247 N Lake St

Hallsburg, TX 76624

$194,900C

5 bd · 2.0 ba · 2,016 sqft · Built 2013 · Manufactured · Active · 137 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,113/mo
• Mortgage (P&I): −$1,022
• Tax + insurance: −$184
• HOA: −$0
• Vac / Maint / Mgmt: −$444
• Net cashflow: $463/mo
• Annual: $5,554/yr
• Cap rate: 9.14%
• Cash-on-cash: 10.18%
• DSCR: 1.45
• 1% rule: 1.08%
• Cash to close: $54,572

Investor read

• This is a 5-bed/2.0-bath manufactured listed at $195k.
• At list price, monthly cash flow is $463 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $195k).
• It's been on market 137 days — a 12% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $172k (12.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($1k loan paydown + $682 appreciation (0.3% local appreciation)).
• Location reads 63/100 on livability (#848 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D+, amenities F, commute F.
• Axtell ISD (rural): math 33% / reading 46% proficiency, ranked #425 of 826 in TX (top 52%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Axtell El (math 37% / reading 52%, grade F, #1,155 of 4,322 statewide, top 29%, 397 students, 51% FRL); Axtell Middle School (math 32% / reading 47%, grade F, #660 of 1,662 statewide, top 41%, 191 students, 64% FRL); Axtell H S (math 34% / reading 44%, grade F, #821 of 1,632 statewide, top 53%, 208 students, 49% FRL) — zoned schools at 55% FRL track the district average.
• Market conditions: 32 active listings in the ZIP; 1,014 units permitted in McLennan County in 2024 (200 in 5+ unit buildings).
• McLennan County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (0.3% appreciation + 3.0% rent growth), your $55k cash investment doubles in ~6 years — after that, you're playing with house money.
• Climate carrying-cost: major wind risk, 76% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 137 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• 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.
• 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?
• 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.