6625 Fm 1398 · Leary, TX 75561

$32,900

2 bd · 1.0 ba · 840 sqft · Manufactured public records · 184 Days on market

Built 1990 Fair condition 0.50 ac lot ↓ 27% since listing

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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
• Schools +4.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

2 bedroom mobile home on half an acre. Great location right on 1398 only minutes from I-30.

Key facts

• Great location
• Half an acre
• 0.5 acre lot

Tags

• HALF AN ACRE
• GREAT LOCATION

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $33k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $446 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($870 rent vs $33k).
• Recommended offer: $29k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#776 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B; Watch: schools F, crime F, amenities F.
• Hooks ISD (town): math 46% / reading 50% proficiency, ranked #226 of 826 in TX (top 27%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 65 active listings in the ZIP; 137 units permitted in Bowie County in 2024 (5 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $227 of loan paydown is wiped out by about $987 of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $9k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 184 days — a 12% lower offer ($29k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $28,952 (12.0% below list)

Questions for the listing agent

1. It's been on market 184 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. 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.
8. 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.
9. 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: 2.64% ✓
• Cap rate: 22.56%
• Cash-on-cash: 58.10%
• DSCR: 3.59
• GRM: 3.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 56.7%
• Equity multiple: 3.51×
• Total profit: $23,098
• Equity at exit: $4,905

10-year hold

• IRR: 61.6%
• Equity multiple: 7.16×
• Total profit: $56,779
• Equity at exit: $2,845

Cash invested: $9,212 (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 75561

• Home prices YoY: -8.4%
• Active inventory: 65
• Price-to-rent: 3.2×

Monthly cashflow live

• Estimated rent: $870 medium
• Mortgage (P&I): −$173
• Tax from tax record: −$55 /mo · $657/yr
• Insurance: −$14
• HOA: −$0
• Vacancy / Maint / Mgmt: −$183
• Net cashflow: $446

Break-even live

Break-even rent $305

Max offer price $32,900

Occupancy floor 44%

Sensitivity live

Price	-10% $465	-5% $455	+0% $446	+5% $437	+10% $427
Rent	-10% $377	-5% $412	+0% $446	+5% $480	+10% $515
Rate	-1.0pp $463	-0.5pp $454	base $446	+0.5pp $437	+1.0pp $429

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: $8,225
• Closing costs: $987
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-19
   days on market $32,900 Active 184 DOM
2. 2026-06-18
   days on market $32,900 Active 183 DOM
3. 2026-06-17
   days on market $32,900 Active 182 DOM
4. 2026-06-16
   days on market $32,900 Active 181 DOM
5. 2026-06-15
   days on market $32,900 Active 180 DOM
6. 2026-06-14
   days on market $32,900 Active 178 DOM
7. 2026-06-13
   days on market $32,900 Active 177 DOM
8. 2026-06-10
   days on market $32,900 Active 175 DOM
9. 2026-06-09
   days on market $32,900 Active 174 DOM
10. 2026-06-08
    days on market $32,900 Active 173 DOM
11. 2026-06-07
    days on market $32,900 Active 172 DOM
12. 2026-06-05
    days on market $32,900 Active 169 DOM
13. 2026-06-03
    days on market $32,900 Active 168 DOM
14. 2026-06-02
    days on market $32,900 Active 167 DOM
15. 2026-06-01
    days on market $32,900 Active 166 DOM
16. 2026-05-31
    days on market $32,900 Active 165 DOM
17. 2026-05-30
    days on market $32,900 Active 164 DOM
18. 2026-05-13
    price $32,900 91-char remark

    Show marketing remark (91 chars)

    2 bedroom mobile home on half an acre. Great location right on 1398 only minutes from I-30.

19. 2026-03-24
    price $37,900 91-char remark

    Show marketing remark (91 chars)

    2 bedroom mobile home on half an acre. Great location right on 1398 only minutes from I-30.

20. 2026-02-02
    price $40,900 91-char remark

    Show marketing remark (91 chars)

    2 bedroom mobile home on half an acre. Great location right on 1398 only minutes from I-30.

21. 2026-01-19
    price $42,900 91-char remark

    Show marketing remark (91 chars)

    2 bedroom mobile home on half an acre. Great location right on 1398 only minutes from I-30.

22. 2025-12-17
    listed $44,900 Active 91-char remark

    Show marketing remark (91 chars)

    2 bedroom mobile home on half an acre. Great location right on 1398 only minutes from I-30.

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

Tax reassessment forecast TX · Resets to sale price

• Current annual tax: $657 · $55/mo
• Projected year-2 tax: $657 · $55/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

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 7 d/yr ≥111°F today · 22 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 19% 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: $10,435
• − Mortgage interest: −$1,843
• − Property taxes: −$657
• − Insurance: −$164
• − Repairs & maintenance: −$835
• − Management: −$835
• − Depreciation: −$957
• Taxable income: $5,144
• Est. tax owed @ 24.0%: −$1,235
• After-tax cash flow: $4,118/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 · 4 photos

Fair 45/100 Moderate rehab

This mobile home requires significant updates to its kitchen, bathrooms, exterior, and landscaping to improve its condition and value. Potential buyers and renters would appreciate fresh paint, updated fixtures, and new flooring.

Repairs flagged

• Major Kitchen cabinets — Dark and dated cabinets need replacement.
• Major Countertops — Worn countertops need replacement.
• Major Flooring — Old and stained flooring needs replacement.
• Major Bathroom fixtures — Outdated fixtures need replacement.
• Major Exterior siding — Weathered and peeling siding needs repainting or replacement.
• Major Landscaping — Sparse landscaping needs improvement to enhance curb appeal.

Value-add opportunities

• Both Paint and update kitchen cabinets — Fresh paint and updated cabinets would improve both resale and rental value.
• Both Replace countertops and flooring — New countertops and flooring would significantly enhance the home's appeal and value.
• Both Replace bathroom fixtures — Modern fixtures would attract more buyers and renters.
• Both Repaint exterior siding — Fresh paint would improve curb appeal and home value.
• Both Landscaping improvements — Enhanced landscaping would increase curb appeal and attract more potential buyers and renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Dark and dated cabinets need replacement.	Major	$15,000–50,000
Countertops · Worn countertops need replacement.	Major	$15,000–50,000
Flooring · Old and stained flooring needs replacement.	Major	$15,000–50,000
Bathroom fixtures · Outdated fixtures need replacement.	Major	$15,000–50,000
Exterior siding · Weathered and peeling siding needs repainting or replacement.	Major	$15,000–50,000
Landscaping · Sparse landscaping needs improvement to enhance curb appeal.	Major	$15,000–50,000
Total estimated repair cost · 6 items		$90,000–300,000

Value-add ROI direction

• Both Paint and update kitchen cabinets — Fresh paint and updated cabinets would improve both resale and rental value. ↑
• Both Replace countertops and flooring — New countertops and flooring would significantly enhance the home's appeal and value. ↑
• Both Replace bathroom fixtures — Modern fixtures would attract more buyers and renters. ↑
• Both Repaint exterior siding — Fresh paint would improve curb appeal and home value. ↑
• Both Landscaping improvements — Enhanced landscaping would increase curb appeal and attract more potential buyers and 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: Hooks ISD
• NCES district ID: 4823490
• Math proficiency: 46% ▼ -9.00%
• Reading proficiency: 50% ▲ 1.00%
• Median HH income: $42,354
• Composite: 40.38/100
• National rank: #3734
• State rank: #226 of 826 in TX

Livability — Leary

• Score: 64/100
• State rank: #776
• US rank: #14128

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 4,954

Population outlook (Bowie County) Hauer SSP2

• Today (2025): 94,699 people
• By 2030: 94,824 · +0.1%
• By 2040: 94,870 · +0.2%
• By 2050: 93,686 · -1.1%
• By 2075: 90,082 · -4.9%
• By 2100: 76,579 · -19.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Black 16% Hispanic / Latino 8% Two or more races 8%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Slovak 3% European 1% Romanian 1%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 3%

Political lean MEDSL · Bowie

• 2024 margin: Solid R (+48.7) · D 25.3% · R 74.0%
• 2008→2024 swing: -10.8pp toward R · 2008: -37.9pp · 2024: -48.7pp
• All cycles: 2024: R+48.7 2020: R+42.8 2016: R+46.6 2012: R+41.5 2008: R+37.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -14.29%
• Current HPI: 154.9243
• 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

-26.7% since first listed

5 events — show timeline

• 2026-05-13 Price Changed $32,900 TBOR
• 2026-03-24 Price Changed $37,900 TBOR
• 2026-02-02 Price Changed $40,900 TBOR
• 2026-01-19 Price Changed $42,900 TBOR
• 2025-12-17 Listed $44,900 TBOR

Property tax history

+45.5%/yr

Latest (2025): $657 · +169.0% YoY. Source: county tax records.