10992 Fm 244 Rd

Anderson, TX 77830

$220,000D

4 bd · 2.0 ba · 2,432 sqft · Built 2004 · Manufactured · Active · 54 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,500/mo
• Mortgage (P&I): −$1,154
• Tax + insurance: −$146
• HOA: −$0
• Vac / Maint / Mgmt: −$315
• Net cashflow: $-115/mo
• Annual: $-1,374/yr
• Cap rate: 5.67%
• Cash-on-cash: -2.23%
• DSCR: 0.90
• 1% rule: 0.68%
• Cash to close: $61,600

Investor read

• This is a 4-bed/2.0-bath manufactured listed at $220k.
• At list price, monthly cash flow is $-115 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $200k (9.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $150k (31.8% below list).
• It's been on market 54 days — a 3% lower offer ($213k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $150k (31.8% below list) — sets the bar for 1% rule.
• In year one you build about $24 of equity ($2k loan paydown + $-1k appreciation (-0.7% local appreciation)).
• Location reads 58/100 on livability (#1,197 in TX) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: employment D+, crime F, amenities F.
• Anderson-Shiro CISD (rural): math 57% / reading 54% proficiency, ranked #107 of 826 in TX (top 13%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 80 active listings in the ZIP; 110 units permitted in Grimes County in 2024 (0 in 5+ unit buildings).
• Grimes County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 2 sale attempts since 11y 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 wind risk, 93% chance of damaging wind over 30y; extreme-heat days projected 7→24/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 54 days. Have you received any prior offers? Is the seller open to a 32% 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.
• Crime grade is F 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?
• 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.