137 Stewart St · New Fairview, TX 76078

$115,000

4 bd · 2.0 ba · 1,860 sqft · Manufactured · 5 Days on market

Built 2018 1.08 ac lot ↓ 32% since listing

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Why this score? — see what drove the A- 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.6/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

PRIVACY GALORE!!!!!! This custom Fleetwood Home installed and completed out by Discover Modular Homes. .. This open concept home offers a split bedroom format with separate large living areas. .. The perfect home for one whom wants size and privacy. .. This home boasts a very large rear deck for all those summertime family and BBQ events. .. Privacy-you have it here as this home looks over many acres of open Texas lands. .. This home needs to be on your short list. .. BRAND NEW HOME. .. BRAND NEW HOME. .. .Gotta see!!!!!

Key facts

• Primary bath
• Double sinks
• Plentiful storage

Tags

• 1.08 ACRE LOT
• ISLAND KITCHEN
• PLENTIFUL STORAGE
• SPLIT BEDROOMS
• PRIMARY BATH
• DOUBLE SINKS

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $115k.

Deal economics

• At list price, monthly cash flow is $927 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Cap rate 16.0% vs local median 2.5% in New Fairview — 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 62/100 on livability (#901 in TX) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Northwest ISD (rural): math 48% / reading 52% proficiency, ranked #120 of 826 in TX (top 14%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 262 active listings in the ZIP; solid renter incomes; 460 units permitted in Wise County in 2024 (243 in 5+ unit buildings).

Forward outlook

• In year one you build about $12k of equity ($795 loan paydown + $12k appreciation (10.0% local appreciation)).
• Wise County population projected at +27% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 8y 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, 27% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $115,000

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 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?
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: 1.89% ✓
• Cap rate: 15.96%
• Cash-on-cash: 34.54%
• DSCR: 2.54
• GRM: 4.4

CMA / ARV

• ARV (on-the-fly): $254,820
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
461 Lange Way	0.22mi	3/2.0 (-1)	1,856 (-0%)	3mo	$275,000	$148	82
336 Wilson Ct	0.37mi	3/2.0 (-1)	1,920 (+3%)	6mo	$262,500	$137	67
120 Creasser Ln	0.15mi	5/3.0 (+1)	2,052 (+10%)	10mo	$270,000	$132	58
153 Aydelotte Ct	0.42mi	4/2.0	1,664 (-10%)	14mo	$285,000	$171	51
185 Lange Way	0.17mi	5/3.0 (+1)	2,128 (+14%)	18mo	$274,900	$129	44

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 50.7%
• Equity multiple: 4.78×
• Total profit: $121,688
• Equity at exit: $103,601

10-year hold

• IRR: 44.4%
• Equity multiple: 10.69×
• Total profit: $312,001
• Equity at exit: $223,420

Cash invested: $32,200 (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 76078

• Home prices YoY: 6.5%
• Active inventory: 262
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $2,179 medium
• Mortgage (P&I): −$603
• Tax est. 1.5%: −$144 /mo · $1,725/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$458
• Net cashflow: $927

Break-even live

Break-even rent $1,006

Max offer price $115,000

Occupancy floor 52%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-02-12
   status Pending
2. 2026-02-05
   listed $115,000 Active
3. 2018-08-27
   soldstatus Sold 526-char remark

   Show marketing remark (526 chars)

   PRIVACY GALORE!!!!!! This custom Fleetwood Home installed and completed out by Discover Modular Homes. .. This open concept home offers a split bedroom format with separate large living areas. .. The perfect home for one whom wants size and privacy. .. This home boasts a very large rear deck for all those summertime family and BBQ events. .. Privacy-you have it here as this home looks over many acres of open Texas lands. .. This home needs to be on your short list. .. BRAND NEW HOME. .. BRAND NEW HOME. .. .Gotta see!!!!!

4. 2018-07-06
   status Pending 526-char remark

   Show marketing remark (526 chars)

   PRIVACY GALORE!!!!!! This custom Fleetwood Home installed and completed out by Discover Modular Homes. .. This open concept home offers a split bedroom format with separate large living areas. .. The perfect home for one whom wants size and privacy. .. This home boasts a very large rear deck for all those summertime family and BBQ events. .. Privacy-you have it here as this home looks over many acres of open Texas lands. .. This home needs to be on your short list. .. BRAND NEW HOME. .. BRAND NEW HOME. .. .Gotta see!!!!!

5. 2018-04-03
   listed $169,900 Active 526-char remark

   Show marketing remark (526 chars)

   PRIVACY GALORE!!!!!! This custom Fleetwood Home installed and completed out by Discover Modular Homes. .. This open concept home offers a split bedroom format with separate large living areas. .. The perfect home for one whom wants size and privacy. .. This home boasts a very large rear deck for all those summertime family and BBQ events. .. Privacy-you have it here as this home looks over many acres of open Texas lands. .. This home needs to be on your short list. .. BRAND NEW HOME. .. BRAND NEW HOME. .. .Gotta see!!!!!

ⓘ 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 7/10 Severe
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 22 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,149
• − Mortgage interest: −$6,442
• − Property taxes: −$1,725
• − Insurance: −$575
• − Repairs & maintenance: −$2,092
• − Management: −$2,092
• − Depreciation: −$3,345
• Taxable income: $9,878
• Est. tax owed @ 24.0%: −$2,371
• After-tax cash flow: $8,750/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: Northwest ISD
• NCES district ID: 4833180
• Math proficiency: 48% ▼ -15.00%
• Reading proficiency: 52% ▼ -8.00%
• Median HH income: $85,315
• Composite: 46.15/100
• National rank: #2504
• State rank: #120 of 826 in TX

Livability — New Fairview

• Score: 62/100
• State rank: #901
• US rank: #16172

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Fairview, TX
• County: Wise County · 49,037 people
• City population: 10,200
• Metro: Dallas-Fort Worth-Arlington, TX
• Population (ZIP): 10,828
• Household income: $99,866
• Rent vs Own: 16.4% rent · 83.6% own
• Severe rent burden: 10.0

Population outlook (Wise County) Hauer SSP2

• Today (2025): 71,620 people
• By 2030: 75,858 · +5.9%
• By 2040: 83,908 · +17.2%
• By 2050: 90,717 · +26.7%
• By 2075: 107,583 · +50.2%
• By 2100: 114,996 · +60.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (69%)
• Race & ethnicity: White 69% Hispanic / Latino 24% Two or more races 11% Native American 4% Black 2%
• Hispanic origin (detail): Mexican 20% Puerto Rican 3%
• Common ancestry: Slovak 2% Lithuanian 2% Italian 1%
• Foreign-born: 6% · Canada
• Languages at home: 85% English-only · Spanish 14% German/W. Germanic 1%

Political lean MEDSL · Wise

• 2024 margin: Solid R (+70.0) · D 14.7% · R 84.7%
• 2008→2024 swing: -14.3pp toward R · 2008: -55.7pp · 2024: -70.0pp
• All cycles: 2024: R+70.0 2020: R+68.2 2016: R+69.9 2012: R+67.5 2008: R+55.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 19.94%
• Current HPI: 325.22
• Rent YoY: —
• Metro: Dallas-Fort Worth-Arlington, 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

-32.3% since first listed

5 events — show timeline

• 2026-02-12 Pending — NTREIS
• 2026-02-05 Listed $115,000 NTREIS
• 2018-08-27 Sold (MLS) — NTREIS
• 2018-07-06 Pending — NTREIS
• 2018-04-03 Listed $169,900 NTREIS

Property tax history

-8.7%/yr

Latest (2025): $102 · -97.0% YoY. Source: county tax records.