623 W Commerce St

Crowell, TX 79227

$160,000D-

3 bd · 1.0 ba · 1,740 sqft · Built 2019 · Manufactured · Active · 34 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,208/mo
• Mortgage (P&I): −$839
• Tax + insurance: −$246
• HOA: −$0
• Vac / Maint / Mgmt: −$254
• Net cashflow: $-131/mo
• Annual: $-1,566/yr
• Cap rate: 5.31%
• Cash-on-cash: -3.50%
• DSCR: 0.84
• 1% rule: 0.76%
• Cash to close: $44,800

Investor read

• This is a 3-bed/1.0-bath manufactured listed at $160k.
• At list price, monthly cash flow is $-131 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $137k (14.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $121k (24.5% below list).
• It's been on market 34 days — a 3% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $121k (24.5% below list) — sets the bar for 1% rule.
• In year one you build about $2k of equity ($1k loan paydown + $1k appreciation (0.8% local appreciation)).
• Location reads 67/100 on livability (#511 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, schools F, amenities F.
• Crowell ISD (rural): math 40% / reading 30% proficiency, ranked #917 of 1,141 in TX (top 80%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 8 active listings in the ZIP.
• Foard County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

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 34 days. Have you received any prior offers? Is the seller open to a 24% 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?
• 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.