795 FM 683

Amarillo, TX 79068

$100,000B

4 bd · 1.0 ba · 2,356 sqft · Built 1998 · Manufactured · Active · 163 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,642/mo
• Mortgage (P&I): −$524
• Tax + insurance: −$171
• HOA: −$0
• Vac / Maint / Mgmt: −$345
• Net cashflow: $602/mo
• Annual: $7,220/yr
• Cap rate: 13.51%
• Cash-on-cash: 25.79%
• DSCR: 2.15
• 1% rule: 1.64%
• Cash to close: $28,000

Investor read

• This is a 4-bed/1.0-bath manufactured listed at $100k.
• At list price, monthly cash flow is $602 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• It's been on market 163 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $88k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 66/100 on livability (#624 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: amenities C-, crime F, commute F.
• Panhandle ISD (rural): math 73% / reading 61% proficiency, ranked #27 of 826 in TX (top 3%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Panhandle El (math 67% / reading 67%, grade B+, #199 of 4,322 statewide, top 5%, 317 students, 32% FRL); Panhandle J H (math 77% / reading 57%, grade A-, #84 of 1,662 statewide, top 5%, 151 students, 32% FRL); Panhandle H S (math 74% / reading 74%, grade B+, #82 of 1,632 statewide, top 6%, 189 students, 26% FRL) — zoned schools at 30% FRL track the district average.
• Market conditions: 23 active listings in the ZIP; 39 units permitted in Carson County in 2024 (0 in 5+ unit buildings).
• Carson County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~5 years — after that, you're playing with house money.
• Climate carrying-cost: severe wildfire risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 163 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.
• 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 F 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.