1702 Ranch Rd

Grand Prairie, TX 75052

$90,000B-

3 bd · 2.0 ba · 1,000 sqft · Built 1973 · Manufactured · Pending · 5 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,028/mo
• Mortgage (P&I): −$472
• Tax + insurance: −$189
• HOA: −$0
• Vac / Maint / Mgmt: −$426
• Net cashflow: $941/mo
• Annual: $11,293/yr
• Cap rate: 18.84%
• Cash-on-cash: 44.81%
• DSCR: 2.99
• 1% rule: 2.25%
• Cash to close: $25,200

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $90k.
• At list price, monthly cash flow is $941 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 80/100 on livability (#33 in TX, #1,660 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, cost of living A+, housing A+; Watch: commute F.
• Grand Prairie ISD (suburban): math 29% / reading 35% proficiency, ranked #572 of 826 in TX (top 69%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Mike Moseley El (math 41% / reading 48%, grade F, #1,155 of 4,322 statewide, top 29%, 614 students, 69% FRL).
• Zoned-school proficiency averages 44% at this address vs 32% district-wide (+12 pts) — the actual schools serving this property are materially stronger than the Grand Prairie ISD average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents flat; 287 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 12,577 units permitted in Dallas County in 2024 (6,829 in 5+ unit buildings).
• Dallas County population projected at +35% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Current owner paid $22k; list at $90k implies a 309% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 0.1% rent growth), your $25k cash investment doubles in ~3 years — after that, you're playing with house money.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 18.8% vs local median 3.6% in Grand Prairie — 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

• Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.