103 Clover · Lakeshore Gardens-Hidden Acres, TX 78368

$45,000

2 bd · 2.0 ba · 1,122 sqft · Manufactured public records · 56 Days on market

Built 1983 1.00 ac lot

---

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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +7.2/10.0
• Schools +4.8/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Waterfront opportunity on the north side of Lake Corpus Christi in the city of Mathis. This property offers direct lake access when water levels are full, with approximately 12-foot depth at the rear of the lot - creating the potential to launch a boat right from your own backyard. Whether you are looking for a weekend fishing retreat, future lakefront homesite, or investment project, the location and water frontage provide significant long-term upside. The existing structure on the property has experienced fire damage and is considered a complete teardown. The home is condemned and the interior contains substantial personal property and debris. The value here is firmly in the land, the waterfront positioning, and the opportunity to start fresh with new construction or redevelopment suited to your vision. Utilities are present, and the lot offers the rare combination of affordability and lakefront potential in a growing recreational area. Buyers seeking a project property, builder-investors, or those wanting to secure a waterfront parcel at an entry-level price point should take note. This property is priced at $45,000 and is being offered for cash purchase. Sold as-is, where-is. No repairs or cleanup will be performed by the seller.

Key facts

• Direct lake access
• Lakefront potential
• 12 foot depth

Tags

• WATERFRONT OPPORTUNITY
• DIRECT LAKE ACCESS
• 12 FOOT DEPTH
• LAKEFRONT POTENTIAL

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $45k.

Deal economics

• At list price, monthly cash flow is $494 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• Recommended offer: $44k (3.0% below list) — sets the bar for market timing.
• Cap rate 22.8% vs local median 4.3% in Lakeshore Gardens-Hidden Acres — 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: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• George West ISD (rural): math 55% / reading 59% proficiency, ranked #95 of 826 in TX (top 12%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 109 active listings in the ZIP; 12 units permitted in Live Oak County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($311 loan paydown + $2k appreciation (4.4% local appreciation)).
• Live Oak County population projected at +33% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (4.4% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 56 days — a 3% lower offer ($44k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $125/mo.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $43,650 (3.0% below list)

Questions for the listing agent

1. It's been on market 56 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
5. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
6. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
7. 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.
8. 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.
9. 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: 2.53% ✓
• Cap rate: 22.81%
• Cash-on-cash: 59.01%
• DSCR: 3.63
• GRM: 3.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.39% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 54.1%
• Equity multiple: 4.20×
• Total profit: $40,379
• Equity at exit: $23,848

10-year hold

• IRR: 52.5%
• Equity multiple: 8.60×
• Total profit: $95,787
• Equity at exit: $39,852

Cash invested: $12,600 (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 78368

• Home prices YoY: 4.7%
• Active inventory: 109
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $1,139 medium
• Mortgage (P&I): −$236
• Tax from tax record: −$26 /mo · $310/yr
• Insurance: −$19
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$239
• Net cashflow: $494

Break-even live

Break-even rent $514

Max offer price $45,000

Occupancy floor 52%

Sensitivity live

Price	-10% $520	-5% $507	+0% $494	+5% $482	+10% $469
Rent	-10% $404	-5% $449	+0% $494	+5% $539	+10% $584
Rate	-1.0pp $517	-0.5pp $506	base $494	+0.5pp $483	+1.0pp $471

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-05-15
   status Pending 1262-char remark

   Show marketing remark (1262 chars)

   Waterfront opportunity on the north side of Lake Corpus Christi in the city of Mathis. This property offers direct lake access when water levels are full, with approximately 12-foot depth at the rear of the lot - creating the potential to launch a boat right from your own backyard. Whether you are looking for a weekend fishing retreat, future lakefront homesite, or investment project, the location and water frontage provide significant long-term upside. The existing structure on the property has experienced fire damage and is considered a complete teardown. The home is condemned and the interior contains substantial personal property and debris. The value here is firmly in the land, the waterfront positioning, and the opportunity to start fresh with new construction or redevelopment suited to your vision. Utilities are present, and the lot offers the rare combination of affordability and lakefront potential in a growing recreational area. Buyers seeking a project property, builder-investors, or those wanting to secure a waterfront parcel at an entry-level price point should take note. This property is priced at $45,000 and is being offered for cash purchase. Sold as-is, where-is. No repairs or cleanup will be performed by the seller.

2. 2026-05-14
   historical Active Option 1262-char remark

   Show marketing remark (1262 chars)

   Waterfront opportunity on the north side of Lake Corpus Christi in the city of Mathis. This property offers direct lake access when water levels are full, with approximately 12-foot depth at the rear of the lot - creating the potential to launch a boat right from your own backyard. Whether you are looking for a weekend fishing retreat, future lakefront homesite, or investment project, the location and water frontage provide significant long-term upside. The existing structure on the property has experienced fire damage and is considered a complete teardown. The home is condemned and the interior contains substantial personal property and debris. The value here is firmly in the land, the waterfront positioning, and the opportunity to start fresh with new construction or redevelopment suited to your vision. Utilities are present, and the lot offers the rare combination of affordability and lakefront potential in a growing recreational area. Buyers seeking a project property, builder-investors, or those wanting to secure a waterfront parcel at an entry-level price point should take note. This property is priced at $45,000 and is being offered for cash purchase. Sold as-is, where-is. No repairs or cleanup will be performed by the seller.

3. 2026-03-20
   listed $45,000 New 1262-char remark

   Show marketing remark (1262 chars)

   Waterfront opportunity on the north side of Lake Corpus Christi in the city of Mathis. This property offers direct lake access when water levels are full, with approximately 12-foot depth at the rear of the lot - creating the potential to launch a boat right from your own backyard. Whether you are looking for a weekend fishing retreat, future lakefront homesite, or investment project, the location and water frontage provide significant long-term upside. The existing structure on the property has experienced fire damage and is considered a complete teardown. The home is condemned and the interior contains substantial personal property and debris. The value here is firmly in the land, the waterfront positioning, and the opportunity to start fresh with new construction or redevelopment suited to your vision. Utilities are present, and the lot offers the rare combination of affordability and lakefront potential in a growing recreational area. Buyers seeking a project property, builder-investors, or those wanting to secure a waterfront parcel at an entry-level price point should take note. This property is priced at $45,000 and is being offered for cash purchase. Sold as-is, where-is. No repairs or cleanup will be performed by the seller.

ⓘ 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: $310 · $26/mo
• Projected year-2 tax: $824 · $69/mo
• Expected delta: +$513/yr (+$43/mo · 165.2%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone A · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥111°F today · 21 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,674
• − Mortgage interest: −$2,521
• − Property taxes: −$310
• − Insurance: −$1,727
• − Repairs & maintenance: −$1,094
• − Management: −$1,094
• − Depreciation: −$1,309
• Taxable income: $5,618
• Est. tax owed @ 24.0%: −$1,348
• After-tax cash flow: $4,584/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: George West ISD
• NCES district ID: 4820550
• Math proficiency: 55% ▼ -7.00%
• Reading proficiency: 59% ▲ 2.00%
• Median HH income: $45,721
• Composite: 48.17/100
• National rank: #2175
• State rank: #95 of 826 in TX

Livability — Lakeshore Gardens-Hidden Acres

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 9,474

Population outlook (Live Oak County) Hauer SSP2

• Today (2025): 13,886 people
• By 2030: 14,793 · +6.5%
• By 2040: 16,633 · +19.8%
• By 2050: 18,511 · +33.3%
• By 2075: 23,859 · +71.8%
• By 2100: 26,396 · +90.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Hispanic (61%)
• Race & ethnicity: Hispanic / Latino 61% White 33% Two or more races 32%
• Hispanic origin (detail): Mexican 55%
• Common ancestry: Romanian 1% Lithuanian 1% Serbian 1%
• Foreign-born: 1% · Canada
• Languages at home: 60% English-only · Spanish 39%

Political lean MEDSL · Live Oak

• 2024 margin: Solid R (+69.6) · D 14.9% · R 84.6%
• 2008→2024 swing: -20.6pp toward R · 2008: -49.0pp · 2024: -69.6pp
• All cycles: 2024: R+69.6 2020: R+66.9 2016: R+63.5 2012: R+54.5 2008: R+49.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.39%
• Current HPI: 98.6577
• 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

3 events — show timeline

• 2026-05-15 Pending — LERA
• 2026-05-14 Contingent — LERA
• 2026-03-20 Listed $45,000 LERA

Property tax history

+1.7%/yr

Latest (2025): $310 · +12.1% YoY. Source: county tax records.