6605 Oak Ridge Ln

Flower Mound, TX 76226

$284,997C+

6 bd · 4.0 ba · 1,312 sqft · Built 1985 · Manufactured · Active · 21 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,107/mo
• Mortgage (P&I): −$1,495
• Tax + insurance: −$233
• HOA: −$0
• Vac / Maint / Mgmt: −$652
• Net cashflow: $727/mo
• Annual: $8,725/yr
• Cap rate: 9.35%
• Cash-on-cash: 10.93%
• DSCR: 1.49
• 1% rule: 1.09%
• Cash to close: $79,799

Investor read

• This is a 6-bed/4.0-bath manufactured listed at $285k.
• At list price, monthly cash flow is $727 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $285k).
• It's been on market 21 days — a 2% lower offer ($281k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $281k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Location reads 71/100 on livability (#317 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living F.
• Argyle ISD (rural): math 71% / reading 67% proficiency, ranked #8 of 826 in TX (top 1%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 13% free/reduced lunch — higher-income household profile.
• Zoned schools: Argyle South El (840 students, 11% FRL) — zoned schools at 11% FRL track the district average.
• Market conditions: Rents rising (+1.6%/yr); 1110 active listings in the ZIP; high-income renter base; 10,531 units permitted in Denton County in 2024 (2,713 in 5+ unit buildings).
• Denton County population projected at +66% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 7 sale attempts since 2y 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.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 9.4% vs local median 2.5% in Flower Mound — 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.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.