476 Airway Ave · Tyler, TX 75704

$189,999

3 bd · 2.0 ba · 1,216 sqft · Manufactured public records · 67 Days on market

Built 2001

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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 +20.5/30.0
• ARV discount +7.5/15.0
• DSCR +6.5/10.0
• 1% rule +4.1/10.0
• Livability +3.8/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great investment opportunity at 476 Airway Ave, Tyler, TX 75704! This property sits on approximately half an acre and includes two mobile homes, offering excellent potential for rental income or house hacking. The main home features 3 bedrooms, 2 bathrooms, and over 1,200 sq ft, and is move-in ready, making it perfect to live in or rent out right away. The second mobile home needs repairs but provides a great opportunity to renovate and add even more value. Conveniently located near the airport and major roads, this property offers flexibility—live in one home and rent the other or fix up both for increased income potential. Sold as-is. Don’t miss your chance to own a property with built-in income possibilities and room to grow! Let's Schedule a showing today!

Key facts

• Room to grow
• Two mobile homes
• Rental income

Tags

• HALF AN ACRE
• TWO MOBILE HOMES
• RENTAL INCOME
• BUILT-IN INCOME POSSIBILITIES
• ROOM TO GROW

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $190k.

Deal economics

• At list price, monthly cash flow is $249 ($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 $173k (9.1% below list).
• Recommended offer: $173k (9.1% below list) — sets the bar for 1% rule.
• Cap rate 7.9% vs local median 3.6% in Tyler — 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 75/100 on livability (#147 in TX, #4,181 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, schools D+, crime D+.
• Tyler ISD (urban): math 39% / reading 38% proficiency, ranked #449 of 826 in TX (top 54%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 191 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; 595 units permitted in Smith County in 2024 (45 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 $6k of value loss. Plan a longer hold.
• Smith County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 67 days — a 6% lower offer ($179k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 7y ago; this cycle's ask has dropped $10k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 63% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $172,733 (9.1% below list)

Questions for the listing agent

1. It's been on market 67 days. Have you received any prior offers? Is the seller open to a 9% 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. 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?
5. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. 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.
7. 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.
8. 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: 0.91% ✗
• Cap rate: 7.86%
• Cash-on-cash: 5.61%
• DSCR: 1.25
• GRM: 9.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -7.7%
• Equity multiple: 0.72×
• Total profit: $-15,039
• Equity at exit: $28,329

10-year hold

• IRR: 1.8%
• Equity multiple: 1.13×
• Total profit: $6,920
• Equity at exit: $16,428

Cash invested: $53,200 (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 75704

• Home prices YoY: -17.6%
• Active inventory: 191
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,727 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$40 /mo · $483/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$363
• Net cashflow: $249

Break-even live

Break-even rent $1,412

Max offer price $189,999

Occupancy floor 81%

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12400 Kara Lynn Pl Tyler, TX	3.0	2.0	1539	$1,745	$1.13	20d	3	0.61mi
5816 Deauville St Tyler, TX	3.0	2.0	1433	$1,850	$1.29	43d	1	1.31mi
12890 County Road 46 Tyler, TX	2.0	1.0	1500	$1,550	$1.03	43d	1	1.40mi

Listing history 28 events

1. 2026-06-19
   days on market $189,999 Active 67 DOM
2. 2026-06-18
   days on market $189,999 Active 66 DOM
3. 2026-06-17
   days on market $189,999 Active 65 DOM
4. 2026-06-16
   days on market $189,999 Active 64 DOM
5. 2026-06-15
   days on market $189,999 Active 63 DOM
6. 2026-06-14
   days on market $189,999 Active 61 DOM
7. 2026-06-13
   days on market $189,999 Active 60 DOM
8. 2026-06-10
   days on market $189,999 Active 58 DOM
9. 2026-06-09
   days on market $189,999 Active 57 DOM
10. 2026-06-08
    days on market $189,999 Active 56 DOM
11. 2026-06-07
    days on market $189,999 Active 55 DOM
12. 2026-06-05
    days on market $189,999 Active 52 DOM
13. 2026-06-02
    days on market $189,999 Active 50 DOM
14. 2026-06-01
    days on market $189,999 Active 49 DOM
15. 2026-05-31
    days on market $189,999 Active 48 DOM
16. 2026-05-30
    days on market $189,999 Active 47 DOM
17. 2026-04-14
    listed $199,999 Active 782-char remark

    Show marketing remark (782 chars)

    Great investment opportunity at 476 Airway Ave, Tyler, TX 75704! This property sits on approximately half an acre and includes two mobile homes, offering excellent potential for rental income or house hacking. The main home features 3 bedrooms, 2 bathrooms, and over 1,200 sq ft, and is move-in ready, making it perfect to live in or rent out right away. The second mobile home needs repairs but provides a great opportunity to renovate and add even more value. Conveniently located near the airport and major roads, this property offers flexibility—live in one home and rent the other or fix up both for increased income potential. Sold as-is. Don’t miss your chance to own a property with built-in income possibilities and room to grow! Let's Schedule a showing today!

18. 2026-03-31
    historical
19. 2026-03-05
    price $205,000
20. 2026-03-05
    status Active
21. 2026-03-01
    historical
22. 2025-11-30
    price $212,000
23. 2025-10-22
    price $220,000
24. 2025-09-30
    price $230,000
25. 2025-09-12
    price $240,000
26. 2025-07-26
    listed $245,000 Active
27. 2019-01-30
    soldstatus
28. 2019-01-04
    listed $59,100

ⓘ 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: $483 · $40/mo
• Projected year-2 tax: $3,477 · $290/mo
• Expected delta: +$2,994/yr (+$249/mo · 619.4%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥109°F today · 24 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 63% 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: $20,728
• − Mortgage interest: −$10,643
• − Property taxes: −$483
• − Insurance: −$950
• − Repairs & maintenance: −$1,658
• − Management: −$1,658
• − Depreciation: −$5,527
• Taxable loss: −$192
• Est. tax savings @ 24.0%: +$46
• After-tax cash flow: $3,031/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: Tyler ISD
• NCES district ID: 4843470
• Math proficiency: 39% ▼ -4.00%
• Reading proficiency: 38% ▼ -1.00%
• Median HH income: $44,090
• Composite: 32.69/100
• National rank: #5650
• State rank: #449 of 826 in TX

Livability — Tyler

• Score: 75/100
• State rank: #147
• US rank: #4181

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 127,842
• Population (ZIP): 9,280

Population outlook (Smith County) Hauer SSP2

• Today (2025): 248,890 people
• By 2030: 261,665 · +5.1%
• By 2040: 286,114 · +15.0%
• By 2050: 308,006 · +23.8%
• By 2075: 354,171 · +42.3%
• By 2100: 372,828 · +49.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 53% Black 26% Hispanic / Latino 17% Two or more races 6% Asian 1%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Italian 1% Portuguese 1% Slovak 1%
• Foreign-born: 11% · Canada
• Languages at home: 84% English-only · Spanish 15% Arabic 1%

Political lean MEDSL · Smith

• 2024 margin: Solid R (+45.1) · D 27.0% · R 72.1%
• 2008→2024 swing: -5.6pp toward R · 2008: -39.5pp · 2024: -45.1pp
• All cycles: 2024: R+45.1 2020: R+39.4 2016: R+43.9 2012: R+46.9 2008: R+39.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -46.96%
• Current HPI: 219.5206
• 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

+238.4% since first listed

12 events — show timeline

• 2026-04-14 Listed $199,999 GTAR
• 2026-03-31 Listing Removed — NTREIS
• 2026-03-05 Price Changed $205,000 NTREIS
• 2026-03-05 Relisted — NTREIS
• 2026-03-01 Listing Removed — NTREIS
• 2025-11-30 Price Changed $212,000 NTREIS
• 2025-10-22 Price Changed $220,000 NTREIS
• 2025-09-30 Price Changed $230,000 NTREIS
• 2025-09-12 Price Changed $240,000 NTREIS
• 2025-07-26 Listed $245,000 NTREIS
• 2019-01-30 Sold (MLS) — GTAR
• 2019-01-04 Listed $59,100 GTAR

Property tax history

+0.9%/yr

Latest (2018): $483 · -6.9% YoY. Source: county tax records.