2334 Sanbar Rd #13 · Graford, TX 76449

$55,000

3 bd · 2.0 ba · 1,344 sqft · Manufactured public records · 275 Days on market

Built 1964 4,443 sqft lot $41/sqft · 39% below area Est $90k · 39% under

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Why this score? — see what drove the C- 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 +15.0/30.0
• ARV discount +15.0/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +3.4/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

MOTIVATED SELLER ~ PLEASE BRING YOUR BEST OFFER. Thinking you'd like to get out of town and enjoy the Possum Kingdom Lake Life? This well-maintained 3-bedroom, 2-bath home could be the answer! It is waiting for you nestled in the welcoming lakefront community of Golden Cove at scenic Possum Kingdom Lake, the Great Lake of Texas. Offering an affordable way to embrace the lake life, this home is just a short golf cart ride from the water, where you can relax, connect with neighbors, feed the friendly deer, or take in breathtaking sunsets. Golden Cove amenities include a private boat ramp (no waiting in long lines at the public ramp!), secure community mailboxes, on-site boat and watercraft rentals, a community pavilion, overflow cabins for guests, and one of the best swimming areas on PK Lake (aka The Cove). The home has been lovingly cared for by its full-time resident owners, with a new roof and HVAC system installed within the last three years. Inside, the spacious open living area and recreation room—complete with a pool table (included)—provide the perfect gathering space when you're not out enjoying the lake. With ample room for guests and a fenced yard for pets, this home is a fantastic retreat or a comfortable full-time home. And it comes with a built-in Lake Family once you get to know your neighbors! Current Monthly lot lease: $865.

Key facts

• Lakefront community
• Fenced yard
• Recreation room

Tags

• LAKEFRONT COMMUNITY
• PRIVATE BOAT RAMP
• COMMUNITY PAVILION
• FENCED YARD
• SPACIOUS OPEN LIVING AREA
• RECREATION ROOM

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $55k.

Deal economics

• At list price, monthly cash flow is $2k ($21k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $55k).
• Recommended offer: $48k (12.0% below list) — sets the bar for market timing.
• Cap rate 44.3% vs local median 1.3% in Graford — 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 63/100 on livability (#856 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, health & safety D+, schools D-.
• Graford ISD (rural): math 35% / reading 40% proficiency, ranked #817 of 1,141 in TX (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 465 active listings in the ZIP; 27 units permitted in Palo Pinto County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $380 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Palo Pinto County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 275 days — a 12% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 6y ago; this cycle's ask has dropped $25k (31%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $48,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 275 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
8. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
9. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
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: 4.84% ✓
• Cap rate: 44.33%
• Cash-on-cash: 135.84%
• DSCR: 7.04
• GRM: 1.7

CMA / ARV

• ARV (median comp): $90,000
• List price: $55,000
• Delta: -38.89%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2334 Sanbar Rd #45	0.04mi	3/2.0	1,344 (0%)	22mo	$148,900	$111	79
2334 Sanbar Rd #70	0.00mi	3/2.0	1,216 (-10%)	12mo	$115,000	$95	74
2334 Sanbar Rd Unit 21A	0.06mi	2/1.5 (-1)	1,408 (+5%)	11mo	$95,000	$67	74
2334 Sanbar Rd #108	0.06mi	3/2.0	1,216 (-10%)	19mo	$80,000	$66	66
2334 Sanbar Rd #32	0.06mi	2/1.0 (-1)	1,210 (-10%)	14mo	$49,999	$41	60

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: —
• Equity multiple: 7.63×
• Total profit: $102,145
• Equity at exit: $8,201

10-year hold

• IRR: —
• Equity multiple: 16.07×
• Total profit: $232,026
• Equity at exit: $4,755

Cash invested: $15,400 (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 76449

• Home prices YoY: -27.7%
• Active inventory: 465
• Price-to-rent: 1.7×

Monthly cashflow live

• Estimated rent: $2,661 medium
• Mortgage (P&I): −$288
• Tax from tax record: −$47 /mo · $570/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$559
• Net cashflow: $1,743

Break-even live

Break-even rent $454

Max offer price $55,000

Occupancy floor 29%

Sensitivity live

Price	-10% $1,774	-5% $1,759	+0% $1,743	+5% $1,728	+10% $1,712
Rent	-10% $1,533	-5% $1,638	+0% $1,743	+5% $1,848	+10% $1,953
Rate	-1.0pp $1,771	-0.5pp $1,757	base $1,743	+0.5pp $1,729	+1.0pp $1,715

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Listing history 29 events

1. 2026-06-14
   statusdays on market $55,000 Pending 275 DOM
2. 2026-06-12
   statusdays on market $55,000 Active Option Contract 274 DOM
3. 2026-06-09
   days on market $55,000 Active 271 DOM
4. 2026-06-08
   days on market $55,000 Active 270 DOM
5. 2026-06-07
   days on market $55,000 Active 269 DOM
6. 2026-06-05
   days on market $55,000 Active 267 DOM
7. 2026-06-04
   days on market $55,000 Active 265 DOM
8. 2026-06-02
   days on market $55,000 Active 264 DOM
9. 2026-06-01
   days on market $55,000 Active 263 DOM
10. 2026-05-31
    days on market $55,000 Active 262 DOM
11. 2026-05-31
    days on market $55,000 Active 261 DOM
12. 2026-04-01
    status Active 1380-char remark

    Show marketing remark (1380 chars)

    MOTIVATED SELLER ~ PLEASE BRING YOUR BEST OFFER. Thinking you'd like to get out of town and enjoy the Possum Kingdom Lake Life? This well-maintained 3-bedroom, 2-bath home could be the answer! It is waiting for you nestled in the welcoming lakefront community of Golden Cove at scenic Possum Kingdom Lake, the Great Lake of Texas. Offering an affordable way to embrace the lake life, this home is just a short golf cart ride from the water, where you can relax, connect with neighbors, feed the friendly deer, or take in breathtaking sunsets. Golden Cove amenities include a private boat ramp (no waiting in long lines at the public ramp!), secure community mailboxes, on-site boat and watercraft rentals, a community pavilion, overflow cabins for guests, and one of the best swimming areas on PK Lake (aka The Cove). The home has been lovingly cared for by its full-time resident owners, with a new roof and HVAC system installed within the last three years. Inside, the spacious open living area and recreation room—complete with a pool table (included)—provide the perfect gathering space when you're not out enjoying the lake. With ample room for guests and a fenced yard for pets, this home is a fantastic retreat or a comfortable full-time home. And it comes with a built-in Lake Family once you get to know your neighbors! Current Monthly lot lease: $865.

13. 2026-03-31
    historical 1380-char remark

    Show marketing remark (1380 chars)

    MOTIVATED SELLER ~ PLEASE BRING YOUR BEST OFFER. Thinking you'd like to get out of town and enjoy the Possum Kingdom Lake Life? This well-maintained 3-bedroom, 2-bath home could be the answer! It is waiting for you nestled in the welcoming lakefront community of Golden Cove at scenic Possum Kingdom Lake, the Great Lake of Texas. Offering an affordable way to embrace the lake life, this home is just a short golf cart ride from the water, where you can relax, connect with neighbors, feed the friendly deer, or take in breathtaking sunsets. Golden Cove amenities include a private boat ramp (no waiting in long lines at the public ramp!), secure community mailboxes, on-site boat and watercraft rentals, a community pavilion, overflow cabins for guests, and one of the best swimming areas on PK Lake (aka The Cove). The home has been lovingly cared for by its full-time resident owners, with a new roof and HVAC system installed within the last three years. Inside, the spacious open living area and recreation room—complete with a pool table (included)—provide the perfect gathering space when you're not out enjoying the lake. With ample room for guests and a fenced yard for pets, this home is a fantastic retreat or a comfortable full-time home. And it comes with a built-in Lake Family once you get to know your neighbors! Current Monthly lot lease: $865.

14. 2026-02-07
    price $55,000 1380-char remark

    Show marketing remark (1380 chars)

    MOTIVATED SELLER ~ PLEASE BRING YOUR BEST OFFER. Thinking you'd like to get out of town and enjoy the Possum Kingdom Lake Life? This well-maintained 3-bedroom, 2-bath home could be the answer! It is waiting for you nestled in the welcoming lakefront community of Golden Cove at scenic Possum Kingdom Lake, the Great Lake of Texas. Offering an affordable way to embrace the lake life, this home is just a short golf cart ride from the water, where you can relax, connect with neighbors, feed the friendly deer, or take in breathtaking sunsets. Golden Cove amenities include a private boat ramp (no waiting in long lines at the public ramp!), secure community mailboxes, on-site boat and watercraft rentals, a community pavilion, overflow cabins for guests, and one of the best swimming areas on PK Lake (aka The Cove). The home has been lovingly cared for by its full-time resident owners, with a new roof and HVAC system installed within the last three years. Inside, the spacious open living area and recreation room—complete with a pool table (included)—provide the perfect gathering space when you're not out enjoying the lake. With ample room for guests and a fenced yard for pets, this home is a fantastic retreat or a comfortable full-time home. And it comes with a built-in Lake Family once you get to know your neighbors! Current Monthly lot lease: $865.

15. 2025-10-28
    price $70,000 1380-char remark

    Show marketing remark (1380 chars)

    MOTIVATED SELLER ~ PLEASE BRING YOUR BEST OFFER. Thinking you'd like to get out of town and enjoy the Possum Kingdom Lake Life? This well-maintained 3-bedroom, 2-bath home could be the answer! It is waiting for you nestled in the welcoming lakefront community of Golden Cove at scenic Possum Kingdom Lake, the Great Lake of Texas. Offering an affordable way to embrace the lake life, this home is just a short golf cart ride from the water, where you can relax, connect with neighbors, feed the friendly deer, or take in breathtaking sunsets. Golden Cove amenities include a private boat ramp (no waiting in long lines at the public ramp!), secure community mailboxes, on-site boat and watercraft rentals, a community pavilion, overflow cabins for guests, and one of the best swimming areas on PK Lake (aka The Cove). The home has been lovingly cared for by its full-time resident owners, with a new roof and HVAC system installed within the last three years. Inside, the spacious open living area and recreation room—complete with a pool table (included)—provide the perfect gathering space when you're not out enjoying the lake. With ample room for guests and a fenced yard for pets, this home is a fantastic retreat or a comfortable full-time home. And it comes with a built-in Lake Family once you get to know your neighbors! Current Monthly lot lease: $865.

16. 2025-09-10
    listed $80,000 Active 1380-char remark

    Show marketing remark (1380 chars)

    MOTIVATED SELLER ~ PLEASE BRING YOUR BEST OFFER. Thinking you'd like to get out of town and enjoy the Possum Kingdom Lake Life? This well-maintained 3-bedroom, 2-bath home could be the answer! It is waiting for you nestled in the welcoming lakefront community of Golden Cove at scenic Possum Kingdom Lake, the Great Lake of Texas. Offering an affordable way to embrace the lake life, this home is just a short golf cart ride from the water, where you can relax, connect with neighbors, feed the friendly deer, or take in breathtaking sunsets. Golden Cove amenities include a private boat ramp (no waiting in long lines at the public ramp!), secure community mailboxes, on-site boat and watercraft rentals, a community pavilion, overflow cabins for guests, and one of the best swimming areas on PK Lake (aka The Cove). The home has been lovingly cared for by its full-time resident owners, with a new roof and HVAC system installed within the last three years. Inside, the spacious open living area and recreation room—complete with a pool table (included)—provide the perfect gathering space when you're not out enjoying the lake. With ample room for guests and a fenced yard for pets, this home is a fantastic retreat or a comfortable full-time home. And it comes with a built-in Lake Family once you get to know your neighbors! Current Monthly lot lease: $865.

17. 2025-03-03
    listed $85,000 Active
18. 2023-07-07
    status Active
19. 2023-06-15
    historical
20. 2023-06-09
    listed $90,000 Active
21. 2020-07-23
    soldstatus
22. 2020-07-22
    soldstatus Sold
23. 2020-07-08
    status Pending
24. 2020-07-02
    historical Active Option Contract
25. 2020-05-03
    listed $39,500 Active
26. 2019-12-31
    soldstatus
27. 2012-04-17
    soldstatus
28. 2003-06-02
    soldstatus
29. 1998-06-08
    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: $570 · $47/mo
• Projected year-2 tax: $1,006 · $84/mo
• Expected delta: +$437/yr (+$36/mo · 76.6%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 16% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥107°F today · 23 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 17% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,931
• − Mortgage interest: −$3,081
• − Property taxes: −$570
• − Insurance: −$275
• − Repairs & maintenance: −$2,554
• − Management: −$2,554
• − Depreciation: −$1,600
• Taxable income: $21,296
• Est. tax owed @ 24.0%: −$5,111
• After-tax cash flow: $15,808/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: Graford ISD
• NCES district ID: 4821330
• Math proficiency: 35% ▬ 0.00%
• Reading proficiency: 40% ▲ 10.00%
• Median HH income: $43,275
• Composite: 34.3/100
• National rank: #10225
• State rank: #817 of 1141 in TX

Livability — Graford

• Score: 63/100
• State rank: #856
• US rank: #15394

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 2,157

Population outlook (Palo Pinto County) Hauer SSP2

• Today (2025): 27,500 people
• By 2030: 27,079 · -1.5%
• By 2040: 26,135 · -5.0%
• By 2050: 25,215 · -8.3%
• By 2075: 23,416 · -14.9%
• By 2100: 20,300 · -26.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 7% Two or more races 4%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Portuguese 1% Italian 1% Serbian 1%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 4%

Political lean MEDSL · Palo Pinto

• 2024 margin: Solid R (+67.1) · D 16.1% · R 83.2%
• 2008→2024 swing: -18.9pp toward R · 2008: -48.2pp · 2024: -67.1pp
• All cycles: 2024: R+67.1 2020: R+64.1 2016: R+64.1 2012: R+59.8 2008: R+48.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -92.53%
• Current HPI: 241.6435
• Rent YoY: —
• Metro: —
• 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

+39.2% since first listed

18 events — show timeline

• 2026-04-01 Relisted — NTREIS
• 2026-03-31 Listing Removed — NTREIS
• 2026-02-07 Price Changed $55,000 NTREIS
• 2025-10-28 Price Changed $70,000 NTREIS
• 2025-09-10 Listed $80,000 NTREIS
• 2025-03-03 Listed $85,000 NTREIS
• 2023-07-07 Relisted — NTREIS
• 2023-06-15 Listing Removed — NTREIS
• 2023-06-09 Listed $90,000 NTREIS
• 2020-07-23 Sold (Public Records) — Public Records
• 2020-07-22 Sold (MLS) — NTREIS
• 2020-07-08 Pending — NTREIS
• 2020-07-02 Contingent — NTREIS
• 2020-05-03 Listed $39,500 NTREIS
• 2019-12-31 Sold (Public Records) — Public Records
• 2012-04-17 Sold (Public Records) — Public Records
• 2003-06-02 Sold (Public Records) — Public Records
• 1998-06-08 Sold (Public Records) — Public Records

Property tax history

+2.6%/yr

Latest (2025): $570 · -5.7% YoY. Source: county tax records.