2010 Spring Ct Unit 2010-2014 · Azle, TX 76020

$200,000

6 bd · 4.0 ba · 1,960 sqft · Manufactured · 95 Days on market

Fair condition 0.68 ac lot $102/sqft · 16% below area Est $240k · 16% under

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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 +26.2/30.0
• ARV discount +14.9/15.0
• DSCR +8.9/10.0
• 1% rule +7.0/10.0
• Schools +3.6/10.0
• Livability +3.6/5.0
• Rent growth +3.1/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Owner financing available! Financiamiento de dueño a dueño disponible! Two single-wide homes situated on a combined lot of over half an acre! Each home sits on its own individual lot and features separate water and electric meters, as well as its own septic system, providing flexibility for ownership or rental purposes. Together, the properties offer a total of 6 bedrooms and 4 bathrooms, making them ideal for a family compound, multigenerational living, or a versatile investment opportunity. Live in one home and rent the other, or lease both for steady rental income. The properties are located outside city limits, resulting in lower property taxes, while still offering convenient access to Azle Highway and quick connections to Fort Worth, Weatherford, and Azle. This unique setup offers space, flexibility, and strong potential for buyers seeking versatility, value, and long-term opportunity.

Key facts

• Combined lot
• Individual lot
• Lower property taxes

Tags

• COMBINED LOT
• INDIVIDUAL LOT
• SEPARATE WATER METERS
• SEPARATE ELECTRIC METERS
• SEPTIC SYSTEM
• LOWER PROPERTY TAXES

What this means for you Summary

Snapshot

• This is a 6-bed/4.0-bath manufactured listed at $200k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $511 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Recommended offer: $182k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.4% vs local median 3.1% in Azle — 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 72/100 on livability (#267 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment A; Watch: schools C-, health & safety D+, amenities F.
• Azle ISD (suburban): math 37% / reading 43% proficiency, ranked #351 of 826 in TX (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.3%/yr); 591 active listings in the ZIP; solid renter incomes; 437 units permitted in Parker County in 2024 (0 in 5+ unit buildings).
• This rent runs 33% of the median local income ($87k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• 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.
• Parker County population projected at +32% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 95 days — a 9% lower offer ($182k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $182,000 (9.0% below list)

Questions for the listing agent

1. It's been on market 95 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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. 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.
6. 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.
7. 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: 1.20% ✓
• Cap rate: 9.36%
• Cash-on-cash: 10.95%
• DSCR: 1.49
• GRM: 7.0

CMA / ARV

• ARV (median comp): $239,500
• List price: $200,000
• Delta: -16.49%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.31% rent growth · sell at horizon

5-year hold

• IRR: -0.7%
• Equity multiple: 0.97×
• Total profit: $-1,467
• Equity at exit: $29,821

10-year hold

• IRR: 8.3%
• Equity multiple: 1.61×
• Total profit: $34,107
• Equity at exit: $17,292

Cash invested: $56,000 (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 76020

• Home prices YoY: -20.6%
• Rents YoY: 2.3%
• Active inventory: 591
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $2,397 medium
• Mortgage (P&I): −$1,049
• Tax est. 1.5%: −$250 /mo · $3,000/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$503
• Net cashflow: $511

Break-even live

Break-even rent $1,750

Max offer price $200,000

Occupancy floor 74%

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $200,000 Active 95 DOM
2. 2026-06-17
   days on market $200,000 Active 94 DOM
3. 2026-06-16
   days on market $200,000 Active 93 DOM
4. 2026-06-15
   days on market $200,000 Active 92 DOM
5. 2026-06-13
   days on market $200,000 Active 90 DOM
6. 2026-06-13
   days on market $200,000 Active 89 DOM
7. 2026-06-09
   days on market $200,000 Active 86 DOM
8. 2026-06-08
   days on market $200,000 Active 85 DOM
9. 2026-06-07
   days on market $200,000 Active 84 DOM
10. 2026-06-04
    days on market $200,000 Active 81 DOM
11. 2026-06-03
    days on market $200,000 Active 80 DOM
12. 2026-06-02
    remarks 699-char remark
13. 2026-06-02
    days on market $200,000 Active 79 DOM
14. 2026-06-01
    days on market $200,000 Active 78 DOM
15. 2026-05-31
    days on market $200,000 Active 77 DOM
16. 2026-05-18
    historical Active Option Contract 925-char remark

    Show marketing remark (925 chars)

    Owner financing available! Financiamiento de dueño a dueño disponible! Two single-wide homes situated on a combined lot of over half an acre! Each home sits on its own individual lot and features separate water and electric meters, as well as its own septic system, providing flexibility for ownership or rental purposes. Together, the properties offer a total of 6 bedrooms and 4 bathrooms, making them ideal for a family compound, multigenerational living, or a versatile investment opportunity. Live in one home and rent the other, or lease both for steady rental income. The properties are located outside city limits, resulting in lower property taxes, while still offering convenient access to Azle Highway and quick connections to Fort Worth, Weatherford, and Azle. This unique setup offers space, flexibility, and strong potential for buyers seeking versatility, value, and long-term opportunity.

17. 2026-03-15
    listed $200,000 Active 925-char remark

    Show marketing remark (925 chars)

    Owner financing available! Financiamiento de dueño a dueño disponible! Two single-wide homes situated on a combined lot of over half an acre! Each home sits on its own individual lot and features separate water and electric meters, as well as its own septic system, providing flexibility for ownership or rental purposes. Together, the properties offer a total of 6 bedrooms and 4 bathrooms, making them ideal for a family compound, multigenerational living, or a versatile investment opportunity. Live in one home and rent the other, or lease both for steady rental income. The properties are located outside city limits, resulting in lower property taxes, while still offering convenient access to Azle Highway and quick connections to Fort Worth, Weatherford, and Azle. This unique setup offers space, flexibility, and strong potential for buyers seeking versatility, value, and long-term opportunity.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 22 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $28,760
• − Mortgage interest: −$11,203
• − Property taxes: −$3,000
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,301
• − Management: −$2,301
• − Depreciation: −$5,818
• Taxable income: $3,137
• Est. tax owed @ 24.0%: −$753
• After-tax cash flow: $5,382/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This manufactured home requires significant updates to its kitchen, bathrooms, exterior, flooring, and interior paint to improve its condition and value.

Repairs flagged

• Major kitchen cabinets — severely dated and worn
• Major bathroom fixtures — outdated and small
• Major exterior siding — weathered and missing paint
• Major flooring — dated and worn
• Major interior paint — peeling and outdated colors
• Major windows — old and single-pane

Value-add opportunities

• Resale new kitchen cabinets and countertops — modernizing the kitchen would attract more buyers
• Resale new bathroom fixtures and vanity — upgrading the bathrooms would improve the home's appeal
• Resale new exterior siding and paint — a fresh exterior would make the home more attractive
• Resale new flooring — new flooring would improve the home's overall appearance
• Resale new paint and interior updates — updating the interior would make the home more appealing
• Resale new windows — new windows would improve energy efficiency and curb appeal

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · severely dated and worn	Major	$15,000–50,000
bathroom fixtures · outdated and small	Major	$15,000–50,000
exterior siding · weathered and missing paint	Major	$15,000–50,000
flooring · dated and worn	Major	$15,000–50,000
interior paint · peeling and outdated colors	Major	$15,000–50,000
windows · old and single-pane	Major	$15,000–50,000
Total estimated repair cost · 6 items		$90,000–300,000

Value-add ROI direction

• Resale new kitchen cabinets and countertops — modernizing the kitchen would attract more buyers ↑
• Resale new bathroom fixtures and vanity — upgrading the bathrooms would improve the home's appeal ↑
• Resale new exterior siding and paint — a fresh exterior would make the home more attractive ↑
• Resale new flooring — new flooring would improve the home's overall appearance ↑
• Resale new paint and interior updates — updating the interior would make the home more appealing ↑
• Resale new windows — new windows would improve energy efficiency and curb appeal ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Azle ISD
• NCES district ID: 4809200
• Math proficiency: 37% ▼ -11.00%
• Reading proficiency: 43% ▼ -5.00%
• Median HH income: $61,473
• Composite: 35.57/100
• National rank: #4900
• State rank: #351 of 826 in TX

Livability — Azle

• Score: 72/100
• State rank: #267
• US rank: #6239

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Parker County · 144,797 people
• City population: 34,602
• Metro: Dallas-Fort Worth-Arlington, TX
• Population (ZIP): 34,602
• Household income: $87,298
• Rent vs Own: 22.3% rent · 77.7% own
• Severe rent burden: 433.0

Population outlook (Parker County) Hauer SSP2

• Today (2025): 147,426 people
• By 2030: 157,863 · +7.1%
• By 2040: 177,519 · +20.4%
• By 2050: 194,786 · +32.1%
• By 2075: 238,799 · +62.0%
• By 2100: 264,126 · +79.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Hispanic / Latino 18% Two or more races 9% Black 1%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Slovak 2% Italian 1% Portuguese 1%
• Foreign-born: 5% · Canada
• Languages at home: 89% English-only · Spanish 11%

Political lean MEDSL · Parker

• 2024 margin: Solid R (+66.4) · D 16.4% · R 82.8%
• 2008→2024 swing: -11.2pp toward R · 2008: -55.2pp · 2024: -66.4pp
• All cycles: 2024: R+66.4 2020: R+64.4 2016: R+67.5 2012: R+65.8 2008: R+55.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -74.72%
• Current HPI: 287.155
• Rent YoY: ▲ 2.31%
• Metro: Dallas-Fort Worth-Arlington, 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

2 events — show timeline

• 2026-05-18 Contingent — NTREIS
• 2026-03-15 Listed $200,000 NTREIS