902 Flamingo · Granbury, TX 76049

$89,900

2 bd · 1.0 ba · 728 sqft · Other · 16 Days on market

Built 1997 5,227 sqft lot ↓ 44% 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
• Schools +4.0/10.0
• Rent growth +3.8/5.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Looking for an affordable home, rental property, or investment opportunity? This updated single-wide mobile home offers plenty of value with recent improvements already completed. Updates include new flooring, fresh interior paint, and a beautifully remodeled tile shower, creating a clean and move-in-ready space. With no HOA restrictions, you'll enjoy added flexibility and fewer monthly expenses. Whether you're searching for a primary residence, a long-term rental, or an investment property to add to your portfolio, this property offers a great opportunity at an attractive price point. Conveniently located and ready for its next owner, this home combines affordability, functionality, and re

Key facts

• Updated mobile home
• New flooring
• No hoa restrictions

Tags

• UPDATED MOBILE HOME
• NEW FLOORING
• FRESH INTERIOR PAINT
• REMODELED TILE SHOWER
• NO HOA RESTRICTIONS
• MOVE IN READY

Property features AI

Finance

• Financial info: Treat as clear loan type; No second mortgage
• HOA & community: No association

Exterior

• Parking: Aggregate parking surface; No garage or covered/carport spaces
• Utilities: Septic system; No municipal utility district
• Home design: Single family residence; Residential property; One level
• Construction: Built in 1997; Block foundation
• Exterior features: Grassed yard; Sandy loam soil

Interior

• Kitchen: Electric range
• Bedrooms: Primary bedroom (Level 1) — approx. 11 x 13; Bedroom (Level 1) — approx. 9 x 10
• Flooring: Vinyl flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air; Ceiling fan(s)
• Interior features: Open floorplan; One living area; One dining area; 3 total rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $90k.

Deal economics

• At list price, monthly cash flow is $470 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $89k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.6% vs local median 3.8% in Granbury — 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 66/100 on livability (#628 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, crime D+, amenities F.
• Granbury ISD (town): math 46% / reading 46% proficiency, ranked #237 of 826 in TX (top 29%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Nettie Baccus El (math 39% / reading 36%, grade F, #1,744 of 4,322 statewide, top 41%, 466 students, 81% FRL) — zoned schools average 81% FRL vs 43% district-wide (38 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+5.2%/yr); 690 active listings in the ZIP; solid renter incomes; 125 units permitted in Hood County in 2024 (0 in 5+ unit buildings).
• This rent is only 16% of the median local income ($105k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Hood County population projected at +29% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 5.2% rent growth), your $25k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($89k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y 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: moderate wildfire risk; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $88,551 (1.5% below list)

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 D-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. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.54% ✓
• Cap rate: 12.57%
• Cash-on-cash: 22.42%
• DSCR: 2.00
• GRM: 5.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.2% rent growth · sell at horizon

5-year hold

• IRR: 17.7%
• Equity multiple: 1.74×
• Total profit: $18,526
• Equity at exit: $13,404

10-year hold

• IRR: 27.7%
• Equity multiple: 3.71×
• Total profit: $68,196
• Equity at exit: $7,773

Cash invested: $25,172 (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 76049

• Home prices YoY: -26.8%
• Rents YoY: 5.2%
• Active inventory: 690
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,382 medium
• Mortgage (P&I): −$471
• Tax est. 1.5%: −$112 /mo · $1,348/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$290
• Net cashflow: $470

Break-even live

Break-even rent $786

Max offer price $89,900

Occupancy floor 61%

Sensitivity live

Price	-10% $532	-5% $501	+0% $470	+5% $439	+10% $408
Rent	-10% $361	-5% $416	+0% $470	+5% $525	+10% $579
Rate	-1.0pp $515	-0.5pp $493	base $470	+0.5pp $447	+1.0pp $423

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-18
   days on market $89,900 Active 16 DOM
2. 2026-06-17
   days on market $89,900 Active 15 DOM
3. 2026-06-16
   days on market $89,900 Active 14 DOM
4. 2026-06-15
   days on market $89,900 Active 13 DOM
5. 2026-06-13
   days on market $89,900 Active 11 DOM
6. 2026-06-09
   days on market $89,900 Active 7 DOM
7. 2026-06-08
   days on market $89,900 Active 6 DOM
8. 2026-06-07
   days on market $89,900 Active 5 DOM
9. 2026-06-04
   days on market $89,900 Active 2 DOM
10. 2026-06-02
    remarks 699-char remark
11. 2026-06-02
    listed $89,900 Active 1 DOM

ⓘ 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 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥108°F today · 23 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 24% 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: $16,580
• − Mortgage interest: −$5,036
• − Property taxes: −$1,348
• − Insurance: −$450
• − Repairs & maintenance: −$1,326
• − Management: −$1,326
• − Depreciation: −$2,615
• Taxable income: $4,478
• Est. tax owed @ 24.0%: −$1,075
• After-tax cash flow: $4,568/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: Granbury ISD
• NCES district ID: 4821390
• Math proficiency: 46% ▬ 0.00%
• Reading proficiency: 46% ▲ 4.00%
• Median HH income: $55,856
• Composite: 40.04/100
• National rank: #3820
• State rank: #237 of 826 in TX

Livability — Granbury

• Score: 66/100
• State rank: #628
• US rank: #11998

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Hood County · 58,506 people
• City population: 58,506
• Metro: Granbury, TX
• Population (ZIP): 31,506
• Household income: $104,967
• Rent vs Own: 12.3% rent · 87.7% own
• Severe rent burden: 235.0

Population outlook (Hood County) Hauer SSP2

• Today (2025): 63,502 people
• By 2030: 67,459 · +6.2%
• By 2040: 74,958 · +18.0%
• By 2050: 81,922 · +29.0%
• By 2075: 98,872 · +55.7%
• By 2100: 107,796 · +69.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Hispanic / Latino 14% Two or more races 9%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Slovak 3% Serbian 2% Italian 2%
• Foreign-born: 5% · Canada
• Languages at home: 91% English-only · Spanish 8%

Political lean MEDSL · Hood

• 2024 margin: Solid R (+66.0) · D 16.6% · R 82.6%
• 2008→2024 swing: -11.9pp toward R · 2008: -54.0pp · 2024: -66.0pp
• All cycles: 2024: R+66.0 2020: R+64.1 2016: R+66.5 2012: R+64.7 2008: R+54.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -100.09%
• Current HPI: 273.1293
• Rent YoY: ▲ 5.20%
• Metro: Granbury, 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

-43.8% since first listed

4 events — show timeline

• 2026-06-02 Listed $89,900 NTREIS
• 2023-09-26 Price Changed $140,000 NTREIS
• 2023-05-16 Listed $160,000 NTREIS
• 1989-09-28 Sold (Public Records) — Public Records

Property tax history

+9.5%/yr

Latest (2025): $133 · +0.8% YoY. Source: county tax records.