214 Gandy St · Lipan, TX 76462

$154,000

3 bd · 2.0 ba · 1,120 sqft · Manufactured · 181 Days on market

Built 2000 Average condition 6,970 sqft lot $138/sqft · 65% below area ↓ 4% 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 +21.3/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.8/10.0
• 1% rule +5.6/10.0
• Schools +4.1/10.0
• Livability +3.1/5.0
• Condition / age +2.8/5.0
• Rent growth +2.5/5.0

Listing remarks MLS

Well-maintained 3 bedroom, 2 bath manufactured home offering comfortable living and practical updates throughout. Located on a .16-acre lot, this property features a covered front porch with wheelchair-accessible ramp, seamless rain gutters installed approximately two years ago, and a wood privacy fence for added privacy. A newer storage shed provides extra outdoor storage. Inside, the living room, dining area, and kitchen have been recently painted, creating a bright and inviting interior. Both bathrooms have been remodeled with new shower stalls. The kitchen offers ample cabinetry, a gas stove and oven, and a dishwasher. Bedrooms include ceiling fans, and the primary bedroom features a walk-in closet. Additional highlights include central air and heat that is serviced annually, a composition roof less than seven years old, and a propane hot water heater approximately three years old. The home is connected to city water and sewer, making everyday living simple and convenient. A well-cared-for home with accessibility features and recent improvements—schedule your showing today!

Key facts

• Covered front porch
• Newer storage shed
• Wood privacy fence

Tags

• COVERED FRONT PORCH
• WHEELCHAIR ACCESSIBLE RAMP
• SEAMLESS RAIN GUTTERS
• WOOD PRIVACY FENCE
• NEWER STORAGE SHED
• REMODELED BATHROOMS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $154k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $225 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $154k).
• Recommended offer: $136k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.0% vs local median 0.4% in Lipan — 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 62/100 on livability (#974 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety D+, employment D, crime F.
• Lipan ISD (rural): math 46% / reading 48% proficiency, ranked #211 of 826 in TX (top 26%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Lipan El (math 52% / reading 47%, grade D, #865 of 4,322 statewide, top 21%, 252 students, 62% FRL); Lipan H S (math 37% / reading 52%, grade F, #652 of 1,632 statewide, top 43%, 215 students, 46% FRL) — zoned schools average 54% FRL vs 39% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 105 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 125 units permitted in Hood County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $16k of equity ($1k loan paydown + $15k appreciation (10.0% local appreciation)).
• Hood County population projected at +29% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $43k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 181 days — a 12% lower offer ($136k) 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.

Recommended offer $135,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 181 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. 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?
5. 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.
6. 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.
7. 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: 1.06% ✓
• Cap rate: 8.04%
• Cash-on-cash: 6.25%
• DSCR: 1.28
• GRM: 7.9

CMA / ARV

• ARV (median comp): $435,000
• List price: $154,000
• Delta: -64.60%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 28.8%
• Equity multiple: 3.28×
• Total profit: $98,212
• Equity at exit: $138,735

10-year hold

• IRR: 25.1%
• Equity multiple: 7.45×
• Total profit: $278,010
• Equity at exit: $299,188

Cash invested: $43,120 (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 76462

• Home prices YoY: 6.2%
• Active inventory: 105
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,632 medium
• Mortgage (P&I): −$808
• Tax est. 1.5%: −$192 /mo · $2,310/yr
• Insurance: −$64
• HOA: −$0
• Vacancy / Maint / Mgmt: −$343
• Net cashflow: $225

Break-even live

Break-even rent $1,347

Max offer price $154,000

Occupancy floor 81%

Sensitivity live

Price	-10% $331	-5% $278	+0% $225	+5% $172	+10% $118
Rent	-10% $96	-5% $160	+0% $225	+5% $289	+10% $354
Rate	-1.0pp $302	-0.5pp $264	base $225	+0.5pp $185	+1.0pp $144

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: $38,500
• Closing costs: $4,620
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
129 Sears St Lipan, TX	2.0	2.0	1000	$1,400	$1.40	4d	1	0.48mi
224 S Caddo St Lipan, TX	3.0	1.0	1261	$1,900	$1.51	0d	1	0.55mi

Listing history 15 events

1. 2026-06-13
   statusdays on market $154,000 Pending 181 DOM
2. 2026-06-09
   days on market $154,000 Active Option Contract 178 DOM
3. 2026-06-08
   days on market $154,000 Active Option Contract 177 DOM
4. 2026-06-07
   days on market $154,000 Active Option Contract 176 DOM
5. 2026-06-04
   days on market $154,000 Active Option Contract 173 DOM
6. 2026-06-03
   days on market $154,000 Active Option Contract 172 DOM
7. 2026-06-02
   days on market $154,000 Active Option Contract 171 DOM
8. 2026-06-01
   days on market $154,000 Active Option Contract 170 DOM
9. 2026-06-01
   status $154,000 Active Option Contract 169 DOM
10. 2026-05-31
    days on market $154,000 Active 169 DOM
11. 2026-05-15
    price $154,000 1100-char remark

    Show marketing remark (1100 chars)

    Well-maintained 3 bedroom, 2 bath manufactured home offering comfortable living and practical updates throughout. Located on a .16-acre lot, this property features a covered front porch with wheelchair-accessible ramp, seamless rain gutters installed approximately two years ago, and a wood privacy fence for added privacy. A newer storage shed provides extra outdoor storage. Inside, the living room, dining area, and kitchen have been recently painted, creating a bright and inviting interior. Both bathrooms have been remodeled with new shower stalls. The kitchen offers ample cabinetry, a gas stove and oven, and a dishwasher. Bedrooms include ceiling fans, and the primary bedroom features a walk-in closet. Additional highlights include central air and heat that is serviced annually, a composition roof less than seven years old, and a propane hot water heater approximately three years old. The home is connected to city water and sewer, making everyday living simple and convenient. A well-cared-for home with accessibility features and recent improvements—schedule your showing today!

12. 2026-03-23
    price $155,000 1100-char remark

    Show marketing remark (1100 chars)

    Well-maintained 3 bedroom, 2 bath manufactured home offering comfortable living and practical updates throughout. Located on a .16-acre lot, this property features a covered front porch with wheelchair-accessible ramp, seamless rain gutters installed approximately two years ago, and a wood privacy fence for added privacy. A newer storage shed provides extra outdoor storage. Inside, the living room, dining area, and kitchen have been recently painted, creating a bright and inviting interior. Both bathrooms have been remodeled with new shower stalls. The kitchen offers ample cabinetry, a gas stove and oven, and a dishwasher. Bedrooms include ceiling fans, and the primary bedroom features a walk-in closet. Additional highlights include central air and heat that is serviced annually, a composition roof less than seven years old, and a propane hot water heater approximately three years old. The home is connected to city water and sewer, making everyday living simple and convenient. A well-cared-for home with accessibility features and recent improvements—schedule your showing today!

13. 2026-02-05
    status Active 1100-char remark

    Show marketing remark (1100 chars)

    Well-maintained 3 bedroom, 2 bath manufactured home offering comfortable living and practical updates throughout. Located on a .16-acre lot, this property features a covered front porch with wheelchair-accessible ramp, seamless rain gutters installed approximately two years ago, and a wood privacy fence for added privacy. A newer storage shed provides extra outdoor storage. Inside, the living room, dining area, and kitchen have been recently painted, creating a bright and inviting interior. Both bathrooms have been remodeled with new shower stalls. The kitchen offers ample cabinetry, a gas stove and oven, and a dishwasher. Bedrooms include ceiling fans, and the primary bedroom features a walk-in closet. Additional highlights include central air and heat that is serviced annually, a composition roof less than seven years old, and a propane hot water heater approximately three years old. The home is connected to city water and sewer, making everyday living simple and convenient. A well-cared-for home with accessibility features and recent improvements—schedule your showing today!

14. 2026-01-19
    historical Active Option Contract 1100-char remark

    Show marketing remark (1100 chars)

    Well-maintained 3 bedroom, 2 bath manufactured home offering comfortable living and practical updates throughout. Located on a .16-acre lot, this property features a covered front porch with wheelchair-accessible ramp, seamless rain gutters installed approximately two years ago, and a wood privacy fence for added privacy. A newer storage shed provides extra outdoor storage. Inside, the living room, dining area, and kitchen have been recently painted, creating a bright and inviting interior. Both bathrooms have been remodeled with new shower stalls. The kitchen offers ample cabinetry, a gas stove and oven, and a dishwasher. Bedrooms include ceiling fans, and the primary bedroom features a walk-in closet. Additional highlights include central air and heat that is serviced annually, a composition roof less than seven years old, and a propane hot water heater approximately three years old. The home is connected to city water and sewer, making everyday living simple and convenient. A well-cared-for home with accessibility features and recent improvements—schedule your showing today!

15. 2025-12-13
    listed $160,000 Active 1100-char remark

    Show marketing remark (1100 chars)

    Well-maintained 3 bedroom, 2 bath manufactured home offering comfortable living and practical updates throughout. Located on a .16-acre lot, this property features a covered front porch with wheelchair-accessible ramp, seamless rain gutters installed approximately two years ago, and a wood privacy fence for added privacy. A newer storage shed provides extra outdoor storage. Inside, the living room, dining area, and kitchen have been recently painted, creating a bright and inviting interior. Both bathrooms have been remodeled with new shower stalls. The kitchen offers ample cabinetry, a gas stove and oven, and a dishwasher. Bedrooms include ceiling fans, and the primary bedroom features a walk-in closet. Additional highlights include central air and heat that is serviced annually, a composition roof less than seven years old, and a propane hot water heater approximately three years old. The home is connected to city water and sewer, making everyday living simple and convenient. A well-cared-for home with accessibility features and recent improvements—schedule your showing today!

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

Taxation est. · year 1

• Rental income: $19,580
• − Mortgage interest: −$8,626
• − Property taxes: −$2,310
• − Insurance: −$770
• − Repairs & maintenance: −$1,566
• − Management: −$1,566
• − Depreciation: −$4,480
• Taxable income: $261
• Est. tax owed @ 24.0%: −$63
• After-tax cash flow: $2,635/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 · 12 photos

Average 55/100 Cosmetic rehab

This well-maintained 3-bedroom, 2-bath manufactured home offers practical updates throughout. It features a covered front porch with a wheelchair-accessible ramp and seamless rain gutters. The home has potential for significant value increase with updates to the kitchen and flooring.

Repairs flagged

• Moderate Kitchen cabinets — Dated appearance
• Minor Kitchen countertops — Need updating

Value-add opportunities

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Both Replace carpeted flooring — Hardwood or tile flooring would increase both resale and rental value
• Both Update kitchen cabinets and countertops — Modern kitchen will attract more buyers and renters

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Dated appearance	Moderate	$3,000–15,000
Kitchen countertops · Need updating	Minor	$500–3,000
Total estimated repair cost · 2 items		$3,500–18,000

Value-add ROI direction

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Replace carpeted flooring — Hardwood or tile flooring would increase both resale and rental value ↑
• Both Update kitchen cabinets and countertops — Modern kitchen will attract more buyers and renters ↑

ⓘ 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: Lipan ISD
• NCES district ID: 4827630
• Math proficiency: 46% ▼ -4.00%
• Reading proficiency: 48% ▼ -2.00%
• Median HH income: $56,744
• Composite: 40.94/100
• National rank: #3608
• State rank: #211 of 826 in TX

Livability — Lipan

• Score: 62/100
• State rank: #974
• US rank: #17249

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lipan, TX
• Population (ZIP): 4,920

Population outlook (Hood County) Hauer SSP2

• Today (2025): 63,502 people
• By 2030: 67,459 · +6.2%
• By 2040: 74,958 · +18.0%
• By 2050: 81,922 · +29.0%
• By 2075: 98,872 · +55.7%
• By 2100: 107,796 · +69.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Hispanic / Latino 17% Two or more races 4%
• Hispanic origin (detail): Mexican 17%
• Common ancestry: Italian 5% Portuguese 5% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 94% English-only · Spanish 6%

Political lean MEDSL · Hood

• 2024 margin: Solid R (+66.0) · D 16.6% · R 82.6%
• 2008→2024 swing: -11.9pp toward R · 2008: -54.0pp · 2024: -66.0pp
• All cycles: 2024: R+66.0 2020: R+64.1 2016: R+66.5 2012: R+64.7 2008: R+54.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 20.20%
• Current HPI: 347.1688
• 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

-3.8% since first listed

5 events — show timeline

• 2026-05-15 Price Changed $154,000 NTREIS
• 2026-03-23 Price Changed $155,000 NTREIS
• 2026-02-05 Relisted — NTREIS
• 2026-01-19 Contingent — NTREIS
• 2025-12-13 Listed $160,000 NTREIS