144 Bliss Cir

Fort Clark Springs, TX 78832

$60,000B

2 bd · 2.0 ba · 896 sqft · Built 1994 · Manufactured · Active · 55 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $811/mo
• Mortgage (P&I): −$315
• Tax + insurance: −$61
• HOA: −$150
• Vac / Maint / Mgmt: −$170
• Net cashflow: $115/mo
• Annual: $1,381/yr
• Cap rate: 8.59%
• Cash-on-cash: 8.22%
• DSCR: 1.37
• 1% rule: 1.35%
• Cash to close: $16,800

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $60k.
• At list price, monthly cash flow is $115 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($811 rent vs $60k).
• It's been on market 55 days — a 3% lower offer ($58k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $58k (3.0% below list) — sets the bar for market timing.
• In year one you build about $4k of equity ($415 loan paydown + $3k appreciation (5.7% local appreciation)).
• Location reads 69/100 on livability (#409 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• Brackett ISD (town): math 34% / reading 52% proficiency, ranked #363 of 826 in TX (top 44%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Jones Elementary/Intermediate School (math 42% / reading 47%, grade F, #1,155 of 4,322 statewide, top 29%, 266 students, 66% FRL); Brackett J H (math 32% / reading 47%, grade F, #660 of 1,662 statewide, top 41%, 122 students, 68% FRL); Brackett H S (math 15% / reading 74%, grade D-, #651 of 1,632 statewide, top 40%, 164 students, 59% FRL) — zoned schools at 64% FRL track the district average.
• Market conditions: 68 active listings in the ZIP; 2 units permitted in Kinney County in 2024 (0 in 5+ unit buildings).
• At projected returns (5.7% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 6→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 8.6% vs local median 3.0% in Fort Clark Springs — 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 55 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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.