204 S Wickham St · Alvord, TX 76225

$175,000

3 bd · 2.0 ba · 1,232 sqft · Manufactured public records · 179 Days on market

Built 2007 8,407 sqft lot $142/sqft · 12% below area Est $200k · 12% under

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Why this score? — see what drove the C 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 +20.8/30.0
• ARV discount +13.1/15.0
• DSCR +6.6/10.0
• 1% rule +5.2/10.0
• Schools +4.8/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Quaint Country Living in Old Town Alvord! Discover the charm of country living with this delightful 3-bedroom, 2-bathroom manufactured home, perfectly situated on two spacious lots. Nestled in the heart of Old Town Alvord, this property offers tranquility, functionality, and endless potential for your lifestyle dreams. The home boasts a welcoming floor plan with an open-concept living and dining area, providing plenty of space to gather with family and friends. The kitchen is thoughtfully designed with ample cabinetry and counter space, ensuring meal prep is a breeze. The primary bedroom features an en-suite bathroom for added privacy, while two additional bedrooms and a second full bathroom provide comfort for family or guests. Step outside to find a fully fenced backyard that ensures privacy and security for your loved ones and pets. The two generously sized lots provide plenty of space for outdoor activities, gardening, or even future expansion. This property also comes equipped with fantastic amenities, including RV hookups for visiting friends or family, as well as a sturdy storm shelter, offering peace of mind during inclement weather. The mature trees and peaceful surroundings add to the serene country charm of this home. Conveniently located in the quaint community of Old Town Alvord, you'll enjoy the best of small-town living with easy access to nearby amenities, schools, and highways for a quick commute. Whether you're looking for a permanent residence or a weekend getaway, this property is a rare find with so much to offer. Dont miss this opportunity to embrace the quiet country life! Call today to schedule your showing and make this charming property yours. Owner will finance with 20K down, property is currently being used as a rental property with ready built in rental income.

Key facts

• Two spacious lots
• Storm shelter
• Open-concept living

Tags

• OPEN-CONCEPT LIVING
• FULLY FENCED BACKYARD
• TWO SPACIOUS LOTS
• RV HOOKUPS
• STORM SHELTER
• MATURE TREES

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $175k.

Deal economics

• At list price, monthly cash flow is $241 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $154k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.9% vs local median 2.9% in Alvord — 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 69/100 on livability (#402 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: health & safety C-, amenities F, commute F.
• Alvord ISD (rural): math 58% / reading 52% proficiency, ranked #102 of 826 in TX (top 12%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 131 active listings in the ZIP; 460 units permitted in Wise County in 2024 (243 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Wise County population projected at +27% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 179 days — a 12% lower offer ($154k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 21y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $154,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 179 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.02% ✓
• Cap rate: 7.94%
• Cash-on-cash: 5.89%
• DSCR: 1.26
• GRM: 8.1

CMA / ARV

• ARV (median comp): $199,950
• List price: $175,000
• Delta: -12.48%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -7.2%
• Equity multiple: 0.73×
• Total profit: $-13,026
• Equity at exit: $26,093

10-year hold

• IRR: 2.4%
• Equity multiple: 1.17×
• Total profit: $8,411
• Equity at exit: $15,131

Cash invested: $49,000 (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 76225

• Home prices YoY: -8.0%
• Active inventory: 131
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,790 medium
• Mortgage (P&I): −$918
• Tax from tax record: −$182 /mo · $2,190/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$376
• Net cashflow: $241

Break-even live

Break-even rent $1,485

Max offer price $175,000

Occupancy floor 82%

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-06-18
   days on market $175,000 Active 179 DOM
2. 2026-06-17
   days on market $175,000 Active 178 DOM
3. 2026-06-16
   days on market $175,000 Active 177 DOM
4. 2026-06-15
   days on market $175,000 Active 176 DOM
5. 2026-06-13
   days on market $175,000 Active 174 DOM
6. 2026-06-13
   days on market $175,000 Active 173 DOM
7. 2026-06-09
   days on market $175,000 Active 170 DOM
8. 2026-06-08
   days on market $175,000 Active 169 DOM
9. 2026-06-07
   days on market $175,000 Active 168 DOM
10. 2026-06-04
    days on market $175,000 Active 165 DOM
11. 2026-06-03
    days on market $175,000 Active 164 DOM
12. 2026-06-02
    days on market $175,000 Active 163 DOM
13. 2026-06-01
    days on market $175,000 Active 162 DOM
14. 2026-05-31
    days on market $175,000 Active 161 DOM
15. 2026-01-19
    price $175,000 1841-char remark

    Show marketing remark (1841 chars)

    Quaint Country Living in Old Town Alvord! Discover the charm of country living with this delightful 3-bedroom, 2-bathroom manufactured home, perfectly situated on two spacious lots. Nestled in the heart of Old Town Alvord, this property offers tranquility, functionality, and endless potential for your lifestyle dreams. The home boasts a welcoming floor plan with an open-concept living and dining area, providing plenty of space to gather with family and friends. The kitchen is thoughtfully designed with ample cabinetry and counter space, ensuring meal prep is a breeze. The primary bedroom features an en-suite bathroom for added privacy, while two additional bedrooms and a second full bathroom provide comfort for family or guests. Step outside to find a fully fenced backyard that ensures privacy and security for your loved ones and pets. The two generously sized lots provide plenty of space for outdoor activities, gardening, or even future expansion. This property also comes equipped with fantastic amenities, including RV hookups for visiting friends or family, as well as a sturdy storm shelter, offering peace of mind during inclement weather. The mature trees and peaceful surroundings add to the serene country charm of this home. Conveniently located in the quaint community of Old Town Alvord, you'll enjoy the best of small-town living with easy access to nearby amenities, schools, and highways for a quick commute. Whether you're looking for a permanent residence or a weekend getaway, this property is a rare find with so much to offer. Dont miss this opportunity to embrace the quiet country life! Call today to schedule your showing and make this charming property yours. Owner will finance with 20K down, property is currently being used as a rental property with ready built in rental income.

16. 2025-12-19
    listed $180,000 Active 1841-char remark

    Show marketing remark (1841 chars)

    Quaint Country Living in Old Town Alvord! Discover the charm of country living with this delightful 3-bedroom, 2-bathroom manufactured home, perfectly situated on two spacious lots. Nestled in the heart of Old Town Alvord, this property offers tranquility, functionality, and endless potential for your lifestyle dreams. The home boasts a welcoming floor plan with an open-concept living and dining area, providing plenty of space to gather with family and friends. The kitchen is thoughtfully designed with ample cabinetry and counter space, ensuring meal prep is a breeze. The primary bedroom features an en-suite bathroom for added privacy, while two additional bedrooms and a second full bathroom provide comfort for family or guests. Step outside to find a fully fenced backyard that ensures privacy and security for your loved ones and pets. The two generously sized lots provide plenty of space for outdoor activities, gardening, or even future expansion. This property also comes equipped with fantastic amenities, including RV hookups for visiting friends or family, as well as a sturdy storm shelter, offering peace of mind during inclement weather. The mature trees and peaceful surroundings add to the serene country charm of this home. Conveniently located in the quaint community of Old Town Alvord, you'll enjoy the best of small-town living with easy access to nearby amenities, schools, and highways for a quick commute. Whether you're looking for a permanent residence or a weekend getaway, this property is a rare find with so much to offer. Dont miss this opportunity to embrace the quiet country life! Call today to schedule your showing and make this charming property yours. Owner will finance with 20K down, property is currently being used as a rental property with ready built in rental income.

17. 2022-07-18
    soldstatus
18. 2022-07-14
    soldstatus Closed 111-char remark

    Show marketing remark (111 chars)

    Little diamond not so rough, 3 bedrooms 2 bath doublewide with nice large covered porch on beautiful treed lot.

19. 2022-06-17
    status Pending 111-char remark

    Show marketing remark (111 chars)

    Little diamond not so rough, 3 bedrooms 2 bath doublewide with nice large covered porch on beautiful treed lot.

20. 2022-06-08
    price $164,000 111-char remark

    Show marketing remark (111 chars)

    Little diamond not so rough, 3 bedrooms 2 bath doublewide with nice large covered porch on beautiful treed lot.

21. 2022-05-26
    listed $169,000 Active 111-char remark

    Show marketing remark (111 chars)

    Little diamond not so rough, 3 bedrooms 2 bath doublewide with nice large covered porch on beautiful treed lot.

22. 2014-09-23
    soldstatus Sold
23. 2014-08-25
    price $59,900
24. 2014-08-22
    listed $159,900 Active
25. 2012-08-28
    soldstatus
26. 2012-08-24
    soldstatus Closed
27. 2012-08-15
    status Pending
28. 2012-08-10
    status Active Option Contract
29. 2012-07-24
    historical
30. 2012-07-11
    status Active
31. 2012-06-30
    status Pending
32. 2012-05-29
    price $57,500
33. 2012-05-01
    price $60,000 Active
34. 2012-05-01
    status Active
35. 2012-04-12
    status Pending
36. 2012-03-31
    listed $65,000 Active
37. 2010-06-30
    soldstatus
38. 2010-06-14
    historical
39. 2010-04-08
    listed $40,000
40. 2007-08-23
    soldstatus
41. 2007-06-17
    soldstatus
42. 2007-06-11
    soldstatus
43. 2007-05-17
    historical
44. 2006-11-18
    listed $9,850
45. 2006-05-24
    soldstatus
46. 2006-05-12
    soldstatus
47. 2006-03-13
    historical
48. 2005-11-08
    listed $8,500
49. 2002-04-25
    soldstatus
50. 1998-07-28
    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: $2,190 · $182/mo
• Projected year-2 tax: $3,202 · $267/mo
• Expected delta: +$1,013/yr (+$84/mo · 46.2%)

ⓘ 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 7/10 Severe
• 🌡 Heat 6/10 Major 7 d/yr ≥109°F today · 21 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 16% 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: $21,475
• − Mortgage interest: −$9,803
• − Property taxes: −$2,190
• − Insurance: −$875
• − Repairs & maintenance: −$1,718
• − Management: −$1,718
• − Depreciation: −$5,091
• Taxable income: $80
• Est. tax owed @ 24.0%: −$19
• After-tax cash flow: $2,868/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: Alvord ISD
• NCES district ID: 4808100
• Math proficiency: 58% ▼ -4.00%
• Reading proficiency: 52% ▼ -6.00%
• Median HH income: $57,194
• Composite: 47.65/100
• National rank: #2246
• State rank: #102 of 826 in TX

Livability — Alvord

• Score: 69/100
• State rank: #402
• US rank: #8338

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Alvord, TX
• Population (ZIP): 3,311

Population outlook (Wise County) Hauer SSP2

• Today (2025): 71,620 people
• By 2030: 75,858 · +5.9%
• By 2040: 83,908 · +17.2%
• By 2050: 90,717 · +26.7%
• By 2075: 107,583 · +50.2%
• By 2100: 114,996 · +60.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Hispanic / Latino 4% Two or more races 3% Black 1%
• Common ancestry: Romanian 5% Slovak 2% Scotch-Irish 1%
• Foreign-born: 1%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Wise

• 2024 margin: Solid R (+70.0) · D 14.7% · R 84.7%
• 2008→2024 swing: -14.3pp toward R · 2008: -55.7pp · 2024: -70.0pp
• All cycles: 2024: R+70.0 2020: R+68.2 2016: R+69.9 2012: R+67.5 2008: R+55.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -21.95%
• Current HPI: 251.2254
• Rent YoY: —
• Metro: —
• 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

+1958.8% since first listed

38 events — show timeline

• 2026-01-19 Price Changed $175,000 NTREIS
• 2025-12-19 Listed $180,000 NTREIS
• 2022-07-18 Sold (Public Records) — Public Records
• 2022-07-14 Sold (MLS) — NTREIS
• 2022-06-17 Pending — NTREIS
• 2022-06-08 Price Changed $164,000 NTREIS
• 2022-05-26 Listed $169,000 NTREIS
• 2014-09-23 Sold (MLS) — NTREIS
• 2014-08-25 Price Changed $59,900 NTREIS
• 2014-08-22 Listed $159,900 NTREIS
• 2012-08-28 Sold (Public Records) — Public Records
• 2012-08-24 Sold (MLS) — NTREIS
• 2012-08-15 Pending — NTREIS
• 2012-08-10 Relisted — NTREIS
• 2012-07-24 Listing Removed — NTREIS
• 2012-07-11 Relisted — NTREIS
• 2012-06-30 Pending — NTREIS
• 2012-05-29 Price Changed $57,500 NTREIS
• 2012-05-01 Relisted — NTREIS
• 2012-05-01 Price Changed $60,000 NTREIS
• 2012-04-12 Pending — NTREIS
• 2012-03-31 Listed $65,000 NTREIS
• 2010-06-30 Sold (MLS) — NTREIS
• 2010-06-14 Listing Removed — NTREIS
• 2010-04-08 Listed $40,000 NTREIS
• 2007-08-23 Sold (Public Records) — Public Records
• 2007-06-17 Sold (MLS) — NTREIS
• 2007-06-11 Sold (Public Records) — Public Records
• 2007-05-17 Listing Removed — NTREIS
• 2006-11-18 Listed $9,850 NTREIS
• 2006-05-24 Sold (Public Records) — Public Records
• 2006-05-12 Sold (MLS) — NTREIS
• 2006-03-13 Listing Removed — NTREIS
• 2005-11-08 Listed $8,500 NTREIS
• 2002-04-25 Sold (Public Records) — Public Records
• 1998-07-28 Sold (Public Records) — Public Records
• 1998-01-21 Sold (Public Records) — Public Records
• 1994-04-05 Sold (Public Records) — Public Records

Property tax history

+1.4%/yr

Latest (2025): $2,190 · -2.8% YoY. Source: county tax records.