2101 E Partridge St

Fort Stockton, TX 79735

$140,000C-

3 bd · 1.0 ba · 1,568 sqft · Built 1981 · Manufactured · Active · 71 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,396/mo
• Mortgage (P&I): −$734
• Tax + insurance: −$235
• HOA: −$0
• Vac / Maint / Mgmt: −$293
• Net cashflow: $134/mo
• Annual: $1,605/yr
• Cap rate: 7.44%
• Cash-on-cash: 4.10%
• DSCR: 1.18
• 1% rule: 1.00%
• Cash to close: $39,200

Investor read

• This is a 3-bed/1.0-bath manufactured listed at $140k.
• At list price, monthly cash flow is $134 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $140k (0.3% below list).
• It's been on market 71 days — a 6% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $132k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $968 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 67/100 on livability (#532 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, schools F, amenities F.
• Fort Stockton ISD (town): math 23% / reading 28% proficiency, ranked #709 of 826 in TX (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 108 active listings in the ZIP; 10 units permitted in Pecos County in 2024 (5 in 5+ unit buildings).
• Pecos County population projected at +25% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→21/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 71 days. Have you received any prior offers? Is the seller open to a 6% 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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.