113 County Road 3032 · Carthage, TX 75633

$99,900

3 bd · 2.0 ba · 1,368 sqft · Manufactured public records · 5 Days on market

Built 1994 ↓ 29% since listing

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Why this score? — see what drove the C+ 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 +27.4/30.0
• DSCR +9.6/10.0
• ARV discount +7.5/15.0
• 1% rule +7.0/10.0
• Livability +3.6/5.0
• Schools +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investors! 2 additional lots with septic and hookups outside the city on approximately 3.2 acres. This 3-bedroom, 2-bath home sits on approximately 3.21 acres and includes two additional lots already equipped with electric and septic perfect for expansion, rental potential, or future development. Inside, you’ll find an open-concept layout with a spacious living area, built-in cabinetry, and a functional kitchen offering ample counter space and storage. The split-bedroom floor plan provides added privacy, featuring a comfortable primary suite and two additional bedrooms ideal for guests, a home office, or hobbies. Step outside and enjoy the best of East Texas living with a covered carp

Key facts

• Functional kitchen
• Built-in cabinetry
• Covered carport

Tags

• OPEN-CONCEPT LAYOUT
• BUILT-IN CABINETRY
• FUNCTIONAL KITCHEN
• SPLIT-BEDROOM FLOOR PLAN
• PRIMARY SUITE
• COVERED CARPORT

Property features AI

Exterior

• Parking: Attached paved garage with 3 spaces
• Utilities: Propane
• Home design: Manufactured home; Single-story
• Exterior features: Chain link fencing; Level lot

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Natural gas heating; Central air conditioning
• Interior features: Electric water heater; 7 total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $100k.

Deal economics

• At list price, monthly cash flow is $292 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).

Location & tenants

• Location reads 72/100 on livability (#258 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D+, employment D+, crime F.
• Carthage ISD (town): math 41% / reading 41% proficiency, ranked #364 of 826 in TX (top 44%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 140 active listings in the ZIP; 6 units permitted in Panola County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Panola County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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.

Recommended offer $99,900

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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.
5. 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.
6. 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: 1.20% ✓
• Cap rate: 9.80%
• Cash-on-cash: 12.54%
• DSCR: 1.56
• GRM: 7.0

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: 2.3%
• Equity multiple: 1.09×
• Total profit: $2,418
• Equity at exit: $14,895

10-year hold

• IRR: 11.8%
• Equity multiple: 1.93×
• Total profit: $26,050
• Equity at exit: $8,638

Cash invested: $27,972 (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 75633

• Home prices YoY: -27.3%
• Active inventory: 140
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,196 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$87 /mo · $1,046/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$251
• Net cashflow: $292

Break-even live

Break-even rent $826

Max offer price $99,900

Occupancy floor 71%

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-05-06
   status Pending 1083-char remark
2. 2026-05-01
   listed $99,900 Active 1083-char remark
3. 2026-03-03
   price $120,000
4. 2025-11-03
   price $129,900
5. 2025-09-23
   listed $139,900 Active
6. 2012-02-03
   soldstatus
7. 2012-02-02
   soldstatus
8. 2011-12-02
   soldstatus
9. 2004-11-02
   soldstatus
10. 2001-08-22
    soldstatus
11. 1989-12-21
    soldstatus
12. 1989-12-08
    soldstatus
13. 1988-05-03
    soldstatus
14. 1985-01-24
    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: $1,046 · $87/mo
• Projected year-2 tax: $1,828 · $152/mo
• Expected delta: +$782/yr (+$65/mo · 74.8%)

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

Taxation est. · year 1

• Rental income: $14,353
• − Mortgage interest: −$5,596
• − Property taxes: −$1,046
• − Insurance: −$500
• − Repairs & maintenance: −$1,148
• − Management: −$1,148
• − Depreciation: −$2,906
• Taxable income: $2,009
• Est. tax owed @ 24.0%: −$482
• After-tax cash flow: $3,025/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: Carthage ISD
• NCES district ID: 4813110
• Math proficiency: 41% ▼ -3.00%
• Reading proficiency: 41% ▼ -3.00%
• Median HH income: $48,546
• Composite: 35.19/100
• National rank: #4997
• State rank: #364 of 826 in TX

Livability — Carthage

• Score: 72/100
• State rank: #258
• US rank: #6081

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 12,999

Population outlook (Panola County) Hauer SSP2

• Today (2025): 23,273 people
• By 2030: 22,845 · -1.8%
• By 2040: 21,652 · -7.0%
• By 2050: 20,107 · -13.6%
• By 2075: 15,709 · -32.5%
• By 2100: 11,013 · -52.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Two or more races 15% Hispanic / Latino 14% Black 11%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Lithuanian 5% Serbian 2% Slovak 2%
• Foreign-born: 6% · Canada, Vietnam
• Languages at home: 87% English-only · Spanish 11% Vietnamese 1% French/Haitian/Cajun 1%

Political lean MEDSL · Panola

• 2024 margin: Solid R (+66.4) · D 16.7% · R 83.1%
• 2008→2024 swing: -17.5pp toward R · 2008: -48.9pp · 2024: -66.4pp
• All cycles: 2024: R+66.4 2020: R+63.5 2016: R+63.5 2012: R+56.1 2008: R+48.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -60.73%
• Current HPI: 162.0275
• 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

-28.6% since first listed

15 events — show timeline

• 2026-06-16 Sold (MLS) — LAAR
• 2026-05-06 Pending — LAAR
• 2026-05-01 Listed $99,900 LAAR
• 2026-03-03 Price Changed $120,000 LAAR
• 2025-11-03 Price Changed $129,900 LAAR
• 2025-09-23 Listed $139,900 LAAR
• 2012-02-03 Sold (Public Records) — Public Records
• 2012-02-02 Sold (Public Records) — Public Records
• 2011-12-02 Sold (Public Records) — Public Records
• 2004-11-02 Sold (Public Records) — Public Records
• 2001-08-22 Sold (Public Records) — Public Records
• 1989-12-21 Sold (Public Records) — Public Records
• 1989-12-08 Sold (Public Records) — Public Records
• 1988-05-03 Sold (Public Records) — Public Records
• 1985-01-24 Sold (Public Records) — Public Records

Property tax history

+2.2%/yr

Latest (2025): $1,046 · +9.4% YoY. Source: county tax records.