203 Harbor View Ct · Granbury, TX 76048

$239,000

3 bd · 2.0 ba · 1,344 sqft · Manufactured public records · 111 Days on market

Built 1986 8,494 sqft lot $178/sqft · 18% below area Est $290k · 18% under $21/mo HOA · 1% of rent ↓ 10% since listing

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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 +15.0/15.0
• Cash flow +9.8/30.0
• Schools +4.0/10.0
• Livability +3.3/5.0
• DSCR +2.8/10.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to the Brazos Harbor community in the heart of Granbury, where you are a walk or boat away from all things Granbury. This neighborhood is a serene, well maintained and manicured, ready for peaceful living. This 3-bedroom 2 bath home has been updated and move in ready. The open concept provides plenty of room and light leading into the new kitchen, utility room and screened in back patio. The patio is waiting for you to enjoy your morning coffee or afternoon nap. The property has one of the largest lots in the subdivision and provides so much room for entertaining. It is completed with a two-sided carport for your car, boat, etc and a storage building for all your toys. Lots of additional parking on the cul-de-sac for guest and the community provides a boat ramp, fishing dock, and park for your family gatherings. Whether you are looking for a weekend retreat or full-time lake living Brazos Harbor welcomes you

Key facts

• New kitchen
• Storage building
• Largest lots

Tags

• BRAZOS HARBOR COMMUNITY
• NEW KITCHEN
• SCREENED IN BACK PATIO
• LARGEST LOTS
• TWO-SIDED CARPORT
• STORAGE BUILDING

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $239k.

Deal economics

• At list price, monthly cash flow is $-220 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $200k (16.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $178k (25.5% below list).
• Recommended offer: $178k (25.5% below list) — sets the bar for 1% rule.
• Cap rate 5.5% 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+, schools D.
• 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.
• Market conditions: Rents rising (+1.1%/yr); 929 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; 125 units permitted in Hood County in 2024 (0 in 5+ unit buildings).
• This rent runs 30% of the median local income ($70k/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 $7k 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.

Negotiation context

• It's been on market 111 days — a 9% lower offer ($217k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $17k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $177,976 (25.5% 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 111 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 0.74% ✗
• Cap rate: 5.52%
• Cash-on-cash: -2.76%
• DSCR: 0.88
• GRM: 11.2

CMA / ARV

• ARV (median comp): $290,259
• List price: $239,000
• Delta: -17.66%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.1% rent growth · sell at horizon

5-year hold

• IRR: -25.0%
• Equity multiple: 0.16×
• Total profit: $-56,088
• Equity at exit: $35,636

10-year hold

• IRR: -27.7%
• Equity multiple: -0.20×
• Total profit: $-80,053
• Equity at exit: $20,664

Cash invested: $66,920 (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 76048

• Home prices YoY: -23.4%
• Rents YoY: 1.1%
• Active inventory: 929
• Price-to-rent: 11.2×

Monthly cashflow live

• Estimated rent: $1,780 high
• Mortgage (P&I): −$1,253
• Tax from tax record: −$186 /mo · $2,231/yr
• Insurance: −$100
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$21
• Vacancy / Maint / Mgmt: −$374
• Net cashflow: $-220

Break-even live

Break-even rent $2,059

Max offer price $200,080

Occupancy floor —

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: $59,750
• Closing costs: $7,170
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1000 Quiet Cv Granbury, TX	1.0–2.0	1.0–2.0	841	$1,700	$2.02	1d	29	0.23mi
1220 Crawford Ct Granbury, TX	1.0–2.0	1.0–2.0	968	$1,739	$1.80	1d	12	0.46mi
800 Chanel Dr Granbury, TX	1.0–2.0	1.0–2.0	1029	$1,948	$1.89	1d	10	0.48mi
400 E Pearl St Granbury, TX	2.0	2.0	1170	$1,450	$1.24	43d	1	0.52mi
400 E Pearl St Apt 108 Granbury, TX	2.0	2.0	1200	$1,450	$1.21	24d	1	0.52mi
105 W Doyle St Granbury, TX	2.0	1.0	980	$1,675	$1.71	17d	1	0.81mi
1111 Dove Hollow Rd Granbury, TX	3.0	2.0	1789	$2,399	$1.34	43d	1	0.82mi
1010 Dawn Ct Granbury, TX	2.0	2.0	1080	$1,750	$1.62	43d	1	0.92mi
316 W Rucker St Granbury, TX	3.0	2.0	1219	$2,100	$1.72	43d	1	0.92mi
1010 Teresa Ct Granbury, TX	2.0	2.0	1205	$1,600	$1.33	24d	1	0.92mi
1525 E 2nd St Granbury, TX	2.0	2.0	889	$1,150	$1.29	7d	1	0.93mi
1017 Meadowlark Ln Granbury, TX	3.0	2.0	1725	$2,300	$1.33	12d	1	0.99mi
1627 Summerhill Ct Granbury, TX	2.0	2.0	1050	$1,450	$1.38	43d	1	1.02mi
814 W Bridge St Granbury, TX	3.0	1.5	1360	$1,695	$1.25	43d	1	1.23mi
1114 Thorpe Springs Rd Granbury, TX	2.0	1.0	920	$1,500	$1.63	7d	1	1.25mi
902 W Bridge St Granbury, TX	2.0	1.0	1375	$1,695	$1.23	2d	1	1.26mi
907 W Bridge St Granbury, TX	3.0	1.5	1161	$1,700	$1.46	43d	1	1.28mi
1713 Bronco Rd Granbury, TX	4.0	2.5	1520	$1,800	$1.18	7d	1	1.32mi
900 Elizabeth Blvd Granbury, TX	3.0	1.0	1112	$1,500	$1.35	43d	1	1.39mi

HOA detail

• Monthly dues: $21 · $252/yr

Listing history 22 events

1. 2026-06-18
   days on market $239,000 Active 111 DOM
2. 2026-06-17
   days on market $239,000 Active 110 DOM
3. 2026-06-16
   days on market $239,000 Active 109 DOM
4. 2026-06-15
   days on market $239,000 Active 108 DOM
5. 2026-06-13
   days on market $239,000 Active 106 DOM
6. 2026-06-09
   days on market $239,000 Active 102 DOM
7. 2026-06-08
   days on market $239,000 Active 101 DOM
8. 2026-06-07
   days on market $239,000 Active 100 DOM
9. 2026-06-04
   days on market $239,000 Active 97 DOM
10. 2026-06-03
    days on market $239,000 Active 96 DOM
11. 2026-06-02
    days on market $239,000 Active 95 DOM
12. 2026-06-02
    days on market $239,000 Active 94 DOM
13. 2026-05-31
    days on market $239,000 Active 93 DOM
14. 2026-05-14
    price $239,000 934-char remark

    Show marketing remark (934 chars)

    Welcome to the Brazos Harbor community in the heart of Granbury, where you are a walk or boat away from all things Granbury. This neighborhood is a serene, well maintained and manicured, ready for peaceful living. This 3-bedroom 2 bath home has been updated and move in ready. The open concept provides plenty of room and light leading into the new kitchen, utility room and screened in back patio. The patio is waiting for you to enjoy your morning coffee or afternoon nap. The property has one of the largest lots in the subdivision and provides so much room for entertaining. It is completed with a two-sided carport for your car, boat, etc and a storage building for all your toys. Lots of additional parking on the cul-de-sac for guest and the community provides a boat ramp, fishing dock, and park for your family gatherings. Whether you are looking for a weekend retreat or full-time lake living Brazos Harbor welcomes you

15. 2026-04-09
    price $248,000 934-char remark

    Show marketing remark (934 chars)

    Welcome to the Brazos Harbor community in the heart of Granbury, where you are a walk or boat away from all things Granbury. This neighborhood is a serene, well maintained and manicured, ready for peaceful living. This 3-bedroom 2 bath home has been updated and move in ready. The open concept provides plenty of room and light leading into the new kitchen, utility room and screened in back patio. The patio is waiting for you to enjoy your morning coffee or afternoon nap. The property has one of the largest lots in the subdivision and provides so much room for entertaining. It is completed with a two-sided carport for your car, boat, etc and a storage building for all your toys. Lots of additional parking on the cul-de-sac for guest and the community provides a boat ramp, fishing dock, and park for your family gatherings. Whether you are looking for a weekend retreat or full-time lake living Brazos Harbor welcomes you

16. 2026-02-27
    listed $256,000 Active 934-char remark

    Show marketing remark (934 chars)

    Welcome to the Brazos Harbor community in the heart of Granbury, where you are a walk or boat away from all things Granbury. This neighborhood is a serene, well maintained and manicured, ready for peaceful living. This 3-bedroom 2 bath home has been updated and move in ready. The open concept provides plenty of room and light leading into the new kitchen, utility room and screened in back patio. The patio is waiting for you to enjoy your morning coffee or afternoon nap. The property has one of the largest lots in the subdivision and provides so much room for entertaining. It is completed with a two-sided carport for your car, boat, etc and a storage building for all your toys. Lots of additional parking on the cul-de-sac for guest and the community provides a boat ramp, fishing dock, and park for your family gatherings. Whether you are looking for a weekend retreat or full-time lake living Brazos Harbor welcomes you

17. 2025-12-14
    historical
18. 2025-09-05
    listed $267,000 Active
19. 2015-09-29
    soldstatus
20. 2008-02-29
    soldstatus
21. 2008-02-29
    soldstatus
22. 1997-05-29
    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: $2,231 · $186/mo
• Projected year-2 tax: $4,374 · $364/mo
• Expected delta: +$2,142/yr (+$179/mo · 96.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (shaded) · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥108°F today · 24 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: $21,357
• − Mortgage interest: −$13,388
• − Property taxes: −$2,231
• − Insurance: −$1,992
• − Repairs & maintenance: −$1,709
• − Management: −$1,709
• − HOA: −$252
• − Depreciation: −$6,953
• Taxable loss: −$6,876
• Est. tax savings @ 24.0%: +$1,650
• After-tax cash flow: $-993/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

• Census place: Granbury, TX
• County: Hood County · 58,506 people
• Metro: Granbury, TX
• Population (ZIP): 27,000
• Household income: $70,346
• Rent vs Own: 26.4% rent · 73.6% own
• Severe rent burden: 612.0

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 (80%)
• Race & ethnicity: White 80% Hispanic / Latino 14% Two or more races 11% Black 1%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Italian 2% Slovak 2% Portuguese 1%
• Foreign-born: 4% · Canada
• Languages at home: 89% English-only · Spanish 10%

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: ▼ -83.25%
• Current HPI: 272.2126
• Rent YoY: ▲ 1.10%
• 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

-10.5% since first listed

9 events — show timeline

• 2026-05-14 Price Changed $239,000 NTREIS
• 2026-04-09 Price Changed $248,000 NTREIS
• 2026-02-27 Listed $256,000 NTREIS
• 2025-12-14 Listing Removed — NTREIS
• 2025-09-05 Listed $267,000 NTREIS
• 2015-09-29 Sold (Public Records) — Public Records
• 2008-02-29 Sold (Public Records) — Public Records
• 2008-02-29 Sold (Public Records) — Public Records
• 1997-05-29 Sold (Public Records) — Public Records

Property tax history

+4.0%/yr

Latest (2025): $2,231 · -0.6% YoY. Source: county tax records.