9060 County Road 309

Jewett, TX 75831

$135,000C

3 bd · 2.0 ba · 1,680 sqft · Built 2013 · Manufactured · Pending · 180 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,186/mo
• Mortgage (P&I): −$708
• Tax + insurance: −$86
• HOA: −$0
• Vac / Maint / Mgmt: −$249
• Net cashflow: $143/mo
• Annual: $1,711/yr
• Cap rate: 7.56%
• Cash-on-cash: 4.53%
• DSCR: 1.20
• 1% rule: 0.88%
• Cash to close: $37,800

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $135k.
• At list price, monthly cash flow is $143 ($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 $119k (12.2% below list).
• It's been on market 180 days — a 12% lower offer ($119k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $119k (12.2% below list) — sets the bar for 1% rule.
• In year one you build about $7k of equity ($933 loan paydown + $6k appreciation (4.3% local appreciation)).
• Location reads 58/100 on livability (#1,223 in TX) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: housing D, crime F, amenities F.
• Buffalo ISD (rural): math 48% / reading 45% proficiency, ranked #246 of 826 in TX (top 30%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Buffalo H S (math 62% / reading 52%, grade C, #333 of 1,632 statewide, top 22%, 316 students, 62% FRL).
• Market conditions: 102 active listings in the ZIP.
• At projected returns (4.3% appreciation + 3.0% rent growth), your $38k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 180 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 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?
• 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.