12032 County Road 0190 E · Rice, TX 75155

$215,000

4 bd · 2.0 ba · 1,680 sqft · Manufactured public records · 90 Days on market

Built 2017 Good condition 0.87 ac lot

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Why this score? — see what drove the B 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 +27.1/30.0
• DSCR +9.4/10.0
• ARV discount +7.5/15.0
• 1% rule +6.6/10.0
• Appreciation +6.3/10.0
• Condition / age +3.8/5.0
• Schools +3.5/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0

Listing remarks MLS

Want room to spread out and not have an HOA or City Taxes? Then I have the place for you. This VERY well maintained 2017 mobile home on .8 acres has 4 beds, 2 baths, family room, open concept kitchen and living room with vaulted beam ceilings with split bedroom arrangement. Seller added all the features you need. Shed, tall carport for RV and more with a ramp, septic system, hvac system, solar powered electric gate and whole property is fenced and are only a few years old. The primary bathroom has a huge walk in shower, 2 sinks and huge walk in closet. You'll definately be impressed with this property. It's priced to sell. Apple Maps Use Address is 12032 NW Private Road 0190 E Rice

Key facts

• Open concept kitchen
• Tall carport
• 0.87 acre lot

Tags

• OPEN CONCEPT KITCHEN
• VAULTED BEAM CEILINGS
• TALL CARPORT
• SOLAR POWERED ELECTRIC GATE
• WHOLE PROPERTY IS FENCED

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $215k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $611 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $215k).
• Recommended offer: $202k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 69/100 on livability (#441 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Rice ISD (rural): math 42% / reading 40% proficiency, ranked #390 of 826 in TX (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 21 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 522 units permitted in Navarro County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($1k loan paydown + $6k appreciation (2.6% local appreciation)).
• Navarro County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (2.6% appreciation + 3.0% rent growth), your $60k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 90 days — a 6% lower offer ($202k) is reasonable based on typical stale-listing flexibility.

Recommended offer $202,100 (6.0% below list)

Questions for the listing agent

1. It's been on market 90 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. 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?
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: 1.16% ✓
• Cap rate: 9.70%
• Cash-on-cash: 12.17%
• DSCR: 1.54
• GRM: 7.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

2.65% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 18.1%
• Equity multiple: 2.01×
• Total profit: $60,849
• Equity at exit: $92,513

10-year hold

• IRR: 19.7%
• Equity multiple: 3.77×
• Total profit: $167,017
• Equity at exit: $139,419

Cash invested: $60,200 (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 75155

• Home prices YoY: 2.4%
• Active inventory: 21
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $2,500 medium
• Mortgage (P&I): −$1,127
• Tax from tax record: −$147 /mo · $1,767/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$525
• Net cashflow: $611

Break-even live

Break-even rent $1,727

Max offer price $215,000

Occupancy floor 71%

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
206 W Gilmer St Rice, TX	3.0	2.0	1800	$2,500	$1.39	17d	1	1.12mi

Listing history 15 events

1. 2026-06-18
   days on market $215,000 Active 90 DOM
2. 2026-06-17
   days on market $215,000 Active 89 DOM
3. 2026-06-16
   days on market $215,000 Active 88 DOM
4. 2026-06-15
   days on market $215,000 Active 87 DOM
5. 2026-06-13
   days on market $215,000 Active 85 DOM
6. 2026-06-09
   days on market $215,000 Active 81 DOM
7. 2026-06-08
   days on market $215,000 Active 80 DOM
8. 2026-06-08
   price $215,000 Active 79 DOM
9. 2026-06-07
   days on market $220,000 Active 79 DOM
10. 2026-06-04
    days on market $220,000 Active 76 DOM
11. 2026-06-03
    days on market $220,000 Active 75 DOM
12. 2026-06-02
    days on market $220,000 Active 74 DOM
13. 2026-06-01
    days on market $220,000 Active 73 DOM
14. 2026-05-31
    days on market $220,000 Active 72 DOM
15. 2026-03-20
    listed $220,000 Active 690-char remark

    Show marketing remark (690 chars)

    Want room to spread out and not have an HOA or City Taxes? Then I have the place for you. This VERY well maintained 2017 mobile home on .8 acres has 4 beds, 2 baths, family room, open concept kitchen and living room with vaulted beam ceilings with split bedroom arrangement. Seller added all the features you need. Shed, tall carport for RV and more with a ramp, septic system, hvac system, solar powered electric gate and whole property is fenced and are only a few years old. The primary bathroom has a huge walk in shower, 2 sinks and huge walk in closet. You'll definately be impressed with this property. It's priced to sell. Apple Maps Use Address is 12032 NW Private Road 0190 E Rice

ⓘ 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: $1,767 · $147/mo
• Projected year-2 tax: $3,934 · $328/mo
• Expected delta: +$2,168/yr (+$181/mo · 122.7%)

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

Taxation est. · year 1

• Rental income: $30,000
• − Mortgage interest: −$12,043
• − Property taxes: −$1,767
• − Insurance: −$1,075
• − Repairs & maintenance: −$2,400
• − Management: −$2,400
• − Depreciation: −$6,255
• Taxable income: $4,061
• Est. tax owed @ 24.0%: −$975
• After-tax cash flow: $6,354/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 · 0 photos

Good 75/100 Cosmetic rehab

This 2017 manufactured home is in good condition with some minor repairs needed. It offers a good balance of features and space, making it a solid investment with potential for value increase through cosmetic updates.

Repairs flagged

• Minor Kitchen cabinets — Light wear and tear, but not damaged.
• Minor Kitchen countertops — Slight discoloration and scratches.
• Minor Primary bathroom vanity — Some wear on the surface, but functional.
• Minor Landscaping — Simple and functional, but not particularly attractive or well-maintained.

Value-add opportunities

• Resale Paint exterior siding — Fresh paint can significantly improve curb appeal and home value.
• Resale Replace worn kitchen cabinets and countertops — Fresh, updated kitchen can attract more buyers.
• Both Improve landscaping — Attractive landscaping can increase both resale and rental value.
• Rental Clean and maintain HVAC system — A well-maintained HVAC system can attract more renters and reduce maintenance costs.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Light wear and tear, but not damaged.	Minor	$500–3,000
Kitchen countertops · Slight discoloration and scratches.	Minor	$500–3,000
Primary bathroom vanity · Some wear on the surface, but functional.	Minor	$500–3,000
Landscaping · Simple and functional, but not particularly attractive or well-maintained.	Minor	$500–3,000
Total estimated repair cost · 4 items		$2,000–12,000

Value-add ROI direction

• Resale Paint exterior siding — Fresh paint can significantly improve curb appeal and home value. ↑
• Resale Replace worn kitchen cabinets and countertops — Fresh, updated kitchen can attract more buyers. ↑
• Both Improve landscaping — Attractive landscaping can increase both resale and rental value. ↑
• Rental Clean and maintain HVAC system — A well-maintained HVAC system can attract more renters and reduce maintenance costs. ↑

ⓘ 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: Rice ISD
• NCES district ID: 4836960
• Math proficiency: 42% ▲ 4.00%
• Reading proficiency: 40% ▼ -1.00%
• Median HH income: $44,160
• Composite: 34.78/100
• National rank: #5119
• State rank: #390 of 826 in TX

Livability — Rice

• Score: 69/100
• State rank: #441
• US rank: #9053

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

• Population (ZIP): 3,034

Population outlook (Navarro County) Hauer SSP2

• Today (2025): 48,397 people
• By 2030: 48,096 · -0.6%
• By 2040: 47,394 · -2.1%
• By 2050: 46,541 · -3.8%
• By 2075: 44,940 · -7.1%
• By 2100: 42,288 · -12.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Hispanic (60%)
• Race & ethnicity: Hispanic / Latino 60% White 30% Two or more races 26% Black 7%
• Hispanic origin (detail): Mexican 55%
• Common ancestry: Scottish 2% Italian 1% Lithuanian 1%
• Foreign-born: 20% · Canada
• Languages at home: 50% English-only · Spanish 49% Russian/Polish/Slavic 1%

Political lean MEDSL · Navarro

• 2024 margin: Solid R (+51.8) · D 23.7% · R 75.6%
• 2008→2024 swing: -18.7pp toward R · 2008: -33.1pp · 2024: -51.8pp
• All cycles: 2024: R+51.8 2020: R+45.5 2016: R+48.8 2012: R+42.4 2008: R+33.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.65%
• Current HPI: 115.3138
• Rent YoY: —
• Metro: —
• 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

• 2026-03-20 Listed $220,000 NTREIS

Property tax history

-4.2%/yr

Latest (2025): $1,767 · -4.2% YoY. Source: county tax records.