137 White Oak

Onalaska, TX 77360

$79,900C-

1 bd · 2.0 ba · 480 sqft · Built 1975 · Manufactured · Pending · 194 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $943/mo
• Mortgage (P&I): −$419
• Tax + insurance: −$280
• HOA: −$8
• Vac / Maint / Mgmt: −$198
• Net cashflow: $38/mo
• Annual: $462/yr
• Cap rate: 6.87%
• Cash-on-cash: 2.06%
• DSCR: 1.09
• 1% rule: 1.18%
• Cash to close: $22,372

Investor read

• This is a 1-bed/2.0-bath manufactured listed at $80k.
• At list price, monthly cash flow is $38 ($462/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($943 rent vs $80k).
• It's been on market 194 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• In year one you build about $66 of equity ($552 loan paydown + $-486 appreciation (-0.6% local appreciation)).
• Location reads 60/100 on livability (#1,055 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, crime D+, amenities F.
• Onalaska ISD (rural): math 50% / reading 48% proficiency, ranked #213 of 826 in TX (top 26%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Onalaska Jr/Sr High (math 48% / reading 55%, grade D+, #478 of 1,632 statewide, top 29%, 527 students, 58% FRL) — zoned schools at 58% FRL track the district average.
• Watch-outs: property tax is 3.7% of price.
• Market conditions: 352 active listings in the ZIP; 769 units permitted in Polk County in 2024 (0 in 5+ unit buildings).
• Polk County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts; this cycle's ask has dropped $45k (36%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $55k; 45% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Climate carrying-cost: severe wind risk, 98% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.9% vs local median 2.9% in Onalaska — 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

• It's been on market 194 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?