2538 State Highway 69 S · Greenville, TX 75402

$139,000

3 bd · 2.0 ba · 1,216 sqft · Manufactured public records · 92 Days on market

Built 1993 1.87 ac lot $114/sqft · at area comps Est $139k · at est. ↓ 20% 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.2/10.0
• ARV discount +7.5/15.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investment opportunity on approximately 1.8 acres on U.S. 69 in Greenville. The property is being evaluated primarily for land value and potential uses. Improvements include a 3 bedroom 2 bathroom mobile home currently on septic and a metal building with attached dog kennel runs. The layout provides space for storage, hobby use, or potential business applications depending on buyer needs. Convenient access to Greenville and surrounding areas makes this a versatile property with investment potential.

Key facts

• Hobby use
• Dog kennel runs
• Mobile home

Tags

• 1.8 ACRES
• MOBILE HOME
• METAL BUILDING
• DOG KENNEL RUNS
• STORAGE SPACE
• HOBBY USE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $139k.

Deal economics

• At list price, monthly cash flow is $563 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $139k).
• Recommended offer: $126k (9.0% below list) — sets the bar for market timing.
• Cap rate 11.2% vs local median 4.1% in Greenville — 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 77/100 on livability (#78 in TX, #2,719 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: employment D, schools D-, commute F.
• Greenville ISD (town): math 20% / reading 26% proficiency, ranked #743 of 826 in TX (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents soft (-1.0%/yr); 295 active listings in the ZIP; solid renter incomes; 1,289 units permitted in Hunt County in 2024 (527 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $961 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Hunt County population projected at +15% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $39k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 92 days — a 9% lower offer ($126k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $126,490 (9.0% below list)

Questions for the listing agent

1. It's been on market 92 days. Have you received any prior offers? Is the seller open to a 9% 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 D-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: 1.32% ✓
• Cap rate: 11.15%
• Cash-on-cash: 17.36%
• DSCR: 1.77
• GRM: 6.3

CMA / ARV

• ARV (median comp): $139,000
• List price: $139,000
• Delta: —
• Verdict: FAIR
• Comps: 5 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 5.4%
• Equity multiple: 1.20×
• Total profit: $7,937
• Equity at exit: $20,725

10-year hold

• IRR: 12.1%
• Equity multiple: 1.83×
• Total profit: $32,234
• Equity at exit: $12,018

Cash invested: $38,920 (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 75402

• Rents YoY: -1.0%
• Active inventory: 295
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,834 medium
• Mortgage (P&I): −$729
• Tax from tax record: −$99 /mo · $1,187/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$385
• Net cashflow: $563

Break-even live

Break-even rent $1,121

Max offer price $139,000

Occupancy floor 64%

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: $34,750
• Closing costs: $4,170
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-16
   days on market $139,000 Active 92 DOM
2. 2026-06-15
   days on market $139,000 Active 91 DOM
3. 2026-06-13
   days on market $139,000 Active 89 DOM
4. 2026-06-09
   days on market $139,000 Active 85 DOM
5. 2026-06-08
   days on market $139,000 Active 84 DOM
6. 2026-06-07
   days on market $139,000 Active 83 DOM
7. 2026-06-04
   days on market $139,000 Active 80 DOM
8. 2026-06-03
   days on market $139,000 Active 79 DOM
9. 2026-06-02
   days on market $139,000 Active 78 DOM
10. 2026-06-01
    days on market $139,000 Active 77 DOM
11. 2026-05-31
    days on market $139,000 Active 76 DOM
12. 2026-04-19
    price $140,000 504-char remark

    Show marketing remark (504 chars)

    Investment opportunity on approximately 1.8 acres on U.S. 69 in Greenville. The property is being evaluated primarily for land value and potential uses. Improvements include a 3 bedroom 2 bathroom mobile home currently on septic and a metal building with attached dog kennel runs. The layout provides space for storage, hobby use, or potential business applications depending on buyer needs. Convenient access to Greenville and surrounding areas makes this a versatile property with investment potential.

13. 2026-03-31
    price $159,000 504-char remark

    Show marketing remark (504 chars)

    Investment opportunity on approximately 1.8 acres on U.S. 69 in Greenville. The property is being evaluated primarily for land value and potential uses. Improvements include a 3 bedroom 2 bathroom mobile home currently on septic and a metal building with attached dog kennel runs. The layout provides space for storage, hobby use, or potential business applications depending on buyer needs. Convenient access to Greenville and surrounding areas makes this a versatile property with investment potential.

14. 2026-03-12
    listed $175,000 Active 504-char remark

    Show marketing remark (504 chars)

    Investment opportunity on approximately 1.8 acres on U.S. 69 in Greenville. The property is being evaluated primarily for land value and potential uses. Improvements include a 3 bedroom 2 bathroom mobile home currently on septic and a metal building with attached dog kennel runs. The layout provides space for storage, hobby use, or potential business applications depending on buyer needs. Convenient access to Greenville and surrounding areas makes this a versatile property with investment potential.

ⓘ 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: $1,187 · $99/mo
• Projected year-2 tax: $2,544 · $212/mo
• Expected delta: +$1,356/yr (+$113/mo · 114.2%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥111°F today · 23 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,006
• − Mortgage interest: −$7,786
• − Property taxes: −$1,187
• − Insurance: −$695
• − Repairs & maintenance: −$1,760
• − Management: −$1,760
• − Depreciation: −$4,044
• Taxable income: $4,773
• Est. tax owed @ 24.0%: −$1,145
• After-tax cash flow: $5,610/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: Greenville ISD
• NCES district ID: 4821720
• Math proficiency: 20% ▼ -12.00%
• Reading proficiency: 26% ▼ -7.00%
• Median HH income: $41,374
• Composite: 19.56/100
• National rank: #8759
• State rank: #743 of 826 in TX

Livability — Greenville

• Score: 77/100
• State rank: #78
• US rank: #2719

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Hunt County · 71,969 people
• City population: 42,767
• Metro: Dallas-Fort Worth-Arlington, TX
• Population (ZIP): 20,098
• Household income: $77,877
• Rent vs Own: 33.1% rent · 66.9% own
• Severe rent burden: 361.0

Population outlook (Hunt County) Hauer SSP2

• Today (2025): 97,090 people
• By 2030: 100,452 · +3.5%
• By 2040: 106,544 · +9.7%
• By 2050: 111,218 · +14.6%
• By 2075: 121,695 · +25.3%
• By 2100: 123,683 · +27.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 11% Black 10% Two or more races 8% Asian 2%
• Hispanic origin (detail): Mexican 7% Puerto Rican 1%
• Common ancestry: Slovak 2% Romanian 2% Lithuanian 1%
• Foreign-born: 3% · Canada, China
• Languages at home: 93% English-only · Spanish 5% Chinese 1%

Political lean MEDSL · Hunt

• 2024 margin: Solid R (+55.5) · D 21.9% · R 77.4%
• 2008→2024 swing: -14.9pp toward R · 2008: -40.6pp · 2024: -55.5pp
• All cycles: 2024: R+55.5 2020: R+52.5 2016: R+56.3 2012: R+51.2 2008: R+40.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -141.52%
• Current HPI: 232.0505
• Rent YoY: ▼ -1.00%
• Metro: Dallas-Fort Worth-Arlington, 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

-20.0% since first listed

3 events — show timeline

• 2026-04-19 Price Changed $140,000 NTREIS
• 2026-03-31 Price Changed $159,000 NTREIS
• 2026-03-12 Listed $175,000 NTREIS

Property tax history

+4.4%/yr

Latest (2025): $1,187 · +12.3% YoY. Source: county tax records.