3326 N Walker Rd · Deerwood, TX 77328

$189,000

4 bd · 2.0 ba · 1,456 sqft · Manufactured public records · 16 Days on market

Built 2001 1.20 ac lot $130/sqft · 18% above area Est $160k · 18% 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 +5.7/10.0
• Schools +5.1/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Mobile home on over 1.2 acres, it is unrestricted, the area is growing it is close to Cleveland and Conroe area. It is a 4 bedroom 2 bath, home needs some work but can be a great investment opportunity.

Key facts

• 1.2 acre lot
• Built 2001
• Listed 15 days

Property features AI

Finance

• Other: Seller disclosure available
• Financial info: Lease not considered

Exterior

• Utilities: Water from well; Septic tank sewer
• Home design: Residential property; Single-story (first level entry)
• Construction: Built in 2001; Vinyl siding; Block foundation; Composition roof
• Exterior features: Lot approximately 1.204 acres; Lot features: Other

Interior

• Kitchen: Kitchen (first level, 13x12)
• Bedrooms: Primary bedroom (first level, 12x14); Three additional bedrooms (first level, approx. 11x11, 11x11, 10x11)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: 6 total rooms; Rooms include living room and kitchen

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $189k.

Deal economics

• At list price, monthly cash flow is $380 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $189k).
• Recommended offer: $186k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.1% vs local median 5.4% in Deerwood — 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: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Conroe ISD (other): math 57% / reading 57% proficiency, ranked #69 of 826 in TX (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Caney Creek H S (math 33% / reading 42%, grade F, #888 of 1,632 statewide, top 55%, 2,504 students, 79% FRL) — zoned schools average 79% FRL vs 34% district-wide (45 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 38% at this address vs 57% district-wide (-20 pts) — the specific schools serving this property underperform the Conroe ISD average; the district grade overstates school quality for this exact location.
• Market conditions: 336 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 10d on market — plan ~1-2 weeks tenant-placement turnaround); 13,259 units permitted in Montgomery County in 2024 (1,402 in 5+ unit buildings).
• This rent runs 39% of the median local income ($62k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Montgomery County population projected at +65% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($186k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 23y 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

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; severe wind risk, 99% 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 $186,165 (1.5% below list)

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.07% ✓
• Cap rate: 9.13%
• Cash-on-cash: 10.13%
• DSCR: 1.45
• GRM: 7.8

CMA / ARV

• ARV (median comp): $159,990
• List price: $189,000
• Delta: 18.13%
• Verdict: OVERPRICED
• Comps: 5 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
18200 Dodd Rd	0.70mi	4/2.0	1,512 (+4%)	7mo	$199,000	$132	55

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -3.2%
• Equity multiple: 0.88×
• Total profit: $-6,430
• Equity at exit: $28,181

10-year hold

• IRR: 6.4%
• Equity multiple: 1.48×
• Total profit: $25,489
• Equity at exit: $16,341

Cash invested: $52,920 (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 77328

• Home prices YoY: -7.7%
• Active inventory: 336
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $2,022 medium
• Mortgage (P&I): −$991
• Tax from tax record: −$81 /mo · $967/yr
• Insurance: −$79
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$425
• Net cashflow: $380

Break-even live

Break-even rent $1,540

Max offer price $189,000

Occupancy floor 76%

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: $47,250
• Closing costs: $5,670
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2140 Cedar Bend Dr Conroe, TX	4.0	3.0	1871	$1,995	$1.07	10d	1	1.07mi
308 Kinsman Rd Cleveland, TX	3.0	1.5	1400	$1,650	$1.18	7d	1	1.15mi
308 Kinsman Rd Cleveland, TX	3.0	1.5	1400	$1,650	$1.18	43d	1	1.15mi

Listing history 23 events

1. 2026-06-18
   days on market $189,000 Active 16 DOM
2. 2026-06-17
   days on market $189,000 Active 15 DOM
3. 2026-06-16
   days on market $189,000 Active 14 DOM
4. 2026-06-15
   days on market $189,000 Active 13 DOM
5. 2026-06-13
   days on market $189,000 Active 11 DOM
6. 2026-06-09
   days on market $189,000 Active 7 DOM
7. 2026-06-08
   days on market $189,000 Active 6 DOM
8. 2026-06-07
   days on market $189,000 Active 5 DOM
9. 2026-06-04
   days on market $189,000 Active 2 DOM
10. 2026-06-03
    statusdays on market $189,000 Active 1 DOM
11. 2026-06-02
    days on market $189,000 Coming Soon 21 DOM
12. 2026-06-01
    days on market $189,000 Coming Soon 20 DOM
13. 2026-05-31
    days on market $189,000 Coming Soon 19 DOM
14. 2026-05-12
    historical $189,000 203-char remark
15. 2025-08-27
    historical
16. 2025-08-25
    listed $99,000 Active
17. 2025-08-25
    historical
18. 2025-08-04
    listed $99,000 Active
19. 2004-03-02
    soldstatus
20. 2003-12-11
    historical
21. 2003-07-21
    listed $59,900
22. 2003-07-19
    historical
23. 2003-01-19
    listed $70,000

ⓘ 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: $967 · $81/mo
• Projected year-2 tax: $3,459 · $288/mo
• Expected delta: +$2,491/yr (+$208/mo · 257.6%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥111°F today · 24 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% 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: $24,262
• − Mortgage interest: −$10,587
• − Property taxes: −$967
• − Insurance: −$1,742
• − Repairs & maintenance: −$1,941
• − Management: −$1,941
• − Depreciation: −$5,498
• Taxable income: $1,585
• Est. tax owed @ 24.0%: −$380
• After-tax cash flow: $4,183/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: Conroe ISD
• NCES district ID: 4815000
• Math proficiency: 57% ▼ -6.00%
• Reading proficiency: 57% ▼ -1.00%
• Median HH income: $71,541
• Composite: 50.65/100
• National rank: #1833
• State rank: #69 of 826 in TX

Livability — Deerwood

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: San Jacinto County · 17,208 people
• Metro: Houston-The Woodlands-Sugar Land, TX
• Population (ZIP): 17,208
• Household income: $62,428
• Rent vs Own: 20.5% rent · 79.5% own
• Severe rent burden: 58.0

Population outlook (Montgomery County) Hauer SSP2

• Today (2025): 713,896 people
• By 2030: 805,263 · +12.8%
• By 2040: 992,708 · +39.1%
• By 2050: 1,179,590 · +65.2%
• By 2075: 1,628,084 · +128.1%
• By 2100: 1,937,880 · +171.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (61%)
• Race & ethnicity: White 61% Hispanic / Latino 33% Two or more races 14% Black 2%
• Hispanic origin (detail): Mexican 27% Cuban 1%
• Common ancestry: Lithuanian 4% Italian 3% Serbian 3%
• Foreign-born: 18% · Canada, China
• Languages at home: 67% English-only · Spanish 31% Chinese 1%

Political lean MEDSL · Montgomery

• 2024 margin: Solid R (+45.5) · D 26.8% · R 72.3%
• 2008→2024 swing: +7.2pp toward D · 2008: -52.7pp · 2024: -45.5pp
• All cycles: 2024: R+45.5 2020: R+43.8 2016: R+51.4 2012: R+60.7 2008: R+52.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -22.82%
• Current HPI: 273.6604
• Rent YoY: —
• Metro: Houston-The Woodlands-Sugar Land, 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

+170.0% since first listed

11 events — show timeline

• 2026-06-03 Listed $189,000 HARMLS
• 2026-05-12 Coming Soon $189,000 HARMLS
• 2025-08-27 Listing Removed — HARMLS
• 2025-08-25 Listing Removed — HARMLS
• 2025-08-25 Listed $99,000 HARMLS
• 2025-08-04 Listed $99,000 HARMLS
• 2004-03-02 Sold (Public Records) — Public Records
• 2003-12-11 Listing Removed — HARMLS
• 2003-07-21 Listed $59,900 HARMLS
• 2003-07-19 Listing Removed — HARMLS
• 2003-01-19 Listed $70,000 HARMLS

Property tax history

+9.5%/yr

Latest (2025): $967 · +9.6% YoY. Source: county tax records.