13231 Allemande Rd

El Paso, TX 79938

$230,000D

3 bd · 2.0 ba · 1,368 sqft · Built 2000 · Manufactured · Active · 313 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,778/mo
• Mortgage (P&I): −$1,206
• Tax + insurance: −$145
• HOA: −$0
• Vac / Maint / Mgmt: −$373
• Net cashflow: $54/mo
• Annual: $647/yr
• Cap rate: 6.57%
• Cash-on-cash: 1.00%
• DSCR: 1.04
• 1% rule: 0.77%
• Cash to close: $64,400

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $230k.
• At list price, monthly cash flow is $54 ($647/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $178k (22.7% below list).
• It's been on market 313 days — a 12% lower offer ($202k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $178k (22.7% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 81/100 on livability (#23 in TX, #1,375 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: employment D+.
• Socorro ISD (urban): math 23% / reading 36% proficiency, ranked #624 of 826 in TX (top 76%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Purple Heart El (math 15% / reading 22%, grade F, #3,759 of 4,322 statewide, top 88%, 960 students, 75% FRL); Spec Rafael Hernando Middle (math 27% / reading 28%, grade F, #1,156 of 1,662 statewide, top 71%, 752 students, 72% FRL); El Dorado H S (math 27% / reading 38%, grade F, #1,029 of 1,632 statewide, top 64%, 2,245 students, 75% FRL).
• Market conditions: Rents rising (+2.1%/yr); 1196 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 45% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 2,196 units permitted in El Paso County in 2024 (143 in 5+ unit buildings).
• El Paso County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 3 sale attempts; this cycle's ask has dropped $20k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Climate carrying-cost: extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 313 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
• 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.
• Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.
• 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.