1228 Fm 1643 · Winnsboro, TX 75494

$119,000

3 bd · 2.0 ba · 1,306 sqft · Manufactured public records · 10 Days on market

Built 1989 0.36 ac lot ↓ 15% since listing

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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
• DSCR +10.0/10.0
• 1% rule +8.8/10.0
• ARV discount +7.5/15.0
• Schools +3.5/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Where the nights are quiet and the stars still shine. Tucked away on . 36 of an acre among the winding roads of East Texas, this well cared for 3 bedroom 2 bath home feels like the kind of place that’s getting harder and harder to find. Coffee on the covered front porch. Quiet evenings. A slower pace and a little more room to enjoy it. Built with 2x4 construction and solid plywood floors, this home was designed with durability in mind. Features include a metal roof, natural gas HVAC system, natural gas stove, and all appropriate tie downs already in place. Recent updates completed in 2026 include flooring, paint, vanities, and light fixtures throughout. New 50 gallon water heater was

Key facts

• Covered front porch
• Natural gas stove
• Metal roof

Tags

• COVERED FRONT PORCH
• METAL ROOF
• NATURAL GAS HVAC SYSTEM
• NATURAL GAS STOVE
• OVERSIZED BONUS ROOM

Property features AI

Finance

• Other: Listing accepted conventional, FHA, VA, or cash financing (per listing terms)
• HOA & community: No association

Exterior

• Parking: Detached carport; Covered parking for 2 vehicles; Two carport spaces and two covered spaces; Additional parking available
• Utilities: Septic system (no city sewer); No city services; Utilities available (easement present)
• Home design: Manufactured home (attached); Single-story; No special accessibility features noted
• Construction: Metal roof; Pillar/post/pier foundation; Built in 1989
• Exterior features: Covered porch(es); Easements for utilities; Lot under 0.5 acre (approximately 0.363 acre)

Interior

• Kitchen: Dishwasher; Gas range; Kitchen plumbed for gas
• Bedrooms: Three bedrooms (all on the main level); Primary bedroom approximately 11 x 13; Second bedroom approximately 11 x 13; Third bedroom approximately 7 x 13
• Bathrooms: Two full bathrooms
• Heating & cooling: Central heating (natural gas); Electric cooling; Ceiling fans
• Interior features: Decorative lighting; One living area; One dining area; Total of 8 rooms; One level (single-story)
• Laundry & utility: Gas water heater; Utility room approximately 5 x 6

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $119k.

Deal economics

• At list price, monthly cash flow is $495 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $119k).
• Cap rate 12.0% vs local median 3.8% in Winnsboro — 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 69/100 on livability (#416 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: employment D+, 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).
• Market conditions: 220 active listings in the ZIP; 72 units permitted in Wood County in 2024 (29 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $823 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Wood County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $33k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 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

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; major wind risk, 27% 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.

Recommended offer $119,000

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.38% ✓
• Cap rate: 11.96%
• Cash-on-cash: 20.23%
• DSCR: 1.90
• GRM: 6.0

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: 9.4%
• Equity multiple: 1.37×
• Total profit: $12,270
• Equity at exit: $17,743

10-year hold

• IRR: 18.5%
• Equity multiple: 2.54×
• Total profit: $51,350
• Equity at exit: $10,289

Cash invested: $33,320 (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 75494

• Home prices YoY: -10.9%
• Active inventory: 220
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,643 medium
• Mortgage (P&I): −$624
• Tax from tax record: −$62 /mo · $749/yr
• Insurance: −$50
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$345
• Net cashflow: $495

Break-even live

Break-even rent $1,016

Max offer price $119,000

Occupancy floor 65%

Sensitivity live

Price	-10% $563	-5% $529	+0% $495	+5% $462	+10% $428
Rent	-10% $365	-5% $430	+0% $495	+5% $560	+10% $625
Rate	-1.0pp $555	-0.5pp $525	base $495	+0.5pp $464	+1.0pp $433

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: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-18
   status $119,000 Pending 10 DOM
2. 2026-06-18
   days on market $119,000 Active Option Contract 10 DOM
3. 2026-06-17
   days on market $119,000 Active Option Contract 9 DOM
4. 2026-06-16
   days on market $119,000 Active Option Contract 8 DOM
5. 2026-06-15
   days on market $119,000 Active Option Contract 7 DOM
6. 2026-06-15
   days on market $119,000 Active Option Contract 6 DOM
7. 2026-06-13
   days on market $119,000 Active Option Contract 5 DOM
8. 2026-06-12
   statusdays on market $119,000 Active Option Contract 4 DOM
9. 2026-06-09
   remarks 693-char remark
10. 2026-06-09
    listed $119,000 Active 1 DOM

ⓘ 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: $749 · $62/mo
• Projected year-2 tax: $2,178 · $181/mo
• Expected delta: +$1,429/yr (+$119/mo · 190.8%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥110°F today · 24 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,712
• − Mortgage interest: −$6,666
• − Property taxes: −$749
• − Insurance: −$1,392
• − Repairs & maintenance: −$1,577
• − Management: −$1,577
• − Depreciation: −$3,462
• Taxable income: $4,289
• Est. tax owed @ 24.0%: −$1,029
• After-tax cash flow: $4,913/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: Quitman ISD
• NCES district ID: 4836300
• Math proficiency: 36% ▼ -15.00%
• Reading proficiency: 47% ▼ -4.00%
• Median HH income: $42,081
• Composite: 34.94/100
• National rank: #5063
• State rank: #381 of 826 in TX

Livability — Winnsboro

• Score: 69/100
• State rank: #416
• US rank: #8564

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 11,685

Population outlook (Wood County) Hauer SSP2

• Today (2025): 46,480 people
• By 2030: 47,796 · +2.8%
• By 2040: 50,142 · +7.9%
• By 2050: 52,122 · +12.1%
• By 2075: 57,033 · +22.7%
• By 2100: 56,418 · +21.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Hispanic / Latino 13% Two or more races 10% Black 1% Asian 1%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Serbian 2% Iranian 2% Slovak 1%
• Foreign-born: 7% · Canada, South Korea
• Languages at home: 89% English-only · Spanish 8% German/W. Germanic 1% Arabic 1%

Political lean MEDSL · Wood

• 2024 margin: Solid R (+69.7) · D 14.8% · R 84.6%
• 2008→2024 swing: -15.5pp toward R · 2008: -54.2pp · 2024: -69.7pp
• All cycles: 2024: R+69.7 2020: R+68.2 2016: R+70.0 2012: R+64.2 2008: R+54.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -28.64%
• Current HPI: 234.6203
• 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

-15.0% since first listed

21 events — show timeline

• 2026-06-08 Listed $119,000 NTREIS
• 2026-02-11 Listing Removed — NTREIS
• 2026-02-09 Relisted — NTREIS
• 2026-01-30 Contingent — NTREIS
• 2026-01-13 Price Changed $118,000 GTAR
• 2025-12-15 Price Changed $120,000 GTAR
• 2025-12-12 Price Changed $120,000 NTREIS
• 2025-11-24 Price Changed $125,000 GTAR
• 2025-11-20 Price Changed $125,000 NTREIS
• 2025-11-13 Price Changed $127,000 NTREIS
• 2025-10-30 Price Changed $128,000 NTREIS
• 2025-10-30 Price Changed $128,000 GTAR
• 2025-10-24 Price Changed $129,000 NTREIS
• 2025-10-20 Price Changed $130,000 GTAR
• 2025-10-20 Price Changed $130,000 NTREIS
• 2025-10-06 Price Changed $135,000 GTAR
• 2025-10-01 Price Changed $135,000 NTREIS
• 2025-09-10 Price Changed $139,900 NTREIS
• 2025-08-20 Listed $140,000 NTREIS
• 2023-05-05 Sold (Public Records) — Public Records
• 1992-06-30 Sold (Public Records) — Public Records

Property tax history

+7.7%/yr

Latest (2025): $749 · +16.5% YoY. Source: county tax records.