18420 Fm-92 S · Spurger, TX 77660

$49,900

3 bd · 2.0 ba · 1,064 sqft · Manufactured public records · 61 Days on market

Built 1980 1.07 ac lot $47/sqft · 46% below area ↓ 14% since listing

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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
• Appreciation +5.0/10.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Nestled in the quiet rural community of Spurger, Texas, this property offers a great opportunity for buyers seeking space and potential. Situated along FM 92, the home provides convenient access while still enjoying the privacy and natural surroundings of Tyler County, Texas. The lot is 1.079 Year built 1980

Key facts

• Convenient access
• Natural surroundings
• 1.07 acre lot

Tags

• QUIET RURAL COMMUNITY
• CONVENIENT ACCESS
• NATURAL SURROUNDINGS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $50k.

Deal economics

• At list price, monthly cash flow is $465 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $47k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Spurger ISD (rural): math 21% / reading 31% proficiency, ranked #1,054 of 1,141 in TX (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 44 active listings in the ZIP; 5 units permitted in Tyler County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($345 loan paydown + $1k appreciation (3.0% local appreciation)).
• Tyler County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 61 days — a 6% lower offer ($47k) is reasonable based on typical stale-listing flexibility.

Recommended offer $46,906 (6.0% below list)

Questions for the listing agent

1. It's been on market 61 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 2.06% ✓
• Cap rate: 17.49%
• Cash-on-cash: 39.98%
• DSCR: 2.78
• GRM: 4.1

CMA / ARV

• ARV (median comp): $180,314
• List price: $49,900
• Delta: -72.33%
• Verdict: UNDERPRICED
• Comps: 4 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 45.5%
• Equity multiple: 3.55×
• Total profit: $35,673
• Equity at exit: $22,437

10-year hold

• IRR: 45.2%
• Equity multiple: 7.12×
• Total profit: $85,473
• Equity at exit: $34,578

Cash invested: $13,972 (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 77660

• Active inventory: 44
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $1,026 medium
• Mortgage (P&I): −$262
• Tax est. 1.5%: −$62 /mo · $748/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$215
• Net cashflow: $465

Break-even live

Break-even rent $437

Max offer price $49,900

Occupancy floor 50%

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $49,900 Active 61 DOM
2. 2026-06-17
   days on market $49,900 Active 60 DOM
3. 2026-06-16
   days on market $49,900 Active 59 DOM
4. 2026-06-15
   days on market $49,900 Active 58 DOM
5. 2026-06-14
   days on market $49,900 Active 56 DOM
6. 2026-06-13
   days on market $49,900 Active 55 DOM
7. 2026-06-10
   pricedays on market $49,900 Active 53 DOM
8. 2026-06-09
   days on market $59,900 Active 52 DOM
9. 2026-06-08
   days on market $59,900 Active 51 DOM
10. 2026-06-07
    days on market $59,900 Active 50 DOM
11. 2026-06-03
    days on market $59,900 Active 46 DOM
12. 2026-06-02
    days on market $59,900 Active 45 DOM
13. 2026-06-01
    days on market $59,900 Active 44 DOM
14. 2026-05-31
    days on market $59,900 Active 43 DOM
15. 2026-05-30
    days on market $59,900 Active 42 DOM
16. 2026-05-09
    price $59,900 309-char remark

    Show marketing remark (309 chars)

    Nestled in the quiet rural community of Spurger, Texas, this property offers a great opportunity for buyers seeking space and potential. Situated along FM 92, the home provides convenient access while still enjoying the privacy and natural surroundings of Tyler County, Texas. The lot is 1.079 Year built 1980

17. 2026-04-18
    listed $69,900 Active 309-char remark

    Show marketing remark (309 chars)

    Nestled in the quiet rural community of Spurger, Texas, this property offers a great opportunity for buyers seeking space and potential. Situated along FM 92, the home provides convenient access while still enjoying the privacy and natural surroundings of Tyler County, Texas. The lot is 1.079 Year built 1980

ⓘ 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: $12,309
• − Mortgage interest: −$2,795
• − Property taxes: −$748
• − Insurance: −$250
• − Repairs & maintenance: −$985
• − Management: −$985
• − Depreciation: −$1,452
• Taxable income: $5,094
• Est. tax owed @ 24.0%: −$1,223
• After-tax cash flow: $4,363/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: Spurger ISD
• NCES district ID: 4841340
• Math proficiency: 21% ▲ 11.00%
• Reading proficiency: 31% ▼ -4.00%
• Median HH income: $49,849
• Composite: 25.85/100
• National rank: #12781
• State rank: #1054 of 1141 in TX

Livability — Spurger

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 1,141

Population outlook (Tyler County) Hauer SSP2

• Today (2025): 20,375 people
• By 2030: 20,036 · -1.7%
• By 2040: 19,150 · -6.0%
• By 2050: 18,017 · -11.6%
• By 2075: 15,300 · -24.9%
• By 2100: 11,702 · -42.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98% Two or more races 2%
• Common ancestry: Lithuanian 7%
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Tyler

• 2024 margin: Solid R (+73.5) · D 13.0% · R 86.5%
• 2008→2024 swing: -29.5pp toward R · 2008: -44.0pp · 2024: -73.5pp
• All cycles: 2024: R+73.5 2020: R+70.3 2016: R+67.2 2012: R+55.5 2008: R+44.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• 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

-14.3% since first listed

2 events — show timeline

• 2026-05-09 Price Changed $59,900 BBOR
• 2026-04-18 Listed $69,900 BBOR

Property tax history

-18.8%/yr

Latest (2022): $27 · -7.3% YoY. Source: county tax records.