115 Collins Dr · Knollwood, TX 75092

$60,000

2 bd · 2.0 ba · 960 sqft · Other · 31 Days on market

Built 2023 Good condition

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Condition / age +3.8/5.0
• Schools +2.9/10.0
• Livability +2.9/5.0
• Rent growth +1.9/5.0
• Appreciation +0.0/10.0

Listing remarks

Well-maintained 2023 single wide manufactured home offering 2 bedrooms and 2 bathrooms with a bright, open floor plan filled with natural light. Exterior features include a ramp for easy access, while inside you & acirc; & euro; & trade; ll find a functional layout with split bedrooms for added privacy. The eat-in kitchen includes a pantry and flows seamlessly into the living area, ideal for everyday living. The spacious primary suite offers double sinks, a large walk-in closet, and a shower with handrails for added support. A generously sized utility room with a door leading to the backyard adds convenience and flexibility. Located in Knollwood Mobile Home Park, this is a land-

Key facts

• Ramp for easy access
• Pantry
• Living area

Tags

• RAMP FOR EASY ACCESS
• FUNCTIONAL LAYOUT
• SPLIT BEDROOMS
• EAT-IN KITCHEN
• PANTRY
• LIVING AREA

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath other listed at $60k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $679 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $58k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 57/100 on livability (#1,276 in TX) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: schools D-, crime F, 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.
• Market conditions: Rents soft (-2.4%/yr); 638 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $415 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($58k) is reasonable based on typical stale-listing flexibility.

Recommended offer $58,200 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. Crime grade is F 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?
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: 2.31% ✓
• Cap rate: 19.87%
• Cash-on-cash: 48.51%
• DSCR: 3.16
• GRM: 3.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 42.6%
• Equity multiple: 2.76×
• Total profit: $29,492
• Equity at exit: $8,946

10-year hold

• IRR: 47.3%
• Equity multiple: 4.92×
• Total profit: $65,779
• Equity at exit: $5,188

Cash invested: $16,800 (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: 638
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $1,384 high
• Mortgage (P&I): −$315
• Tax est. 1.5%: −$75 /mo · $900/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$291
• Net cashflow: $679

Break-even live

Break-even rent $525

Max offer price $60,000

Occupancy floor 46%

Sensitivity live

Price	-10% $721	-5% $700	+0% $679	+5% $658	+10% $638
Rent	-10% $570	-5% $624	+0% $679	+5% $734	+10% $788
Rate	-1.0pp $709	-0.5pp $694	base $679	+0.5pp $664	+1.0pp $648

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
73 Cannon Ln Knollwood, TX	3.0	2.0	1116	$1,300	$1.16	44d	1	0.10mi
5111 N Travis St Sherman, TX	1.0–2.0	1.0–2.0	859	$1,075	$1.25	22d	18	0.16mi
4901 Knollwood Dr Knollwood, TX	1.0–2.0	1.0–2.0	834	$1,665	$2.00	22d	5	0.18mi
601 Graham Dr Sherman, TX	1.0–3.0	1.0–2.0	1119	$1,818	$1.62	22d	68	0.39mi
211 E Canyon Grove Rd Knollwood, TX	1.0–3.0	1.0–2.0	953	$1,335	$1.40	22d	10	0.77mi
1111 Gallagher Dr Sherman, TX	2.0	1.0–2.0	1050	$1,714	$1.63	22d	26	1.11mi

Listing history 18 events

1. 2026-06-21
   days on market $60,000 Active 31 DOM
2. 2026-06-19
   days on market $60,000 Active 29 DOM
3. 2026-06-18
   days on market $60,000 Active 28 DOM
4. 2026-06-17
   days on market $60,000 Active 27 DOM
5. 2026-06-16
   days on market $60,000 Active 26 DOM
6. 2026-06-15
   days on market $60,000 Active 25 DOM
7. 2026-06-14
   days on market $60,000 Active 23 DOM
8. 2026-06-13
   days on market $60,000 Active 22 DOM
9. 2026-06-10
   days on market $60,000 Active 20 DOM
10. 2026-06-09
    days on market $60,000 Active 19 DOM
11. 2026-06-08
    days on market $60,000 Active 18 DOM
12. 2026-06-07
    days on market $60,000 Active 17 DOM
13. 2026-06-03
    days on market $60,000 Active 13 DOM
14. 2026-06-02
    days on market $60,000 Active 12 DOM
15. 2026-06-01
    days on market $60,000 Active 11 DOM
16. 2026-05-31
    days on market $60,000 Active 10 DOM
17. 2026-05-30
    days on market $60,000 Active 9 DOM
18. 2026-05-22
    listed $60,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $16,614
• − Mortgage interest: −$3,361
• − Property taxes: −$900
• − Insurance: −$300
• − Repairs & maintenance: −$1,329
• − Management: −$1,329
• − Depreciation: −$1,745
• Taxable income: $7,649
• Est. tax owed @ 24.0%: −$1,836
• After-tax cash flow: $6,313/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.

Condition & rehab AI · 1 photo

Good 75/100 Cosmetic rehab

This 2023 single-wide manufactured home is in good condition with a functional layout and fresh paint. It offers a bright, open floor plan and split bedrooms for added privacy. The home is located in Knollwood Mobile Home Park and is ready for a fresh coat of paint and some minor updates to enhance its resale and rental value.

Value-add opportunities

• Both Painting — Fresh paint enhances curb appeal and interior aesthetics.
• Both Ceiling fan maintenance — A clean and functional ceiling fan improves comfort and energy efficiency.
• Both Landscaping — Landscaping can significantly improve curb appeal and property value.
• Both Window treatments — Window treatments can enhance privacy and add a finished look to the home.
• Both Kitchen appliances — Upgrading appliances can increase the home's appeal and value.
• Both Bathroom fixtures — Updating fixtures can improve functionality and aesthetics in the bathrooms.
• Both Flooring — Replacing or repairing flooring can enhance the home's overall appearance and value.
• Both HVAC system maintenance — A clean and efficient HVAC system improves comfort and energy efficiency, both of which are important for resale and rental value.
• Both Exterior lighting — Well-placed exterior lighting can improve curb appeal and safety, both of which are important for resale and rental value.
• Both Landscaping and curb appeal — A well-maintained and attractive exterior can significantly increase the home's resale and rental value.
• Both Kitchen and bathroom updates — Updating the kitchen and bathrooms can significantly increase the home's resale and rental value by improving functionality and aesthetics.
• Both Painting and minor repairs — Painting and addressing minor repairs can enhance the home's overall appearance and value, making it more attractive to potential buyers or renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting — Fresh paint enhances curb appeal and interior aesthetics. ↑
• Both Ceiling fan maintenance — A clean and functional ceiling fan improves comfort and energy efficiency. ↑
• Both Landscaping — Landscaping can significantly improve curb appeal and property value. ↑
• Both Window treatments — Window treatments can enhance privacy and add a finished look to the home. ↑
• Both Kitchen appliances — Upgrading appliances can increase the home's appeal and value. ↑
• Both Bathroom fixtures — Updating fixtures can improve functionality and aesthetics in the bathrooms. ↑
• Both Flooring — Replacing or repairing flooring can enhance the home's overall appearance and value. ↑
• Both HVAC system maintenance — A clean and efficient HVAC system improves comfort and energy efficiency, both of which are important for resale and rental value. ↑
• Both Exterior lighting — Well-placed exterior lighting can improve curb appeal and safety, both of which are important for resale and rental value. ↑
• Both Landscaping and curb appeal — A well-maintained and attractive exterior can significantly increase the home's resale and rental value. ↑
• Both Kitchen and bathroom updates — Updating the kitchen and bathrooms can significantly increase the home's resale and rental value by improving functionality and aesthetics. ↑
• Both Painting and minor repairs — Painting and addressing minor repairs can enhance the home's overall appearance and value, making it more attractive to potential buyers or renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — Knollwood

• Score: 57/100
• State rank: #1276
• US rank: #22189

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Knollwood, TX
• County: Grayson County · 108,053 people
• 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

1 event — show timeline

• 2026-05-22 Listed $60,000 FSBO.com