106 Westlake Rd

Westwood Shores, TX 75862

$110,000F

3 bd · 2.0 ba · 2,048 sqft · Built 1985 · Manufactured · Active · 67 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,042/mo
• Mortgage (P&I): −$577
• Tax + insurance: −$255
• HOA: −$229
• Vac / Maint / Mgmt: −$219
• Net cashflow: $-238/mo
• Annual: $-2,852/yr
• Cap rate: 3.70%
• Cash-on-cash: -9.26%
• DSCR: 0.59
• 1% rule: 0.95%
• Cash to close: $30,800

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $110k.
• At list price, monthly cash flow is $-238 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $68k (38.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $104k (5.3% below list).
• It's been on market 67 days — a 6% lower offer ($103k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $68k (38.2% below list) — sets the bar for cash-flow.
• In year one you build about $192 of equity ($761 loan paydown + $-569 appreciation (-0.5% local appreciation)).
• Location reads 62/100 on livability (#914 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Trinity ISD (rural): math 27% / reading 29% proficiency, ranked #682 of 826 in TX (top 83%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Lansberry El (math 35% / reading 33%, grade F, #2,149 of 4,322 statewide, top 50%, 570 students, 91% FRL); Trinity J H (math 21% / reading 25%, grade F, #1,327 of 1,662 statewide, top 81%, 280 students, 91% FRL); Trinity H S (math 22% / reading 32%, grade F, #1,204 of 1,632 statewide, top 75%, 350 students, 84% FRL) — zoned schools average 89% FRL vs 50% district-wide (38 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: HOA is 22% of rent.
• Market conditions: 473 active listings in the ZIP; 1 units permitted in Trinity County in 2024 (0 in 5+ unit buildings).
• Trinity County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 5 sale attempts since 3y ago; this cycle's ask has dropped $15k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Climate carrying-cost: severe wind risk, 92% 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.

Questions for listing agent

• 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?
• It's been on market 67 days. Have you received any prior offers? Is the seller open to a 38% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• 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?
• 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.