909 W 13th St

Quanah, TX 79252

$165,000D-

4 bd · 3.0 ba · 2,048 sqft · Built 2014 · Manufactured · Pending · 31 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,290/mo
• Mortgage (P&I): −$865
• Tax + insurance: −$275
• HOA: −$0
• Vac / Maint / Mgmt: −$271
• Net cashflow: $-121/mo
• Annual: $-1,450/yr
• Cap rate: 5.41%
• Cash-on-cash: -3.14%
• DSCR: 0.86
• 1% rule: 0.78%
• Cash to close: $46,200

Investor read

• This is a 4-bed/3.0-bath manufactured listed at $165k.
• At list price, monthly cash flow is $-121 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $148k (10.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $129k (21.8% below list).
• It's been on market 31 days — a 3% lower offer ($160k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $129k (21.8% below list) — sets the bar for 1% rule.
• In year one you build about $6k of equity ($1k loan paydown + $5k appreciation (3.0% local appreciation)).
• Location reads 76/100 on livability (#116 in TX, #3,745 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D, amenities F, commute F.
• Quanah ISD (rural): math 44% / reading 37% proficiency, ranked #432 of 826 in TX (top 52%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 26 active listings in the ZIP.
• Hardeman County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 6, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

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 31 days. Have you received any prior offers? Is the seller open to a 22% 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.