11603 Elizabeth Dr · Socorro, TX 79927

$120,000

3 bd · 1.0 ba · 812 sqft · Manufactured · 72 Days on market

Built 1999 7,588 sqft lot ↓ 19% since listing

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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 +29.1/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +6.9/10.0
• Appreciation +4.5/10.0
• Rent growth +3.8/5.0
• Livability +3.2/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0

Listing remarks MLS

Opportunity knocks! 3 bedrooms, 1 full bath. This manufactured home can be your started home.

Key facts

• 7,588 sq ft lot
• Built 1999
• Listed 71 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath manufactured listed at $120k.

Deal economics

• At list price, monthly cash flow is $413 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $113k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#830 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• 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.
• Market conditions: Rents rising fast (+5.3%/yr); 219 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 2,196 units permitted in El Paso County in 2024 (143 in 5+ unit buildings).
• This rent runs 32% of the median local income ($54k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-0.9%/yr); year-one equity from $830 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• El Paso County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-0.9% appreciation + 5.3% rent growth), your $34k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 72 days — a 6% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $15k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $112,800 (6.0% below list)

Questions for the listing agent

1. It's been on market 72 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 F-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: 1.19% ✓
• Cap rate: 10.42%
• Cash-on-cash: 14.75%
• DSCR: 1.66
• GRM: 7.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-0.93% appreciation · 5.29% rent growth · sell at horizon

5-year hold

• IRR: 13.5%
• Equity multiple: 1.62×
• Total profit: $20,953
• Equity at exit: $29,349

10-year hold

• IRR: 20.8%
• Equity multiple: 3.28×
• Total profit: $76,555
• Equity at exit: $31,146

Cash invested: $33,600 (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 79927

• Home prices YoY: -0.4%
• Rents YoY: 5.3%
• Active inventory: 219
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,429 high
• Mortgage (P&I): −$629
• Tax from tax record: −$36 /mo · $437/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$300
• Net cashflow: $413

Break-even live

Break-even rent $906

Max offer price $120,000

Occupancy floor 66%

Sensitivity live

Price	-10% $481	-5% $447	+0% $413	+5% $379	+10% $345
Rent	-10% $300	-5% $357	+0% $413	+5% $470	+10% $526
Rate	-1.0pp $474	-0.5pp $444	base $413	+0.5pp $382	+1.0pp $350

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1124 Colina de Oro St El Paso, TX	3.0	2.0	1096	$1,450	$1.32	11d	1	0.75mi
780 Clems Rd Socorro, TX	2.0–3.0	1.0–2.0	963	$1,200	$1.25	3d	3	1.08mi
780 Clems Rd Unit 1 Socorro, TX	3.0	1.0	920	$1,200	$1.30	24d	1	1.08mi
780 Clems Rd Unit 7 Socorro, TX	2.0	2.0	1021	$1,200	$1.18	24d	1	1.08mi
780 Clems Rd Unit 2 Socorro, TX	3.0	2.0	906	$1,200	$1.32	24d	1	1.08mi
1368 Reid Rd Unit B Socorro, TX	2.0	1.0	800	$925	$1.16	15d	1	1.18mi

Listing history 22 events

1. 2026-06-18
   days on market $120,000 Active 72 DOM
2. 2026-06-17
   days on market $120,000 Active 71 DOM
3. 2026-06-16
   days on market $120,000 Active 70 DOM
4. 2026-06-15
   days on market $120,000 Active 69 DOM
5. 2026-06-13
   days on market $120,000 Active 67 DOM
6. 2026-06-10
   days on market $120,000 Active 64 DOM
7. 2026-06-09
   days on market $120,000 Active 63 DOM
8. 2026-06-08
   days on market $120,000 Active 62 DOM
9. 2026-06-07
   days on market $120,000 Active 61 DOM
10. 2026-06-05
    days on market $120,000 Active 58 DOM
11. 2026-06-03
    days on market $120,000 Active 57 DOM
12. 2026-06-03
    days on market $120,000 Active 56 DOM
13. 2026-06-01
    pricedays on market $120,000 Active 55 DOM
14. 2026-05-31
    days on market $128,000 Active 54 DOM
15. 2026-04-30
    price $128,000 94-char remark

    Show marketing remark (94 chars)

    Opportunity knocks! 3 bedrooms, 1 full bath. This manufactured home can be your started home.

16. 2026-04-07
    listed $135,000 Active 94-char remark

    Show marketing remark (94 chars)

    Opportunity knocks! 3 bedrooms, 1 full bath. This manufactured home can be your started home.

17. 2025-12-31
    historical
18. 2025-05-25
    listed $159,000 Active
19. 2020-01-02
    soldstatus
20. 2001-02-01
    soldstatus
21. 1998-01-27
    soldstatus
22. 1997-09-12
    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: $437 · $36/mo
• Projected year-2 tax: $2,196 · $183/mo
• Expected delta: +$1,759/yr (+$147/mo · 402.6%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥101°F today · 26 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,146
• − Mortgage interest: −$6,722
• − Property taxes: −$437
• − Insurance: −$600
• − Repairs & maintenance: −$1,372
• − Management: −$1,372
• − Depreciation: −$3,491
• Taxable income: $3,153
• Est. tax owed @ 24.0%: −$757
• After-tax cash flow: $4,200/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: Socorro ISD
• NCES district ID: 4840710
• Math proficiency: 23% ▼ -34.00%
• Reading proficiency: 36% ▼ -14.00%
• Median HH income: $49,318
• Composite: 25.67/100
• National rank: #7396
• State rank: #624 of 826 in TX

Livability — Socorro

• Score: 63/100
• State rank: #830
• US rank: #14960

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: El Paso County · 761,266 people
• City population: 44,444
• Metro: El Paso, TX
• Population (ZIP): 44,444
• Household income: $53,652
• Rent vs Own: 19.2% rent · 80.8% own
• Severe rent burden: 732.0

Population outlook (El Paso County) Hauer SSP2

• Today (2025): 897,899 people
• By 2030: 922,694 · +2.8%
• By 2040: 960,492 · +7.0%
• By 2050: 982,919 · +9.5%
• By 2075: 997,266 · +11.1%
• By 2100: 900,630 · +0.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (97%)
• Race & ethnicity: Hispanic / Latino 97% Two or more races 39% Native American 2% White 2%
• Hispanic origin (detail): Mexican 94%
• Foreign-born: 34% · Canada
• Languages at home: 16% English-only · Spanish 84%

Political lean MEDSL · El Paso

• 2024 margin: D (+15.1) · D 57.0% · R 41.8% · Other 1.2%
• 2008→2024 swing: -17.4pp toward R · 2008: 32.5pp · 2024: 15.1pp
• All cycles: 2024: D+15.1 2020: D+35.1 2016: D+43.2 2012: D+32.6 2008: D+32.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -0.93%
• Current HPI: 239.646
• Rent YoY: ▲ 5.29%
• Metro: El Paso, TX
• 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

-19.5% since first listed

8 events — show timeline

• 2026-04-30 Price Changed $128,000 GEPARMLS
• 2026-04-07 Listed $135,000 GEPARMLS
• 2025-12-31 Listing Removed — GEPARMLS
• 2025-05-25 Listed $159,000 GEPARMLS
• 2020-01-02 Sold (Public Records) — Public Records
• 2001-02-01 Sold (Public Records) — Public Records
• 1998-01-27 Sold (Public Records) — Public Records
• 1997-09-12 Sold (Public Records) — Public Records

Property tax history

+21.8%/yr

Latest (2025): $437 · -1.5% YoY. Source: county tax records.