350 County Road 4030

Mount Pleasant, TX 75455

$229,900F

5 bd · 2.5 ba · 2,128 sqft · Built 1995 · Manufactured · Active · 13 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,372/mo
• Mortgage (P&I): −$1,206
• Tax + insurance: −$155
• HOA: −$0
• Vac / Maint / Mgmt: −$288
• Net cashflow: $-277/mo
• Annual: $-3,321/yr
• Cap rate: 4.85%
• Cash-on-cash: -5.16%
• DSCR: 0.77
• 1% rule: 0.60%
• Cash to close: $64,372

Investor read

• This is a 5-bed/2.5-bath manufactured listed at $230k.
• At list price, monthly cash flow is $-277 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $181k (21.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $137k (40.3% below list).
• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $137k (40.3% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 77/100 on livability (#81 in TX, #2,808 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, amenities D-, commute F.
• Mount Pleasant ISD (town): math 45% / reading 44% proficiency, ranked #291 of 826 in TX (top 35%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: E C Brice El (math 47% / reading 52%, grade D, #865 of 4,322 statewide, top 21%, 460 students, 80% FRL); P E Wallace Middle (math 39% / reading 37%, grade F, #717 of 1,662 statewide, top 44%, 658 students, 82% FRL); Mount Pleasant H S (math 68% / reading 54%, grade C+, #258 of 1,632 statewide, top 16%, 1,521 students, 79% FRL).
• Market conditions: 384 active listings in the ZIP; 47 units permitted in Titus County in 2024 (10 in 5+ unit buildings).
• 6 sale attempts since 6y 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.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 4.8% vs local median 3.1% in Mount Pleasant — 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.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.