229 N 2nd St · Walnut Springs, TX 76690

$125,000

3 bd · 2.0 ba · 1,216 sqft · Manufactured · 395 Days on market

Built 2000 0.29 ac lot

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Why this score? — see what drove the D 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 +12.7/30.0
• ARV discount +7.5/15.0
• Appreciation +6.6/10.0
• DSCR +3.8/10.0
• 1% rule +3.6/10.0
• Livability +2.9/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Step into a new chapter filled with country charm in this beautifully updated 3-bedroom, 2-bathroom mobile home on over a quarter-acre lot. The primary suite boasts a spacious ensuite bathroom with a luxurious soaker tub and separate shower. The kitchen offers ample room and abundant cabinet space, flowing into the open living area with lots of built-in cabinetry. Enjoy peaceful evenings watching the sunset from the expansive front porch, or host unforgettable gatherings in the wide-open backyard. Don’t miss out on this one—Owner Financing is available, keeping your dream home within reach!

Key facts

• Built-in cabinetry
• Open living area
• Luxurious soaker tub

Tags

• SPACIOUS ENSUITE BATHROOM
• LUXURIOUS SOAKER TUB
• OPEN LIVING AREA
• BUILT-IN CABINETRY
• EXPANSIVE FRONT PORCH
• WIDE-OPEN BACKYARD

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $125k.

Deal economics

• At list price, monthly cash flow is $-13 ($-158/yr) — negative.
• To cash-flow at today's rent, offer at most $123k (1.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $108k (13.9% below list).
• Recommended offer: $108k (13.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 57/100 on livability (#1,239 in TX) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: health & safety D+, schools F, crime F.
• Walnut Springs ISD (rural): math 30% / reading 30% proficiency, ranked #1,019 of 1,141 in TX (top 89%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 73% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 46 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 15 units permitted in Bosque County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($864 loan paydown + $4k appreciation (3.1% local appreciation)).
• Bosque County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.1% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 395 days — a 12% lower offer ($110k) is reasonable based on typical stale-listing flexibility.
• 14 sale attempts since 4y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $107,683 (13.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 395 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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.

Investment metrics

• 1% rule: 0.86% ✗
• Cap rate: 6.17%
• Cash-on-cash: -0.45%
• DSCR: 0.98
• GRM: 9.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.15% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 7.5%
• Equity multiple: 1.44×
• Total profit: $15,257
• Equity at exit: $57,291

10-year hold

• IRR: 10.2%
• Equity multiple: 2.55×
• Total profit: $54,271
• Equity at exit: $89,145

Cash invested: $35,000 (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 76690

• Home prices YoY: 1.8%
• Active inventory: 46
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $1,077 medium
• Mortgage (P&I): −$656
• Tax est. 1.5%: −$156 /mo · $1,875/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$226
• Net cashflow: $-13

Break-even live

Break-even rent $1,093

Max offer price $123,097

Occupancy floor 96%

Sensitivity live

Price	-10% $73	-5% $30	+0% $-13	+5% $-56	+10% $-100
Rent	-10% $-98	-5% $-56	+0% $-13	+5% $29	+10% $72
Rate	-1.0pp $50	-0.5pp $19	base $-13	+0.5pp $-46	+1.0pp $-78

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
201 E Finland St Walnut Springs, TX	3.0	1.0	1376	$900	$0.65	44d	1	0.37mi
116 Kentucky St Walnut Springs, TX	3.0	2.0	1476	$1,450	$0.98	7d	1	0.74mi

Listing history 37 events

1. 2026-06-18
   days on market $125,000 Active 395 DOM
2. 2026-06-17
   days on market $125,000 Active 394 DOM
3. 2026-06-16
   days on market $125,000 Active 393 DOM
4. 2026-06-15
   days on market $125,000 Active 392 DOM
5. 2026-06-15
   days on market $125,000 Active 391 DOM
6. 2026-06-13
   days on market $125,000 Active 390 DOM
7. 2026-06-12
   days on market $125,000 Active 389 DOM
8. 2026-06-09
   days on market $125,000 Active 386 DOM
9. 2026-06-08
   days on market $125,000 Active 385 DOM
10. 2026-06-08
    days on market $125,000 Active 384 DOM
11. 2026-06-05
    days on market $125,000 Active 382 DOM
12. 2026-06-03
    days on market $125,000 Active 380 DOM
13. 2026-06-02
    days on market $125,000 Active 379 DOM
14. 2026-06-01
    days on market $125,000 Active 378 DOM
15. 2026-05-31
    days on market $125,000 Active 377 DOM
16. 2026-02-09
    status Active 609-char remark

    Show marketing remark (609 chars)

    Step into a new chapter filled with country charm in this beautifully updated 3-bedroom, 2-bathroom mobile home on over a quarter-acre lot. The primary suite boasts a spacious ensuite bathroom with a luxurious soaker tub and separate shower. The kitchen offers ample room and abundant cabinet space, flowing into the open living area with lots of built-in cabinetry. Enjoy peaceful evenings watching the sunset from the expansive front porch, or host unforgettable gatherings in the wide-open backyard. Don’t miss out on this one—Owner Financing is available, keeping your dream home within reach!

17. 2026-02-08
    historical 609-char remark

    Show marketing remark (609 chars)

    Step into a new chapter filled with country charm in this beautifully updated 3-bedroom, 2-bathroom mobile home on over a quarter-acre lot. The primary suite boasts a spacious ensuite bathroom with a luxurious soaker tub and separate shower. The kitchen offers ample room and abundant cabinet space, flowing into the open living area with lots of built-in cabinetry. Enjoy peaceful evenings watching the sunset from the expansive front porch, or host unforgettable gatherings in the wide-open backyard. Don’t miss out on this one—Owner Financing is available, keeping your dream home within reach!

18. 2025-07-02
    status Active 609-char remark

    Show marketing remark (609 chars)

    Step into a new chapter filled with country charm in this beautifully updated 3-bedroom, 2-bathroom mobile home on over a quarter-acre lot. The primary suite boasts a spacious ensuite bathroom with a luxurious soaker tub and separate shower. The kitchen offers ample room and abundant cabinet space, flowing into the open living area with lots of built-in cabinetry. Enjoy peaceful evenings watching the sunset from the expansive front porch, or host unforgettable gatherings in the wide-open backyard. Don’t miss out on this one—Owner Financing is available, keeping your dream home within reach!

19. 2025-04-18
    historical
20. 2025-02-13
    listed $125,000 Active
21. 2025-02-08
    listed $125,000 Active 609-char remark

    Show marketing remark (609 chars)

    Step into a new chapter filled with country charm in this beautifully updated 3-bedroom, 2-bathroom mobile home on over a quarter-acre lot. The primary suite boasts a spacious ensuite bathroom with a luxurious soaker tub and separate shower. The kitchen offers ample room and abundant cabinet space, flowing into the open living area with lots of built-in cabinetry. Enjoy peaceful evenings watching the sunset from the expansive front porch, or host unforgettable gatherings in the wide-open backyard. Don’t miss out on this one—Owner Financing is available, keeping your dream home within reach!

22. 2024-05-06
    historical
23. 2024-04-12
    listed $124,500
24. 2024-04-12
    listed $124,900 Active
25. 2023-08-28
    historical
26. 2023-08-14
    historical
27. 2023-08-11
    listed $129,000 Active
28. 2023-07-20
    listed
29. 2023-07-19
    listed $129,000
30. 2023-02-21
    price $99,000
31. 2023-01-25
    listed $125,000 Active
32. 2023-01-17
    historical
33. 2022-12-07
    listed $125,000
34. 2022-10-20
    historical
35. 2022-10-18
    listed $125,000 Active
36. 2022-06-21
    listed $110,000 Active
37. 2022-06-20
    listed $110,000

ⓘ 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 6/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥107°F today · 20 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $12,922
• − Mortgage interest: −$7,002
• − Property taxes: −$1,875
• − Insurance: −$625
• − Repairs & maintenance: −$1,034
• − Management: −$1,034
• − Depreciation: −$3,636
• Taxable loss: −$2,284
• Est. tax savings @ 24.0%: +$548
• After-tax cash flow: $390/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.

Schools (NCES district)

• District: Walnut Springs ISD
• NCES district ID: 4844520
• Math proficiency: 30% ▲ 5.00%
• Reading proficiency: 30% ▬ 0.00%
• Median HH income: $40,231
• Composite: 28.1/100
• National rank: #12220
• State rank: #1019 of 1141 in TX

Livability — Walnut Springs

• Score: 57/100
• State rank: #1239
• US rank: #21675

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment F Housing A+ Health & safety D+ User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Walnut Springs, TX
• Population (ZIP): 1,280

Population outlook (Bosque County) Hauer SSP2

• Today (2025): 17,405 people
• By 2030: 16,953 · -2.6%
• By 2040: 16,014 · -8.0%
• By 2050: 15,116 · -13.2%
• By 2075: 13,468 · -22.6%
• By 2100: 11,147 · -36.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Hispanic / Latino 26% Two or more races 20%
• Hispanic origin (detail): Mexican 25%
• Common ancestry: Italian 2%
• Foreign-born: 8% · Canada
• Languages at home: 85% English-only · Spanish 14%

Political lean MEDSL · Bosque

• 2024 margin: Solid R (+67.3) · D 15.9% · R 83.3%
• 2008→2024 swing: -15.5pp toward R · 2008: -51.9pp · 2024: -67.3pp
• All cycles: 2024: R+67.3 2020: R+64.7 2016: R+64.7 2012: R+61.4 2008: R+51.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.15%
• Current HPI: 180.4906
• Rent YoY: —
• Metro: —
• 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

+13.6% since first listed

22 events — show timeline

• 2026-02-09 Relisted — NTREIS
• 2026-02-08 Listing Removed — NTREIS
• 2025-07-02 Relisted — NTREIS
• 2025-04-18 Listing Removed — NTREIS
• 2025-02-13 Listed $125,000 NTREIS
• 2025-02-08 Listed $125,000 NTREIS
• 2024-05-06 Listing Removed — NTREIS
• 2024-04-12 Listed $124,900 NTREIS
• 2024-04-12 Listed $124,500 NTREIS
• 2023-08-28 Listing Removed — NTREIS
• 2023-08-14 Rental Removed — APPFOLIO
• 2023-08-11 Listed $129,000 NTREIS
• 2023-07-20 Listed for Rent — APPFOLIO
• 2023-07-19 Listed $129,000 NTREIS
• 2023-02-21 Price Changed $99,000 NTREIS
• 2023-01-25 Listed $125,000 NTREIS
• 2023-01-17 Listing Removed — NTREIS
• 2022-12-07 Listed $125,000 NTREIS
• 2022-10-20 Listing Removed — NTREIS
• 2022-10-18 Listed $125,000 NTREIS
• 2022-06-21 Listed $110,000 NTREIS
• 2022-06-20 Listed $110,000 NTREIS