Farm 3 Flex Plan · Austin, TX 78724

$130,995

3 bd · 2.0 ba · 1,580 sqft · Manufactured · 71 Days on market

Good condition

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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 +19.7/30.0
• ARV discount +7.5/15.0
• DSCR +6.2/10.0
• 1% rule +5.2/10.0
• Livability +4.1/5.0
• Condition / age +4.0/5.0
• Rent growth +2.6/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover the perfect home for your modern lifestyle with the Farm 3 Flex. This adaptable 3-bedroom, 2-bathroom home features a flexible space that can be transformed into a home office, playroom, or extra bedroom to suit your family's needs. Our popular split floor plan offers privacy and functionality, while the eye-catching curb appeal makes a lasting impression. Inside, enjoy the comfort and style of tape and textured walls, creating a finished look. Built with Clayton's eco-friendly eBuilt system, the Farm 3 Flex incorporates over 25 sustainable features without compromising on quality or comfort.

Key facts

• Split floor plan
• Sustainable features
• Listed 71 days

Tags

• SPLIT FLOOR PLAN
• ECO-FRIENDLY EBUILT SYSTEM
• SUSTAINABLE FEATURES

🏗️ New construction. The $130,995 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $205,435.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $131k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $241 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $131k).
• Recommended offer: $123k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.7% vs local median 1.8% in Austin — 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 82/100 on livability (#16 in TX, #1,208 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+; Watch: cost of living D, crime F.
• Manor ISD (rural): math 18% / reading 26% proficiency, ranked #729 of 826 in TX (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 71% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents flat; 180 active listings in the ZIP; 35 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 17,121 units permitted in Travis County in 2024 (11,963 in 5+ unit buildings).
• This rent runs 32% of the median local income ($78k/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.
• Travis County population projected at +60% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 71 days — a 6% lower offer ($123k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $123,135 (6.0% below list)

Questions for the listing agent

1. It's been on market 71 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.02% ✓
• Cap rate: 7.70%
• Cash-on-cash: 5.03%
• DSCR: 1.22
• GRM: 8.1

CMA / ARV

• ARV (median comp): $205,435
• List price: $130,995
• Delta: -36.24%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.26% rent growth · sell at horizon

5-year hold

• IRR: -11.6%
• Equity multiple: 0.59×
• Total profit: $-23,552
• Equity at exit: $30,631

10-year hold

• IRR: -7.0%
• Equity multiple: 0.61×
• Total profit: $-22,530
• Equity at exit: $17,762

Cash invested: $57,522 (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 78724

• Home prices YoY: -13.1%
• Rents YoY: 0.3%
• Active inventory: 180
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $2,102 high
• Mortgage (P&I): −$1,077
• Tax est. 1.5%: −$257 /mo · $3,082/yr
• Insurance: −$86
• HOA: −$0
• Vacancy / Maint / Mgmt: −$441
• Net cashflow: $241

Break-even live

Break-even rent $1,797

Max offer price $205,435

Occupancy floor 84%

Sensitivity live

Price	-10% $383	-5% $312	+0% $241	+5% $170	+10% $99
Rent	-10% $75	-5% $158	+0% $241	+5% $324	+10% $407
Rate	-1.0pp $344	-0.5pp $293	base $241	+0.5pp $188	+1.0pp $134

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: $51,359
• Closing costs: $6,163
• Reserves months: —
• Total cash needed: —

Rent comps 35 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6109 Decker Ln Austin, TX	2.0	2.0	1277	$2,059	$1.61	21d	1	0.15mi
6109 Decker Ln Austin, TX	3.0	2.0	1513	$2,275	$1.50	17d	1	0.15mi
8310 Canoga Ave Austin, TX	2.0	2.0	1167	$1,450	$1.24	44d	1	0.16mi
6107 Decker Ln Austin, TX	1.0–3.0	1.0–2.0	991	$2,785	$2.81	2d	62	0.20mi
6506 Decker Ln Austin, TX	2.0	2.0	1164	$1,599	$1.37	44d	1	0.33mi
8701 Decker Lake Rd Austin, TX	1.0–2.0	1.0–2.0	935	$1,887	$2.02	2d	142	0.39mi
8703 Decker Lake Rd Austin, TX	2.0	2.0	1241	$1,747	$1.41	21d	1	0.42mi
8101 Loyola Ln Austin, TX	1.0–3.0	1.0–3.5	1333	$3,049	$2.29	3d	99	0.48mi
8305 Garcreek Cir Unit A&C Austin, TX	3.0	2.5	1100	$1,399	$1.27	44d	1	0.55mi
8401 Garcreek Cir Austin, TX	3.0	2.0	1200	$1,850	$1.54	4d	1	0.57mi
9212 China Rose Dr Austin, TX	3.0	2.0	1429	$1,800	$1.26	44d	1	0.58mi
9351 Decker Lake Rd Austin, TX	1.0–4.0	1.0–2.0	1002	$1,732	$1.73	2d	12	0.59mi
5813 Knoll Pines Pass Austin, TX	3.0	2.0	1516	$1,750	$1.15	5d	1	0.62mi
5301 Decker Ln Austin, TX	1.0–2.0	1.0–2.0	1025	$1,752	$1.71	2d	15	0.63mi
9025 Sun Shower Bnd Austin, TX	3.0	2.0	1704	$2,200	$1.29	24d	1	0.65mi
5717 Levenwood Ln Austin, TX	3.0	2.0	1510	$1,895	$1.25	18d	1	0.69mi
6013 Florencia Ln Austin, TX	3.0	3.0	1957	$3,600	$1.84	13d	1	0.71mi
5517 Agatha Cir Austin, TX	3.0	2.5	1627	$2,850	$1.75	5d	1	0.83mi
7000 Decker Ln Austin, TX	1.0–4.0	1.0–2.0	955	$1,626	$1.70	3d	19	0.83mi
5928 Signal Pt Austin, TX	4.0	2.0	1500	$1,800	$1.20	45d	1	0.85mi
5724 Signal Pt Austin, TX	3.0	2.0	1320	$1,725	$1.31	44d	1	0.86mi
6308 Perlita Dr Austin, TX	3.0	2.5	1438	$1,895	$1.32	44d	1	0.86mi
5929 Alsace Trl Austin, TX	3.0	2.0	1320	$1,950	$1.48	24d	1	0.91mi
5334 Sendero Hills Pkwy Austin, TX	3.0	3.0	2166	$4,299	$1.98	24d	1	0.91mi
6902 Colony Park Dr Austin, TX	4.0	1.5	1500	$2,250	$1.50	24d	1	1.27mi
8340 Mimi Ln Austin, TX	3.0	2.5	1811	$2,700	$1.49	5d	1	1.29mi
8304 Mimi Ln Austin, TX	4.0	2.5	2138	$2,425	$1.13	24d	1	1.30mi
8025 City Top Blvd Austin, TX	3.0	2.0	1472	$2,300	$1.56	24d	1	1.34mi
8220 Linnie Ln Austin, TX	4.0	2.5	2200	$2,700	$1.23	24d	1	1.36mi
7717 Lowenfield Dr Austin, TX	3.0	2.0	1516	$2,270	$1.50	24d	1	1.37mi
7120 Carwill Dr Austin, TX	3.0	2.0	1500	$2,000	$1.33	15d	1	1.38mi
7512 Daves Landing Dr Austin, TX	3.0	2.0	1366	$2,200	$1.61	24d	1	1.43mi
6809 Jaired Dr Austin, TX	3.0	2.0	1162	$1,900	$1.64	44d	1	1.43mi
7925 Linnie Ln Austin, TX	4.0	2.5	2216	$2,395	$1.08	5d	1	1.44mi
7320 Muffin Dr Austin, TX	3.0	2.0	1499	$2,045	$1.36	15d	1	1.49mi

Listing history 15 events

1. 2026-06-21
   days on market $130,995 Active 71 DOM
2. 2026-06-18
   days on market $130,995 Active 68 DOM
3. 2026-06-17
   days on market $130,995 Active 67 DOM
4. 2026-06-16
   days on market $130,995 Active 66 DOM
5. 2026-06-15
   days on market $130,995 Active 65 DOM
6. 2026-06-13
   days on market $130,995 Active 63 DOM
7. 2026-06-09
   days on market $130,995 Active 59 DOM
8. 2026-06-08
   days on market $130,995 Active 58 DOM
9. 2026-06-07
   days on market $130,995 Active 57 DOM
10. 2026-06-05
    days on market $130,995 Active 54 DOM
11. 2026-06-03
    days on market $130,995 Active 53 DOM
12. 2026-06-02
    days on market $130,995 Active 52 DOM
13. 2026-06-01
    days on market $130,995 Active 51 DOM
14. 2026-05-31
    days on market $130,995 Active 50 DOM
15. 2026-04-11
    listed $130,995 Active 608-char remark

    Show marketing remark (608 chars)

    Discover the perfect home for your modern lifestyle with the Farm 3 Flex. This adaptable 3-bedroom, 2-bathroom home features a flexible space that can be transformed into a home office, playroom, or extra bedroom to suit your family's needs. Our popular split floor plan offers privacy and functionality, while the eye-catching curb appeal makes a lasting impression. Inside, enjoy the comfort and style of tape and textured walls, creating a finished look. Built with Clayton's eco-friendly eBuilt system, the Farm 3 Flex incorporates over 25 sustainable features without compromising on quality or comfort.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 25 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $25,225
• − Mortgage interest: −$11,508
• − Property taxes: −$3,082
• − Insurance: −$1,027
• − Repairs & maintenance: −$2,018
• − Management: −$2,018
• − Depreciation: −$5,976
• Taxable loss: −$403
• Est. tax savings @ 24.0%: +$97
• After-tax cash flow: $2,988/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.

Condition & rehab AI · 10 photos

Good 80/100 Cosmetic rehab

This modern, well-maintained manufactured home with a split floor plan offers privacy and functionality, making it an excellent investment opportunity.

Value-add opportunities

• Both Paint the exterior siding — Enhances curb appeal and can increase both resale and rental value.
• Both Install smart home devices — Improves convenience and can attract tech-savvy buyers/renters.
• Both Add a smart thermostat — Enhances energy efficiency and can appeal to eco-conscious buyers/renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint the exterior siding — Enhances curb appeal and can increase both resale and rental value. ↑
• Both Install smart home devices — Improves convenience and can attract tech-savvy buyers/renters. ↑
• Both Add a smart thermostat — Enhances energy efficiency and can appeal to eco-conscious buyers/renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Manor ISD
• NCES district ID: 4828890
• Math proficiency: 18% ▼ -19.00%
• Reading proficiency: 26% ▼ -10.00%
• Median HH income: $56,255
• Composite: 20.14/100
• National rank: #8641
• State rank: #729 of 826 in TX

Livability — Austin

• Score: 82/100
• State rank: #16
• US rank: #1208

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Travis County · 1,299,254 people
• City population: 1,066,854
• Metro: Austin-Round Rock-Georgetown, TX
• Population (ZIP): 31,103
• Household income: $77,926
• Rent vs Own: 39.4% rent · 60.6% own
• Severe rent burden: 873.0

Population outlook (Travis County) Hauer SSP2

• Today (2025): 1,545,133 people
• By 2030: 1,729,269 · +11.9%
• By 2040: 2,097,596 · +35.8%
• By 2050: 2,463,890 · +59.5%
• By 2075: 3,249,374 · +110.3%
• By 2100: 3,801,868 · +146.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: Hispanic / Latino 63% Two or more races 30% Black 15% White 15% Asian 3%
• Hispanic origin (detail): Mexican 54% Puerto Rican 2% Cuban 1%
• Common ancestry: Slovak 2% Lithuanian 1%
• Foreign-born: 23% · Canada, Jamaica, China
• Languages at home: 48% English-only · Spanish 48% Other Asian/Pacific 1% Other Indo-European 1%

Political lean MEDSL · Travis

• 2024 margin: Solid D (+39.3) · D 68.8% · R 29.4% · Other 1.8%
• 2008→2024 swing: +9.9pp toward D · 2008: 29.4pp · 2024: 39.3pp
• All cycles: 2024: D+39.3 2020: D+45.0 2016: D+38.9 2012: D+23.9 2008: D+29.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -42.92%
• Current HPI: 284.1007
• Rent YoY: ▲ 0.26%
• Metro: Austin-Round Rock-Georgetown, 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

1 event — show timeline

• 2026-04-11 Listed $130,995 Zillow