309-311 Lilac Dr · Granbury, TX 76049

$255,000

4 bd · 2.0 ba · 1,764 sqft · MultiFamily public records · 13 Days on market

Built 1986 10,019 sqft lot Est $259k · at est.

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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 +28.3/30.0
• DSCR +10.0/10.0
• ARV discount +8.2/15.0
• 1% rule +7.1/10.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Calling all investors! * * BRAND NEW ROOF INSTALLED, ALL 8 WINDOWS IN THE FRONT REPLACED, NEW FLOORING INSTALLED IN THE LIVING AREAS * * This income-producing duplex is ready to generate returns from day one. Each unit offers 2 bedrooms and 1 bathroom, featuring an open floor plan that maximizes space and comfort. You can enjoy a fenced backyard, perfect for outdoor activities. Conveniently located close to shopping, dining, and entertainment, this property sits on the desirable Fort Worth side of town—ideal for commuters with easy access to the metroplex. Since a new roof was installed, it will provide added peace of mind and value for years to come. Don’t miss this opportu

Key facts

• New hvac installed
• Brand new roof
• Fenced backyard

Tags

• BRAND NEW ROOF
• NEW FLOORING INSTALLED
• FENCED BACKYARD
• NEW HVAC INSTALLED
• WATER HEATER REPLACED
• NEW DISHWASHER INSTALLED

Property features AI

Finance

• Other: Tenancy terms: Over 9 months; Possession at closing/funding
• Financial info: Property listed as residential income with 2 units; 1 building containing 2 units; 100% occupancy; Gross annual income reported at $24,900; Net operating income reported at $24,900; Cap rate: 9.76%; Listing terms include Cash, Conventional, FHA, and VA loan
• HOA & community: No association

Exterior

• Parking: Open common parking; Concrete surfaces; Total 4 parking spaces
• Utilities: Co-op electric; Private water; Septic system; No city services; All-weather road access
• Home design: Duplex (residential income); One-level; Built in 1986; Composition roof; Pillar/post/pier foundation; Complex name: 309 - 311 Lilac; Subdivision: Eastwood Village; Country: United States; County: Hood
• Construction: Brick construction
• Exterior features: Corner lot; Large backyard with grass; Chain link fencing; Fenced; Some areas with no fencing

Interior

• Kitchen: Dishwasher; Electric oven; Electric range; Refrigerator
• Bedrooms: 4 bedrooms
• Flooring: Vinyl flooring
• Bathrooms: 2 bathrooms
• Heating & cooling: Central heating (electric); Central air; Ceiling fan(s)
• Interior features: Cable TV available; Decorative lighting; Eat-in kitchen; High speed internet available
• Laundry & utility: Appliances contribute to energy efficiency

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $255k.

Deal economics

• At list price, monthly cash flow is $819 ($10k/yr) — positive. Per door: $409/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $255k).
• Cap rate 10.1% 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+, amenities 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: Acton El (math 52% / reading 46%, grade D, #926 of 4,322 statewide, top 22%, 814 students, 48% FRL).
• Market conditions: Rents rising fast (+5.2%/yr); 690 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 53% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 125 units permitted in Hood County in 2024 (0 in 5+ unit buildings).
• This rent runs 35% of the median local income ($105k/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 $2k of loan paydown is wiped out by about $8k 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 $71k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 sale attempts since 18y 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: major wind risk, 27% chance of damaging wind over 30y; 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 $255,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.21% ✓
• Cap rate: 10.15%
• Cash-on-cash: 13.76%
• DSCR: 1.61
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $259,308
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4504-4506 Eastview Ct	0.02mi	4/2.0	1,764 (0%)	9mo	$260,000	$147	92

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: 6.2%
• Equity multiple: 1.25×
• Total profit: $17,761
• Equity at exit: $38,021

10-year hold

• IRR: 17.4%
• Equity multiple: 2.57×
• Total profit: $112,373
• Equity at exit: $22,048

Cash invested: $71,400 (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: 690
• Price-to-rent: 13.8×

Monthly cashflow live

• Estimated rent: $3,082 high
• Mortgage (P&I): −$1,337
• Tax from tax record: −$172 /mo · $2,069/yr
• Insurance: −$106
• HOA: −$0
• Vacancy / Maint / Mgmt: −$647
• Net cashflow: $819

Break-even live

Break-even rent $2,045

Max offer price $255,000

Occupancy floor 68%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,082
Total (2 units)			$3,082

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: $63,750
• Closing costs: $7,650
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4606 Francis Ct Granbury, TX	3.0	2.0	1300	$2,100	$1.62	43d	1	0.20mi
213 Dean Ct Granbury, TX	3.0	2.0	1372	$1,609	$1.17	2d	1	0.49mi
208 Bobbie Ann Ct Granbury, TX	3.0	2.0	1645	$1,675	$1.02	43d	1	0.50mi
4411 Bobbie Ann Dr Granbury, TX	3.0	2.0	1645	$1,650	$1.00	43d	1	0.57mi
107 Donna Cir Granbury, TX	3.0	2.0	1735	$2,400	$1.38	43d	1	0.59mi
4000 Sapphire Ln Granbury, TX	3.0	2.0	1635	$1,789	$1.09	2d	1	0.77mi
4700 Topaz Ln Granbury, TX	4.0	2.0	2022	$2,350	$1.16	7d	1	0.82mi
700 Rolling Terrace Cir Granbury, TX	3.0	2.0	1612	$1,774	$1.10	7d	1	0.82mi
100 Cardinal Woods Ct Granbury, TX	3.0	2.5	1980	$3,850	$1.94	43d	1	0.83mi
104 Cardinal Woods Ct Granbury, TX	3.0	2.5	1890	$3,850	$2.04	43d	1	0.84mi
110 Cardinal Woods Ct Granbury, TX	3.0	2.5	1980	$3,850	$1.94	43d	1	0.87mi
112 Cardinal Woods Ct Granbury, TX	3.0	2.5	1890	$3,850	$2.04	43d	1	0.88mi
211 S Cardinal Ct Granbury, TX	3.0	2.5	1980	$3,850	$1.94	43d	1	0.89mi
4720 Topaz Ln Granbury, TX	4.0	2.0	1903	$2,400	$1.26	24d	1	0.89mi
316 Sardius Blvd Granbury, TX	3.0	2.0	1686	$1,950	$1.16	7d	1	0.90mi
4816 Sapphire Ln Granbury, TX	4.0	2.0	1878	$2,400	$1.28	43d	1	1.06mi
2700 James Rd Granbury, TX	3.0	2.0	1295	$1,800	$1.39	24d	1	1.18mi
2705 Acton School Rd Granbury, TX	4.0	2.0	1390	$1,700	$1.22	16d	1	1.27mi
2705 Acton School Rd Granbury, TX	4.0	2.0	1390	$1,700	$1.22	24d	1	1.27mi

Listing history 9 events

1. 2026-06-18
   days on market $255,000 Active 13 DOM
2. 2026-06-17
   days on market $255,000 Active 12 DOM
3. 2026-06-16
   days on market $255,000 Active 11 DOM
4. 2026-06-15
   days on market $255,000 Active 10 DOM
5. 2026-06-13
   days on market $255,000 Active 8 DOM
6. 2026-06-09
   days on market $255,000 Active 4 DOM
7. 2026-06-08
   days on market $255,000 Active 3 DOM
8. 2026-06-07
   remarks 687-char remark
9. 2026-06-07
   listed $255,000 Active 2 DOM

ⓘ 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: $2,069 · $172/mo
• Projected year-2 tax: $4,666 · $389/mo
• Expected delta: +$2,598/yr (+$216/mo · 125.5%)

ⓘ 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 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: $36,984
• − Mortgage interest: −$14,284
• − Property taxes: −$2,069
• − Insurance: −$1,275
• − Repairs & maintenance: −$2,959
• − Management: −$2,959
• − Depreciation: −$7,418
• Taxable income: $6,020
• Est. tax owed @ 24.0%: −$1,445
• After-tax cash flow: $8,381/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

+140.6% since first listed

19 events — show timeline

• 2026-06-04 Listed $255,000 NTREIS
• 2026-04-15 Listing Removed — NTREIS
• 2026-01-06 Price Changed $258,000 NTREIS
• 2025-12-09 Relisted — NTREIS
• 2025-12-03 Contingent — NTREIS
• 2025-11-28 Price Changed $259,999 NTREIS
• 2025-11-20 Listed $260,000 NTREIS
• 2025-10-16 Listing Removed — NTREIS
• 2025-10-01 Relisted — NTREIS
• 2025-09-25 Contingent — NTREIS
• 2025-09-15 Relisted — NTREIS
• 2025-09-08 Contingent — NTREIS
• 2025-08-25 Relisted — NTREIS
• 2025-08-19 Contingent — NTREIS
• 2025-08-05 Listed $260,000 NTREIS
• 2009-01-07 Sold (MLS) — NTREIS
• 2009-01-06 Listing Removed — NTREIS
• 2008-01-22 Listed $106,000 NTREIS
• 2005-03-14 Sold (Public Records) — Public Records

Property tax history

+2.8%/yr

Latest (2025): $2,069 · -0.5% YoY. Source: county tax records.