110 Bell St

Bangs, TX 76823

$54,999B+

3 bd · 2.0 ba · 1,188 sqft · Built 1995 · Manufactured · Active · 418 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $770/mo
• Mortgage (P&I): −$288
• Tax + insurance: −$111
• HOA: −$0
• Vac / Maint / Mgmt: −$162
• Net cashflow: $209/mo
• Annual: $2,508/yr
• Cap rate: 10.85%
• Cash-on-cash: 16.29%
• DSCR: 1.72
• 1% rule: 1.40%
• Cash to close: $15,400

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $55k.
• At list price, monthly cash flow is $209 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($770 rent vs $55k).
• It's been on market 418 days — a 12% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $48k (12.0% below list) — sets the bar for market timing.
• In year one you build about $3k of equity ($380 loan paydown + $3k appreciation (4.9% local appreciation)).
• Location reads 64/100 on livability (#739 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+; Watch: schools D+, employment D+, health & safety D+.
• Bangs ISD (rural): math 49% / reading 53% proficiency, ranked #178 of 826 in TX (top 22%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 41 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 142 units permitted in Brown County in 2024 (0 in 5+ unit buildings).
• At projected returns (4.9% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; severe wildfire risk; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 10.9% vs local median 4.1% in Bangs — 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.

Questions for listing agent

• It's been on market 418 days. Have you received any prior offers? Is the seller open to a 12% 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.