327 Chris Dr · Rockwall, TX 75032

$155,000

2 bd · 1.0 ba · 784 sqft · Manufactured public records · 99 Days on market

Built 1981 7,187 sqft lot $198/sqft · 32% below area Est $229k · 32% under ↓ 6% since listing

---

Why this score? — see what drove the C+ 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 +20.7/30.0
• ARV discount +15.0/15.0
• DSCR +6.6/10.0
• 1% rule +5.3/10.0
• Schools +5.0/10.0
• Livability +3.9/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this well-located home in Rockwall! This 2-bedroom, 1-bath property offers comfort and convenience just minutes from the lake and everyday shopping, including Target and Kroger. The home features a functional layout, covered carport, and new central HVAC system for added efficiency and peace of mind. Decently updated with room to add your personal touch, this property is a great opportunity for first-time buyers, downsizers, or investors. Great location and priced to sell— don't miss this opportunity!

Key facts

• Covered carport
• Everyday shopping
• Functional layout

Tags

• COVERED CARPORT
• NEW CENTRAL HVAC SYSTEM
• FUNCTIONAL LAYOUT
• MINUTES FROM THE LAKE
• EVERYDAY SHOPPING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $155k.

Deal economics

• At list price, monthly cash flow is $209 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $155k).
• Recommended offer: $141k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.9% vs local median 2.9% in Rockwall — 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 (#86 in TX, #3,043 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A-; Watch: amenities F, commute F.
• Rockwall ISD (suburban): math 54% / reading 54% proficiency, ranked #83 of 826 in TX (top 10%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+1.5%/yr); 966 active listings in the ZIP; high-income renter base; 1,810 units permitted in Rockwall County in 2024 (0 in 5+ unit buildings).
• This rent is only 14% of the median local income ($136k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Rockwall County population projected at +56% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 99 days — a 9% lower offer ($141k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $141,050 (9.0% below list)

Questions for the listing agent

1. It's been on market 99 days. Have you received any prior offers? Is the seller open to a 9% 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.03% ✓
• Cap rate: 7.91%
• Cash-on-cash: 5.79%
• DSCR: 1.26
• GRM: 8.1

CMA / ARV

• ARV (median comp): $229,095
• List price: $155,000
• Delta: -32.34%
• Verdict: UNDERPRICED
• Comps: 4 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.47% rent growth · sell at horizon

5-year hold

• IRR: -9.1%
• Equity multiple: 0.67×
• Total profit: $-14,187
• Equity at exit: $23,111

10-year hold

• IRR: -1.7%
• Equity multiple: 0.89×
• Total profit: $-4,745
• Equity at exit: $13,402

Cash invested: $43,400 (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 75032

• Home prices YoY: -22.9%
• Rents YoY: 1.5%
• Active inventory: 966
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,590 medium
• Mortgage (P&I): −$813
• Tax from tax record: −$170 /mo · $2,034/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$334
• Net cashflow: $209

Break-even live

Break-even rent $1,325

Max offer price $155,000

Occupancy floor 82%

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $155,000 Active 99 DOM
2. 2026-06-17
   days on market $155,000 Active 98 DOM
3. 2026-06-16
   days on market $155,000 Active 97 DOM
4. 2026-06-15
   days on market $155,000 Active 96 DOM
5. 2026-06-13
   pricedays on market $155,000 Active 94 DOM
6. 2026-06-13
   days on market $169,999 Active 93 DOM
7. 2026-06-09
   days on market $169,999 Active 90 DOM
8. 2026-06-08
   days on market $169,999 Active 89 DOM
9. 2026-06-07
   days on market $169,999 Active 88 DOM
10. 2026-06-04
    days on market $169,999 Active 85 DOM
11. 2026-06-03
    days on market $169,999 Active 84 DOM
12. 2026-06-02
    days on market $169,999 Active 83 DOM
13. 2026-06-01
    days on market $169,999 Active 82 DOM
14. 2026-05-31
    days on market $169,999 Active 81 DOM
15. 2026-05-14
    price $169,999 526-char remark

    Show marketing remark (526 chars)

    Welcome to this well-located home in Rockwall! This 2-bedroom, 1-bath property offers comfort and convenience just minutes from the lake and everyday shopping, including Target and Kroger. The home features a functional layout, covered carport, and new central HVAC system for added efficiency and peace of mind. Decently updated with room to add your personal touch, this property is a great opportunity for first-time buyers, downsizers, or investors. Great location and priced to sell— don't miss this opportunity!

16. 2026-04-22
    price $170,000 526-char remark

    Show marketing remark (526 chars)

    Welcome to this well-located home in Rockwall! This 2-bedroom, 1-bath property offers comfort and convenience just minutes from the lake and everyday shopping, including Target and Kroger. The home features a functional layout, covered carport, and new central HVAC system for added efficiency and peace of mind. Decently updated with room to add your personal touch, this property is a great opportunity for first-time buyers, downsizers, or investors. Great location and priced to sell— don't miss this opportunity!

17. 2026-03-11
    listed $180,000 Active 526-char remark

    Show marketing remark (526 chars)

    Welcome to this well-located home in Rockwall! This 2-bedroom, 1-bath property offers comfort and convenience just minutes from the lake and everyday shopping, including Target and Kroger. The home features a functional layout, covered carport, and new central HVAC system for added efficiency and peace of mind. Decently updated with room to add your personal touch, this property is a great opportunity for first-time buyers, downsizers, or investors. Great location and priced to sell— don't miss this opportunity!

18. 2024-02-21
    soldstatus
19. 2016-03-14
    soldstatus
20. 1998-06-15
    soldstatus

ⓘ 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: $2,034 · $170/mo
• Projected year-2 tax: $2,836 · $236/mo
• Expected delta: +$802/yr (+$67/mo · 39.4%)

ⓘ 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 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 24 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,082
• − Mortgage interest: −$8,682
• − Property taxes: −$2,034
• − Insurance: −$775
• − Repairs & maintenance: −$1,527
• − Management: −$1,527
• − Depreciation: −$4,509
• Taxable income: $28
• Est. tax owed @ 24.0%: −$7
• After-tax cash flow: $2,505/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.

Schools (NCES district)

• District: Rockwall ISD
• NCES district ID: 4837650
• Math proficiency: 54% ▼ -13.00%
• Reading proficiency: 54% ▼ -8.00%
• Median HH income: $88,800
• Composite: 49.82/100
• National rank: #1952
• State rank: #83 of 826 in TX

Livability — Rockwall

• Score: 77/100
• State rank: #86
• US rank: #3043

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rockwall, TX
• County: Rockwall County · 132,930 people
• City population: 84,191
• Metro: Dallas-Fort Worth-Arlington, TX
• Population (ZIP): 39,865
• Household income: $135,742
• Rent vs Own: 20.3% rent · 79.7% own
• Severe rent burden: 636.0

Population outlook (Rockwall County) Hauer SSP2

• Today (2025): 118,396 people
• By 2030: 132,209 · +11.7%
• By 2040: 159,538 · +34.7%
• By 2050: 185,299 · +56.5%
• By 2075: 243,489 · +105.7%
• By 2100: 277,814 · +134.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (67%)
• Race & ethnicity: White 67% Hispanic / Latino 17% Two or more races 9% Black 9% Asian 3%
• Hispanic origin (detail): Mexican 11% Puerto Rican 1%
• Common ancestry: Slovak 3% Lithuanian 2% Italian 2%
• Foreign-born: 10% · Canada
• Languages at home: 84% English-only · Spanish 10% Other Indo-European 2% Arabic 1%

Political lean MEDSL · Rockwall

• 2024 margin: Solid R (+40.9) · D 29.1% · R 70.0%
• 2008→2024 swing: +5.3pp toward D · 2008: -46.2pp · 2024: -40.9pp
• All cycles: 2024: R+40.9 2020: R+37.7 2016: R+47.5 2012: R+53.3 2008: R+46.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -61.97%
• Current HPI: 209.0229
• Rent YoY: ▲ 1.47%
• 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

-5.6% since first listed

6 events — show timeline

• 2026-05-14 Price Changed $169,999 NTREIS
• 2026-04-22 Price Changed $170,000 NTREIS
• 2026-03-11 Listed $180,000 NTREIS
• 2024-02-21 Sold (Public Records) — Public Records
• 2016-03-14 Sold (Public Records) — Public Records
• 1998-06-15 Sold (Public Records) — Public Records

Property tax history

+14.6%/yr

Latest (2025): $2,034 · +107.3% YoY. Source: county tax records.