211 S Vista Dr

Lakeshore Gardens-Hidden Acres, TX 78383

$68,000B-

3 bd · 2.0 ba · 1,008 sqft · Built 1985 · Manufactured · Pending · 162 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,424/mo
• Mortgage (P&I): −$357
• Tax + insurance: −$67
• HOA: −$0
• Vac / Maint / Mgmt: −$299
• Net cashflow: $702/mo
• Annual: $8,420/yr
• Cap rate: 18.68%
• Cash-on-cash: 44.22%
• DSCR: 2.97
• 1% rule: 2.09%
• Cash to close: $19,040

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $68k.
• At list price, monthly cash flow is $702 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $68k).
• It's been on market 162 days — a 12% lower offer ($60k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $60k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $470 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• George West ISD (rural): math 55% / reading 59% proficiency, ranked #95 of 826 in TX (top 12%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 119 active listings in the ZIP; 12 units permitted in Live Oak County in 2024 (0 in 5+ unit buildings).
• Live Oak County population projected at +33% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 5 sale attempts since 7y ago; this cycle's ask has dropped $12k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~3 years — after that, you're playing with house money.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/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 162 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.
• 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.