112 N Vivian Stevens St

Magnolia Beach, TX 77979

$159,900C-

4 bd · 2.0 ba · 1,980 sqft · Built 2020 · Manufactured · Active · 59 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,501/mo
• Mortgage (P&I): −$839
• Tax + insurance: −$196
• HOA: −$0
• Vac / Maint / Mgmt: −$315
• Net cashflow: $151/mo
• Annual: $1,817/yr
• Cap rate: 7.93%
• Cash-on-cash: 5.84%
• DSCR: 1.26
• 1% rule: 0.94%
• Cash to close: $44,772

Investor read

• This is a 4-bed/2.0-bath manufactured listed at $160k.
• At list price, monthly cash flow is $151 ($2k/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 $150k (6.1% below list).
• It's been on market 59 days — a 3% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $150k (6.1% 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 $5k of value loss. Plan a longer hold.
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Calhoun County ISD (town): math 44% / reading 43% proficiency, ranked #293 of 826 in TX (top 36%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: flood insurance adds $66/mo.
• Market conditions: 282 active listings in the ZIP; 95 units permitted in Calhoun County in 2024 (0 in 5+ unit buildings).
• Calhoun County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 2 sale attempts; this cycle's ask has dropped $20k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Climate carrying-cost: severe flood risk; severe wind risk, 99% 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.

Questions for listing agent

• It's been on market 59 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.