1618 Lands End St · Granbury, TX 76048

$195,900

3 bd · 2.0 ba · 1,376 sqft · Manufactured public records · 126 Days on market

Built 2022 9,248 sqft lot $142/sqft · 39% below area Est $321k · 39% under $33/mo HOA · 2% of rent

---

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 +22.1/30.0
• ARV discount +15.0/15.0
• DSCR +7.1/10.0
• 1% rule +5.7/10.0
• 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

Welcome to your dream home that also qualifies for 0% down for qualified buyers! This charming 3-bedroom, 2-bathroom residence is nestled on just under a quarter acre in the sought-after gated community of Indian Harbors. With an open floor plan designed for seamless living, this space is perfect for entertaining family and friends. The generous primary suite features a walk-in closet and a luxurious garden tub, offering both comfort and convenience as it connects seamlessly to the laundry room. Step outside to a spacious backyard adorned with pavers and a fire pit—ideal for cozy evenings and gatherings under the stars. A nearly new shed provides ample storage for gardening tools and outdoor essentials, while a trampoline adds fun for both kids and adults alike. Living in Indian Harbors means enjoying fantastic community amenities, including a marina, boat dock, community pool, playground, and much more—perfect for an active lifestyle. This home is not just a residence; it’s a place to create lasting memories. Don’t miss your chance to make it yours! Schedule your showing today and discover the lifestyle that awaits you in Indian Harbors! If you're interested to find out if you qualify to buy this home with NO DOWN PAYMENT, please call Shawn Malkou - phone number is in the private remarks.

Key facts

• 9,248 sq ft lot
• Community pool
• Built 2022

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $196k.

Deal economics

• At list price, monthly cash flow is $314 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $196k).
• Recommended offer: $172k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.2% 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; 12 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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 36% 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 $1k of loan paydown is wiped out by about $6k 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 126 days — a 12% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• 3 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: moderate flood risk; 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 $172,392 (12.0% below list)

Questions for the listing agent

1. It's been on market 126 days. Have you received any prior offers? Is the seller open to a 12% 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: 1.07% ✓
• Cap rate: 8.22%
• Cash-on-cash: 6.87%
• DSCR: 1.31
• GRM: 7.8

CMA / ARV

• ARV (median comp): $321,250
• List price: $195,900
• Delta: -39.02%
• Verdict: UNDERPRICED
• Comps: 8 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3417 Hawaiian Ct	0.44mi	3/2.0	1,352 (-2%)	0mo	$350,000	$259	76
1629 E Apache Trl	0.08mi	3/2.0	1,344 (-2%)	20mo	$189,900	$141	76
1518 Lands End St	0.14mi	3/2.0	1,488 (+8%)	6mo	$129,000	$87	74
4020 Lands End Ct	0.33mi	3/2.0	1,512 (+10%)	12mo	$484,000	$320	58
3405 Samoan Ct	0.45mi	2/2.0 (-1)	1,404 (+2%)	15mo	$250,000	$178	58
4115 Lands End Ct	0.46mi	3/1.0	1,288 (-6%)	8mo	$299,000	$232	57
3427 Tahitian Ct	0.51mi	3/1.0	1,260 (-8%)	9mo	$380,000	$302	50
3415 Pago Pago Ct	0.53mi	3/3.0	1,520 (+10%)	12mo	$394,000	$259	44
3811 Pawnee Ct	0.70mi	3/2.0	1,216 (-12%)	10mo	$200,000	$164	39

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: -7.9%
• Equity multiple: 0.71×
• Total profit: $-15,647
• Equity at exit: $29,209

10-year hold

• IRR: -1.0%
• Equity multiple: 0.94×
• Total profit: $-3,293
• Equity at exit: $16,938

Cash invested: $54,852 (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: 7.8×

Monthly cashflow live

• Estimated rent: $2,094 high
• Mortgage (P&I): −$1,027
• Tax from tax record: −$198 /mo · $2,381/yr
• Insurance: −$82
• HOA: −$33
• Vacancy / Maint / Mgmt: −$440
• Net cashflow: $314

Break-even live

Break-even rent $1,697

Max offer price $195,900

Occupancy floor 80%

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: $48,975
• Closing costs: $5,877
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1418 Cheyenne Trl Granbury, TX	3.0	2.0	1826	$2,400	$1.31	43d	1	0.30mi
2700 Steepleridge Cir Granbury, TX	3.0	2.0	1438	$1,895	$1.32	7d	1	0.98mi
2414 Forest Hill Ln Granbury, TX	3.0	2.0	1493	$2,150	$1.44	3d	1	1.03mi
4710 Llano St Granbury, TX	3.0	2.0	1456	$1,775	$1.22	43d	1	1.07mi
3607 Sioux Trl Granbury, TX	3.0	2.5	1860	$2,100	$1.13	7d	1	1.14mi
2213 Beverly Dr Granbury, TX	4.0	2.5	1850	$2,300	$1.24	24d	1	1.32mi
1713 Bronco Rd Granbury, TX	4.0	2.5	1520	$1,800	$1.18	7d	1	1.40mi
811 Branding Iron Trl Granbury, TX	3.0	2.0	1414	$2,050	$1.45	43d	1	1.42mi
807 Branding Iron Trl Granbury, TX	3.0	2.0	1287	$1,950	$1.52	43d	1	1.42mi
809 Branding Iron Trl Granbury, TX	3.0	2.0	1414	$2,050	$1.45	43d	1	1.42mi
805 Branding Iron Trl Granbury, TX	3.0	2.0	1287	$1,950	$1.52	43d	1	1.44mi
1017 Meadowlark Ln Granbury, TX	3.0	2.0	1725	$2,300	$1.33	12d	1	1.50mi

HOA detail

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

Listing history 20 events

1. 2026-06-04
   days on market $195,900 Active 126 DOM
2. 2026-06-03
   days on market $195,900 Active 125 DOM
3. 2026-06-02
   days on market $195,900 Active 124 DOM
4. 2026-06-02
   days on market $195,900 Active 123 DOM
5. 2026-05-31
   days on market $195,900 Active 122 DOM
6. 2026-02-08
   price $195,900 1334-char remark

   Show marketing remark (1334 chars)

   Welcome to your dream home that also qualifies for 0% down for qualified buyers! This charming 3-bedroom, 2-bathroom residence is nestled on just under a quarter acre in the sought-after gated community of Indian Harbors. With an open floor plan designed for seamless living, this space is perfect for entertaining family and friends. The generous primary suite features a walk-in closet and a luxurious garden tub, offering both comfort and convenience as it connects seamlessly to the laundry room. Step outside to a spacious backyard adorned with pavers and a fire pit—ideal for cozy evenings and gatherings under the stars. A nearly new shed provides ample storage for gardening tools and outdoor essentials, while a trampoline adds fun for both kids and adults alike. Living in Indian Harbors means enjoying fantastic community amenities, including a marina, boat dock, community pool, playground, and much more—perfect for an active lifestyle. This home is not just a residence; it’s a place to create lasting memories. Don’t miss your chance to make it yours! Schedule your showing today and discover the lifestyle that awaits you in Indian Harbors! If you're interested to find out if you qualify to buy this home with NO DOWN PAYMENT, please call Shawn Malkou - phone number is in the private remarks.

7. 2026-01-29
   listed $199,900 Active 1334-char remark

   Show marketing remark (1334 chars)

   Welcome to your dream home that also qualifies for 0% down for qualified buyers! This charming 3-bedroom, 2-bathroom residence is nestled on just under a quarter acre in the sought-after gated community of Indian Harbors. With an open floor plan designed for seamless living, this space is perfect for entertaining family and friends. The generous primary suite features a walk-in closet and a luxurious garden tub, offering both comfort and convenience as it connects seamlessly to the laundry room. Step outside to a spacious backyard adorned with pavers and a fire pit—ideal for cozy evenings and gatherings under the stars. A nearly new shed provides ample storage for gardening tools and outdoor essentials, while a trampoline adds fun for both kids and adults alike. Living in Indian Harbors means enjoying fantastic community amenities, including a marina, boat dock, community pool, playground, and much more—perfect for an active lifestyle. This home is not just a residence; it’s a place to create lasting memories. Don’t miss your chance to make it yours! Schedule your showing today and discover the lifestyle that awaits you in Indian Harbors! If you're interested to find out if you qualify to buy this home with NO DOWN PAYMENT, please call Shawn Malkou - phone number is in the private remarks.

8. 2023-08-01
   soldstatus
9. 2023-07-28
   soldstatus Closed 430-char remark

   Show marketing remark (430 chars)

   Energy Efficient New Texas Legacy Home built in 2022 this 3 bedrooms 2 bathrooms is situated on a large interior lot with mature trees. The home boasts of large open spaces, tons of cabinet space, light gray and tan colors, LED lighting, energy efficient HVAC system, large bedrooms with an desirable open floor plan. Indian harbor offers boat docks, private marina and store, parks, community center with a pool and so much more.

10. 2023-07-21
    status Pending 430-char remark

    Show marketing remark (430 chars)

    Energy Efficient New Texas Legacy Home built in 2022 this 3 bedrooms 2 bathrooms is situated on a large interior lot with mature trees. The home boasts of large open spaces, tons of cabinet space, light gray and tan colors, LED lighting, energy efficient HVAC system, large bedrooms with an desirable open floor plan. Indian harbor offers boat docks, private marina and store, parks, community center with a pool and so much more.

11. 2023-07-17
    soldstatus Closed 430-char remark

    Show marketing remark (430 chars)

    Energy Efficient New Texas Legacy Home built in 2022 this 3 bedrooms 2 bathrooms is situated on a large interior lot with mature trees. The home boasts of large open spaces, tons of cabinet space, light gray and tan colors, LED lighting, energy efficient HVAC system, large bedrooms with an desirable open floor plan. Indian harbor offers boat docks, private marina and store, parks, community center with a pool and so much more.

12. 2023-07-07
    status Pending 430-char remark

    Show marketing remark (430 chars)

    Energy Efficient New Texas Legacy Home built in 2022 this 3 bedrooms 2 bathrooms is situated on a large interior lot with mature trees. The home boasts of large open spaces, tons of cabinet space, light gray and tan colors, LED lighting, energy efficient HVAC system, large bedrooms with an desirable open floor plan. Indian harbor offers boat docks, private marina and store, parks, community center with a pool and so much more.

13. 2023-06-30
    historical Active Option Contract 430-char remark

    Show marketing remark (430 chars)

    Energy Efficient New Texas Legacy Home built in 2022 this 3 bedrooms 2 bathrooms is situated on a large interior lot with mature trees. The home boasts of large open spaces, tons of cabinet space, light gray and tan colors, LED lighting, energy efficient HVAC system, large bedrooms with an desirable open floor plan. Indian harbor offers boat docks, private marina and store, parks, community center with a pool and so much more.

14. 2023-05-15
    listed $184,500 Active 430-char remark

    Show marketing remark (430 chars)

    Energy Efficient New Texas Legacy Home built in 2022 this 3 bedrooms 2 bathrooms is situated on a large interior lot with mature trees. The home boasts of large open spaces, tons of cabinet space, light gray and tan colors, LED lighting, energy efficient HVAC system, large bedrooms with an desirable open floor plan. Indian harbor offers boat docks, private marina and store, parks, community center with a pool and so much more.

15. 2022-09-09
    soldstatus Closed
16. 2022-08-23
    status Pending
17. 2022-08-15
    listed $20,000 Active
18. 1995-09-25
    soldstatus
19. 1994-12-15
    soldstatus
20. 1985-06-26
    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: $2,381 · $198/mo
• Projected year-2 tax: $3,585 · $299/mo
• Expected delta: +$1,204/yr (+$100/mo · 50.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 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: $25,131
• − Mortgage interest: −$10,973
• − Property taxes: −$2,381
• − Insurance: −$980
• − Repairs & maintenance: −$2,010
• − Management: −$2,010
• − HOA: −$396
• − Depreciation: −$5,699
• Taxable income: $681
• Est. tax owed @ 24.0%: −$163
• After-tax cash flow: $3,605/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

+879.5% since first listed

15 events — show timeline

• 2026-02-08 Price Changed $195,900 NTREIS
• 2026-01-29 Listed $199,900 NTREIS
• 2023-08-01 Sold (Public Records) — Public Records
• 2023-07-28 Sold (MLS) — NTREIS
• 2023-07-21 Pending — NTREIS
• 2023-07-17 Sold (MLS) — NTREIS
• 2023-07-07 Pending — NTREIS
• 2023-06-30 Contingent — NTREIS
• 2023-05-15 Listed $184,500 NTREIS
• 2022-09-09 Sold (MLS) — NTREIS
• 2022-08-23 Pending — NTREIS
• 2022-08-15 Listed $20,000 NTREIS
• 1995-09-25 Sold (Public Records) — Public Records
• 1994-12-15 Sold (Public Records) — Public Records
• 1985-06-26 Sold (Public Records) — Public Records

Property tax history

+25.9%/yr

Latest (2025): $2,381 · +0.1% YoY. Source: county tax records.