2592 County Rd 152

Shiro, TX 77831

$135,000D-

2 bd · 2.0 ba · 1,216 sqft · Built 1999 · Manufactured · Active · 41 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,018/mo
• Mortgage (P&I): −$708
• Tax + insurance: −$166
• HOA: −$0
• Vac / Maint / Mgmt: −$214
• Net cashflow: $-70/mo
• Annual: $-837/yr
• Cap rate: 5.67%
• Cash-on-cash: -2.21%
• DSCR: 0.90
• 1% rule: 0.75%
• Cash to close: $37,800

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $135k.
• At list price, monthly cash flow is $-70 ($-837/yr) — negative.
• To cash-flow at today's rent, offer at most $123k (9.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $102k (24.6% below list).
• It's been on market 41 days — a 3% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $102k (24.6% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Anderson-Shiro CISD (rural): math 57% / reading 54% proficiency, ranked #107 of 826 in TX (top 13%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Anderson-Shiro El (math 58% / reading 50%, grade C, #664 of 4,322 statewide, top 16%, 460 students, 46% FRL); Anderson-Shiro Jr/Sr H S (math 57% / reading 56%, grade C, #357 of 1,632 statewide, top 22%, 474 students, 40% FRL) — zoned schools at 43% FRL track the district average.
• Market conditions: 117 active listings in the ZIP; 110 units permitted in Grimes County in 2024 (0 in 5+ unit buildings).
• Grimes County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 4 sale attempts since 3y 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.
• Climate carrying-cost: severe wind risk, 96% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

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 41 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.