11490 W Highway 90 Lot 123 Unit 123 Holiday Trailer Park · Lake View, TX 78840

$55,000

3 bd · 2.0 ba · 1,368 sqft · Manufactured · 65 Days on market

Built 2000 Fair condition $355/mo HOA · 26% of rent ↓ 27% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +2.9/5.0
• Schools +2.4/10.0
• Condition / age +2.2/5.0
• Livability +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Perfect set-up at Lake Amistad, great condition, includes all the applicances, lot rent includes water, sewer, and garbage. Large storage building, attached carport and detached carport perfect for your boat. Perfect place to relax, low maintenance.

Key facts

• 3 garage spots
• Community pool
• Built 2000

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $55k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $342 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Recommended offer: $52k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 41/100 on livability (#1,586 in TX) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: health & safety C-, schools F, amenities F.
• San Felipe-Del Rio CISD (town): math 25% / reading 32% proficiency, ranked #667 of 826 in TX (top 81%) — 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.
• Market conditions: Rents rising (+1.6%/yr); 549 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 85 units permitted in Val Verde County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $380 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Val Verde County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 1.6% rent growth), your $15k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($52k) is reasonable based on typical stale-listing flexibility.
• 2 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

• Watch-outs: HOA is 26% of rent.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 6→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $51,700 (6.0% below list)

Questions for the listing agent

1. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 2.48% ✓
• Cap rate: 13.76%
• Cash-on-cash: 26.68%
• DSCR: 2.19
• GRM: 3.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.55% rent growth · sell at horizon

5-year hold

• IRR: 18.3%
• Equity multiple: 1.73×
• Total profit: $11,168
• Equity at exit: $8,201

10-year hold

• IRR: 25.4%
• Equity multiple: 3.01×
• Total profit: $30,953
• Equity at exit: $4,755

Cash invested: $15,400 (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 78840

• Home prices YoY: -33.6%
• Rents YoY: 1.6%
• Active inventory: 549
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $1,364 medium
• Mortgage (P&I): −$288
• Tax est. 1.5%: −$69 /mo · $825/yr
• Insurance: −$23
• HOA: −$355
• Vacancy / Maint / Mgmt: −$286
• Net cashflow: $342

Break-even live

Break-even rent $930

Max offer price $55,000

Occupancy floor 70%

Sensitivity live

Price	-10% $380	-5% $361	+0% $342	+5% $323	+10% $304
Rent	-10% $235	-5% $288	+0% $342	+5% $396	+10% $450
Rate	-1.0pp $370	-0.5pp $356	base $342	+0.5pp $328	+1.0pp $314

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
86 Mulberry St Del Rio, TX	2.0	2.0	986	$1,100	$1.12	44d	1	0.14mi
11372 W US Highway 90 #86 Del Rio, TX	2.0	2.0	897	$1,100	$1.23	44d	1	0.24mi
163 Striper Rd Del Rio, TX	3.0	2.0	988	$1,000	$1.01	44d	1	0.76mi
203 Gancho Del Rio, TX	3.0	2.0	1729	$1,895	$1.10	44d	1	1.34mi

HOA detail

• Monthly dues: $355 · $4,260/yr
• Likely covers: watersewertrash

Listing history 22 events

1. 2026-06-19
   days on market $55,000 Active 65 DOM
2. 2026-06-18
   days on market $55,000 Active 64 DOM
3. 2026-06-17
   days on market $55,000 Active 63 DOM
4. 2026-06-16
   days on market $55,000 Active 62 DOM
5. 2026-06-15
   days on market $55,000 Active 61 DOM
6. 2026-06-14
   days on market $55,000 Active 59 DOM
7. 2026-06-12
   days on market $55,000 Active 58 DOM
8. 2026-06-09
   days on market $55,000 Active 55 DOM
9. 2026-06-08
   days on market $55,000 Active 54 DOM
10. 2026-06-07
    days on market $55,000 Active 53 DOM
11. 2026-06-05
    days on market $55,000 Active 50 DOM
12. 2026-06-03
    days on market $55,000 Active 49 DOM
13. 2026-06-02
    days on market $55,000 Active 48 DOM
14. 2026-06-01
    days on market $55,000 Active 47 DOM
15. 2026-05-31
    days on market $55,000 Active 46 DOM
16. 2026-05-30
    days on market $55,000 Active 45 DOM
17. 2026-04-15
    listed $55,000 Active 249-char remark

    Show marketing remark (249 chars)

    Perfect set-up at Lake Amistad, great condition, includes all the applicances, lot rent includes water, sewer, and garbage. Large storage building, attached carport and detached carport perfect for your boat. Perfect place to relax, low maintenance.

18. 2025-10-15
    price $55,000
19. 2025-09-04
    price $59,000
20. 2025-06-04
    price $65,000
21. 2025-04-23
    price $69,900
22. 2025-01-16
    listed $75,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 8/10 Severe 6 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 9% 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: $16,366
• − Mortgage interest: −$3,081
• − Property taxes: −$825
• − Insurance: −$275
• − Repairs & maintenance: −$1,309
• − Management: −$1,309
• − HOA: −$4,260
• − Depreciation: −$1,600
• Taxable income: $3,707
• Est. tax owed @ 24.0%: −$890
• After-tax cash flow: $3,218/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.

Condition & rehab AI · 13 photos

Fair 45/100 Moderate rehab

The property is in fair condition with moderate rehab needs, offering potential for significant value increase through updates.

Repairs flagged

• Minor kitchen cabinets — slight wear
• Minor bathroom fixtures — basic and dated

Value-add opportunities

• Both paint interior walls — enhances curb appeal and interior aesthetics
• Both replace kitchen cabinets — modernizes the kitchen and improves functionality
• Both update bathroom fixtures — enhances the bathroom's functionality and aesthetics

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · slight wear	Minor	$500–3,000
bathroom fixtures · basic and dated	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both paint interior walls — enhances curb appeal and interior aesthetics ↑
• Both replace kitchen cabinets — modernizes the kitchen and improves functionality ↑
• Both update bathroom fixtures — enhances the bathroom's functionality and aesthetics ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: San Felipe-Del Rio CISD
• NCES district ID: 4838900
• Math proficiency: 25% ▼ -18.00%
• Reading proficiency: 32% ▼ -5.00%
• Median HH income: $40,582
• Composite: 24.04/100
• National rank: #7766
• State rank: #667 of 826 in TX

Livability — Lake View

• Score: 41/100
• State rank: #1586
• US rank: #27132

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Val Verde County · 47,256 people
• Metro: Del Rio, TX
• Population (ZIP): 47,256
• Household income: $66,084
• Rent vs Own: 31.1% rent · 68.9% own
• Severe rent burden: 1111.0

Population outlook (Val Verde County) Hauer SSP2

• Today (2025): 48,073 people
• By 2030: 47,468 · -1.3%
• By 2040: 45,930 · -4.5%
• By 2050: 43,904 · -8.7%
• By 2075: 38,126 · -20.7%
• By 2100: 26,217 · -45.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (82%)
• Race & ethnicity: Hispanic / Latino 82% Two or more races 24% White 15% Black 1%
• Hispanic origin (detail): Mexican 75%
• Common ancestry: Italian 1% Lithuanian 1% Slovak 1%
• Foreign-born: 19% · Canada
• Languages at home: 36% English-only · Spanish 63%

Political lean MEDSL · Val Verde

• 2024 margin: Strong R (+26.6) · D 36.2% · R 62.9%
• 2008→2024 swing: -36.2pp toward R · 2008: 9.6pp · 2024: -26.6pp
• All cycles: 2024: R+26.6 2020: R+9.9 2016: D+7.9 2012: D+5.4 2008: D+9.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -81.95%
• Current HPI: 161.762
• Rent YoY: ▲ 1.55%
• Metro: Del Rio, 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

-26.7% since first listed

6 events — show timeline

• 2026-04-15 Listed $55,000 DRBORMLS
• 2025-10-15 Price Changed $55,000 DRBORMLS
• 2025-09-04 Price Changed $59,000 DRBORMLS
• 2025-06-04 Price Changed $65,000 DRBORMLS
• 2025-04-23 Price Changed $69,900 DRBORMLS
• 2025-01-16 Listed $75,000 DRBORMLS