2023 Jessup Eisenhower Plan · Converse, TX 78109

$115,000

3 bd · 2.0 ba · 1,920 sqft · Manufactured · 520 Days on market

Good condition

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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
• Condition / age +4.0/5.0
• Livability +3.3/5.0
• Schools +2.4/10.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Converse Meadows is an exciting and evolving manufactured home community in Converse, Texas. Our community features a range of affordable homes and is undergoing a significant transformation with the addition of new amenities. Residents will enjoy a modern clubhouse, a refreshing pool, a welcoming sales center, a charming gazebo, and a lively BBQ area, all contributing to a vibrant and enjoyable living environment. Come explore Converse Meadows and find your new home.

Key facts

• Listed 520 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $115k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $626 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Recommended offer: $101k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.8% vs local median 4.4% in Converse — 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 (#649 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B; Watch: schools C-, crime C-, amenities F.
• Judson ISD (suburban): math 21% / reading 33% proficiency, ranked #660 of 826 in TX (top 80%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents soft (-1.1%/yr); 1152 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 8,308 units permitted in Bexar County in 2024 (2,506 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Bexar County population projected at +50% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $32k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 520 days — a 12% lower offer ($101k) is reasonable based on typical stale-listing flexibility.
• 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.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $101,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 520 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.56% ✓
• Cap rate: 12.83%
• Cash-on-cash: 23.34%
• DSCR: 2.04
• GRM: 5.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 13.0%
• Equity multiple: 1.50×
• Total profit: $16,005
• Equity at exit: $17,147

10-year hold

• IRR: 19.4%
• Equity multiple: 2.40×
• Total profit: $45,032
• Equity at exit: $9,943

Cash invested: $32,200 (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 78109

• Home prices YoY: -17.8%
• Rents YoY: -1.1%
• Active inventory: 1152
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,799 high
• Mortgage (P&I): −$603
• Tax est. 1.5%: −$144 /mo · $1,725/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$378
• Net cashflow: $626

Break-even live

Break-even rent $1,006

Max offer price $115,000

Occupancy floor 60%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8827 Slumber Ln Converse, TX	3.0	2.0	1292	$2,000	$1.55	43d	1	0.22mi
8818 Slumber Ln Converse, TX	3.0	2.0	1259	$1,700	$1.35	2d	1	0.26mi
8422 Parry Path Converse, TX	3.0	2.0	1641	$1,550	$0.94	43d	1	0.32mi
8732 Seneca Crk Converse, TX	3.0	2.5	1582	$1,445	$0.91	43d	1	0.33mi
8423 Parry Path Converse, TX	4.0	2.5	2576	$1,800	$0.70	43d	1	0.36mi
7038 Cole Creek Dr Converse, TX	3.0	2.5	1582	$1,695	$1.07	23d	1	0.36mi
317 Vivian Dr Converse, TX	3.0	2.0	1454	$1,650	$1.13	2d	1	0.37mi
10814 Lillia BR San Antonio, TX	3.0	2.0	1266	$1,600	$1.26	43d	1	0.43mi
8911 Nature Trl Converse, TX	4.0	2.5	2042	$1,790	$0.88	23d	1	0.47mi
313 Renee Dr Converse, TX	3.0	3.0	1884	$1,650	$0.88	23d	1	0.47mi
8206 Grimchester Converse, TX	3.0	2.0	1913	$2,100	$1.10	43d	1	0.48mi
8206 Talkenhorn Converse, TX	3.0	2.0	1584	$1,595	$1.01	43d	1	0.48mi
8206 Talkenhorn Converse, TX	3.0	2.0	1584	$1,895	$1.20	23d	1	0.48mi
6863 Cypress Mist Dr Converse, TX	3.0	2.0	1735	$1,550	$0.89	10d	1	0.50mi
8119 Grimchester Converse, TX	4.0	2.0	2334	$1,955	$0.84	4d	1	0.53mi
6827 Cypress Mist Dr Converse, TX	3.0	2.5	1698	$1,449	$0.85	2d	1	0.54mi
6610 Eastern Clouds Converse, TX	3.0	2.0	1496	$1,660	$1.11	4d	1	0.64mi
326 Diana Dr Converse, TX	4.0	2.5	2422	$1,800	$0.74	23d	1	0.65mi
6718 Haven Meadow Dr Converse, TX	4.0	2.5	2278	$1,700	$0.75	23d	1	0.66mi
8031 Manderly Pl Converse, TX	3.0	2.0	2575	$1,739	$0.68	23d	1	0.68mi
8050 Swindow Cir Converse, TX	3.0	2.0	1893	$1,600	$0.85	4d	1	0.70mi
6822 Eden Grove Dr Converse, TX	3.0	2.0	1435	$1,490	$1.04	43d	1	0.71mi
7611 Overview Pl San Antonio, TX	3.0	2.0	1451	$1,750	$1.21	14d	1	0.74mi
6846 Columbia Ridge Dr Converse, TX	3.0	2.0	1307	$1,430	$1.09	4d	1	0.74mi
8320 Morning Grv Converse, TX	4.0	2.5	1879	$1,590	$0.85	21d	1	0.76mi
6870 Flaming Ridge Dr Converse, TX	3.0	2.0	1698	$1,695	$1.00	23d	1	0.78mi
6870 Flaming Ridge Dr Converse, TX	3.0	2.5	1698	$1,695	$1.00	12d	1	0.78mi
6606 Highland Grass Converse, TX	4.0	2.5	2278	$1,800	$0.79	44d	1	0.79mi
8206 Longhorn Ridge Dr Converse, TX	3.0	2.0	1386	$1,525	$1.10	2d	1	0.80mi
9019 Gore Cres Converse, TX	3.0–5.0	2.0–3.5	2058	$2,220	$1.08	1d	1	0.81mi
8003 Chestnut Manor Dr Converse, TX	3.0	2.0	1641	$1,795	$1.09	16d	1	0.81mi
6414 Kensinger Pass Converse, TX	3.0	2.5	1582	$2,100	$1.33	43d	1	0.81mi
8203 Maple Meadow Dr Converse, TX	4.0	2.5	2340	$1,759	$0.75	2d	1	0.82mi
8335 Bent Meadow Dr Converse, TX	3.0	2.0	1513	$1,595	$1.05	43d	1	0.82mi
6623 Meadow Dawn Dr Converse, TX	3.0	2.0	1513	$1,600	$1.06	43d	1	0.83mi
9219 Foxing Blfs Converse, TX	3.0	2.0	1526	$1,850	$1.21	23d	1	0.86mi
6326 Kensinger Pass Converse, TX	4.0	2.5	2278	$1,800	$0.79	14d	1	0.87mi
8304 Heights Vly Converse, TX	3.0	2.0	1249	$1,450	$1.16	14d	1	0.87mi
8314 Steep Vly Converse, TX	4.0	3.0	2316	$1,625	$0.70	23d	1	0.87mi
103 Avenue F Unit A Converse, TX	2.0	1.0	1372	$1,175	$0.86	43d	1	0.88mi

Listing history 16 events

1. 2026-06-18
   days on market $115,000 Active 520 DOM
2. 2026-06-17
   days on market $115,000 Active 519 DOM
3. 2026-06-16
   days on market $115,000 Active 518 DOM
4. 2026-06-15
   days on market $115,000 Active 517 DOM
5. 2026-06-13
   days on market $115,000 Active 515 DOM
6. 2026-06-09
   days on market $115,000 Active 511 DOM
7. 2026-06-08
   days on market $115,000 Active 510 DOM
8. 2026-06-07
   days on market $115,000 Active 509 DOM
9. 2026-06-04
   days on market $115,000 Active 506 DOM
10. 2026-06-03
    days on market $115,000 Active 505 DOM
11. 2026-06-02
    days on market $115,000 Active 504 DOM
12. 2026-06-01
    days on market $115,000 Active 503 DOM
13. 2026-05-31
    days on market $115,000 Active 502 DOM
14. 2025-05-01
    status Active 472-char remark

    Show marketing remark (472 chars)

    Converse Meadows is an exciting and evolving manufactured home community in Converse, Texas. Our community features a range of affordable homes and is undergoing a significant transformation with the addition of new amenities. Residents will enjoy a modern clubhouse, a refreshing pool, a welcoming sales center, a charming gazebo, and a lively BBQ area, all contributing to a vibrant and enjoyable living environment. Come explore Converse Meadows and find your new home.

15. 2025-05-01
    historical 472-char remark

    Show marketing remark (472 chars)

    Converse Meadows is an exciting and evolving manufactured home community in Converse, Texas. Our community features a range of affordable homes and is undergoing a significant transformation with the addition of new amenities. Residents will enjoy a modern clubhouse, a refreshing pool, a welcoming sales center, a charming gazebo, and a lively BBQ area, all contributing to a vibrant and enjoyable living environment. Come explore Converse Meadows and find your new home.

16. 2025-01-15
    listed $115,000 Active 472-char remark

    Show marketing remark (472 chars)

    Converse Meadows is an exciting and evolving manufactured home community in Converse, Texas. Our community features a range of affordable homes and is undergoing a significant transformation with the addition of new amenities. Residents will enjoy a modern clubhouse, a refreshing pool, a welcoming sales center, a charming gazebo, and a lively BBQ area, all contributing to a vibrant and enjoyable living environment. Come explore Converse Meadows and find your new home.

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 22 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $21,584
• − Mortgage interest: −$6,442
• − Property taxes: −$1,725
• − Insurance: −$575
• − Repairs & maintenance: −$1,727
• − Management: −$1,727
• − Depreciation: −$3,345
• Taxable income: $6,043
• Est. tax owed @ 24.0%: −$1,450
• After-tax cash flow: $6,064/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.

Condition & rehab AI · 1 photo

Good 80/100 Cosmetic rehab

This manufactured home is in good condition with a modern interior and curb appeal. It has potential for further value increases through minor exterior updates and smart home upgrades.

Value-add opportunities

• Both Painting the exterior — Fresh paint can enhance curb appeal and property value.
• Both Landscaping improvements — A well-maintained yard can attract more potential buyers or renters.
• Resale Updating the kitchen appliances — Modern appliances can appeal to a broader range of buyers.
• Both Adding smart home features — Smart home features can increase both resale and rental value by attracting tech-savvy buyers and renters.
• Both Upgrading the HVAC system — A more efficient HVAC system can improve comfort and reduce energy costs, appealing to buyers and renters alike.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior — Fresh paint can enhance curb appeal and property value. ↑
• Both Landscaping improvements — A well-maintained yard can attract more potential buyers or renters. ↑
• Resale Updating the kitchen appliances — Modern appliances can appeal to a broader range of buyers. ↑
• Both Adding smart home features — Smart home features can increase both resale and rental value by attracting tech-savvy buyers and renters. ↑
• Both Upgrading the HVAC system — A more efficient HVAC system can improve comfort and reduce energy costs, appealing to buyers and renters alike. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Judson ISD
• NCES district ID: 4824990
• Math proficiency: 21% ▼ -21.00%
• Reading proficiency: 33% ▼ -7.00%
• Median HH income: $57,542
• Composite: 24.39/100
• National rank: #7689
• State rank: #660 of 826 in TX

Livability — Converse

• Score: 66/100
• State rank: #649
• US rank: #12250

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Converse, TX
• County: Bexar County · 1,990,555 people
• City population: 63,067
• Metro: San Antonio-New Braunfels, TX
• Population (ZIP): 63,067
• Household income: $91,320
• Rent vs Own: 25.1% rent · 74.9% own
• Severe rent burden: 1732.0

Population outlook (Bexar County) Hauer SSP2

• Today (2025): 2,336,851 people
• By 2030: 2,560,728 · +9.6%
• By 2040: 3,020,569 · +29.3%
• By 2050: 3,493,522 · +49.5%
• By 2075: 4,668,459 · +99.8%
• By 2100: 5,533,242 · +136.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: Hispanic / Latino 44% White 27% Two or more races 21% Black 21% Asian 3%
• Hispanic origin (detail): Mexican 29% Puerto Rican 4%
• Common ancestry: Lithuanian 1% Romanian 1% Italian 1%
• Foreign-born: 11% · Canada, Vietnam, South Korea
• Languages at home: 71% English-only · Spanish 23% Tagalog/Filipino 1% Other Asian/Pacific 1%

Political lean MEDSL · Bexar

• 2024 margin: Lean D (+9.8) · D 54.3% · R 44.6% · Other 1.1%
• 2008→2024 swing: +4.2pp toward D · 2008: 5.6pp · 2024: 9.8pp
• All cycles: 2024: D+9.8 2020: D+18.2 2016: D+13.5 2012: D+4.6 2008: D+5.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -51.02%
• Current HPI: 236.4923
• Rent YoY: ▼ -1.08%
• Metro: San Antonio-New Braunfels, TX
• 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

3 events — show timeline

• 2025-05-01 Relisted — Zillow
• 2025-05-01 Delisted — Zillow
• 2025-01-15 Listed $115,000 Zillow