410 S Laredo St

Cienegas Terrace, TX 78840

$159,000C-

4 bd · 1.0 ba · 1,768 sqft · Built 2017 · Manufactured · Pending · 17 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,599/mo
• Mortgage (P&I): −$834
• Tax + insurance: −$179
• HOA: −$0
• Vac / Maint / Mgmt: −$336
• Net cashflow: $251/mo
• Annual: $3,012/yr
• Cap rate: 8.19%
• Cash-on-cash: 6.77%
• DSCR: 1.30
• 1% rule: 1.01%
• Cash to close: $44,520

Investor read

• This is a 4-bed/1.0-bath manufactured listed at $159k.
• At list price, monthly cash flow is $251 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $159k).
• It's been on market 17 days — a 2% lower offer ($157k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $157k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 60/100 on livability (#1,065 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: health & safety C-, amenities F, commute F.
• San Felipe-Del Rio CISD (town): math 25% / reading 32% proficiency, ranked #667 of 826 in TX (top 81%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Garfield El (math 26% / reading 24%, grade F, #3,013 of 4,322 statewide, top 70%, 576 students, 90% FRL) — zoned schools average 90% FRL vs 70% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.6%/yr); 549 active listings in the ZIP; 85 units permitted in Val Verde County in 2024 (0 in 5+ unit buildings).
• Val Verde County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 3 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.
• Climate carrying-cost: 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

• 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?
• 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.