201 Michael Dr · Fritch, TX 79036

$110,000

3 bd · 1.0 ba · 1,120 sqft · Manufactured public records · 351 Days on market

Built 1981 $98/sqft · 16% below area Est $131k · 16% under

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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 +17.4/30.0
• ARV discount +14.7/15.0
• DSCR +5.4/10.0
• 1% rule +4.7/10.0
• Livability +3.6/5.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This home would make a great lake house, rental or investment property! This 3 bedroom, 2-bathroom home boast fresh paint & new flooring throughout, new kitchen countertops, large fenced in yard, storm shelter, and oversized double carport! All a quick 5 minutes from Lake Meredith! Schedule your tour today!

Key facts

• Storm shelter
• Large fenced in yard
• Built 1981

Tags

• NEW KITCHEN COUNTERTOPS
• LARGE FENCED IN YARD
• STORM SHELTER
• OVERSIZED DOUBLE CARPORT

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath manufactured listed at $110k.

Deal economics

• At list price, monthly cash flow is $84 ($1k/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 $107k (2.9% below list).
• Recommended offer: $97k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 71/100 on livability (#329 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: employment C-, schools D-, amenities F.
• Sanford-Fritch ISD (town): math 36% / reading 43% proficiency, ranked #417 of 826 in TX (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 41 active listings in the ZIP; 2 units permitted in Hutchinson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $761 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 351 days — a 12% lower offer ($97k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 6→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $96,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 351 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. 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.
6. 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.
7. 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: 0.97% ✗
• Cap rate: 7.20%
• Cash-on-cash: 3.26%
• DSCR: 1.14
• GRM: 8.6

CMA / ARV

• ARV (median comp): $131,044
• List price: $110,000
• Delta: -16.06%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -11.2%
• Equity multiple: 0.59×
• Total profit: $-12,487
• Equity at exit: $16,401

10-year hold

• IRR: -1.9%
• Equity multiple: 0.87×
• Total profit: $-3,956
• Equity at exit: $9,511

Cash invested: $30,800 (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 79036

• Active inventory: 41
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,068 medium
• Mortgage (P&I): −$577
• Tax est. 1.5%: −$138 /mo · $1,650/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$224
• Net cashflow: $84

Break-even live

Break-even rent $962

Max offer price $110,000

Occupancy floor 87%

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $110,000 Active 351 DOM
2. 2026-06-17
   days on market $110,000 Active 350 DOM
3. 2026-06-16
   days on market $110,000 Active 349 DOM
4. 2026-06-15
   days on market $110,000 Active 348 DOM
5. 2026-06-15
   days on market $110,000 Active 347 DOM
6. 2026-06-13
   days on market $110,000 Active 346 DOM
7. 2026-06-12
   days on market $110,000 Active 345 DOM
8. 2026-06-09
   days on market $110,000 Active 342 DOM
9. 2026-06-08
   days on market $110,000 Active 341 DOM
10. 2026-06-08
    days on market $110,000 Active 340 DOM
11. 2026-06-07
    days on market $110,000 Active 339 DOM
12. 2026-06-03
    days on market $110,000 Active 336 DOM
13. 2026-06-02
    days on market $110,000 Active 335 DOM
14. 2026-06-01
    days on market $110,000 Active 334 DOM
15. 2026-05-31
    days on market $110,000 Active 333 DOM
16. 2025-07-02
    listed $110,000 Active 315-char remark

    Show marketing remark (315 chars)

    This home would make a great lake house, rental or investment property! This 3 bedroom, 2-bathroom home boast fresh paint & new flooring throughout, new kitchen countertops, large fenced in yard, storm shelter, and oversized double carport! All a quick 5 minutes from Lake Meredith! Schedule your tour today!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 10/10 Extreme
• 🌡 Heat 5/10 Major 6 d/yr ≥99°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,816
• − Mortgage interest: −$6,162
• − Property taxes: −$1,650
• − Insurance: −$550
• − Repairs & maintenance: −$1,025
• − Management: −$1,025
• − Depreciation: −$3,200
• Taxable loss: −$796
• Est. tax savings @ 24.0%: +$191
• After-tax cash flow: $1,194/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.

Schools (NCES district)

• District: Sanford-Fritch ISD
• NCES district ID: 4839150
• Math proficiency: 36% ▼ -3.00%
• Reading proficiency: 43% ▬ 0.00%
• Median HH income: $49,570
• Composite: 34.01/100
• National rank: #5314
• State rank: #417 of 826 in TX

Livability — Fritch

• Score: 71/100
• State rank: #329
• US rank: #7215

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 4,957

Population outlook (Hutchinson County) Hauer SSP2

• Today (2025): 21,274 people
• By 2030: 21,089 · -0.9%
• By 2040: 20,938 · -1.6%
• By 2050: 20,999 · -1.3%
• By 2075: 21,433 · +0.7%
• By 2100: 21,243 · -0.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Hispanic / Latino 9% Two or more races 5% Black 2% Native American 2%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Italian 3% Romanian 1% Slovak 1%
• Foreign-born: 0%
• Languages at home: 95% English-only · Spanish 5%

Political lean MEDSL · Hutchinson

• 2024 margin: Solid R (+77.2) · D 11.1% · R 88.2%
• 2008→2024 swing: -8.2pp toward R · 2008: -68.9pp · 2024: -77.2pp
• All cycles: 2024: R+77.2 2020: R+76.6 2016: R+76.1 2012: R+72.7 2008: R+68.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -88.35%
• Current HPI: 148.285
• Rent YoY: —
• Metro: —
• 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

• 2025-07-02 Listed $110,000 AARMLS

Property tax history

+1.0%/yr

Latest (2025): $206 · -0.9% YoY. Source: county tax records.