786 Holiday Village Dr

Quitman, TX 75783

$149,900F

2 bd · 1.0 ba · 918 sqft · Built 2025 · Manufactured · Active · 194 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $835/mo
• Mortgage (P&I): −$786
• Tax + insurance: −$250
• HOA: −$52
• Vac / Maint / Mgmt: −$175
• Net cashflow: $-428/mo
• Annual: $-5,138/yr
• Cap rate: 2.87%
• Cash-on-cash: -12.24%
• DSCR: 0.46
• 1% rule: 0.56%
• Cash to close: $41,972

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $150k. Condition is rated good.
• At list price, monthly cash flow is $-428 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $88k (41.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $84k (44.3% below list).
• It's been on market 194 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $84k (44.3% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 76/100 on livability (#106 in TX, #3,504 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, amenities F, commute F.
• Quitman ISD (town): math 36% / reading 47% proficiency, ranked #381 of 826 in TX (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Quitman El (math 40% / reading 43%, grade F, #1,437 of 4,322 statewide, top 34%, 581 students, 64% FRL); Quitman J H (math 38% / reading 44%, grade F, #613 of 1,662 statewide, top 38%, 270 students, 58% FRL); Quitman H S (math 22% / reading 62%, grade F, #730 of 1,632 statewide, top 47%, 365 students, 53% FRL).
• Market conditions: 297 active listings in the ZIP; 72 units permitted in Wood County in 2024 (29 in 5+ unit buildings).
• Wood County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• This rent is only 16% of the median local income ($62k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

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 194 days. Have you received any prior offers? Is the seller open to a 44% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.