8080 State Highway 56 Hwy

Savoy, TX 75479

$279,900D

3 bd · 2.0 ba · 1,144 sqft · Built 2017 · Manufactured · Pending · 92 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,634/mo
• Mortgage (P&I): −$1,468
• Tax + insurance: −$280
• HOA: −$0
• Vac / Maint / Mgmt: −$343
• Net cashflow: $-456/mo
• Annual: $-5,476/yr
• Cap rate: 4.34%
• Cash-on-cash: -6.99%
• DSCR: 0.69
• 1% rule: 0.58%
• Cash to close: $78,372

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $280k.
• At list price, monthly cash flow is $-456 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $199k (28.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $163k (41.6% below list).
• It's been on market 92 days — a 9% lower offer ($255k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $163k (41.6% below list) — sets the bar for 1% rule.
• In year one you build about $7k of equity ($2k loan paydown + $5k appreciation (1.8% local appreciation)).
• Location reads 63/100 on livability (#870 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• Savoy ISD (rural): math 45% / reading 55% proficiency, ranked #372 of 1,141 in TX (top 33%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Savoy El (math 47% / reading 52%, grade D, #865 of 4,322 statewide, top 21%, 187 students, 59% FRL); Savoy H S (math 32% / reading 57%, grade F, #652 of 1,632 statewide, top 43%, 132 students, 54% FRL).
• Market conditions: 33 active listings in the ZIP; 82 units permitted in Fannin County in 2024 (0 in 5+ unit buildings).
• Fannin County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 4 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.
• By year 5, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• 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.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 92 days. Have you received any prior offers? Is the seller open to a 42% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.