0 Fritch Dr

Lake Meredith Estates, TX 79036

$44,999B-

2 bd · 1.0 ba · 876 sqft · Built 1970 · Manufactured · Active · 307 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $851/mo
• Mortgage (P&I): −$236
• Tax + insurance: −$75
• HOA: −$0
• Vac / Maint / Mgmt: −$179
• Net cashflow: $361/mo
• Annual: $4,336/yr
• Cap rate: 15.93%
• Cash-on-cash: 34.41%
• DSCR: 2.53
• 1% rule: 1.89%
• Cash to close: $12,600

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $45k.
• At list price, monthly cash flow is $361 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($851 rent vs $45k).
• It's been on market 307 days — a 12% lower offer ($40k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $40k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $311 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 61/100 on livability (#996 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A, housing B; Watch: amenities F, commute F, health & safety F.
• Sanford-Fritch ISD (town): math 36% / reading 43% proficiency, ranked #417 of 826 in TX (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Sanford-Fritch El (math 37% / reading 42%, grade F, #1,545 of 4,322 statewide, top 38%, 309 students, 54% FRL); Sanford-Fritch J H (math 42% / reading 42%, grade D-, #572 of 1,662 statewide, top 36%, 163 students, 50% FRL); Sanford-Fritch H S (math 24% / reading 57%, grade F, #795 of 1,632 statewide, top 49%, 216 students, 41% FRL).
• Market conditions: 41 active listings in the ZIP; 2 units permitted in Hutchinson County in 2024 (0 in 5+ unit buildings).
• 2 sale attempts since 9y 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~4 years — after that, you're playing with house money.
• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 7→18/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 307 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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 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?
• 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.