1509 E Apache Trl · Granbury, TX 76048

$110,000

2 bd · 2.0 ba · 962 sqft · Manufactured public records · 94 Days on market

Built 1983 10,019 sqft lot $114/sqft · 25% below area Est $146k · 25% under $33/mo HOA · 2% of rent ↓ 12% since listing

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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 +28.6/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.5/10.0
• Schools +4.0/10.0
• Livability +3.3/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

POSSIBLE NON TRADITIONAL OR OWNER FINANCE OPPORTUNITY!! $$MOTIVATED SELLER!! ANY REASONABLE OFFER WILL BE CONSIDERED! Charming Updated two bed, two bath home in Indian Harbor! Discover this mostly renovated single-wide manufactured home built in 1983, offering comfortable living and modern updates throughout. Brand new kitchen appliances- TO BE INSTALLED THE WEEK OF OCTOBER 15- make entertaining a breeze. A large covered front porch nestled among the trees is ideal for relaxing and enjoying this fun community. Please visit www.indianharbor.info to familiarize yourself with the Indian Harbor lifestyle. It is a true gem! The property also includes a separate structure that could serve as guest quarters, studio, or private retreat — perfect for extended family or visitors. Located in the desirable gated community of Indian Harbor in Granbury, Texas, residents enjoy fantastic amenities including a community clubhouse, marina with boat ramp, pool, playground, tennis courts, and 24-hour security. Just minutes from historic downtown Granbury and Lake Granbury, this home offers the ideal blend of privacy, comfort, and access to recreation.Come see the value and possibilities this property has to offer in one of Granbury’s most sought-after lake communities! This home would make an EXCELLENT weekend getaway spot as it is just steps to lake Granbury. From and investment standpoint, the separate structure can easily be transformed into extra living, garage, or flex space and is a HUGE bonus to this nearly quarter acre lot! **seller installing new range and microwave the week of Oct 25th.

Key facts

• Community pool
• Separate structure
• Community clubhouse

Tags

• UPDATED KITCHEN APPLIANCES
• LARGE COVERED FRONT PORCH
• SEPARATE STRUCTURE
• COMMUNITY CLUBHOUSE
• MARINA WITH BOAT RAMP
• COMMUNITY POOL

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $110k.

Deal economics

• At list price, monthly cash flow is $364 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $100k (9.0% below list) — sets the bar for market timing.
• Cap rate 10.3% vs local median 3.8% in Granbury — 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 66/100 on livability (#628 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, crime D+, schools D.
• Granbury ISD (town): math 46% / reading 46% proficiency, ranked #237 of 826 in TX (top 29%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+1.1%/yr); 929 active listings in the ZIP; 125 units permitted in Hood County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $761 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Hood County population projected at +29% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 94 days — a 9% lower offer ($100k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $8k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $100,100 (9.0% below list)

Questions for the listing agent

1. It's been on market 94 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.25% ✓
• Cap rate: 10.26%
• Cash-on-cash: 14.18%
• DSCR: 1.63
• GRM: 6.7

CMA / ARV

• ARV (median comp): $145,761
• List price: $110,000
• Delta: -24.53%
• Verdict: UNDERPRICED
• Comps: 7 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3415 Tahitian Ct	0.55mi	2/1.0	896 (-7%)	3mo	$275,000	$307	56

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 1.1% rent growth · sell at horizon

5-year hold

• IRR: 2.4%
• Equity multiple: 1.09×
• Total profit: $2,772
• Equity at exit: $16,401

10-year hold

• IRR: 10.1%
• Equity multiple: 1.72×
• Total profit: $22,079
• Equity at exit: $9,511

Cash invested: $30,800 (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 76048

• Home prices YoY: -23.4%
• Rents YoY: 1.1%
• Active inventory: 929
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,370 medium
• Mortgage (P&I): −$577
• Tax from tax record: −$63 /mo · $755/yr
• Insurance: −$46
• HOA: −$33
• Vacancy / Maint / Mgmt: −$288
• Net cashflow: $364

Break-even live

Break-even rent $910

Max offer price $110,000

Occupancy floor 68%

Sensitivity live

Price	-10% $426	-5% $395	+0% $364	+5% $333	+10% $302
Rent	-10% $256	-5% $310	+0% $364	+5% $418	+10% $472
Rate	-1.0pp $419	-0.5pp $392	base $364	+0.5pp $335	+1.0pp $306

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $33 · $396/yr
• Likely covers: poolsecurity

Listing history 17 events

1. 2026-06-07
   days on market $110,000 Active 94 DOM
2. 2026-06-04
   days on market $110,000 Active 91 DOM
3. 2026-06-03
   days on market $110,000 Active 90 DOM
4. 2026-06-02
   days on market $110,000 Active 89 DOM
5. 2026-06-02
   days on market $110,000 Active 88 DOM
6. 2026-05-31
   days on market $110,000 Active 87 DOM
7. 2026-04-15
   price $110,000 1618-char remark

   Show marketing remark (1618 chars)

   POSSIBLE NON TRADITIONAL OR OWNER FINANCE OPPORTUNITY!! $$MOTIVATED SELLER!! ANY REASONABLE OFFER WILL BE CONSIDERED! Charming Updated two bed, two bath home in Indian Harbor! Discover this mostly renovated single-wide manufactured home built in 1983, offering comfortable living and modern updates throughout. Brand new kitchen appliances- TO BE INSTALLED THE WEEK OF OCTOBER 15- make entertaining a breeze. A large covered front porch nestled among the trees is ideal for relaxing and enjoying this fun community. Please visit www.indianharbor.info to familiarize yourself with the Indian Harbor lifestyle. It is a true gem! The property also includes a separate structure that could serve as guest quarters, studio, or private retreat — perfect for extended family or visitors. Located in the desirable gated community of Indian Harbor in Granbury, Texas, residents enjoy fantastic amenities including a community clubhouse, marina with boat ramp, pool, playground, tennis courts, and 24-hour security. Just minutes from historic downtown Granbury and Lake Granbury, this home offers the ideal blend of privacy, comfort, and access to recreation.Come see the value and possibilities this property has to offer in one of Granbury’s most sought-after lake communities! This home would make an EXCELLENT weekend getaway spot as it is just steps to lake Granbury. From and investment standpoint, the separate structure can easily be transformed into extra living, garage, or flex space and is a HUGE bonus to this nearly quarter acre lot! **seller installing new range and microwave the week of Oct 25th.

8. 2026-03-05
   listed $117,500 Active 1618-char remark

   Show marketing remark (1618 chars)

   POSSIBLE NON TRADITIONAL OR OWNER FINANCE OPPORTUNITY!! $$MOTIVATED SELLER!! ANY REASONABLE OFFER WILL BE CONSIDERED! Charming Updated two bed, two bath home in Indian Harbor! Discover this mostly renovated single-wide manufactured home built in 1983, offering comfortable living and modern updates throughout. Brand new kitchen appliances- TO BE INSTALLED THE WEEK OF OCTOBER 15- make entertaining a breeze. A large covered front porch nestled among the trees is ideal for relaxing and enjoying this fun community. Please visit www.indianharbor.info to familiarize yourself with the Indian Harbor lifestyle. It is a true gem! The property also includes a separate structure that could serve as guest quarters, studio, or private retreat — perfect for extended family or visitors. Located in the desirable gated community of Indian Harbor in Granbury, Texas, residents enjoy fantastic amenities including a community clubhouse, marina with boat ramp, pool, playground, tennis courts, and 24-hour security. Just minutes from historic downtown Granbury and Lake Granbury, this home offers the ideal blend of privacy, comfort, and access to recreation.Come see the value and possibilities this property has to offer in one of Granbury’s most sought-after lake communities! This home would make an EXCELLENT weekend getaway spot as it is just steps to lake Granbury. From and investment standpoint, the separate structure can easily be transformed into extra living, garage, or flex space and is a HUGE bonus to this nearly quarter acre lot! **seller installing new range and microwave the week of Oct 25th.

9. 2026-02-02
   historical
10. 2026-01-14
    price $117,500
11. 2025-12-12
    status Active
12. 2025-11-30
    historical Active Option Contract
13. 2025-11-06
    price $120,000
14. 2025-10-28
    listed $125,000 Active
15. 2023-05-08
    soldstatus
16. 2013-01-03
    soldstatus
17. 2005-09-29
    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: $755 · $63/mo
• Projected year-2 tax: $2,013 · $168/mo
• Expected delta: +$1,258/yr (+$105/mo · 166.6%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥108°F today · 23 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,442
• − Mortgage interest: −$6,162
• − Property taxes: −$755
• − Insurance: −$550
• − Repairs & maintenance: −$1,315
• − Management: −$1,315
• − HOA: −$396
• − Depreciation: −$3,200
• Taxable income: $2,749
• Est. tax owed @ 24.0%: −$660
• After-tax cash flow: $3,706/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: Granbury ISD
• NCES district ID: 4821390
• Math proficiency: 46% ▬ 0.00%
• Reading proficiency: 46% ▲ 4.00%
• Median HH income: $55,856
• Composite: 40.04/100
• National rank: #3820
• State rank: #237 of 826 in TX

Livability — Granbury

• Score: 66/100
• State rank: #628
• US rank: #11998

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Hood County · 58,506 people
• City population: 58,506
• Metro: Granbury, TX
• Population (ZIP): 27,000
• Household income: $70,346
• Rent vs Own: 26.4% rent · 73.6% own
• Severe rent burden: 612.0

Population outlook (Hood County) Hauer SSP2

• Today (2025): 63,502 people
• By 2030: 67,459 · +6.2%
• By 2040: 74,958 · +18.0%
• By 2050: 81,922 · +29.0%
• By 2075: 98,872 · +55.7%
• By 2100: 107,796 · +69.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Hispanic / Latino 14% Two or more races 11% Black 1%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Italian 2% Slovak 2% Portuguese 1%
• Foreign-born: 4% · Canada
• Languages at home: 89% English-only · Spanish 10%

Political lean MEDSL · Hood

• 2024 margin: Solid R (+66.0) · D 16.6% · R 82.6%
• 2008→2024 swing: -11.9pp toward R · 2008: -54.0pp · 2024: -66.0pp
• All cycles: 2024: R+66.0 2020: R+64.1 2016: R+66.5 2012: R+64.7 2008: R+54.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -83.25%
• Current HPI: 272.2126
• Rent YoY: ▲ 1.10%
• Metro: Granbury, 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

-12.0% since first listed

11 events — show timeline

• 2026-04-15 Price Changed $110,000 NTREIS
• 2026-03-05 Listed $117,500 NTREIS
• 2026-02-02 Listing Removed — NTREIS
• 2026-01-14 Price Changed $117,500 NTREIS
• 2025-12-12 Relisted — NTREIS
• 2025-11-30 Contingent — NTREIS
• 2025-11-06 Price Changed $120,000 NTREIS
• 2025-10-28 Listed $125,000 NTREIS
• 2023-05-08 Sold (Public Records) — Public Records
• 2013-01-03 Sold (Public Records) — Public Records
• 2005-09-29 Sold (Public Records) — Public Records

Property tax history

+6.2%/yr

Latest (2025): $755 · -6.3% YoY. Source: county tax records.