128 Dorothy · Lakehills, TX 78063

$149,000

3 bd · 2.0 ba · 1,680 sqft · Manufactured public records · 69 Days on market

Built 1987 1.07 ac lot $89/sqft · 55% below area

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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 +27.1/30.0
• DSCR +9.4/10.0
• ARV discount +7.5/15.0
• 1% rule +6.8/10.0
• Schools +3.1/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nice Double wide on over an acre with a nice sized garage. 3 bedroom 2 full bath open yard on a dead end road with a quiet surroundings. House does need some work but is manageable and in move in condition.

Key facts

• Double wide
• Open yard
• Dead end road

Tags

• DOUBLE WIDE
• OPEN YARD
• DEAD END ROAD
• QUIET SURROUNDINGS
• MOVE IN CONDITION

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $149k.

Deal economics

• At list price, monthly cash flow is $423 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $149k).
• Recommended offer: $140k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.7% vs local median 2.2% in Lakehills — 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 (#963 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: amenities F, commute F, health & safety F.
• Bandera ISD (rural): math 30% / reading 41% proficiency, ranked #500 of 826 in TX (top 60%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Hill Country El (math 47% / reading 46%, grade D-, #1,080 of 4,322 statewide, top 25%, 483 students, 62% FRL); Bandera Middle (math 26% / reading 40%, grade F, #930 of 1,662 statewide, top 57%, 555 students, 56% FRL); Bandera H S (math 22% / reading 46%, grade F, #1,002 of 1,632 statewide, top 62%, 713 students, 48% FRL).
• Market conditions: 271 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 6 units permitted in Bandera County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 69 days — a 6% lower offer ($140k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 17y ago 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: major wind risk, 62% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $140,060 (6.0% below list)

Questions for the listing agent

1. It's been on market 69 days. Have you received any prior offers? Is the seller open to a 6% 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. 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?
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: 1.18% ✓
• Cap rate: 9.70%
• Cash-on-cash: 12.16%
• DSCR: 1.54
• GRM: 7.1

CMA / ARV

• ARV (median comp): $332,474
• List price: $149,000
• Delta: -55.18%
• Verdict: UNDERPRICED
• Comps: 18 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
373 Laurel Vis	0.42mi	3/2.0	1,792 (+7%)	13mo	$199,999	$112	58

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 1.7%
• Equity multiple: 1.07×
• Total profit: $2,768
• Equity at exit: $22,216

10-year hold

• IRR: 11.3%
• Equity multiple: 1.89×
• Total profit: $37,034
• Equity at exit: $12,883

Cash invested: $41,720 (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 78063

• Home prices YoY: -31.6%
• Active inventory: 271
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,761 medium
• Mortgage (P&I): −$781
• Tax from tax record: −$125 /mo · $1,499/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$370
• Net cashflow: $423

Break-even live

Break-even rent $1,226

Max offer price $149,000

Occupancy floor 71%

Sensitivity live

Price	-10% $507	-5% $465	+0% $423	+5% $381	+10% $338
Rent	-10% $284	-5% $353	+0% $423	+5% $492	+10% $562
Rate	-1.0pp $498	-0.5pp $461	base $423	+0.5pp $384	+1.0pp $345

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: $37,250
• Closing costs: $4,470
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
182 Laurel Ridge Dr Pipe Creek, TX	3.0	2.0	1780	$1,600	$0.90	17d	1	0.28mi
200 Scenic Crst Lakehills, TX	3.0	2.5	2193	$2,300	$1.05	1d	1	0.56mi
10685 Park Road 37 Unit D Lakehills, TX	3.0	2.0	1216	$1,025	$0.84	17d	1	1.08mi
368 Northlake Dr Lakehills, TX	3.0	2.0	1680	$2,200	$1.31	5d	1	1.47mi

Listing history 19 events

1. 2026-06-21
   days on market $149,000 Active 69 DOM
2. 2026-06-18
   days on market $149,000 Active 66 DOM
3. 2026-06-17
   days on market $149,000 Active 65 DOM
4. 2026-06-16
   days on market $149,000 Active 64 DOM
5. 2026-06-15
   days on market $149,000 Active 63 DOM
6. 2026-06-13
   days on market $149,000 Active 61 DOM
7. 2026-06-09
   days on market $149,000 Active 57 DOM
8. 2026-06-07
   days on market $149,000 Active 55 DOM
9. 2026-06-04
   days on market $149,000 Active 52 DOM
10. 2026-06-03
    days on market $149,000 Active 51 DOM
11. 2026-06-02
    statusdays on market $149,000 Active 50 DOM
12. 2026-06-01
    days on market $149,000 Price Change 49 DOM
13. 2026-05-31
    days on market $149,000 Price Change 48 DOM
14. 2026-04-13
    listed $155,000 New 206-char remark

    Show marketing remark (206 chars)

    Nice Double wide on over an acre with a nice sized garage. 3 bedroom 2 full bath open yard on a dead end road with a quiet surroundings. House does need some work but is manageable and in move in condition.

15. 2010-02-25
    soldstatus 293-char remark

    Show marketing remark (293 chars)

    Foreclosure on 1.068 Acres. This would be a very nice home for someone who is a "handy man". Nice covered back porch and a covered carport with storage. Beautiful lot with many oak trees. *Lender owned, seller will make no repairs, home sold as is and exempt from sellers disclosure.

16. 2010-01-11
    historical 293-char remark

    Show marketing remark (293 chars)

    Foreclosure on 1.068 Acres. This would be a very nice home for someone who is a "handy man". Nice covered back porch and a covered carport with storage. Beautiful lot with many oak trees. *Lender owned, seller will make no repairs, home sold as is and exempt from sellers disclosure.

17. 2009-10-17
    listed $46,000 293-char remark

    Show marketing remark (293 chars)

    Foreclosure on 1.068 Acres. This would be a very nice home for someone who is a "handy man". Nice covered back porch and a covered carport with storage. Beautiful lot with many oak trees. *Lender owned, seller will make no repairs, home sold as is and exempt from sellers disclosure.

18. 2009-06-02
    historical
19. 2009-02-20
    listed $47,700

ⓘ 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: $1,499 · $125/mo
• Projected year-2 tax: $2,727 · $227/mo
• Expected delta: +$1,227/yr (+$102/mo · 81.9%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥106°F today · 22 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 62% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,131
• − Mortgage interest: −$8,346
• − Property taxes: −$1,499
• − Insurance: −$745
• − Repairs & maintenance: −$1,690
• − Management: −$1,690
• − Depreciation: −$4,335
• Taxable income: $2,825
• Est. tax owed @ 24.0%: −$678
• After-tax cash flow: $4,395/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: Bandera ISD
• NCES district ID: 4809360
• Math proficiency: 30% ▼ -7.00%
• Reading proficiency: 41% ▼ -3.00%
• Median HH income: $48,771
• Composite: 30.61/100
• National rank: #6194
• State rank: #500 of 826 in TX

Livability — Lakehills

• Score: 62/100
• State rank: #963
• US rank: #17024

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lakehills, TX
• City population: 10,594
• Population (ZIP): 10,594

Population outlook (Bandera County) Hauer SSP2

• Today (2025): 22,614 people
• By 2030: 23,102 · +2.2%
• By 2040: 23,489 · +3.9%
• By 2050: 23,264 · +2.9%
• By 2075: 23,607 · +4.4%
• By 2100: 22,265 · -1.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Hispanic / Latino 18% Two or more races 15%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Slovak 5% Romanian 3% Serbian 2%
• Foreign-born: 5% · Canada
• Languages at home: 88% English-only · Spanish 9% German/W. Germanic 2%

Political lean MEDSL · Bandera

• 2024 margin: Solid R (+61.9) · D 18.6% · R 80.5%
• 2008→2024 swing: -11.5pp toward R · 2008: -50.4pp · 2024: -61.9pp
• All cycles: 2024: R+61.9 2020: R+59.4 2016: R+63.0 2012: R+59.0 2008: R+50.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -87.38%
• Current HPI: 189.1086
• 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

+224.9% since first listed

6 events — show timeline

• 2026-04-13 Listed $155,000 LERA
• 2010-02-25 Sold (MLS) — LERA
• 2010-01-11 Listing Removed — LERA
• 2009-10-17 Listed $46,000 LERA
• 2009-06-02 Listing Removed — LERA
• 2009-02-20 Listed $47,700 LERA

Property tax history

+1.4%/yr

Latest (2025): $1,499 · +11.1% YoY. Source: county tax records.