160 Tupelo S

Blessing, TX 77465

$89,900C

2 bd · 1.0 ba · 756 sqft · Built 1984 · Manufactured · Active · 91 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $959/mo
• Mortgage (P&I): −$471
• Tax + insurance: −$69
• HOA: −$10
• Vac / Maint / Mgmt: −$201
• Net cashflow: $208/mo
• Annual: $2,492/yr
• Cap rate: 9.06%
• Cash-on-cash: 9.90%
• DSCR: 1.44
• 1% rule: 1.07%
• Cash to close: $25,172

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $90k.
• At list price, monthly cash flow is $208 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($959 rent vs $90k).
• It's been on market 91 days — a 9% lower offer ($82k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $82k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 54/100 on livability (#1,386 in TX) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: housing C-, health & safety C-, schools F.
• Palacios ISD (town): math 42% / reading 38% proficiency, ranked #427 of 826 in TX (top 52%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 432 active listings in the ZIP; 153 units permitted in Matagorda County in 2024 (0 in 5+ unit buildings).
• 3 sale attempts; this cycle's ask has dropped $10k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/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 91 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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.