5533 W State Highway 243 · Myrtle Springs, TX 75103

$125,500

3 bd · 2.0 ba · 924 sqft · Manufactured public records · 8 Days on market

Built 1997 1.00 ac lot

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Why this score? — see what drove the C+ 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 +25.7/30.0
• DSCR +8.6/10.0
• ARV discount +7.5/15.0
• 1% rule +6.4/10.0
• Schools +4.4/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Property is located in the highly sought-after Canton ISD, this 1-acre lot is in prime location on State Highway 243. It offers endless potential with excellent road frontage and visibility. The property includes a single-wide mobile home that will convey with the sale. A remodel was previously started and not completed. You could easily add a little TLC and live in it while building the home of your dreams. RV hookup, Electricity and water are all installed on site. Property is being sold AS IS.

Key facts

• As is
• 1-acre lot
• State highway 243

Tags

• 1-ACRE LOT
• STATE HIGHWAY 243
• EXCELLENT ROAD FRONTAGE
• AS IS

Property features AI

Finance

• Financial info: Treat as clear loan type; No second mortgage indicated
• HOA & community: No association

Exterior

• Parking: Common parking
• Utilities: Electricity available; Individual water meter; Property is outside city limits; No municipal utility district
• Home design: Single-family residence; One story; Property attached
• Construction: Built in 1997
• Exterior features: 1-acre lot; Rural subdivision setting; Located about 5 miles west of Canton High School

Interior

• Kitchen: Dishwasher
• Bedrooms: 3 bedrooms (all on the main level)
• Bathrooms: 2 full bathrooms
• Interior features: Eat-in kitchen; One living area; One dining area; Total of 4 rooms
• Laundry & utility: Washer and dryer included

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $126k.

Deal economics

• At list price, monthly cash flow is $302 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $126k).
• Cap rate 9.2% vs local median 1.1% in Myrtle Springs — 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 60/100 on livability (#1,054 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• Canton ISD (town): math 49% / reading 55% proficiency, ranked #151 of 826 in TX (top 18%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Canton El (571 students, 57% FRL) — zoned schools average 57% FRL vs 40% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 259 active listings in the ZIP; 54 units permitted in Van Zandt County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $868 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Van Zandt County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 64% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $125,500

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 1.14% ✓
• Cap rate: 9.18%
• Cash-on-cash: 10.33%
• DSCR: 1.46
• GRM: 7.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -0.8%
• Equity multiple: 0.97×
• Total profit: $-1,080
• Equity at exit: $18,712

10-year hold

• IRR: 8.9%
• Equity multiple: 1.68×
• Total profit: $23,849
• Equity at exit: $10,851

Cash invested: $35,140 (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 75103

• Home prices YoY: -14.3%
• Active inventory: 259
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,431 medium
• Mortgage (P&I): −$658
• Tax from tax record: −$118 /mo · $1,412/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$300
• Net cashflow: $302

Break-even live

Break-even rent $1,048

Max offer price $125,500

Occupancy floor 74%

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: $31,375
• Closing costs: $3,765
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-18
   days on market $125,500 Active 8 DOM
2. 2026-06-17
   days on market $125,500 Active 7 DOM
3. 2026-06-16
   days on market $125,500 Active 6 DOM
4. 2026-06-15
   pricedays on market $125,500 Active 5 DOM
5. 2026-06-13
   days on market $145,500 Active 3 DOM
6. 2026-06-13
   remarks 501-char remark
7. 2026-06-13
   listed $145,500 Active 2 DOM

ⓘ 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: $1,412 · $118/mo
• Projected year-2 tax: $2,297 · $191/mo
• Expected delta: +$885/yr (+$74/mo · 62.7%)

ⓘ 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 · 25 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 64% 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: $17,171
• − Mortgage interest: −$7,030
• − Property taxes: −$1,412
• − Insurance: −$628
• − Repairs & maintenance: −$1,374
• − Management: −$1,374
• − Depreciation: −$3,651
• Taxable income: $1,704
• Est. tax owed @ 24.0%: −$409
• After-tax cash flow: $3,220/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: Canton ISD
• NCES district ID: 4812750
• Math proficiency: 49% ▼ -12.00%
• Reading proficiency: 55% ▼ -1.00%
• Median HH income: $46,385
• Composite: 44.08/100
• National rank: #2877
• State rank: #151 of 826 in TX

Livability — Myrtle Springs

• Score: 60/100
• State rank: #1054
• US rank: #18547

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 16,222

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 (86%)
• Race & ethnicity: White 86% Hispanic / Latino 7% Two or more races 5% Black 1%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Lithuanian 2% Italian 1% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 4%

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: ▼ -38.07%
• Current HPI: 227.6156
• 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

2 events — show timeline

• 2026-06-10 Listed $145,500 NTREIS
• 2025-11-07 Sold (Public Records) — Public Records

Property tax history

+1.0%/yr

Latest (2025): $1,412 · +7.0% YoY. Source: county tax records.