4035 Apache Cir · Granbury, TX 76048

$218,000

4 bd · 2.0 ba · 1,650 sqft · SingleFamily public records · 42 Days on market

Built 2004 7,405 sqft lot Est $320k · 32% under $35/mo HOA · 2% of rent ↓ 38% since listing

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Why this score? — see what drove the C 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 +17.7/30.0
• ARV discount +15.0/15.0
• DSCR +5.5/10.0
• 1% rule +4.9/10.0
• 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

Welcome to this spacious 4-bedroom, 2-bath home in the highly sought-after river lakeside Indian Harbor subdivision! Perfectly situated directly across from the community center and pool, this home offers both convenience and a true neighborhood lifestyle. Inside, you’ll find a functional layout with plenty of room for family, guests, or a home office. Step outside to enjoy the oversized covered patio ideal for relaxing evenings, entertaining, or creating your own backyard oasis. The Indian Harbor community is packed with amenities, including a private boat ramp, giving you easy access to the water for boating, fishing, and weekend fun. This home is full of potential and just needs a

Key facts

• Private boat ramp
• 7,405 sq ft lot
• 2 garage spots

Tags

• OVERSIZED COVERED PATIO
• PRIVATE BOAT RAMP

Property features AI

Finance

• Other: Subdivision: Indian Harbor Ph 12; Lot smaller than 0.5 acre
• Financial info: Listing terms include cash and conventional financing
• HOA & community: Mandatory HOA; HOA provides full use of facilities; HOA fee paid annually; HOA contact: Indian Harbor HOA

Exterior

• Parking: 2 covered parking spaces; Driveway; Attached 2-car garage
• Utilities: MUD water; Aerobic septic; Located in a municipal utility district
• Home design: Single-family residence; One story; Residential property
• Construction: Built in 2004; Composition roof; Combination/other foundation
• Exterior features: Above-ground pool; Boat ramp access (community); Community pool

Interior

• Kitchen: Dishwasher; Breakfast bar; Pantry; Kitchen island
• Bedrooms: 4 bedrooms (all on main level); Primary bedroom on main level with ensuite bathroom
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Open floorplan; Kitchen island; Pantry; Built-in features; One living area; One dining area; 7 total rooms
• Laundry & utility: Full-size washer/dryer area

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $218k.

Deal economics

• At list price, monthly cash flow is $175 ($2k/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 $217k (0.6% below list).
• Recommended offer: $211k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.3% 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+, amenities F.
• 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.
• Zoned schools: Mambrino School (math 53% / reading 48%, grade D+, #833 of 4,322 statewide, top 20%, 886 students, 53% FRL).
• Market conditions: Rents rising (+1.1%/yr); 929 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 43% of comp listings sitting > 30 days — soft ceiling on asking rent; 125 units permitted in Hood County in 2024 (0 in 5+ unit buildings).
• This rent runs 37% of the median local income ($70k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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 42 days — a 3% lower offer ($211k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 4y ago 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.

Risks & watch-outs

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

Recommended offer $211,460 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% 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. 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. 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?
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: 0.99% ✗
• Cap rate: 7.25%
• Cash-on-cash: 3.44%
• DSCR: 1.15
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $320,100
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1320 Laredo Dr	0.31mi	3/2.0 (-1)	1,616 (-2%)	4mo	$190,000	$118	74
1201 E Apache Trl	0.12mi	3/2.0 (-1)	1,821 (+10%)	2mo	$306,000	$168	70
1103 Laramie Ct	0.14mi	3/2.0 (-1)	1,493 (-10%)	5mo	$285,000	$191	69
1013 Mojave Trl	0.37mi	4/2.0	1,828 (+11%)	2mo	$355,000	$194	64
1305 Shawnee Trl	0.24mi	3/2.0 (-1)	1,808 (+10%)	9mo	$400,000	$221	60
4101 Pima Ct	0.26mi	4/2.0	1,882 (+14%)	8mo	$340,000	$181	58
3906 Chippewa Ct	0.41mi	3/2.0 (-1)	1,760 (+7%)	9mo	$349,000	$198	57
3815 Silver Creek Ct	0.44mi	3/2.0 (-1)	1,820 (+10%)	1mo	$549,000	$302	57
4007 Cherokee Ct	0.73mi	3/2.0 (-1)	1,644 (-0%)	6mo	$399,000	$243	56
3611 Broken Bow Dr	0.53mi	3/2.0 (-1)	1,516 (-8%)	2mo	$275,000	$181	55
4001 Marana Dr	0.52mi	3/2.0 (-1)	1,412 (-14%)	2mo	$320,000	$227	45
840 Tepee Trl	0.58mi	3/2.0 (-1)	1,436 (-13%)	4mo	$235,000	$164	43

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: -13.1%
• Equity multiple: 0.54×
• Total profit: $-28,211
• Equity at exit: $32,505

10-year hold

• IRR: -7.4%
• Equity multiple: 0.57×
• Total profit: $-26,088
• Equity at exit: $18,849

Cash invested: $61,040 (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: 8.4×

Monthly cashflow live

• Estimated rent: $2,168 high
• Mortgage (P&I): −$1,143
• Tax from tax record: −$269 /mo · $3,224/yr
• Insurance: −$91
• HOA: −$35
• Vacancy / Maint / Mgmt: −$455
• Net cashflow: $175

Break-even live

Break-even rent $1,946

Max offer price $218,000

Occupancy floor 87%

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: $54,500
• Closing costs: $6,540
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3607 Sioux Trl Granbury, TX	3.0	2.5	1860	$2,100	$1.13	7d	1	0.55mi
1418 Cheyenne Trl Granbury, TX	3.0	2.0	1826	$2,400	$1.31	44d	1	0.60mi
4710 Llano St Granbury, TX	3.0	2.0	1456	$1,775	$1.22	44d	1	1.02mi
2414 Forest Hill Ln Granbury, TX	3.0	2.0	1493	$2,150	$1.44	4d	1	1.08mi
2700 Steepleridge Cir Granbury, TX	3.0	2.0	1438	$1,895	$1.32	7d	1	1.08mi
4014 Mountain Vista Dr Granbury, TX	3.0	2.0	1575	$1,495	$0.95	44d	1	1.18mi
2213 Beverly Dr Granbury, TX	4.0	2.5	1850	$2,300	$1.24	24d	1	1.25mi

HOA detail

• Monthly dues: $35 · $420/yr
• Likely covers: waterpool

Listing history 26 events

1. 2026-04-30
   status Pending
2. 2026-03-26
   historical Active Option Contract
3. 2026-03-15
   listed $218,000 Active
4. 2025-05-16
   price $195,000
5. 2025-05-16
   status Active
6. 2025-04-27
   historical Active Option Contract
7. 2025-04-23
   price $245,000
8. 2025-04-01
   price $275,000
9. 2025-03-14
   listed $300,000 Active
10. 2025-03-08
    historical
11. 2025-02-24
    status Active
12. 2024-12-09
    status Pending
13. 2024-11-22
    historical Active Option Contract
14. 2024-10-22
    price $355,000
15. 2024-10-17
    status Active
16. 2024-09-22
    status Pending
17. 2024-09-10
    historical Active Option Contract
18. 2024-08-16
    price $325,000
19. 2024-08-09
    price $345,000
20. 2024-06-25
    listed $350,000 Active
21. 2022-05-20
    soldstatus Closed
22. 2022-05-20
    soldstatus
23. 2022-04-12
    historical Active Option Contract
24. 2022-04-07
    listed $350,000 Active
25. 2002-12-18
    soldstatus
26. 1985-12-11
    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: $3,224 · $269/mo
• Projected year-2 tax: $3,989 · $332/mo
• Expected delta: +$765/yr (+$64/mo · 23.7%)

ⓘ 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 5/10 Major
• 🌡 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: $26,012
• − Mortgage interest: −$12,211
• − Property taxes: −$3,224
• − Insurance: −$1,090
• − Repairs & maintenance: −$2,081
• − Management: −$2,081
• − HOA: −$420
• − Depreciation: −$6,342
• Taxable loss: −$1,437
• Est. tax savings @ 24.0%: +$345
• After-tax cash flow: $2,442/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

-37.7% since first listed

26 events — show timeline

• 2026-04-30 Pending — NTREIS
• 2026-03-26 Contingent — NTREIS
• 2026-03-15 Listed $218,000 NTREIS
• 2025-05-16 Price Changed $195,000 NTREIS
• 2025-05-16 Relisted — NTREIS
• 2025-04-27 Contingent — NTREIS
• 2025-04-23 Price Changed $245,000 NTREIS
• 2025-04-01 Price Changed $275,000 NTREIS
• 2025-03-14 Listed $300,000 NTREIS
• 2025-03-08 Listing Removed — NTREIS
• 2025-02-24 Relisted — NTREIS
• 2024-12-09 Pending — NTREIS
• 2024-11-22 Contingent — NTREIS
• 2024-10-22 Price Changed $355,000 NTREIS
• 2024-10-17 Relisted — NTREIS
• 2024-09-22 Pending — NTREIS
• 2024-09-10 Contingent — NTREIS
• 2024-08-16 Price Changed $325,000 NTREIS
• 2024-08-09 Price Changed $345,000 NTREIS
• 2024-06-25 Listed $350,000 NTREIS
• 2022-05-20 Sold (Public Records) — Public Records
• 2022-05-20 Sold (MLS) — NTREIS
• 2022-04-12 Contingent — NTREIS
• 2022-04-07 Listed $350,000 NTREIS
• 2002-12-18 Sold (Public Records) — Public Records
• 1985-12-11 Sold (Public Records) — Public Records

Property tax history

+2.2%/yr

Latest (2025): $3,224 · -3.1% YoY. Source: county tax records.