144 S Ben Denton · Kerrville, TX 78028

$109,900

2 bd · 2.0 ba · 896 sqft · Manufactured public records · 20 Days on market

Built 2013 1.91 ac lot $123/sqft · 43% above area Est $110k · at est.

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Why this score? — see what drove the B- 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 +30.0/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.4/10.0
• Schools +4.1/10.0
• Livability +4.0/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

View lot near end of cul-de-sac in established neighborhood. 1.91 acre pie-shaped with many trees. Mobile home would be allowed and you'd be only 15 minutes from Kerrville. Listing agent has estimates for grading, utilities and septic.

Key facts

• Turnkey rental
• Move-in-ready space
• Functional layout

Tags

• CLEAN INVITING INTERIOR
• FUNCTIONAL LAYOUT
• COMFORTABLE LIVING SPACES
• TURNKEY RENTAL
• MOVE-IN-READY SPACE
• PEACEFUL SURROUNDING AREA

Property features AI

Finance

• HOA & community: FOUR SEASONS MHP community

Exterior

• Utilities: Other water/sewer information available
• Home design: Pre-owned; Approximate age: 13 years
• Construction: Vinyl exterior; Other roof type (see remarks)
• Exterior features: Located in the FOUR SEASONS MHP subdivision

Interior

• Kitchen: Kitchen about 14 x 15
• Bedrooms: Master bedroom about 12 x 12; Second bedroom about 10 x 10
• Flooring: Vinyl flooring
• Bathrooms: Two full bathrooms; Master bath with tub/shower combination (about 8 x 9)
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Two living areas; All window coverings remain
• Laundry & utility: Washer connection; Dryer connection

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $110k.

Deal economics

• At list price, monthly cash flow is $422 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $108k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.9% vs local median 2.1% in Kerrville — 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 81/100 on livability (#25 in TX, #1,483 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, commute F.
• Kerrville ISD (town): math 45% / reading 51% proficiency, ranked #220 of 826 in TX (top 27%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Nimitz El (math 44% / reading 44%, grade F, #1,243 of 4,322 statewide, top 29%, 554 students, 71% FRL); Tivy H S (math 42% / reading 60%, grade D+, #482 of 1,632 statewide, top 30%, 1,468 students, 47% FRL) — zoned schools average 59% FRL vs 41% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.0%/yr); 753 active listings in the ZIP; 422 units permitted in Kerr County in 2024 (322 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $760 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Kerr County population projected at +15% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 15y ago 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.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 43% 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 $108,251 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
3. 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.
4. 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.
5. 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: 1.24% ✓
• Cap rate: 10.90%
• Cash-on-cash: 16.47%
• DSCR: 1.73
• GRM: 6.7

CMA / ARV

• ARV (median comp): $109,900
• List price: $109,900
• Delta: —
• Verdict: FAIR
• Comps: 1 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.03% rent growth · sell at horizon

5-year hold

• IRR: 7.5%
• Equity multiple: 1.30×
• Total profit: $9,083
• Equity at exit: $16,386

10-year hold

• IRR: 16.8%
• Equity multiple: 2.38×
• Total profit: $42,536
• Equity at exit: $9,502

Cash invested: $30,772 (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 78028

• Rents YoY: 3.0%
• Active inventory: 753
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,367 medium
• Mortgage (P&I): −$576
• Tax from tax record: −$36 /mo · $429/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$287
• Net cashflow: $422

Break-even live

Break-even rent $833

Max offer price $109,900

Occupancy floor 64%

Sensitivity live

Price	-10% $484	-5% $453	+0% $422	+5% $391	+10% $360
Rent	-10% $314	-5% $368	+0% $422	+5% $476	+10% $530
Rate	-1.0pp $478	-0.5pp $450	base $422	+0.5pp $394	+1.0pp $365

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-05-18
   status Pending 478-char remark
2. 2026-04-28
   listed $109,900 New 478-char remark
3. 2012-10-10
   soldstatus 235-char remark

   Show marketing remark (235 chars)

   View lot near end of cul-de-sac in established neighborhood. 1.91 acre pie-shaped with many trees. Mobile home would be allowed and you'd be only 15 minutes from Kerrville. Listing agent has estimates for grading, utilities and septic.

4. 2011-04-08
   listed $9,500 235-char remark

   Show marketing remark (235 chars)

   View lot near end of cul-de-sac in established neighborhood. 1.91 acre pie-shaped with many trees. Mobile home would be allowed and you'd be only 15 minutes from Kerrville. Listing agent has estimates for grading, utilities and septic.

ⓘ 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: $429 · $36/mo
• Projected year-2 tax: $2,011 · $168/mo
• Expected delta: +$1,582/yr (+$132/mo · 368.7%)

ⓘ 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 ≥102°F today · 21 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 43% 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: $16,407
• − Mortgage interest: −$6,156
• − Property taxes: −$429
• − Insurance: −$550
• − Repairs & maintenance: −$1,313
• − Management: −$1,313
• − Depreciation: −$3,197
• Taxable income: $3,450
• Est. tax owed @ 24.0%: −$828
• After-tax cash flow: $4,239/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: Kerrville ISD
• NCES district ID: 4825590
• Math proficiency: 45% ▼ -10.00%
• Reading proficiency: 51% ▼ -1.00%
• Median HH income: $44,050
• Composite: 40.54/100
• National rank: #3702
• State rank: #220 of 826 in TX

Livability — Kerrville

• Score: 81/100
• State rank: #25
• US rank: #1483

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Kerr County · 41,206 people
• City population: 41,206
• Metro: Kerrville, TX
• Population (ZIP): 41,206
• Household income: $66,991
• Rent vs Own: 32.9% rent · 67.1% own
• Severe rent burden: 1092.0

Population outlook (Kerr County) Hauer SSP2

• Today (2025): 54,010 people
• By 2030: 55,651 · +3.0%
• By 2040: 58,923 · +9.1%
• By 2050: 62,117 · +15.0%
• By 2075: 71,809 · +33.0%
• By 2100: 77,004 · +42.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (69%)
• Race & ethnicity: White 69% Hispanic / Latino 26% Two or more races 12% Black 2%
• Hispanic origin (detail): Mexican 22%
• Common ancestry: Lithuanian 3% Slovak 3% Portuguese 2%
• Foreign-born: 6% · Canada
• Languages at home: 89% English-only · Spanish 10%

Political lean MEDSL · Kerr

• 2024 margin: Solid R (+54.3) · D 22.4% · R 76.8%
• 2008→2024 swing: -4.8pp toward R · 2008: -49.6pp · 2024: -54.3pp
• All cycles: 2024: R+54.3 2020: R+51.7 2016: R+56.3 2012: R+59.1 2008: R+49.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -260.97%
• Current HPI: 213.3663
• Rent YoY: ▲ 3.03%
• Metro: Kerrville, TX
• 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

+1056.8% since first listed

5 events — show timeline

• 2026-06-10 Sold (MLS) — LERA
• 2026-05-18 Pending — LERA
• 2026-04-28 Listed $109,900 LERA
• 2012-10-10 Sold (MLS) — KVMLS
• 2011-04-08 Listed $9,500 KVMLS

Property tax history

-20.9%/yr

Latest (2021): $429 · -52.0% YoY. Source: county tax records.