149 Brookwood Ct

East Mountain, TX 75645

$187,850D+

4 bd · 2.0 ba · 2,310 sqft · Built 2021 · Manufactured · Pending · 88 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,664/mo
• Mortgage (P&I): −$985
• Tax + insurance: −$429
• HOA: −$0
• Vac / Maint / Mgmt: −$350
• Net cashflow: $-99/mo
• Annual: $-1,187/yr
• Cap rate: 5.66%
• Cash-on-cash: -2.26%
• DSCR: 0.90
• 1% rule: 0.89%
• Cash to close: $52,598

Investor read

• This is a 4-bed/2.0-bath manufactured listed at $188k. Condition is rated good.
• At list price, monthly cash flow is $-99 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $170k (9.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $166k (11.4% below list).
• It's been on market 88 days — a 6% lower offer ($177k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $166k (11.4% below list) — sets the bar for 1% rule.
• In year one you build about $20k of equity ($1k loan paydown + $19k appreciation (10.0% local appreciation)).
• Location reads 67/100 on livability (#522 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety D-.
• Gilmer ISD (town): math 44% / reading 38% proficiency, ranked #372 of 826 in TX (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Gilmer El (math 34% / reading 34%, grade F, #2,149 of 4,322 statewide, top 50%, 1,179 students, 81% FRL); Bruce J H (math 44% / reading 40%, grade D-, #572 of 1,662 statewide, top 36%, 429 students, 78% FRL); Gilmer H S (math 63% / reading 53%, grade C, #320 of 1,632 statewide, top 20%, 815 students, 73% FRL) — zoned schools average 77% FRL vs 54% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 182 active listings in the ZIP; 34 units permitted in Upshur County in 2024 (0 in 5+ unit buildings).
• Upshur County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 4 sale attempts since 2y ago; this cycle's ask has dropped $33k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• By year 2, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wind risk, 49% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

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?
• It's been on market 88 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.