105 West Spruce St

Huntington, TX 75949

$174,900D+

3 bd · 2.0 ba · 2,048 sqft · Built 2000 · Manufactured · Pending · 46 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,365/mo
• Mortgage (P&I): −$917
• Tax + insurance: −$406
• HOA: −$0
• Vac / Maint / Mgmt: −$287
• Net cashflow: $-245/mo
• Annual: $-2,939/yr
• Cap rate: 4.61%
• Cash-on-cash: -6.00%
• DSCR: 0.73
• 1% rule: 0.78%
• Cash to close: $48,972

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $175k.
• At list price, monthly cash flow is $-245 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $132k (24.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $136k (22.0% below list).
• It's been on market 46 days — a 3% lower offer ($170k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $132k (24.7% below list) — sets the bar for cash-flow.
• In year one you build about $19k of equity ($1k loan paydown + $17k appreciation (10.0% local appreciation)).
• Location reads 64/100 on livability (#808 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing B+; Watch: amenities F, commute F, employment F.
• Huntington ISD (rural): math 46% / reading 42% proficiency, ranked #303 of 826 in TX (top 37%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Huntington El (math 42% / reading 42%, grade F, #1,335 of 4,322 statewide, top 33%, 482 students, 67% FRL); Huntington Middle (math 51% / reading 38%, grade D, #491 of 1,662 statewide, top 31%, 371 students, 54% FRL); Huntington H S (math 52% / reading 52%, grade D+, #447 of 1,632 statewide, top 29%, 499 students, 52% FRL).
• Market conditions: 113 active listings in the ZIP; 120 units permitted in Angelina County in 2024 (0 in 5+ unit buildings).
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• By year 2, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 4.6% vs local median 2.0% in Huntington — 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.

Questions for listing agent

• 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?
• It's been on market 46 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.