The Choice Plan · Greenville, TX 75402

$114,999

4 bd · 2.0 ba · 2,000 sqft · Manufactured · 356 Days on market

Good condition

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Condition / age +4.0/5.0
• Livability +3.9/5.0
• Cash flow +3.7/30.0
• Rent growth +2.2/5.0
• Schools +2.0/10.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

The Choice is a spacious 4-bedroom, 2-bathroom home offering 2,000 square feet of living space. It features an open-concept layout that connects the large living room, dining area, and modern kitchen-ideal for both everyday living and entertaining. The home includes a versatile bonus room that can be used as an office, game room, or extra lounge area. The primary suite is designed for comfort with a large walk-in closet and a bathroom that includes both a soaking tub and separate shower. A dedicated utility room provides added convenience for laundry and storage needs. This home combines functional design with comfortable living for families or those who need extra space.

Key facts

• Large walk-in closet
• Versatile bonus room
• Open-concept layout

Tags

• OPEN-CONCEPT LAYOUT
• VERSATILE BONUS ROOM
• LARGE WALK-IN CLOSET
• DEDICATED UTILITY ROOM

🏗️ New construction. The $114,999 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $415,761.

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $115k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-1k ($-15k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Recommended offer: $101k (12.0% below list) — sets the bar for market timing.
• Cap rate 2.8% vs local median 4.1% in Greenville — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 77/100 on livability (#78 in TX, #2,719 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: employment D, schools D-, commute F.
• Greenville ISD (town): math 20% / reading 26% proficiency, ranked #743 of 826 in TX (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents soft (-1.0%/yr); 298 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 1,289 units permitted in Hunt County in 2024 (527 in 5+ unit buildings).
• This rent runs 32% of the median local income ($78k/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 $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Hunt County population projected at +15% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 356 days — a 12% lower offer ($101k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 5.4% of price.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 6→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $101,199 (12.0% below list)

Questions for the listing agent

1. 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?
2. It's been on market 356 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.50% ✗
• Cap rate: 2.79%
• Cash-on-cash: -12.52%
• DSCR: 0.44
• GRM: 16.5

CMA / ARV

• ARV (median comp): $415,761
• List price: $114,999
• Delta: -72.34%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -42.7%
• Equity multiple: -0.30×
• Total profit: $-150,848
• Equity at exit: $61,991

10-year hold

• IRR: -94.7%
• Equity multiple: -1.19×
• Total profit: $-254,614
• Equity at exit: $35,947

Cash invested: $116,413 (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 75402

• Rents YoY: -1.0%
• Active inventory: 298
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $2,100 medium
• Mortgage (P&I): −$2,180
• Tax est. 1.5%: −$520 /mo · $6,236/yr
• Insurance: −$173
• HOA: −$0
• Vacancy / Maint / Mgmt: −$441
• Net cashflow: $-1,215

Break-even live

Break-even rent $3,637

Max offer price $240,013

Occupancy floor —

Sensitivity live

Price	-10% $-927	-5% $-1,071	+0% $-1,215	+5% $-1,358	+10% $-1,502
Rent	-10% $-1,380	-5% $-1,297	+0% $-1,215	+5% $-1,132	+10% $-1,049
Rate	-1.0pp $-1,005	-0.5pp $-1,109	base $-1,215	+0.5pp $-1,322	+1.0pp $-1,432

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: $103,940
• Closing costs: $12,473
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3 Timberside Dr Greenville, TX	3.0	2.0	1776	$900	$0.51	0d	1	1.16mi
505 Ellis Place Dr Greenville, TX	4.0	3.0	2701	$3,195	$1.18	0d	1	1.18mi

Listing history 17 events

1. 2026-06-21
   days on market $114,999 Active 356 DOM
2. 2026-06-18
   days on market $114,999 Active 353 DOM
3. 2026-06-17
   days on market $114,999 Active 352 DOM
4. 2026-06-16
   days on market $114,999 Active 351 DOM
5. 2026-06-15
   days on market $114,999 Active 350 DOM
6. 2026-06-13
   days on market $114,999 Active 348 DOM
7. 2026-06-09
   days on market $114,999 Active 344 DOM
8. 2026-06-08
   days on market $114,999 Active 343 DOM
9. 2026-06-07
   days on market $114,999 Active 342 DOM
10. 2026-06-04
    days on market $114,999 Active 339 DOM
11. 2026-06-03
    days on market $114,999 Active 338 DOM
12. 2026-06-02
    days on market $114,999 Active 337 DOM
13. 2026-06-01
    days on market $114,999 Active 336 DOM
14. 2026-05-31
    days on market $114,999 Active 335 DOM
15. 2026-03-11
    price $114,999 680-char remark

    Show marketing remark (680 chars)

    The Choice is a spacious 4-bedroom, 2-bathroom home offering 2,000 square feet of living space. It features an open-concept layout that connects the large living room, dining area, and modern kitchen-ideal for both everyday living and entertaining. The home includes a versatile bonus room that can be used as an office, game room, or extra lounge area. The primary suite is designed for comfort with a large walk-in closet and a bathroom that includes both a soaking tub and separate shower. A dedicated utility room provides added convenience for laundry and storage needs. This home combines functional design with comfortable living for families or those who need extra space.

16. 2025-10-11
    price $112,999 680-char remark

    Show marketing remark (680 chars)

    The Choice is a spacious 4-bedroom, 2-bathroom home offering 2,000 square feet of living space. It features an open-concept layout that connects the large living room, dining area, and modern kitchen-ideal for both everyday living and entertaining. The home includes a versatile bonus room that can be used as an office, game room, or extra lounge area. The primary suite is designed for comfort with a large walk-in closet and a bathroom that includes both a soaking tub and separate shower. A dedicated utility room provides added convenience for laundry and storage needs. This home combines functional design with comfortable living for families or those who need extra space.

17. 2025-06-30
    listed $112,000 Active 680-char remark

    Show marketing remark (680 chars)

    The Choice is a spacious 4-bedroom, 2-bathroom home offering 2,000 square feet of living space. It features an open-concept layout that connects the large living room, dining area, and modern kitchen-ideal for both everyday living and entertaining. The home includes a versatile bonus room that can be used as an office, game room, or extra lounge area. The primary suite is designed for comfort with a large walk-in closet and a bathroom that includes both a soaking tub and separate shower. A dedicated utility room provides added convenience for laundry and storage needs. This home combines functional design with comfortable living for families or those who need extra space.

ⓘ 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 FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 7/10 Severe 6 d/yr ≥111°F today · 21 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,195
• − Mortgage interest: −$23,289
• − Property taxes: −$6,236
• − Insurance: −$2,079
• − Repairs & maintenance: −$2,016
• − Management: −$2,016
• − Depreciation: −$12,095
• Taxable loss: −$22,535
• Est. tax savings @ 24.0%: +$5,408
• After-tax cash flow: $-9,166/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 · 6 photos

Good 80/100 Cosmetic rehab

This spacious 4-bedroom, 2-bathroom home is in good condition with a modern kitchen and bathrooms. It's ready for move-in and would benefit from some cosmetic updates to further enhance its value.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics.
• Both Installing new flooring in the bathrooms — New flooring can improve the look and feel of the bathrooms.
• Both Upgrading the kitchen appliances — Modern appliances can make the kitchen more functional and appealing to potential buyers/renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics. ↑
• Both Installing new flooring in the bathrooms — New flooring can improve the look and feel of the bathrooms. ↑
• Both Upgrading the kitchen appliances — Modern appliances can make the kitchen more functional and appealing to potential buyers/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: Greenville ISD
• NCES district ID: 4821720
• Math proficiency: 20% ▼ -12.00%
• Reading proficiency: 26% ▼ -7.00%
• Median HH income: $41,374
• Composite: 19.56/100
• National rank: #8759
• State rank: #743 of 826 in TX

Livability — Greenville

• Score: 77/100
• State rank: #78
• US rank: #2719

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Hunt County · 71,969 people
• City population: 42,767
• Metro: Dallas-Fort Worth-Arlington, TX
• Population (ZIP): 20,098
• Household income: $77,877
• Rent vs Own: 33.1% rent · 66.9% own
• Severe rent burden: 361.0

Population outlook (Hunt County) Hauer SSP2

• Today (2025): 97,090 people
• By 2030: 100,452 · +3.5%
• By 2040: 106,544 · +9.7%
• By 2050: 111,218 · +14.6%
• By 2075: 121,695 · +25.3%
• By 2100: 123,683 · +27.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 11% Black 10% Two or more races 8% Asian 2%
• Hispanic origin (detail): Mexican 7% Puerto Rican 1%
• Common ancestry: Slovak 2% Romanian 2% Lithuanian 1%
• Foreign-born: 3% · Canada, China
• Languages at home: 93% English-only · Spanish 5% Chinese 1%

Political lean MEDSL · Hunt

• 2024 margin: Solid R (+55.5) · D 21.9% · R 77.4%
• 2008→2024 swing: -14.9pp toward R · 2008: -40.6pp · 2024: -55.5pp
• All cycles: 2024: R+55.5 2020: R+52.5 2016: R+56.3 2012: R+51.2 2008: R+40.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -141.52%
• Current HPI: 232.0505
• Rent YoY: ▼ -1.00%
• Metro: Dallas-Fort Worth-Arlington, 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

+2.7% since first listed

3 events — show timeline

• 2026-03-11 Price Changed $114,999 Zillow
• 2025-10-11 Price Changed $112,999 Zillow
• 2025-06-30 Listed $112,000 Zillow