528 Meandering Way · Fate, TX 75189

$85,000

1 bd · 1.0 ba · 1,216 sqft · Manufactured public records · 2 Days on market

Built 1994 1.19 ac lot Est $85k · at est.

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.6/15.0
• Schools +5.0/10.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 528 Meandering Way, a charming property located in the peaceful and desirable Smith Acres neighborhood. This spacious 1+ ACRE lot offers ample room for buyers seeking a quiet, suburban lifestyle with plenty of potential for growth. The current home is in habitable condition, providing a wonderful opportunity for renovation or for those interested in building a new home or placing a manufactured home on-site. This property is cherished for its tranquility, privacy, and generous outdoor space, perfect for activities such as gardening, entertaining, or future expansion. Whether you want to personalize the existing home or start fresh with new construction, the possibilities are endl

Key facts

• Habitable condition
• 1 acre lot
• 1.19 acre lot

Tags

• 1 ACRE LOT
• HABITABLE CONDITION
• GENEROUS OUTDOOR SPACE

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath manufactured listed at $85k.

Deal economics

• At list price, monthly cash flow is $920 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $85k).
• Cap rate 19.3% vs local median 3.3% in Fate — 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 72/100 on livability (#246 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, health & safety D-.
• Rockwall ISD (suburban): math 54% / reading 54% proficiency, ranked #83 of 826 in TX (top 10%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Dorris A Jones El (math 47% / reading 33%, grade F, #1,514 of 4,322 statewide, top 36%, 638 students, 64% FRL) — zoned schools average 64% FRL vs 24% district-wide (40 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 40% at this address vs 54% district-wide (-14 pts) — the specific schools serving this property underperform the Rockwall ISD average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-1.1%/yr); 1288 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 1,810 units permitted in Rockwall County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $588 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Rockwall County population projected at +56% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $24k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $85,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 2.13% ✓
• Cap rate: 19.29%
• Cash-on-cash: 46.40%
• DSCR: 3.06
• GRM: 3.9

CMA / ARV

• ARV (on-the-fly): $85,120
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
528 Meandering Way	0.00mi	1/1.0	1,216 (0%)	1mo	$85,000	$70	99

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 40.4%
• Equity multiple: 2.66×
• Total profit: $39,521
• Equity at exit: $12,674

10-year hold

• IRR: 45.3%
• Equity multiple: 4.75×
• Total profit: $89,330
• Equity at exit: $7,349

Cash invested: $23,800 (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 75189

• Home prices YoY: -25.0%
• Rents YoY: -1.1%
• Active inventory: 1288
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $1,807 high
• Mortgage (P&I): −$446
• Tax from tax record: −$26 /mo · $316/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$380
• Net cashflow: $920

Break-even live

Break-even rent $642

Max offer price $85,000

Occupancy floor 44%

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
255 Williamsburg Pkwy Fate, TX	1.0	1.0	818	$1,675	$2.05	44d	1	1.27mi
255 Williamsburg Pkwy Fate, TX	2.0	2.0	1191	$1,825	$1.53	2d	1	1.27mi
255 Williamsburg Pkwy Fate, TX	1.0	1.0	818	$1,635	$2.00	2d	1	1.27mi
255 Williamsburg Pkwy Fate, TX	2.0	2.0	1191	$2,350	$1.97	24d	1	1.27mi
375 W Greenbriar Rd Fate, TX	1.0–2.0	1.0–2.0	961	$1,505	$1.57	1d	43	1.39mi

Listing history 3 events

1. 2026-04-17
   status Pending
2. 2026-04-16
   historical Active Option Contract
3. 2026-04-15
   listed $85,000 Active

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

Tax reassessment forecast TX · Resets to sale price

• Current annual tax: $316 · $26/mo
• Projected year-2 tax: $1,556 · $130/mo
• Expected delta: +$1,240/yr (+$103/mo · 392.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥110°F today · 24 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,687
• − Mortgage interest: −$4,761
• − Property taxes: −$316
• − Insurance: −$425
• − Repairs & maintenance: −$1,735
• − Management: −$1,735
• − Depreciation: −$2,473
• Taxable income: $10,243
• Est. tax owed @ 24.0%: −$2,458
• After-tax cash flow: $8,585/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: Rockwall ISD
• NCES district ID: 4837650
• Math proficiency: 54% ▼ -13.00%
• Reading proficiency: 54% ▼ -8.00%
• Median HH income: $88,800
• Composite: 49.82/100
• National rank: #1952
• State rank: #83 of 826 in TX

Livability — Fate

• Score: 72/100
• State rank: #246
• US rank: #5864

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Rockwall County · 132,930 people
• Metro: Dallas-Fort Worth-Arlington, TX
• Population (ZIP): 48,739
• Household income: $117,125
• Rent vs Own: 11.5% rent · 88.5% own
• Severe rent burden: 569.0

Population outlook (Rockwall County) Hauer SSP2

• Today (2025): 118,396 people
• By 2030: 132,209 · +11.7%
• By 2040: 159,538 · +34.7%
• By 2050: 185,299 · +56.5%
• By 2075: 243,489 · +105.7%
• By 2100: 277,814 · +134.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 60% Hispanic / Latino 25% Two or more races 12% Black 10% Asian 2%
• Hispanic origin (detail): Mexican 20%
• Common ancestry: Slovak 2% Serbian 1% Lithuanian 1%
• Foreign-born: 10% · Canada, Philippines, Jamaica
• Languages at home: 80% English-only · Spanish 15% Other Indo-European 1%

Political lean MEDSL · Rockwall

• 2024 margin: Solid R (+40.9) · D 29.1% · R 70.0%
• 2008→2024 swing: +5.3pp toward D · 2008: -46.2pp · 2024: -40.9pp
• All cycles: 2024: R+40.9 2020: R+37.7 2016: R+47.5 2012: R+53.3 2008: R+46.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -71.10%
• Current HPI: 212.8422
• Rent YoY: ▼ -1.13%
• Metro: Dallas-Fort Worth-Arlington, 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

3 events — show timeline

• 2026-04-17 Pending — NTREIS
• 2026-04-16 Contingent — NTREIS
• 2026-04-15 Listed $85,000 NTREIS

Property tax history

-1.5%/yr

Latest (2025): $316 · +3.4% YoY. Source: county tax records.