3285 Broad Oak Dr · Bandera, TX 78003

$210,000

3 bd · 2.0 ba · 1,648 sqft · Manufactured public records · 51 Days on market

Built 2000 1.62 ac lot $127/sqft · 51% below area

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Why this score? — see what drove the F 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 +8.0/30.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Schools +3.1/10.0
• 1% rule +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Under contract with contingent buyer. Seller is accepting backup offers. Welcome home to this charming 3-bedroom, 2-bath double-wide manufactured home nestled on 1.62 peaceful acres in the heart of the Texas Hill Country, just minutes from Bandera. This property offers the kind of quiet, wide-open living that's hard to find, with a wooded back portion of the lot that adds privacy and a true sense of seclusion. Inside, you'll find two living areas, a spacious island kitchen with breakfast bar, a separate dining room, walk-in closets, and a cozy fireplace in the living room. The primary suite features a double vanity and a generous walk-in closet. Step outside and enjoy the large covered patio, perfect for lazy mornings and relaxed evenings. The property is field fenced and ready for livestock or small animals. A chicken coop, a sturdy Tuff Shed, and a one-car carport round out the functionality of this little slice of country paradise. Mature trees and a wooded back acreage complete the picture. No HOA and no restrictions. The Hill Country lifestyle you've been looking for is waiting right here.

Key facts

• Island kitchen
• Walk-in closets
• Two living areas

Tags

• DOUBLE-WIDE MANUFACTURED HOME
• WOODED BACK PORTION
• TWO LIVING AREAS
• ISLAND KITCHEN
• WALK-IN CLOSETS
• LARGE COVERED PATIO

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $210k.

Deal economics

• At list price, monthly cash flow is $-217 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $172k (18.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $158k (24.9% below list).
• Recommended offer: $158k (24.9% below list) — sets the bar for 1% rule.
• Cap rate 5.1% vs local median 1.4% in Bandera — 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 73/100 on livability (#209 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime A; Watch: schools D-, commute F, employment D-.
• Bandera ISD (rural): math 30% / reading 41% proficiency, ranked #500 of 826 in TX (top 60%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 531 active listings in the ZIP; 6 units permitted in Bandera 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 $6k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($204k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 52% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $157,745 (24.9% 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 51 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
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. 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?
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: 0.75% ✗
• Cap rate: 5.05%
• Cash-on-cash: -4.44%
• DSCR: 0.80
• GRM: 11.1

CMA / ARV

• ARV (median comp): $426,149
• List price: $210,000
• Delta: -50.72%
• Verdict: UNDERPRICED
• Comps: 12 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -23.8%
• Equity multiple: 0.19×
• Total profit: $-47,839
• Equity at exit: $31,312

10-year hold

• IRR: -18.7%
• Equity multiple: -0.01×
• Total profit: $-59,354
• Equity at exit: $18,157

Cash invested: $58,800 (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 78003

• Home prices YoY: -14.3%
• Active inventory: 531
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $1,577 medium
• Mortgage (P&I): −$1,101
• Tax from tax record: −$275 /mo · $3,297/yr
• Insurance: −$88
• HOA: −$0
• Vacancy / Maint / Mgmt: −$331
• Net cashflow: $-217

Break-even live

Break-even rent $1,853

Max offer price $171,608

Occupancy floor —

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: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-13
   statusdays on market $210,000 Pending 51 DOM
2. 2026-06-09
   days on market $210,000 Active RFR 48 DOM
3. 2026-06-07
   days on market $210,000 Active RFR 46 DOM
4. 2026-06-04
   days on market $210,000 Active RFR 43 DOM
5. 2026-06-03
   days on market $210,000 Active RFR 42 DOM
6. 2026-06-02
   days on market $210,000 Active RFR 41 DOM
7. 2026-06-01
   days on market $210,000 Active RFR 40 DOM
8. 2026-05-31
   days on market $210,000 Active RFR 39 DOM
9. 2026-05-08
   historical Active RFR 1116-char remark

   Show marketing remark (1116 chars)

   Under contract with contingent buyer. Seller is accepting backup offers. Welcome home to this charming 3-bedroom, 2-bath double-wide manufactured home nestled on 1.62 peaceful acres in the heart of the Texas Hill Country, just minutes from Bandera. This property offers the kind of quiet, wide-open living that's hard to find, with a wooded back portion of the lot that adds privacy and a true sense of seclusion. Inside, you'll find two living areas, a spacious island kitchen with breakfast bar, a separate dining room, walk-in closets, and a cozy fireplace in the living room. The primary suite features a double vanity and a generous walk-in closet. Step outside and enjoy the large covered patio, perfect for lazy mornings and relaxed evenings. The property is field fenced and ready for livestock or small animals. A chicken coop, a sturdy Tuff Shed, and a one-car carport round out the functionality of this little slice of country paradise. Mature trees and a wooded back acreage complete the picture. No HOA and no restrictions. The Hill Country lifestyle you've been looking for is waiting right here.

10. 2026-04-22
    listed $210,000 New 1116-char remark

    Show marketing remark (1116 chars)

    Under contract with contingent buyer. Seller is accepting backup offers. Welcome home to this charming 3-bedroom, 2-bath double-wide manufactured home nestled on 1.62 peaceful acres in the heart of the Texas Hill Country, just minutes from Bandera. This property offers the kind of quiet, wide-open living that's hard to find, with a wooded back portion of the lot that adds privacy and a true sense of seclusion. Inside, you'll find two living areas, a spacious island kitchen with breakfast bar, a separate dining room, walk-in closets, and a cozy fireplace in the living room. The primary suite features a double vanity and a generous walk-in closet. Step outside and enjoy the large covered patio, perfect for lazy mornings and relaxed evenings. The property is field fenced and ready for livestock or small animals. A chicken coop, a sturdy Tuff Shed, and a one-car carport round out the functionality of this little slice of country paradise. Mature trees and a wooded back acreage complete the picture. No HOA and no restrictions. The Hill Country lifestyle you've been looking for is waiting right here.

11. 2021-02-02
    soldstatus
12. 2019-03-15
    soldstatus
13. 2001-02-23
    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: $3,297 · $275/mo
• Projected year-2 tax: $3,843 · $320/mo
• Expected delta: +$546/yr (+$46/mo · 16.6%)

ⓘ 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 5/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 21 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 52% 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: $18,929
• − Mortgage interest: −$11,763
• − Property taxes: −$3,297
• − Insurance: −$1,050
• − Repairs & maintenance: −$1,514
• − Management: −$1,514
• − Depreciation: −$6,109
• Taxable loss: −$6,319
• Est. tax savings @ 24.0%: +$1,516
• After-tax cash flow: $-1,091/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: Bandera ISD
• NCES district ID: 4809360
• Math proficiency: 30% ▼ -7.00%
• Reading proficiency: 41% ▼ -3.00%
• Median HH income: $48,771
• Composite: 30.61/100
• National rank: #6194
• State rank: #500 of 826 in TX

Livability — Bandera

• Score: 73/100
• State rank: #209
• US rank: #5244

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 9,594

Population outlook (Bandera County) Hauer SSP2

• Today (2025): 22,614 people
• By 2030: 23,102 · +2.2%
• By 2040: 23,489 · +3.9%
• By 2050: 23,264 · +2.9%
• By 2075: 23,607 · +4.4%
• By 2100: 22,265 · -1.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 21% Two or more races 15% Native American 1%
• Hispanic origin (detail): Mexican 17%
• Common ancestry: Lithuanian 3% Serbian 3% Romanian 2%
• Foreign-born: 4% · Canada, Jamaica
• Languages at home: 85% English-only · Spanish 14% German/W. Germanic 1%

Political lean MEDSL · Bandera

• 2024 margin: Solid R (+61.9) · D 18.6% · R 80.5%
• 2008→2024 swing: -11.5pp toward R · 2008: -50.4pp · 2024: -61.9pp
• All cycles: 2024: R+61.9 2020: R+59.4 2016: R+63.0 2012: R+59.0 2008: R+50.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -35.80%
• Current HPI: 215.0687
• 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

5 events — show timeline

• 2026-05-08 Contingent — LERA
• 2026-04-22 Listed $210,000 LERA
• 2021-02-02 Sold (Public Records) — Public Records
• 2019-03-15 Sold (Public Records) — Public Records
• 2001-02-23 Sold (Public Records) — Public Records

Property tax history

+6.3%/yr

Latest (2025): $3,297 · +16.1% YoY. Source: county tax records.