808 S Austin St · Sherman, TX 75090

$239,810

4 bd · 3.0 ba · 2,615 sqft · SingleFamily public records · 135 Days on market

Built 1920 0.98 ac lot $92/sqft · 11% below area Est $270k · 11% under ↓ 11% since listing

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Why this score? — see what drove the D 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 +12.5/30.0
• ARV discount +12.5/15.0
• 1% rule +3.9/10.0
• DSCR +3.7/10.0
• Livability +3.1/5.0
• Schools +2.9/10.0
• Condition / age +2.5/5.0
• Rent growth +1.8/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

REDUCED PRICE - Almost 1 ACRE - Exceptional opportunity in a prime Sherman location near major Planned Developments. Situated on nearly one acre and within walking distance to historic downtown Sherman, this property offers a rare blend of location, land, and income potential. This home features three separate living areas, two bedrooms upstairs, and a spacious primary bedroom on the main level, creating flexible income producing opportunities for future reconfiguration. Income producing interior and take advantage of income producing with the large lot. The expansive lot provides ample room for creative use such as building TINY HOMES on this lot which is also able to be zoned Commercial if you would like to generate additional income. Imagine expanding the detached garage into a parking lot for your customers. Generate a PadSplit with 3 living areas and 3 bedrooms and I can show you how. Setup corporate housing for medical, student residence, or manufacturing with GlobiTech, Texas Instruments, Emerson, or other manufacturing companies. Additional highlights include solar panels, new HVAC system, multiple storm or tornado shelters. Advertise on the Billboard just at your backyard. Choctaw Casino is just 27 miles north on Hwy 75. The land itself is worth so much much more. Opportunities like this close to downtown with nearly an acre are increasingly rare. Schedule a showing to fully appreciate the possibilities. Request 24hr advance notice for showings.

Key facts

• Large lot
• Solar panels
• Zoned commercial

Tags

• PRIME SHERMAN LOCATION
• INCOME PRODUCING INTERIOR
• LARGE LOT
• ZONED COMMERCIAL
• DETACHED GARAGE
• SOLAR PANELS

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $240k.

Deal economics

• At list price, monthly cash flow is $-36 ($-435/yr) — negative.
• To cash-flow at today's rent, offer at most $233k (2.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $214k (11.0% below list).
• Recommended offer: $211k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.1% vs local median 3.7% in Sherman — 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 61/100 on livability (#1,027 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, employment C-, amenities F.
• Sherman ISD (urban): math 31% / reading 37% proficiency, ranked #546 of 826 in TX (top 66%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Washington El (math 37% / reading 32%, grade F, #1,995 of 4,322 statewide, top 50%, 496 students, 97% FRL); Piner Middle (math 31% / reading 41%, grade F, #805 of 1,662 statewide, top 50%, 818 students, 75% FRL); Sherman H S (math 28% / reading 44%, grade F, #930 of 1,632 statewide, top 57%, 2,155 students, 70% FRL) — zoned schools average 80% FRL vs 60% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-2.7%/yr); 479 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 80% of comp listings sitting > 30 days — soft ceiling on asking rent; 2,272 units permitted in Grayson County in 2024 (750 in 5+ unit buildings).
• At $2,135/mo this rent would consume 46% of the median local household income ($56k/yr) (locally 840% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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.
• Grayson County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 135 days — a 12% lower offer ($211k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 11y 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

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $211,032 (12.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 135 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1920 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.89% ✗
• Cap rate: 6.11%
• Cash-on-cash: -0.65%
• DSCR: 0.97
• GRM: 9.4

CMA / ARV

• ARV (median comp): $270,054
• List price: $239,810
• Delta: -11.20%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
703 S Montgomery St	0.48mi	5/3.5 (+1)	2,844 (+9%)	8mo	$299,900	$105	49

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -20.9%
• Equity multiple: 0.29×
• Total profit: $-47,353
• Equity at exit: $35,756

10-year hold

• IRR: -23.6%
• Equity multiple: -0.01×
• Total profit: $-68,094
• Equity at exit: $20,734

Cash invested: $67,147 (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 75090

• Home prices YoY: -20.0%
• Rents YoY: -2.7%
• Active inventory: 479
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $2,135 high
• Mortgage (P&I): −$1,258
• Tax from tax record: −$366 /mo · $4,387/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$448
• Net cashflow: $-36

Break-even live

Break-even rent $2,181

Max offer price $233,408

Occupancy floor 97%

Sensitivity live

Price	-10% $100	-5% $32	+0% $-36	+5% $-104	+10% $-172
Rent	-10% $-205	-5% $-121	+0% $-36	+5% $48	+10% $132
Rate	-1.0pp $85	-0.5pp $25	base $-36	+0.5pp $-98	+1.0pp $-162

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: $59,952
• Closing costs: $7,194
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
120 S Crockett St Sherman, TX	3.0	2.0	3000	$2,000	$0.67	45d	1	0.52mi
120 S Crockett St Unit 201 Sherman, TX	3.0	1.5	3000	$2,000	$0.67	45d	1	0.52mi
103 S Highland Ave Sherman, TX	3.0	3.0	1766	$1,950	$1.10	45d	1	0.70mi
514 E Brockett St Unit 514 Sherman, TX	4.0	4.5	1800	$1,800	$1.00	45d	1	1.11mi
2203 Rannoch St Sherman, TX	4.0	3.0	2059	$2,275	$1.10	45d	1	1.36mi
2215 Gustavus Dr Sherman, TX	4.0	3.0	2059	$2,250	$1.09	23d	1	1.36mi
1714 Crescent Dr Sherman, TX	4.0	2.5	2190	$2,000	$0.91	46d	1	1.41mi
530 Castle Rd Sherman, TX	4.0	3.0	2059	$2,600	$1.26	45d	1	1.41mi
2231 Rannoch St Sherman, TX	4.0	3.0	2059	$2,300	$1.12	23d	1	1.42mi
404 Castle Rd Sherman, TX	4.0	3.0	2059	$2,300	$1.12	45d	1	1.43mi

Listing history 36 events

1. 2026-06-21
   days on market $239,810 Active 135 DOM
2. 2026-06-19
   days on market $239,810 Active 133 DOM
3. 2026-06-18
   days on market $239,810 Active 132 DOM
4. 2026-06-17
   days on market $239,810 Active 131 DOM
5. 2026-06-16
   days on market $239,810 Active 130 DOM
6. 2026-06-15
   days on market $239,810 Active 129 DOM
7. 2026-06-14
   days on market $239,810 Active 127 DOM
8. 2026-06-13
   days on market $239,810 Active 126 DOM
9. 2026-06-10
   days on market $239,810 Active 124 DOM
10. 2026-06-09
    days on market $239,810 Active 123 DOM
11. 2026-06-08
    days on market $239,810 Active 122 DOM
12. 2026-06-07
    days on market $239,810 Active 121 DOM
13. 2026-06-03
    days on market $239,810 Active 117 DOM
14. 2026-06-02
    days on market $239,810 Active 116 DOM
15. 2026-06-01
    days on market $239,810 Active 115 DOM
16. 2026-05-31
    days on market $239,810 Active 114 DOM
17. 2026-05-30
    days on market $239,810 Active 113 DOM
18. 2026-04-07
    price $239,810 1480-char remark

    Show marketing remark (1480 chars)

    REDUCED PRICE - Almost 1 ACRE - Exceptional opportunity in a prime Sherman location near major Planned Developments. Situated on nearly one acre and within walking distance to historic downtown Sherman, this property offers a rare blend of location, land, and income potential. This home features three separate living areas, two bedrooms upstairs, and a spacious primary bedroom on the main level, creating flexible income producing opportunities for future reconfiguration. Income producing interior and take advantage of income producing with the large lot. The expansive lot provides ample room for creative use such as building TINY HOMES on this lot which is also able to be zoned Commercial if you would like to generate additional income. Imagine expanding the detached garage into a parking lot for your customers. Generate a PadSplit with 3 living areas and 3 bedrooms and I can show you how. Setup corporate housing for medical, student residence, or manufacturing with GlobiTech, Texas Instruments, Emerson, or other manufacturing companies. Additional highlights include solar panels, new HVAC system, multiple storm or tornado shelters. Advertise on the Billboard just at your backyard. Choctaw Casino is just 27 miles north on Hwy 75. The land itself is worth so much much more. Opportunities like this close to downtown with nearly an acre are increasingly rare. Schedule a showing to fully appreciate the possibilities. Request 24hr advance notice for showings.

19. 2026-02-06
    listed $245,810 Active 1480-char remark

    Show marketing remark (1480 chars)

    REDUCED PRICE - Almost 1 ACRE - Exceptional opportunity in a prime Sherman location near major Planned Developments. Situated on nearly one acre and within walking distance to historic downtown Sherman, this property offers a rare blend of location, land, and income potential. This home features three separate living areas, two bedrooms upstairs, and a spacious primary bedroom on the main level, creating flexible income producing opportunities for future reconfiguration. Income producing interior and take advantage of income producing with the large lot. The expansive lot provides ample room for creative use such as building TINY HOMES on this lot which is also able to be zoned Commercial if you would like to generate additional income. Imagine expanding the detached garage into a parking lot for your customers. Generate a PadSplit with 3 living areas and 3 bedrooms and I can show you how. Setup corporate housing for medical, student residence, or manufacturing with GlobiTech, Texas Instruments, Emerson, or other manufacturing companies. Additional highlights include solar panels, new HVAC system, multiple storm or tornado shelters. Advertise on the Billboard just at your backyard. Choctaw Casino is just 27 miles north on Hwy 75. The land itself is worth so much much more. Opportunities like this close to downtown with nearly an acre are increasingly rare. Schedule a showing to fully appreciate the possibilities. Request 24hr advance notice for showings.

20. 2025-06-12
    historical
21. 2024-11-24
    listed $800,000 Active
22. 2016-09-06
    soldstatus
23. 2016-07-08
    soldstatus Sold
24. 2016-06-23
    status Pending
25. 2016-06-13
    price $129,900
26. 2016-05-31
    listed $139,900 Active
27. 2016-05-11
    soldstatus Sold
28. 2016-04-27
    soldstatus
29. 2016-03-23
    status Pending
30. 2016-03-15
    listed $88,000 Active
31. 2016-02-10
    historical
32. 2016-01-18
    listed $210,000 Active
33. 2016-01-09
    historical
34. 2015-09-03
    price $210,000
35. 2015-07-31
    price $250,000
36. 2015-07-08
    listed $270,000 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: $4,387 · $366/mo
• Projected year-2 tax: $4,389 · $366/mo
• Expected delta: +$1/yr ($0/mo · 0.0%)

ⓘ 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 6/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥108°F today · 22 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 20% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,623
• − Mortgage interest: −$13,433
• − Property taxes: −$4,387
• − Insurance: −$1,199
• − Repairs & maintenance: −$2,050
• − Management: −$2,050
• − Depreciation: −$6,976
• Taxable loss: −$4,472
• Est. tax savings @ 24.0%: +$1,073
• After-tax cash flow: $638/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: Sherman ISD
• NCES district ID: 4840080
• Math proficiency: 31% ▼ -9.00%
• Reading proficiency: 37% ▼ -2.00%
• Median HH income: $42,587
• Composite: 28.79/100
• National rank: #6665
• State rank: #546 of 826 in TX

Livability — Sherman

• Score: 61/100
• State rank: #1027
• US rank: #18243

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sherman, TX
• County: Grayson County · 108,053 people
• City population: 54,936
• Metro: Sherman-Denison, TX
• Population (ZIP): 26,594
• Household income: $55,543
• Rent vs Own: 42.8% rent · 57.2% own
• Severe rent burden: 840.0

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: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: White 49% Hispanic / Latino 32% Two or more races 17% Black 11%
• Hispanic origin (detail): Mexican 26%
• Common ancestry: Slovak 2% Romanian 2% Lithuanian 1%
• Foreign-born: 15% · Canada
• Languages at home: 73% English-only · Spanish 24% German/W. Germanic 1% Other Indo-European 1%

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: ▼ -69.00%
• Current HPI: 276.5739
• Rent YoY: ▼ -2.70%
• 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

-11.2% since first listed

19 events — show timeline

• 2026-04-07 Price Changed $239,810 NTREIS
• 2026-02-06 Listed $245,810 NTREIS
• 2025-06-12 Listing Removed — NTREIS
• 2024-11-24 Listed $800,000 NTREIS
• 2016-09-06 Sold (Public Records) — Public Records
• 2016-07-08 Sold (MLS) — NTREIS
• 2016-06-23 Pending — NTREIS
• 2016-06-13 Price Changed $129,900 NTREIS
• 2016-05-31 Listed $139,900 NTREIS
• 2016-05-11 Sold (MLS) — NTREIS
• 2016-04-27 Sold (Public Records) — Public Records
• 2016-03-23 Pending — NTREIS
• 2016-03-15 Listed $88,000 NTREIS
• 2016-02-10 Listing Removed — NTREIS
• 2016-01-18 Listed $210,000 NTREIS
• 2016-01-09 Listing Removed — NTREIS
• 2015-09-03 Price Changed $210,000 NTREIS
• 2015-07-31 Price Changed $250,000 NTREIS
• 2015-07-08 Listed $270,000 NTREIS

Property tax history

+6.0%/yr

Latest (2025): $4,387 · +10.0% YoY. Source: county tax records.