906 E Houston St · Sherman, TX 75092

$140,000

2 bd · 1.0 ba · 989 sqft · SingleFamily · 9 Days on market

Built 1930 Good condition 7,492 sqft lot Garage $142/sqft · 9% below area Est $155k · 9% under

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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).

• ARV discount +11.7/15.0
• Cash flow +11.1/30.0
• Condition / age +3.8/5.0
• 1% rule +3.2/10.0
• DSCR +3.2/10.0
• Livability +3.1/5.0
• Schools +3.0/10.0
• Rent growth +1.9/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this fully renovated 2-Bedroom Home in the heart of booming Sherman! Perfect for first-time homebuyers, down-sizers, or investors, this beautifully updated 2-bedroom, 1-bath home offers stylish finishes and low-maintenance living. Inside, you’ll find a bright and inviting layout featuring luxury vinyl plank flooring throughout - NO CARPET, with updated finishes and fixtures. The remodeled kitchen shines with granite countertops, stainless steel appliances, and generous cabinet space—ideal for everyday living and entertaining. Both bedrooms are well-sized, offering flexibility for your lifestyle.

Key facts

• Fully renovated
• Updated finishes
• Remodeled kitchen

Tags

• FULLY RENOVATED
• UPDATED FINISHES
• REMODELED KITCHEN
• GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• GENEROUS CABINET SPACE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $140k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-56 ($-676/yr) — negative.
• To cash-flow at today's rent, offer at most $132k (5.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $115k (17.6% below list).
• Recommended offer: $115k (17.6% below list) — sets the bar for 1% rule.
• Cap rate 5.8% vs local median 3.8% 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: Crutchfield El (math 27% / reading 22%, grade F, #3,052 of 4,322 statewide, top 74%, 408 students, 89% 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 78% FRL vs 60% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-2.4%/yr); 764 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals lingering (median 93d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $968 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

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 9 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 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $115,338 (17.6% 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. Built in 1930 — 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. 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?
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: 0.82% ✗
• Cap rate: 5.81%
• Cash-on-cash: -1.72%
• DSCR: 0.92
• GRM: 10.1

CMA / ARV

• ARV (median comp): $154,528
• List price: $140,000
• Delta: -12.64%
• 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
419 S Willow St	0.23mi	2/1.0	1,036 (+5%)	1mo	$145,000	$140	80
802 E Jones St	0.14mi	2/1.0	1,092 (+10%)	2mo	$74,750	$68	74
116 N Willow St	0.08mi	2/2.0	1,088 (+10%)	6mo	$155,000	$142	71
816 N Throckmorton St	0.56mi	3/1.5 (+1)	1,010 (+2%)	1mo	$124,500	$123	63
1431 E Wells Ave	0.53mi	2/1.0	886 (-10%)	1mo	$125,000	$141	57
1008 S First St	0.68mi	2/2.0	946 (-4%)	1mo	$199,000	$210	56
1016 S 1st St	0.70mi	2/2.0	946 (-4%)	3mo	$206,000	$218	54
118 N Harrison Ave	0.51mi	3/1.5 (+1)	1,086 (+10%)	2mo	$179,900	$166	51
412 S Montgomery St	0.54mi	2/2.0	896 (-9%)	6mo	$165,000	$184	51
517 S Vaden St	0.31mi	3/2.0 (+1)	1,107 (+12%)	8mo	$213,000	$192	50
805 S Hazelwood St	0.48mi	3/2.0 (+1)	1,100 (+11%)	9mo	$165,000	$150	43
315 1/2 N Carr Ave	0.65mi	3/2.0 (+1)	1,073 (+8%)	6mo	$174,000	$162	41

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: -22.6%
• Equity multiple: 0.24×
• Total profit: $-29,637
• Equity at exit: $20,874

10-year hold

• IRR: -27.0%
• Equity multiple: -0.11×
• Total profit: $-43,420
• Equity at exit: $12,105

Cash invested: $39,200 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 25 active · 14 under contract
• Months of supply: 8.8 mo (11%/mo absorbed)
• Median asking: $174,000 ($174/sqft)
• Median days on market: 97 d
• This list price: 20% of active listings are priced below it
• ARV vs active asking: -10.3% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 75092

• Rents YoY: -2.4%
• Active inventory: 764
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $1,153 high
• Mortgage (P&I): −$734
• Tax est. 1.5%: −$175 /mo · $2,100/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$242
• Net cashflow: $-56

Break-even live

Break-even rent $1,225

Max offer price $131,848

Occupancy floor 100%

Sensitivity live

Price	-10% $40	-5% $-8	+0% $-56	+5% $-105	+10% $-153
Rent	-10% $-147	-5% $-102	+0% $-56	+5% $-11	+10% $35
Rate	-1.0pp $14	-0.5pp $-21	base $-56	+0.5pp $-93	+1.0pp $-130

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: $35,000
• Closing costs: $4,200
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 24 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	93d	1	0.20mi
108 N Cleveland Ave Sherman, TX	3.0	1.5	1060	$1,200	$1.13	93d	1	0.46mi
304 E King St Sherman, TX	2.0	1.0	876	$1,250	$1.43	93d	1	0.52mi
923 S First St Sherman, TX	2.0	1.0	891	$1,125	$1.26	70d	1	0.58mi
1006 S Throckmorton St Sherman, TX	2.0	1.0	705	$1,026	$1.46	93d	1	0.63mi
620 N Walnut St Sherman, TX	2.0	1.0	1100	$1,050	$0.95	93d	1	0.70mi
600 E Rosedale St Sherman, TX	2.0	1.0	925	$995	$1.08	93d	1	0.82mi
816 S Crockett St #3 Sherman, TX	1.0	1.0	600	$675	$1.12	93d	1	0.87mi
515 N Colbert Ave Sherman, TX	2.0	1.0	707	$1,250	$1.77	70d	1	0.93mi
820 N Sam Rayburn Fwy Unit 204 Sherman, TX	2.0	1.5	1027	$1,350	$1.31	93d	1	1.09mi
1312 N Travis St Sherman, TX	3.0	1.5	1086	$1,325	$1.22	93d	1	1.10mi
704 Frisco Rd Sherman, TX	2.0	1.0	682	$795	$1.17	93d	1	1.11mi
817 W Lamar St Sherman, TX	3.0	2.0	1074	$1,495	$1.39	93d	1	1.16mi
830 S Lyon St Sherman, TX	2.0	1.0	784	$1,095	$1.40	93d	1	1.16mi
814 W College St Sherman, TX	2.0	2.0	1100	$1,150	$1.05	93d	1	1.19mi
906 W Houston St Sherman, TX	2.0	1.0	989	$1,175	$1.19	93d	1	1.22mi
908 W Houston St Sherman, TX	2.0	1.0	989	$1,299	$1.31	70d	1	1.23mi
907 W Birge St Sherman, TX	2.0	2.0	952	$1,100	$1.16	93d	1	1.29mi
224 E Lake St Sherman, TX	2.0	1.0	889	$1,125	$1.27	93d	1	1.32mi
224 E Lake St Unit 224 Sherman, TX	2.0	1.0	889	$1,125	$1.27	93d	1	1.32mi
1415 S Austin St Sherman, TX	3.0	1.0	1027	$1,180	$1.15	70d	1	1.33mi
1434 S Rusk St Unit A Sherman, TX	2.0	1.0	800	$1,200	$1.50	93d	1	1.35mi
1434 S Rusk St Unit B Sherman, TX	1.0	1.0	800	$1,000	$1.25	93d	1	1.35mi
1615 N Alexander St Sherman, TX	2.0	1.0	826	$950	$1.15	70d	1	1.44mi

Property features AI

Finance

• Financial info: Listing accepts Cash, Conventional, FHA, VA Loan, and 1031 Exchange
• HOA & community: No homeowners association

Exterior

• Parking: Covered parking (1 covered space)Garage (1-car)Off-street parkingOn-street parkingCarport not provided
• Security: Smoke detector(s)
• Utilities: City waterCity sewerAppliance energy efficiency features
• Home design: Single-family residenceOne storyResidential property
• Construction: Built in 1930Siding and other exterior materialsComposition roofPreowned
• Exterior features: Covered porch(es)Private yardLandscaped yardBack yard fencingChain link fenceFenced

Interior

• Kitchen: DishwasherDisposalElectric cooktopElectric ovenElectric rangeMicrowaveBuilt-in cabinetsGranite counters
• Bedrooms: 2 bedrooms (both on the main level)
• Flooring: Luxury vinyl plank
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric)Central air (electric)Ceiling fan(s)
• Interior features: Built-in featuresCable TV availableDecorative lightingGranite countersHigh-speed internet availableWindow coverings6 rooms totalOne-level layout1 living area1 dining area
• Laundry & utility: Full-size washer/dryer area

Listing history 40 events

1. 2026-08-08
   days on market $140,000 Active 9 DOM
2. 2026-08-07
   days on market $140,000 Active 8 DOM
3. 2026-08-06
   days on market $140,000 Active 7 DOM
4. 2026-08-05
   days on market $140,000 Active 6 DOM
5. 2026-08-04
   days on market $140,000 Active 5 DOM
6. 2026-08-03
   days on market $140,000 Active 4 DOM
7. 2026-07-30
   pricestatusdays on marketlisting id $140,000 Active 1 DOM
8. 2026-05-18
   historical
9. 2026-04-23
   historical $1,175
10. 2026-04-15
    price $135,000
11. 2026-04-10
    price $140,000
12. 2026-03-20
    price $145,000
13. 2026-03-13
    price $1,175
14. 2026-02-24
    listed $1,199
15. 2026-02-20
    listed $150,000 Active
16. 2025-10-02
    historical
17. 2025-09-26
    price $140,000
18. 2025-09-09
    price $142,500
19. 2025-08-21
    price $145,000
20. 2025-08-07
    price $147,500
21. 2025-07-16
    historical $1,225
22. 2025-07-12
    price $1,225
23. 2025-07-10
    price $150,000
24. 2025-07-01
    price $1,250
25. 2025-06-30
    price $152,500
26. 2025-06-19
    price $1,275
27. 2025-06-19
    listed $155,000 Active
28. 2025-06-04
    price $1,299
29. 2025-05-17
    price $1,325
30. 2025-05-14
    price $1,350
31. 2025-04-22
    listed $1,375
32. 2025-03-22
    historical $1,300
33. 2025-02-27
    price $1,300
34. 2025-02-22
    price $1,325
35. 2025-02-05
    listed $1,350
36. 2024-03-09
    historical $1,200
37. 2024-03-08
    listed $1,200
38. 2023-12-14
    historical $1,300
39. 2023-12-13
    listed $1,300
40. 2022-06-24
    price $1,200

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 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: $13,841
• − Mortgage interest: −$7,842
• − Property taxes: −$2,100
• − Insurance: −$700
• − Repairs & maintenance: −$1,107
• − Management: −$1,107
• − Depreciation: −$4,073
• Taxable loss: −$3,089
• Est. tax savings @ 24.0%: +$741
• After-tax cash flow: $65/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 · 13 photos

Good 75/100 Cosmetic rehab Est. rehab $4,945–$14,835 screening

This fully renovated 2-bedroom home in Sherman offers a bright and inviting layout with updated finishes and low-maintenance living. The property is in good condition with no visible repairs needed, making it a great investment opportunity.

Value-add opportunities

• Both Painting exterior siding — Enhances curb appeal and value ↑
• Both Landscaping and curb appeal improvements — Improves curb appeal and value ↑
• Both Replace ceiling fans with modern fixtures — Modernizes the space and adds value ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 30/100

Zoned Schools

Elementary Crutchfield El F TX #3,052/4,322 Nat'l #30,133/41,679 Middle Sherman Middle High Sherman H S F TX #930/1,632 Nat'l #9,405/17,239

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

C Composite livability gradescore 61/100

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 · 134,540 people
• City population: 54,936
• Metro: Sherman-Denison, TX
• Population (ZIP): 28,342
• Household income: $68,036
• Rent vs Own: 41.9% rent · 58.1% own
• Severe rent burden: 10% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Hispanic / Latino 10% Two or more races 8% Black 6% Asian 3%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Italian 3% Slovak 3% Lithuanian 2%
• Foreign-born: 6% · Canada, South Korea
• Languages at home: 92% English-only · Spanish 5% Other Indo-European 1%

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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: ▼ -201.47%
• Current HPI: 235.984
• Rent YoY: ▼ -2.36%
• Metro: Sherman-Denison, TX
• State GDP YoY: ▲ 3.95%
• F500 in state: 110

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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

Property features AI

Finance

• Financial info: Listing accepts Cash, Conventional, FHA, VA Loan, and 1031 Exchange
• HOA & community: No homeowners association

Exterior

• Parking: Covered parking (1 covered space)Garage (1-car)Off-street parkingOn-street parkingCarport not provided
• Security: Smoke detector(s)
• Utilities: City waterCity sewerAppliance energy efficiency features
• Home design: Single-family residenceOne storyResidential property
• Construction: Built in 1930Siding and other exterior materialsComposition roofPreowned
• Exterior features: Covered porch(es)Private yardLandscaped yardBack yard fencingChain link fenceFenced

Interior

• Kitchen: DishwasherDisposalElectric cooktopElectric ovenElectric rangeMicrowaveBuilt-in cabinetsGranite counters
• Bedrooms: 2 bedrooms (both on the main level)
• Flooring: Luxury vinyl plank
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric)Central air (electric)Ceiling fan(s)
• Interior features: Built-in featuresCable TV availableDecorative lightingGranite countersHigh-speed internet availableWindow coverings6 rooms totalOne-level layout1 living area1 dining area
• Laundry & utility: Full-size washer/dryer area

Price history

+11566.7% since first listed

38 events — show timeline

• 2026-07-30 Listed $140,000 NTREIS
• 2026-07-25 Price Changed $1,225 BUILDIUM
• 2026-07-17 Price Changed $1,250 BUILDIUM
• 2026-07-10 Price Changed $1,275 BUILDIUM
• 2026-06-23 Listed for Rent $1,300 BUILDIUM
• 2026-05-18 Listing Removed — NTREIS
• 2026-04-23 Rental Removed $1,175 BUILDIUM
• 2026-04-15 Price Changed $135,000 NTREIS
• 2026-04-10 Price Changed $140,000 NTREIS
• 2026-03-20 Price Changed $145,000 NTREIS
• 2026-03-13 Price Changed $1,175 BUILDIUM
• 2026-02-24 Listed for Rent $1,199 BUILDIUM
• 2026-02-20 Listed $150,000 NTREIS
• 2025-10-02 Listing Removed — NTREIS
• 2025-09-26 Price Changed $140,000 NTREIS
• 2025-09-09 Price Changed $142,500 NTREIS
• 2025-08-21 Price Changed $145,000 NTREIS
• 2025-08-07 Price Changed $147,500 NTREIS
• 2025-07-16 Rental Removed $1,225 BUILDIUM
• 2025-07-12 Price Changed $1,225 BUILDIUM
• 2025-07-10 Price Changed $150,000 NTREIS
• 2025-07-01 Price Changed $1,250 BUILDIUM
• 2025-06-30 Price Changed $152,500 NTREIS
• 2025-06-19 Price Changed $1,275 BUILDIUM
• 2025-06-19 Listed $155,000 NTREIS
• 2025-06-04 Price Changed $1,299 BUILDIUM
• 2025-05-17 Price Changed $1,325 BUILDIUM
• 2025-05-14 Price Changed $1,350 BUILDIUM
• 2025-04-22 Listed for Rent $1,375 BUILDIUM
• 2025-03-22 Rental Removed $1,300 BUILDIUM
• 2025-02-27 Price Changed $1,300 BUILDIUM
• 2025-02-22 Price Changed $1,325 BUILDIUM
• 2025-02-05 Listed for Rent $1,350 BUILDIUM
• 2024-03-09 Rental Removed $1,200 BUILDIUM
• 2024-03-08 Listed for Rent $1,200 BUILDIUM
• 2023-12-14 Rental Removed $1,300 BUILDIUM
• 2023-12-13 Listed for Rent $1,300 BUILDIUM
• 2022-06-24 Price Changed $1,200 BUILDIUM