2601 Robinson Dr #48 · Waco, TX 76706

$120,000

3 bd · 2.0 ba · 1,216 sqft · Manufactured public records · 365 Days on market

Built 2022 Good condition ↓ 19% since listing

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Why this score? — see what drove the C+ 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 +26.2/30.0
• DSCR +8.9/10.0
• 1% rule +7.7/10.0
• ARV discount +7.5/15.0
• Condition / age +4.0/5.0
• Livability +3.7/5.0
• Rent growth +3.0/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This beautiful Palm Harbor home is situated on a leased lot (paid monthly: 254-772-7573 to confirm the current lot lease amount) in a welcoming community with a managed by Alta Vista association and access to an outdoor pool! This beautiful 3-bedroom, 2-bath mobile home boasts a modern kitchen and an inviting living room; all 1,178 square feet are perfect for both everyday living and entertaining. A separate dining room provides a dedicated space for meals. For your convenience, a dedicated laundry room comes equipped with a full-size washer and dryer. Extra features include a length of 76', a width of 15'6, 1 section, 1 story, and a ranch-style design. Call today.

Key facts

• Separate dining room
• Inviting living room
• Modern kitchen

Tags

• MODERN KITCHEN
• INVITING LIVING ROOM
• SEPARATE DINING ROOM
• DEDICATED LAUNDRY ROOM

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $120k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $306 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $106k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.4% vs local median 3.9% in Waco — 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 74/100 on livability (#166 in TX, #4,378 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D, crime D, commute F.
• Waco ISD (urban): math 20% / reading 24% proficiency, ranked #773 of 826 in TX (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 81% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+1.9%/yr); 317 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,014 units permitted in McLennan County in 2024 (200 in 5+ unit buildings).
• This rent runs 44% of the median local income ($42k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $830 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• McLennan County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 365 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 76% 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.

Recommended offer $105,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 365 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.27% ✓
• Cap rate: 9.35%
• Cash-on-cash: 10.92%
• DSCR: 1.49
• GRM: 6.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.86% rent growth · sell at horizon

5-year hold

• IRR: -1.3%
• Equity multiple: 0.95×
• Total profit: $-1,635
• Equity at exit: $17,892

10-year hold

• IRR: 7.1%
• Equity multiple: 1.51×
• Total profit: $16,984
• Equity at exit: $10,375

Cash invested: $33,600 (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 76706

• Home prices YoY: -29.1%
• Rents YoY: 1.9%
• Active inventory: 317
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,525 high
• Mortgage (P&I): −$629
• Tax from tax record: −$219 /mo · $2,634/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$320
• Net cashflow: $306

Break-even live

Break-even rent $1,138

Max offer price $120,000

Occupancy floor 75%

Sensitivity live

Price	-10% $374	-5% $340	+0% $306	+5% $272	+10% $238
Rent	-10% $185	-5% $246	+0% $306	+5% $366	+10% $426
Rate	-1.0pp $366	-0.5pp $336	base $306	+0.5pp $275	+1.0pp $243

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3411 Pewitt Dr #3413 Waco, TX	2.0	1.0	1000	$1,350	$1.35	22d	1	0.22mi
3430 Pewitt Dr Waco, TX	2.0	1.0	916	$1,150	$1.26	44d	1	0.29mi
3447 Pewitt Dr Waco, TX	2.0	1.0	907	$1,350	$1.49	14d	1	0.29mi
3200 Belmont Dr Unit 3228 Waco, TX	2.0	2.0	995	$1,500	$1.51	14d	1	0.55mi
3319 Wingate Dr Waco, TX	2.0	1.0	768	$950	$1.24	22d	1	0.70mi
1800 Primrose Dr Waco, TX	1.0–4.0	1.0–2.0	942	$1,133	$1.20	14d	33	0.85mi
3001 S New Rd Waco, TX	1.0–3.0	1.0–2.0	885	$1,645	$1.86	14d	15	0.98mi
1628 Ewing Ave Waco, TX	3.0	2.0	1472	$2,400	$1.63	14d	1	1.02mi
3717 Charlton Ave Waco, TX	2.0	1.0	870	$1,195	$1.37	44d	1	1.17mi
4009 James Ave Waco, TX	3.0	1.0	1056	$1,495	$1.42	22d	1	1.24mi
1912 S 15th St Unit A Waco, TX	4.0	2.0	1400	$1,850	$1.32	22d	1	1.36mi
2601 Flint Ave Waco, TX	3.0	2.0	1356	$1,720	$1.27	44d	1	1.38mi
1905 S 14th St Unit B Waco, TX	4.0	4.0	1200	$550	$0.46	22d	1	1.39mi
1905 S 14th St Waco, TX	4.0	4.0	1500	$3,000	$2.00	22d	1	1.39mi
2021 Gurley Ave Waco, TX	3.0	2.0	1320	$1,500	$1.14	22d	1	1.41mi

Listing history 14 events

1. 2026-06-13
   days on market $120,000 Active 365 DOM
2. 2026-06-10
   days on market $120,000 Active 363 DOM
3. 2026-06-09
   days on market $120,000 Active 362 DOM
4. 2026-06-08
   days on market $120,000 Active 361 DOM
5. 2026-06-07
   days on market $120,000 Active 360 DOM
6. 2026-06-05
   days on market $120,000 Active 357 DOM
7. 2026-06-03
   days on market $120,000 Active 356 DOM
8. 2026-06-02
   days on market $120,000 Active 355 DOM
9. 2026-06-01
   days on market $120,000 Active 354 DOM
10. 2026-05-31
    days on market $120,000 Active 353 DOM
11. 2026-05-30
    days on market $120,000 Active 352 DOM
12. 2025-11-10
    price $120,000 673-char remark

    Show marketing remark (673 chars)

    This beautiful Palm Harbor home is situated on a leased lot (paid monthly: 254-772-7573 to confirm the current lot lease amount) in a welcoming community with a managed by Alta Vista association and access to an outdoor pool! This beautiful 3-bedroom, 2-bath mobile home boasts a modern kitchen and an inviting living room; all 1,178 square feet are perfect for both everyday living and entertaining. A separate dining room provides a dedicated space for meals. For your convenience, a dedicated laundry room comes equipped with a full-size washer and dryer. Extra features include a length of 76', a width of 15'6, 1 section, 1 story, and a ranch-style design. Call today.

13. 2025-07-26
    price $138,000 673-char remark

    Show marketing remark (673 chars)

    This beautiful Palm Harbor home is situated on a leased lot (paid monthly: 254-772-7573 to confirm the current lot lease amount) in a welcoming community with a managed by Alta Vista association and access to an outdoor pool! This beautiful 3-bedroom, 2-bath mobile home boasts a modern kitchen and an inviting living room; all 1,178 square feet are perfect for both everyday living and entertaining. A separate dining room provides a dedicated space for meals. For your convenience, a dedicated laundry room comes equipped with a full-size washer and dryer. Extra features include a length of 76', a width of 15'6, 1 section, 1 story, and a ranch-style design. Call today.

14. 2025-06-12
    listed $149,000 Active 673-char remark

    Show marketing remark (673 chars)

    This beautiful Palm Harbor home is situated on a leased lot (paid monthly: 254-772-7573 to confirm the current lot lease amount) in a welcoming community with a managed by Alta Vista association and access to an outdoor pool! This beautiful 3-bedroom, 2-bath mobile home boasts a modern kitchen and an inviting living room; all 1,178 square feet are perfect for both everyday living and entertaining. A separate dining room provides a dedicated space for meals. For your convenience, a dedicated laundry room comes equipped with a full-size washer and dryer. Extra features include a length of 76', a width of 15'6, 1 section, 1 story, and a ranch-style design. Call today.

ⓘ 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: $2,634 · $219/mo
• Projected year-2 tax: $2,634 · $219/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 22 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 76% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,297
• − Mortgage interest: −$6,722
• − Property taxes: −$2,634
• − Insurance: −$600
• − Repairs & maintenance: −$1,464
• − Management: −$1,464
• − Depreciation: −$3,491
• Taxable income: $1,923
• Est. tax owed @ 24.0%: −$461
• After-tax cash flow: $3,208/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 · 12 photos

Good 80/100 Cosmetic rehab

This well-maintained mobile home is move-in ready with modern appliances and a good condition. It offers a good return on investment with minor updates.

Value-add opportunities

• Both painting interior walls — fresh paint enhances curb appeal and interior aesthetics
• Both upgrading flooring — new flooring can increase both resale and rental value
• Both upgrading appliances — modern appliances can attract more buyers and renters

Renovation cost estimate screening

Value-add ROI direction

• Both painting interior walls — fresh paint enhances curb appeal and interior aesthetics ↑
• Both upgrading flooring — new flooring can increase both resale and rental value ↑
• Both upgrading appliances — modern appliances can attract more buyers and renters ↑

ⓘ 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: Waco ISD
• NCES district ID: 4844280
• Math proficiency: 20% ▼ -14.00%
• Reading proficiency: 24% ▼ -6.00%
• Median HH income: $29,208
• Composite: 17.57/100
• National rank: #9043
• State rank: #773 of 826 in TX

Livability — Waco

• Score: 74/100
• State rank: #166
• US rank: #4378

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Waco, TX
• County: McLennan County · 213,088 people
• City population: 125,319
• Metro: Waco, TX
• Population (ZIP): 41,627
• Household income: $41,656
• Rent vs Own: 61.0% rent · 39.0% own
• Severe rent burden: 3883.0

Population outlook (McLennan County) Hauer SSP2

• Today (2025): 264,191 people
• By 2030: 273,578 · +3.6%
• By 2040: 291,506 · +10.3%
• By 2050: 308,044 · +16.6%
• By 2075: 349,648 · +32.3%
• By 2100: 364,779 · +38.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: White 49% Hispanic / Latino 31% Two or more races 17% Black 15% Asian 3%
• Hispanic origin (detail): Mexican 29%
• Common ancestry: Lithuanian 1% Iranian 1% Romanian 1%
• Foreign-born: 9% · Canada, Vietnam, China
• Languages at home: 78% English-only · Spanish 19% Other Indo-European 1%

Political lean MEDSL · McLennan

• 2024 margin: Solid R (+30.9) · D 34.0% · R 64.9% · Other 1.0%
• 2008→2024 swing: -7.0pp toward R · 2008: -23.9pp · 2024: -30.9pp
• All cycles: 2024: R+30.9 2020: R+23.4 2016: R+27.1 2012: R+29.8 2008: R+23.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -94.31%
• Current HPI: 230.2557
• Rent YoY: ▲ 1.86%
• Metro: Waco, 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

-19.5% since first listed

3 events — show timeline

• 2025-11-10 Price Changed $120,000 NTREIS
• 2025-07-26 Price Changed $138,000 NTREIS
• 2025-06-12 Listed $149,000 NTREIS

Property tax history

+10.8%/yr

Latest (2025): $2,634 · +1.8% YoY. Source: county tax records.