90 Mulberry · Lake View, TX 78840

$80,000

2 bd · 1.0 ba · 980 sqft · Manufactured · 248 Days on market

Fair condition $9/mo HOA · 1% of rent

---

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

This spacious 2-bedroom, 1-bath mobile home offers 980 sq ft of potential and is perfect for investors, DIY enthusiasts, or anyone looking to build equity with a little TLC. Located in Del Grande Mobile Homes, this property is priced to sell and ready for your personal touch. With a functional layout, ample natural light, and a generous lot, this is a fantastic chance to customize and renovate to your taste.

Key facts

• Listed 247 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $80k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $392 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $70k (12.0% 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; 3 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 $553 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 $22k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 248 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• 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 $70,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 248 days. Have you received any prior offers? Is the seller open to a 12% 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: 1.51% ✓
• Cap rate: 12.17%
• Cash-on-cash: 20.99%
• DSCR: 1.93
• GRM: 5.5

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: 11.8%
• Equity multiple: 1.46×
• Total profit: $10,278
• Equity at exit: $11,928

10-year hold

• IRR: 19.6%
• Equity multiple: 2.53×
• Total profit: $34,258
• Equity at exit: $6,917

Cash invested: $22,400 (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: 5.5×

Monthly cashflow live

• Estimated rent: $1,207 medium
• Mortgage (P&I): −$420
• Tax est. 1.5%: −$100 /mo · $1,200/yr
• Insurance: −$33
• HOA: −$9
• Vacancy / Maint / Mgmt: −$254
• Net cashflow: $392

Break-even live

Break-even rent $711

Max offer price $80,000

Occupancy floor 63%

Sensitivity live

Price	-10% $447	-5% $419	+0% $392	+5% $364	+10% $337
Rent	-10% $296	-5% $344	+0% $392	+5% $439	+10% $487
Rate	-1.0pp $432	-0.5pp $412	base $392	+0.5pp $371	+1.0pp $350

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Rent comps 3 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	0.05mi
11372 W US Highway 90 #86 Del Rio, TX	2.0	2.0	897	$1,100	$1.23	44d	1	0.06mi
163 Striper Rd Del Rio, TX	3.0	2.0	988	$1,000	$1.01	44d	1	0.63mi

HOA detail

• Monthly dues: $9 · $108/yr

Listing history 17 events

1. 2026-06-19
   days on market $80,000 Active 248 DOM
2. 2026-06-18
   days on market $80,000 Active 247 DOM
3. 2026-06-17
   days on market $80,000 Active 246 DOM
4. 2026-06-16
   days on market $80,000 Active 245 DOM
5. 2026-06-15
   days on market $80,000 Active 244 DOM
6. 2026-06-14
   days on market $80,000 Active 242 DOM
7. 2026-06-12
   days on market $80,000 Active 241 DOM
8. 2026-06-09
   days on market $80,000 Active 238 DOM
9. 2026-06-08
   days on market $80,000 Active 237 DOM
10. 2026-06-07
    days on market $80,000 Active 236 DOM
11. 2026-06-05
    days on market $80,000 Active 233 DOM
12. 2026-06-03
    days on market $80,000 Active 232 DOM
13. 2026-06-02
    days on market $80,000 Active 231 DOM
14. 2026-06-01
    days on market $80,000 Active 230 DOM
15. 2026-05-31
    days on market $80,000 Active 229 DOM
16. 2026-05-30
    days on market $80,000 Active 228 DOM
17. 2025-10-14
    listed $80,000 Active 411-char remark

    Show marketing remark (411 chars)

    This spacious 2-bedroom, 1-bath mobile home offers 980 sq ft of potential and is perfect for investors, DIY enthusiasts, or anyone looking to build equity with a little TLC. Located in Del Grande Mobile Homes, this property is priced to sell and ready for your personal touch. With a functional layout, ample natural light, and a generous lot, this is a fantastic chance to customize and renovate to your taste.

ⓘ 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: $14,486
• − Mortgage interest: −$4,481
• − Property taxes: −$1,200
• − Insurance: −$400
• − Repairs & maintenance: −$1,159
• − Management: −$1,159
• − HOA: −$108
• − Depreciation: −$2,327
• Taxable income: $3,652
• Est. tax owed @ 24.0%: −$876
• After-tax cash flow: $3,825/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 · 10 photos

Fair 45/100 Moderate rehab

This 2-bedroom, 1-bath mobile home requires moderate renovations to modernize and improve its value. Key updates include new kitchen cabinets, bathroom fixtures, HVAC system, exterior paint, and landscaping.

Repairs flagged

• Moderate kitchen cabinets — dated and worn
• Moderate bathroom fixtures — outdated and worn
• Unknown HVAC system — no visible damage

Value-add opportunities

• Resale new kitchen cabinets — modernizes the space
• Resale new bathroom fixtures — modernizes the space
• Both HVAC system upgrade — improves comfort and energy efficiency
• Both exterior paint — enhances curb appeal and value
• Both landscaping — enhances curb appeal and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and worn	Moderate	$3,000–15,000
bathroom fixtures · outdated and worn	Moderate	$3,000–15,000
HVAC system · no visible damage	Unknown	$500–3,000
Total estimated repair cost · 3 items		$6,500–33,000

Value-add ROI direction

• Resale new kitchen cabinets — modernizes the space ↑
• Resale new bathroom fixtures — modernizes the space ↑
• Both HVAC system upgrade — improves comfort and energy efficiency ↑
• Both exterior paint — enhances curb appeal and value ↑
• Both landscaping — enhances curb appeal and value ↑

ⓘ 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

1 event — show timeline

• 2025-10-14 Listed $80,000 DRBORMLS