13369 Enchanted Ct · Conroe, TX 77318

$55,000

2 bd · 1.0 ba · 500 sqft · Land · 146 Days on market

Built 2008 4,800 sqft lot $8/mo HOA · 1% of rent

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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
• Livability +3.7/5.0
• Schools +3.2/10.0
• Condition / age +2.5/5.0
• Rent growth +2.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great fixer upper mobile home including the lot in the quiet Enchanted Waters neighborhood. The mobile home includes two bedrooms with washer and dryer connections. It also includes a mini-split central AC (2019). Good investment opportunity as this home was previously leased for $700 per month. This home sits high and dry and no previous flooding.

Key facts

• High and dry
• 4,800 sq ft lot
• Built 2008

Tags

• ENCHANTED WATERS NEIGHBORHOOD
• MINI-SPLIT CENTRAL AC
• INVESTMENT OPPORTUNITY
• HIGH AND DRY

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath land listed at $55k.

Deal economics

• At list price, monthly cash flow is $634 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Recommended offer: $48k (12.0% below list) — sets the bar for market timing.
• Cap rate 20.1% vs local median 3.1% in Conroe — 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 74/100 on livability (#169 in TX, #4,447 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, amenities B; Watch: schools D+, commute F, health & safety F.
• Willis ISD (rural): math 33% / reading 40% proficiency, ranked #458 of 826 in TX (top 55%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents soft (-2.1%/yr); 1189 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 13,259 units permitted in Montgomery County in 2024 (1,402 in 5+ unit buildings).
• This rent is only 16% of the median local income ($92k/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 $380 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Montgomery County population projected at +65% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $15k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 146 days — a 12% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 8y 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.
• Current owner paid $44k; 24% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: 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.

Recommended offer $48,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 146 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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 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?
6. 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.
7. 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.
8. 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: 2.29% ✓
• Cap rate: 20.12%
• Cash-on-cash: 49.38%
• DSCR: 3.20
• GRM: 3.6

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: 43.6%
• Equity multiple: 2.80×
• Total profit: $27,772
• Equity at exit: $8,201

10-year hold

• IRR: 48.3%
• Equity multiple: 5.02×
• Total profit: $61,945
• Equity at exit: $4,755

Cash invested: $15,400 (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 77318

• Home prices YoY: -32.7%
• Rents YoY: -2.1%
• Active inventory: 1189
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $1,257 medium
• Mortgage (P&I): −$288
• Tax from tax record: −$40 /mo · $480/yr
• Insurance: −$23
• HOA: −$8
• Vacancy / Maint / Mgmt: −$264
• Net cashflow: $634

Break-even live

Break-even rent $455

Max offer price $55,000

Occupancy floor 45%

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12745 Pecan Tree Ct Willis, TX	1.0	1.0	500	$900	$1.80	44d	1	0.26mi

HOA detail

• Monthly dues: $8 · $96/yr
• Likely covers: water

Listing history 26 events

1. 2026-06-01
   days on market $55,000 Pending 146 DOM
2. 2026-05-31
   days on market $55,000 Pending 145 DOM
3. 2026-03-18
   status Active 354-char remark

   Show marketing remark (354 chars)

   Great fixer upper mobile home including the lot in the quiet Enchanted Waters neighborhood. The mobile home includes two bedrooms with washer and dryer connections. It also includes a mini-split central AC (2019). Good investment opportunity as this home was previously leased for $700 per month. This home sits high and dry and no previous flooding.

4. 2026-03-18
   status Pending 354-char remark

   Show marketing remark (354 chars)

   Great fixer upper mobile home including the lot in the quiet Enchanted Waters neighborhood. The mobile home includes two bedrooms with washer and dryer connections. It also includes a mini-split central AC (2019). Good investment opportunity as this home was previously leased for $700 per month. This home sits high and dry and no previous flooding.

5. 2026-01-06
   listed $55,000 Active 354-char remark

   Show marketing remark (354 chars)

   Great fixer upper mobile home including the lot in the quiet Enchanted Waters neighborhood. The mobile home includes two bedrooms with washer and dryer connections. It also includes a mini-split central AC (2019). Good investment opportunity as this home was previously leased for $700 per month. This home sits high and dry and no previous flooding.

6. 2025-08-12
   soldstatus $44,498
7. 2023-03-10
   soldstatus Sold 345-char remark

   Show marketing remark (345 chars)

   Great property in the quiet Enchanted Waters neighborhood. The mobile home includes two bedrooms with washer and dryer connections. It also includes a new mini-split central AC (2019). Fresh paint throughout. Good investment opportunity as this home was previously leased for $700 per month. This home sits high and dry and no previous flooding.

8. 2023-03-10
   soldstatus

   Show marketing remark (345 chars)

   Great property in the quiet Enchanted Waters neighborhood. The mobile home includes two bedrooms with washer and dryer connections. It also includes a new mini-split central AC (2019). Fresh paint throughout. Good investment opportunity as this home was previously leased for $700 per month. This home sits high and dry and no previous flooding.

9. 2023-03-08
   status Pending 345-char remark

   Show marketing remark (345 chars)

   Great property in the quiet Enchanted Waters neighborhood. The mobile home includes two bedrooms with washer and dryer connections. It also includes a new mini-split central AC (2019). Fresh paint throughout. Good investment opportunity as this home was previously leased for $700 per month. This home sits high and dry and no previous flooding.

10. 2023-03-08
    listed $65,000 Active 345-char remark

    Show marketing remark (345 chars)

    Great property in the quiet Enchanted Waters neighborhood. The mobile home includes two bedrooms with washer and dryer connections. It also includes a new mini-split central AC (2019). Fresh paint throughout. Good investment opportunity as this home was previously leased for $700 per month. This home sits high and dry and no previous flooding.

11. 2023-02-28
    historical
12. 2022-11-26
    price $65,000
13. 2022-10-19
    listed $70,000 Active
14. 2022-10-18
    historical
15. 2022-07-18
    listed $70,000 Active
16. 2022-07-17
    historical
17. 2022-07-16
    status Active
18. 2022-06-09
    status Pending
19. 2021-12-13
    listed $75,000 Active
20. 2020-06-16
    historical
21. 2020-03-10
    listed $59,900 Active
22. 2018-10-23
    historical
23. 2018-10-10
    price $40,000
24. 2018-09-30
    price $42,500
25. 2018-09-17
    price $45,000
26. 2018-09-08
    listed $49,000 Active

ⓘ 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: $480 · $40/mo
• Projected year-2 tax: $1,006 · $84/mo
• Expected delta: +$527/yr (+$44/mo · 109.9%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥111°F today · 24 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% 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: $15,084
• − Mortgage interest: −$3,081
• − Property taxes: −$480
• − Insurance: −$275
• − Repairs & maintenance: −$1,207
• − Management: −$1,207
• − HOA: −$96
• − Depreciation: −$1,600
• Taxable income: $7,139
• Est. tax owed @ 24.0%: −$1,713
• After-tax cash flow: $5,891/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: Willis ISD
• NCES district ID: 4845900
• Math proficiency: 33% ▼ -15.00%
• Reading proficiency: 40% ▼ -2.00%
• Median HH income: $57,828
• Composite: 32.32/100
• National rank: #5746
• State rank: #458 of 826 in TX

Livability — Conroe

• Score: 74/100
• State rank: #169
• US rank: #4447

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Montgomery County · 663,713 people
• City population: 205,417
• Metro: Houston-The Woodlands-Sugar Land, TX
• Population (ZIP): 20,792
• Household income: $92,415
• Rent vs Own: 19.3% rent · 80.7% own
• Severe rent burden: 279.0

Population outlook (Montgomery County) Hauer SSP2

• Today (2025): 713,896 people
• By 2030: 805,263 · +12.8%
• By 2040: 992,708 · +39.1%
• By 2050: 1,179,590 · +65.2%
• By 2075: 1,628,084 · +128.1%
• By 2100: 1,937,880 · +171.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Hispanic / Latino 17% Two or more races 14% Black 3%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Lithuanian 4% Slovak 2% Serbian 2%
• Foreign-born: 6% · Canada, Jamaica
• Languages at home: 88% English-only · Spanish 10%

Political lean MEDSL · Montgomery

• 2024 margin: Solid R (+45.5) · D 26.8% · R 72.3%
• 2008→2024 swing: +7.2pp toward D · 2008: -52.7pp · 2024: -45.5pp
• All cycles: 2024: R+45.5 2020: R+43.8 2016: R+51.4 2012: R+60.7 2008: R+52.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -114.58%
• Current HPI: 236.256
• Rent YoY: ▼ -2.09%
• Metro: Houston-The Woodlands-Sugar Land, 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

+12.2% since first listed

24 events — show timeline

• 2026-03-18 Relisted — HARMLS
• 2026-03-18 Pending — HARMLS
• 2026-01-06 Listed $55,000 HARMLS
• 2025-08-12 Sold (Public Records) $44,498 Public Records
• 2023-03-10 Sold (Public Records) — Public Records
• 2023-03-10 Sold (MLS) — HARMLS
• 2023-03-08 Pending — HARMLS
• 2023-03-08 Listed $65,000 HARMLS
• 2023-02-28 Listing Removed — HARMLS
• 2022-11-26 Price Changed $65,000 HARMLS
• 2022-10-19 Listed $70,000 HARMLS
• 2022-10-18 Listing Removed — HARMLS
• 2022-07-18 Listed $70,000 HARMLS
• 2022-07-17 Listing Removed — HARMLS
• 2022-07-16 Relisted — HARMLS
• 2022-06-09 Pending — HARMLS
• 2021-12-13 Listed $75,000 HARMLS
• 2020-06-16 Listing Removed — HARMLS
• 2020-03-10 Listed $59,900 HARMLS
• 2018-10-23 Listing Removed — HARMLS
• 2018-10-10 Price Changed $40,000 HARMLS
• 2018-09-30 Price Changed $42,500 HARMLS
• 2018-09-17 Price Changed $45,000 HARMLS
• 2018-09-08 Listed $49,000 HARMLS

Property tax history

+5.4%/yr

Latest (2025): $480 · -0.4% YoY. Source: county tax records.