1315 Phoenix Ct · Granbury, TX 76048

$215,000

3 bd · 2.0 ba · 1,512 sqft · Other · 72 Days on market

Built 2006 1,742 sqft lot $142/sqft · 17% below area Est $258k · 17% under $17/mo HOA · 1% of rent

---

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 +15.0/15.0
• Cash flow +13.6/30.0
• DSCR +4.1/10.0
• Schools +4.0/10.0
• 1% rule +3.9/10.0
• Livability +3.3/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming 3-bedroom, 2-bath home situated on two spacious lots, offering both comfort and room to grow. Located on a quiet cul-de-sac in a peaceful neighborhood, this property backs up to a greenbelt—providing added privacy and a serene setting. The home is in immaculate condition and features a newly poured concrete driveway, adding durability and a clean, modern touch. Inside, you’ll find a well-maintained space ready for its next owner, with the oversized refrigerator included for added convenience. Additional updates include a newer outdoor HVAC unit, installed just 2 years ago, giving peace of mind for years to come. This is a fantastic opportunity for anyone seeking the perfect balance of privacy, space, and convenience.

Key facts

• 1,742 sq ft lot
• Built 2006
• Listed 72 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $215k.

Deal economics

• At list price, monthly cash flow is $13 ($154/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $192k (10.8% below list).
• Recommended offer: $192k (10.8% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 3.8% in Granbury — 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 66/100 on livability (#628 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, crime D+, schools D.
• Granbury ISD (town): math 46% / reading 46% proficiency, ranked #237 of 826 in TX (top 29%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+1.1%/yr); 929 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 125 units permitted in Hood County in 2024 (0 in 5+ unit buildings).
• This rent runs 33% of the median local income ($70k/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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Hood County population projected at +29% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 72 days — a 6% lower offer ($202k) is reasonable based on typical stale-listing flexibility.
• 2 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.
• Current owner paid $94k; list at $215k implies a 128% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $191,850 (10.8% below list)

Questions for the listing agent

1. It's been on market 72 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 6.36%
• Cash-on-cash: 0.26%
• DSCR: 1.01
• GRM: 9.3

CMA / ARV

• ARV (median comp): $258,452
• List price: $215,000
• Delta: -16.81%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.1% rent growth · sell at horizon

5-year hold

• IRR: -18.1%
• Equity multiple: 0.38×
• Total profit: $-37,584
• Equity at exit: $32,057

10-year hold

• IRR: -14.5%
• Equity multiple: 0.24×
• Total profit: $-45,736
• Equity at exit: $18,589

Cash invested: $60,200 (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 →

ZIP-level market 76048

• Home prices YoY: -23.4%
• Rents YoY: 1.1%
• Active inventory: 929
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,918 high
• Mortgage (P&I): −$1,127
• Tax est. 1.5%: −$269 /mo · $3,225/yr
• Insurance: −$90
• HOA: −$17
• Vacancy / Maint / Mgmt: −$403
• Net cashflow: $13

Break-even live

Break-even rent $1,902

Max offer price $215,000

Occupancy floor 94%

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2314 Creekview Dr Granbury, TX	3.0	2.0	1294	$1,850	$1.43	24d	1	0.22mi
2224 Hercules Dr Granbury, TX	3.0	2.0	1703	$2,000	$1.17	24d	1	0.27mi
2509 Elk Trl Granbury, TX	3.0	2.0	1425	$1,695	$1.19	43d	1	0.34mi
606 Heritage Trl Granbury, TX	3.0	2.0	1415	$1,875	$1.33	43d	1	0.54mi
919 Arkansas River Dr Granbury, TX	3.0	2.0	1200	$1,775	$1.48	12d	1	0.72mi
408 Heritage Trl Granbury, TX	3.0	2.0	1635	$1,890	$1.16	22d	1	0.72mi
3505 Brazos River Dr Granbury, TX	3.0	2.0	1337	$1,900	$1.42	43d	1	0.80mi
1414 Lauren Ln Granbury, TX	3.0	2.0	1500	$2,100	$1.40	24d	1	1.14mi
1113 Gifford Dr Granbury, TX	3.0	2.0	1248	$1,749	$1.40	24d	1	1.37mi

HOA detail

• Monthly dues: $17 · $204/yr

Listing history 20 events

1. 2026-06-18
   days on market $215,000 Active 72 DOM
2. 2026-06-17
   days on market $215,000 Active 71 DOM
3. 2026-06-16
   days on market $215,000 Active 70 DOM
4. 2026-06-15
   days on market $215,000 Active 69 DOM
5. 2026-06-13
   days on market $215,000 Active 67 DOM
6. 2026-06-09
   days on market $215,000 Active 63 DOM
7. 2026-06-08
   days on market $215,000 Active 62 DOM
8. 2026-06-07
   days on market $215,000 Active 61 DOM
9. 2026-06-04
   days on market $215,000 Active 58 DOM
10. 2026-06-03
    days on market $215,000 Active 57 DOM
11. 2026-06-02
    days on market $215,000 Active 56 DOM
12. 2026-06-02
    days on market $215,000 Active 55 DOM
13. 2026-05-31
    days on market $215,000 Active 54 DOM
14. 2026-04-07
    listed $215,000 Active 756-char remark

    Show marketing remark (756 chars)

    Charming 3-bedroom, 2-bath home situated on two spacious lots, offering both comfort and room to grow. Located on a quiet cul-de-sac in a peaceful neighborhood, this property backs up to a greenbelt—providing added privacy and a serene setting. The home is in immaculate condition and features a newly poured concrete driveway, adding durability and a clean, modern touch. Inside, you’ll find a well-maintained space ready for its next owner, with the oversized refrigerator included for added convenience. Additional updates include a newer outdoor HVAC unit, installed just 2 years ago, giving peace of mind for years to come. This is a fantastic opportunity for anyone seeking the perfect balance of privacy, space, and convenience.

15. 2022-09-06
    soldstatus Closed 431-char remark

    Show marketing remark (431 chars)

    Great Location in Comanche Cove Subdivision country living at its best in Hood Co. Custom 3 Bedroom, 2 Bath double wide home with 2 large living areas your choice for big family room, plenty of space. Formal dining room, large kitchen area open concept. Updated with new skirting, new paint inside and outside, New stainless steel appliances including refrigerator, new flooring and carpet in bedrooms. Front porch and back deck.

16. 2022-08-06
    status Pending 431-char remark

    Show marketing remark (431 chars)

    Great Location in Comanche Cove Subdivision country living at its best in Hood Co. Custom 3 Bedroom, 2 Bath double wide home with 2 large living areas your choice for big family room, plenty of space. Formal dining room, large kitchen area open concept. Updated with new skirting, new paint inside and outside, New stainless steel appliances including refrigerator, new flooring and carpet in bedrooms. Front porch and back deck.

17. 2022-08-01
    historical Active Option Contract 431-char remark

    Show marketing remark (431 chars)

    Great Location in Comanche Cove Subdivision country living at its best in Hood Co. Custom 3 Bedroom, 2 Bath double wide home with 2 large living areas your choice for big family room, plenty of space. Formal dining room, large kitchen area open concept. Updated with new skirting, new paint inside and outside, New stainless steel appliances including refrigerator, new flooring and carpet in bedrooms. Front porch and back deck.

18. 2022-05-12
    price $209,500 431-char remark

    Show marketing remark (431 chars)

    Great Location in Comanche Cove Subdivision country living at its best in Hood Co. Custom 3 Bedroom, 2 Bath double wide home with 2 large living areas your choice for big family room, plenty of space. Formal dining room, large kitchen area open concept. Updated with new skirting, new paint inside and outside, New stainless steel appliances including refrigerator, new flooring and carpet in bedrooms. Front porch and back deck.

19. 2021-11-14
    listed $219,500 Active 431-char remark

    Show marketing remark (431 chars)

    Great Location in Comanche Cove Subdivision country living at its best in Hood Co. Custom 3 Bedroom, 2 Bath double wide home with 2 large living areas your choice for big family room, plenty of space. Formal dining room, large kitchen area open concept. Updated with new skirting, new paint inside and outside, New stainless steel appliances including refrigerator, new flooring and carpet in bedrooms. Front porch and back deck.

20. 2021-08-23
    soldstatus $94,500

ⓘ 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 6/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥108°F today · 23 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,022
• − Mortgage interest: −$12,043
• − Property taxes: −$3,225
• − Insurance: −$1,075
• − Repairs & maintenance: −$1,842
• − Management: −$1,842
• − HOA: −$204
• − Depreciation: −$6,255
• Taxable loss: −$3,463
• Est. tax savings @ 24.0%: +$831
• After-tax cash flow: $985/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: Granbury ISD
• NCES district ID: 4821390
• Math proficiency: 46% ▬ 0.00%
• Reading proficiency: 46% ▲ 4.00%
• Median HH income: $55,856
• Composite: 40.04/100
• National rank: #3820
• State rank: #237 of 826 in TX

Livability — Granbury

• Score: 66/100
• State rank: #628
• US rank: #11998

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Hood County · 58,506 people
• City population: 58,506
• Metro: Granbury, TX
• Population (ZIP): 27,000
• Household income: $70,346
• Rent vs Own: 26.4% rent · 73.6% own
• Severe rent burden: 612.0

Population outlook (Hood County) Hauer SSP2

• Today (2025): 63,502 people
• By 2030: 67,459 · +6.2%
• By 2040: 74,958 · +18.0%
• By 2050: 81,922 · +29.0%
• By 2075: 98,872 · +55.7%
• By 2100: 107,796 · +69.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Hispanic / Latino 14% Two or more races 11% Black 1%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Italian 2% Slovak 2% Portuguese 1%
• Foreign-born: 4% · Canada
• Languages at home: 89% English-only · Spanish 10%

Political lean MEDSL · Hood

• 2024 margin: Solid R (+66.0) · D 16.6% · R 82.6%
• 2008→2024 swing: -11.9pp toward R · 2008: -54.0pp · 2024: -66.0pp
• All cycles: 2024: R+66.0 2020: R+64.1 2016: R+66.5 2012: R+64.7 2008: R+54.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -83.25%
• Current HPI: 272.2126
• Rent YoY: ▲ 1.10%
• Metro: Granbury, 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

+127.5% since first listed

7 events — show timeline

• 2026-04-07 Listed $215,000 NTREIS
• 2022-09-06 Sold (MLS) — NTREIS
• 2022-08-06 Pending — NTREIS
• 2022-08-01 Contingent — NTREIS
• 2022-05-12 Price Changed $209,500 NTREIS
• 2021-11-14 Listed $219,500 NTREIS
• 2021-08-23 Sold (Public Records) $94,500 Public Records

Property tax history

+10.3%/yr

Latest (2022): $133 · +151.9% YoY. Source: county tax records.