205 W Long St · Lacy-Lakeview, TX 76640

$159,000

3 bd · 2.0 ba · 1,800 sqft · Manufactured · 134 Days on market

Built 1986 Good condition 9,975 sqft lot ↓ 4% since listing

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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 +18.8/30.0
• ARV discount +7.5/15.0
• DSCR +5.9/10.0
• 1% rule +5.0/10.0
• Appreciation +5.0/10.0
• Condition / age +3.8/5.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Schools +1.7/10.0

Listing remarks MLS

Charming mobile home located in a quiet neighborhood of Elm Mott, Texas, conveniently right off I-35. This well-maintained home is in great shape and offers an excellent opportunity for a first-time buyer or an investor looking for a solid rental property. Enjoy peaceful country living with quick access to Waco, shopping, dining, and major employers. Affordable, practical, and move-in ready!

Key facts

• Country living
• Quick access to waco
• Quiet neighborhood

Tags

• QUIET NEIGHBORHOOD
• COUNTRY LIVING
• QUICK ACCESS TO WACO

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $159k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $161 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $159k).
• Recommended offer: $140k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.5% vs local median 5.1% in Lacy-Lakeview — 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: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Connally ISD (suburban): math 16% / reading 25% proficiency, ranked #781 of 826 in TX (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 74 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,014 units permitted in McLennan County in 2024 (200 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($1k loan paydown + $5k appreciation (3.0% local appreciation)).
• McLennan County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $45k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 134 days — a 12% lower offer ($140k) is reasonable based on typical stale-listing flexibility.

Recommended offer $139,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 134 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. 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.
5. 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.
6. 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: 1.00% ✓
• Cap rate: 7.51%
• Cash-on-cash: 4.35%
• DSCR: 1.19
• GRM: 8.3

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: 11.6%
• Equity multiple: 1.66×
• Total profit: $29,447
• Equity at exit: $71,493

10-year hold

• IRR: 13.7%
• Equity multiple: 3.03×
• Total profit: $90,495
• Equity at exit: $110,180

Cash invested: $44,520 (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 76640

• Active inventory: 74
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,595 medium
• Mortgage (P&I): −$834
• Tax est. 1.5%: −$199 /mo · $2,385/yr
• Insurance: −$66
• HOA: −$0
• Vacancy / Maint / Mgmt: −$335
• Net cashflow: $161

Break-even live

Break-even rent $1,391

Max offer price $159,000

Occupancy floor 85%

Sensitivity live

Price	-10% $271	-5% $216	+0% $161	+5% $106	+10% $51
Rent	-10% $35	-5% $98	+0% $161	+5% $224	+10% $287
Rate	-1.0pp $241	-0.5pp $202	base $161	+0.5pp $120	+1.0pp $78

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: $39,750
• Closing costs: $4,770
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
371 W Elm Mott Dr Unit NA Elm Mott, TX	3.0	2.0	1550	$1,595	$1.03	45d	1	0.13mi

Listing history 18 events

1. 2026-06-21
   days on market $159,000 Active 134 DOM
2. 2026-06-18
   days on market $159,000 Active 131 DOM
3. 2026-06-17
   days on market $159,000 Active 130 DOM
4. 2026-06-16
   days on market $159,000 Active 129 DOM
5. 2026-06-15
   days on market $159,000 Active 128 DOM
6. 2026-06-14
   days on market $159,000 Active 126 DOM
7. 2026-06-13
   days on market $159,000 Active 125 DOM
8. 2026-06-10
   days on market $159,000 Active 123 DOM
9. 2026-06-09
   days on market $159,000 Active 122 DOM
10. 2026-06-08
    days on market $159,000 Active 121 DOM
11. 2026-06-07
    days on market $159,000 Active 120 DOM
12. 2026-06-05
    days on market $159,000 Active 117 DOM
13. 2026-06-02
    days on market $159,000 Active 115 DOM
14. 2026-06-01
    days on market $159,000 Active 114 DOM
15. 2026-05-31
    days on market $159,000 Active 113 DOM
16. 2026-05-30
    days on market $159,000 Active 112 DOM
17. 2026-05-08
    price $159,000 394-char remark

    Show marketing remark (394 chars)

    Charming mobile home located in a quiet neighborhood of Elm Mott, Texas, conveniently right off I-35. This well-maintained home is in great shape and offers an excellent opportunity for a first-time buyer or an investor looking for a solid rental property. Enjoy peaceful country living with quick access to Waco, shopping, dining, and major employers. Affordable, practical, and move-in ready!

18. 2026-02-07
    listed $165,000 Active 394-char remark

    Show marketing remark (394 chars)

    Charming mobile home located in a quiet neighborhood of Elm Mott, Texas, conveniently right off I-35. This well-maintained home is in great shape and offers an excellent opportunity for a first-time buyer or an investor looking for a solid rental property. Enjoy peaceful country living with quick access to Waco, shopping, dining, and major employers. Affordable, practical, and move-in ready!

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

Taxation est. · year 1

• Rental income: $19,140
• − Mortgage interest: −$8,906
• − Property taxes: −$2,385
• − Insurance: −$795
• − Repairs & maintenance: −$1,531
• − Management: −$1,531
• − Depreciation: −$4,625
• Taxable loss: −$634
• Est. tax savings @ 24.0%: +$152
• After-tax cash flow: $2,087/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 75/100 Cosmetic rehab

This well-maintained mobile home is in good condition and offers an excellent opportunity for a first-time buyer or an investor looking for a solid rental property. The home is move-in ready with a clean exterior and a well-maintained yard.

Value-add opportunities

• Both Paint the exterior siding — Painting the exterior siding can enhance the home's curb appeal and increase its value.
• Both Clean the deck — A clean deck can improve the home's curb appeal and make it more attractive to potential buyers or renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint the exterior siding — Painting the exterior siding can enhance the home's curb appeal and increase its value. ↑
• Both Clean the deck — A clean deck can improve the home's curb appeal and make it more attractive to potential buyers or 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: Connally ISD
• NCES district ID: 4814970
• Math proficiency: 16% ▼ -10.00%
• Reading proficiency: 25% ▼ -5.00%
• Median HH income: $35,388
• Composite: 16.9/100
• National rank: #9141
• State rank: #781 of 826 in TX

Livability — Lacy-Lakeview

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• City population: 31,616
• Population (ZIP): 2,958

Population outlook (McLennan County) Hauer SSP2

• Today (2025): 264,191 people
• By 2030: 273,578 · +3.6%
• By 2040: 291,506 · +10.3%
• By 2050: 308,044 · +16.6%
• By 2075: 349,648 · +32.3%
• By 2100: 364,779 · +38.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Hispanic / Latino 16% Two or more races 15%
• Hispanic origin (detail): Mexican 14%
• Common ancestry: Serbian 8% Lithuanian 1% Slovak 1%
• Foreign-born: 5% · Canada
• Languages at home: 88% English-only · Spanish 12%

Political lean MEDSL · McLennan

• 2024 margin: Solid R (+30.9) · D 34.0% · R 64.9% · Other 1.0%
• 2008→2024 swing: -7.0pp toward R · 2008: -23.9pp · 2024: -30.9pp
• All cycles: 2024: R+30.9 2020: R+23.4 2016: R+27.1 2012: R+29.8 2008: R+23.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

-3.6% since first listed

2 events — show timeline

• 2026-05-08 Price Changed $159,000 NTREIS
• 2026-02-07 Listed $165,000 NTREIS