140 Anderson County Road 362 · Palestine, TX 75803

$85,000

3 bd · 1.5 ba · 1,358 sqft · Manufactured public records · 171 Days on market

Built 1975 0.52 ac lot ↓ 6% 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
• Livability +3.3/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Enjoy peaceful country living in this beautifully remodeled mobile home situated on a spacious 0.5-acre lot. Recent updates include a brand-new kitchen with modern finishes and new windows throughout, bringing in plenty of natural light and improving energy efficiency. The open layout offers comfortable living with room to relax, while the large lot provides ample space for outdoor activities, gardening, animals, or future improvements. Located out in the county, this property offers a quiet setting while still being within reasonable driving distance to town. Whether you're looking for an affordable primary residence, a downsizing option, or a rural retreat, this home is a great opportunity. Call your Realtor today to set up a private tour!!!

Key facts

• Brand new kitchen
• Quiet setting
• Spacious lot

Tags

• REMODELED MOBILE HOME
• BRAND NEW KITCHEN
• NEW WINDOWS
• SPACIOUS LOT
• QUIET SETTING

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath manufactured listed at $85k.

Deal economics

• At list price, monthly cash flow is $611 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Recommended offer: $75k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.9% vs local median 3.9% in Palestine — 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 (#657 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D+, schools D, employment D.
• Palestine ISD (town): math 36% / reading 37% proficiency, ranked #509 of 826 in TX (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 134 active listings in the ZIP; 29 units permitted in Anderson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $588 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Anderson County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 171 days — a 12% lower offer ($75k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 71% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $74,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 171 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.67% ✓
• Cap rate: 14.92%
• Cash-on-cash: 30.80%
• DSCR: 2.37
• GRM: 5.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 25.5%
• Equity multiple: 2.06×
• Total profit: $25,111
• Equity at exit: $12,674

10-year hold

• IRR: 33.2%
• Equity multiple: 4.02×
• Total profit: $71,864
• Equity at exit: $7,349

Cash invested: $23,800 (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 75803

• Home prices YoY: -34.0%
• Active inventory: 134
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $1,420 medium
• Mortgage (P&I): −$446
• Tax from tax record: −$29 /mo · $353/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$298
• Net cashflow: $611

Break-even live

Break-even rent $646

Max offer price $85,000

Occupancy floor 52%

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-19
   days on market $85,000 Active 171 DOM
2. 2026-06-18
   days on market $85,000 Active 170 DOM
3. 2026-06-17
   days on market $85,000 Active 169 DOM
4. 2026-06-16
   days on market $85,000 Active 168 DOM
5. 2026-06-15
   days on market $85,000 Active 167 DOM
6. 2026-06-14
   days on market $85,000 Active 165 DOM
7. 2026-06-12
   days on market $85,000 Active 164 DOM
8. 2026-06-09
   days on market $85,000 Active 161 DOM
9. 2026-06-08
   days on market $85,000 Active 160 DOM
10. 2026-06-07
    days on market $85,000 Active 159 DOM
11. 2026-06-04
    days on market $85,000 Active 155 DOM
12. 2026-06-02
    days on market $85,000 Active 154 DOM
13. 2026-06-01
    days on market $85,000 Active 153 DOM
14. 2026-05-31
    days on market $85,000 Active 152 DOM
15. 2026-05-31
    days on market $85,000 Active 151 DOM
16. 2026-03-10
    price $85,000 753-char remark

    Show marketing remark (753 chars)

    Enjoy peaceful country living in this beautifully remodeled mobile home situated on a spacious 0.5-acre lot. Recent updates include a brand-new kitchen with modern finishes and new windows throughout, bringing in plenty of natural light and improving energy efficiency. The open layout offers comfortable living with room to relax, while the large lot provides ample space for outdoor activities, gardening, animals, or future improvements. Located out in the county, this property offers a quiet setting while still being within reasonable driving distance to town. Whether you're looking for an affordable primary residence, a downsizing option, or a rural retreat, this home is a great opportunity. Call your Realtor today to set up a private tour!!!

17. 2025-12-30
    listed $90,000 Active 753-char remark

    Show marketing remark (753 chars)

    Enjoy peaceful country living in this beautifully remodeled mobile home situated on a spacious 0.5-acre lot. Recent updates include a brand-new kitchen with modern finishes and new windows throughout, bringing in plenty of natural light and improving energy efficiency. The open layout offers comfortable living with room to relax, while the large lot provides ample space for outdoor activities, gardening, animals, or future improvements. Located out in the county, this property offers a quiet setting while still being within reasonable driving distance to town. Whether you're looking for an affordable primary residence, a downsizing option, or a rural retreat, this home is a great opportunity. Call your Realtor today to set up a private tour!!!

18. 2017-06-02
    soldstatus
19. 1993-07-16
    soldstatus

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast TX · Resets to sale price

• Current annual tax: $353 · $29/mo
• Projected year-2 tax: $1,556 · $130/mo
• Expected delta: +$1,202/yr (+$100/mo · 340.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

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 ≥110°F today · 26 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 71% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,036
• − Mortgage interest: −$4,761
• − Property taxes: −$353
• − Insurance: −$425
• − Repairs & maintenance: −$1,363
• − Management: −$1,363
• − Depreciation: −$2,473
• Taxable income: $6,298
• Est. tax owed @ 24.0%: −$1,511
• After-tax cash flow: $5,820/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: Palestine ISD
• NCES district ID: 4834050
• Math proficiency: 36% ▼ -12.00%
• Reading proficiency: 37% ▼ -1.00%
• Median HH income: $36,881
• Composite: 30.34/100
• National rank: #6267
• State rank: #509 of 826 in TX

Livability — Palestine

• Score: 66/100
• State rank: #657
• US rank: #12357

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 17,531
• Population (ZIP): 21,390

Population outlook (Anderson County) Hauer SSP2

• Today (2025): 56,663 people
• By 2030: 57,373 · +1.3%
• By 2040: 58,960 · +4.1%
• By 2050: 59,073 · +4.3%
• By 2075: 53,737 · -5.2%
• By 2100: 42,516 · -25.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 57% Hispanic / Latino 24% Two or more races 17% Black 14%
• Hispanic origin (detail): Mexican 22%
• Common ancestry: Romanian 1% Iranian 1% Slovak 1%
• Foreign-born: 7% · Canada, Vietnam
• Languages at home: 84% English-only · Spanish 14% German/W. Germanic 1% Other Indo-European 1%

Political lean MEDSL · Anderson

• 2024 margin: Solid R (+61.8) · D 18.8% · R 80.6%
• 2008→2024 swing: -18.3pp toward R · 2008: -43.5pp · 2024: -61.8pp
• All cycles: 2024: R+61.8 2020: R+58.0 2016: R+58.1 2012: R+52.2 2008: R+43.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -95.92%
• Current HPI: 186.4885
• 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

-5.6% since first listed

4 events — show timeline

• 2026-03-10 Price Changed $85,000 PAOR
• 2025-12-30 Listed $90,000 PAOR
• 2017-06-02 Sold (Public Records) — Public Records
• 1993-07-16 Sold (Public Records) — Public Records

Property tax history

-1.3%/yr

Latest (2025): $353 · -1.6% YoY. Source: county tax records.