305 Live Oak Ln · Enchanted Oaks, TX 75156

$55,000

2 bd · 2.0 ba · 1,000 sqft · Manufactured public records · 122 Days on market

Built 1968 9,365 sqft lot $55/sqft · 23% below area Est $71k · 23% under $13/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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +3.2/10.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• Rent growth +1.1/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Just a walk to Cedar Creek Lake, this property sits on a spacious, wooded lot and includes a detached shed—perfect for extra storage. The home features two bedrooms, two bathrooms, and an additional flex space that can be used as extra living area, a home office, or whatever suits your needs. Located in a POA community, residents enjoy access to fantastic amenities, including a private boat ramp, docks, and a peaceful picnic area—ideal for weekend fun or relaxing by the water. Whether you're looking for a laid-back lake house, a weekend getaway, or a full-time home, this spot has you covered. Enjoy the tranquility of lakeside living while still being close to everyday conveniences.

Key facts

• Picnic area
• Docks
• Wooded lot

Tags

• WOODED LOT
• DETACHED SHED
• PRIVATE BOAT RAMP
• DOCKS
• PICNIC AREA
• LAKESIDE LIVING

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $55k.

Deal economics

• At list price, monthly cash flow is $906 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $55k).
• Recommended offer: $48k (12.0% below list) — sets the bar for market timing.
• Cap rate 26.1% vs local median 2.2% in Enchanted Oaks — 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 60/100 on livability (#1,103 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A, housing A; Watch: schools F, amenities F, commute F.
• Eustace ISD (rural): math 32% / reading 45% proficiency, ranked #455 of 826 in TX (top 55%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents falling (-5.8%/yr); 699 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 263 units permitted in Henderson County in 2024 (0 in 5+ unit buildings).
• This rent runs 32% of the median local income ($61k/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 $380 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $15k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 122 days — a 12% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 23y ago; this cycle's ask has dropped $5k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 60% 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 122 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 2.95% ✓
• Cap rate: 26.07%
• Cash-on-cash: 70.62%
• DSCR: 4.14
• GRM: 2.8

CMA / ARV

• ARV (median comp): $71,200
• List price: $55,000
• Delta: -22.75%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7657 Double Bridge Rd	0.34mi	3/2.0 (+1)	1,150 (+15%)	19mo	$84,500	$73	38

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 66.8%
• Equity multiple: 3.86×
• Total profit: $44,075
• Equity at exit: $8,201

10-year hold

• IRR: 70.1%
• Equity multiple: 7.13×
• Total profit: $94,405
• 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 75156

• Rents YoY: -5.8%
• Active inventory: 699
• Price-to-rent: 2.8×

Monthly cashflow live

• Estimated rent: $1,624 medium
• Mortgage (P&I): −$288
• Tax from tax record: −$53 /mo · $630/yr
• Insurance: −$23
• HOA: −$13
• Vacancy / Maint / Mgmt: −$341
• Net cashflow: $906

Break-even live

Break-even rent $477

Max offer price $55,000

Occupancy floor 39%

Sensitivity live

Price	-10% $937	-5% $922	+0% $906	+5% $891	+10% $875
Rent	-10% $778	-5% $842	+0% $906	+5% $970	+10% $1,035
Rate	-1.0pp $934	-0.5pp $920	base $906	+0.5pp $892	+1.0pp $878

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 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
120 Trails End St Mabank, TX	2.0	2.0	1176	$1,895	$1.61	44d	1	0.62mi
110 Bowie St Mabank, TX	3.0	2.0	1200	$1,550	$1.29	44d	1	1.08mi

HOA detail

• Monthly dues: $13 · $156/yr
• Likely covers: water

Listing history 22 events

1. 2026-06-19
   days on market $55,000 Active 122 DOM
2. 2026-06-18
   days on market $55,000 Active 121 DOM
3. 2026-06-17
   days on market $55,000 Active 120 DOM
4. 2026-06-16
   days on market $55,000 Active 119 DOM
5. 2026-06-15
   days on market $55,000 Active 118 DOM
6. 2026-06-14
   days on market $55,000 Active 116 DOM
7. 2026-06-12
   days on market $55,000 Active 115 DOM
8. 2026-06-09
   days on market $55,000 Active 112 DOM
9. 2026-06-08
   days on market $55,000 Active 111 DOM
10. 2026-06-07
    days on market $55,000 Active 110 DOM
11. 2026-06-05
    days on market $55,000 Active 107 DOM
12. 2026-06-02
    days on market $55,000 Active 105 DOM
13. 2026-06-01
    days on market $55,000 Active 104 DOM
14. 2026-05-31
    days on market $55,000 Active 103 DOM
15. 2026-05-30
    days on market $55,000 Active 102 DOM
16. 2026-05-17
    price $55,000 709-char remark

    Show marketing remark (709 chars)

    Just a walk to Cedar Creek Lake, this property sits on a spacious, wooded lot and includes a detached shed—perfect for extra storage. The home features two bedrooms, two bathrooms, and an additional flex space that can be used as extra living area, a home office, or whatever suits your needs. Located in a POA community, residents enjoy access to fantastic amenities, including a private boat ramp, docks, and a peaceful picnic area—ideal for weekend fun or relaxing by the water. Whether you're looking for a laid-back lake house, a weekend getaway, or a full-time home, this spot has you covered. Enjoy the tranquility of lakeside living while still being close to everyday conveniences.

17. 2026-02-17
    listed $60,000 Active 709-char remark

    Show marketing remark (709 chars)

    Just a walk to Cedar Creek Lake, this property sits on a spacious, wooded lot and includes a detached shed—perfect for extra storage. The home features two bedrooms, two bathrooms, and an additional flex space that can be used as extra living area, a home office, or whatever suits your needs. Located in a POA community, residents enjoy access to fantastic amenities, including a private boat ramp, docks, and a peaceful picnic area—ideal for weekend fun or relaxing by the water. Whether you're looking for a laid-back lake house, a weekend getaway, or a full-time home, this spot has you covered. Enjoy the tranquility of lakeside living while still being close to everyday conveniences.

18. 2026-02-11
    historical
19. 2025-08-16
    listed $60,000 Active
20. 2003-03-12
    historical
21. 2003-01-14
    listed $6,900
22. 2002-11-05
    soldstatus

ⓘ 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: $630 · $53/mo
• Projected year-2 tax: $1,006 · $84/mo
• Expected delta: +$376/yr (+$31/mo · 59.7%)

ⓘ 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 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 24 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 60% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,492
• − Mortgage interest: −$3,081
• − Property taxes: −$630
• − Insurance: −$275
• − Repairs & maintenance: −$1,559
• − Management: −$1,559
• − HOA: −$156
• − Depreciation: −$1,600
• Taxable income: $10,631
• Est. tax owed @ 24.0%: −$2,551
• After-tax cash flow: $8,325/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: Eustace ISD
• NCES district ID: 4818720
• Math proficiency: 32% ▼ -18.00%
• Reading proficiency: 45% ▼ -7.00%
• Median HH income: $42,425
• Composite: 32.48/100
• National rank: #5711
• State rank: #455 of 826 in TX

Livability — Enchanted Oaks

• Score: 60/100
• State rank: #1103
• US rank: #19536

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Henderson County · 34,977 people
• Metro: Athens, TX
• Population (ZIP): 16,333
• Household income: $60,867
• Rent vs Own: 18.5% rent · 81.5% own
• Severe rent burden: 400.0

Population outlook (Henderson County) Hauer SSP2

• Today (2025): 80,471 people
• By 2030: 80,608 · +0.2%
• By 2040: 80,087 · -0.5%
• By 2050: 78,208 · -2.8%
• By 2075: 72,423 · -10.0%
• By 2100: 61,012 · -24.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Hispanic / Latino 7% Two or more races 7% Black 1%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Slovak 3% Serbian 2% European 2%
• Foreign-born: 4% · Canada, Jamaica
• Languages at home: 94% English-only · Spanish 4% Other Indo-European 1%

Political lean MEDSL · Henderson

• 2024 margin: Solid R (+63.5) · D 18.0% · R 81.4%
• 2008→2024 swing: -18.8pp toward R · 2008: -44.6pp · 2024: -63.5pp
• All cycles: 2024: R+63.5 2020: R+60.2 2016: R+60.0 2012: R+54.8 2008: R+44.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -216.77%
• Current HPI: 199.8108
• Rent YoY: ▼ -5.76%
• Metro: Athens, 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

+697.1% since first listed

7 events — show timeline

• 2026-05-17 Price Changed $55,000 NTREIS
• 2026-02-17 Listed $60,000 NTREIS
• 2026-02-11 Listing Removed — NTREIS
• 2025-08-16 Listed $60,000 NTREIS
• 2003-03-12 Listing Removed — NTREIS
• 2003-01-14 Listed $6,900 NTREIS
• 2002-11-05 Sold (Public Records) — Public Records

Property tax history

+4.6%/yr

Latest (2025): $630 · -2.4% YoY. Source: county tax records.