1032 S Montgomery St · Sherman, TX 75090

$125,000

2 bd · 1.0 ba · 1,096 sqft · SingleFamily public records · 135 Days on market

Built 1920 7,013 sqft lot $114/sqft · 42% below area Est $217k · 42% under ↓ 31% since listing

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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 +21.4/30.0
• ARV discount +15.0/15.0
• DSCR +6.8/10.0
• 1% rule +6.1/10.0
• 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 MLS

Charming two-bedroom, one-bath home with great bones and plenty of potential. Solid, roomy floorplan with bright living areas and a generous backyard. The property needs remodeling—cosmetic updates, new finishes, and some systems attention will bring this house back to life and add value. Schedule a tour today!

Key facts

• 7,013 sq ft lot
• Built 1920
• Listed 134 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $185 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).
• Recommended offer: $110k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.1% 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-, schools D-.
• 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.
• 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); 78% 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 30% 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 $864 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.

Negotiation context

• It's been on market 135 days — a 12% lower offer ($110k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $15k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $110,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 135 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 1920 — 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. 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.
7. 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.
8. 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: 1.11% ✓
• Cap rate: 8.07%
• Cash-on-cash: 6.33%
• DSCR: 1.28
• GRM: 7.5

CMA / ARV

• ARV (median comp): $217,222
• List price: $125,000
• Delta: -42.46%
• 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
110 W Moore St	0.22mi	2/2.0	1,028 (-6%)	10mo	$165,000	$161	67
1016 S 1st St	0.27mi	2/2.0	946 (-14%)	1mo	$206,000	$218	60
625 S Rusk St	0.48mi	2/1.0	988 (-10%)	3mo	$125,000	$127	59
805 S Hazelwood St	0.60mi	3/2.0 (+1)	1,100 (+0%)	7mo	$165,000	$150	56
620 S First	0.44mi	2/2.0	1,002 (-9%)	10mo	$186,999	$187	53
718 E Martin Ln	0.48mi	3/1.5 (+1)	997 (-9%)	4mo	$167,000	$168	52
1509 S Vaden St	0.66mi	3/2.0 (+1)	1,140 (+4%)	5mo	$179,000	$157	50
1313 S Walnut St	0.22mi	3/2.0 (+1)	1,252 (+14%)	10mo	$217,500	$174	49
1710 S Walnut St	0.56mi	2/2.0	1,007 (-8%)	10mo	$199,900	$199	48
713 S Austin St	0.51mi	3/1.0 (+1)	980 (-11%)	7mo	$99,900	$102	47
1505 S Austin St	0.57mi	2/1.0	1,214 (+11%)	10mo	$80,000	$66	47
424 S Maxey St	0.62mi	3/2.0 (+1)	1,247 (+14%)	10mo	$160,000	$128	30

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: -10.1%
• Equity multiple: 0.64×
• Total profit: $-12,516
• Equity at exit: $18,638

10-year hold

• IRR: -5.8%
• Equity multiple: 0.68×
• Total profit: $-11,285
• Equity at exit: $10,808

Cash invested: $35,000 (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: 7.5×

Monthly cashflow live

• Estimated rent: $1,390 high
• Mortgage (P&I): −$656
• Tax from tax record: −$206 /mo · $2,466/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$292
• Net cashflow: $185

Break-even live

Break-even rent $1,156

Max offer price $125,000

Occupancy floor 82%

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1402 S Montgomery St Sherman, TX	3.0	2.0	1160	$1,399	$1.21	44d	1	0.29mi
923 S First St Sherman, TX	2.0	1.0	891	$1,125	$1.26	21d	1	0.30mi
600 E Rosedale St Sherman, TX	2.0	1.0	925	$995	$1.08	44d	1	0.32mi
1006 S Throckmorton St Sherman, TX	2.0	1.0	705	$1,026	$1.46	44d	1	0.33mi
304 E King St Sherman, TX	2.0	1.0	876	$1,250	$1.43	44d	1	0.36mi
822 S Throckmorton St Sherman, TX	3.0	2.0	1288	$1,350	$1.05	44d	1	0.37mi
1219 S Austin St Unit 1219 Sherman, TX	2.0	2.0	1297	$1,650	$1.27	44d	1	0.45mi
1223 S Austin St Unit 1223 Sherman, TX	2.0	2.0	1297	$1,650	$1.27	44d	1	0.46mi
417 W Dulin St Unit 417 Sherman, TX	3.0	2.0	1386	$1,850	$1.33	44d	1	0.47mi
419 W Dulin St Unit 419 Sherman, TX	3.0	2.0	1386	$1,850	$1.33	44d	1	0.47mi
1124 S Hazelwood St Sherman, TX	3.0	2.0	1347	$1,650	$1.22	44d	1	0.51mi
1415 S Austin St Sherman, TX	3.0	1.0	1027	$1,180	$1.15	21d	1	0.53mi
1434 S Rusk St Unit A Sherman, TX	2.0	1.0	800	$1,200	$1.50	44d	1	0.54mi
1434 S Rusk St Unit B Sherman, TX	1.0	1.0	800	$1,000	$1.25	44d	1	0.54mi
224 E Lake St Unit 224 Sherman, TX	2.0	1.0	889	$1,125	$1.27	44d	1	0.56mi
224 E Lake St Sherman, TX	2.0	1.0	889	$1,125	$1.27	44d	1	0.56mi
208 E Lake Ave Sherman, TX	3.0	2.5	1238	$1,445	$1.17	44d	1	0.57mi
1710 S Travis St Sherman, TX	2.0	1.5	1200	$1,200	$1.00	44d	1	0.60mi
830 S Lyon St Sherman, TX	2.0	1.0	784	$1,095	$1.40	44d	1	0.61mi
218 W Lake St Sherman, TX	3.0	2.5	1244	$1,495	$1.20	21d	1	0.63mi
232 W Lake Ave Sherman, TX	3.0	2.5	1244	$1,395	$1.12	44d	1	0.63mi
232 W Lake Ave Sherman, TX	3.0	2.5	1244	$1,425	$1.15	44d	1	0.63mi
243 W Forest Ave Sherman, TX	3.0	2.5	1244	$1,400	$1.13	44d	1	0.67mi
410 S Vaden St Unit A Sherman, TX	1.0	1.0	700	$850	$1.21	44d	1	0.76mi
2017 S Branch St Sherman, TX	3.0	2.0	1341	$1,700	$1.27	44d	1	0.81mi
1338 McCall St Sherman, TX	3.0	2.0	1248	$1,525	$1.22	44d	1	0.86mi
1429 E Odneal St Sherman, TX	3.0	2.0	1218	$1,700	$1.40	44d	1	0.91mi
817 W Lamar St Sherman, TX	3.0	2.0	1074	$1,495	$1.39	44d	1	0.96mi
1014 E Pecan St Sherman, TX	3.0	2.0	1340	$1,900	$1.42	44d	1	1.00mi
1313 E Lamar St Sherman, TX	2.0	1.0	1308	$1,425	$1.09	21d	1	1.01mi
906 W Houston St Sherman, TX	2.0	1.0	989	$1,175	$1.19	44d	1	1.04mi
908 W Houston St Sherman, TX	2.0	1.0	989	$1,299	$1.31	21d	1	1.04mi
620 N Walnut St Sherman, TX	2.0	1.0	1100	$1,050	$0.95	44d	1	1.11mi
214 N Ricketts St Sherman, TX	3.0	2.0	1211	$1,550	$1.28	44d	1	1.12mi
1121 Patricia Dr Sherman, TX	3.0	2.0	1472	$1,450	$0.99	21d	1	1.13mi
108 N Cleveland Ave Sherman, TX	3.0	1.5	1060	$1,200	$1.13	44d	1	1.17mi
207 N Highland Ave Sherman, TX	2.0	1.0	1175	$1,300	$1.11	44d	1	1.21mi
609 E Carter St Sherman, TX	3.0	2.0	1230	$1,450	$1.18	21d	1	1.22mi
607 E Carter St Unit 609 Sherman, TX	3.0	2.0	1230	$1,450	$1.18	21d	1	1.22mi
823 N Branch St Sherman, TX	3.0	2.0	1357	$1,650	$1.22	21d	1	1.22mi

Listing history 23 events

1. 2026-06-19
   days on market $125,000 Active 135 DOM
2. 2026-06-18
   days on market $125,000 Active 134 DOM
3. 2026-06-17
   days on market $125,000 Active 133 DOM
4. 2026-06-16
   days on market $125,000 Active 132 DOM
5. 2026-06-15
   days on market $125,000 Active 131 DOM
6. 2026-06-14
   days on market $125,000 Active 129 DOM
7. 2026-06-13
   days on market $125,000 Active 128 DOM
8. 2026-06-10
   days on market $125,000 Active 126 DOM
9. 2026-06-09
   days on market $125,000 Active 125 DOM
10. 2026-06-08
    days on market $125,000 Active 124 DOM
11. 2026-06-07
    days on market $125,000 Active 123 DOM
12. 2026-06-03
    days on market $125,000 Active 119 DOM
13. 2026-06-02
    days on market $125,000 Active 118 DOM
14. 2026-06-01
    days on market $125,000 Active 117 DOM
15. 2026-05-31
    days on market $125,000 Active 116 DOM
16. 2026-05-30
    days on market $125,000 Active 115 DOM
17. 2026-04-30
    price $125,000 319-char remark

    Show marketing remark (319 chars)

    Charming two-bedroom, one-bath home with great bones and plenty of potential. Solid, roomy floorplan with bright living areas and a generous backyard. The property needs remodeling—cosmetic updates, new finishes, and some systems attention will bring this house back to life and add value. Schedule a tour today!

18. 2026-02-04
    listed $140,000 Active 319-char remark

    Show marketing remark (319 chars)

    Charming two-bedroom, one-bath home with great bones and plenty of potential. Solid, roomy floorplan with bright living areas and a generous backyard. The property needs remodeling—cosmetic updates, new finishes, and some systems attention will bring this house back to life and add value. Schedule a tour today!

19. 2024-08-16
    historical
20. 2024-06-18
    listed $180,000 Active
21. 2007-12-28
    soldstatus
22. 2005-06-27
    soldstatus
23. 2003-03-18
    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: $2,466 · $206/mo
• Projected year-2 tax: $2,466 · $206/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 6/10 Major 7 d/yr ≥108°F today · 22 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 22% 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: $16,675
• − Mortgage interest: −$7,002
• − Property taxes: −$2,466
• − Insurance: −$625
• − Repairs & maintenance: −$1,334
• − Management: −$1,334
• − Depreciation: −$3,636
• Taxable income: $277
• Est. tax owed @ 24.0%: −$67
• After-tax cash flow: $2,149/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

-30.6% since first listed

7 events — show timeline

• 2026-04-30 Price Changed $125,000 NTREIS
• 2026-02-04 Listed $140,000 NTREIS
• 2024-08-16 Listing Removed — NTREIS
• 2024-06-18 Listed $180,000 NTREIS
• 2007-12-28 Sold (Public Records) — Public Records
• 2005-06-27 Sold (Public Records) — Public Records
• 2003-03-18 Sold (Public Records) — Public Records

Property tax history

+6.1%/yr

Latest (2025): $2,466 · +1.0% YoY. Source: county tax records.