1700 W Fort Davis Ave

Alpine, TX 79830

$142,000C

2 bd · 1.0 ba · 980 sqft · Built 1982 · Manufactured · Active · 19 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,373/mo
• Mortgage (P&I): −$745
• Tax + insurance: −$93
• HOA: −$0
• Vac / Maint / Mgmt: −$288
• Net cashflow: $247/mo
• Annual: $2,966/yr
• Cap rate: 8.38%
• Cash-on-cash: 7.46%
• DSCR: 1.33
• 1% rule: 0.97%
• Cash to close: $39,760

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $142k.
• At list price, monthly cash flow is $247 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $137k (3.3% below list).
• It's been on market 19 days — a 2% lower offer ($140k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $137k (3.3% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $982 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 78/100 on livability (#73 in TX, #2,631 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities D+, commute F, employment F.
• Alpine ISD (town): math 43% / reading 53% proficiency, ranked #235 of 826 in TX (top 28%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Alpine El (math 27% / reading 37%, grade F, #2,268 of 4,322 statewide, top 55%, 377 students, 47% FRL); Alpine Middle (math 38% / reading 55%, grade D+, #443 of 1,662 statewide, top 28%, 269 students, 58% FRL); Alpine H S (math 77% / reading 62%, grade B, #119 of 1,632 statewide, top 9%, 308 students, 54% FRL).
• Market conditions: 167 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 7 units permitted in Brewster County in 2024 (0 in 5+ unit buildings).
• Brewster County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 2 sale attempts since 6y 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.
• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 6→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.