1514 Hanover Ln · Van Alstyne, TX 75495

$349,900

4 bd · 2.5 ba · 3,020 sqft · SingleFamily public records · 65 Days on market

Built 2004 7,013 sqft lot $116/sqft · 11% below area Est $394k · 11% under $50/mo HOA · 2% of rent

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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 +12.6/15.0
• Cash flow +7.8/30.0
• Schools +5.3/10.0
• Livability +3.8/5.0
• 1% rule +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious value meets timeless potential in this 3,020 sq ft 4 bed 3 bath home. Offering room to live, grow and customize. Set in a neighborhood rich with community amenities, this property stands out for its generous size-and increasingly rare find at this value point. Mature trees frame the home, providing shade, character, and a sense of established charm. Inside, the layout offers great bones and flexible living spaces, ideal for modern updates while preserving its solid construction. Weather you're looking for room to spread out, entertain, or invest in a home with long-term upside, this property delivers exceptional square footage in a highly desirable community setting. Need an upstairs game room? Done! Need flex space downstairs? Done! All still while having 4 generously sized bedrooms. The backyard is a blank space waiting for your creative vision. Come take a look today. New updates include tree trimming, New carpet upstairs and new LVP flooring downstairs, and fresh interior paint.

Key facts

• Community amenities
• Upstairs game room
• Mature trees

Tags

• COMMUNITY AMENITIES
• MATURE TREES
• FLEXIBLE LIVING SPACES
• UPSTAIRS GAME ROOM

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $350k.

Deal economics

• At list price, monthly cash flow is $-391 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $281k (19.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $289k (17.3% below list).
• Recommended offer: $281k (19.7% below list) — sets the bar for cash-flow.
• Cap rate 5.0% vs local median 2.7% in Van Alstyne — 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 75/100 on livability (#134 in TX, #3,950 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities F, commute F, health & safety F.
• Van Alstyne ISD (rural): math 62% / reading 59% proficiency, ranked #51 of 826 in TX (top 6%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 627 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 2,272 units permitted in Grayson County in 2024 (750 in 5+ unit buildings).
• This rent runs 31% of the median local income ($112k/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 $10k 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.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($329k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 22y 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 wind risk, 26% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $280,896 (19.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 0.83% ✗
• Cap rate: 4.95%
• Cash-on-cash: -4.78%
• DSCR: 0.79
• GRM: 10.1

CMA / ARV

• ARV (median comp): $394,460
• List price: $349,900
• Delta: -11.30%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1524 Greenbrier Dr	0.13mi	4/2.5	2,894 (-4%)	3mo	$368,500	$127	84
1437 Red Clover Ave	0.23mi	4/3.0	2,978 (-1%)	3mo	$479,000	$161	82
321 Williamsburg Dr	0.17mi	4/2.5	3,148 (+4%)	6mo	$389,000	$124	80
609 Bonnie Rose Ln	0.25mi	4/3.0	2,944 (-2%)	6mo	$434,750	$148	77
1423 Foxglove Park	0.35mi	4/3.0	2,978 (-1%)	6mo	$489,695	$164	74
1417 Saint Johns Dr	0.21mi	4/2.5	2,727 (-10%)	1mo	$410,000	$150	74
1427 Golden Meadow Dr	0.30mi	4/3.0	2,773 (-8%)	1mo	$449,955	$162	69
1605 San Carlos Dr	0.28mi	4/2.5	2,688 (-11%)	2mo	$375,000	$140	67
506 Bryn Mawr Ln	0.18mi	4/3.0	2,641 (-12%)	3mo	$385,000	$146	66
611 Metallic Tree Ln	0.32mi	4/3.0	2,818 (-7%)	10mo	$455,000	$161	63
1438 Red Clover	0.26mi	4/3.0	2,695 (-11%)	8mo	$474,745	$176	62
517 Thompson Dr	0.37mi	4/3.5	2,597 (-14%)	1mo	$425,000	$164	55

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -24.3%
• Equity multiple: 0.17×
• Total profit: $-81,375
• Equity at exit: $52,171

10-year hold

• IRR: -19.5%
• Equity multiple: -0.04×
• Total profit: $-102,071
• Equity at exit: $30,253

Cash invested: $97,972 (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 75495

• Home prices YoY: -10.4%
• Active inventory: 627
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $2,894 high
• Mortgage (P&I): −$1,835
• Tax from tax record: −$646 /mo · $7,753/yr
• Insurance: −$146
• HOA: −$50
• Vacancy / Maint / Mgmt: −$608
• Net cashflow: $-391

Break-even live

Break-even rent $3,388

Max offer price $280,896

Occupancy floor —

Sensitivity live

Price	-10% $-193	-5% $-292	+0% $-391	+5% $-490	+10% $-589
Rent	-10% $-619	-5% $-505	+0% $-391	+5% $-276	+10% $-162
Rate	-1.0pp $-214	-0.5pp $-302	base $-391	+0.5pp $-481	+1.0pp $-574

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: $87,475
• Closing costs: $10,497
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1427 Hanover Ln Van Alstyne, TX	5.0	3.0	3689	$3,195	$0.87	45d	1	0.12mi
615 Metallic Tree Ln Van Alstyne, TX	4.0	3.0	2572	$2,550	$0.99	25d	1	0.34mi
135 E Fulton St Van Alstyne, TX	4.0	2.0	2232	$2,195	$0.98	12d	1	0.75mi
313 Hopson St Van Alstyne, TX	4.0	3.0	2178	$2,350	$1.08	45d	1	0.80mi
1840 Rosedale Ave Van Alstyne, TX	4.0	4.5	2628	$2,825	$1.07	3d	1	1.42mi
1840 Rosedale Ave Van Alstyne, TX	5.0	4.5	2687	$2,999	$1.12	16d	1	1.42mi

HOA detail

• Monthly dues: $50 · $600/yr

Listing history 30 events

1. 2026-06-21
   days on market $349,900 Active 65 DOM
2. 2026-06-18
   days on market $349,900 Active 62 DOM
3. 2026-06-17
   days on market $349,900 Active 61 DOM
4. 2026-06-16
   days on market $349,900 Active 60 DOM
5. 2026-06-15
   days on market $349,900 Active 59 DOM
6. 2026-06-13
   days on market $349,900 Active 57 DOM
7. 2026-06-13
   days on market $349,900 Active 56 DOM
8. 2026-06-09
   days on market $349,900 Active 53 DOM
9. 2026-06-08
   days on market $349,900 Active 52 DOM
10. 2026-06-07
    days on market $349,900 Active 51 DOM
11. 2026-06-04
    days on market $349,900 Active 48 DOM
12. 2026-06-03
    days on market $349,900 Active 47 DOM
13. 2026-06-02
    days on market $349,900 Active 46 DOM
14. 2026-06-01
    days on market $349,900 Active 45 DOM
15. 2026-05-31
    days on market $349,900 Active 44 DOM
16. 2026-04-17
    listed $359,999 Active 1006-char remark

    Show marketing remark (1006 chars)

    Spacious value meets timeless potential in this 3,020 sq ft 4 bed 3 bath home. Offering room to live, grow and customize. Set in a neighborhood rich with community amenities, this property stands out for its generous size-and increasingly rare find at this value point. Mature trees frame the home, providing shade, character, and a sense of established charm. Inside, the layout offers great bones and flexible living spaces, ideal for modern updates while preserving its solid construction. Weather you're looking for room to spread out, entertain, or invest in a home with long-term upside, this property delivers exceptional square footage in a highly desirable community setting. Need an upstairs game room? Done! Need flex space downstairs? Done! All still while having 4 generously sized bedrooms. The backyard is a blank space waiting for your creative vision. Come take a look today. New updates include tree trimming, New carpet upstairs and new LVP flooring downstairs, and fresh interior paint.

17. 2026-04-13
    historical
18. 2026-01-05
    listed $359,999 Active
19. 2025-12-02
    historical
20. 2025-10-18
    price $365,000
21. 2025-09-15
    listed $379,900 Active
22. 2018-07-31
    soldstatus
23. 2018-07-27
    soldstatus Sold
24. 2018-07-15
    status Pending
25. 2018-07-03
    historical Active Option Contract
26. 2018-06-18
    price $240,000
27. 2018-06-09
    listed $250,000 Active
28. 2005-01-07
    soldstatus
29. 2004-12-04
    historical
30. 2004-07-22
    listed $164,990

ⓘ 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: $7,753 · $646/mo
• Projected year-2 tax: $7,753 · $646/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 6/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥110°F today · 22 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 26% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $34,727
• − Mortgage interest: −$19,600
• − Property taxes: −$7,753
• − Insurance: −$1,750
• − Repairs & maintenance: −$2,778
• − Management: −$2,778
• − HOA: −$600
• − Depreciation: −$10,179
• Taxable loss: −$10,711
• Est. tax savings @ 24.0%: +$2,571
• After-tax cash flow: $-2,117/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: Van Alstyne ISD
• NCES district ID: 4843890
• Math proficiency: 62% ▼ -1.00%
• Reading proficiency: 59% ▼ -2.00%
• Median HH income: $68,451
• Composite: 53.28/100
• National rank: #1491
• State rank: #51 of 826 in TX

Livability — Van Alstyne

• Score: 75/100
• State rank: #134
• US rank: #3950

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Van Alstyne, TX
• County: Grayson County · 108,053 people
• City population: 11,120
• Metro: Sherman-Denison, TX
• Population (ZIP): 11,120
• Household income: $111,563
• Rent vs Own: 16.2% rent · 83.8% own
• Severe rent burden: 93.0

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 (70%)
• Race & ethnicity: White 70% Hispanic / Latino 20% Two or more races 15% Black 4%
• Hispanic origin (detail): Mexican 19%
• Common ancestry: Lithuanian 5% Slovak 3% Italian 2%
• Foreign-born: 9% · Canada
• Languages at home: 83% English-only · Spanish 15% Russian/Polish/Slavic 1% Tagalog/Filipino 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: ▼ -32.06%
• Current HPI: 274.6361
• Rent YoY: —
• 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

+118.2% since first listed

15 events — show timeline

• 2026-04-17 Listed $359,999 NTREIS
• 2026-04-13 Listing Removed — NTREIS
• 2026-01-05 Listed $359,999 NTREIS
• 2025-12-02 Listing Removed — NTREIS
• 2025-10-18 Price Changed $365,000 NTREIS
• 2025-09-15 Listed $379,900 NTREIS
• 2018-07-31 Sold (Public Records) — Public Records
• 2018-07-27 Sold (MLS) — NTREIS
• 2018-07-15 Pending — NTREIS
• 2018-07-03 Contingent — NTREIS
• 2018-06-18 Price Changed $240,000 NTREIS
• 2018-06-09 Listed $250,000 NTREIS
• 2005-01-07 Sold (MLS) — NTREIS
• 2004-12-04 Listing Removed — NTREIS
• 2004-07-22 Listed $164,990 NTREIS

Property tax history

+3.6%/yr

Latest (2025): $7,753 · +3.1% YoY. Source: county tax records.