3270 E Fm 840 · Henderson, TX 75654

$189,900

3 bd · 2.0 ba · 1,260 sqft · Manufactured public records · 16 Days on market

Built 2021 3.00 ac lot

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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).

• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Cash flow +6.7/30.0
• Livability +3.5/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.6/10.0
• DSCR +1.0/10.0

Listing remarks MLS

Full of personality and space, this adorable 2021 home is a refreshing departure from cookie-cutter living. Sitting on 3 peaceful acres just 10 minutes from Henderson, this 3-bedroom, 2-bath home offers 1,260 square feet of open-concept living space. Inside, you'll find vibrant color-drenched rooms, custom finishes, wallpaper accents, and charming details that make every space feel warm and welcoming. The open living, dining, and kitchen areas create a bright and comfortable gathering place, while the split-bedroom design offers privacy and functionality. Move-in ready convenience continues with a new AC unit (less than a year old!) and the refrigerator, washer, and dryer conveying to the new owner. Outside, enjoy the best of country living with covered front and back decks, two spacious carports, a large 25x25 storage building with concrete floors and electricity, and an RV hookup complete with water and 30-amp service. If you're dreaming of a home that reflects creativity, comfort, and country living, this East Texas gem deserves a spot at the top of your list. Schedule your showing today!

Key facts

• New ac unit
• Split bedroom design
• 3 acre lot

Tags

• OPEN CONCEPT LIVING SPACE
• SPLIT BEDROOM DESIGN
• NEW AC UNIT
• COVERED FRONT AND BACK DECKS
• TWO SPACIOUS CARPORTS
• LARGE STORAGE BUILDING

Property features AI

Exterior

• Parking: Detached garage; 4 garage spaces; Gravel parking
• Security: Smoke detector(s)
• Utilities: Electric water heater
• Home design: Manufactured home; Residential property
• Construction: Composition roof
• Exterior features: Wood fencing; Level lot; Storage; Workshop

Interior

• Kitchen: Dishwasher; Breakfast bar; Pantry
• Bedrooms: Total of 7 rooms (bedroom count not specified)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air; Ceiling fan(s)
• Interior features: Breakfast bar; Pantry; Dishwasher; Electric water heater; Ceiling fan(s); Central air; Central heating; Electric heating; Smoke detector(s)
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $190k.

Deal economics

• At list price, monthly cash flow is $-300 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $137k (27.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $124k (34.5% below list).
• Recommended offer: $124k (34.5% below list) — sets the bar for 1% rule.
• Cap rate 4.4% vs local median 2.9% in Henderson — 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 (#408 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, schools D-, crime F.
• Henderson ISD (town): math 30% / reading 35% proficiency, ranked #573 of 826 in TX (top 69%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 177 active listings in the ZIP; 4 units permitted in Rusk County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $20k of equity ($1k loan paydown + $19k appreciation (10.0% local appreciation)).
• Rusk County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• By year 2, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($187k) is reasonable based on typical stale-listing flexibility.
• 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.

Recommended offer $124,427 (34.5% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 0.66% ✗
• Cap rate: 4.40%
• Cash-on-cash: -6.77%
• DSCR: 0.70
• GRM: 12.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 19.5%
• Equity multiple: 2.59×
• Total profit: $84,319
• Equity at exit: $171,077

10-year hold

• IRR: 17.9%
• Equity multiple: 5.95×
• Total profit: $263,332
• Equity at exit: $368,934

Cash invested: $53,172 (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 75654

• Home prices YoY: 7.8%
• Active inventory: 177
• Price-to-rent: 12.7×

Monthly cashflow live

• Estimated rent: $1,244 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$208 /mo · $2,496/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$261
• Net cashflow: $-300

Break-even live

Break-even rent $1,624

Max offer price $136,907

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-19
   days on market $189,900 Active 16 DOM
2. 2026-06-18
   days on market $189,900 Active 15 DOM
3. 2026-06-17
   days on market $189,900 Active 14 DOM
4. 2026-06-16
   days on market $189,900 Active 13 DOM
5. 2026-06-15
   days on market $189,900 Active 12 DOM
6. 2026-06-14
   days on market $189,900 Active 10 DOM
7. 2026-06-13
   days on market $189,900 Active 9 DOM
8. 2026-06-10
   days on market $189,900 Active 7 DOM
9. 2026-06-09
   days on market $189,900 Active 6 DOM
10. 2026-06-08
    days on market $189,900 Active 5 DOM
11. 2026-06-07
    remarks 699-char remark
12. 2026-06-07
    listed $189,900 Active 4 DOM

ⓘ 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: $2,496 · $208/mo
• Projected year-2 tax: $3,475 · $290/mo
• Expected delta: +$979/yr (+$82/mo · 39.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $14,931
• − Mortgage interest: −$10,637
• − Property taxes: −$2,496
• − Insurance: −$950
• − Repairs & maintenance: −$1,194
• − Management: −$1,194
• − Depreciation: −$5,524
• Taxable loss: −$7,065
• Est. tax savings @ 24.0%: +$1,696
• After-tax cash flow: $-1,904/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: Henderson ISD
• NCES district ID: 4822970
• Math proficiency: 30% ▼ -23.00%
• Reading proficiency: 35% ▼ -13.00%
• Median HH income: $46,296
• Composite: 27.91/100
• National rank: #6868
• State rank: #573 of 826 in TX

Livability — Henderson

• Score: 69/100
• State rank: #408
• US rank: #8434

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 12,184

Population outlook (Rusk County) Hauer SSP2

• Today (2025): 52,498 people
• By 2030: 52,093 · -0.8%
• By 2040: 50,866 · -3.1%
• By 2050: 49,696 · -5.3%
• By 2075: 48,583 · -7.5%
• By 2100: 43,265 · -17.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 24% Two or more races 16% Black 7%
• Hispanic origin (detail): Mexican 20%
• Common ancestry: Lithuanian 1% Italian 1% Slovak 1%
• Foreign-born: 11% · Canada
• Languages at home: 81% English-only · Spanish 18%

Political lean MEDSL · Rusk

• 2024 margin: Solid R (+59.4) · D 20.0% · R 79.4%
• 2008→2024 swing: -13.2pp toward R · 2008: -46.3pp · 2024: -59.4pp
• All cycles: 2024: R+59.4 2020: R+55.7 2016: R+56.5 2012: R+51.1 2008: R+46.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 28.83%
• Current HPI: 397.5
• 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

+0.0% since first listed

3 events — show timeline

• 2026-06-03 Listed $189,900 GTAR
• 2026-06-03 Listed $189,900 LAAR
• 2024-09-23 Sold (Public Records) — Public Records

Property tax history

+58.4%/yr

Latest (2025): $2,496 · +274.0% YoY. Source: county tax records.