824 Lois Ln

Odessa, TX 79766

$270,000C

4 bd · 2.0 ba · 2,176 sqft · Built 2019 · Manufactured · Active · 54 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,501/mo
• Mortgage (P&I): −$1,416
• Tax + insurance: −$196
• HOA: −$0
• Vac / Maint / Mgmt: −$525
• Net cashflow: $363/mo
• Annual: $4,360/yr
• Cap rate: 7.91%
• Cash-on-cash: 5.77%
• DSCR: 1.26
• 1% rule: 0.93%
• Cash to close: $75,600

Investor read

• This is a 4-bed/2.0-bath manufactured listed at $270k. Condition is rated good.
• At list price, monthly cash flow is $363 ($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 $250k (7.4% below list).
• It's been on market 54 days — a 3% lower offer ($262k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $250k (7.4% below list) — sets the bar for 1% rule.
• In year one you build about $15k of equity ($2k loan paydown + $13k appreciation (4.9% local appreciation)).
• Location reads 75/100 on livability (#132 in TX, #3,928 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: commute D+, amenities D.
• Crane ISD (town): math 36% / reading 33% proficiency, ranked #510 of 826 in TX (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Crane El (math 30% / reading 29%, grade F, #2,525 of 4,322 statewide, top 62%, 590 students, 68% FRL); Crane Middle (math 31% / reading 31%, grade F, #1,015 of 1,662 statewide, top 62%, 258 students, 60% FRL); Crane H S (math 67% / reading 47%, grade C, #333 of 1,632 statewide, top 22%, 331 students, 55% FRL) — zoned schools average 61% FRL vs 31% district-wide (30 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 97 active listings in the ZIP; 2 units permitted in Crane County in 2024 (0 in 5+ unit buildings).
• Crane County population projected at +71% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (4.9% appreciation + 3.0% rent growth), your $76k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 54 days. Have you received any prior offers? Is the seller open to a 7% 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.