205 Cr 1820 · Grapeland, TX 75844

$135,500

2 bd · 2.0 ba · 1,464 sqft · Manufactured · 249 Days on market

Built 1984 0.75 ac lot ↓ 9% since listing

---

Why this score? — see what drove the D 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 +9.7/30.0
• ARV discount +7.5/15.0
• Appreciation +6.9/10.0
• Schools +3.5/10.0
• Livability +3.5/5.0
• 1% rule +2.9/10.0
• DSCR +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

NEW UPDATES! This spacious two bedroom, two bath mobile home with large extra bonus room is a must see. From the welcoming front porch and tree shaded lot, this one feels like home! This home has on open living with a fireplace, laminate flooring, and built-in hutch in the dining area. The kitchen has been updated with new cabinet fronts, new stove, dishwasher, and sink. Both bedrooms are spacious, with each having its own private bath. The interior and exterior of the home have been recently painted, as well as new deck installed on the back of the home. The roof was replaced last year. This home is in the Latexo ISD, on a oversized lot, with a detached garage. It's a must see – call today for a private tour!

Key facts

• Laminate flooring
• Open living
• Built-in hutch

Tags

• WELCOMING FRONT PORCH
• TREE SHADED LOT
• OPEN LIVING
• FIREPLACE
• LAMINATE FLOORING
• BUILT-IN HUTCH

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $136k.

Deal economics

• At list price, monthly cash flow is $-88 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $123k (9.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $107k (20.8% below list).
• Recommended offer: $107k (20.8% below list) — sets the bar for 1% rule.
• Cap rate 5.5% vs local median 1.0% in Grapeland — 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 69/100 on livability (#427 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment D-.
• Latexo ISD (rural): math 37% / reading 47% proficiency, ranked #365 of 826 in TX (top 44%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Latexo El (math 27% / reading 37%, grade F, #2,268 of 4,322 statewide, top 55%, 298 students, 60% FRL); Latexo H S (math 47% / reading 62%, grade C-, #379 of 1,632 statewide, top 26%, 199 students, 51% FRL) — zoned schools average 56% FRL vs 39% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 134 active listings in the ZIP; 3 units permitted in Houston County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($937 loan paydown + $5k appreciation (3.8% local appreciation)).
• Houston County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 6, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 249 days — a 12% lower offer ($119k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $14k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $107,368 (20.8% below list)

Questions for the listing agent

1. 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?
2. It's been on market 249 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.79% ✗
• Cap rate: 5.51%
• Cash-on-cash: -2.79%
• DSCR: 0.88
• GRM: 10.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.77% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 7.2%
• Equity multiple: 1.43×
• Total profit: $16,358
• Equity at exit: $66,923

10-year hold

• IRR: 9.6%
• Equity multiple: 2.57×
• Total profit: $59,401
• Equity at exit: $108,063

Cash invested: $37,940 (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 75844

• Home prices YoY: 2.2%
• Active inventory: 134
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $1,074 medium
• Mortgage (P&I): −$711
• Tax est. 1.5%: −$169 /mo · $2,032/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$225
• Net cashflow: $-88

Break-even live

Break-even rent $1,185

Max offer price $122,737

Occupancy floor —

Sensitivity live

Price	-10% $5	-5% $-41	+0% $-88	+5% $-135	+10% $-182
Rent	-10% $-173	-5% $-131	+0% $-88	+5% $-46	+10% $-3
Rate	-1.0pp $-20	-0.5pp $-54	base $-88	+0.5pp $-123	+1.0pp $-159

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: $33,875
• Closing costs: $4,065
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-21
   days on market $135,500 Active 249 DOM
2. 2026-06-21
   days on market $135,500 Active 248 DOM
3. 2026-06-18
   days on market $135,500 Active 246 DOM
4. 2026-06-17
   days on market $135,500 Active 245 DOM
5. 2026-06-16
   days on market $135,500 Active 244 DOM
6. 2026-06-15
   days on market $135,500 Active 243 DOM
7. 2026-06-13
   days on market $135,500 Active 241 DOM
8. 2026-06-12
   days on market $135,500 Active 240 DOM
9. 2026-06-10
   days on market $135,500 Active 237 DOM
10. 2026-06-08
    days on market $135,500 Active 236 DOM
11. 2026-06-08
    days on market $135,500 Active 235 DOM
12. 2026-06-07
    days on market $135,500 Active 234 DOM
13. 2026-06-03
    days on market $135,500 Active 231 DOM
14. 2026-06-02
    days on market $135,500 Active 230 DOM
15. 2026-06-01
    days on market $135,500 Active 229 DOM
16. 2026-05-31
    days on market $135,500 Active 228 DOM
17. 2026-05-14
    price $135,500 725-char remark

    Show marketing remark (731 chars)

    NEW UPDATES! This spacious two bedroom, two bath mobile home with large extra bonus room is a must see. From the welcoming front porch and tree shaded lot, this one feels like home! This home has on open living with a fireplace, laminate flooring, and built-in hutch in the dining area. The kitchen has been updated with new cabinet fronts, new stove, dishwasher, and sink. Both bedrooms are spacious, with each having its own private bath. The interior and exterior of the home have been recently painted, as well as new deck installed on the back of the home. The roof was replaced last year. This home is in the Latexo ISD, on a oversized lot, with a detached garage. It’s a must see – call today for a private tour!

18. 2026-05-14
    price $135,500 731-char remark

    Show marketing remark (731 chars)

    NEW UPDATES! This spacious two bedroom, two bath mobile home with large extra bonus room is a must see. From the welcoming front porch and tree shaded lot, this one feels like home! This home has on open living with a fireplace, laminate flooring, and built-in hutch in the dining area. The kitchen has been updated with new cabinet fronts, new stove, dishwasher, and sink. Both bedrooms are spacious, with each having its own private bath. The interior and exterior of the home have been recently painted, as well as new deck installed on the back of the home. The roof was replaced last year. This home is in the Latexo ISD, on a oversized lot, with a detached garage. It’s a must see – call today for a private tour!

19. 2026-05-14
    price $135,500

    Show marketing remark (731 chars)

    NEW UPDATES! This spacious two bedroom, two bath mobile home with large extra bonus room is a must see. From the welcoming front porch and tree shaded lot, this one feels like home! This home has on open living with a fireplace, laminate flooring, and built-in hutch in the dining area. The kitchen has been updated with new cabinet fronts, new stove, dishwasher, and sink. Both bedrooms are spacious, with each having its own private bath. The interior and exterior of the home have been recently painted, as well as new deck installed on the back of the home. The roof was replaced last year. This home is in the Latexo ISD, on a oversized lot, with a detached garage. It’s a must see – call today for a private tour!

20. 2026-04-22
    status Active 725-char remark

    Show marketing remark (725 chars)

    NEW UPDATES! This spacious two bedroom, two bath mobile home with large extra bonus room is a must see. From the welcoming front porch and tree shaded lot, this one feels like home! This home has on open living with a fireplace, laminate flooring, and built-in hutch in the dining area. The kitchen has been updated with new cabinet fronts, new stove, dishwasher, and sink. Both bedrooms are spacious, with each having its own private bath. The interior and exterior of the home have been recently painted, as well as new deck installed on the back of the home. The roof was replaced last year. This home is in the Latexo ISD, on a oversized lot, with a detached garage. It's a must see – call today for a private tour!

21. 2026-01-13
    price $139,900 725-char remark

    Show marketing remark (731 chars)

    NEW UPDATES! This spacious two bedroom, two bath mobile home with large extra bonus room is a must see. From the welcoming front porch and tree shaded lot, this one feels like home! This home has on open living with a fireplace, laminate flooring, and built-in hutch in the dining area. The kitchen has been updated with new cabinet fronts, new stove, dishwasher, and sink. Both bedrooms are spacious, with each having its own private bath. The interior and exterior of the home have been recently painted, as well as new deck installed on the back of the home. The roof was replaced last year. This home is in the Latexo ISD, on a oversized lot, with a detached garage. It’s a must see – call today for a private tour!

22. 2026-01-13
    price $139,900 731-char remark

    Show marketing remark (731 chars)

    NEW UPDATES! This spacious two bedroom, two bath mobile home with large extra bonus room is a must see. From the welcoming front porch and tree shaded lot, this one feels like home! This home has on open living with a fireplace, laminate flooring, and built-in hutch in the dining area. The kitchen has been updated with new cabinet fronts, new stove, dishwasher, and sink. Both bedrooms are spacious, with each having its own private bath. The interior and exterior of the home have been recently painted, as well as new deck installed on the back of the home. The roof was replaced last year. This home is in the Latexo ISD, on a oversized lot, with a detached garage. It’s a must see – call today for a private tour!

23. 2026-01-13
    price $139,900

    Show marketing remark (731 chars)

    NEW UPDATES! This spacious two bedroom, two bath mobile home with large extra bonus room is a must see. From the welcoming front porch and tree shaded lot, this one feels like home! This home has on open living with a fireplace, laminate flooring, and built-in hutch in the dining area. The kitchen has been updated with new cabinet fronts, new stove, dishwasher, and sink. Both bedrooms are spacious, with each having its own private bath. The interior and exterior of the home have been recently painted, as well as new deck installed on the back of the home. The roof was replaced last year. This home is in the Latexo ISD, on a oversized lot, with a detached garage. It’s a must see – call today for a private tour!

24. 2025-10-15
    listed $149,000 Active 725-char remark

    Show marketing remark (731 chars)

    NEW UPDATES! This spacious two bedroom, two bath mobile home with large extra bonus room is a must see. From the welcoming front porch and tree shaded lot, this one feels like home! This home has on open living with a fireplace, laminate flooring, and built-in hutch in the dining area. The kitchen has been updated with new cabinet fronts, new stove, dishwasher, and sink. Both bedrooms are spacious, with each having its own private bath. The interior and exterior of the home have been recently painted, as well as new deck installed on the back of the home. The roof was replaced last year. This home is in the Latexo ISD, on a oversized lot, with a detached garage. It’s a must see – call today for a private tour!

25. 2025-10-15
    listed $149,000 Active 731-char remark

    Show marketing remark (731 chars)

    NEW UPDATES! This spacious two bedroom, two bath mobile home with large extra bonus room is a must see. From the welcoming front porch and tree shaded lot, this one feels like home! This home has on open living with a fireplace, laminate flooring, and built-in hutch in the dining area. The kitchen has been updated with new cabinet fronts, new stove, dishwasher, and sink. Both bedrooms are spacious, with each having its own private bath. The interior and exterior of the home have been recently painted, as well as new deck installed on the back of the home. The roof was replaced last year. This home is in the Latexo ISD, on a oversized lot, with a detached garage. It’s a must see – call today for a private tour!

26. 2025-10-15
    listed $149,000 Active

    Show marketing remark (731 chars)

    NEW UPDATES! This spacious two bedroom, two bath mobile home with large extra bonus room is a must see. From the welcoming front porch and tree shaded lot, this one feels like home! This home has on open living with a fireplace, laminate flooring, and built-in hutch in the dining area. The kitchen has been updated with new cabinet fronts, new stove, dishwasher, and sink. Both bedrooms are spacious, with each having its own private bath. The interior and exterior of the home have been recently painted, as well as new deck installed on the back of the home. The roof was replaced last year. This home is in the Latexo ISD, on a oversized lot, with a detached garage. It’s a must see – call today for a private tour!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥110°F today · 25 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,884
• − Mortgage interest: −$7,590
• − Property taxes: −$2,032
• − Insurance: −$678
• − Repairs & maintenance: −$1,031
• − Management: −$1,031
• − Depreciation: −$3,942
• Taxable loss: −$3,419
• Est. tax savings @ 24.0%: +$821
• After-tax cash flow: $-238/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: Latexo ISD
• NCES district ID: 4826910
• Math proficiency: 37% ▼ -2.00%
• Reading proficiency: 47% ▼ -2.00%
• Median HH income: $40,145
• Composite: 35.17/100
• National rank: #5002
• State rank: #365 of 826 in TX

Livability — Grapeland

• Score: 69/100
• State rank: #427
• US rank: #8834

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 5,004

Population outlook (Houston County) Hauer SSP2

• Today (2025): 21,269 people
• By 2030: 20,568 · -3.3%
• By 2040: 19,255 · -9.5%
• By 2050: 17,980 · -15.5%
• By 2075: 15,214 · -28.5%
• By 2100: 11,720 · -44.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Black 16% Hispanic / Latino 6% Two or more races 4% Native American 1%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Serbian 4% Slovak 3% Romanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Houston

• 2024 margin: Solid R (+55.4) · D 22.1% · R 77.4%
• 2008→2024 swing: -18.1pp toward R · 2008: -37.3pp · 2024: -55.4pp
• All cycles: 2024: R+55.4 2020: R+50.3 2016: R+50.9 2012: R+44.3 2008: R+37.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.77%
• Current HPI: 174.906
• 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

-9.1% since first listed

10 events — show timeline

• 2026-05-14 Price Changed $135,500 Deep East Texas MLS
• 2026-05-14 Price Changed $135,500 GTAR
• 2026-05-14 Price Changed $135,500 HARMLS
• 2026-04-22 Relisted — Deep East Texas MLS
• 2026-01-13 Price Changed $139,900 Deep East Texas MLS
• 2026-01-13 Price Changed $139,900 GTAR
• 2026-01-13 Price Changed $139,900 HARMLS
• 2025-10-15 Listed $149,000 HARMLS
• 2025-10-15 Listed $149,000 GTAR
• 2025-10-15 Listed $149,000 Deep East Texas MLS