Panama Plan · Greenville, TX 75402

$97,999

4 bd · 2.0 ba · 1,568 sqft · Manufactured · 305 Days on market

Excellent condition

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Condition / age +5.0/5.0
• Livability +3.9/5.0
• Rent growth +2.2/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Be the first and only owner to live in this beautiful, brand-new 4 bedroom, 2 bathroom home, designed with comfort and functionality in mind. This home is newly built and comes fully equipped with everything you need to settle in with ease. The spacious, open-concept layout features a generous living room that flows into a modern kitchen with a center island, perfect for meal prep or gathering with family. There's plenty of space for a dining table, making it ideal for both everyday living and entertaining. Enjoy the convenience of brand-new appliances, including a stove, refrigerator, and dishwasher, plus washer and dryer connections. This fully electric home is built for efficiency and ease of maintenance. The master suite offers a private escape with a large walk-in closet and a stylish glass door stand-up shower in the en-suite bathroom. Don't miss your chance to own a brand-new, move-in ready home in a welcoming community-schedule your tour today!

Key facts

• Large walk-in closet
• Modern kitchen
• Brand-new appliances

Tags

• OPEN-CONCEPT LAYOUT
• MODERN KITCHEN
• CENTER ISLAND
• BRAND-NEW APPLIANCES
• LARGE WALK-IN CLOSET
• GLASS DOOR STAND-UP SHOWER

🏗️ New construction. Builder plan / spec listing (the home may be to-be-built); metrics use comparable previous sales.

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $98k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $699 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $98k).
• Recommended offer: $86k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.8% vs local median 4.1% in Greenville — 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.

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, 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.
• Zoned schools: Lamar El (math 28% / reading 33%, grade F, #2,464 of 4,322 statewide, top 58%, 554 students, 59% FRL); Greenville Middle (math 17% / reading 28%, grade F, #1,341 of 1,662 statewide, top 82%, 727 students, 76% FRL); Greenville H S (math 17% / reading 37%, grade F, #1,204 of 1,632 statewide, top 75%, 1,480 students, 66% FRL).
• 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $677 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $27k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 305 days — a 12% lower offer ($86k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• 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 $86,239 (12.0% below list)

Questions for the listing agent

1. It's been on market 305 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: 1.78% ✓
• Cap rate: 14.85%
• Cash-on-cash: 30.55%
• DSCR: 2.36
• GRM: 4.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 21.8%
• Equity multiple: 1.86×
• Total profit: $23,535
• Equity at exit: $14,612

10-year hold

• IRR: 27.8%
• Equity multiple: 3.12×
• Total profit: $58,167
• Equity at exit: $8,473

Cash invested: $27,440 (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: 4.7×

Monthly cashflow live

• Estimated rent: $1,742 medium
• Mortgage (P&I): −$514
• Tax est. 1.5%: −$122 /mo · $1,470/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$366
• Net cashflow: $699

Break-even live

Break-even rent $857

Max offer price $97,999

Occupancy floor 55%

Sensitivity live

Price	-10% $766	-5% $732	+0% $699	+5% $665	+10% $631
Rent	-10% $561	-5% $630	+0% $699	+5% $767	+10% $836
Rate	-1.0pp $748	-0.5pp $723	base $699	+0.5pp $673	+1.0pp $647

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: $24,500
• Closing costs: $2,940
• 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
2410 Jack Finney Blvd Greenville, TX	1.0–3.0	1.0–2.0	943	$1,680	$1.78	0d	8	1.16mi

Listing history 16 events

1. 2026-06-21
   days on market $97,999 Active 305 DOM
2. 2026-06-18
   days on market $97,999 Active 302 DOM
3. 2026-06-17
   days on market $97,999 Active 301 DOM
4. 2026-06-16
   days on market $97,999 Active 300 DOM
5. 2026-06-15
   days on market $97,999 Active 299 DOM
6. 2026-06-13
   days on market $97,999 Active 297 DOM
7. 2026-06-09
   days on market $97,999 Active 293 DOM
8. 2026-06-08
   days on market $97,999 Active 292 DOM
9. 2026-06-07
   days on market $97,999 Active 291 DOM
10. 2026-06-04
    days on market $97,999 Active 288 DOM
11. 2026-06-03
    days on market $97,999 Active 287 DOM
12. 2026-06-02
    days on market $97,999 Active 286 DOM
13. 2026-06-01
    days on market $97,999 Active 285 DOM
14. 2026-05-31
    days on market $97,999 Active 284 DOM
15. 2026-03-11
    price $97,999 966-char remark

    Show marketing remark (966 chars)

    Be the first and only owner to live in this beautiful, brand-new 4 bedroom, 2 bathroom home, designed with comfort and functionality in mind. This home is newly built and comes fully equipped with everything you need to settle in with ease. The spacious, open-concept layout features a generous living room that flows into a modern kitchen with a center island, perfect for meal prep or gathering with family. There's plenty of space for a dining table, making it ideal for both everyday living and entertaining. Enjoy the convenience of brand-new appliances, including a stove, refrigerator, and dishwasher, plus washer and dryer connections. This fully electric home is built for efficiency and ease of maintenance. The master suite offers a private escape with a large walk-in closet and a stylish glass door stand-up shower in the en-suite bathroom. Don't miss your chance to own a brand-new, move-in ready home in a welcoming community-schedule your tour today!

16. 2025-08-20
    listed $95,999 Active 966-char remark

    Show marketing remark (966 chars)

    Be the first and only owner to live in this beautiful, brand-new 4 bedroom, 2 bathroom home, designed with comfort and functionality in mind. This home is newly built and comes fully equipped with everything you need to settle in with ease. The spacious, open-concept layout features a generous living room that flows into a modern kitchen with a center island, perfect for meal prep or gathering with family. There's plenty of space for a dining table, making it ideal for both everyday living and entertaining. Enjoy the convenience of brand-new appliances, including a stove, refrigerator, and dishwasher, plus washer and dryer connections. This fully electric home is built for efficiency and ease of maintenance. The master suite offers a private escape with a large walk-in closet and a stylish glass door stand-up shower in the en-suite bathroom. Don't miss your chance to own a brand-new, move-in ready home in a welcoming community-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 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: $20,898
• − Mortgage interest: −$5,489
• − Property taxes: −$1,470
• − Insurance: −$490
• − Repairs & maintenance: −$1,672
• − Management: −$1,672
• − Depreciation: −$2,851
• Taxable income: $7,254
• Est. tax owed @ 24.0%: −$1,741
• After-tax cash flow: $6,642/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 · 13 photos

Excellent 100/100 None rehab

This brand-new, fully equipped manufactured home is in excellent condition with no visible repairs needed. It offers a spacious, open-concept layout and is move-in ready.

Value-add opportunities

• Resale Painting the exterior siding — Fresh paint can enhance curb appeal and property value.
• Rental Landscaping improvements — A well-maintained yard can attract more renters.

Renovation cost estimate screening

Value-add ROI direction

• Resale Painting the exterior siding — Fresh paint can enhance curb appeal and property value. ↑
• Rental Landscaping improvements — A well-maintained yard can attract more 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

+2.1% since first listed

2 events — show timeline

• 2026-03-11 Price Changed $97,999 Zillow
• 2025-08-20 Listed $95,999 Zillow