5931 County Road 22900 · Paris, TX 75460

$54,900

2 bd · 1.0 ba · 924 sqft · Manufactured public records · 36 Days on market

Built 1995 1.54 ac lot Est $101k · 45% under ↓ 31% since listing

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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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.4/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Country Living on 1.54 Acres in Paris, TX – Great Investment or Starter Property Opportunity awaits at 5931 County Road 22900 in Paris! Situated on approximately 1.54 acres, this property offers peaceful country living with plenty of room to expand, improve, or customize to your needs. The property includes an existing mobile home and utilities already in place, making it ideal for an investment property, rental, starter home, or future homesite. Enjoy the privacy of rural living while still being conveniently located near town amenities, shopping, schools, and major roadways. Whether you are looking for a fixer-upper, affordable land ownership, or a property with long-term poten

Key facts

• 1.54 acres
• Existing mobile home
• 1.54 acre lot

Tags

• 1.54 ACRES
• EXISTING MOBILE HOME
• UTILITIES ALREADY IN PLACE
• PRIVACY OF RURAL LIVING

Property features AI

Finance

• Other: Parcel number 100546
• Financial info: Listing terms: Cash or Conventional; Treat as clear loan type; No second mortgage
• HOA & community: No association

Exterior

• Parking: Carport (2 carport spaces)
• Utilities: Municipal utility district: No
• Home design: Single family residence; Residential property; One story
• Construction: Composition roof; Pillar/post/pier foundation; Built in 1995
• Exterior features: Asphalt utilities; Lot of about 1.54 acres; Will not subdivide

Interior

• Kitchen: Other appliances
• Bedrooms: 2 bedrooms (both on first level)
• Flooring: Carpet; Linoleum
• Bathrooms: 1 full bathroom
• Heating & cooling: Window unit cooling
• Interior features: 3 total rooms; 1 living area; 1 dining area; Other interior features

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $55k.

Deal economics

• At list price, monthly cash flow is $468 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Recommended offer: $53k (3.0% below list) — sets the bar for market timing.
• Cap rate 16.5% vs local median 3.6% in Paris — 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.

Location & tenants

• Location reads 61/100 on livability (#984 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Chisum ISD (rural): math 48% / reading 56% proficiency, ranked #146 of 826 in TX (top 18%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Chisum El (math 43% / reading 61%, grade C-, #742 of 4,322 statewide, top 19%, 593 students, 44% FRL) — zoned schools at 44% FRL track the district average.
• Market conditions: 274 active listings in the ZIP; 119 units permitted in Lamar County in 2024 (71 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $380 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Lamar County population projected at -13% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($53k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $53,253 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.85% ✓
• Cap rate: 16.52%
• Cash-on-cash: 36.53%
• DSCR: 2.63
• GRM: 4.5

CMA / ARV

• ARV (on-the-fly): $100,716
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
78 County Road 22820	0.31mi	2/2.0	960 (+4%)	7mo	$105,000	$109	69

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 32.3%
• Equity multiple: 2.36×
• Total profit: $20,892
• Equity at exit: $8,186

10-year hold

• IRR: 39.4%
• Equity multiple: 4.68×
• Total profit: $56,518
• Equity at exit: $4,747

Cash invested: $15,372 (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 75460

• Active inventory: 274
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $1,017 medium
• Mortgage (P&I): −$288
• Tax from tax record: −$25 /mo · $298/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$214
• Net cashflow: $468

Break-even live

Break-even rent $425

Max offer price $54,900

Occupancy floor 49%

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: $13,725
• Closing costs: $1,647
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-19
   days on market $54,900 Active 36 DOM
2. 2026-06-18
   days on market $54,900 Active 35 DOM
3. 2026-06-17
   days on market $54,900 Active 34 DOM
4. 2026-06-16
   days on market $54,900 Active 33 DOM
5. 2026-06-15
   days on market $54,900 Active 32 DOM
6. 2026-06-14
   days on market $54,900 Active 30 DOM
7. 2026-06-13
   price $54,900 Active 29 DOM
8. 2026-06-12
   days on market $64,900 Active 29 DOM
9. 2026-06-09
   days on market $64,900 Active 26 DOM
10. 2026-06-08
    days on market $64,900 Active 25 DOM
11. 2026-06-07
    days on market $64,900 Active 24 DOM
12. 2026-06-05
    pricedays on market $64,900 Active 22 DOM
13. 2026-06-03
    days on market $69,900 Active 20 DOM
14. 2026-06-02
    days on market $69,900 Active 19 DOM
15. 2026-06-01
    days on market $69,900 Active 18 DOM
16. 2026-05-31
    days on market $69,900 Active 17 DOM
17. 2026-05-31
    days on market $69,900 Active 16 DOM
18. 2026-05-14
    listed $79,900 Active 801-char remark
19. 2020-08-24
    soldstatus
20. 2002-01-18
    soldstatus

ⓘ 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: $298 · $25/mo
• Projected year-2 tax: $1,005 · $84/mo
• Expected delta: +$706/yr (+$59/mo · 236.6%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥110°F today · 22 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,206
• − Mortgage interest: −$3,075
• − Property taxes: −$298
• − Insurance: −$274
• − Repairs & maintenance: −$976
• − Management: −$976
• − Depreciation: −$1,597
• Taxable income: $5,007
• Est. tax owed @ 24.0%: −$1,202
• After-tax cash flow: $4,413/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.

Schools (NCES district)

• District: Chisum ISD
• NCES district ID: 4800012
• Math proficiency: 48% ▼ -8.00%
• Reading proficiency: 56% ▼ -6.00%
• Median HH income: $48,459
• Composite: 44.27/100
• National rank: #2839
• State rank: #146 of 826 in TX

Livability — Paris

• Score: 61/100
• State rank: #984
• US rank: #17535

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment F Housing A+ Health & safety F User ratings D

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Lamar County · 23,426 people
• City population: 23,426
• Metro: Paris, TX
• Population (ZIP): 23,426
• Household income: $46,473
• Rent vs Own: 49.7% rent · 50.3% own
• Severe rent burden: 1355.0

Population outlook (Lamar County) Hauer SSP2

• Today (2025): 48,319 people
• By 2030: 47,160 · -2.4%
• By 2040: 44,621 · -7.7%
• By 2050: 42,024 · -13.0%
• By 2075: 36,577 · -24.3%
• By 2100: 30,580 · -36.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 58% Black 22% Hispanic / Latino 13% Two or more races 8%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Lithuanian 1% Slovak 1% Italian 1%
• Foreign-born: 3% · Canada, China
• Languages at home: 92% English-only · Spanish 7%

Political lean MEDSL · Lamar

• 2024 margin: Solid R (+61.0) · D 19.2% · R 80.3%
• 2008→2024 swing: -19.1pp toward R · 2008: -42.0pp · 2024: -61.0pp
• All cycles: 2024: R+61.0 2020: R+57.4 2016: R+59.2 2012: R+50.3 2008: R+42.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -201.50%
• Current HPI: 145.3511
• Rent YoY: —
• Metro: Paris, TX
• 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

-31.3% since first listed

6 events — show timeline

• 2026-06-13 Price Changed $54,900 NTREIS
• 2026-06-05 Price Changed $64,900 NTREIS
• 2026-05-21 Price Changed $69,900 NTREIS
• 2026-05-14 Listed $79,900 NTREIS
• 2020-08-24 Sold (Public Records) — Public Records
• 2002-01-18 Sold (Public Records) — Public Records

Property tax history

+5.4%/yr

Latest (2025): $298 · +10.8% YoY. Source: county tax records.