257 County Road 2608 · Bonham, TX 75418

$133,650

3 bd · 1.0 ba · 832 sqft · SingleFamily public records · 179 Days on market

Built 2002 1.60 ac lot ↓ 25% since listing

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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).

• Cash flow +17.3/30.0
• ARV discount +7.5/15.0
• DSCR +5.4/10.0
• 1% rule +4.8/10.0
• Schools +3.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Great country setting only minutes from town and the Bonham Lake. This home sits on a 1.61 acre wooded lot. There is a detached carport and wheelchair ramp. This home offers an open living room and dining area and a galley style kitchen. Primary bedroom has an ensuite bathroom. Lots of opportunity to make this home yours. There is also a storage building in the back yard. Conveniently located only minutes from the lake or shopping and dining in Bonham Tx. Easy commute to Sherman or DFW area. Come take a look today. Sold AS-IS.

Key facts

• Open living room
• Wooded lot
• Detached carport

Tags

• WOODED LOT
• DETACHED CARPORT
• OPEN LIVING ROOM
• GALLEY STYLE KITCHEN
• ENSUITE BATHROOM
• STORAGE BUILDING

Property features AI

Finance

• Other: Lot is approximately 1.601 acres; Will not subdivide
• Financial info: Treat as clear loan type; No second mortgage; Property listed as real estate owned
• HOA & community: No homeowners association

Exterior

• Parking: Covered carport (2 covered spaces, 2 carport spaces)
• Utilities: All-weather road (utility access); Not in a municipal utility district
• Home design: Single family residence; Residential property; Facing and entry details not provided
• Construction: Built in 2002; Siding exterior; Block foundation; Composition roof
• Exterior features: Storage structure on property; All-weather road access

Interior

• Kitchen: No appliances included
• Bedrooms: 3 bedrooms (all on main level); Primary bedroom on main level
• Flooring: Vinyl flooring; Other flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: One-level home; 9 total rooms; One living area; One dining area; Other interior finishes
• Laundry & utility: Utility room with washer hookup; Full-size washer/dryer area

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $134k.

Deal economics

• At list price, monthly cash flow is $99 ($1k/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 $132k (1.6% below list).
• Recommended offer: $118k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.2% vs local median 3.5% in Bonham — 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 64/100 on livability (#785 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D, schools D-, amenities F.
• Bonham ISD (town): math 37% / reading 38% proficiency, ranked #477 of 826 in TX (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 277 active listings in the ZIP; 82 units permitted in Fannin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $924 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Fannin County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 179 days — a 12% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $44k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $117,612 (12.0% below list)

Questions for the listing agent

1. It's been on market 179 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 0.98% ✗
• Cap rate: 7.18%
• Cash-on-cash: 3.17%
• DSCR: 1.14
• GRM: 8.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -11.3%
• Equity multiple: 0.59×
• Total profit: $-15,323
• Equity at exit: $19,928

10-year hold

• IRR: -2.0%
• Equity multiple: 0.86×
• Total profit: $-5,102
• Equity at exit: $11,556

Cash invested: $37,422 (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 75418

• Home prices YoY: -8.9%
• Active inventory: 277
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,316 medium
• Mortgage (P&I): −$701
• Tax from tax record: −$184 /mo · $2,206/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$276
• Net cashflow: $99

Break-even live

Break-even rent $1,190

Max offer price $133,650

Occupancy floor 87%

Sensitivity live

Price	-10% $175	-5% $137	+0% $99	+5% $61	+10% $23
Rent	-10% $-5	-5% $47	+0% $99	+5% $151	+10% $203
Rate	-1.0pp $166	-0.5pp $133	base $99	+0.5pp $64	+1.0pp $29

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: $33,412
• Closing costs: $4,010
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-04-29
   status Pending
2. 2026-04-06
   price $133,650
3. 2026-01-31
   status Active
4. 2026-01-28
   historical
5. 2026-01-19
   price $141,075
6. 2026-01-15
   price $147,250
7. 2025-12-29
   price $155,000
8. 2025-12-05
   price $169,100
9. 2025-10-30
   listed $178,000 Active
10. 2002-07-31
    soldstatus

ⓘ 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: $2,206 · $184/mo
• Projected year-2 tax: $2,446 · $204/mo
• Expected delta: +$239/yr (+$20/mo · 10.9%)

ⓘ 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 ≥110°F today · 22 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 23% 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: $15,789
• − Mortgage interest: −$7,486
• − Property taxes: −$2,206
• − Insurance: −$668
• − Repairs & maintenance: −$1,263
• − Management: −$1,263
• − Depreciation: −$3,888
• Taxable loss: −$987
• Est. tax savings @ 24.0%: +$237
• After-tax cash flow: $1,425/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: Bonham ISD
• NCES district ID: 4810800
• Math proficiency: 37% ▼ -1.00%
• Reading proficiency: 38% ▼ -2.00%
• Median HH income: $41,740
• Composite: 31.63/100
• National rank: #5937
• State rank: #477 of 826 in TX

Livability — Bonham

• Score: 64/100
• State rank: #785
• US rank: #14360

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Fannin County · 15,155 people
• City population: 15,155
• Metro: Bonham, TX
• Population (ZIP): 15,155
• Household income: $68,918
• Rent vs Own: 24.8% rent · 75.2% own
• Severe rent burden: 281.0

Population outlook (Fannin County) Hauer SSP2

• Today (2025): 33,423 people
• By 2030: 33,035 · -1.2%
• By 2040: 32,250 · -3.5%
• By 2050: 31,462 · -5.9%
• By 2075: 29,447 · -11.9%
• By 2100: 25,459 · -23.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Hispanic / Latino 17% Black 10% Two or more races 8%
• Hispanic origin (detail): Mexican 16%
• Common ancestry: Lithuanian 3% Slovak 1% Italian 1%
• Foreign-born: 7% · Canada, Philippines
• Languages at home: 85% English-only · Spanish 14%

Political lean MEDSL · Fannin

• 2024 margin: Solid R (+67.4) · D 15.9% · R 83.3%
• 2008→2024 swing: -27.8pp toward R · 2008: -39.6pp · 2024: -67.4pp
• All cycles: 2024: R+67.4 2020: R+63.4 2016: R+61.9 2012: R+52.5 2008: R+39.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -25.59%
• Current HPI: 262.7177
• Rent YoY: —
• Metro: Bonham, TX
• 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

-24.9% since first listed

10 events — show timeline

• 2026-04-29 Pending — NTREIS
• 2026-04-06 Price Changed $133,650 NTREIS
• 2026-01-31 Relisted — NTREIS
• 2026-01-28 Listing Removed — NTREIS
• 2026-01-19 Price Changed $141,075 NTREIS
• 2026-01-15 Price Changed $147,250 NTREIS
• 2025-12-29 Price Changed $155,000 NTREIS
• 2025-12-05 Price Changed $169,100 NTREIS
• 2025-10-30 Listed $178,000 NTREIS
• 2002-07-31 Sold (Public Records) — Public Records

Property tax history

+5.6%/yr

Latest (2025): $2,206 · -7.8% YoY. Source: county tax records.