1791 County Road 3855

Bridgeport, TX 76487

$244,000C-

4 bd · 3.0 ba · 2,200 sqft · Built 1996 · Manufactured · Pending · 239 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,426/mo
• Mortgage (P&I): −$1,280
• Tax + insurance: −$300
• HOA: −$0
• Vac / Maint / Mgmt: −$509
• Net cashflow: $337/mo
• Annual: $4,042/yr
• Cap rate: 7.95%
• Cash-on-cash: 5.92%
• DSCR: 1.26
• 1% rule: 0.99%
• Cash to close: $68,320

Investor read

• This is a 4-bed/3.0-bath manufactured listed at $244k.
• At list price, monthly cash flow is $337 ($4k/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 $243k (0.6% below list).
• It's been on market 239 days — a 12% lower offer ($215k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $215k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 68/100 on livability (#472 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: health & safety D+, amenities F, commute F.
• Poolville ISD (rural): math 40% / reading 41% proficiency, ranked #385 of 826 in TX (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Poolville El (math 32% / reading 37%, grade F, #1,995 of 4,322 statewide, top 50%, 380 students, 52% FRL).
• Market conditions: 288 active listings in the ZIP; 460 units permitted in Wise County in 2024 (243 in 5+ unit buildings).
• Wise County population projected at +27% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 3 sale attempts since 22y ago; this cycle's ask has dropped $41k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 6→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 7.9% vs local median 3.3% in Bridgeport — 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.

Questions for listing agent

• It's been on market 239 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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.