272 Lone Pine Dr

Houston, TX 77336

$239,900D-

3 bd · 2.0 ba · 2,128 sqft · Built 2000 · Manufactured · Active · 24 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,924/mo
• Mortgage (P&I): −$1,258
• Tax + insurance: −$362
• HOA: −$2
• Vac / Maint / Mgmt: −$404
• Net cashflow: $-102/mo
• Annual: $-1,229/yr
• Cap rate: 6.11%
• Cash-on-cash: -0.64%
• DSCR: 0.97
• 1% rule: 0.80%
• Cash to close: $67,172

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $240k.
• At list price, monthly cash flow is $-102 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $222k (7.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $192k (19.8% below list).
• It's been on market 24 days — a 2% lower offer ($236k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $192k (19.8% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#184 in TX, #4,771 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, housing A+; Watch: crime F.
• Huffman ISD (rural): math 32% / reading 35% proficiency, ranked #500 of 826 in TX (top 60%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Falcon Ridge El (math 30% / reading 35%, grade F, #2,234 of 4,322 statewide, top 52%, 689 students, 49% FRL); Huffman Middle (math 36% / reading 32%, grade F, #892 of 1,662 statewide, top 55%, 907 students, 42% FRL); Hargrave H S (math 31% / reading 46%, grade F, #866 of 1,632 statewide, top 54%, 1,125 students, 36% FRL).
• Watch-outs: flood insurance adds $66/mo.
• Market conditions: 585 active listings in the ZIP; solid renter incomes; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• Harris County population projected at +47% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts since 3y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Climate carrying-cost: severe flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.1% vs local median 3.2% in Houston — 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.

Questions for listing agent

• 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?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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?
• 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.