2334 Sanbar Rd #81 · Graford, TX 76449

$68,000

2 bd · 2.0 ba · 672 sqft · Manufactured · 114 Days on market

Built 1970 Poor condition 5,924 sqft lot $101/sqft · 20% above area Est $57k · 20% over ↓ 34% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +3.4/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

SELLERS ARE READY TO SEE OFFERS - PRICE REDUCED on this Charming Lake Cabin on Boat Ramp Rd in Golden Cove at Possum Kingdom Lake! Welcome to PK Lake Life at its best! This 2 bedroom 2 bath cabin is full of cozy charm and features beautiful lake views you'll fall in love with. Enjoy a full privacy fenced yard perfect for kids or pets, spacious storage, and covered parking for your vehicles or your boat. Located just about 200 yards from the community boat ramp and dock so you'll have easy access to all the water fun The Cove has to offer. Fully furnished and ready for new owners - just bring your bags and start relaxing! Whether you are looking for a peaceful full-time home or a weekend getaway, this cabin offers the perfect blend of comfort, convenience, and lakeside serenity. Join The Cove Family - where every day feels like a vacation! This is leasehold property, with a two year lease term and monthly lease fees payable to Golden Cove - Oak Wood Properties. Property taxes on the lot are paid by Golden Cove; property taxes on the improvements are paid by the homeowner. Great view - Great location - Get in now before the Sellers decide they want to stay for Summer!

Key facts

• Community boat ramp
• Covered parking
• Lake views

Tags

• LAKE VIEWS
• PRIVACY FENCED YARD
• COMMUNITY BOAT RAMP
• COVERED PARKING
• FULLY FURNISHED

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $68k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $68k).
• Recommended offer: $62k (9.0% below list) — sets the bar for market timing.
• Cap rate 26.7% vs local median 1.3% in Graford — 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 63/100 on livability (#856 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, health & safety D+, schools D-.
• Graford ISD (rural): math 35% / reading 40% proficiency, ranked #817 of 1,141 in TX (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 465 active listings in the ZIP; 27 units permitted in Palo Pinto County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $470 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Palo Pinto County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 114 days — a 9% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y ago; this cycle's ask has dropped $14k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $61,880 (9.0% below list)

Questions for the listing agent

1. It's been on market 114 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. Crime grade is F 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?
8. 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.
9. 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.
10. 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: 3.03% ✓
• Cap rate: 26.74%
• Cash-on-cash: 73.02%
• DSCR: 4.25
• GRM: 2.7

CMA / ARV

• ARV (median comp): $56,605
• List price: $68,000
• Delta: 20.13%
• Verdict: OVERPRICED
• Comps: 5 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2334 Sanbar Rd #41	0.00mi	2/1.5	720 (+7%)	22mo	$69,000	$96	67

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 72.8%
• Equity multiple: 4.30×
• Total profit: $62,804
• Equity at exit: $10,139

10-year hold

• IRR: 76.6%
• Equity multiple: 8.87×
• Total profit: $149,834
• Equity at exit: $5,879

Cash invested: $19,040 (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 76449

• Home prices YoY: -27.7%
• Active inventory: 465
• Price-to-rent: 2.7×

Monthly cashflow live

• Estimated rent: $2,061 medium
• Mortgage (P&I): −$357
• Tax est. 1.5%: −$85 /mo · $1,020/yr
• Insurance: −$28
• HOA: −$0
• Vacancy / Maint / Mgmt: −$433
• Net cashflow: $1,159

Break-even live

Break-even rent $595

Max offer price $68,000

Occupancy floor 39%

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: $17,000
• Closing costs: $2,040
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-19
   days on market $68,000 Active 114 DOM
2. 2026-06-18
   days on market $68,000 Active 113 DOM
3. 2026-06-17
   days on market $68,000 Active 112 DOM
4. 2026-06-16
   days on market $68,000 Active 111 DOM
5. 2026-06-15
   days on market $68,000 Active 110 DOM
6. 2026-06-14
   days on market $68,000 Active 108 DOM
7. 2026-06-12
   pricedays on market $68,000 Active 107 DOM
8. 2026-06-09
   days on market $79,000 Active 104 DOM
9. 2026-06-08
   days on market $79,000 Active 103 DOM
10. 2026-06-07
    days on market $79,000 Active 102 DOM
11. 2026-06-05
    days on market $79,000 Active 100 DOM
12. 2026-06-04
    days on market $79,000 Active 98 DOM
13. 2026-06-02
    days on market $79,000 Active 97 DOM
14. 2026-06-01
    days on market $79,000 Active 96 DOM
15. 2026-05-31
    days on market $79,000 Active 95 DOM
16. 2026-05-31
    days on market $79,000 Active 94 DOM
17. 2026-04-14
    price $79,000 1193-char remark

    Show marketing remark (1193 chars)

    SELLERS ARE READY TO SEE OFFERS - PRICE REDUCED on this Charming Lake Cabin on Boat Ramp Rd in Golden Cove at Possum Kingdom Lake! Welcome to PK Lake Life at its best! This 2 bedroom 2 bath cabin is full of cozy charm and features beautiful lake views you'll fall in love with. Enjoy a full privacy fenced yard perfect for kids or pets, spacious storage, and covered parking for your vehicles or your boat. Located just about 200 yards from the community boat ramp and dock so you'll have easy access to all the water fun The Cove has to offer. Fully furnished and ready for new owners - just bring your bags and start relaxing! Whether you are looking for a peaceful full-time home or a weekend getaway, this cabin offers the perfect blend of comfort, convenience, and lakeside serenity. Join The Cove Family - where every day feels like a vacation! This is leasehold property, with a two year lease term and monthly lease fees payable to Golden Cove - Oak Wood Properties. Property taxes on the lot are paid by Golden Cove; property taxes on the improvements are paid by the homeowner. Great view - Great location - Get in now before the Sellers decide they want to stay for Summer!

18. 2026-02-25
    listed $82,000 Active 1193-char remark

    Show marketing remark (1193 chars)

    SELLERS ARE READY TO SEE OFFERS - PRICE REDUCED on this Charming Lake Cabin on Boat Ramp Rd in Golden Cove at Possum Kingdom Lake! Welcome to PK Lake Life at its best! This 2 bedroom 2 bath cabin is full of cozy charm and features beautiful lake views you'll fall in love with. Enjoy a full privacy fenced yard perfect for kids or pets, spacious storage, and covered parking for your vehicles or your boat. Located just about 200 yards from the community boat ramp and dock so you'll have easy access to all the water fun The Cove has to offer. Fully furnished and ready for new owners - just bring your bags and start relaxing! Whether you are looking for a peaceful full-time home or a weekend getaway, this cabin offers the perfect blend of comfort, convenience, and lakeside serenity. Join The Cove Family - where every day feels like a vacation! This is leasehold property, with a two year lease term and monthly lease fees payable to Golden Cove - Oak Wood Properties. Property taxes on the lot are paid by Golden Cove; property taxes on the improvements are paid by the homeowner. Great view - Great location - Get in now before the Sellers decide they want to stay for Summer!

19. 2024-05-09
    soldstatus Closed 709-char remark

    Show marketing remark (709 chars)

    Welcome to this renovated home with a double lake view from the front and the back, with a new metal roof over trailer, workshop, and carport, and new larger deck with new metal roof. Home also has new wood fascia trim boards, 6 new energy efficient windows, new front door, and fresh interior and exterior paint. New flooring in two bathrooms, kitchen, living room and bedroom. New commode in north bathroom. New kitchen cabinet handles. Leasehold land, and needs no survey or title policy. Washer and dryer are in storage shed, but will convey. Golden Cove is surrounded by 16 miles of hiking trails, 15-20 minutes by boat to the famous Hells Gate, and fishing guides available onsite and near the area.

20. 2024-05-06
    status Pending 709-char remark

    Show marketing remark (709 chars)

    Welcome to this renovated home with a double lake view from the front and the back, with a new metal roof over trailer, workshop, and carport, and new larger deck with new metal roof. Home also has new wood fascia trim boards, 6 new energy efficient windows, new front door, and fresh interior and exterior paint. New flooring in two bathrooms, kitchen, living room and bedroom. New commode in north bathroom. New kitchen cabinet handles. Leasehold land, and needs no survey or title policy. Washer and dryer are in storage shed, but will convey. Golden Cove is surrounded by 16 miles of hiking trails, 15-20 minutes by boat to the famous Hells Gate, and fishing guides available onsite and near the area.

21. 2024-04-30
    historical Active Option Contract 709-char remark

    Show marketing remark (709 chars)

    Welcome to this renovated home with a double lake view from the front and the back, with a new metal roof over trailer, workshop, and carport, and new larger deck with new metal roof. Home also has new wood fascia trim boards, 6 new energy efficient windows, new front door, and fresh interior and exterior paint. New flooring in two bathrooms, kitchen, living room and bedroom. New commode in north bathroom. New kitchen cabinet handles. Leasehold land, and needs no survey or title policy. Washer and dryer are in storage shed, but will convey. Golden Cove is surrounded by 16 miles of hiking trails, 15-20 minutes by boat to the famous Hells Gate, and fishing guides available onsite and near the area.

22. 2024-03-12
    listed $69,999 Active 709-char remark

    Show marketing remark (709 chars)

    Welcome to this renovated home with a double lake view from the front and the back, with a new metal roof over trailer, workshop, and carport, and new larger deck with new metal roof. Home also has new wood fascia trim boards, 6 new energy efficient windows, new front door, and fresh interior and exterior paint. New flooring in two bathrooms, kitchen, living room and bedroom. New commode in north bathroom. New kitchen cabinet handles. Leasehold land, and needs no survey or title policy. Washer and dryer are in storage shed, but will convey. Golden Cove is surrounded by 16 miles of hiking trails, 15-20 minutes by boat to the famous Hells Gate, and fishing guides available onsite and near the area.

23. 2023-12-31
    historical
24. 2023-11-26
    price $89,000
25. 2023-06-30
    price $105,000
26. 2023-05-31
    price $115,000
27. 2023-04-20
    listed $120,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $24,737
• − Mortgage interest: −$3,809
• − Property taxes: −$1,020
• − Insurance: −$340
• − Repairs & maintenance: −$1,979
• − Management: −$1,979
• − Depreciation: −$1,978
• Taxable income: $13,632
• Est. tax owed @ 24.0%: −$3,272
• After-tax cash flow: $10,632/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.

Condition & rehab AI · 1 photo

Poor 20/100 Extensive rehab

This manufactured home requires extensive repairs and updates to its exterior, interior, and HVAC systems, significantly impacting its value. Immediate action is needed to address these issues before resale or rental.

Repairs flagged

• Major exterior siding — Siding appears damaged and needs replacement
• Major roof — No photos of roof, but given exterior condition, likely damaged
• Major interior walls/paint — No photos of interior, but given exterior condition, likely in poor condition
• Major HVAC/mechanicals — No photos of HVAC, but given exterior condition, likely in poor condition
• Major landscaping — No photos of landscaping, but given exterior condition, likely in poor condition

Value-add opportunities

• Both exterior siding replacement — Improves curb appeal and structural integrity
• Both roof repair/replacement — Essential for structural integrity and water resistance
• Both interior painting — Enhances interior aesthetics and value
• Both HVAC system replacement — Improves comfort and energy efficiency
• Both landscaping and curb appeal — Enhances overall property appearance

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Siding appears damaged and needs replacement	Major	$15,000–50,000
roof · No photos of roof, but given exterior condition, likely damaged	Major	$15,000–50,000
interior walls/paint · No photos of interior, but given exterior condition, likely in poor condition	Major	$15,000–50,000
HVAC/mechanicals · No photos of HVAC, but given exterior condition, likely in poor condition	Major	$15,000–50,000
landscaping · No photos of landscaping, but given exterior condition, likely in poor condition	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Both exterior siding replacement — Improves curb appeal and structural integrity ↑
• Both roof repair/replacement — Essential for structural integrity and water resistance ↑
• Both interior painting — Enhances interior aesthetics and value ↑
• Both HVAC system replacement — Improves comfort and energy efficiency ↑
• Both landscaping and curb appeal — Enhances overall property appearance ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Graford ISD
• NCES district ID: 4821330
• Math proficiency: 35% ▬ 0.00%
• Reading proficiency: 40% ▲ 10.00%
• Median HH income: $43,275
• Composite: 34.3/100
• National rank: #10225
• State rank: #817 of 1141 in TX

Livability — Graford

• Score: 63/100
• State rank: #856
• US rank: #15394

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 2,157

Population outlook (Palo Pinto County) Hauer SSP2

• Today (2025): 27,500 people
• By 2030: 27,079 · -1.5%
• By 2040: 26,135 · -5.0%
• By 2050: 25,215 · -8.3%
• By 2075: 23,416 · -14.9%
• By 2100: 20,300 · -26.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 7% Two or more races 4%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Portuguese 1% Italian 1% Serbian 1%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 4%

Political lean MEDSL · Palo Pinto

• 2024 margin: Solid R (+67.1) · D 16.1% · R 83.2%
• 2008→2024 swing: -18.9pp toward R · 2008: -48.2pp · 2024: -67.1pp
• All cycles: 2024: R+67.1 2020: R+64.1 2016: R+64.1 2012: R+59.8 2008: R+48.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -92.53%
• Current HPI: 241.6435
• Rent YoY: —
• Metro: —
• 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

-34.2% since first listed

11 events — show timeline

• 2026-04-14 Price Changed $79,000 NTREIS
• 2026-02-25 Listed $82,000 NTREIS
• 2024-05-09 Sold (MLS) — NTREIS
• 2024-05-06 Pending — NTREIS
• 2024-04-30 Contingent — NTREIS
• 2024-03-12 Listed $69,999 NTREIS
• 2023-12-31 Listing Removed — NTREIS
• 2023-11-26 Price Changed $89,000 NTREIS
• 2023-06-30 Price Changed $105,000 NTREIS
• 2023-05-31 Price Changed $115,000 NTREIS
• 2023-04-20 Listed $120,000 NTREIS