306 Manuel Dr Unit A-D · College Station, TX 77840

$444,900

24 bd · 16.0 ba · 3,026 sqft · MultiFamily · 37 Days on market

Built 1981 Fair condition 10,746 sqft lot $147/sqft · at area comps Est $445k · at est.

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Why this score? — see what drove the C 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 +21.7/30.0
• ARV discount +7.5/15.0
• DSCR +6.9/10.0
• 1% rule +5.7/10.0
• Schools +4.7/10.0
• Livability +4.2/5.0
• Rent growth +4.1/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks

Prime College Station Investment Opportunity Near Wolf Pen Creek! > Welcome to 306 Manuel Drive, an exceptional fourplex perfectly positioned in the heart of College Station. This property offers an optimal, easy-to-rent unit mix consisting of two spacious 2-bedroom/1-bathroom units and two comfortable 1-bedroom/1-bathroom units. Property Highlights: Outdoor Living: The highly desirable downstairs units feature private, fenced small yards and outdoor decks, providing premium outdoor space for tenants. Interior Features: Designed for durability and modern appeal, units feature easy-to-maintain vinyl wood flooring throughout the main living spaces. Functional Layouts: Each unit includes a

Key facts

• Vinyl wood flooring
• Outdoor decks
• 0.25 acre lot

Tags

• PRIVATE FENCED SMALL YARDS
• OUTDOOR DECKS
• VINYL WOOD FLOORING
• DEDICATED LAUNDRY ROOM
• GRANITE AND TILE COUNTERTOPS

Property features AI

Finance

• Financial info: Current rents reported: two 1-bed units at $775 and $795; two 2-bed units at $925 and $795

Exterior

• Parking: Paved parking with 8 total spaces
• Home design: Residential income property; Quadruplex
• Construction: Brick and other construction materials
• Exterior features: Privacy fence; Wood fence; Composition roof

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: Two 1-bedroom units; Two 2-bedroom units
• Flooring: Vinyl; Other
• Bathrooms: Four 1-bath units
• Heating & cooling: Central electric heating
• Interior features: Unfurnished; Privacy and wood fencing
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2×2bd/1ba + 2×1bd/1ba units multifamily listed at $445k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $682 ($8k/yr) — positive. Per door: $170/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $445k).
• Recommended offer: $432k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.1% vs local median 3.3% in College Station — 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 83/100 on livability (#11 in TX, #994 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, crime A-; Watch: employment C-.
• College Station ISD (urban): math 58% / reading 54% proficiency, ranked #113 of 826 in TX (top 14%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+6.2%/yr); 305 active listings in the ZIP; lower-income renter base — watch delinquency; 2,211 units permitted in Brazos County in 2024 (768 in 5+ unit buildings).
• At $4,755/mo this rent would consume 188% of the median local household income ($30k/yr) (locally 8224% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.
• Brazos County population projected at +55% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 6.2% rent growth), your $125k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($432k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $431,553 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.07% ✓
• Cap rate: 8.13%
• Cash-on-cash: 6.57%
• DSCR: 1.29
• GRM: 7.8

CMA / ARV

• ARV (median comp): $445,000
• List price: $444,900
• Delta: -0.02%
• Verdict: FAIR
• Comps: 3 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 6.24% rent growth · sell at horizon

5-year hold

• IRR: -2.6%
• Equity multiple: 0.90×
• Total profit: $-12,590
• Equity at exit: $66,336

10-year hold

• IRR: 10.4%
• Equity multiple: 1.93×
• Total profit: $115,445
• Equity at exit: $38,467

Cash invested: $124,572 (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 77840

• Rents YoY: 6.2%
• Active inventory: 305
• Price-to-rent: 29.1×

Monthly cashflow live

• Estimated rent: $4,755 high
• Mortgage (P&I): −$2,333
• Tax est. 1.5%: −$556 /mo · $6,674/yr
• Insurance: −$185
• HOA: −$0
• Vacancy / Maint / Mgmt: −$999
• Net cashflow: $682

Break-even live

Break-even rent $3,892

Max offer price $444,900

Occupancy floor 81%

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,548
▸ 2× units	1	1	$2,206
Total (4 units)			$4,755

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: $111,225
• Closing costs: $13,347
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $444,900 Active 37 DOM
2. 2026-06-17
   days on market $444,900 Active 36 DOM
3. 2026-06-16
   days on market $444,900 Active 35 DOM
4. 2026-06-15
   days on market $444,900 Active 34 DOM
5. 2026-06-14
   days on market $444,900 Active 32 DOM
6. 2026-06-13
   days on market $444,900 Active 31 DOM
7. 2026-06-10
   days on market $444,900 Active 29 DOM
8. 2026-06-09
   days on market $444,900 Active 28 DOM
9. 2026-06-08
   days on market $444,900 Active 27 DOM
10. 2026-06-07
    days on market $444,900 Active 26 DOM
11. 2026-06-05
    days on market $444,900 Active 23 DOM
12. 2026-06-02
    days on market $444,900 Active 21 DOM
13. 2026-06-01
    days on market $444,900 Active 20 DOM
14. 2026-05-31
    days on market $444,900 Active 19 DOM
15. 2026-05-30
    pricedays on market $444,900 Active 18 DOM
16. 2026-05-12
    listed $435,000 Active 1469-char remark

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥110°F today · 24 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $57,060
• − Mortgage interest: −$24,921
• − Property taxes: −$6,674
• − Insurance: −$2,224
• − Repairs & maintenance: −$4,565
• − Management: −$4,565
• − Depreciation: −$12,943
• Taxable income: $1,169
• Est. tax owed @ 24.0%: −$280
• After-tax cash flow: $7,902/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This fourplex requires moderate renovations to update the kitchens and bathrooms, and some landscaping improvements to enhance curb appeal.

Repairs flagged

• Moderate kitchen cabinets — dated and in need of replacement
• Moderate bathroom cabinets — dated and in need of replacement
• Minor landscaping — overgrown areas need trimming

Value-add opportunities

• Both update kitchen cabinets — modernizing the kitchen would appeal to both buyers and renters
• Both update bathroom cabinets — modernizing the bathrooms would appeal to both buyers and renters
• Rental landscaping improvements — improved landscaping would attract tenants

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and in need of replacement	Moderate	$3,000–15,000
bathroom cabinets · dated and in need of replacement	Moderate	$3,000–15,000
landscaping · overgrown areas need trimming	Minor	$500–3,000
Total estimated repair cost · 3 items		$6,500–33,000

Value-add ROI direction

• Both update kitchen cabinets — modernizing the kitchen would appeal to both buyers and renters ↑
• Both update bathroom cabinets — modernizing the bathrooms would appeal to both buyers and renters ↑
• Rental landscaping improvements — improved landscaping would attract tenants ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: College Station ISD
• NCES district ID: 4807350
• Math proficiency: 58% ▼ -4.00%
• Reading proficiency: 54% ▼ -2.00%
• Median HH income: $36,991
• Composite: 46.54/100
• National rank: #2428
• State rank: #113 of 826 in TX

Livability — College Station

• Score: 83/100
• State rank: #11
• US rank: #994

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: College Station, TX
• County: Brazos County · 233,400 people
• City population: 131,628
• Metro: College Station-Bryan, TX
• Population (ZIP): 54,864
• Household income: $30,377
• Rent vs Own: 89.7% rent · 10.3% own
• Severe rent burden: 8224.0

Population outlook (Brazos County) Hauer SSP2

• Today (2025): 267,942 people
• By 2030: 296,630 · +10.7%
• By 2040: 354,560 · +32.3%
• By 2050: 414,616 · +54.7%
• By 2075: 562,158 · +109.8%
• By 2100: 678,828 · +153.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: White 55% Hispanic / Latino 20% Two or more races 11% Black 11% Asian 9%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Romanian 2% Lithuanian 2% Italian 2%
• Foreign-born: 14% · Canada, China, South Korea
• Languages at home: 77% English-only · Spanish 12% Other Indo-European 3% Chinese 2%

Political lean MEDSL · Brazos

• 2024 margin: Strong R (+24.9) · D 36.9% · R 61.7% · Other 1.4%
• 2008→2024 swing: +4.1pp toward D · 2008: -28.9pp · 2024: -24.9pp
• All cycles: 2024: R+24.9 2020: R+14.3 2016: R+23.7 2012: R+35.3 2008: R+28.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -155.15%
• Current HPI: 195.2885
• Rent YoY: ▲ 6.24%
• Metro: College Station-Bryan, 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

+2.3% since first listed

2 events — show timeline

• 2026-05-29 Price Changed $444,900 BCSRMLS
• 2026-05-12 Listed $435,000 BCSRMLS