600 E Nelson St · Bowie, TX 76230

$82,500

2 bd · 2.0 ba · 1,088 sqft · Manufactured public records · 111 Days on market

Built 1990 6,447 sqft lot $76/sqft · 47% below area Est $155k · 47% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +3.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This property offers an affordable housing opportunity in a desirable neighborhood. The home is an older mobile unit that has undergone ongoing renovations since the current owner's acquisition. Quality appliances are included with the sale. Additional features include a spacious carport, storage shed, and a partially fenced backyard. While some repairs are needed, the property will be sold as is.

Key facts

• Quality appliances
• Storage shed
• Spacious carport

Tags

• ONGOING RENOVATIONS
• QUALITY APPLIANCES
• SPACIOUS CARPORT
• STORAGE SHED
• PARTIALLY FENCED BACKYARD

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $82k.

Deal economics

• At list price, monthly cash flow is $460 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $82k).
• Recommended offer: $75k (9.0% below list) — sets the bar for market timing.
• Cap rate 13.0% vs local median 3.1% in Bowie — 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 64/100 on livability (#796 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, schools D, amenities F.
• Bowie ISD (town): math 34% / reading 41% proficiency, ranked #469 of 826 in TX (top 57%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 238 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); 23 units permitted in Montague County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $570 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Montague County population projected at -15% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $23k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 111 days — a 9% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y 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 wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $75,075 (9.0% below list)

Questions for the listing agent

1. It's been on market 111 days. Have you received any prior offers? Is the seller open to a 9% 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: 1.50% ✓
• Cap rate: 12.99%
• Cash-on-cash: 23.92%
• DSCR: 2.06
• GRM: 5.6

CMA / ARV

• ARV (median comp): $155,436
• List price: $82,500
• Delta: -46.92%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 17.1%
• Equity multiple: 1.69×
• Total profit: $15,943
• Equity at exit: $12,301

10-year hold

• IRR: 25.6%
• Equity multiple: 3.23×
• Total profit: $51,585
• Equity at exit: $7,133

Cash invested: $23,100 (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 76230

• Home prices YoY: -27.1%
• Active inventory: 238
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,236 high
• Mortgage (P&I): −$433
• Tax from tax record: −$49 /mo · $592/yr
• Insurance: −$34
• HOA: −$0
• Vacancy / Maint / Mgmt: −$260
• Net cashflow: $460

Break-even live

Break-even rent $654

Max offer price $82,500

Occupancy floor 58%

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: $20,625
• Closing costs: $2,475
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
903 N Lamb St Bowie, TX	3.0	1.0	1269	$1,450	$1.14	1d	1	0.21mi
418 Elba St Bowie, TX	3.0	2.0	1200	$1,400	$1.17	1d	1	0.30mi
1003 Rock St Unit 7 Bowie, TX	2.0	1.0	900	$950	$1.06	10d	1	0.31mi
106 E Nelson St Unit A Bowie, TX	1.0	1.0	1216	$875	$0.72	13d	1	0.47mi
911 U.S. 81 Unit D Bowie, TX	3.0	2.0	1200	$1,350	$1.12	1d	1	1.27mi

Listing history 25 events

1. 2026-06-18
   days on market $82,500 Active 111 DOM
2. 2026-06-17
   days on market $82,500 Active 110 DOM
3. 2026-06-16
   days on market $82,500 Active 109 DOM
4. 2026-06-15
   days on market $82,500 Active 108 DOM
5. 2026-06-13
   days on market $82,500 Active 106 DOM
6. 2026-06-12
   days on market $82,500 Active 105 DOM
7. 2026-06-09
   days on market $82,500 Active 102 DOM
8. 2026-06-08
   days on market $82,500 Active 101 DOM
9. 2026-06-08
   days on market $82,500 Active 100 DOM
10. 2026-06-07
    days on market $82,500 Active 99 DOM
11. 2026-06-03
    days on market $82,500 Active 96 DOM
12. 2026-06-02
    days on market $82,500 Active 95 DOM
13. 2026-06-01
    days on market $82,500 Active 94 DOM
14. 2026-05-31
    days on market $82,500 Active 93 DOM
15. 2026-02-26
    listed $82,500 Active 400-char remark

    Show marketing remark (400 chars)

    This property offers an affordable housing opportunity in a desirable neighborhood. The home is an older mobile unit that has undergone ongoing renovations since the current owner's acquisition. Quality appliances are included with the sale. Additional features include a spacious carport, storage shed, and a partially fenced backyard. While some repairs are needed, the property will be sold as is.

16. 2021-06-24
    soldstatus
17. 2021-05-12
    soldstatus Sold 664-char remark

    Show marketing remark (664 chars)

    SELLER FINANCE. NO BANKS NEEDED. PRICE LISTED IS OWNER FINANCE PRICE. Monthly payments of approximately $800 per month. We would like 10% as down payment but not necessary. This is a great starter home. 2 bedroom 2 bathrooms with over 1000 square feet of living space in this recently remodeled mobile home. Roof was just re-sealed and coated for protection, new paint inside throughout, old trim around windows replaced and re sealed. Park the boat or RV under the 4 Car Carport. There is an additional building in the back that can be used for storage, more covered parking, or turned into an income producing AirBNB. Lots of potential here and a great 1st home!

18. 2021-04-20
    status Pending 664-char remark

    Show marketing remark (664 chars)

    SELLER FINANCE. NO BANKS NEEDED. PRICE LISTED IS OWNER FINANCE PRICE. Monthly payments of approximately $800 per month. We would like 10% as down payment but not necessary. This is a great starter home. 2 bedroom 2 bathrooms with over 1000 square feet of living space in this recently remodeled mobile home. Roof was just re-sealed and coated for protection, new paint inside throughout, old trim around windows replaced and re sealed. Park the boat or RV under the 4 Car Carport. There is an additional building in the back that can be used for storage, more covered parking, or turned into an income producing AirBNB. Lots of potential here and a great 1st home!

19. 2021-03-26
    listed $69,000 Active 664-char remark

    Show marketing remark (664 chars)

    SELLER FINANCE. NO BANKS NEEDED. PRICE LISTED IS OWNER FINANCE PRICE. Monthly payments of approximately $800 per month. We would like 10% as down payment but not necessary. This is a great starter home. 2 bedroom 2 bathrooms with over 1000 square feet of living space in this recently remodeled mobile home. Roof was just re-sealed and coated for protection, new paint inside throughout, old trim around windows replaced and re sealed. Park the boat or RV under the 4 Car Carport. There is an additional building in the back that can be used for storage, more covered parking, or turned into an income producing AirBNB. Lots of potential here and a great 1st home!

20. 2020-11-10
    soldstatus
21. 2019-09-27
    soldstatus
22. 2010-11-08
    soldstatus
23. 2004-04-16
    soldstatus
24. 2003-10-01
    soldstatus
25. 1999-10-14
    soldstatus

ⓘ 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: $592 · $49/mo
• Projected year-2 tax: $1,510 · $126/mo
• Expected delta: +$918/yr (+$76/mo · 155.0%)

ⓘ 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 6/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 10% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,837
• − Mortgage interest: −$4,621
• − Property taxes: −$592
• − Insurance: −$412
• − Repairs & maintenance: −$1,187
• − Management: −$1,187
• − Depreciation: −$2,400
• Taxable income: $4,438
• Est. tax owed @ 24.0%: −$1,065
• After-tax cash flow: $4,460/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: Bowie ISD
• NCES district ID: 4810990
• Math proficiency: 34% ▼ -8.00%
• Reading proficiency: 41% ▼ -2.00%
• Median HH income: $45,720
• Composite: 31.99/100
• National rank: #5836
• State rank: #469 of 826 in TX

Livability — Bowie

• Score: 64/100
• State rank: #796
• US rank: #14499

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bowie, TX
• Population (ZIP): 9,885

Population outlook (Montague County) Hauer SSP2

• Today (2025): 18,216 people
• By 2030: 17,603 · -3.4%
• By 2040: 16,451 · -9.7%
• By 2050: 15,424 · -15.3%
• By 2075: 13,365 · -26.6%
• By 2100: 10,998 · -39.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Hispanic / Latino 12% Two or more races 7%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Serbian 2% Romanian 2% Slovak 1%
• Foreign-born: 4% · Canada
• Languages at home: 89% English-only · Spanish 10% Other Indo-European 1%

Political lean MEDSL · Montague

• 2024 margin: Solid R (+77.7) · D 10.9% · R 88.5%
• 2008→2024 swing: -19.2pp toward R · 2008: -58.5pp · 2024: -77.7pp
• All cycles: 2024: R+77.7 2020: R+76.6 2016: R+77.2 2012: R+70.1 2008: R+58.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -75.69%
• Current HPI: 204.0919
• 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

+19.6% since first listed

11 events — show timeline

• 2026-02-26 Listed $82,500 NTREIS
• 2021-06-24 Sold (Public Records) — Public Records
• 2021-05-12 Sold (MLS) — NTREIS
• 2021-04-20 Pending — NTREIS
• 2021-03-26 Listed $69,000 NTREIS
• 2020-11-10 Sold (Public Records) — Public Records
• 2019-09-27 Sold (Public Records) — Public Records
• 2010-11-08 Sold (Public Records) — Public Records
• 2004-04-16 Sold (Public Records) — Public Records
• 2003-10-01 Sold (Public Records) — Public Records
• 1999-10-14 Sold (Public Records) — Public Records

Property tax history

+2.1%/yr

Latest (2025): $592 · +0.0% YoY. Source: county tax records.