6275 County Road 325

Blanket, TX 76432

$223,000D+

5 bd · 3.0 ba · 2,128 sqft · Built 1998 · Manufactured · Active · 251 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,947/mo
• Mortgage (P&I): −$1,169
• Tax + insurance: −$239
• HOA: −$0
• Vac / Maint / Mgmt: −$409
• Net cashflow: $130/mo
• Annual: $1,554/yr
• Cap rate: 6.99%
• Cash-on-cash: 2.49%
• DSCR: 1.11
• 1% rule: 0.87%
• Cash to close: $62,440

Investor read

• This is a 5-bed/3.0-bath manufactured listed at $223k.
• At list price, monthly cash flow is $130 ($2k/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 $195k (12.7% below list).
• It's been on market 251 days — a 12% lower offer ($196k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $195k (12.7% below list) — sets the bar for 1% rule.
• In year one you build about $6k of equity ($2k loan paydown + $5k appreciation (2.1% local appreciation)).
• Location reads 61/100 on livability (#1,023 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety D+, employment D, schools F.
• Blanket ISD (rural): math 20% / reading 35% proficiency, ranked #1,046 of 1,141 in TX (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 33 active listings in the ZIP; 142 units permitted in Brown County in 2024 (0 in 5+ unit buildings).
• At projected returns (2.1% appreciation + 3.0% rent growth), your $62k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• 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.

Questions for listing agent

• It's been on market 251 days. Have you received any prior offers? Is the seller open to a 13% 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?
• Crime grade is F 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?
• 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.