808 Flamingo Rd · Granbury, TX 76049

$134,500

2 bd · 2.0 ba · 2,280 sqft · SingleFamily public records · 109 Days on market

Built 1985 0.33 ac lot $59/sqft · 71% below area ↓ 39% since listing

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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 +29.9/30.0
• DSCR +10.0/10.0
• 1% rule +8.8/10.0
• ARV discount +7.5/15.0
• Schools +4.0/10.0
• Rent growth +3.8/5.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

HUD Case #492-901319. Welcome to 808 Flamingo Rd! This Granbury property offers comfortable living in a convenient location near Lake Granbury and local amenities. The home features an easy-flow layout with inviting living spaces and well-proportioned rooms throughout. The lot provides generous outdoor space for relaxing, gardening, or entertaining. Whether you’re looking for a full-time residence or a weekend getaway, this property offers great potential in a desirable area. Come take a look!

Key facts

• Convenient location
• 0.33 acre lot
• Garage

Tags

• CONVENIENT LOCATION
• GENEROUS OUTDOOR SPACE

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $134k.

Deal economics

• At list price, monthly cash flow is $498 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $134k).
• Recommended offer: $122k (9.0% below list) — sets the bar for market timing.
• Cap rate 10.7% 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 fast (+5.2%/yr); 703 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 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 $930 of loan paydown is wiped out by about $4k 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.
• At projected returns (-3.0% appreciation + 5.2% rent growth), your $38k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 109 days — a 9% lower offer ($122k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 3y ago; this cycle's ask has dropped $15k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: moderate 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 $122,395 (9.0% below list)

Questions for the listing agent

1. It's been on market 109 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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?
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: 1.38% ✓
• Cap rate: 10.74%
• Cash-on-cash: 15.87%
• DSCR: 1.71
• GRM: 6.1

CMA / ARV

• ARV (median comp): $401,031
• List price: $134,500
• Delta: -66.46%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
504 Buena Vista Ct	0.28mi	3/2.0 (+1)	2,298 (+1%)	2mo	$450,000	$196	79
711 Aqua Vista Dr	0.27mi	3/2.0 (+1)	2,182 (-4%)	10mo	$690,000	$316	67
207 Aqua Vista Dr	0.52mi	3/2.5 (+1)	2,278 (-0%)	11mo	$430,000	$189	60
205 Aqua Vista Dr	0.54mi	3/3.0 (+1)	2,300 (+1%)	22mo	$380,000	$165	46
204 Bonita Dr	0.60mi	3/2.5 (+1)	2,090 (-8%)	23mo	$450,000	$215	32

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 · 5.2% rent growth · sell at horizon

5-year hold

• IRR: 9.3%
• Equity multiple: 1.38×
• Total profit: $14,164
• Equity at exit: $20,054

10-year hold

• IRR: 20.3%
• Equity multiple: 2.89×
• Total profit: $71,351
• Equity at exit: $11,629

Cash invested: $37,660 (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 76049

• Home prices YoY: -26.8%
• Rents YoY: 5.2%
• Active inventory: 703
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,850 medium
• Mortgage (P&I): −$705
• Tax from tax record: −$202 /mo · $2,429/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$389
• Net cashflow: $498

Break-even live

Break-even rent $1,220

Max offer price $134,500

Occupancy floor 68%

Sensitivity live

Price	-10% $574	-5% $536	+0% $498	+5% $460	+10% $422
Rent	-10% $352	-5% $425	+0% $498	+5% $571	+10% $644
Rate	-1.0pp $566	-0.5pp $532	base $498	+0.5pp $463	+1.0pp $428

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: $33,625
• Closing costs: $4,035
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3318 Crystal Clear Ct Granbury, TX	3.0	2.0	1772	$2,500	$1.41	44d	1	1.02mi

Listing history 38 events

1. 2026-06-21
   days on market $134,500 Active 109 DOM
2. 2026-06-18
   days on market $134,500 Active 106 DOM
3. 2026-06-17
   days on market $134,500 Active 105 DOM
4. 2026-06-16
   days on market $134,500 Active 104 DOM
5. 2026-06-15
   days on market $134,500 Active 103 DOM
6. 2026-06-13
   days on market $134,500 Active 101 DOM
7. 2026-06-09
   days on market $134,500 Active 97 DOM
8. 2026-06-08
   days on market $134,500 Active 96 DOM
9. 2026-06-07
   days on market $134,500 Active 95 DOM
10. 2026-06-04
    days on market $134,500 Active 92 DOM
11. 2026-06-03
    days on market $134,500 Active 91 DOM
12. 2026-06-02
    days on market $134,500 Active 90 DOM
13. 2026-06-02
    days on market $134,500 Active 89 DOM
14. 2026-05-31
    days on market $134,500 Active 88 DOM
15. 2026-05-12
    status Active 504-char remark

    Show marketing remark (504 chars)

    HUD Case #492-901319. Welcome to 808 Flamingo Rd! This Granbury property offers comfortable living in a convenient location near Lake Granbury and local amenities. The home features an easy-flow layout with inviting living spaces and well-proportioned rooms throughout. The lot provides generous outdoor space for relaxing, gardening, or entertaining. Whether you’re looking for a full-time residence or a weekend getaway, this property offers great potential in a desirable area. Come take a look!

16. 2026-04-08
    historical Active Option Contract 504-char remark

    Show marketing remark (504 chars)

    HUD Case #492-901319. Welcome to 808 Flamingo Rd! This Granbury property offers comfortable living in a convenient location near Lake Granbury and local amenities. The home features an easy-flow layout with inviting living spaces and well-proportioned rooms throughout. The lot provides generous outdoor space for relaxing, gardening, or entertaining. Whether you’re looking for a full-time residence or a weekend getaway, this property offers great potential in a desirable area. Come take a look!

17. 2026-03-04
    listed $149,600 Active 504-char remark

    Show marketing remark (504 chars)

    HUD Case #492-901319. Welcome to 808 Flamingo Rd! This Granbury property offers comfortable living in a convenient location near Lake Granbury and local amenities. The home features an easy-flow layout with inviting living spaces and well-proportioned rooms throughout. The lot provides generous outdoor space for relaxing, gardening, or entertaining. Whether you’re looking for a full-time residence or a weekend getaway, this property offers great potential in a desirable area. Come take a look!

18. 2026-02-17
    historical
19. 2026-02-12
    status Active
20. 2026-01-21
    historical Active Option Contract
21. 2026-01-05
    price $176,000
22. 2025-11-17
    listed $220,000 Active
23. 2024-03-02
    historical
24. 2024-02-01
    listed $207,000 Active
25. 2024-01-16
    historical
26. 2023-11-21
    status Active
27. 2023-11-14
    historical Active Option Contract
28. 2023-10-16
    listed $229,000 Active
29. 2023-09-08
    historical
30. 2023-06-10
    price $235,000
31. 2023-05-13
    status Active
32. 2023-05-05
    status Active
33. 2023-04-28
    historical Active Option Contract
34. 2023-04-20
    status Active
35. 2023-04-14
    historical Active Option Contract
36. 2023-04-11
    price $244,900
37. 2023-02-23
    price $249,900
38. 2023-02-20
    listed $245,000 Active

ⓘ 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: $2,429 · $202/mo
• Projected year-2 tax: $2,461 · $205/mo
• Expected delta: +$32/yr (+$3/mo · 1.3%)

ⓘ 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 7 d/yr ≥108°F today · 23 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: $22,206
• − Mortgage interest: −$7,534
• − Property taxes: −$2,429
• − Insurance: −$672
• − Repairs & maintenance: −$1,776
• − Management: −$1,776
• − Depreciation: −$3,913
• Taxable income: $4,105
• Est. tax owed @ 24.0%: −$985
• After-tax cash flow: $4,992/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): 31,506
• Household income: $104,967
• Rent vs Own: 12.3% rent · 87.7% own
• Severe rent burden: 235.0

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 (82%)
• Race & ethnicity: White 82% Hispanic / Latino 14% Two or more races 9%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Slovak 3% Serbian 2% Italian 2%
• Foreign-born: 5% · Canada
• Languages at home: 91% English-only · Spanish 8%

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: ▼ -100.09%
• Current HPI: 273.1293
• Rent YoY: ▲ 5.20%
• 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

-38.9% since first listed

24 events — show timeline

• 2026-05-12 Relisted — NTREIS
• 2026-04-08 Contingent — NTREIS
• 2026-03-04 Listed $149,600 NTREIS
• 2026-02-17 Listing Removed — NTREIS
• 2026-02-12 Relisted — NTREIS
• 2026-01-21 Contingent — NTREIS
• 2026-01-05 Price Changed $176,000 NTREIS
• 2025-11-17 Listed $220,000 NTREIS
• 2024-03-02 Listing Removed — NTREIS
• 2024-02-01 Listed $207,000 NTREIS
• 2024-01-16 Listing Removed — NTREIS
• 2023-11-21 Relisted — NTREIS
• 2023-11-14 Contingent — NTREIS
• 2023-10-16 Listed $229,000 NTREIS
• 2023-09-08 Listing Removed — NTREIS
• 2023-06-10 Price Changed $235,000 NTREIS
• 2023-05-13 Relisted — NTREIS
• 2023-05-05 Relisted — NTREIS
• 2023-04-28 Contingent — NTREIS
• 2023-04-20 Relisted — NTREIS
• 2023-04-14 Contingent — NTREIS
• 2023-04-11 Price Changed $244,900 NTREIS
• 2023-02-23 Price Changed $249,900 NTREIS
• 2023-02-20 Listed $245,000 NTREIS

Property tax history

+2.0%/yr

Latest (2025): $2,429 · +5.3% YoY. Source: county tax records.