565 Qappuella Dr · Canyon Lake, TX 78133

$212,900

3 bd · 2.0 ba · 1,120 sqft · Manufactured public records · 29 Days on market

Built 1986 0.50 ac lot $190/sqft · 29% below area Est $298k · 29% under

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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 +15.5/30.0
• ARV discount +15.0/15.0
• Schools +5.2/10.0
• DSCR +4.8/10.0
• Livability +3.4/5.0
• 1% rule +3.3/10.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great mobile home on a half-acre at Canyon Lake with no HOA! This home can be used as a primary residence, summer home, or vacation rental investment - all appliances convey and furnishings are negotiable. Three spacious bedrooms, two full bathrooms, open floor plan, indoor laundry room and TWO storage buildings out back -- this one will go quickly, don't hesitate!

Key facts

• 0.5 acre lot
• Built 1986
• Listed 29 days

Property features AI

Finance

• Other: Possession at closing/funding; For sale
• Financial info: Down payment resources available
• HOA & community: Subdivision: Emerald Valley

Exterior

• Parking: Details not provided
• Utilities: Water system; Aerobic septic; Electric power (electric heating and electric water heater)
• Home design: East-facing; Pre-owned home; Subdivision: Emerald Valley
• Construction: Approximately 40 years old; Built by Fleetwood Homes; Siding exterior; Metal roof
• Exterior features: Covered patio; Deck/balcony; Storage building / shed; Gutters; Wire fence; Mature trees; Partially wooded; Level lot; Cul-de-sac location

Interior

• Kitchen: Eat-in kitchen (15 x 7); Breakfast bar; Stove/Range; Microwave; Dishwasher
• Bedrooms: Master bedroom: 13 x 11 — split plan, walk-in closet, ceiling fan, full bath; Bedroom 2: 11 x 10; Bedroom 3: 11 x 10
• Flooring: Carpeting; Vinyl flooring
• Bathrooms: 2 full bathrooms; Master bath with tub/shower combination and single vanity
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Ceiling fans; Washer and dryer connections; Microwave oven; Stove/Range; Dishwasher; Smoke alarm; Electric water heater; Living/Dining room combination; Eat-in kitchen with breakfast bar; Utility room inside; Ground level / no steps; Laundry room; Walk-in closets; 1 living area
• Laundry & utility: Utility room (9 x 4) inside; Washer connection; Dryer connection; Laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $213k.

Deal economics

• At list price, monthly cash flow is $86 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $177k (16.8% below list).
• Recommended offer: $177k (16.8% below list) — sets the bar for 1% rule.
• Cap rate 6.8% vs local median 2.3% in Canyon Lake — 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 67/100 on livability (#534 in TX) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, cost of living A; Watch: amenities F, commute F, health & safety F.
• Comal ISD (rural): math 57% / reading 59% proficiency, ranked #58 of 826 in TX (top 7%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Canyon Lake H S (math 46% / reading 56%, grade D+, #482 of 1,632 statewide, top 30%, 1,038 students, 37% FRL).
• Market conditions: Rents soft (-1.2%/yr); 1014 active listings in the ZIP; solid renter incomes; 3,420 units permitted in Comal County in 2024 (1,164 in 5+ unit buildings).

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.
• Comal County population projected at +70% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($210k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 11y 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

• Climate carrying-cost: major wind risk, 76% 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.

Recommended offer $177,201 (16.8% below list)

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. 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.
3. 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.
4. 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: 0.83% ✗
• Cap rate: 6.77%
• Cash-on-cash: 1.72%
• DSCR: 1.08
• GRM: 10.0

CMA / ARV

• ARV (median comp): $297,802
• List price: $212,900
• Delta: -28.51%
• Verdict: UNDERPRICED
• Comps: 15 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -16.7%
• Equity multiple: 0.42×
• Total profit: $-34,315
• Equity at exit: $31,744

10-year hold

• IRR: -14.4%
• Equity multiple: 0.27×
• Total profit: $-43,220
• Equity at exit: $18,408

Cash invested: $59,612 (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 78133

• Home prices YoY: -33.8%
• Rents YoY: -1.2%
• Active inventory: 1014
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $1,772 medium
• Mortgage (P&I): −$1,116
• Tax from tax record: −$109 /mo · $1,310/yr
• Insurance: −$89
• HOA: −$0
• Vacancy / Maint / Mgmt: −$372
• Net cashflow: $86

Break-even live

Break-even rent $1,664

Max offer price $212,900

Occupancy floor 90%

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: $53,225
• Closing costs: $6,387
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-04-29
   listed $212,900 New 1286-char remark
2. 2019-10-20
   status Pending 369-char remark

   Show marketing remark (369 chars)

   Great mobile home on a half-acre at Canyon Lake with no HOA! This home can be used as a primary residence, summer home, or vacation rental investment - all appliances convey and furnishings are negotiable. Three spacious bedrooms, two full bathrooms, open floor plan, indoor laundry room and TWO storage buildings out back -- this one will go quickly, don't hesitate!

3. 2019-10-18
   soldstatus Sold 369-char remark

   Show marketing remark (369 chars)

   Great mobile home on a half-acre at Canyon Lake with no HOA! This home can be used as a primary residence, summer home, or vacation rental investment - all appliances convey and furnishings are negotiable. Three spacious bedrooms, two full bathrooms, open floor plan, indoor laundry room and TWO storage buildings out back -- this one will go quickly, don't hesitate!

4. 2019-10-18
   soldstatus

   Show marketing remark (369 chars)

   Great mobile home on a half-acre at Canyon Lake with no HOA! This home can be used as a primary residence, summer home, or vacation rental investment - all appliances convey and furnishings are negotiable. Three spacious bedrooms, two full bathrooms, open floor plan, indoor laundry room and TWO storage buildings out back -- this one will go quickly, don't hesitate!

5. 2019-10-02
   status Pending
6. 2019-09-21
   historical Active Option 369-char remark

   Show marketing remark (369 chars)

   Great mobile home on a half-acre at Canyon Lake with no HOA! This home can be used as a primary residence, summer home, or vacation rental investment - all appliances convey and furnishings are negotiable. Three spacious bedrooms, two full bathrooms, open floor plan, indoor laundry room and TWO storage buildings out back -- this one will go quickly, don't hesitate!

7. 2019-09-21
   status Pending with Option

   Show marketing remark (369 chars)

   Great mobile home on a half-acre at Canyon Lake with no HOA! This home can be used as a primary residence, summer home, or vacation rental investment - all appliances convey and furnishings are negotiable. Three spacious bedrooms, two full bathrooms, open floor plan, indoor laundry room and TWO storage buildings out back -- this one will go quickly, don't hesitate!

8. 2019-09-17
   status Back on Market 369-char remark

   Show marketing remark (369 chars)

   Great mobile home on a half-acre at Canyon Lake with no HOA! This home can be used as a primary residence, summer home, or vacation rental investment - all appliances convey and furnishings are negotiable. Three spacious bedrooms, two full bathrooms, open floor plan, indoor laundry room and TWO storage buildings out back -- this one will go quickly, don't hesitate!

9. 2019-09-17
   status Active

   Show marketing remark (369 chars)

   Great mobile home on a half-acre at Canyon Lake with no HOA! This home can be used as a primary residence, summer home, or vacation rental investment - all appliances convey and furnishings are negotiable. Three spacious bedrooms, two full bathrooms, open floor plan, indoor laundry room and TWO storage buildings out back -- this one will go quickly, don't hesitate!

10. 2019-09-08
    historical
11. 2019-09-02
    status Pending with Option
12. 2019-08-30
    historical

    Show marketing remark (369 chars)

    Great mobile home on a half-acre at Canyon Lake with no HOA! This home can be used as a primary residence, summer home, or vacation rental investment - all appliances convey and furnishings are negotiable. Three spacious bedrooms, two full bathrooms, open floor plan, indoor laundry room and TWO storage buildings out back -- this one will go quickly, don't hesitate!

13. 2019-08-30
    status Pending 369-char remark

    Show marketing remark (369 chars)

    Great mobile home on a half-acre at Canyon Lake with no HOA! This home can be used as a primary residence, summer home, or vacation rental investment - all appliances convey and furnishings are negotiable. Three spacious bedrooms, two full bathrooms, open floor plan, indoor laundry room and TWO storage buildings out back -- this one will go quickly, don't hesitate!

14. 2019-08-17
    historical Active Option 369-char remark

    Show marketing remark (369 chars)

    Great mobile home on a half-acre at Canyon Lake with no HOA! This home can be used as a primary residence, summer home, or vacation rental investment - all appliances convey and furnishings are negotiable. Three spacious bedrooms, two full bathrooms, open floor plan, indoor laundry room and TWO storage buildings out back -- this one will go quickly, don't hesitate!

15. 2019-08-17
    status Pending with Option

    Show marketing remark (369 chars)

    Great mobile home on a half-acre at Canyon Lake with no HOA! This home can be used as a primary residence, summer home, or vacation rental investment - all appliances convey and furnishings are negotiable. Three spacious bedrooms, two full bathrooms, open floor plan, indoor laundry room and TWO storage buildings out back -- this one will go quickly, don't hesitate!

16. 2019-08-07
    listed $110,000 Active

    Show marketing remark (369 chars)

    Great mobile home on a half-acre at Canyon Lake with no HOA! This home can be used as a primary residence, summer home, or vacation rental investment - all appliances convey and furnishings are negotiable. Three spacious bedrooms, two full bathrooms, open floor plan, indoor laundry room and TWO storage buildings out back -- this one will go quickly, don't hesitate!

17. 2019-08-07
    listed $110,000 New 369-char remark

    Show marketing remark (369 chars)

    Great mobile home on a half-acre at Canyon Lake with no HOA! This home can be used as a primary residence, summer home, or vacation rental investment - all appliances convey and furnishings are negotiable. Three spacious bedrooms, two full bathrooms, open floor plan, indoor laundry room and TWO storage buildings out back -- this one will go quickly, don't hesitate!

18. 2015-12-31
    soldstatus
19. 2015-12-30
    soldstatus Sold
20. 2015-12-30
    soldstatus $85,000
21. 2015-11-13
    status Pending
22. 2015-11-09
    historical Active Option
23. 2015-10-06
    listed $89,900
24. 2015-10-05
    listed $89,900 New
25. 2002-06-06
    soldstatus
26. 2000-10-30
    soldstatus
27. 1989-01-30
    soldstatus

ⓘ 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: $1,310 · $109/mo
• Projected year-2 tax: $3,896 · $325/mo
• Expected delta: +$2,586/yr (+$215/mo · 197.3%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥107°F today · 24 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 76% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,264
• − Mortgage interest: −$11,926
• − Property taxes: −$1,310
• − Insurance: −$1,064
• − Repairs & maintenance: −$1,701
• − Management: −$1,701
• − Depreciation: −$6,193
• Taxable loss: −$2,632
• Est. tax savings @ 24.0%: +$632
• After-tax cash flow: $1,658/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: Comal ISD
• NCES district ID: 4814730
• Math proficiency: 57% ▼ -9.00%
• Reading proficiency: 59% ▼ -2.00%
• Median HH income: $74,792
• Composite: 51.79/100
• National rank: #1671
• State rank: #58 of 826 in TX

Livability — Canyon Lake

• Score: 67/100
• State rank: #534
• US rank: #10441

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Canyon Lake, TX
• County: Comal County · 206,262 people
• City population: 42,159
• Metro: San Antonio-New Braunfels, TX
• Population (ZIP): 21,959
• Household income: $83,853
• Rent vs Own: 15.2% rent · 84.8% own
• Severe rent burden: 402.0

Population outlook (Comal County) Hauer SSP2

• Today (2025): 175,637 people
• By 2030: 199,911 · +13.8%
• By 2040: 249,436 · +42.0%
• By 2050: 299,430 · +70.5%
• By 2075: 423,857 · +141.3%
• By 2100: 512,048 · +191.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 20% Two or more races 10% Black 2%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Lithuanian 3% Romanian 3% Italian 3%
• Foreign-born: 4% · Canada
• Languages at home: 91% English-only · Spanish 7%

Political lean MEDSL · Comal

• 2024 margin: Solid R (+45.5) · D 26.8% · R 72.2%
• 2008→2024 swing: +1.9pp toward D · 2008: -47.4pp · 2024: -45.5pp
• All cycles: 2024: R+45.5 2020: R+42.7 2016: R+50.1 2012: R+54.1 2008: R+47.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -111.36%
• Current HPI: 218.4633
• Rent YoY: ▼ -1.20%
• Metro: San Antonio-New Braunfels, 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

+136.8% since first listed

29 events — show timeline

• 2026-05-28 Pending — LERA
• 2026-05-22 Contingent — LERA
• 2026-04-29 Listed $212,900 LERA
• 2019-10-20 Pending — LERA
• 2019-10-18 Sold (MLS) — LERA
• 2019-10-18 Sold (Public Records) — Public Records
• 2019-10-02 Pending — CTXMLS
• 2019-09-21 Contingent — LERA
• 2019-09-21 Pending — CTXMLS
• 2019-09-17 Relisted — LERA
• 2019-09-17 Relisted — CTXMLS
• 2019-09-08 Listing Removed — CTXMLS
• 2019-09-02 Pending — CTXMLS
• 2019-08-30 Listing Removed — CTXMLS
• 2019-08-30 Pending — LERA
• 2019-08-17 Contingent — LERA
• 2019-08-17 Pending — CTXMLS
• 2019-08-07 Listed $110,000 CTXMLS
• 2019-08-07 Listed $110,000 LERA
• 2015-12-31 Sold (Public Records) — Public Records
• 2015-12-30 Sold (MLS) — LERA
• 2015-12-30 Sold (MLS) — CTXMLS
• 2015-11-13 Pending — LERA
• 2015-11-09 Contingent — LERA
• 2015-10-06 Listed $89,900 CTXMLS
• 2015-10-05 Listed $89,900 LERA
• 2002-06-06 Sold (Public Records) — Public Records
• 2000-10-30 Sold (Public Records) — Public Records
• 1989-01-30 Sold (Public Records) — Public Records

Property tax history

+5.2%/yr

Latest (2026): $1,310 · -1.2% YoY. Source: county tax records.