714 S Martinez Rd

Pecos, TX 79772

$65,000B

2 bd · 1.0 ba · 1,064 sqft · Built 1980 · Manufactured · Active · 415 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,800/mo
• Mortgage (P&I): −$341
• Tax + insurance: −$86
• HOA: −$0
• Vac / Maint / Mgmt: −$378
• Net cashflow: $995/mo
• Annual: $11,944/yr
• Cap rate: 24.67%
• Cash-on-cash: 65.63%
• DSCR: 3.92
• 1% rule: 2.77%
• Cash to close: $18,200

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $65k.
• At list price, monthly cash flow is $995 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $65k).
• It's been on market 415 days — a 12% lower offer ($57k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $57k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-1.1%/yr); year-one equity from $449 of loan paydown is wiped out by about $707 of value loss. Plan a longer hold.
• Location reads 65/100 on livability (#680 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, employment D, schools F.
• Pecos-Barstow-Toyah ISD (town): math 28% / reading 30% proficiency, ranked #652 of 826 in TX (top 79%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 91 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 22 units permitted in Reeves County in 2024 (0 in 5+ unit buildings).
• Reeves County population projected at +45% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 3 sale attempts; this cycle's ask has dropped $5k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-1.1% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~2 years — after that, you're playing with house money.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 415 days. Have you received any prior offers? Is the seller open to a 12% 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?
• 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?
• 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.