821 E Jones St · Sherman, TX 75090

$125,000

2 bd · 1.0 ba · 1,015 sqft · SingleFamily public records · 138 Days on market

Built 1920 6,752 sqft lot $123/sqft · 22% below area Est $160k · 22% under ↓ 20% 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 +18.0/30.0
• ARV discount +15.0/15.0
• 1% rule +6.2/10.0
• DSCR +5.7/10.0
• 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

Incredible Value: Modern Living + Massive Backyard Workshop! Offered at an unbeatable $130,000, this fully renovated 2-bedroom home at 821 E Jones St is the ultimate find for budget-conscious buyers and savvy investors. It’s rare to find a move-in-ready home at this price, and even rarer to find one with a bonus workshop of this scale.

Key facts

• Move-in-ready home
• Fully renovated home
• 6,752 sq ft lot

Tags

• MASSIVE BACKYARD WORKSHOP
• FULLY RENOVATED HOME
• MOVE-IN-READY HOME

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $109 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).
• Recommended offer: $110k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.3% 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-, schools D-.
• 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.
• Market conditions: Rents soft (-2.7%/yr); 473 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 68% 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).
• This rent runs 30% of the median local income ($56k/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 $864 of loan paydown is wiped out by about $4k 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 138 days — a 12% lower offer ($110k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 5y 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: property tax is 2.8% of price; 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 $110,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 138 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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: 1.12% ✓
• Cap rate: 7.34%
• Cash-on-cash: 3.72%
• DSCR: 1.17
• GRM: 7.4

CMA / ARV

• ARV (median comp): $160,064
• List price: $125,000
• Delta: -21.91%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
802 E Jones St	0.05mi	2/1.0	1,092 (+8%)	0mo	$74,750	$68	85
116 N Willow St	0.16mi	2/2.0	1,088 (+7%)	4mo	$155,000	$142	73
620 S First	0.33mi	2/2.0	1,002 (-1%)	10mo	$186,999	$187	71
1113 E Jones St	0.17mi	3/2.0 (+1)	1,056 (+4%)	9mo	$199,000	$188	69
512 N Lee Ave	0.53mi	2/1.0	988 (-3%)	9mo	$72,500	$73	63
517 S Vaden St	0.24mi	3/2.0 (+1)	1,107 (+9%)	6mo	$213,000	$192	59
1016 S 1st St	0.60mi	2/2.0	946 (-7%)	1mo	$206,000	$218	56
118 N Harrison Ave	0.57mi	3/1.5 (+1)	1,086 (+7%)	0mo	$179,900	$166	54
805 S Hazelwood St	0.39mi	3/2.0 (+1)	1,100 (+8%)	7mo	$165,000	$150	53
1208 E Houston St	0.25mi	2/1.0	1,164 (+15%)	13mo	$155,000	$133	53
412 S Montgomery St	0.47mi	2/2.0	896 (-12%)	4mo	$165,000	$184	51
315 1/2 N Carr Ave	0.72mi	3/2.0 (+1)	1,073 (+6%)	5mo	$174,000	$162	44

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: -14.3%
• Equity multiple: 0.50×
• Total profit: $-17,338
• Equity at exit: $18,638

10-year hold

• IRR: -12.4%
• Equity multiple: 0.38×
• Total profit: $-21,624
• Equity at exit: $10,808

Cash invested: $35,000 (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: 473
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,399 high
• Mortgage (P&I): −$656
• Tax from tax record: −$289 /mo · $3,471/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$294
• Net cashflow: $109

Break-even live

Break-even rent $1,262

Max offer price $125,000

Occupancy floor 87%

Sensitivity live

Price	-10% $179	-5% $144	+0% $109	+5% $73	+10% $38
Rent	-10% $-2	-5% $53	+0% $109	+5% $164	+10% $219
Rate	-1.0pp $172	-0.5pp $140	base $109	+0.5pp $76	+1.0pp $43

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
410 S Vaden St Unit A Sherman, TX	1.0	1.0	700	$850	$1.21	44d	1	0.16mi
1014 E Pecan St Sherman, TX	3.0	2.0	1340	$1,900	$1.42	44d	1	0.26mi
1313 E Lamar St Sherman, TX	2.0	1.0	1308	$1,425	$1.09	22d	1	0.32mi
822 S Throckmorton St Sherman, TX	3.0	2.0	1288	$1,350	$1.05	44d	1	0.44mi
304 E King St Sherman, TX	2.0	1.0	876	$1,250	$1.43	44d	1	0.47mi
108 N Cleveland Ave Sherman, TX	3.0	1.5	1060	$1,200	$1.13	44d	1	0.49mi
923 S First St Sherman, TX	2.0	1.0	891	$1,125	$1.26	22d	1	0.52mi
1429 E Odneal St Sherman, TX	3.0	2.0	1218	$1,700	$1.40	44d	1	0.55mi
1006 S Throckmorton St Sherman, TX	2.0	1.0	705	$1,026	$1.46	44d	1	0.56mi
408 N Cleveland Ave Sherman, TX	2.0	2.5	1132	$1,300	$1.15	44d	1	0.58mi
609 E Carter St Sherman, TX	3.0	2.0	1230	$1,450	$1.18	22d	1	0.61mi
607 E Carter St Unit 609 Sherman, TX	3.0	2.0	1230	$1,450	$1.18	22d	1	0.62mi
608 E College St Unit 608 Sherman, TX	3.0	2.0	1230	$1,325	$1.08	22d	1	0.65mi
1124 S Hazelwood St Sherman, TX	3.0	2.0	1347	$1,650	$1.22	44d	1	0.65mi
614 E College St Sherman, TX	3.0	2.0	1238	$1,400	$1.13	22d	1	0.67mi
615 N Cleveland Ave #617 Sherman, TX	3.0	2.0	1316	$1,600	$1.22	44d	1	0.71mi
916 N Throckmorton St Sherman, TX	3.0	2.0	1259	$1,400	$1.11	22d	1	0.72mi
823 N Branch St Sherman, TX	3.0	2.0	1357	$1,650	$1.22	22d	1	0.72mi
620 N Walnut St Sherman, TX	2.0	1.0	1100	$1,050	$0.95	44d	1	0.73mi
600 E Rosedale St Sherman, TX	2.0	1.0	925	$995	$1.08	44d	1	0.75mi
1338 McCall St Sherman, TX	3.0	2.0	1248	$1,525	$1.22	44d	1	0.76mi
217 N Burdette Ave Sherman, TX	3.0	1.0	1288	$1,400	$1.09	44d	1	0.77mi
706 N Harrison Ave Ste 100 Sherman, TX	3.0	2.5	1350	$1,395	$1.03	22d	1	0.78mi
515 N Colbert Ave Sherman, TX	2.0	1.0	707	$1,250	$1.77	22d	1	0.98mi
422 N Elliott St Sherman, TX	3.0	2.5	1500	$1,650	$1.10	22d	1	1.00mi
1402 S Montgomery St Sherman, TX	3.0	2.0	1160	$1,399	$1.21	44d	1	1.00mi
1121 Patricia Dr Sherman, TX	3.0	2.0	1472	$1,450	$0.99	22d	1	1.01mi
913 N Brents Ave Sherman, TX	3.0	2.5	1419	$1,500	$1.06	44d	1	1.02mi
1110 N Ross Ave Sherman, TX	3.0	2.0	1377	$1,750	$1.27	22d	1	1.04mi
1014 N Brents Ave #1012 Sherman, TX	3.0	2.0	1208	$1,350	$1.12	44d	1	1.04mi
820 N Sam Rayburn Fwy Unit 204 Sherman, TX	2.0	1.5	1027	$1,350	$1.31	44d	1	1.12mi
830 S Lyon St Sherman, TX	2.0	1.0	784	$1,095	$1.40	44d	1	1.12mi
817 W Lamar St Sherman, TX	3.0	2.0	1074	$1,495	$1.39	44d	1	1.14mi
524-526 N Woods St Sherman, TX	3.0	2.0	1454	$1,445	$0.99	44d	1	1.14mi
1312 N Travis St Sherman, TX	3.0	1.5	1086	$1,325	$1.22	44d	1	1.14mi
1219 S Austin St Unit 1219 Sherman, TX	2.0	2.0	1297	$1,650	$1.27	44d	1	1.16mi
1223 S Austin St Unit 1223 Sherman, TX	2.0	2.0	1297	$1,650	$1.27	44d	1	1.16mi
417 W Dulin St Unit 417 Sherman, TX	3.0	2.0	1386	$1,850	$1.33	44d	1	1.18mi
419 W Dulin St Unit 419 Sherman, TX	3.0	2.0	1386	$1,850	$1.33	44d	1	1.18mi
814 W College St Sherman, TX	2.0	2.0	1100	$1,150	$1.05	44d	1	1.21mi

Listing history 44 events

1. 2026-06-19
   days on market $125,000 Active 138 DOM
2. 2026-06-18
   days on market $125,000 Active 137 DOM
3. 2026-06-17
   days on market $125,000 Active 136 DOM
4. 2026-06-16
   days on market $125,000 Active 135 DOM
5. 2026-06-15
   days on market $125,000 Active 134 DOM
6. 2026-06-14
   days on market $125,000 Active 132 DOM
7. 2026-06-13
   days on market $125,000 Active 131 DOM
8. 2026-06-10
   days on market $125,000 Active 129 DOM
9. 2026-06-09
   days on market $125,000 Active 128 DOM
10. 2026-06-08
    days on market $125,000 Active 127 DOM
11. 2026-06-07
    days on market $125,000 Active 126 DOM
12. 2026-06-03
    days on market $125,000 Active 122 DOM
13. 2026-06-02
    days on market $125,000 Active 121 DOM
14. 2026-06-01
    days on market $125,000 Active 120 DOM
15. 2026-05-31
    days on market $125,000 Active 119 DOM
16. 2026-05-30
    days on market $125,000 Active 118 DOM
17. 2026-05-04
    status Active 344-char remark

    Show marketing remark (344 chars)

    Incredible Value: Modern Living + Massive Backyard Workshop! Offered at an unbeatable $130,000, this fully renovated 2-bedroom home at 821 E Jones St is the ultimate find for budget-conscious buyers and savvy investors. It’s rare to find a move-in-ready home at this price, and even rarer to find one with a bonus workshop of this scale.

18. 2026-04-03
    historical Active Option Contract 344-char remark

    Show marketing remark (344 chars)

    Incredible Value: Modern Living + Massive Backyard Workshop! Offered at an unbeatable $130,000, this fully renovated 2-bedroom home at 821 E Jones St is the ultimate find for budget-conscious buyers and savvy investors. It’s rare to find a move-in-ready home at this price, and even rarer to find one with a bonus workshop of this scale.

19. 2026-03-14
    price $125,000 344-char remark

    Show marketing remark (344 chars)

    Incredible Value: Modern Living + Massive Backyard Workshop! Offered at an unbeatable $130,000, this fully renovated 2-bedroom home at 821 E Jones St is the ultimate find for budget-conscious buyers and savvy investors. It’s rare to find a move-in-ready home at this price, and even rarer to find one with a bonus workshop of this scale.

20. 2026-02-01
    listed $130,000 Active 344-char remark

    Show marketing remark (344 chars)

    Incredible Value: Modern Living + Massive Backyard Workshop! Offered at an unbeatable $130,000, this fully renovated 2-bedroom home at 821 E Jones St is the ultimate find for budget-conscious buyers and savvy investors. It’s rare to find a move-in-ready home at this price, and even rarer to find one with a bonus workshop of this scale.

21. 2025-12-17
    historical
22. 2025-10-13
    price $149,500
23. 2025-09-19
    price $157,500
24. 2025-08-17
    price $158,500
25. 2025-07-22
    listed $160,000 Active
26. 2025-05-20
    historical
27. 2025-05-07
    price $169,500
28. 2025-05-07
    status Active
29. 2025-04-03
    status Pending
30. 2025-03-26
    historical Active Option Contract
31. 2025-03-07
    listed $179,500 Active
32. 2023-02-07
    soldstatus
33. 2021-12-14
    soldstatus
34. 2021-12-10
    soldstatus Sold
35. 2021-11-06
    status Pending
36. 2021-11-01
    historical Active Option Contract
37. 2021-10-14
    price $148,900
38. 2021-10-07
    price $149,900
39. 2021-09-23
    price $155,900
40. 2021-09-13
    price $156,899
41. 2021-08-20
    listed $156,900 Active
42. 2007-10-11
    soldstatus
43. 2007-09-14
    soldstatus
44. 1996-09-11
    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: $3,471 · $289/mo
• Projected year-2 tax: $3,471 · $289/mo
• Expected delta: $0/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 19% 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: $16,792
• − Mortgage interest: −$7,002
• − Property taxes: −$3,471
• − Insurance: −$625
• − Repairs & maintenance: −$1,343
• − Management: −$1,343
• − Depreciation: −$3,636
• Taxable loss: −$630
• Est. tax savings @ 24.0%: +$151
• After-tax cash flow: $1,454/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

-20.3% since first listed

28 events — show timeline

• 2026-05-04 Relisted — NTREIS
• 2026-04-03 Contingent — NTREIS
• 2026-03-14 Price Changed $125,000 NTREIS
• 2026-02-01 Listed $130,000 NTREIS
• 2025-12-17 Listing Removed — NTREIS
• 2025-10-13 Price Changed $149,500 NTREIS
• 2025-09-19 Price Changed $157,500 NTREIS
• 2025-08-17 Price Changed $158,500 NTREIS
• 2025-07-22 Listed $160,000 NTREIS
• 2025-05-20 Listing Removed — NTREIS
• 2025-05-07 Price Changed $169,500 NTREIS
• 2025-05-07 Relisted — NTREIS
• 2025-04-03 Pending — NTREIS
• 2025-03-26 Contingent — NTREIS
• 2025-03-07 Listed $179,500 NTREIS
• 2023-02-07 Sold (Public Records) — Public Records
• 2021-12-14 Sold (Public Records) — Public Records
• 2021-12-10 Sold (MLS) — NTREIS
• 2021-11-06 Pending — NTREIS
• 2021-11-01 Contingent — NTREIS
• 2021-10-14 Price Changed $148,900 NTREIS
• 2021-10-07 Price Changed $149,900 NTREIS
• 2021-09-23 Price Changed $155,900 NTREIS
• 2021-09-13 Price Changed $156,899 NTREIS
• 2021-08-20 Listed $156,900 NTREIS
• 2007-10-11 Sold (Public Records) — Public Records
• 2007-09-14 Sold (Public Records) — Public Records
• 1996-09-11 Sold (Public Records) — Public Records

Property tax history

+15.1%/yr

Latest (2025): $3,471 · +2.9% YoY. Source: county tax records.