312 Goddard Ave

Panhandle, TX 79068

$132,500C

3 bd · 1.0 ba · 1,512 sqft · Built 1986 · Manufactured · Pending · 38 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,353/mo
• Mortgage (P&I): −$695
• Tax + insurance: −$133
• HOA: −$0
• Vac / Maint / Mgmt: −$284
• Net cashflow: $241/mo
• Annual: $2,896/yr
• Cap rate: 8.48%
• Cash-on-cash: 7.81%
• DSCR: 1.35
• 1% rule: 1.02%
• Cash to close: $37,100

Investor read

• This is a 3-bed/1.0-bath manufactured listed at $132k.
• At list price, monthly cash flow is $241 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $132k).
• It's been on market 38 days — a 3% lower offer ($129k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $129k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $916 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 81/100 on livability (#21 in TX, #1,354 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities F, commute F.
• Panhandle ISD (rural): math 73% / reading 61% proficiency, ranked #27 of 826 in TX (top 3%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Panhandle El (math 67% / reading 67%, grade B+, #199 of 4,322 statewide, top 5%, 317 students, 32% FRL); Panhandle J H (math 77% / reading 57%, grade A-, #84 of 1,662 statewide, top 5%, 151 students, 32% FRL); Panhandle H S (math 74% / reading 74%, grade B+, #82 of 1,632 statewide, top 6%, 189 students, 26% FRL) — zoned schools at 30% FRL track the district average.
• Market conditions: 23 active listings in the ZIP; 39 units permitted in Carson County in 2024 (0 in 5+ unit buildings).
• Carson County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• 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.