300 Lighthouse Dr Unit PT86 · Preston, TX 75076

$60,000

2 bd · 1.5 ba · 728 sqft · Manufactured public records · 59 Days on market

Built 1970 $82/sqft · 68% below area $225/mo HOA · 17% of rent

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +3.7/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover your dream retreat in this charming lake house with stunning views in the Lighthouse Resort and Marina community. This home boasts a lake view and a large screened-in porch, ideal for morning coffee or relaxing sunset views. Located in a vibrant golf cart community with easy access to amenities and the acclaimed Pottsboro School District, this property offers a perfect lakeside lifestyle. Don’t miss out!

Key facts

• Golf cart community
• Lake view
• Built 1970

Tags

• LAKE VIEW
• LARGE SCREENED-IN PORCH
• GOLF CART COMMUNITY
• EASY ACCESS TO AMENITIES
• POTTSBORO SCHOOL DISTRICT

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath manufactured listed at $60k.

Deal economics

• At list price, monthly cash flow is $436 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $58k (3.0% below list) — sets the bar for market timing.
• Cap rate 15.0% vs local median 2.9% in Preston — 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 56/100 on livability (#1,306 in TX) — a working-class tenant base; expect higher turnover. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D, schools F, amenities F.
• Pottsboro ISD (suburban): math 39% / reading 48% proficiency, ranked #288 of 826 in TX (top 35%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 292 active listings in the ZIP; solid renter incomes; 2,272 units permitted in Grayson County in 2024 (750 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $415 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Grayson County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($58k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y 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.

Recommended offer $58,200 (3.0% below list)

Questions for the listing agent

1. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-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. 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: 2.15% ✓
• Cap rate: 15.02%
• Cash-on-cash: 31.15%
• DSCR: 2.39
• GRM: 3.9

CMA / ARV

• ARV (median comp): $186,000
• List price: $60,000
• Delta: -67.74%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
59 Air Force Dr	0.18mi	1/1.0 (-1)	720 (-1%)	4mo	$200,000	$278	79

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: 26.1%
• Equity multiple: 2.08×
• Total profit: $18,178
• Equity at exit: $8,946

10-year hold

• IRR: 33.8%
• Equity multiple: 4.10×
• Total profit: $52,094
• Equity at exit: $5,188

Cash invested: $16,800 (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 75076

• Home prices YoY: -17.3%
• Active inventory: 292
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $1,289 medium
• Mortgage (P&I): −$315
• Tax from tax record: −$17 /mo · $206/yr
• Insurance: −$25
• HOA: −$225
• Vacancy / Maint / Mgmt: −$271
• Net cashflow: $436

Break-even live

Break-even rent $737

Max offer price $60,000

Occupancy floor 61%

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $225 · $2,700/yr

Listing history 22 events

1. 2026-06-19
   days on market $60,000 Active 59 DOM
2. 2026-06-18
   days on market $60,000 Active 58 DOM
3. 2026-06-17
   days on market $60,000 Active 57 DOM
4. 2026-06-16
   days on market $60,000 Active 56 DOM
5. 2026-06-15
   days on market $60,000 Active 55 DOM
6. 2026-06-14
   days on market $60,000 Active 53 DOM
7. 2026-06-13
   days on market $60,000 Active 52 DOM
8. 2026-06-10
   days on market $60,000 Active 50 DOM
9. 2026-06-09
   days on market $60,000 Active 49 DOM
10. 2026-06-08
    days on market $60,000 Active 48 DOM
11. 2026-06-07
    days on market $60,000 Active 47 DOM
12. 2026-06-03
    days on market $60,000 Active 43 DOM
13. 2026-06-02
    days on market $60,000 Active 42 DOM
14. 2026-06-01
    days on market $60,000 Active 41 DOM
15. 2026-05-31
    days on market $60,000 Active 40 DOM
16. 2026-05-30
    days on market $60,000 Active 39 DOM
17. 2026-04-21
    listed $60,000 Active 422-char remark

    Show marketing remark (422 chars)

    Discover your dream retreat in this charming lake house with stunning views in the Lighthouse Resort and Marina community. This home boasts a lake view and a large screened-in porch, ideal for morning coffee or relaxing sunset views. Located in a vibrant golf cart community with easy access to amenities and the acclaimed Pottsboro School District, this property offers a perfect lakeside lifestyle. Don’t miss out!

18. 2025-06-27
    historical
19. 2025-01-28
    listed $60,000 Active
20. 2024-12-26
    historical
21. 2024-10-11
    status Active
22. 2024-09-18
    listed $60,000 Active

ⓘ 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: $206 · $17/mo
• Projected year-2 tax: $1,098 · $92/mo
• Expected delta: +$892/yr (+$74/mo · 431.9%)

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

Taxation est. · year 1

• Rental income: $15,463
• − Mortgage interest: −$3,361
• − Property taxes: −$206
• − Insurance: −$300
• − Repairs & maintenance: −$1,237
• − Management: −$1,237
• − HOA: −$2,700
• − Depreciation: −$1,745
• Taxable income: $4,676
• Est. tax owed @ 24.0%: −$1,122
• After-tax cash flow: $4,111/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: Pottsboro ISD
• NCES district ID: 4835580
• Math proficiency: 39% ▼ -11.00%
• Reading proficiency: 48% ▼ -6.00%
• Median HH income: $50,811
• Composite: 37.44/100
• National rank: #4414
• State rank: #288 of 826 in TX

Livability — Preston

• Score: 56/100
• State rank: #1306
• US rank: #22637

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Preston, TX
• County: Grayson County · 108,053 people
• Metro: Sherman-Denison, TX
• Population (ZIP): 7,989
• Household income: $76,919
• Rent vs Own: 18.2% rent · 81.8% own
• Severe rent burden: 169.0

Population outlook (Grayson County) Hauer SSP2

• Today (2025): 134,540 people
• By 2030: 138,653 · +3.1%
• By 2040: 145,958 · +8.5%
• By 2050: 151,218 · +12.4%
• By 2075: 161,802 · +20.3%
• By 2100: 159,036 · +18.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 7% Hispanic / Latino 3% Asian 1% Native American 1%
• Common ancestry: Serbian 2% Scottish 2% Scotch-Irish 2%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 3%

Political lean MEDSL · Grayson

• 2024 margin: Solid R (+54.3) · D 22.5% · R 76.7%
• 2008→2024 swing: -16.4pp toward R · 2008: -37.9pp · 2024: -54.3pp
• All cycles: 2024: R+54.3 2020: R+49.9 2016: R+53.1 2012: R+48.0 2008: R+37.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -51.29%
• Current HPI: 244.52
• Rent YoY: —
• Metro: Sherman-Denison, 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

+0.0% since first listed

6 events — show timeline

• 2026-04-21 Listed $60,000 NTREIS
• 2025-06-27 Listing Removed — NTREIS
• 2025-01-28 Listed $60,000 NTREIS
• 2024-12-26 Listing Removed — NTREIS
• 2024-10-11 Relisted — NTREIS
• 2024-09-18 Listed $60,000 NTREIS

Property tax history

-2.4%/yr

Latest (2025): $206 · +6.7% YoY. Source: county tax records.