1326 S Walnut St · Sherman, TX 75090

$120,000

2 bd · 1.0 ba · 1,260 sqft · SingleFamily public records · 49 Days on market

Built 1900

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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 +24.5/30.0
• DSCR +7.9/10.0
• ARV discount +7.5/15.0
• 1% rule +7.1/10.0
• 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

Key facts

• Garage
• Built 1900
• Listed 49 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $247 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $116k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.8% 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) — zoned schools average 97% FRL vs 60% district-wide (37 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-2.7%/yr); 473 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 75% 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 31% 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 $830 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 49 days — a 3% lower offer ($116k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y 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 1900 — 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 $116,400 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 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 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.21% ✓
• Cap rate: 8.76%
• Cash-on-cash: 8.81%
• DSCR: 1.39
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $249,480
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1103 S Montgomery St	0.24mi	3/2.0 (+1)	1,344 (+7%)	0mo	$208,500	$155	68
929 S Montgomery St	0.36mi	3/2.0 (+1)	1,330 (+6%)	3mo	$235,000	$177	62
501 Regiment Rd	0.71mi	3/2.0 (+1)	1,271 (+1%)	4mo	$242,990	$191	53
504 Regiment Rd	0.71mi	3/2.0 (+1)	1,271 (+1%)	5mo	$252,990	$199	53
512 Regiment Rd	0.71mi	3/2.0 (+1)	1,294 (+3%)	3mo	$256,395	$198	51
505 Regiment Rd	0.71mi	3/2.0 (+1)	1,294 (+3%)	5mo	$245,990	$190	49
517 Regiment Rd	0.71mi	2/2.0	1,123 (-11%)	4mo	$236,990	$211	41
418 Regiment Rd	0.71mi	2/2.0	1,123 (-11%)	5mo	$227,990	$203	40
2413 Anson Dr	0.71mi	2/2.0	1,123 (-11%)	5mo	$224,490	$200	40
2401 Anson Dr	0.71mi	2/2.0	1,123 (-11%)	5mo	$222,990	$199	40
1509 S Vaden St	0.69mi	3/2.0 (+1)	1,140 (-10%)	5mo	$179,000	$157	39
509 Regiment Rd	0.71mi	3/2.0 (+1)	1,447 (+15%)	5mo	$259,990	$180	29

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: -6.6%
• Equity multiple: 0.76×
• Total profit: $-7,923
• Equity at exit: $17,892

10-year hold

• IRR: -1.5%
• Equity multiple: 0.91×
• Total profit: $-2,860
• Equity at exit: $10,375

Cash invested: $33,600 (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: 6.9×

Monthly cashflow live

• Estimated rent: $1,454 high
• Mortgage (P&I): −$629
• Tax from tax record: −$223 /mo · $2,674/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$305
• Net cashflow: $247

Break-even live

Break-even rent $1,142

Max offer price $120,000

Occupancy floor 78%

Sensitivity live

Price	-10% $315	-5% $281	+0% $247	+5% $213	+10% $179
Rent	-10% $132	-5% $189	+0% $247	+5% $304	+10% $362
Rate	-1.0pp $307	-0.5pp $277	base $247	+0.5pp $216	+1.0pp $184

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1402 S Montgomery St Sherman, TX	3.0	2.0	1160	$1,399	$1.21	44d	1	0.07mi
208 E Lake Ave Sherman, TX	3.0	2.5	1238	$1,445	$1.17	44d	1	0.30mi
224 E Lake St Sherman, TX	2.0	1.0	889	$1,125	$1.27	44d	1	0.30mi
224 E Lake St Unit 224 Sherman, TX	2.0	1.0	889	$1,125	$1.27	44d	1	0.30mi
1710 S Travis St Sherman, TX	2.0	1.5	1200	$1,200	$1.00	44d	1	0.33mi
1219 S Austin St Unit 1219 Sherman, TX	2.0	2.0	1297	$1,650	$1.27	44d	1	0.36mi
218 W Lake St Sherman, TX	3.0	2.5	1244	$1,495	$1.20	21d	1	0.36mi
1415 S Austin St Sherman, TX	3.0	1.0	1027	$1,180	$1.15	21d	1	0.36mi
417 W Dulin St Unit 417 Sherman, TX	3.0	2.0	1386	$1,850	$1.33	44d	1	0.36mi
419 W Dulin St Unit 419 Sherman, TX	3.0	2.0	1386	$1,850	$1.33	44d	1	0.36mi
1223 S Austin St Unit 1223 Sherman, TX	2.0	2.0	1297	$1,650	$1.27	44d	1	0.37mi
232 W Lake Ave Sherman, TX	3.0	2.5	1244	$1,425	$1.15	45d	1	0.37mi
232 W Lake Ave Sherman, TX	3.0	2.5	1244	$1,395	$1.12	44d	1	0.37mi
600 E Rosedale St Sherman, TX	2.0	1.0	925	$995	$1.08	44d	1	0.38mi
243 W Forest Ave Sherman, TX	3.0	2.5	1244	$1,400	$1.13	44d	1	0.41mi
923 S First St Sherman, TX	2.0	1.0	891	$1,125	$1.26	21d	1	0.51mi
2017 S Branch St Sherman, TX	3.0	2.0	1341	$1,700	$1.27	44d	1	0.56mi
620 S Walnut St Unit 622 Sherman, TX	2.0	1.0	1783	$1,025	$0.57	44d	1	0.58mi
822 S Throckmorton St Sherman, TX	3.0	2.0	1288	$1,350	$1.05	44d	1	0.59mi
1124 S Hazelwood St Sherman, TX	3.0	2.0	1347	$1,650	$1.22	44d	1	0.61mi
304 E King St Sherman, TX	2.0	1.0	876	$1,250	$1.43	44d	1	0.63mi
2306 San Jacinto Way Sherman, TX	3.0	2.0	1680	$1,795	$1.07	21d	1	0.72mi
924 S Lee Ave Sherman, TX	2.0	1.0	1525	$1,250	$0.82	44d	1	0.93mi
902 E Cherry St Sherman, TX	3.0	1.0	1530	$1,400	$0.92	44d	1	0.94mi
1338 McCall St Sherman, TX	3.0	2.0	1248	$1,525	$1.22	44d	1	0.96mi
1429 E Odneal St Sherman, TX	3.0	2.0	1218	$1,700	$1.40	44d	1	1.07mi
817 W Lamar St Sherman, TX	3.0	2.0	1074	$1,495	$1.39	44d	1	1.12mi
1201 E Lamar St Sherman, TX	3.0	2.0	1726	$1,995	$1.16	44d	1	1.19mi
1121 Patricia Dr Sherman, TX	3.0	2.0	1472	$1,450	$0.99	21d	1	1.19mi
908 W Houston St Sherman, TX	2.0	1.0	989	$1,299	$1.31	21d	1	1.20mi
906 W Houston St Sherman, TX	2.0	1.0	989	$1,175	$1.19	44d	1	1.20mi
2700 S Travis St Sherman, TX	1.0–2.0	1.0–2.0	882	$950	$1.08	21d	1	1.22mi
1313 E Lamar St Sherman, TX	2.0	1.0	1308	$1,425	$1.09	21d	1	1.25mi
1014 E Pecan St Sherman, TX	3.0	2.0	1340	$1,900	$1.42	44d	1	1.27mi
103 S Highland Ave Sherman, TX	3.0	3.0	1766	$1,950	$1.10	44d	1	1.28mi
214 N Ricketts St Sherman, TX	3.0	2.0	1211	$1,550	$1.28	44d	1	1.29mi
1610 Linda Dr Sherman, TX	3.0	2.0	1500	$1,714	$1.14	21d	1	1.30mi
1509 Fairway Dr Sherman, TX	3.0	2.0	1510	$1,664	$1.10	21d	1	1.35mi
207 N Highland Ave Sherman, TX	2.0	1.0	1175	$1,300	$1.11	44d	1	1.36mi
620 N Walnut St Sherman, TX	2.0	1.0	1100	$1,050	$0.95	44d	1	1.37mi

Listing history 5 events

1. 2023-04-04
   status Pending
2. 2023-03-07
   status Active
3. 2023-03-01
   historical Active Option Contract
4. 2023-02-09
   listed $120,000 Active
5. 1973-04-30
   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: $2,674 · $223/mo
• Projected year-2 tax: $2,674 · $223/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 21% 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: $17,452
• − Mortgage interest: −$6,722
• − Property taxes: −$2,674
• − Insurance: −$600
• − Repairs & maintenance: −$1,396
• − Management: −$1,396
• − Depreciation: −$3,491
• Taxable income: $1,173
• Est. tax owed @ 24.0%: −$281
• After-tax cash flow: $2,680/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

5 events — show timeline

• 2023-04-04 Pending — NTREIS
• 2023-03-07 Relisted — NTREIS
• 2023-03-01 Contingent — NTREIS
• 2023-02-09 Listed $120,000 NTREIS
• 1973-04-30 Sold (Public Records) — Public Records

Property tax history

+7.3%/yr

Latest (2025): $2,674 · +0.7% YoY. Source: county tax records.