1684 Gale Dr · Pelican Bay, TX 76020

$140,000

3 bd · 2.0 ba · 924 sqft · Manufactured public records · 3 Days on market

Built 2014 7,362 sqft lot Est $126k · 11% over

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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 +25.6/30.0
• DSCR +8.5/10.0
• 1% rule +5.9/10.0
• Schools +3.6/10.0
• Rent growth +3.1/5.0
• Livability +3.1/5.0
• Condition / age +2.5/5.0
• ARV discount +2.4/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Perfect lot for your mobile! . 1688 of an acre. .. With Septic!!!! Go and Show!!

Key facts

• 2 car carport
• Storage shed
• Lake access

Tags

• OPEN CONCEPT FLOOR PLAN
• 2 CAR CARPORT
• STORAGE SHED
• NO HOMES BUILT BEHIND
• MATURE TREES
• LAKE ACCESS

Property features AI

Finance

• Other: Property is residential, not attached, no accessory unit; Lot approximately 0.169 acre (less than 0.5 acre); Subdivision: Pelican Bay Tenth Filing
• Financial info: Accepts Cash, Conventional, FHA, and VA financing; Treat as clear loan type; No second mortgage
• HOA & community: No association

Exterior

• Parking: Covered carport (2 spaces)
• Security: Fire alarm
• Utilities: City water; City sewer; Electricity connected; Cable available
• Home design: Manufactured home; Single-story
• Construction: Built in 2014; Vinyl siding; Asphalt roof
• Exterior features: Deck; Cleared lot with few trees

Interior

• Kitchen: Built-in cabinets; Eat-in kitchen; Electric range; Dishwasher; Refrigerator; Electric water heater
• Bedrooms: 3 bedrooms (all on level 1)
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Central air conditioning; Electric cooling components
• Interior features: Open floorplan; Eat-in kitchen; One living area; One dining area; Room count: 4
• Laundry & utility: Full-size washer/dryer area; Washer hookup; Electric dryer hookup; Utility room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $140k.

Deal economics

• At list price, monthly cash flow is $333 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Cap rate 9.1% vs local median 6.4% in Pelican Bay — 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 62/100 on livability (#917 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: health & safety D+, schools F, amenities F.
• Azle ISD (suburban): math 37% / reading 43% proficiency, ranked #351 of 826 in TX (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.3%/yr); 596 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 18,938 units permitted in Tarrant County in 2024 (8,336 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $968 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Tarrant County population projected at +41% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 12y 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.
• Current owner paid $9k; list at $140k implies a 1402% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $140,000

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 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?
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: 1.09% ✓
• Cap rate: 9.15%
• Cash-on-cash: 10.19%
• DSCR: 1.45
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $125,664
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1800 Pelican NONE E	0.13mi	2/1.0 (-1)	840 (-9%)	11mo	$114,000	$136	61
1509 Pelican Dr N	0.36mi	2/2.0 (-1)	840 (-9%)	8mo	$115,000	$137	57
1813 Gale Dr	0.15mi	4/3.0 (+1)	1,024 (+11%)	11mo	$120,000	$117	57
1404 Dawn Dr N	0.52mi	2/1.5 (-1)	980 (+6%)	7mo	$70,000	$71	53
1225 Trails End St	0.60mi	2/2.0 (-1)	1,056 (+14%)	23mo	$163,900	$155	24

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 · 2.31% rent growth · sell at horizon

5-year hold

• IRR: -1.8%
• Equity multiple: 0.93×
• Total profit: $-2,577
• Equity at exit: $20,874

10-year hold

• IRR: 7.2%
• Equity multiple: 1.53×
• Total profit: $20,647
• Equity at exit: $12,105

Cash invested: $39,200 (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 76020

• Home prices YoY: -20.6%
• Rents YoY: 2.3%
• Active inventory: 596
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,531 high
• Mortgage (P&I): −$734
• Tax from tax record: −$85 /mo · $1,014/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$322
• Net cashflow: $333

Break-even live

Break-even rent $1,110

Max offer price $140,000

Occupancy floor 73%

Sensitivity live

Price	-10% $412	-5% $372	+0% $333	+5% $293	+10% $254
Rent	-10% $212	-5% $272	+0% $333	+5% $393	+10% $454
Rate	-1.0pp $403	-0.5pp $368	base $333	+0.5pp $297	+1.0pp $260

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1920 Reef Ct Azle, TX	3.0	2.0	1090	$1,449	$1.33	45d	1	0.37mi
1620 Mockingbird Ln Azle, TX	3.0	2.0	1090	$1,499	$1.38	22d	1	0.46mi
1329 Fox Hollow Ct Azle, TX	2.0	1.0	924	$900	$0.97	7d	1	0.62mi
11124 Liberty School Rd Unit 24B Azle, TX	2.0	2.0	700	$999	$1.43	23d	1	0.72mi
11128 Liberty School Rd Unit 28A Azle, TX	2.0	2.0	700	$1,050	$1.50	25d	1	0.73mi

Listing history 3 events

1. 2026-06-21
   days on market $140,000 Active 3 DOM
2. 2026-06-18
   remarks 699-char remark
3. 2026-06-18
   listed $140,000 Active 1 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: $1,014 · $85/mo
• Projected year-2 tax: $2,562 · $214/mo
• Expected delta: +$1,548/yr (+$129/mo · 152.7%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥110°F today · 22 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,377
• − Mortgage interest: −$7,842
• − Property taxes: −$1,014
• − Insurance: −$700
• − Repairs & maintenance: −$1,470
• − Management: −$1,470
• − Depreciation: −$4,073
• Taxable income: $1,808
• Est. tax owed @ 24.0%: −$434
• After-tax cash flow: $3,560/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: Azle ISD
• NCES district ID: 4809200
• Math proficiency: 37% ▼ -11.00%
• Reading proficiency: 43% ▼ -5.00%
• Median HH income: $61,473
• Composite: 35.57/100
• National rank: #4900
• State rank: #351 of 826 in TX

Livability — Pelican Bay

• Score: 62/100
• State rank: #917
• US rank: #16376

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Parker County · 144,797 people
• Metro: Dallas-Fort Worth-Arlington, TX
• Population (ZIP): 34,602
• Household income: $87,298
• Rent vs Own: 22.3% rent · 77.7% own
• Severe rent burden: 433.0

Population outlook (Tarrant County) Hauer SSP2

• Today (2025): 2,380,417 people
• By 2030: 2,578,900 · +8.3%
• By 2040: 2,974,995 · +25.0%
• By 2050: 3,350,489 · +40.8%
• By 2075: 4,216,909 · +77.2%
• By 2100: 4,741,527 · +99.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Hispanic / Latino 18% Two or more races 9% Black 1%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Slovak 2% Italian 1% Portuguese 1%
• Foreign-born: 5% · Canada
• Languages at home: 89% English-only · Spanish 11%

Political lean MEDSL · Tarrant

• 2024 margin: Lean R (+5.1) · D 46.7% · R 51.9% · Other 1.4%
• 2008→2024 swing: +6.6pp toward D · 2008: -11.7pp · 2024: -5.1pp
• All cycles: 2024: R+5.1 2020: D+0.2 2016: R+8.7 2012: R+15.7 2008: R+11.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -74.72%
• Current HPI: 287.155
• Rent YoY: ▲ 2.31%
• 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

+1402.0% since first listed

9 events — show timeline

• 2026-06-12 Listed $140,000 NTREIS
• 2015-08-07 Sold (Public Records) — Public Records
• 2014-07-28 Sold (Public Records) — Public Records
• 2014-07-25 Sold (MLS) — NTREIS
• 2014-07-22 Pending — NTREIS
• 2014-07-08 Pending — NTREIS
• 2014-06-08 Listed $5,000 NTREIS
• 1998-03-04 Sold (Public Records) $9,321 Public Records
• 1994-01-01 Sold (Public Records) — Public Records

Property tax history

+11.7%/yr

Latest (2025): $1,014 · +1.3% YoY. Source: county tax records.