304 Manuel Dr Unit A-D · College Station, TX 77840

$435,000

24 bd · 16.0 ba · 3,026 sqft · MultiFamily · 10 Days on market

Built 1981 Fair condition 10,746 sqft lot $144/sqft · at area comps Est $445k · at est.

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Why this score? — see what drove the C+ 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 +23.1/30.0
• ARV discount +8.5/15.0
• DSCR +7.4/10.0
• 1% rule +6.0/10.0
• Schools +4.7/10.0
• Livability +4.2/5.0
• Rent growth +4.1/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks

Prime College Station Investment Opportunity Near Wolf Pen Creek! > Welcome to 304 Manuel Drive, an exceptional fourplex perfectly positioned in the heart of College Station. This property offers an optimal, easy-to-rent unit mix consisting of two spacious 2-bedroom/1-bathroom units and two comfortable 1-bedroom/1-bathroom units. Property Highlights: Outdoor Living: The highly desirable downstairs units feature private, fenced small yards and outdoor decks, providing premium outdoor space for tenants. Interior Features: Designed for durability and modern appeal, units feature easy-to-maintain vinyl wood flooring throughout the main living spaces. Functional Layouts: Each unit includes a

Key facts

• Vinyl wood flooring
• Outdoor decks
• 0.25 acre lot

Tags

• PRIVATE FENCED SMALL YARDS
• OUTDOOR DECKS
• VINYL WOOD FLOORING
• DEDICATED LAUNDRY ROOM
• GRANITE AND TILE COUNTERTOPS

Property features AI

Finance

• Financial info: Current rents listed by unit type: two 2‑bed/1‑bath units at $925 and $875; two 1‑bed/1‑bath units at $845 and $825

Exterior

• Parking: Paved parking with 8 total spaces
• Utilities: Electric water heater
• Home design: Residential income property; Quadruplex
• Construction: Brick, wood siding and other construction materials
• Exterior features: Privacy wood fencing

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: Two 2-bedroom units; Two 1-bedroom units
• Flooring: Vinyl; Other
• Bathrooms: Four 1-bath units
• Heating & cooling: Central heating; Electric heating
• Interior features: Unfurnished; Privacy wood fencing; Composition roof
• Laundry & utility: Washer; Dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 2×2bd/1ba + 2×1bd/1ba units multifamily listed at $435k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $776 ($9k/yr) — positive. Per door: $194/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $435k).
• Cap rate 8.4% vs local median 3.3% in College Station — 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 83/100 on livability (#11 in TX, #994 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, crime A-; Watch: employment C-.
• College Station ISD (urban): math 58% / reading 54% proficiency, ranked #113 of 826 in TX (top 14%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+6.2%/yr); 305 active listings in the ZIP; lower-income renter base — watch delinquency; 2,211 units permitted in Brazos County in 2024 (768 in 5+ unit buildings).
• At $4,788/mo this rent would consume 189% of the median local household income ($30k/yr) (locally 8224% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.
• Brazos County population projected at +55% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 6.2% rent growth), your $122k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $435,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.10% ✓
• Cap rate: 8.43%
• Cash-on-cash: 7.65%
• DSCR: 1.34
• GRM: 7.6

CMA / ARV

• ARV (median comp): $445,000
• List price: $435,000
• Delta: -2.25%
• Verdict: FAIR
• Comps: 3 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 6.24% rent growth · sell at horizon

5-year hold

• IRR: -1.0%
• Equity multiple: 0.96×
• Total profit: $-4,856
• Equity at exit: $64,860

10-year hold

• IRR: 11.8%
• Equity multiple: 2.07×
• Total profit: $130,418
• Equity at exit: $37,611

Cash invested: $121,800 (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 77840

• Rents YoY: 6.2%
• Active inventory: 305
• Price-to-rent: 28.4×

Monthly cashflow live

• Estimated rent: $4,788 high
• Mortgage (P&I): −$2,281
• Tax est. 1.5%: −$544 /mo · $6,525/yr
• Insurance: −$181
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,005
• Net cashflow: $776

Break-even live

Break-even rent $3,805

Max offer price $435,000

Occupancy floor 79%

Sensitivity live

Price	-10% $1,077	-5% $927	+0% $776	+5% $626	+10% $476
Rent	-10% $398	-5% $587	+0% $776	+5% $965	+10% $1,155
Rate	-1.0pp $995	-0.5pp $887	base $776	+0.5pp $664	+1.0pp $549

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,554
▸ 2× units	1	1	$2,234
Total (4 units)			$4,788

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: $108,750
• Closing costs: $13,050
• Reserves months: —
• Total cash needed: —

Listing history 1 events

1. 2026-05-12
   listed $435,000 Active 1470-char remark

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥110°F today · 24 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $57,456
• − Mortgage interest: −$24,367
• − Property taxes: −$6,525
• − Insurance: −$2,175
• − Repairs & maintenance: −$4,596
• − Management: −$4,596
• − Depreciation: −$12,655
• Taxable income: $2,542
• Est. tax owed @ 24.0%: −$610
• After-tax cash flow: $8,706/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This fourplex needs moderate repairs and maintenance to improve its condition and value. Painting the exterior and replacing the wooden deck and fence would significantly enhance its curb appeal and rental value.

Repairs flagged

• Minor Wooden deck — Slight wear and tear
• Minor Wooden fence — Slight wear and tear

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and value
• Both Replace wooden deck — Improves outdoor living space and value
• Both Replace wooden fence — Improves privacy and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Wooden deck · Slight wear and tear	Minor	$500–3,000
Wooden fence · Slight wear and tear	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and value ↑
• Both Replace wooden deck — Improves outdoor living space and value ↑
• Both Replace wooden fence — Improves privacy and value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: College Station ISD
• NCES district ID: 4807350
• Math proficiency: 58% ▼ -4.00%
• Reading proficiency: 54% ▼ -2.00%
• Median HH income: $36,991
• Composite: 46.54/100
• National rank: #2428
• State rank: #113 of 826 in TX

Livability — College Station

• Score: 83/100
• State rank: #11
• US rank: #994

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: College Station, TX
• County: Brazos County · 233,400 people
• City population: 131,628
• Metro: College Station-Bryan, TX
• Population (ZIP): 54,864
• Household income: $30,377
• Rent vs Own: 89.7% rent · 10.3% own
• Severe rent burden: 8224.0

Population outlook (Brazos County) Hauer SSP2

• Today (2025): 267,942 people
• By 2030: 296,630 · +10.7%
• By 2040: 354,560 · +32.3%
• By 2050: 414,616 · +54.7%
• By 2075: 562,158 · +109.8%
• By 2100: 678,828 · +153.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: White 55% Hispanic / Latino 20% Two or more races 11% Black 11% Asian 9%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Romanian 2% Lithuanian 2% Italian 2%
• Foreign-born: 14% · Canada, China, South Korea
• Languages at home: 77% English-only · Spanish 12% Other Indo-European 3% Chinese 2%

Political lean MEDSL · Brazos

• 2024 margin: Strong R (+24.9) · D 36.9% · R 61.7% · Other 1.4%
• 2008→2024 swing: +4.1pp toward D · 2008: -28.9pp · 2024: -24.9pp
• All cycles: 2024: R+24.9 2020: R+14.3 2016: R+23.7 2012: R+35.3 2008: R+28.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -155.15%
• Current HPI: 195.2885
• Rent YoY: ▲ 6.24%
• Metro: College Station-Bryan, 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

5 events — show timeline

• 2026-06-17 Delisted — BCSRMLS
• 2026-06-16 Sold (MLS) — BCSRMLS
• 2026-05-22 Pending — BCSRMLS
• 2026-05-20 Contingent — BCSRMLS
• 2026-05-12 Listed $435,000 BCSRMLS