2120 N Hickory St · Sherman, TX 75092

$103,000

3 bd · 1.0 ba · 1,021 sqft · SingleFamily public records · 21 Days on market

Built 1959 8,821 sqft lot $101/sqft · 38% below area Est $198k · 48% under

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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 +26.6/30.0
• ARV discount +15.0/15.0
• DSCR +9.1/10.0
• 1% rule +8.9/10.0
• Livability +3.1/5.0
• Schools +2.9/10.0
• Condition / age +2.5/5.0
• Rent growth +1.9/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Corner lot, recently updated with fresh paint both interior and exterior, recent flooring, bath and kitchen updated, roof 2005, ch & a, Everything has been done, move in ready. New kitchen stove to remain.

Key facts

• 8,821 sq ft lot
• Garage
• Built 1959

Property features AI

Finance

• Financial info: Accepts cash and conventional financing; No second mortgage
• HOA & community: No homeowners association

Exterior

• Parking: Attached 1-car garage; 1 covered parking space (garage faces front)
• Utilities: City water; City sewer; Electricity connected; Individual gas meter; Individual water meter; All-weather road access
• Home design: Single-family residence; One-story (entry on main level); Residential property
• Construction: Built in 1959; Wood construction; Composition roof; Pillar/Post/Pier foundation
• Exterior features: Chain link fencing; Corner lot

Interior

• Kitchen: Electric range
• Bedrooms: 3 bedrooms (all on the main level)
• Flooring: Wood flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Eat-in kitchen; Six total rooms; One living area; One dining area
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $103k.

Deal economics

• At list price, monthly cash flow is $276 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $103k).
• Recommended offer: $101k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.5% 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: Fairview El (math 32% / reading 37%, grade F, #1,995 of 4,322 statewide, top 50%, 294 students, 75% FRL) — zoned schools average 75% FRL vs 60% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-2.4%/yr); 636 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); 50% 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 $712 of loan paydown is wiped out by about $3k 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 21 days — a 2% lower offer ($101k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 19y 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 3.1% of price; built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $101,455 (1.5% below list)

Questions for the listing agent

1. Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 1.39% ✓
• Cap rate: 9.51%
• Cash-on-cash: 11.49%
• DSCR: 1.51
• GRM: 6.0

CMA / ARV

• ARV (median comp): $197,755
• List price: $103,000
• Delta: -47.92%
• 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
2419 N Shannon St	0.19mi	3/1.0	1,044 (+2%)	4mo	$99,999	$96	84
2121 N Alexander St	0.10mi	3/1.0	1,128 (+10%)	6mo	$189,000	$168	72
2221 N Alexander St	0.12mi	3/2.0	1,122 (+10%)	4mo	$195,000	$174	71
224 W Dexter St	0.14mi	3/2.0	1,130 (+11%)	6mo	$209,000	$185	66
1706 N Shannon St	0.33mi	2/1.0 (-1)	1,066 (+4%)	9mo	$141,500	$133	65
1718 N Ricketts St	0.45mi	2/1.5 (-1)	1,048 (+3%)	12mo	$169,900	$162	58
705 E Lamberth Rd	0.73mi	3/2.0	1,028 (+1%)	6mo	$108,000	$105	56
1706 N Ricketts St	0.47mi	3/2.0	1,106 (+8%)	8mo	$129,900	$117	53
1517 N Highland Ave	0.69mi	3/1.0	1,100 (+8%)	5mo	$179,000	$163	51
404 E Orange St	0.74mi	2/1.0 (-1)	927 (-9%)	0mo	$75,000	$81	45
1518 N Ricketts St	0.58mi	2/1.0 (-1)	1,144 (+12%)	9mo	$189,900	$166	40
1234 N Travis St	0.70mi	3/1.0	1,169 (+14%)	11mo	$195,000	$167	34

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: -3.0%
• Equity multiple: 0.89×
• Total profit: $-3,174
• Equity at exit: $15,358

10-year hold

• IRR: 2.4%
• Equity multiple: 1.14×
• Total profit: $4,162
• Equity at exit: $8,906

Cash invested: $28,840 (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 75092

• Rents YoY: -2.4%
• Active inventory: 636
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,427 high
• Mortgage (P&I): −$540
• Tax from tax record: −$268 /mo · $3,216/yr
• Insurance: −$43
• HOA: −$0
• Vacancy / Maint / Mgmt: −$300
• Net cashflow: $276

Break-even live

Break-even rent $1,077

Max offer price $103,000

Occupancy floor 76%

Sensitivity live

Price	-10% $334	-5% $305	+0% $276	+5% $247	+10% $218
Rent	-10% $163	-5% $220	+0% $276	+5% $333	+10% $389
Rate	-1.0pp $328	-0.5pp $302	base $276	+0.5pp $250	+1.0pp $222

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: $25,750
• Closing costs: $3,090
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
221 W Burton St Sherman, TX	3.0	1.0	1440	$1,250	$0.87	44d	1	0.04mi
2222 N Hickory St Sherman, TX	2.0	1.0	968	$1,350	$1.39	44d	1	0.07mi
2309 N Hickory St Sherman, TX	2.0	2.0	951	$1,250	$1.31	44d	1	0.10mi
411 W Pelton St Unit B Sherman, TX	2.0	1.0	1014	$1,025	$1.01	22d	1	0.14mi
2409 Hickory St Sherman, TX	3.0	2.0	1095	$1,500	$1.37	44d	1	0.16mi
2407 N Shannon St Sherman, TX	3.0	2.0	1027	$1,495	$1.46	22d	1	0.17mi
221 W Taylor St Sherman, TX	3.0	2.0	917	$1,425	$1.55	22d	1	0.17mi
1916 N Alexander St Sherman, TX	3.0	2.0	1240	$1,575	$1.27	44d	1	0.19mi
302 W Pelton St Sherman, TX	2.0	2.0	958	$1,450	$1.51	44d	1	0.23mi
110-112 W Fairview St Sherman, TX	2.0	1.5	1200	$1,200	$1.00	44d	1	0.30mi
1615 N Alexander St Sherman, TX	2.0	1.0	826	$950	$1.15	22d	1	0.39mi
1706 N Ricketts St Sherman, TX	3.0	2.0	1106	$1,600	$1.45	22d	1	0.48mi
1809 Park Pl Sherman, TX	3.0	2.0	1326	$1,425	$1.07	22d	1	0.65mi
1811 Park Pl Sherman, TX	3.0	2.0	1326	$1,425	$1.07	22d	1	0.65mi
1312 N Travis St Sherman, TX	3.0	1.5	1086	$1,325	$1.22	44d	1	0.66mi
1200 W Taylor St Sherman, TX	1.0–2.0	1.0–2.0	814	$849	$1.04	22d	42	0.73mi
1420 Park Pl Unit 001 Sherman, TX	2.0	1.0	800	$1,050	$1.31	22d	1	0.74mi
1420 Park Pl Sherman, TX	2.0	1.0	800	$1,000	$1.25	44d	1	0.74mi
1350 W Taylor St Sherman, TX	1.0–3.0	1.0–2.0	1153	$2,250	$1.95	22d	129	0.76mi
3018 Serenity Ln Sherman, TX	3.0	2.0	1156	$1,825	$1.58	44d	1	0.76mi
1404 Park Pl Sherman, TX	3.0	2.0	1150	$1,400	$1.22	44d	1	0.77mi
717 E Lamberth Rd Sherman, TX	3.0	2.0	1216	$1,500	$1.23	44d	1	0.78mi
907 W Birge St Sherman, TX	2.0	2.0	952	$1,100	$1.16	44d	1	0.82mi
822 W Fischer St Sherman, TX	3.0	1.0	1256	$1,350	$1.07	22d	1	0.91mi
820 N Sam Rayburn Fwy Unit 204 Sherman, TX	2.0	1.5	1027	$1,350	$1.31	44d	1	0.96mi
3114 Rex Cruse Dr Sherman, TX	1.0–2.0	1.0–2.0	880	$1,260	$1.43	22d	9	0.96mi
814 W College St Sherman, TX	2.0	2.0	1100	$1,150	$1.05	44d	1	0.97mi
823 N Branch St Sherman, TX	3.0	2.0	1357	$1,650	$1.22	22d	1	1.05mi
916 N Throckmorton St Sherman, TX	3.0	2.0	1259	$1,400	$1.11	22d	1	1.08mi
301 E Brockett St Unit 100 Sherman, TX	4.0	4.0	1169	$1,400	$1.20	44d	1	1.10mi
614 E College St Sherman, TX	3.0	2.0	1238	$1,400	$1.13	22d	1	1.11mi
914 W Washington St Unit F Sherman, TX	2.0	1.5	1287	$1,165	$0.91	44d	1	1.11mi
620 N Walnut St Sherman, TX	2.0	1.0	1100	$1,050	$0.95	44d	1	1.11mi
608 E College St Unit 608 Sherman, TX	3.0	2.0	1230	$1,325	$1.08	22d	1	1.12mi
607 E Carter St Unit 609 Sherman, TX	3.0	2.0	1230	$1,450	$1.18	22d	1	1.15mi
609 E Carter St Sherman, TX	3.0	2.0	1230	$1,450	$1.18	22d	1	1.16mi
524-526 N Woods St Sherman, TX	3.0	2.0	1454	$1,445	$0.99	44d	1	1.16mi
930 W Freeman St Sherman, TX	3.0	2.0	1222	$1,499	$1.23	22d	1	1.16mi
211 E Canyon Grove Rd Knollwood, TX	1.0–3.0	1.0–2.0	953	$1,650	$1.73	22d	10	1.16mi
1509 N Grant Dr Sherman, TX	2.0	1.0	839	$1,250	$1.49	44d	1	1.24mi

Listing history 12 events

1. 2026-04-30
   listed $103,000 Active 568-char remark
2. 2026-01-19
   historical
3. 2025-12-29
   status Active
4. 2025-12-29
   price $159,500
5. 2025-05-28
   status Active
6. 2024-11-12
   listed $195,000 Active
7. 2015-03-18
   soldstatus
8. 2007-10-29
   soldstatus
9. 2007-10-26
   soldstatus

   Show marketing remark (209 chars)

   Corner lot, recently updated with fresh paint both interior and exterior, recent flooring, bath and kitchen updated, roof 2005, ch & a, Everything has been done, move in ready. New kitchen stove to remain.

10. 2007-09-28
    historical

    Show marketing remark (209 chars)

    Corner lot, recently updated with fresh paint both interior and exterior, recent flooring, bath and kitchen updated, roof 2005, ch & a, Everything has been done, move in ready. New kitchen stove to remain.

11. 2007-08-03
    listed $78,500

    Show marketing remark (209 chars)

    Corner lot, recently updated with fresh paint both interior and exterior, recent flooring, bath and kitchen updated, roof 2005, ch & a, Everything has been done, move in ready. New kitchen stove to remain.

12. 2001-12-19
    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: $3,216 · $268/mo
• Projected year-2 tax: $3,216 · $268/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 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥108°F today · 21 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 20% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,123
• − Mortgage interest: −$5,770
• − Property taxes: −$3,216
• − Insurance: −$515
• − Repairs & maintenance: −$1,370
• − Management: −$1,370
• − Depreciation: −$2,996
• Taxable income: $1,886
• Est. tax owed @ 24.0%: −$453
• After-tax cash flow: $2,862/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): 28,342
• Household income: $68,036
• Rent vs Own: 41.9% rent · 58.1% own
• Severe rent burden: 1278.0

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 (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%

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

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

+31.2% since first listed

13 events — show timeline

• 2026-05-21 Pending — NTREIS
• 2026-04-30 Listed $103,000 NTREIS
• 2026-01-19 Listing Removed — NTREIS
• 2025-12-29 Relisted — NTREIS
• 2025-12-29 Price Changed $159,500 NTREIS
• 2025-05-28 Relisted — NTREIS
• 2024-11-12 Listed $195,000 NTREIS
• 2015-03-18 Sold (Public Records) — Public Records
• 2007-10-29 Sold (Public Records) — Public Records
• 2007-10-26 Sold (MLS) — NTREIS
• 2007-09-28 Listing Removed — NTREIS
• 2007-08-03 Listed $78,500 NTREIS
• 2001-12-19 Sold (Public Records) — Public Records

Property tax history

+4.2%/yr

Latest (2025): $3,216 · +16.0% YoY. Source: county tax records.