302 Phillip · Wharton, TX 77488

$125,000

3 bd · 2.0 ba · 1,216 sqft · Manufactured public records · 21 Days on market

Built 2016

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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 +27.0/30.0
• DSCR +9.3/10.0
• ARV discount +7.5/15.0
• 1% rule +6.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

If you are looking for Country living then look no more! This property is conveniently located just outside of town with easy access to Interstate 69 omly 40 minutes outside of Houston and only 22 minutes from Richmond / Rosenberg Texas. Sitting on a half acre of Peace and Quiet ! Added on in the back is a spacious covered patio deck with a ramp added for easy access and is handicap friendly . This Mobile Home is Clean and Neat ! Spacious Living and Dinning areas allow for great entertainment or simply comfortable living! A garden spot awaits with a fenced in Garden area .

Key facts

• Covered patio deck
• Parking
• Built 2016

Tags

• COVERED PATIO DECK
• FENCED IN GARDEN AREA

Property features AI

Finance

• Other: Lease not considered

Exterior

• Parking: Driveway parking
• Security: Smoke detectors
• Utilities: Well water; Septic tank
• Home design: Residential property; Faces north; Entry on slab foundation; Built in 2016
• Construction: Aluminum siding; Composition roof; Slab foundation
• Exterior features: Covered patio; Patio and deck; Paved driveway; Private yard; Back yard fence; Handicap accessible

Interior

• Kitchen: Dishwasher; Electric cooktop; Electric oven; Microwave; Disposal; Refrigerator
• Bedrooms: 5 total rooms (includes bedrooms and living spaces)
• Flooring: Plank flooring; Vinyl flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air (electric)
• Interior features: Breakfast bar; Double vanity; Kitchen/family room combo; Pantry; Soaking tub; Separate shower; Tub with shower; Ceiling fans; Living/dining room; Handicap access; Accessible approach with ramp
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $125k.

Deal economics

• At list price, monthly cash flow is $-78 ($-931/yr) — negative.
• To cash-flow at today's rent, offer at most $111k (11.0% below list).
• Meets the 1% rule at list price ($1k rent vs $125k).
• Recommended offer: $111k (11.0% below list) — sets the bar for cash-flow.
• Cap rate 9.6% vs local median 3.2% in Wharton — 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 65/100 on livability (#693 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B; Watch: crime C-, amenities F, commute F.
• Wharton ISD (town): math 28% / reading 31% proficiency, ranked #651 of 826 in TX (top 79%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Wharton El (math 22% / reading 25%, grade F, #3,247 of 4,322 statewide, top 76%, 476 students, 77% FRL); Wharton J H (math 32% / reading 32%, grade F, #971 of 1,662 statewide, top 60%, 369 students, 77% FRL); Wharton H S (math 32% / reading 37%, grade F, #963 of 1,632 statewide, top 61%, 570 students, 74% FRL).
• Market conditions: 164 active listings in the ZIP; 191 units permitted in Wharton County in 2024 (45 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($123k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% 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 $111,297 (11.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.13% ✓
• Cap rate: 9.64%
• Cash-on-cash: 11.96%
• DSCR: 1.53
• GRM: 7.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -20.5%
• Equity multiple: 0.29×
• Total profit: $-24,973
• Equity at exit: $18,638

10-year hold

• IRR: -13.2%
• Equity multiple: 0.22×
• Total profit: $-27,200
• Equity at exit: $10,808

Cash invested: $35,000 (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 77488

• Home prices YoY: -25.3%
• Active inventory: 164
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,411 medium
• Mortgage (P&I): −$656
• Tax from tax record: −$58 /mo · $700/yr
• Insurance: −$52
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$296
• Net cashflow: $-78

Break-even live

Break-even rent $1,510

Max offer price $111,297

Occupancy floor —

Sensitivity live

Price	-10% $-7	-5% $-42	+0% $-78	+5% $-113	+10% $-148
Rent	-10% $-189	-5% $-133	+0% $-78	+5% $-22	+10% $34
Rate	-1.0pp $-15	-0.5pp $-46	base $-78	+0.5pp $-110	+1.0pp $-143

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-19
   days on market $125,000 Active 21 DOM
2. 2026-06-18
   days on market $125,000 Active 20 DOM
3. 2026-06-17
   days on market $125,000 Active 19 DOM
4. 2026-06-16
   days on market $125,000 Active 18 DOM
5. 2026-06-15
   days on market $125,000 Active 17 DOM
6. 2026-06-14
   days on market $125,000 Active 15 DOM
7. 2026-06-12
   days on market $125,000 Active 14 DOM
8. 2026-06-09
   days on market $125,000 Active 11 DOM
9. 2026-06-08
   days on market $125,000 Active 10 DOM
10. 2026-06-07
    days on market $125,000 Active 9 DOM
11. 2026-06-07
    days on market $125,000 Active 8 DOM
12. 2026-06-02
    days on market $125,000 Active 4 DOM
13. 2026-06-01
    days on market $125,000 Active 3 DOM
14. 2026-05-31
    days on market $125,000 Active 2 DOM
15. 2026-05-29
    listed $125,000 Active

ⓘ 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: $700 · $58/mo
• Projected year-2 tax: $2,288 · $191/mo
• Expected delta: +$1,587/yr (+$132/mo · 226.6%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone AE · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥111°F today · 22 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% 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: $16,936
• − Mortgage interest: −$7,002
• − Property taxes: −$700
• − Insurance: −$5,744
• − Repairs & maintenance: −$1,355
• − Management: −$1,355
• − Depreciation: −$3,636
• Taxable loss: −$2,856
• Est. tax savings @ 24.0%: +$685
• After-tax cash flow: $-245/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: Wharton ISD
• NCES district ID: 4845380
• Math proficiency: 28% ▼ -3.00%
• Reading proficiency: 31% ▬ 0.00%
• Median HH income: $38,558
• Composite: 24.69/100
• National rank: #7617
• State rank: #651 of 826 in TX

Livability — Wharton

• Score: 65/100
• State rank: #693
• US rank: #12966

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 14,129

Population outlook (Wharton County) Hauer SSP2

• Today (2025): 42,448 people
• By 2030: 42,726 · +0.7%
• By 2040: 43,042 · +1.4%
• By 2050: 43,368 · +2.2%
• By 2075: 44,962 · +5.9%
• By 2100: 44,510 · +4.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: Hispanic / Latino 38% White 36% Black 22% Two or more races 15% Asian 1%
• Hispanic origin (detail): Mexican 33% Puerto Rican 1%
• Common ancestry: Scottish 2% Danish 2% Serbian 2%
• Foreign-born: 7% · Canada
• Languages at home: 81% English-only · Spanish 17% Other Indo-European 1%

Political lean MEDSL · Wharton

• 2024 margin: Solid R (+51.8) · D 23.8% · R 75.6%
• 2008→2024 swing: -20.7pp toward R · 2008: -31.2pp · 2024: -51.8pp
• All cycles: 2024: R+51.8 2020: R+43.1 2016: R+40.2 2012: R+39.1 2008: R+31.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -63.29%
• Current HPI: 186.7798
• 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

1 event — show timeline

• 2026-05-29 Listed $125,000 HARMLS

Property tax history

+2.2%/yr

Latest (2025): $700 · -6.3% YoY. Source: county tax records.