105 Spring Creek Pl

Texarkana, TX 75501

$136,000C-

4 bd · 3.0 ba · 2,052 sqft · Built 2006 · Manufactured · Active · 27 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,432/mo
• Mortgage (P&I): −$713
• Tax + insurance: −$212
• HOA: −$0
• Vac / Maint / Mgmt: −$301
• Net cashflow: $207/mo
• Annual: $2,483/yr
• Cap rate: 8.12%
• Cash-on-cash: 6.52%
• DSCR: 1.29
• 1% rule: 1.05%
• Cash to close: $38,080

Investor read

• This is a 4-bed/3.0-bath manufactured listed at $136k.
• At list price, monthly cash flow is $207 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $136k).
• It's been on market 27 days — a 2% lower offer ($134k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $134k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $940 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 77/100 on livability (#93 in TX, #3,241 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities D+, crime D, employment D.
• Liberty-Eylau ISD (urban): math 19% / reading 23% proficiency, ranked #772 of 826 in TX (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Liberty-Eylau El (math 20% / reading 16%, grade F, #3,785 of 4,322 statewide, top 88%, 575 students, 90% FRL) — zoned schools average 90% FRL vs 68% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.6%/yr); 320 active listings in the ZIP; 137 units permitted in Bowie County in 2024 (5 in 5+ unit buildings).
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 8.1% vs local median 4.3% in Texarkana — 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.
• This rent runs 37% of the median local income ($46k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.