301 Pr 67004 · Redwater, TX 75567

$219,000

3 bd · 2.0 ba · 1,734 sqft · Manufactured public records · 90 Days on market

Built 2005 1.25 ac lot $126/sqft · 20% below area Est $275k · 20% under

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Why this score? — see what drove the D 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).

• ARV discount +15.0/15.0
• Cash flow +6.6/30.0
• Appreciation +5.0/10.0
• Schools +4.6/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +0.8/10.0
• 1% rule +0.5/10.0

Listing remarks MLS

If you are looking for space to build and create at home - this one has it! This property has 1734 sq ft- including 3 bedrooms, 2 bathrooms, 2 living areas, and an additional area that can be used as an office, craft room, family room, or man cave. Outside, there is an RV awning with electricity, a large walk-in well house with water softener and cedar work bench, a full home generator, and 2 other storage buildings. There is a separate fenced area (that is perfect for pets) and a porch with a small screened-in area and pet door. Come check out the possibilities held in this home!

Key facts

• Separate fenced area
• Full home generator
• 1.25 acre lot

Tags

• RV AWNING WITH ELECTRICITY
• LARGE WALK-IN WELL HOUSE
• FULL HOME GENERATOR
• SEPARATE FENCED AREA
• PORCH WITH SCREENED-IN AREA

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $219k.

Deal economics

• At list price, monthly cash flow is $-362 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $155k (29.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $120k (45.0% below list).
• Recommended offer: $120k (45.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 68/100 on livability (#467 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 F.
• Redwater ISD (rural): math 58% / reading 48% proficiency, ranked #123 of 826 in TX (top 15%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Redwater El (math 42% / reading 47%, grade F, #1,155 of 4,322 statewide, top 29%, 313 students, 54% FRL); Redwater Int (math 55% / reading 34%, grade D, #491 of 1,662 statewide, top 31%, 227 students, 62% FRL); Redwater H S (math 77% / reading 67%, grade B+, #95 of 1,632 statewide, top 7%, 339 students, 44% FRL) — zoned schools average 53% FRL vs 36% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 40 active listings in the ZIP; 137 units permitted in Bowie County in 2024 (5 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($2k loan paydown + $7k appreciation (3.0% local appreciation)).
• By year 5, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 90 days — a 6% lower offer ($206k) 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→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $120,433 (45.0% below list)

Questions for the listing agent

1. 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?
2. It's been on market 90 days. Have you received any prior offers? Is the seller open to a 45% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 0.55% ✗
• Cap rate: 4.31%
• Cash-on-cash: -7.09%
• DSCR: 0.68
• GRM: 15.2

CMA / ARV

• ARV (median comp): $275,061
• List price: $219,000
• Delta: -18.56%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 0.9%
• Equity multiple: 1.05×
• Total profit: $3,215
• Equity at exit: $98,472

10-year hold

• IRR: 4.6%
• Equity multiple: 1.71×
• Total profit: $43,656
• Equity at exit: $151,757

Cash invested: $61,320 (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 75567

• Active inventory: 40
• Price-to-rent: 15.2×

Monthly cashflow live

• Estimated rent: $1,204 medium
• Mortgage (P&I): −$1,148
• Tax from tax record: −$74 /mo · $886/yr
• Insurance: −$91
• HOA: −$0
• Vacancy / Maint / Mgmt: −$253
• Net cashflow: $-362

Break-even live

Break-even rent $1,663

Max offer price $155,035

Occupancy floor —

Sensitivity live

Price	-10% $-238	-5% $-300	+0% $-362	+5% $-424	+10% $-486
Rent	-10% $-457	-5% $-410	+0% $-362	+5% $-315	+10% $-267
Rate	-1.0pp $-252	-0.5pp $-306	base $-362	+0.5pp $-419	+1.0pp $-477

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: $54,750
• Closing costs: $6,570
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-22
   pricedays on market $219,000 Active 90 DOM
2. 2026-06-19
   days on market $224,000 Active 88 DOM
3. 2026-06-18
   days on market $224,000 Active 87 DOM
4. 2026-06-17
   days on market $224,000 Active 86 DOM
5. 2026-06-16
   days on market $224,000 Active 85 DOM
6. 2026-06-15
   days on market $224,000 Active 84 DOM
7. 2026-06-14
   days on market $224,000 Active 82 DOM
8. 2026-06-13
   days on market $224,000 Active 81 DOM
9. 2026-06-10
   days on market $224,000 Active 79 DOM
10. 2026-06-09
    days on market $224,000 Active 78 DOM
11. 2026-06-08
    days on market $224,000 Active 77 DOM
12. 2026-06-07
    days on market $224,000 Active 76 DOM
13. 2026-06-02
    days on market $224,000 Active 71 DOM
14. 2026-06-01
    days on market $224,000 Active 70 DOM
15. 2026-05-31
    days on market $224,000 Active 69 DOM
16. 2026-05-30
    days on market $224,000 Active 68 DOM
17. 2026-03-19
    listed $224,000 Active 587-char remark

    Show marketing remark (587 chars)

    If you are looking for space to build and create at home - this one has it! This property has 1734 sq ft- including 3 bedrooms, 2 bathrooms, 2 living areas, and an additional area that can be used as an office, craft room, family room, or man cave. Outside, there is an RV awning with electricity, a large walk-in well house with water softener and cedar work bench, a full home generator, and 2 other storage buildings. There is a separate fenced area (that is perfect for pets) and a porch with a small screened-in area and pet door. Come check out the possibilities held in this home!

ⓘ 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: $886 · $74/mo
• Projected year-2 tax: $4,008 · $334/mo
• Expected delta: +$3,122/yr (+$260/mo · 352.5%)

ⓘ 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 7/10 Severe
• 🌡 Heat 7/10 Severe 7 d/yr ≥111°F today · 23 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,452
• − Mortgage interest: −$12,267
• − Property taxes: −$886
• − Insurance: −$1,095
• − Repairs & maintenance: −$1,156
• − Management: −$1,156
• − Depreciation: −$6,371
• Taxable loss: −$8,479
• Est. tax savings @ 24.0%: +$2,035
• After-tax cash flow: $-2,310/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: Redwater ISD
• NCES district ID: 4836750
• Math proficiency: 58% ▼ -4.00%
• Reading proficiency: 48% ▼ -2.00%
• Median HH income: $56,454
• Composite: 45.94/100
• National rank: #2542
• State rank: #123 of 826 in TX

Livability — Redwater

• Score: 68/100
• State rank: #467
• US rank: #9379

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 3,762

Population outlook (Bowie County) Hauer SSP2

• Today (2025): 94,699 people
• By 2030: 94,824 · +0.1%
• By 2040: 94,870 · +0.2%
• By 2050: 93,686 · -1.1%
• By 2075: 90,082 · -4.9%
• By 2100: 76,579 · -19.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Black 7% Two or more races 4% Asian 2% Hispanic / Latino 2%
• Common ancestry: Lithuanian 1% Italian 1% Iranian 1%
• Foreign-born: 3% · Canada, South Korea
• Languages at home: 96% English-only · Spanish 2% Tagalog/Filipino 1% Korean 1%

Political lean MEDSL · Bowie

• 2024 margin: Solid R (+48.7) · D 25.3% · R 74.0%
• 2008→2024 swing: -10.8pp toward R · 2008: -37.9pp · 2024: -48.7pp
• All cycles: 2024: R+48.7 2020: R+42.8 2016: R+46.6 2012: R+41.5 2008: R+37.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• 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

1 event — show timeline

• 2026-03-19 Listed $224,000 TBOR

Property tax history

+0.8%/yr

Latest (2025): $886 · +10.7% YoY. Source: county tax records.