The Levi Plan · Pearland, TX 77581

$117,900

3 bd · 2.0 ba · 1,153 sqft · Manufactured · 391 Days on market

Poor condition

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Rent growth +3.2/5.0
• Schools +1.9/10.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Showstopper Manufactured Home in Gated Community! This stunning manufactured home is move-in ready and packed with features! Highlights: Stainless steel appliances add a modern touch to the kitchen. Separate utility room provides extra storage and functionality. Kitchen island with ample cabinet space makes meal prep and entertaining a breeze. Abundant natural light creates a bright and inviting atmosphere. Energy-efficient features like Thermo-pane windows help keep utility bills low. Large soaker tub in the bathroom provides a relaxing spa-like experience. Central air conditioning keeps you cool and comfortable year-round. Storage shed offers additional space for your belongings. Located in a beautiful gated community, this home offers residents access to: Sparkling pool Inviting clubhouse Modern fitness center Dog park for your furry companions Spacious soccer field And much more! Limited-time specials are available! Don't miss out on this incredible opportunity! Come and see us today! Land Leased not owned

Key facts

• Large soaker tub
• Kitchen island
• Listed 391 days

Tags

• STAINLESS STEEL APPLIANCES
• SEPARATE UTILITY ROOM
• KITCHEN ISLAND
• ENERGY-EFFICIENT FEATURES
• LARGE SOAKER TUB
• CENTRAL AIR CONDITIONING

🏗️ New construction. Builder plan / spec listing (the home may be to-be-built); metrics use comparable previous sales.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $118k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $667 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $118k).
• Recommended offer: $104k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.1% vs local median 3.0% in Pearland — 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 (#32 in TX, #1,539 nationally) — a professional / high-income tenant draw. Strengths: schools A+, employment A+, housing A+; Watch: amenities D-, commute F.
• East Central ISD (rural): math 16% / reading 25% proficiency, ranked #758 of 826 in TX (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+2.9%/yr); 316 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 8,308 units permitted in Bexar County in 2024 (2,506 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $815 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Bexar County population projected at +50% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 2.9% rent growth), your $33k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 391 days — a 12% lower offer ($104k) is reasonable based on typical stale-listing flexibility.

Recommended offer $103,752 (12.0% below list)

Questions for the listing agent

1. It's been on market 391 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-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 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: 1.59% ✓
• Cap rate: 13.08%
• Cash-on-cash: 24.26%
• DSCR: 2.08
• GRM: 5.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.94% rent growth · sell at horizon

5-year hold

• IRR: 17.5%
• Equity multiple: 1.71×
• Total profit: $23,310
• Equity at exit: $17,579

10-year hold

• IRR: 25.9%
• Equity multiple: 3.26×
• Total profit: $74,674
• Equity at exit: $10,194

Cash invested: $33,012 (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 77581

• Home prices YoY: -29.1%
• Rents YoY: 2.9%
• Active inventory: 316
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $1,876 high
• Mortgage (P&I): −$618
• Tax est. 1.5%: −$147 /mo · $1,768/yr
• Insurance: −$49
• HOA: −$0
• Vacancy / Maint / Mgmt: −$394
• Net cashflow: $667

Break-even live

Break-even rent $1,031

Max offer price $117,900

Occupancy floor 59%

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: $29,475
• Closing costs: $3,537
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10534 Green Rock Dr San Antonio, TX	3.0	2.5	1311	$1,700	$1.30	43d	1	0.28mi
10454 Clearwater Way San Antonio, TX	3.0	2.5	1239	$1,425	$1.15	11d	1	0.51mi
10447 Clearwater Way San Antonio, TX	3.0	2.5	1420	$1,500	$1.06	43d	1	0.53mi
10822 Green Brook St San Antonio, TX	3.0	2.0	1023	$1,500	$1.47	43d	1	0.55mi
11026 Tree Line San Antonio, TX	3.0	2.5	1360	$1,299	$0.96	43d	1	0.78mi
5727 Coopers Xing San Antonio, TX	3.0	2.0	1127	$2,400	$2.13	22d	1	1.18mi

Listing history 14 events

1. 2026-06-18
   days on market $117,900 Active 391 DOM
2. 2026-06-17
   days on market $117,900 Active 390 DOM
3. 2026-06-16
   days on market $117,900 Active 389 DOM
4. 2026-06-15
   days on market $117,900 Active 388 DOM
5. 2026-06-13
   days on market $117,900 Active 386 DOM
6. 2026-06-09
   days on market $117,900 Active 382 DOM
7. 2026-06-08
   days on market $117,900 Active 381 DOM
8. 2026-06-07
   days on market $117,900 Active 380 DOM
9. 2026-06-04
   days on market $117,900 Active 377 DOM
10. 2026-06-03
    days on market $117,900 Active 376 DOM
11. 2026-06-02
    days on market $117,900 Active 375 DOM
12. 2026-06-01
    days on market $117,900 Active 374 DOM
13. 2026-05-31
    days on market $117,900 Active 373 DOM
14. 2025-05-23
    listed $117,900 Active 1028-char remark

    Show marketing remark (1028 chars)

    Showstopper Manufactured Home in Gated Community! This stunning manufactured home is move-in ready and packed with features! Highlights: Stainless steel appliances add a modern touch to the kitchen. Separate utility room provides extra storage and functionality. Kitchen island with ample cabinet space makes meal prep and entertaining a breeze. Abundant natural light creates a bright and inviting atmosphere. Energy-efficient features like Thermo-pane windows help keep utility bills low. Large soaker tub in the bathroom provides a relaxing spa-like experience. Central air conditioning keeps you cool and comfortable year-round. Storage shed offers additional space for your belongings. Located in a beautiful gated community, this home offers residents access to: Sparkling pool Inviting clubhouse Modern fitness center Dog park for your furry companions Spacious soccer field And much more! Limited-time specials are available! Don't miss out on this incredible opportunity! Come and see us today! Land Leased not owned

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

Taxation est. · year 1

• Rental income: $22,512
• − Mortgage interest: −$6,604
• − Property taxes: −$1,768
• − Insurance: −$590
• − Repairs & maintenance: −$1,801
• − Management: −$1,801
• − Depreciation: −$3,430
• Taxable income: $6,518
• Est. tax owed @ 24.0%: −$1,564
• After-tax cash flow: $6,443/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 · 1 photo

Poor 20/100 Extensive rehab

This manufactured home requires extensive repairs and updates to bring it up to a livable condition. Significant investments in the roof, exterior, interior, and systems are necessary to make it move-in ready.

Repairs flagged

• Major roof inspection — Aging roof may need replacement or repair.
• Major exterior siding inspection — Structural integrity of siding needs assessment.
• Major foundation inspection — Foundation may need repair or reinforcement.
• Major interior wall and paint inspection — Interior walls and paint may need repainting or repairs.
• Major kitchen and bathroom inspections — Kitchen and bathroom may need updates or repairs.
• Major HVAC and mechanicals inspection — HVAC and mechanicals may need maintenance or replacement.
• Major landscaping and curb appeal — Landscaping and curb appeal may need improvement to enhance curb appeal.

Value-add opportunities

• Resale exterior siding and roof replacement — Aesthetic and structural improvements.
• Resale interior wall and paint refresh — Enhances the home's appearance and appeal.
• Resale kitchen and bathroom updates — Modernizes the living spaces and adds value.
• Rental HVAC and mechanicals upgrade — Improves comfort and energy efficiency, attracting renters.
• Both landscaping and curb appeal — Enhances the home's curb appeal and adds value for both resale and rental.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof inspection · Aging roof may need replacement or repair.	Major	$15,000–50,000
exterior siding inspection · Structural integrity of siding needs assessment.	Major	$15,000–50,000
foundation inspection · Foundation may need repair or reinforcement.	Major	$15,000–50,000
interior wall and paint inspection · Interior walls and paint may need repainting or repairs.	Major	$15,000–50,000
kitchen and bathroom inspections · Kitchen and bathroom may need updates or repairs.	Major	$15,000–50,000
HVAC and mechanicals inspection · HVAC and mechanicals may need maintenance or replacement.	Major	$15,000–50,000
landscaping and curb appeal · Landscaping and curb appeal may need improvement to enhance curb appeal.	Major	$15,000–50,000
Total estimated repair cost · 7 items		$105,000–350,000

Value-add ROI direction

• Resale exterior siding and roof replacement — Aesthetic and structural improvements. ↑
• Resale interior wall and paint refresh — Enhances the home's appearance and appeal. ↑
• Resale kitchen and bathroom updates — Modernizes the living spaces and adds value. ↑
• Rental HVAC and mechanicals upgrade — Improves comfort and energy efficiency, attracting renters. ↑
• Both landscaping and curb appeal — Enhances the home's curb appeal and adds value for both resale and rental. ↑

ⓘ 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: East Central ISD
• NCES district ID: 4817850
• Math proficiency: 16% ▼ -12.00%
• Reading proficiency: 25% ▼ -6.00%
• Median HH income: $53,941
• Composite: 18.67/100
• National rank: #8887
• State rank: #758 of 826 in TX

Livability — Pearland

• Score: 81/100
• State rank: #32
• US rank: #1539

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Brazoria County · 374,982 people
• City population: 142,397
• Metro: Houston-The Woodlands-Sugar Land, TX
• Population (ZIP): 51,332
• Household income: $111,139
• Rent vs Own: 22.9% rent · 77.1% own
• Severe rent burden: 826.0

Population outlook (Bexar County) Hauer SSP2

• Today (2025): 2,336,851 people
• By 2030: 2,560,728 · +9.6%
• By 2040: 3,020,569 · +29.3%
• By 2050: 3,493,522 · +49.5%
• By 2075: 4,668,459 · +99.8%
• By 2100: 5,533,242 · +136.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: White 47% Hispanic / Latino 33% Two or more races 20% Black 10% Asian 7%
• Hispanic origin (detail): Mexican 26% Puerto Rican 2%
• Common ancestry: Lithuanian 2% Slovak 2% Romanian 2%
• Foreign-born: 12% · Canada, Vietnam, Guatemala
• Languages at home: 77% English-only · Spanish 16% Other Indo-European 3% Vietnamese 2%

Political lean MEDSL · Bexar

• 2024 margin: Lean D (+9.8) · D 54.3% · R 44.6% · Other 1.1%
• 2008→2024 swing: +4.2pp toward D · 2008: 5.6pp · 2024: 9.8pp
• All cycles: 2024: D+9.8 2020: D+18.2 2016: D+13.5 2012: D+4.6 2008: D+5.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -100.56%
• Current HPI: 244.7942
• Rent YoY: ▲ 2.94%
• Metro: Houston-The Woodlands-Sugar Land, 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

1 event — show timeline

• 2025-05-23 Listed $117,900 Zillow