10348 Hwy 90 W

Del Rio, TX 78840

$63,000B-

2 bd · 1.0 ba · 644 sqft · Built 2014 · Manufactured · Active · 7 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,057/mo
• Mortgage (P&I): −$330
• Tax + insurance: −$105
• HOA: −$0
• Vac / Maint / Mgmt: −$222
• Net cashflow: $400/mo
• Annual: $4,795/yr
• Cap rate: 13.90%
• Cash-on-cash: 27.18%
• DSCR: 2.21
• 1% rule: 1.68%
• Cash to close: $17,640

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $63k. Condition is rated poor.
• At list price, monthly cash flow is $400 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $63k).
• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $436 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 70/100 on livability (#349 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: health & safety C-, employment D+, amenities F.
• San Felipe-Del Rio CISD (town): math 25% / reading 32% proficiency, ranked #667 of 826 in TX (top 81%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Buena Vista El (math 30% / reading 38%, grade F, #2,149 of 4,322 statewide, top 50%, 792 students, 57% FRL).
• Market conditions: Rents rising (+1.6%/yr); 549 active listings in the ZIP; 85 units permitted in Val Verde County in 2024 (0 in 5+ unit buildings).
• Val Verde County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 4 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• At projected returns (-3.0% appreciation + 1.6% rent growth), your $18k cash investment doubles in ~5 years — after that, you're playing with house money.
• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.

Repairs flagged (vision-AI assessment)

• Major: exterior siding — Weathered and aged appearance
• Major: roof — Aged appearance
• Major: interior walls/paint — No visible interior, likely bare or in poor condition
• Major: bathrooms — No visible bathrooms, likely in poor condition
• Major: kitchen — No visible kitchen, likely in poor condition
• Major: HVAC/mechanicals — No visible HVAC/mechanicals, likely in poor condition