188 Mohican · Quitman, TX 75783

$179,900

3 bd · 2.0 ba · 924 sqft · SingleFamily public records · 10 Days on market

Built 2017 0.37 ac lot Est $168k · 7% over $52/mo HOA · 4% of rent

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Why this score? — see what drove the D- 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 +12.8/30.0
• ARV discount +4.4/15.0
• DSCR +3.8/10.0
• Livability +3.8/5.0
• Schools +3.5/10.0
• 1% rule +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

More Than a Home—It's a Lake Fork Lifestyle! Welcome to Holiday Villages of Fork, a gated waterfront community on world-famous Lake Fork. This well-maintained 3-bedroom, 2-bath manufactured home, built in 2017, sits on four separate lots, offering room to spread out today and potential opportunities for tomorrow. The additional lots may be separated, creating the possibility for future income-producing properties, guest accommodations, or investment opportunities, subject to community and local regulations. Outdoor features include a spacious deck, patio, carport by home 360 sq ft. , storage shed 120 sq ft, RV port 720 sq ft, and a workshop with concrete floor and its own electrical service 216 sq ft plus an attached carport 216 sq ft. , Whether you're a fisherman, hobbyist, investor, or full-time lake lover, you'll appreciate the versatility this property provides. Life in Holiday Villages is about more than owning a home—it's about enjoying a community. Residents have access to a clubhouse for social gatherings, Bible studies, games, pool tables, ping pong, and a library area, along with a basketball court, playground, stocked fishing pond, and an in-ground swimming pool. Best of all, the boat ramp is just minutes away, putting Lake Fork at your fingertips. Lake Fork is recognized nationwide as one of the premier trophy largemouth bass fishing lakes, producing 15 of the top 20 Texas state record largemouth bass. Whether you're looking for a weekend retreat, full-time residence, or a property with investment potential, this unique offering delivers the best of East Texas lake living. The original black refrigerator will stay with the property- it is currently in the shop. Seller will be taking the doorbell. All sheds and carports will remain with the property. Propane tank is leased. Buyer will have to secure their own. Check out the website for Holiday Village Fork for all Rules-Restrictions and information

Key facts

• Four separate lots
• Spacious deck
• Storage shed

Tags

• GATED WATERFRONT COMMUNITY
• FOUR SEPARATE LOTS
• SPACIOUS DECK
• STORAGE SHED
• RV PORT
• WORKSHOP WITH CONCRETE FLOOR

Property features AI

Finance

• Other: Property located in Holiday Villages of Fork subdivision; Community amenities include boat ramp, clubhouse, community dock, community pool, fishing, guarded entrance, lake, playground, and pool
• Financial info: Second mortgage present; Loan type: Treat As Clear
• HOA & community: Mandatory association; Monthly association fee of $52; Association fee includes full use of facilities and sewer; HOA managed by Holiday Village of Fork POA

Exterior

• Parking: Covered RV carport; Carport with 4 spaces (4 covered spaces); No garage
• Security: Gated community
• Utilities: Septic
• Home design: Manufactured home; One story; Attached; Located in a gated community
• Construction: Shingle roof; Pillar/Post/Pier foundation; Built in 2017
• Exterior features: Covered patio; Deck; In-ground pool; Outbuilding; RV/boat storage; Workshop with electric; Easements for utilities

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator
• Bedrooms: 3 bedrooms (primary bedroom on main level)
• Flooring: Laminate; Luxury vinyl plank; Simulated wood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Ceiling fan(s)
• Interior features: Open floorplan; High-speed internet available; Walk-in closet(s); One living area; One dining area; Fireplace in living room
• Laundry & utility: Full-size washer/dryer area; Electric dryer hookup; Utility room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $-15 ($-181/yr) — negative.
• To cash-flow at today's rent, offer at most $177k (1.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $140k (22.0% below list).
• Recommended offer: $140k (22.0% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 4.1% in Quitman — 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 76/100 on livability (#106 in TX, #3,504 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, amenities F, commute F.
• Quitman ISD (town): math 36% / reading 47% proficiency, ranked #381 of 826 in TX (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Quitman El (math 40% / reading 43%, grade F, #1,437 of 4,322 statewide, top 34%, 581 students, 64% FRL).
• Market conditions: 207 active listings in the ZIP; 72 units permitted in Wood County in 2024 (29 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Wood County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $140,349 (22.0% 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 does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.78% ✗
• Cap rate: 6.19%
• Cash-on-cash: -0.36%
• DSCR: 0.98
• GRM: 10.7

CMA / ARV

• ARV (on-the-fly): $168,168
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
349 Arapaho	0.56mi	2/1.0 (-1)	936 (+1%)	3mo	$169,900	$182	61

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

Projected returns pro-forma

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

5-year hold

• IRR: -16.9%
• Equity multiple: 0.40×
• Total profit: $-30,167
• Equity at exit: $26,824

10-year hold

• IRR: -8.9%
• Equity multiple: 0.45×
• Total profit: $-27,720
• Equity at exit: $15,554

Cash invested: $50,372 (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 75783

• Home prices YoY: -9.6%
• Active inventory: 207
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $1,403 medium
• Mortgage (P&I): −$943
• Tax from tax record: −$54 /mo · $642/yr
• Insurance: −$75
• HOA: −$52
• Vacancy / Maint / Mgmt: −$295
• Net cashflow: $-15

Break-even live

Break-even rent $1,423

Max offer price $177,229

Occupancy floor 96%

Sensitivity live

Price	-10% $87	-5% $36	+0% $-15	+5% $-66	+10% $-117
Rent	-10% $-126	-5% $-71	+0% $-15	+5% $40	+10% $96
Rate	-1.0pp $75	-0.5pp $31	base $-15	+0.5pp $-62	+1.0pp $-109

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $52 · $624/yr
• Likely covers: waterelectricpoolsecurity

Listing history 10 events

1. 2026-06-21
   days on market $179,900 Active 10 DOM
2. 2026-06-21
   days on market $179,900 Active 9 DOM
3. 2026-06-18
   days on market $179,900 Active 7 DOM
4. 2026-06-17
   days on market $179,900 Active 6 DOM
5. 2026-06-16
   days on market $179,900 Active 5 DOM
6. 2026-06-15
   days on market $179,900 Active 4 DOM
7. 2026-06-15
   days on market $179,900 Active 3 DOM
8. 2026-06-13
   days on market $179,900 Active 2 DOM
9. 2026-06-12
   remarks 699-char remark

   Show marketing remark (1955 chars)

   More Than a Home—It's a Lake Fork Lifestyle! Welcome to Holiday Villages of Fork, a gated waterfront community on world-famous Lake Fork. This well-maintained 3-bedroom, 2-bath manufactured home, built in 2017, sits on four separate lots, offering room to spread out today and potential opportunities for tomorrow. The additional lots may be separated, creating the possibility for future income-producing properties, guest accommodations, or investment opportunities, subject to community and local regulations. Outdoor features include a spacious deck, patio, carport by home 360 sq ft. , storage shed 120 sq ft, RV port 720 sq ft, and a workshop with concrete floor and its own electrical service 216 sq ft plus an attached carport 216 sq ft. , Whether you're a fisherman, hobbyist, investor, or full-time lake lover, you'll appreciate the versatility this property provides. Life in Holiday Villages is about more than owning a home—it's about enjoying a community. Residents have access to a clubhouse for social gatherings, Bible studies, games, pool tables, ping pong, and a library area, along with a basketball court, playground, stocked fishing pond, and an in-ground swimming pool. Best of all, the boat ramp is just minutes away, putting Lake Fork at your fingertips. Lake Fork is recognized nationwide as one of the premier trophy largemouth bass fishing lakes, producing 15 of the top 20 Texas state record largemouth bass. Whether you're looking for a weekend retreat, full-time residence, or a property with investment potential, this unique offering delivers the best of East Texas lake living. The original black refrigerator will stay with the property- it is currently in the shop. Seller will be taking the doorbell. All sheds and carports will remain with the property. Propane tank is leased. Buyer will have to secure their own. Check out the website for Holiday Village Fork for all Rules-Restrictions and information

10. 2026-06-12
    listed $179,900 Active 1 DOM

    Show marketing remark (1955 chars)

    More Than a Home—It's a Lake Fork Lifestyle! Welcome to Holiday Villages of Fork, a gated waterfront community on world-famous Lake Fork. This well-maintained 3-bedroom, 2-bath manufactured home, built in 2017, sits on four separate lots, offering room to spread out today and potential opportunities for tomorrow. The additional lots may be separated, creating the possibility for future income-producing properties, guest accommodations, or investment opportunities, subject to community and local regulations. Outdoor features include a spacious deck, patio, carport by home 360 sq ft. , storage shed 120 sq ft, RV port 720 sq ft, and a workshop with concrete floor and its own electrical service 216 sq ft plus an attached carport 216 sq ft. , Whether you're a fisherman, hobbyist, investor, or full-time lake lover, you'll appreciate the versatility this property provides. Life in Holiday Villages is about more than owning a home—it's about enjoying a community. Residents have access to a clubhouse for social gatherings, Bible studies, games, pool tables, ping pong, and a library area, along with a basketball court, playground, stocked fishing pond, and an in-ground swimming pool. Best of all, the boat ramp is just minutes away, putting Lake Fork at your fingertips. Lake Fork is recognized nationwide as one of the premier trophy largemouth bass fishing lakes, producing 15 of the top 20 Texas state record largemouth bass. Whether you're looking for a weekend retreat, full-time residence, or a property with investment potential, this unique offering delivers the best of East Texas lake living. The original black refrigerator will stay with the property- it is currently in the shop. Seller will be taking the doorbell. All sheds and carports will remain with the property. Propane tank is leased. Buyer will have to secure their own. Check out the website for Holiday Village Fork for all Rules-Restrictions and information

ⓘ 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: $642 · $54/mo
• Projected year-2 tax: $3,292 · $274/mo
• Expected delta: +$2,650/yr (+$221/mo · 412.8%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥111°F today · 26 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,842
• − Mortgage interest: −$10,077
• − Property taxes: −$642
• − Insurance: −$900
• − Repairs & maintenance: −$1,347
• − Management: −$1,347
• − HOA: −$624
• − Depreciation: −$5,233
• Taxable loss: −$3,329
• Est. tax savings @ 24.0%: +$799
• After-tax cash flow: $618/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: Quitman ISD
• NCES district ID: 4836300
• Math proficiency: 36% ▼ -15.00%
• Reading proficiency: 47% ▼ -4.00%
• Median HH income: $42,081
• Composite: 34.94/100
• National rank: #5063
• State rank: #381 of 826 in TX

Livability — Quitman

• Score: 76/100
• State rank: #106
• US rank: #3504

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 8,011

Population outlook (Wood County) Hauer SSP2

• Today (2025): 46,480 people
• By 2030: 47,796 · +2.8%
• By 2040: 50,142 · +7.9%
• By 2050: 52,122 · +12.1%
• By 2075: 57,033 · +22.7%
• By 2100: 56,418 · +21.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Hispanic / Latino 13% Two or more races 9% Black 2%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Italian 3% Slovak 3% Portuguese 1%
• Foreign-born: 2% · Canada
• Languages at home: 92% English-only · Spanish 8%

Political lean MEDSL · Wood

• 2024 margin: Solid R (+69.7) · D 14.8% · R 84.6%
• 2008→2024 swing: -15.5pp toward R · 2008: -54.2pp · 2024: -69.7pp
• All cycles: 2024: R+69.7 2020: R+68.2 2016: R+70.0 2012: R+64.2 2008: R+54.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -24.83%
• Current HPI: 234.4883
• 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

+0.0% since first listed

3 events — show timeline

• 2026-06-12 Listed $179,900 GTAR
• 2026-06-11 Listed $179,900 NTREIS
• 2026-06-11 Listed $179,900 LAAR

Property tax history

-0.3%/yr

Latest (2025): $642 · +19.2% YoY. Source: county tax records.