1027 E Lamar St · Sherman, TX 75090

$120,000

4 bd · 1.0 ba · 1,437 sqft · SingleFamily public records · 52 Days on market

Built 1920 6,621 sqft lot $84/sqft · 40% below area Est $199k · 40% under

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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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.5/10.0
• Livability +3.1/5.0
• Schools +2.9/10.0
• Condition / age +2.5/5.0
• Rent growth +1.8/5.0
• Appreciation +0.0/10.0

Listing remarks

Investor special AS IS in the heart of Sherman, TX 75090, a rare opportunity to finish out a high potential project where the heavy lifting is already done. This 4 bedroom, 2 bath home with 2,093 sq ft sits on a 6,638 sq ft lot and is ready for your vision. Major upgrades are complete, including a new roof, professionally stabilized foundation, and newly built front porch, eliminating some of the biggest renovation expenses. The home is now in the finish out phase, allowing you to choose flooring, paint, and kitchen, bath finishes to maximize value. Electrical has a new board with partial rewiring, HVAC ductwork is in place with partial upstairs install, and plumbing has begun with drains

Key facts

• Hvac ductwork
• New roof
• Electrical new board

Tags

• NEW ROOF
• NEWLY BUILT FRONT PORCH
• ELECTRICAL NEW BOARD
• HVAC DUCTWORK
• PLUMBING DRAINS AND VENTS
• EASY ACCESS TO HWY 75

Property features AI

Finance

• Financial info: Listing accepts Cash, Conventional, FHA, and VA financing
• HOA & community: No homeowners association

Exterior

• Parking: Detached carport; 2 covered/carport spaces
• Utilities: City water; City sewer (sewer available); No municipal utility district
• Home design: Single-family residence; Residential property; Built in 1920; Entry on one level
• Construction: Shingle roof; Other construction materials; Slab foundation
• Exterior features: Covered front porch; Covered porch(es); Grassed yard; Corner lot

Interior

• Kitchen: No appliances listed
• Bedrooms: Primary bedroom on the main level; Total of 4 bedrooms
• Bathrooms: 2 full bathrooms
• Interior features: Open floorplan; One level
• Laundry & utility: Laundry on site

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $526 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $116k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.6% vs local median 3.7% in Sherman — 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 61/100 on livability (#1,027 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, employment C-, 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.
• Zoned schools: Dillingham El (837 students, 91% FRL) — zoned schools average 91% FRL vs 60% district-wide (32 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-2.7%/yr); 473 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% of comp listings sitting > 30 days — soft ceiling on asking rent; 2,272 units permitted in Grayson County in 2024 (750 in 5+ unit buildings).
• This rent runs 38% of the median local income ($56k/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 $830 of loan paydown is wiped out by about $4k 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 $34k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($116k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: 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 $116,400 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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: 1.45% ✓
• Cap rate: 11.55%
• Cash-on-cash: 18.78%
• DSCR: 1.84
• GRM: 5.8

CMA / ARV

• ARV (median comp): $198,765
• List price: $120,000
• Delta: -39.63%
• 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
1108 E Jones St	0.10mi	3/2.0 (-1)	1,336 (-7%)	9mo	$199,900	$150	68
415 S Charles St	0.20mi	3/2.0 (-1)	1,351 (-6%)	9mo	$180,000	$133	64
514 N Lee Ave	0.41mi	3/1.0 (-1)	1,532 (+7%)	1mo	$67,500	$44	64
906 S Willow St	0.54mi	3/2.0 (-1)	1,433 (-0%)	8mo	$197,900	$138	59
315 N Carr Ave	0.57mi	3/2.0 (-1)	1,377 (-4%)	6mo	$175,000	$127	53
527 S Gribble St	0.32mi	3/2.0 (-1)	1,240 (-14%)	7mo	$180,000	$145	47
424 S Maxey St	0.29mi	3/2.0 (-1)	1,247 (-13%)	10mo	$160,000	$128	47
1313 E Turley St	0.70mi	3/1.5 (-1)	1,494 (+4%)	10mo	$249,900	$167	45
703 N Cleveland Ave	0.60mi	3/3.0 (-1)	1,566 (+9%)	5mo	$180,000	$115	40
310 E Brockett St	0.70mi	3/2.5 (-1)	1,493 (+4%)	12mo	$249,000	$167	40
1000 E Epstein St	0.58mi	3/2.0 (-1)	1,265 (-12%)	11mo	$235,000	$186	35
1005 E Epstein St	0.55mi	3/2.0 (-1)	1,238 (-14%)	12mo	$199,000	$161	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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 7.1%
• Equity multiple: 1.27×
• Total profit: $8,995
• Equity at exit: $17,892

10-year hold

• IRR: 13.6%
• Equity multiple: 1.94×
• Total profit: $31,442
• Equity at exit: $10,375

Cash invested: $33,600 (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 75090

• Home prices YoY: -20.0%
• Rents YoY: -2.7%
• Active inventory: 473
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,736 high
• Mortgage (P&I): −$629
• Tax from tax record: −$167 /mo · $1,999/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$365
• Net cashflow: $526

Break-even live

Break-even rent $1,071

Max offer price $120,000

Occupancy floor 65%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1201 E Lamar St Sherman, TX	3.0	2.0	1726	$1,995	$1.16	43d	1	0.09mi
902 E Cherry St Sherman, TX	3.0	1.0	1530	$1,400	$0.92	43d	1	0.17mi
1014 E Pecan St Sherman, TX	3.0	2.0	1340	$1,900	$1.42	43d	1	0.19mi
108 N Cleveland Ave Sherman, TX	3.0	1.5	1060	$1,200	$1.13	43d	1	0.35mi
815 S Willow St Sherman, TX	4.0	2.0	1670	$1,495	$0.90	43d	1	0.46mi
1429 E Odneal St Sherman, TX	3.0	2.0	1218	$1,700	$1.40	43d	1	0.49mi
822 S Throckmorton St Sherman, TX	3.0	2.0	1288	$1,350	$1.05	43d	1	0.53mi
615 N Cleveland Ave #617 Sherman, TX	3.0	2.0	1316	$1,600	$1.22	43d	1	0.59mi
514 E Brockett St Unit 514 Sherman, TX	4.0	4.5	1800	$1,800	$1.00	43d	1	0.61mi
609 E Carter St Sherman, TX	3.0	2.0	1230	$1,450	$1.18	21d	1	0.62mi
607 E Carter St Unit 609 Sherman, TX	3.0	2.0	1230	$1,450	$1.18	21d	1	0.64mi
217 N Burdette Ave Sherman, TX	3.0	1.0	1288	$1,400	$1.09	43d	1	0.64mi
608 E College St Unit 608 Sherman, TX	3.0	2.0	1230	$1,325	$1.08	21d	1	0.66mi
706 N Harrison Ave Ste 100 Sherman, TX	3.0	2.5	1350	$1,395	$1.03	21d	1	0.66mi
614 E College St Sherman, TX	3.0	2.0	1238	$1,400	$1.13	21d	1	0.68mi
1124 S Hazelwood St Sherman, TX	3.0	2.0	1347	$1,650	$1.22	43d	1	0.69mi
916 N Throckmorton St Sherman, TX	3.0	2.0	1259	$1,400	$1.11	21d	1	0.71mi
1338 McCall St Sherman, TX	3.0	2.0	1248	$1,525	$1.22	43d	1	0.74mi
301 E Brockett St Unit 100 Sherman, TX	4.0	4.0	1169	$1,400	$1.20	43d	1	0.76mi
823 N Branch St Sherman, TX	3.0	2.0	1357	$1,650	$1.22	21d	1	0.76mi
422 N Elliott St Sherman, TX	3.0	2.5	1500	$1,650	$1.10	21d	1	0.87mi
913 N Brents Ave Sherman, TX	3.0	2.5	1419	$1,500	$1.06	43d	1	0.90mi
815 N Travis St Sherman, TX	3.0	2.0	1536	$1,550	$1.01	21d	1	0.90mi
1014 N Brents Ave #1012 Sherman, TX	3.0	2.0	1208	$1,350	$1.12	43d	1	0.93mi
1110 N Ross Ave Sherman, TX	3.0	2.0	1377	$1,750	$1.27	21d	1	0.93mi
1121 Patricia Dr Sherman, TX	3.0	2.0	1472	$1,450	$0.99	21d	1	0.97mi
1402 S Montgomery St Sherman, TX	3.0	2.0	1160	$1,399	$1.21	43d	1	1.10mi
609 E McGee St Unit 609 Sherman, TX	4.0	2.5	1600	$1,800	$1.12	43d	1	1.14mi
1509 Fairway Dr Sherman, TX	3.0	2.0	1510	$1,664	$1.10	21d	1	1.16mi
1610 Linda Dr Sherman, TX	3.0	2.0	1500	$1,714	$1.14	21d	1	1.16mi
1312 N Travis St Sherman, TX	3.0	1.5	1086	$1,325	$1.22	43d	1	1.19mi
524-526 N Woods St Sherman, TX	3.0	2.0	1454	$1,445	$0.99	43d	1	1.24mi
817 W Lamar St Sherman, TX	3.0	2.0	1074	$1,495	$1.39	43d	1	1.27mi
417 W Dulin St Unit 417 Sherman, TX	3.0	2.0	1386	$1,850	$1.33	43d	1	1.30mi
419 W Dulin St Unit 419 Sherman, TX	3.0	2.0	1386	$1,850	$1.33	43d	1	1.30mi
822 W Fischer St Sherman, TX	3.0	1.0	1256	$1,350	$1.07	21d	1	1.34mi
214 N Ricketts St Sherman, TX	3.0	2.0	1211	$1,550	$1.28	43d	1	1.34mi
208 E Lake Ave Sherman, TX	3.0	2.5	1238	$1,445	$1.17	43d	1	1.36mi
930 W Freeman St Sherman, TX	3.0	2.0	1222	$1,499	$1.23	21d	1	1.36mi
1415 S Austin St Sherman, TX	3.0	1.0	1027	$1,180	$1.15	21d	1	1.39mi

Listing history 18 events

1. 2026-06-19
   days on market $120,000 Active 52 DOM
2. 2026-06-18
   days on market $120,000 Active 51 DOM
3. 2026-06-17
   days on market $120,000 Active 50 DOM
4. 2026-06-16
   days on market $120,000 Active 49 DOM
5. 2026-06-15
   days on market $120,000 Active 48 DOM
6. 2026-06-14
   days on market $120,000 Active 46 DOM
7. 2026-06-13
   days on market $120,000 Active 45 DOM
8. 2026-06-10
   days on market $120,000 Active 43 DOM
9. 2026-06-09
   days on market $120,000 Active 42 DOM
10. 2026-06-08
    days on market $120,000 Active 41 DOM
11. 2026-06-07
    days on market $120,000 Active 40 DOM
12. 2026-06-03
    days on market $120,000 Active 36 DOM
13. 2026-06-02
    days on market $120,000 Active 35 DOM
14. 2026-06-01
    days on market $120,000 Active 34 DOM
15. 2026-05-31
    days on market $120,000 Active 33 DOM
16. 2026-05-30
    days on market $120,000 Active 32 DOM
17. 2026-04-28
    listed $120,000 Active 1350-char remark
18. 2024-01-11
    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: $1,999 · $167/mo
• Projected year-2 tax: $2,196 · $183/mo
• Expected delta: +$197/yr (+$16/mo · 9.8%)

ⓘ 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 6/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥108°F today · 22 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 20% 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: $20,837
• − Mortgage interest: −$6,722
• − Property taxes: −$1,999
• − Insurance: −$600
• − Repairs & maintenance: −$1,667
• − Management: −$1,667
• − Depreciation: −$3,491
• Taxable income: $4,691
• Est. tax owed @ 24.0%: −$1,126
• After-tax cash flow: $5,185/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: 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 — Sherman

• Score: 61/100
• State rank: #1027
• US rank: #18243

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sherman, TX
• County: Grayson County · 108,053 people
• City population: 54,936
• Metro: Sherman-Denison, TX
• Population (ZIP): 26,594
• Household income: $55,543
• Rent vs Own: 42.8% rent · 57.2% own
• Severe rent burden: 840.0

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: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: White 49% Hispanic / Latino 32% Two or more races 17% Black 11%
• Hispanic origin (detail): Mexican 26%
• Common ancestry: Slovak 2% Romanian 2% Lithuanian 1%
• Foreign-born: 15% · Canada
• Languages at home: 73% English-only · Spanish 24% German/W. Germanic 1% 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: ▼ -69.00%
• Current HPI: 276.5739
• Rent YoY: ▼ -2.70%
• 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

2 events — show timeline

• 2026-04-28 Listed $120,000 NTREIS
• 2024-01-11 Sold (Public Records) — Public Records

Property tax history

+5.4%/yr

Latest (2025): $1,999 · -2.4% YoY. Source: county tax records.