 2026-06-09
   days on market $88,600 Active 5 DOM
9. 2026-06-08
   days on market $88,600 Active 4 DOM
10. 2026-06-07
    days on market $88,600 Active 3 DOM
11. 2026-06-04
    remarks 81-char remark
12. 2026-06-04
    listed $88,600 Active 1 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: $605 · $50/mo
• Projected year-2 tax: $1,621 · $135/mo
• Expected delta: +$1,016/yr (+$85/mo · 167.8%)

ⓘ 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 ≥109°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 24% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,949
• − Mortgage interest: −$4,963
• − Property taxes: −$605
• − Insurance: −$443
• − Repairs & maintenance: −$1,596
• − Management: −$1,596
• − Depreciation: −$2,577
• Taxable income: $8,168
• Est. tax owed @ 24.0%: −$1,960
• After-tax cash flow: $7,175/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 · 6 photos

Good 80/100 Cosmetic rehab

This manufactured home is in good condition with minor repairs and maintenance needed. Upgrading the flooring and paint can significantly increase its resale value.

Repairs flagged

• Minor Kitchen flooring — The flooring appears dated and could be replaced with a more modern option.
• Minor Bathroom paint — The paint appears slightly worn and could be refreshed with a fresh coat.
• Minor Landscaping — The landscaping is minimal and could be improved with some additional plants and shrubs to enhance curb appeal.

Value-add opportunities

• Resale New flooring in the kitchen — New flooring can significantly enhance the appeal of the kitchen and increase the home's resale value.
• Resale Fresh paint in the bathrooms — Fresh paint can make the bathrooms look more inviting and increase the home's resale value.
• Both Landscaping improvements — Landscaping improvements can enhance the curb appeal and increase both the resale and rental value of the home.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen flooring · The flooring appears dated and could be replaced with a more modern option.	Minor	$500–3,000
Bathroom paint · The paint appears slightly worn and could be refreshed with a fresh coat.	Minor	$500–3,000
Landscaping · The landscaping is minimal and could be improved with some additional plants and shrubs to enhance curb appeal.	Minor	$500–3,000
Total estimated repair cost · 3 items		$1,500–9,000

Value-add ROI direction

• Resale New flooring in the kitchen — New flooring can significantly enhance the appeal of the kitchen and increase the home's resale value. ↑
• Resale Fresh paint in the bathrooms — Fresh paint can make the bathrooms look more inviting and increase the home's resale value. ↑
• Both Landscaping improvements — Landscaping improvements can enhance the curb appeal and increase both the resale and rental value of the home. ↑

ⓘ 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: Azle ISD
• NCES district ID: 4809200
• Math proficiency: 37% ▼ -11.00%
• Reading proficiency: 43% ▼ -5.00%
• Median HH income: $61,473
• Composite: 35.57/100
• National rank: #4900
• State rank: #351 of 826 in TX

Livability — Pelican Bay

• Score: 62/100
• State rank: #917
• US rank: #16376

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pelican Bay, TX
• County: Parker County · 144,797 people
• Metro: Dallas-Fort Worth-Arlington, TX
• Population (ZIP): 34,602
• Household income: $87,298
• Rent vs Own: 22.3% rent · 77.7% own
• Severe rent burden: 433.0

Population outlook (Tarrant County) Hauer SSP2

• Today (2025): 2,380,417 people
• By 2030: 2,578,900 · +8.3%
• By 2040: 2,974,995 · +25.0%
• By 2050: 3,350,489 · +40.8%
• By 2075: 4,216,909 · +77.2%
• By 2100: 4,741,527 · +99.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Hispanic / Latino 18% Two or more races 9% Black 1%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Slovak 2% Italian 1% Portuguese 1%
• Foreign-born: 5% · Canada
• Languages at home: 89% English-only · Spanish 11%

Political lean MEDSL · Tarrant

• 2024 margin: Lean R (+5.1) · D 46.7% · R 51.9% · Other 1.4%
• 2008→2024 swing: +6.6pp toward D · 2008: -11.7pp · 2024: -5.1pp
• All cycles: 2024: R+5.1 2020: D+0.2 2016: R+8.7 2012: R+15.7 2008: R+11.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -74.72%
• Current HPI: 287.155
• Rent YoY: ▲ 2.31%
• 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

• 2026-06-04 Listed $88,600 ForSaleByOwner.com