402 E State Highway 121 · Lewisville, TX 75057

$40,000

3 bd · 2.0 ba · 1,054 sqft · Manufactured public records · 12 Days on market

Built 2017

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.7/10.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Rent growth +1.7/5.0
• Appreciation +0.0/10.0

Listing remarks

Beautiful, fully remodeled mobile home. We are relocating out of state on July 6 and absolutely need this sold before we leave. Clean title in hand. First serious cash offer takes it! Shed needs replaced. Home is paid off. Driveway fits 2-3 cars, and lot rent is 980 and you must be approved by park. Hranite counters, vessle sinks and a/c was replaced a year ago and half roof replacement april 2026

Key facts

• Built 2017
• Listed 11 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $40k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $40k).
• Cap rate 41.7% vs local median 3.1% in Lewisville — 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 69/100 on livability (#440 in TX) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A, crime B+; Watch: commute D+, schools D-, amenities F.
• Lewisville ISD (suburban): math 49% / reading 54% proficiency, ranked #109 of 826 in TX (top 13%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents falling (-3.3%/yr); 37 active listings in the ZIP; 34 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 10,531 units permitted in Denton County in 2024 (2,713 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $277 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Denton County population projected at +66% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $11k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: moderate wind risk, 24% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $40,000

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 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?
3. 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?
4. 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.
5. 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.
6. 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: 4.60% ✓
• Cap rate: 41.70%
• Cash-on-cash: 126.46%
• DSCR: 6.63
• GRM: 1.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 6.65×
• Total profit: $63,326
• Equity at exit: $5,964

10-year hold

• IRR: —
• Equity multiple: 12.72×
• Total profit: $131,210
• Equity at exit: $3,458

Cash invested: $11,200 (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 75057

• Home prices YoY: -19.8%
• Rents YoY: -3.3%
• Active inventory: 37
• Price-to-rent: 1.8×

Monthly cashflow live

• Estimated rent: $1,840 high
• Mortgage (P&I): −$210
• Tax from tax record: −$47 /mo · $559/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$386
• Net cashflow: $1,180

Break-even live

Break-even rent $346

Max offer price $40,000

Occupancy floor 31%

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: $10,000
• Closing costs: $1,200
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1090 S Charles St Lewisville, TX	2.0	1.0	710	$1,350	$1.90	16d	3	0.52mi
220 S Shore Pl Lewisville, TX	3.0	2.0	1291	$1,925	$1.49	43d	1	0.58mi
324 N Shore Pl Lewisville, TX	3.0	1.5	1160	$2,150	$1.85	20d	1	0.72mi
843 Harbor Dr Lewisville, TX	3.0	1.0	1210	$2,000	$1.65	43d	1	0.74mi
535 S Mill St Lewisville, TX	2.0	1.0–2.0	827	$2,401	$2.90	2d	25	0.76mi
1531 S State Highway 121 Unit 2118 Lewisville, TX	2.0	2.0	1082	$1,371	$1.27	3d	1	0.81mi
1531 S State Highway 121 Lewisville, TX	1.0–3.0	1.0–2.0	928	$2,024	$2.18	1d	81	0.85mi
200 Oak Knoll Cir Lewisville, TX	1.0–2.0	1.0–2.0	820	$1,273	$1.55	2d	57	0.90mi
100 E Main St Lewisville, TX	1.0–2.0	1.0–2.0	1071	$2,620	$2.45	1d	17	0.90mi
120 Main St Lewisville, TX	1.0–3.0	1.0–2.0	1542	$3,464	$2.25	1d	13	0.94mi
201 W Southwest Pkwy Unit 2118 Lewisville, TX	2.0	2.0	884	$1,283	$1.45	3d	1	0.99mi
201 W Southwest Pkwy Unit 258 Lewisville, TX	2.0	2.0	783	$1,251	$1.60	43d	1	0.99mi
247 E Southwest Pkwy Lewisville, TX	1.0–2.0	1.0–2.0	750	$1,508	$2.01	2d	23	0.99mi
1679 S State Highway 121 Lewisville, TX	2.0	2.0	1000	$1,525	$1.52	24d	1	1.03mi
502 E College St Lewisville, TX	1.0–2.0	1.0–2.0	964	$2,115	$2.19	2d	38	1.04mi
450 S Edna Ave Lewisville, TX	3.0	2.5	1371	$5,000	$3.65	3d	1	1.09mi
248 E Southwest Pkwy Lewisville, TX	1.0–2.0	1.0–2.0	764	$1,474	$1.93	1d	20	1.10mi
396 E Southwest Pkwy Lewisville, TX	1.0–2.0	1.0–2.0	744	$1,342	$1.80	1d	31	1.11mi
400 W Main St Lewisville, TX	1.0–3.0	1.0–2.0	1000	$2,695	$2.69	2d	39	1.19mi
357 E Corporate Dr Lewisville, TX	1.0–2.0	1.0–2.0	760	$1,309	$1.72	1d	10	1.23mi
376 W Walters St Lewisville, TX	2.0	1.0	1008	$1,650	$1.64	43d	1	1.27mi
1902 S State Highway 121 Lewisville, TX	2.0	1.0	966	$1,765	$1.83	43d	1	1.30mi
1902 S State Highway 121 Lewisville, TX	2.0	2.0	925	$1,599	$1.73	24d	1	1.30mi
712 Ridgecrest Dr Lewisville, TX	3.0	2.0	1128	$1,850	$1.64	44d	1	1.33mi
265 E Corporate Dr Unit 3121 Lewisville, TX	3.0	2.0	1208	$1,954	$1.62	12d	1	1.37mi
265 E Corporate Dr Unit 3121 Lewisville, TX	3.0	2.0	1208	$1,911	$1.58	3d	1	1.37mi
265 E Corporate Dr Unit 288 Lewisville, TX	2.0	2.0	1108	$1,651	$1.49	3d	1	1.37mi
265 E Corporate Dr Unit 322 Lewisville, TX	2.0	2.0	1000	$1,424	$1.42	43d	1	1.37mi
760 S Edmonds Ln Lewisville, TX	2.0	1.0	753	$1,459	$1.94	5d	1	1.42mi
2190 Uecker Ln Unit 2223 Lewisville, TX	3.0	2.0	1279	$1,871	$1.46	3d	1	1.43mi
2190 Uecker Ln Unit 2247 Lewisville, TX	2.0	2.0	1029	$1,494	$1.45	43d	1	1.43mi
2190 Uecker Ln Unit 2227 Lewisville, TX	2.0	2.0	1029	$1,461	$1.42	3d	1	1.44mi
247 E Corporate Dr Lewisville, TX	2.0	1.0–2.0	781	$1,548	$1.98	1d	21	1.46mi
350 Continental Dr Lewisville, TX	1.0–3.0	1.0–2.0	1004	$1,888	$1.88	1d	18	1.48mi

Listing history 10 events

1. 2026-06-18
   days on market $40,000 Active 12 DOM
2. 2026-06-17
   days on market $40,000 Active 11 DOM
3. 2026-06-16
   days on market $40,000 Active 10 DOM
4. 2026-06-15
   days on market $40,000 Active 9 DOM
5. 2026-06-13
   days on market $40,000 Active 7 DOM
6. 2026-06-13
   days on market $40,000 Active 6 DOM
7. 2026-06-09
   days on market $40,000 Active 3 DOM
8. 2026-06-08
   days on market $40,000 Active 2 DOM
9. 2026-06-07
   remarks 400-char remark
10. 2026-06-07
    listed $40,000 Active 1 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: $559 · $47/mo
• Projected year-2 tax: $732 · $61/mo
• Expected delta: +$173/yr (+$14/mo · 30.9%)

ⓘ 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 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 22 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 24% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,076
• − Mortgage interest: −$2,241
• − Property taxes: −$559
• − Insurance: −$200
• − Repairs & maintenance: −$1,766
• − Management: −$1,766
• − Depreciation: −$1,164
• Taxable income: $14,380
• Est. tax owed @ 24.0%: −$3,451
• After-tax cash flow: $10,712/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: Lewisville ISD
• NCES district ID: 4827300
• Math proficiency: 49% ▼ -10.00%
• Reading proficiency: 54% ▼ -4.00%
• Median HH income: $82,351
• Composite: 47.1/100
• National rank: #2333
• State rank: #109 of 826 in TX

Livability — Lewisville

• Score: 69/100
• State rank: #440
• US rank: #8991

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lewisville, TX
• County: Denton County · 901,654 people
• City population: 84,871
• Metro: Dallas-Fort Worth-Arlington, TX
• Population (ZIP): 17,958
• Household income: $82,803
• Rent vs Own: 64.3% rent · 35.7% own
• Severe rent burden: 975.0

Population outlook (Denton County) Hauer SSP2

• Today (2025): 1,053,010 people
• By 2030: 1,192,269 · +13.2%
• By 2040: 1,472,920 · +39.9%
• By 2050: 1,746,506 · +65.9%
• By 2075: 2,358,497 · +124.0%
• By 2100: 2,779,183 · +163.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: Hispanic / Latino 42% White 39% Two or more races 23% Black 11% Asian 3% Native American 2%
• Hispanic origin (detail): Mexican 34%
• Common ancestry: Swedish 1% Slovak 1% Serbian 1%
• Foreign-born: 17% · Canada, South Korea, Vietnam
• Languages at home: 62% English-only · Spanish 32% Korean 1% Other Asian/Pacific 1%

Political lean MEDSL · Denton

• 2024 margin: R (+13.2) · D 42.7% · R 55.8% · Other 1.5%
• 2008→2024 swing: +11.0pp toward D · 2008: -24.2pp · 2024: -13.2pp
• All cycles: 2024: R+13.2 2020: R+8.1 2016: R+20.2 2012: R+31.7 2008: R+24.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -76.22%
• Current HPI: 308.1135
• Rent YoY: ▼ -3.28%
• Metro: Dallas-Fort Worth-Arlington, 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

• 2026-06-07 Listed $40,000 FSBO.com