310 Beaks Ave

Eagle Lake, TX 77434

$186,000D-

6 bd · 3.0 ba · 544 sqft · Built 2020 · Manufactured · Active · 91 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,203/mo
• Mortgage (P&I): −$975
• Tax + insurance: −$140
• HOA: −$0
• Vac / Maint / Mgmt: −$253
• Net cashflow: $-165/mo
• Annual: $-1,976/yr
• Cap rate: 5.23%
• Cash-on-cash: -3.79%
• DSCR: 0.83
• 1% rule: 0.65%
• Cash to close: $52,080

Investor read

• This is a 6-bed/3.0-bath manufactured listed at $186k.
• At list price, monthly cash flow is $-165 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $157k (15.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $120k (35.3% below list).
• It's been on market 91 days — a 9% lower offer ($169k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $120k (35.3% below list) — sets the bar for 1% rule.
• In year one you build about $4k of equity ($1k loan paydown + $2k appreciation (1.3% local appreciation)).
• Location reads 62/100 on livability (#913 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A-, housing B+; Watch: schools F, amenities F, commute F.
• Rice CISD (rural): math 34% / reading 32% proficiency, ranked #574 of 826 in TX (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 59 active listings in the ZIP; 29 units permitted in Colorado County in 2024 (0 in 5+ unit buildings).
• 2 sale attempts; this cycle's ask has dropped $19k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• By year 9, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 5.2% vs local median 3.7% in Eagle 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

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 91 days. Have you received any prior offers? Is the seller open to a 35% concession, seller financing, or rate buy-down credit?
• 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.
• 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?
• 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.