2604 Pinoak St · Oak Trail Shores, TX 76048

$115,000

2 bd · 1.5 ba · 1,040 sqft · SingleFamily public records · 60 Days on market

Built 1981 3,920 sqft lot $111/sqft · 18% below area Est $140k · 18% under $10/mo HOA · 1% of rent

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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 +24.2/30.0
• ARV discount +15.0/15.0
• DSCR +7.8/10.0
• 1% rule +6.4/10.0
• Schools +4.0/10.0
• Livability +2.9/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Affordable opportunity in Oak Trail Shores! This 2-bedroom, 1 and a half bath home sits on two combined lots in an established lake community with low annual HOA dues and access to community amenities. The open living area features tile flooring, a brick fireplace, and a ceiling fan, with plenty of natural light from large windows. The eat-in kitchen offers good cabinet space and a stainless range. A 2nd living area, with a layout that is functional and efficient. The property is vacant and ready for its next chapter, whether as a primary residence, weekend retreat, or investment-rental. Call today for a tour!

Key facts

• 3,920 sq ft lot
• Built 1981
• Listed 60 days

Property features AI

Finance

• Other: Property listed as active and for sale; Possession at closing/funding
• Financial info: Acceptable financing: Cash and Conventional; No second mortgage reported
• HOA & community: Mandatory association (Oak Trail Shores Owners Association); Annual association fee of $120; Association fees cover full use of facilities and management fees; HOA management phone available

Exterior

• Parking: Driveway (no garage or covered/carport spaces listed)
• Utilities: All-weather road access; Co-op electric service; Not in a municipal utility district
• Home design: Single-family residence; One story; Residential property
• Construction: Built in 1981; Preowned
• Exterior features: Lot smaller than 0.5 acre; Subdivision: Oak Trail Shores Sec B

Interior

• Kitchen: Electric oven
• Bedrooms: 2 bedrooms (Primary bedroom on level 1)
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Electric heating
• Interior features: Eat-in kitchen; One living area; One dining area; Two total rooms (room count 2)
• Laundry & utility: No smart home features reported

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $229 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $112k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.7% vs local median 5.9% in Oak Trail Shores — 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 58/100 on livability (#1,187 in TX) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, crime B+; Watch: health & safety D+, amenities F, commute F.
• 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.
• Zoned schools: Nettie Baccus El (math 39% / reading 36%, grade F, #1,744 of 4,322 statewide, top 41%, 466 students, 81% FRL); Granbury Middle (math 35% / reading 40%, grade F, #736 of 1,662 statewide, top 45%, 846 students, 68% FRL); Granbury H S (math 38% / reading 51%, grade F, #652 of 1,632 statewide, top 43%, 2,202 students, 46% FRL) — zoned schools average 65% FRL vs 43% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.1%/yr); 932 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 125 units permitted in Hood County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k 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 60 days — a 3% lower offer ($112k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 9y 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

• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 6→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $111,550 (3.0% below list)

Questions for the listing agent

1. It's been on market 60 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-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: 1.14% ✓
• Cap rate: 8.68%
• Cash-on-cash: 8.52%
• DSCR: 1.38
• GRM: 7.3

CMA / ARV

• ARV (median comp): $139,666
• List price: $115,000
• Delta: -17.66%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2612 S Oak Trl	0.20mi	3/1.5 (+1)	1,029 (-1%)	2mo	$180,000	$175	82
2616 Pinoak St	0.06mi	2/1.0	948 (-9%)	16mo	$179,000	$189	67
3917 Greenbrook St	0.29mi	3/1.5 (+1)	1,152 (+11%)	2mo	$78,000	$68	62
3203 Sunrise Ct	0.56mi	3/2.0 (+1)	1,056 (+2%)	3mo	$180,000	$170	62
2906 Cedarhill St	0.49mi	3/2.0 (+1)	1,092 (+5%)	22mo	$110,000	$101	43
2923 Cedarbrush St	0.52mi	2/2.0	960 (-8%)	22mo	$73,000	$76	43

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 · 1.1% rent growth · sell at horizon

5-year hold

• IRR: -5.5%
• Equity multiple: 0.80×
• Total profit: $-6,492
• Equity at exit: $17,147

10-year hold

• IRR: 1.7%
• Equity multiple: 1.11×
• Total profit: $3,530
• Equity at exit: $9,943

Cash invested: $32,200 (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: 932
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,306 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$142 /mo · $1,700/yr
• Insurance: −$48
• HOA: −$10
• Vacancy / Maint / Mgmt: −$274
• Net cashflow: $229

Break-even live

Break-even rent $1,016

Max offer price $115,000

Occupancy floor 77%

Sensitivity live

Price	-10% $294	-5% $261	+0% $229	+5% $196	+10% $164
Rent	-10% $126	-5% $177	+0% $229	+5% $280	+10% $332
Rate	-1.0pp $287	-0.5pp $258	base $229	+0.5pp $199	+1.0pp $169

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3007 Inwood Trl Granbury, TX	1.0	1.0	902	$800	$0.89	21d	1	0.71mi
3225 Evergreen Dr Granbury, TX	3.0	1.0	916	$1,425	$1.56	0d	1	1.35mi

HOA detail

• Monthly dues: $10 · $120/yr

Listing history 33 events

1. 2026-06-22
   status $115,000 Pending 60 DOM
2. 2026-06-21
   days on market $115,000 Active 60 DOM
3. 2026-06-18
   days on market $115,000 Active 57 DOM
4. 2026-06-17
   days on market $115,000 Active 56 DOM
5. 2026-06-16
   days on market $115,000 Active 55 DOM
6. 2026-06-15
   days on market $115,000 Active 54 DOM
7. 2026-06-13
   days on market $115,000 Active 52 DOM
8. 2026-06-09
   days on market $115,000 Active 48 DOM
9. 2026-06-08
   days on market $115,000 Active 47 DOM
10. 2026-06-07
    days on market $115,000 Active 46 DOM
11. 2026-06-04
    days on market $115,000 Active 43 DOM
12. 2026-06-03
    days on market $115,000 Active 42 DOM
13. 2026-06-02
    days on market $115,000 Active 41 DOM
14. 2026-06-02
    days on market $115,000 Active 40 DOM
15. 2026-05-31
    days on market $115,000 Active 39 DOM
16. 2026-04-20
    listed $120,000 Active 617-char remark
17. 2020-02-29
    historical
18. 2020-02-03
    status Active
19. 2020-01-02
    historical Active Option Contract
20. 2019-11-07
    price $92,750
21. 2019-10-18
    price $95,900
22. 2019-09-27
    price $97,500
23. 2019-09-09
    price $99,950
24. 2019-09-02
    listed $99,995 Active
25. 2019-08-14
    soldstatus
26. 2017-04-17
    historical
27. 2017-04-12
    price $70,900
28. 2017-03-28
    price $74,900
29. 2017-03-19
    listed $79,900 Active
30. 2016-04-07
    soldstatus
31. 2013-09-23
    soldstatus
32. 2001-10-25
    soldstatus
33. 1975-12-04
    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: $1,700 · $142/mo
• Projected year-2 tax: $2,104 · $175/mo
• Expected delta: +$405/yr (+$34/mo · 23.8%)

ⓘ 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 5/10 Major
• 🌡 Heat 7/10 Severe 6 d/yr ≥108°F today · 18 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 24% 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: $15,666
• − Mortgage interest: −$6,442
• − Property taxes: −$1,700
• − Insurance: −$575
• − Repairs & maintenance: −$1,253
• − Management: −$1,253
• − HOA: −$120
• − Depreciation: −$3,345
• Taxable income: $978
• Est. tax owed @ 24.0%: −$235
• After-tax cash flow: $2,510/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 — Oak Trail Shores

• Score: 58/100
• State rank: #1187
• US rank: #20758

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Oak Trail Shores, TX
• County: Hood County · 58,506 people
• 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

+43.9% since first listed

20 events — show timeline

• 2026-06-21 Pending — NTREIS
• 2026-05-22 Price Changed $115,000 NTREIS
• 2026-04-20 Listed $120,000 NTREIS
• 2020-02-29 Listing Removed — NTREIS
• 2020-02-03 Relisted — NTREIS
• 2020-01-02 Contingent — NTREIS
• 2019-11-07 Price Changed $92,750 NTREIS
• 2019-10-18 Price Changed $95,900 NTREIS
• 2019-09-27 Price Changed $97,500 NTREIS
• 2019-09-09 Price Changed $99,950 NTREIS
• 2019-09-02 Listed $99,995 NTREIS
• 2019-08-14 Sold (Public Records) — Public Records
• 2017-04-17 Listing Removed — NTREIS
• 2017-04-12 Price Changed $70,900 NTREIS
• 2017-03-28 Price Changed $74,900 NTREIS
• 2017-03-19 Listed $79,900 NTREIS
• 2016-04-07 Sold (Public Records) — Public Records
• 2013-09-23 Sold (Public Records) — Public Records
• 2001-10-25 Sold (Public Records) — Public Records
• 1975-12-04 Sold (Public Records) — Public Records

Property tax history

+5.7%/yr

Latest (2025): $1,700 · +4.4% YoY. Source: county tax records.