134 Sunshine Ln

Falcon Mesa, TX 78076

$48,800B

2 bd · 1.0 ba · 896 sqft · Built 1993 · Manufactured · Active · 75 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $868/mo
• Mortgage (P&I): −$256
• Tax + insurance: −$60
• HOA: −$0
• Vac / Maint / Mgmt: −$182
• Net cashflow: $370/mo
• Annual: $4,445/yr
• Cap rate: 15.40%
• Cash-on-cash: 32.53%
• DSCR: 2.45
• 1% rule: 1.78%
• Cash to close: $13,664

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $49k.
• At list price, monthly cash flow is $370 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($868 rent vs $49k).
• It's been on market 75 days — a 6% lower offer ($46k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $46k (6.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($337 loan paydown + $1k appreciation (2.6% local appreciation)).
• Location reads 36/100 on livability (#1,652 in TX) — a limited-amenity area; tenant pool skews transient or value-seeking. Strengths: cost of living A+, crime A; Watch: schools F, amenities F, commute F.
• Zapata County ISD (town): math 21% / reading 24% proficiency, ranked #767 of 826 in TX (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 92 active listings in the ZIP.
• Zapata County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (2.6% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~3 years — after that, you're playing with house money.
• Climate carrying-cost: major wind risk, 56% chance of damaging wind over 30y; 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.

Questions for listing agent

• It's been on market 75 days. Have you received any prior offers? Is the seller open to a 6% 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.
• 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?
• 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.