200 Brookwood Dr · Callender Lake, TX 75778

$109,900

3 bd · 2.0 ba · 1,456 sqft · Manufactured public records · 130 Days on market

Built 1998 0.36 ac lot $75/sqft · 56% below area $58/mo HOA · 4% of rent

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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 +26.9/30.0
• DSCR +9.3/10.0
• ARV discount +7.5/15.0
• Appreciation +7.3/10.0
• 1% rule +7.0/10.0
• Schools +3.7/10.0
• Livability +2.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Discover the perfect getaway in this charming waterview vacation home, ideally located within a private, gated community. Set on two spacious lots, this 3-bedroom, 2-bath retreat offers a rare blend of privacy, comfort, and scenic surroundings—ideal for relaxing weekends or memorable gatherings with family and friends. The thoughtfully designed layout features light-filled living spaces that flow effortlessly, creating a welcoming atmosphere throughout. Outdoor space provides endless opportunities for entertaining, recreation, or future enhancements. Whether you’re seeking a serene second home, a vacation rental opportunity, or a full-time residence, this property delivers exceptional versatility in a community setting. A unique opportunity to own a waterview escape where every day feels like a retreat.

Key facts

• Two spacious lots
• Outdoor space
• 0.36 acre lot

Tags

• PRIVATE GATED COMMUNITY
• TWO SPACIOUS LOTS
• LIGHT FILLED LIVING SPACES
• OUTDOOR SPACE
• VACATION RENTAL OPPORTUNITY

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $110k.

Deal economics

• At list price, monthly cash flow is $304 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $97k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.6% vs local median 3.2% in Callender Lake — 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 52/100 on livability (#1,447 in TX) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: schools F, amenities F, commute F.
• Brownsboro ISD (rural): math 42% / reading 46% proficiency, ranked #290 of 826 in TX (top 35%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 109 active listings in the ZIP; 54 units permitted in Van Zandt County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($760 loan paydown + $5k appreciation (4.6% local appreciation)).
• Van Zandt County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (4.6% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 130 days — a 12% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 9y ago; this cycle's ask has dropped $10k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $96,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 130 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.20% ✓
• Cap rate: 9.61%
• Cash-on-cash: 11.86%
• DSCR: 1.53
• GRM: 7.0

CMA / ARV

• ARV (median comp): $249,457
• List price: $109,900
• Delta: -55.94%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
180 Sweetgum Trl	0.19mi	3/2.0	1,440 (-1%)	22mo	$245,000	$170	71
782 Dogwood Trl	0.25mi	3/2.0	1,288 (-12%)	11mo	$260,000	$202	60
1185 Hickory Hills Dr	0.19mi	4/2.0 (+1)	1,664 (+14%)	21mo	$140,000	$84	45
253 E Walnut Trl	0.64mi	3/2.0	1,344 (-8%)	22mo	$84,000	$63	39

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

4.59% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 22.2%
• Equity multiple: 2.37×
• Total profit: $42,157
• Equity at exit: $59,561

10-year hold

• IRR: 22.0%
• Equity multiple: 4.64×
• Total profit: $111,988
• Equity at exit: $100,614

Cash invested: $30,772 (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 75778

• Home prices YoY: 2.2%
• Active inventory: 109
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,317 medium
• Mortgage (P&I): −$576
• Tax from tax record: −$56 /mo · $673/yr
• Insurance: −$46
• HOA: −$58
• Vacancy / Maint / Mgmt: −$277
• Net cashflow: $304

Break-even live

Break-even rent $932

Max offer price $109,900

Occupancy floor 72%

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $58 · $696/yr
• Likely covers: watersecurity

Listing history 21 events

1. 2026-06-19
   days on market $109,900 Active 130 DOM
2. 2026-06-18
   days on market $109,900 Active 129 DOM
3. 2026-06-17
   days on market $109,900 Active 128 DOM
4. 2026-06-16
   days on market $109,900 Active 127 DOM
5. 2026-06-15
   days on market $109,900 Active 126 DOM
6. 2026-06-14
   days on market $109,900 Active 124 DOM
7. 2026-06-13
   days on market $109,900 Active 123 DOM
8. 2026-06-10
   days on market $109,900 Active 121 DOM
9. 2026-06-09
   days on market $109,900 Active 120 DOM
10. 2026-06-08
    days on market $109,900 Active 119 DOM
11. 2026-06-07
    days on market $109,900 Active 118 DOM
12. 2026-06-02
    days on market $109,900 Active 113 DOM
13. 2026-06-01
    days on market $109,900 Active 112 DOM
14. 2026-05-31
    days on market $109,900 Active 111 DOM
15. 2026-05-30
    days on market $109,900 Active 110 DOM
16. 2026-05-13
    price $109,900 826-char remark

    Show marketing remark (826 chars)

    Discover the perfect getaway in this charming waterview vacation home, ideally located within a private, gated community. Set on two spacious lots, this 3-bedroom, 2-bath retreat offers a rare blend of privacy, comfort, and scenic surroundings—ideal for relaxing weekends or memorable gatherings with family and friends. The thoughtfully designed layout features light-filled living spaces that flow effortlessly, creating a welcoming atmosphere throughout. Outdoor space provides endless opportunities for entertaining, recreation, or future enhancements. Whether you’re seeking a serene second home, a vacation rental opportunity, or a full-time residence, this property delivers exceptional versatility in a community setting. A unique opportunity to own a waterview escape where every day feels like a retreat.

17. 2026-02-09
    listed $119,900 Active 826-char remark

    Show marketing remark (826 chars)

    Discover the perfect getaway in this charming waterview vacation home, ideally located within a private, gated community. Set on two spacious lots, this 3-bedroom, 2-bath retreat offers a rare blend of privacy, comfort, and scenic surroundings—ideal for relaxing weekends or memorable gatherings with family and friends. The thoughtfully designed layout features light-filled living spaces that flow effortlessly, creating a welcoming atmosphere throughout. Outdoor space provides endless opportunities for entertaining, recreation, or future enhancements. Whether you’re seeking a serene second home, a vacation rental opportunity, or a full-time residence, this property delivers exceptional versatility in a community setting. A unique opportunity to own a waterview escape where every day feels like a retreat.

18. 2018-11-19
    soldstatus 382-char remark

    Show marketing remark (382 chars)

    Nice 1998 Manufactured home with 3 bedrooms and 2 baths affixed permanently to two lots that have lake view. Home also comes with a hot tub located in nice building at side of house. The home would be perfect for a full time residence or weekend getaway. Home also has 80 sq. ft storage building for your use. Home is in gated community with great fishing, swimming, & boating.

19. 2018-11-19
    soldstatus

    Show marketing remark (382 chars)

    Nice 1998 Manufactured home with 3 bedrooms and 2 baths affixed permanently to two lots that have lake view. Home also comes with a hot tub located in nice building at side of house. The home would be perfect for a full time residence or weekend getaway. Home also has 80 sq. ft storage building for your use. Home is in gated community with great fishing, swimming, & boating.

20. 2018-10-29
    listed $79,500
21. 2017-12-03
    listed $79,500 382-char remark

    Show marketing remark (382 chars)

    Nice 1998 Manufactured home with 3 bedrooms and 2 baths affixed permanently to two lots that have lake view. Home also comes with a hot tub located in nice building at side of house. The home would be perfect for a full time residence or weekend getaway. Home also has 80 sq. ft storage building for your use. Home is in gated community with great fishing, swimming, & boating.

ⓘ 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: $673 · $56/mo
• Projected year-2 tax: $2,011 · $168/mo
• Expected delta: +$1,338/yr (+$111/mo · 198.7%)

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

Taxation est. · year 1

• Rental income: $15,804
• − Mortgage interest: −$6,156
• − Property taxes: −$673
• − Insurance: −$550
• − Repairs & maintenance: −$1,264
• − Management: −$1,264
• − HOA: −$696
• − Depreciation: −$3,197
• Taxable income: $2,004
• Est. tax owed @ 24.0%: −$481
• After-tax cash flow: $3,170/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: Brownsboro ISD
• NCES district ID: 4811640
• Math proficiency: 42% ▼ -5.00%
• Reading proficiency: 46% ▬ 0.00%
• Median HH income: $45,624
• Composite: 37.38/100
• National rank: #4429
• State rank: #290 of 826 in TX

Livability — Callender Lake

• Score: 52/100
• State rank: #1447
• US rank: #24766

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Callender Lake, TX
• Population (ZIP): 2,987

Population outlook (Van Zandt County) Hauer SSP2

• Today (2025): 55,634 people
• By 2030: 56,479 · +1.5%
• By 2040: 57,672 · +3.7%
• By 2050: 57,913 · +4.1%
• By 2075: 57,544 · +3.4%
• By 2100: 52,659 · -5.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Black 9% Two or more races 8% Hispanic / Latino 4%
• Common ancestry: Slovak 2% Portuguese 1% Serbian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 3%

Political lean MEDSL · Van Zandt

• 2024 margin: Solid R (+74.8) · D 12.3% · R 87.2%
• 2008→2024 swing: -19.8pp toward R · 2008: -55.1pp · 2024: -74.8pp
• All cycles: 2024: R+74.8 2020: R+72.1 2016: R+72.1 2012: R+66.6 2008: R+55.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.59%
• Current HPI: 216.4151
• 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

+38.2% since first listed

6 events — show timeline

• 2026-05-13 Price Changed $109,900 GTAR
• 2026-02-09 Listed $119,900 GTAR
• 2018-11-19 Sold (MLS) — GTAR
• 2018-11-19 Sold (MLS) — HCBOR
• 2018-10-29 Listed $79,500 GTAR
• 2017-12-03 Listed $79,500 HCBOR

Property tax history

+3.2%/yr

Latest (2018): $673 · +1.5% YoY. Source: county tax records.