11133 County Road 356

Anson, TX 79501

$419,900D

3 bd · 2.0 ba · 1,792 sqft · Built 2003 · Manufactured · Active · 4 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,897/mo
• Mortgage (P&I): −$2,202
• Tax + insurance: −$261
• HOA: −$0
• Vac / Maint / Mgmt: −$608
• Net cashflow: $-174/mo
• Annual: $-2,092/yr
• Cap rate: 5.79%
• Cash-on-cash: -1.78%
• DSCR: 0.92
• 1% rule: 0.69%
• Cash to close: $117,572

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $420k.
• At list price, monthly cash flow is $-174 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $389k (7.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $290k (31.0% below list).
• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $290k (31.0% below list) — sets the bar for 1% rule.
• In year one you build about $20k of equity ($3k loan paydown + $17k appreciation (4.1% local appreciation)).
• Location reads 70/100 on livability (#377 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A-; Watch: health & safety C-, employment D, amenities F.
• Anson ISD (rural): math 29% / reading 37% proficiency, ranked #565 of 826 in TX (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Anson El (math 17% / reading 32%, grade F, #3,052 of 4,322 statewide, top 74%, 368 students, 68% FRL); Anson Middle (math 37% / reading 37%, grade F, #756 of 1,662 statewide, top 47%, 167 students, 65% FRL); Anson H S (math 47% / reading 44%, grade D-, #630 of 1,632 statewide, top 39%, 217 students, 51% FRL).
• Market conditions: 73 active listings in the ZIP; 1 units permitted in Jones County in 2024 (0 in 5+ unit buildings).
• Jones County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 2 sale attempts since 4y 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.
• By year 2, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 6→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.8% vs local median 12.2% in Anson — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.