1988 Allentown Loop

Redland, TX 75904

$99,999C

2 bd · 1.0 ba · 832 sqft · Built 1988 · Manufactured · Pending · 35 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,102/mo
• Mortgage (P&I): −$524
• Tax + insurance: −$176
• HOA: −$0
• Vac / Maint / Mgmt: −$231
• Net cashflow: $169/mo
• Annual: $2,033/yr
• Cap rate: 8.33%
• Cash-on-cash: 7.26%
• DSCR: 1.32
• 1% rule: 1.10%
• Cash to close: $28,000

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $100k.
• At list price, monthly cash flow is $169 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• It's been on market 35 days — a 3% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $97k (3.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 66/100 on livability (#634 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: amenities F, commute F, health & safety D-.
• Central ISD (rural): math 41% / reading 45% proficiency, ranked #294 of 826 in TX (top 36%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Central El (math 35% / reading 41%, grade F, #1,709 of 4,322 statewide, top 40%, 633 students, 68% FRL); Central J H (math 47% / reading 46%, grade D+, #443 of 1,662 statewide, top 28%, 440 students, 62% FRL); Central H S (math 32% / reading 47%, grade F, #821 of 1,632 statewide, top 53%, 385 students, 58% FRL).
• Market conditions: 296 active listings in the ZIP; 120 units permitted in Angelina County in 2024 (0 in 5+ unit buildings).
• Climate carrying-cost: severe wind risk, 80% 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

• It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% 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.
• 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?
• 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.