2237 Fm 1182 · Ennis, TX 75119

$149,900

3 bd · 2.0 ba · 1,344 sqft · Manufactured public records · 593 Days on market

Manufactured home Built 1999 Good condition 0.70 ac lot $112/sqft · 37% below area Est $238k · 37% under ↓ 29% since listing

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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 +18.6/30.0
• ARV discount +15.0/15.0
• DSCR +5.9/10.0
• 1% rule +4.3/10.0
• Condition / age +4.0/5.0
• Schools +3.9/10.0
• Livability +3.6/5.0
• Rent growth +3.2/5.0
• Appreciation +2.5/10.0
• Manufactured-home adj. -4.9

Listing remarks MLS

Recently remodeled, 1344 sf, 3-bedroom 2-bathroom doublewide manufactured home situated on a 0.7 acre lot that is located southeast of Ennis. Recent improvements consist of granite counters, new cabinets, kitchen island, tiled backsplash, and vinyl plank floors....NOTE: The dwelling has been moved and is not eligible for FHA financing and recommend 21st Mortgage for financing.

Key facts

• Tiled backsplash
• New cabinets
• Kitchen island

Tags

• GRANITE COUNTERS
• NEW CABINETS
• KITCHEN ISLAND
• TILED BACKSPLASH
• VINYL PLANK FLOORS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $150k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $147 ($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 $139k (7.3% below list).
• Recommended offer: $132k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.5% vs local median 4.5% in Ennis — 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 71/100 on livability (#304 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: amenities F, commute F, health & safety F.
• Ennis ISD (rural): math 41% / reading 39% proficiency, ranked #411 of 826 in TX (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: David S Crockett Early Childhood Center (469 students, 82% FRL); Ennis J H (math 41% / reading 44%, grade D-, #553 of 1,662 statewide, top 34%, 886 students, 69% FRL); Ennis H S (math 37% / reading 34%, grade F, #941 of 1,632 statewide, top 58%, 1,791 students, 64% FRL).
• Market conditions: Rents rising (+3.0%/yr); 573 active listings in the ZIP; solid renter incomes; 3,016 units permitted in Ellis County in 2024 (20 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Ellis County population projected at +36% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 593 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $75k (33%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 66% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $131,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 593 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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.
6. 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.
7. 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: 0.93% ✗
• Cap rate: 7.47%
• Cash-on-cash: 4.20%
• DSCR: 1.19
• GRM: 9.0

CMA / ARV

• ARV (median comp): $238,000
• List price: $149,900
• Delta: -37.02%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2145 Fm 1182	0.18mi	2/1.0 (-1)	1,360 (+1%)	14mo	$325,000	$239	68
4311 Fm 85	0.27mi	3/2.0	1,320 (-2%)	28mo	$169,900	$129	64
131 Hopewell Rd	0.15mi	3/2.0	1,080 (-20%)	33mo	$195,000	$181	48
151 Hopewell Rd	0.19mi	3/2.0	960 (-29%)	48mo	$149,900	$156	46
5937 Fm 1181	2.07mi	3/2.0	1,341 (-0%)	23mo	$435,000	$324	45
428 Gentry Rd	1.52mi	4/2.0 (+1)	1,460 (+9%)	5mo	$257,000	$176	41
3675 Fm 85	1.46mi	3/2.0	1,568 (+17%)	2mo	$219,000	$140	38
922 Fm 1182	1.98mi	3/2.0	1,484 (+10%)	20mo	$400,000	$270	31
1666 Fm 1182	1.08mi	4/2.5 (+1)	1,694 (+26%)	13mo	$350,000	$207	22
252 Barker Rd	2.05mi	3/2.0	1,680 (+25%)	32mo	$380,000	$226	20

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 · 2.95% rent growth · sell at horizon

5-year hold

• IRR: -9.8%
• Equity multiple: 0.64×
• Total profit: $-15,044
• Equity at exit: $22,351

10-year hold

• IRR: -0.5%
• Equity multiple: 0.96×
• Total profit: $-1,477
• Equity at exit: $12,961

Cash invested: $41,972 (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 →

Active competition Active MLS

• For sale now: 1 active
• Median asking: $320,000 ($204/sqft)
• Median days on market: 29 d
• This list price: lowest-priced of the active set
• ARV vs active asking: -13.2% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 75119

• Rents YoY: 3.0%
• Active inventory: 573
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,390 medium
• Mortgage (P&I): −$786
• Tax from tax record: −$103 /mo · $1,232/yr
• Insurance: −$62
• HOA: −$0
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$292
• Net cashflow: $147

Break-even live

Break-even rent $1,204

Max offer price $149,900

Occupancy floor 84%

Sensitivity live

Price	-10% $232	-5% $189	+0% $147	+5% $104	+10% $62
Rent	-10% $37	-5% $92	+0% $147	+5% $202	+10% $257
Rate	-1.0pp $222	-0.5pp $185	base $147	+0.5pp $108	+1.0pp $68

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: $37,475
• Closing costs: $4,497
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-09-23
   days on market $149,900 Active 593 DOM
2. 2026-09-22
   days on market $149,900 Active 592 DOM
3. 2026-09-21
   days on market $149,900 Active 591 DOM
4. 2026-09-20
   days on market $149,900 Active 590 DOM
5. 2026-09-19
   days on market $149,900 Active 589 DOM
6. 2026-09-18
   days on market $149,900 Active 588 DOM
7. 2026-09-17
   days on market $149,900 Active 587 DOM
8. 2026-09-16
   days on market $149,900 Active 586 DOM
9. 2026-09-15
   days on market $149,900 Active 585 DOM
10. 2026-09-14
    days on market $149,900 Active 584 DOM
11. 2026-09-13
    days on market $149,900 Active 583 DOM
12. 2026-09-12
    days on market $149,900 Active 582 DOM
13. 2026-09-11
    days on market $149,900 Active 581 DOM
14. 2026-09-05
    days on market $149,900 Active 575 DOM
15. 2026-09-04
    days on market $149,900 Active 574 DOM
16. 2026-09-02
    days on market $149,900 Active 572 DOM
17. 2026-08-31
    days on market $149,900 Active 570 DOM
18. 2026-08-30
    days on market $149,900 Active 569 DOM
19. 2026-08-29
    days on market $149,900 Active 568 DOM
20. 2026-08-28
    days on market $149,900 Active 567 DOM
21. 2026-08-27
    days on market $149,900 Active 566 DOM
22. 2026-08-25
    days on market $149,900 Active 564 DOM
23. 2026-08-24
    days on market $149,900 Active 563 DOM
24. 2026-08-23
    days on market $149,900 Active 562 DOM
25. 2026-08-22
    days on market $149,900 Active 561 DOM
26. 2026-08-21
    days on market $149,900 Active 560 DOM
27. 2026-08-20
    days on market $149,900 Active 559 DOM
28. 2026-08-19
    days on market $149,900 Active 558 DOM
29. 2026-08-18
    days on market $149,900 Active 557 DOM
30. 2026-08-17
    days on market $149,900 Active 556 DOM
31. 2026-08-16
    days on market $149,900 Active 555 DOM
32. 2026-08-15
    days on market $149,900 Active 554 DOM
33. 2026-08-14
    days on market $149,900 Active 553 DOM
34. 2026-08-13
    days on market $149,900 Active 552 DOM
35. 2026-08-12
    days on market $149,900 Active 551 DOM
36. 2026-08-11
    days on market $149,900 Active 550 DOM
37. 2026-08-10
    days on market $149,900 Active 549 DOM
38. 2026-08-09
    days on market $149,900 Active 548 DOM
39. 2026-08-08
    days on market $149,900 Active 547 DOM
40. 2026-08-06
    days on market $149,900 Active 545 DOM
41. 2026-08-05
    days on market $149,900 Active 544 DOM
42. 2026-08-04
    pricedays on market $149,900 Active 543 DOM
43. 2026-08-03
    days on market $159,000 Active 542 DOM
44. 2026-07-31
    days on market $159,000 Active 539 DOM
45. 2026-07-30
    days on market $159,000 Active 537 DOM
46. 2026-07-28
    days on market $159,000 Active 536 DOM
47. 2026-07-26
    days on market $159,000 Active 534 DOM
48. 2026-07-24
    days on market $159,000 Active 532 DOM
49. 2026-07-23
    days on market $159,000 Active 531 DOM
50. 2026-07-22
    days on market $159,000 Active 530 DOM

ⓘ 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: $1,232 · $103/mo
• Projected year-2 tax: $2,743 · $229/mo
• Expected delta: +$1,512/yr (+$126/mo · 122.7%)

ⓘ 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 ≥109°F today · 26 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 66% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,678
• − Mortgage interest: −$8,397
• − Property taxes: −$1,232
• − Insurance: −$750
• − Repairs & maintenance: −$1,334
• − Management: −$1,334
• − Depreciation: −$4,361
• Taxable loss: −$729
• Est. tax savings @ 24.0%: +$175
• After-tax cash flow: $1,936/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 · 8 photos

Good 80/100 Cosmetic rehab Est. rehab $6,720–$20,160 screening

This recently remodeled doublewide manufactured home is in good condition with recent improvements, making it a good investment for both resale and rental markets.

Value-add opportunities

• Both Painting exterior and interior walls — Enhances curb appeal and interior aesthetics. ↑
• Both Landscaping and curb appeal improvements — Improves curb appeal and enhances property value. ↑
• Both Add a small front porch or entryway — Enhances curb appeal and provides a welcoming entrance. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 39/100

Zoned Schools

Elementary David S Crockett Early Childhood Center Middle Ennis J H D- TX #553/1,662 Nat'l #5,285/14,009 High Ennis H S F TX #941/1,632 Nat'l #9,497/17,239

Schools (NCES district)

• District: Ennis ISD
• NCES district ID: 4818540
• Math proficiency: 41% ▼ -6.00%
• Reading proficiency: 39% ▼ -3.00%
• Median HH income: $46,105
• Composite: 34.14/100
• National rank: #5283
• State rank: #411 of 826 in TX

B Composite livability gradescore 71/100

Livability — Ennis

• Score: 71/100
• State rank: #304
• US rank: #6893

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Ellis County · 194,556 people
• City population: 31,866
• Metro: Dallas-Fort Worth-Arlington, TX
• Population (ZIP): 31,866
• Household income: $77,053
• Rent vs Own: 31.1% rent · 68.9% own
• Severe rent burden: 11% of renters

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Population outlook (Ellis County) Hauer SSP2

• Today (2025): 194,556 people
• By 2030: 209,679 · +7.8%
• By 2040: 238,837 · +22.8%
• By 2050: 265,451 · +36.4%
• By 2075: 326,571 · +67.9%
• By 2100: 362,156 · +86.1%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 47% Hispanic / Latino 41% Two or more races 13% Black 9%
• Hispanic origin (detail): Mexican 37%
• Common ancestry: Slovak 1% Serbian 1% Italian 1%
• Foreign-born: 15% · Canada
• Languages at home: 69% English-only · Spanish 29% Other Indo-European 1%

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Political lean MEDSL · Ellis

• 2024 margin: Solid R (+31.1) · D 34.0% · R 65.1%
• 2008→2024 swing: +11.2pp toward D · 2008: -42.2pp · 2024: -31.1pp
• All cycles: 2024: R+31.1 2020: R+34.1 2016: R+45.4 2012: R+47.5 2008: R+42.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -207.30%
• Current HPI: 253.0134
• Rent YoY: ▲ 2.95%
• Metro: Dallas-Fort Worth-Arlington, TX
• State GDP YoY: ▲ 3.95%
• F500 in state: 110

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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

-29.3% since first listed

10 events — show timeline

• 2026-03-03 Price Changed $159,000 NTREIS
• 2026-02-03 Price Changed $162,500 NTREIS
• 2025-11-05 Price Changed $169,000 NTREIS
• 2025-08-14 Price Changed $180,000 NTREIS
• 2025-06-03 Price Changed $190,000 NTREIS
• 2025-05-19 Price Changed $200,000 NTREIS
• 2025-04-18 Price Changed $209,000 NTREIS
• 2025-03-21 Relisted — NTREIS
• 2025-03-20 Contingent — NTREIS
• 2025-02-07 Listed $225,000 NTREIS