120 Huling Dr

Azle, TX 76020

$160,000D-

3 bd · 2.0 ba · 1,064 sqft · Built 2008 · Manufactured · Active · 52 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,322/mo
• Mortgage (P&I): −$839
• Tax + insurance: −$226
• HOA: −$0
• Vac / Maint / Mgmt: −$278
• Net cashflow: $-21/mo
• Annual: $-248/yr
• Cap rate: 6.14%
• Cash-on-cash: -0.55%
• DSCR: 0.98
• 1% rule: 0.83%
• Cash to close: $44,800

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $160k.
• At list price, monthly cash flow is $-21 ($-248/yr) — negative.
• To cash-flow at today's rent, offer at most $156k (2.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $132k (17.4% below list).
• It's been on market 52 days — a 3% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $132k (17.4% below list) — sets the bar for 1% rule.
• 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 72/100 on livability (#267 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment A; Watch: health & safety D+, amenities F, commute F.
• Azle ISD (suburban): math 37% / reading 43% proficiency, ranked #351 of 826 in TX (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Silver Creek El (math 37% / reading 42%, grade F, #1,545 of 4,322 statewide, top 38%, 509 students, 42% FRL); Azle J H South (math 31% / reading 41%, grade F, #805 of 1,662 statewide, top 50%, 584 students, 43% FRL); Azle H S (math 41% / reading 50%, grade D-, #634 of 1,632 statewide, top 39%, 2,054 students, 44% FRL) — zoned schools at 43% FRL track the district average.
• Market conditions: Rents rising (+2.3%/yr); 597 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 437 units permitted in Parker County in 2024 (0 in 5+ unit buildings).
• Parker County population projected at +32% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts since 5y ago 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.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.1% vs local median 3.1% in Azle — 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 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?
• It's been on market 52 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.