14115 Whispering Mdws

Sherwood Shores, TX 73439

$249,000D

4 bd · 2.0 ba · 2,356 sqft · Built 2005 · Manufactured · Active · 156 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,744/mo
• Mortgage (P&I): −$1,306
• Tax + insurance: −$188
• HOA: −$0
• Vac / Maint / Mgmt: −$366
• Net cashflow: $-116/mo
• Annual: $-1,393/yr
• Cap rate: 5.73%
• Cash-on-cash: -2.00%
• DSCR: 0.91
• 1% rule: 0.70%
• Cash to close: $69,720

Investor read

• This is a 4-bed/2.0-bath manufactured listed at $249k.
• At list price, monthly cash flow is $-116 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $228k (8.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $174k (30.0% below list).
• It's been on market 156 days — a 12% lower offer ($219k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $174k (30.0% below list) — sets the bar for 1% rule.
• In year one you build about $27k of equity ($2k loan paydown + $25k appreciation (10.0% local appreciation)).
• Location reads 49/100 on livability (#1,519 in TX) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Kingston (rural): math 27% / reading 32% proficiency, ranked #70 of 270 in OK (top 26%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 76% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Kingston Es (math 33% / reading 32%, grade F, #210 of 845 statewide, top 25%, 620 students, 0% FRL); Kingston Ms (math 23% / reading 34%, grade F, #57 of 345 statewide, top 18%, 286 students, 0% FRL); Kingston Hs (math 22% / reading 27%, grade F, #150 of 447 statewide, top 48%, 362 students, 0% FRL) — zoned schools average 0% FRL vs 76% district-wide (76 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 42 units permitted in Marshall County in 2024 (0 in 5+ unit buildings).
• Marshall County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 4 sale attempts since 13y 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 $59k; list at $249k implies a 322% gain — meaningful room to come down on a strong offer.
• By year 2, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.7% vs local median 2.8% in Sherwood Shores — 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.

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 156 days. Have you received any prior offers? Is the seller open to a 30% concession, seller financing, or rate buy-down credit?
• 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?
• Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• 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.