1135 Ira Ward Ln · Lindsay, TX 76240

$165,000

3 bd · 2.0 ba · 1,140 sqft · Manufactured public records · 41 Days on market

1.19 ac lot $145/sqft · 75% below area

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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 +20.3/30.0
• ARV discount +7.5/15.0
• DSCR +6.4/10.0
• Schools +5.9/10.0
• 1% rule +4.9/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• 1.19 acre lot
• Listed 40 days

Property features AI

Finance

• Other: Special taxing entities: No
• Financial info: Listing terms: Cash; Loan type: Treat as clear; Second mortgage: No
• HOA & community: No association

Exterior

• Parking: Covered parking for 2 vehicles; Carport; RV carport; Driveway parking; Gravel parking; Additional on-site and open/outside parking; Storage parking / space for storage
• Utilities: Co-op electric; Co-op water; Electricity available and connected; Septic; Outside city limits
• Home design: Single family residence; One story; Property attached: Yes
• Construction: Siding construction; Pillar/post/pier foundation; Preowned
• Exterior features: Covered deck; Front porch; Private yard; RV/boat parking; Storage; Native landscaping; Creek on property; Waterfront / water/lake view; Rolling slope; Large backyard with grass; Interior lot; Acreage (about 1.19 acres)

Interior

• Kitchen: Eat-in kitchen; No appliances specified
• Bedrooms: 2 bedrooms (both on main level); Primary bedroom on main level
• Flooring: Carpet
• Bathrooms: 2 full bathrooms
• Heating & cooling: No heating specified; No cooling specified
• Interior features: Open floorplan; Eat-in kitchen; One living area; One dining area; 6 total rooms
• Laundry & utility: Electric dryer hookup; Utility room on main level

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $165k.

Deal economics

• At list price, monthly cash flow is $211 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $163k (1.2% below list).
• Recommended offer: $160k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 80/100 on livability (#42 in TX, #1,865 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities F, commute F, health & safety F.
• Muenster ISD (rural): math 67% / reading 69% proficiency, ranked #19 of 826 in TX (top 2%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 15% free/reduced lunch — higher-income household profile.
• Zoned schools: Muenster El (math 72% / reading 67%, grade A-, #146 of 4,322 statewide, top 4%, 307 students, 28% FRL).
• Market conditions: 462 active listings in the ZIP; 190 units permitted in Cooke County in 2024 (0 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.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($160k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $160,050 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 0.99% ✗
• Cap rate: 7.83%
• Cash-on-cash: 5.48%
• DSCR: 1.24
• GRM: 8.4

CMA / ARV

• ARV (median comp): $648,485
• List price: $165,000
• Delta: -74.56%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -7.8%
• Equity multiple: 0.71×
• Total profit: $-13,323
• Equity at exit: $24,602

10-year hold

• IRR: 1.7%
• Equity multiple: 1.12×
• Total profit: $5,631
• Equity at exit: $14,266

Cash invested: $46,200 (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 76240

• Active inventory: 462
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,630 medium
• Mortgage (P&I): −$865
• Tax from tax record: −$143 /mo · $1,717/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$342
• Net cashflow: $211

Break-even live

Break-even rent $1,363

Max offer price $165,000

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-19
   days on market $165,000 Active 41 DOM
2. 2026-06-18
   days on market $165,000 Active 40 DOM
3. 2026-06-17
   days on market $165,000 Active 39 DOM
4. 2026-06-16
   days on market $165,000 Active 38 DOM
5. 2026-06-15
   days on market $165,000 Active 37 DOM
6. 2026-06-14
   days on market $165,000 Active 35 DOM
7. 2026-06-12
   days on market $165,000 Active 34 DOM
8. 2026-06-09
   days on market $165,000 Active 31 DOM
9. 2026-06-08
   days on market $165,000 Active 30 DOM
10. 2026-06-07
    days on market $165,000 Active 29 DOM
11. 2026-06-05
    days on market $165,000 Active 26 DOM
12. 2026-06-02
    days on market $165,000 Active 24 DOM
13. 2026-06-01
    days on market $165,000 Active 23 DOM
14. 2026-05-31
    days on market $165,000 Active 22 DOM
15. 2026-05-30
    days on market $165,000 Active 21 DOM
16. 2026-05-09
    listed $165,000 Active 947-char remark
17. 2008-05-14
    soldstatus
18. 2005-07-29
    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: $1,717 · $143/mo
• Projected year-2 tax: $3,020 · $252/mo
• Expected delta: +$1,302/yr (+$109/mo · 75.8%)

ⓘ 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 ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 13% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,564
• − Mortgage interest: −$9,243
• − Property taxes: −$1,717
• − Insurance: −$825
• − Repairs & maintenance: −$1,565
• − Management: −$1,565
• − Depreciation: −$4,800
• Taxable loss: −$151
• Est. tax savings @ 24.0%: +$36
• After-tax cash flow: $2,566/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: Muenster ISD
• NCES district ID: 4831860
• Math proficiency: 67% ▼ -10.00%
• Reading proficiency: 69% ▼ -4.00%
• Median HH income: $63,542
• Composite: 59.0/100
• National rank: #963
• State rank: #19 of 826 in TX

Livability — Lindsay

• Score: 80/100
• State rank: #42
• US rank: #1865

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Cooke County · 29,419 people
• Metro: Gainesville, TX
• Population (ZIP): 29,419
• Household income: $71,502
• Rent vs Own: 32.6% rent · 67.4% own
• Severe rent burden: 660.0

Population outlook (Cooke County) Hauer SSP2

• Today (2025): 39,965 people
• By 2030: 39,974 · +0.0%
• By 2040: 39,772 · -0.5%
• By 2050: 39,258 · -1.8%
• By 2075: 37,262 · -6.8%
• By 2100: 33,363 · -16.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (66%)
• Race & ethnicity: White 66% Hispanic / Latino 24% Two or more races 14% Black 5%
• Hispanic origin (detail): Mexican 21%
• Common ancestry: Serbian 2% Lithuanian 2% Slovak 1%
• Foreign-born: 8% · Canada
• Languages at home: 83% English-only · Spanish 16% Other Indo-European 1%

Political lean MEDSL · Cooke

• 2024 margin: Solid R (+66.9) · D 16.2% · R 83.1%
• 2008→2024 swing: -8.2pp toward R · 2008: -58.7pp · 2024: -66.9pp
• All cycles: 2024: R+66.9 2020: R+65.2 2016: R+68.1 2012: R+67.6 2008: R+58.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -198.63%
• Current HPI: 247.3822
• Rent YoY: —
• Metro: Gainesville, 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

4 events — show timeline

• 2026-05-21 Sold (Public Records) — Public Records
• 2026-05-09 Listed $165,000 NTREIS
• 2008-05-14 Sold (Public Records) — Public Records
• 2005-07-29 Sold (Public Records) — Public Records

Property tax history

+5.1%/yr

Latest (2025): $1,717 · +12.7% YoY. Source: county tax records.