2528 County Road 531

Burleson, TX 76028

$213,000D+

4 bd · 2.0 ba · 952 sqft · Built 1982 · Manufactured · Pending · 18 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,994/mo
• Mortgage (P&I): −$1,117
• Tax + insurance: −$375
• HOA: −$0
• Vac / Maint / Mgmt: −$419
• Net cashflow: $83/mo
• Annual: $1,000/yr
• Cap rate: 6.76%
• Cash-on-cash: 1.68%
• DSCR: 1.07
• 1% rule: 0.94%
• Cash to close: $59,640

Investor read

• This is a 4-bed/2.0-bath manufactured listed at $213k.
• At list price, monthly cash flow is $83 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $199k (6.4% below list).
• It's been on market 18 days — a 2% lower offer ($210k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $199k (6.4% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 79/100 on livability (#53 in TX, #2,133 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Burleson ISD (suburban): math 41% / reading 48% proficiency, ranked #236 of 826 in TX (top 29%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: William Stribling El (math 48% / reading 49%, grade D, #950 of 4,322 statewide, top 22%, 476 students, 33% FRL) — zoned schools at 33% FRL track the district average.
• Market conditions: Rents rising (+1.8%/yr); 679 active listings in the ZIP; solid renter incomes; 2,152 units permitted in Johnson County in 2024 (76 in 5+ unit buildings).
• Johnson County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.8% vs local median 3.5% in Burleson — 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

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.