7225 King St

Manvel, TX 77578

$180,000C

3 bd · 2.0 ba · 1,120 sqft · Built 1986 · Manufactured · Pending · 19 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,033/mo
• Mortgage (P&I): −$944
• Tax + insurance: −$404
• HOA: −$0
• Vac / Maint / Mgmt: −$427
• Net cashflow: $258/mo
• Annual: $3,096/yr
• Cap rate: 8.83%
• Cash-on-cash: 9.05%
• DSCR: 1.40
• 1% rule: 1.13%
• Cash to close: $50,400

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $180k.
• At list price, monthly cash flow is $258 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• It's been on market 19 days — a 2% lower offer ($177k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $177k (1.5% below list) — sets the bar for market timing.
• 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.
• Location reads 67/100 on livability (#544 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Alvin ISD (suburban): math 39% / reading 48% proficiency, ranked #255 of 826 in TX (top 31%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Iowa Colony H S (792 students, 56% FRL).
• Watch-outs: flood insurance adds $122/mo.
• Market conditions: Rents rising (+2.8%/yr); 1260 active listings in the ZIP; high-income renter base; 3,960 units permitted in Brazoria County in 2024 (593 in 5+ unit buildings).
• Brazoria County population projected at +44% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Current owner paid $54k; list at $180k implies a 233% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: in FEMA flood zone AO (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 8.8% vs local median 2.2% in Manvel — 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.

Questions for listing agent

• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.