802 N Sherman St · Ennis, TX 75119

$259,000

20 bd · 16.0 ba · 2,958 sqft · MultiFamily public records · 63 Days on market

Built 1940 8,276 sqft lot $88/sqft · at area comps Est $255k · at est. ↓ 8% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +6.8/15.0
• Livability +3.6/5.0
• Schools +3.4/10.0
• Rent growth +3.2/5.0
• 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: 4 units. confirmed

Listing remarks MLS

Lots of potential in this fourplex located in the growing area of Ennis. Close to restaurants, shopping, and everything Ennis has to offer. There is an opportunity to improve and increase rents, or continue to rent as-is.

Key facts

• Close to restaurants
• Close to shopping
• 8,276 sq ft lot

Tags

• CLOSE TO RESTAURANTS
• CLOSE TO SHOPPING

What this means for you Summary

Snapshot

• This is a 4 × 5-bed/4.0-bath units multifamily listed at $259k.

Deal economics

• At list price, monthly cash flow is $4k ($49k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $259k).
• Recommended offer: $243k (6.0% below list) — sets the bar for market timing.
• Cap rate 25.4% vs local median 4.5% in Ennis — 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 71/100 on livability (#304 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: schools D-, amenities F, commute F.
• Ennis ISD (rural): math 41% / reading 39% proficiency, ranked #411 of 826 in TX (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+3.0%/yr); 363 active listings in the ZIP; solid renter incomes; 3,016 units permitted in Ellis County in 2024 (20 in 5+ unit buildings).
• At $8,058/mo this rent would consume 125% of the median local household income ($77k/yr) (locally 784% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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.
• Ellis County population projected at +36% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $73k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 63 days — a 6% lower offer ($243k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 4y 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

• Watch-outs: property tax is 3.6% of price; built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 6→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $243,460 (6.0% below list)

Questions for the listing agent

1. It's been on market 63 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. 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: 3.11% ✓
• Cap rate: 25.36%
• Cash-on-cash: 68.08%
• DSCR: 4.03
• GRM: 2.7

CMA / ARV

• ARV (median comp): $255,202
• List price: $259,000
• Delta: 1.49%
• Verdict: FAIR
• Comps: 6 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.95% rent growth · sell at horizon

5-year hold

• IRR: 67.5%
• Equity multiple: 4.03×
• Total profit: $220,084
• Equity at exit: $38,618

10-year hold

• IRR: 71.6%
• Equity multiple: 8.30×
• Total profit: $529,066
• Equity at exit: $22,394

Cash invested: $72,520 (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 75119

• Rents YoY: 3.0%
• Active inventory: 363
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $8,058 medium
• Mortgage (P&I): −$1,358
• Tax from tax record: −$785 /mo · $9,422/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,692
• Net cashflow: $4,114

Break-even live

Break-even rent $2,850

Max offer price $259,000

Occupancy floor 44%

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

Units	Beds	Baths	Est. rent
▸ 4× units	5	4	$8,060
Total (4 units)			$8,058

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: $64,750
• Closing costs: $7,770
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-03-24
   listed $259,000 Active 221-char remark

   Show marketing remark (221 chars)

   Lots of potential in this fourplex located in the growing area of Ennis. Close to restaurants, shopping, and everything Ennis has to offer. There is an opportunity to improve and increase rents, or continue to rent as-is.

2. 2025-12-31
   historical
3. 2025-11-30
   price $269,900
4. 2025-07-07
   price $279,900
5. 2025-06-19
   price $299,900
6. 2025-06-18
   status Active
7. 2025-06-16
   historical Active Option Contract
8. 2025-05-05
   price $309,000
9. 2024-08-21
   price $339,000
10. 2024-06-22
    listed $359,000 Active
11. 2024-05-31
    historical
12. 2024-04-08
    price $385,000
13. 2024-04-08
    status Active
14. 2024-03-17
    historical
15. 2024-02-28
    price $405,000
16. 2024-01-10
    listed $415,000 Active
17. 2022-03-02
    status Pending
18. 2022-02-24
    price $755
19. 2022-02-22
    soldstatus
20. 2022-02-18
    soldstatus Closed
21. 2022-02-18
    soldstatus
22. 2022-01-21
    status Pending
23. 2022-01-14
    historical Active Option Contract
24. 2022-01-07
    listed $280,000 Active
25. 2022-01-06
    listed $280,000
26. 2000-02-10
    soldstatus
27. 1987-10-29
    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: $9,422 · $785/mo
• Projected year-2 tax: $9,422 · $785/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 4/10 Moderate
• 🌡 Heat 7/10 Severe 6 d/yr ≥109°F today · 22 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $96,696
• − Mortgage interest: −$14,508
• − Property taxes: −$9,422
• − Insurance: −$1,295
• − Repairs & maintenance: −$7,736
• − Management: −$7,736
• − Depreciation: −$7,535
• Taxable income: $48,465
• Est. tax owed @ 24.0%: −$11,632
• After-tax cash flow: $37,742/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: Ennis ISD
• NCES district ID: 4818540
• Math proficiency: 41% ▼ -6.00%
• Reading proficiency: 39% ▼ -3.00%
• Median HH income: $46,105
• Composite: 34.14/100
• National rank: #5283
• State rank: #411 of 826 in TX

Livability — Ennis

• Score: 71/100
• State rank: #304
• US rank: #6893

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ennis, TX
• County: Ellis County · 199,237 people
• City population: 31,866
• Metro: Dallas-Fort Worth-Arlington, TX
• Population (ZIP): 31,866
• Household income: $77,053
• Rent vs Own: 31.1% rent · 68.9% own
• Severe rent burden: 784.0

Population outlook (Ellis County) Hauer SSP2

• Today (2025): 194,556 people
• By 2030: 209,679 · +7.8%
• By 2040: 238,837 · +22.8%
• By 2050: 265,451 · +36.4%
• By 2075: 326,571 · +67.9%
• By 2100: 362,156 · +86.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 47% Hispanic / Latino 41% Two or more races 13% Black 9%
• Hispanic origin (detail): Mexican 37%
• Common ancestry: Slovak 1% Serbian 1% Italian 1%
• Foreign-born: 15% · Canada
• Languages at home: 69% English-only · Spanish 29% Other Indo-European 1%

Political lean MEDSL · Ellis

• 2024 margin: Solid R (+31.1) · D 34.0% · R 65.1%
• 2008→2024 swing: +11.2pp toward D · 2008: -42.2pp · 2024: -31.1pp
• All cycles: 2024: R+31.1 2020: R+34.1 2016: R+45.4 2012: R+47.5 2008: R+42.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -207.30%
• Current HPI: 253.0134
• Rent YoY: ▲ 2.95%
• Metro: Dallas-Fort Worth-Arlington, 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

-7.5% since first listed

27 events — show timeline

• 2026-03-24 Listed $259,000 NTREIS
• 2025-12-31 Listing Removed — NTREIS
• 2025-11-30 Price Changed $269,900 NTREIS
• 2025-07-07 Price Changed $279,900 NTREIS
• 2025-06-19 Price Changed $299,900 NTREIS
• 2025-06-18 Relisted — NTREIS
• 2025-06-16 Contingent — NTREIS
• 2025-05-05 Price Changed $309,000 NTREIS
• 2024-08-21 Price Changed $339,000 NTREIS
• 2024-06-22 Listed $359,000 NTREIS
• 2024-05-31 Listing Removed — NTREIS
• 2024-04-08 Price Changed $385,000 NTREIS
• 2024-04-08 Relisted — NTREIS
• 2024-03-17 Listing Removed — NTREIS
• 2024-02-28 Price Changed $405,000 NTREIS
• 2024-01-10 Listed $415,000 NTREIS
• 2022-03-02 Pending — NTREIS
• 2022-02-24 Price Changed $755 RENT.
• 2022-02-22 Sold (Public Records) — Public Records
• 2022-02-18 Sold (MLS) — NTREIS
• 2022-02-18 Sold (MLS) — NTREIS
• 2022-01-21 Pending — NTREIS
• 2022-01-14 Contingent — NTREIS
• 2022-01-07 Listed $280,000 NTREIS
• 2022-01-06 Listed $280,000 NTREIS
• 2000-02-10 Sold (Public Records) — Public Records
• 1987-10-29 Sold (Public Records) — Public Records

Property tax history

+12.9%/yr

Latest (2025): $9,422 · +18.5% YoY. Source: county tax records.