473 Lake View Dr

Zavalla, TX 75949

$135,000C-

3 bd · 2.0 ba · 1,300 sqft · Built 1992 · Manufactured · Pending

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,354/mo
• Mortgage (P&I): −$708
• Tax + insurance: −$300
• HOA: −$0
• Vac / Maint / Mgmt: −$284
• Net cashflow: $62/mo
• Annual: $743/yr
• Cap rate: 6.84%
• Cash-on-cash: 1.96%
• DSCR: 1.09
• 1% rule: 1.00%
• Cash to close: $37,800

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $135k.
• At list price, monthly cash flow is $62 ($743/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $135k).
• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $14k of equity ($933 loan paydown + $14k appreciation (10.0% local appreciation)).
• Location reads 55/100 on livability (#1,345 in TX) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: schools D-, amenities F, commute F.
• Huntington ISD (rural): math 46% / reading 42% proficiency, ranked #303 of 826 in TX (top 37%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 113 active listings in the ZIP; 120 units permitted in Angelina County in 2024 (0 in 5+ unit buildings).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $38k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.8% vs local median 2.1% in Zavalla — 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

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.