2315 Balboa Ct · Granbury, TX 76048

$186,250

3 bd · 2.0 ba · 1,344 sqft · Other · 48 Days on market

Built 2002 0.50 ac lot $139/sqft · at area comps Est $181k · at est. $2/mo HOA

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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 +20.9/30.0
• DSCR +6.6/10.0
• ARV discount +6.2/15.0
• 1% rule +4.2/10.0
• Schools +4.0/10.0
• Livability +3.3/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This updated manufactured home sits on a spacious lot in a relaxing setting yet is just minutes from Granbury square. Recent improvements give the interior a modern, move-in-ready feel, while the open layout provides flexibility for your lifestyle. The expansive outdoor space is perfect for pets, hobbies, or future enhancements—there’s room for it all. Ideally located near shopping, restaurants, and a park with a boat ramp, this property offers the best of both worlds: peaceful living and everything you need just moments away. Recent improvements include a new 300+ sq. ft. deck in back, new windows, freshly painted exterior and interior, new roof in 2024, and more. The primary b

Key facts

• Spacious lot
• Open layout
• New deck

Tags

• SPACIOUS LOT
• OPEN LAYOUT
• EXPANSIVE OUTDOOR SPACE
• NEW DECK
• NEW WINDOWS
• FRESHLY PAINTED EXTERIOR

Property features AI

Finance

• Other: Easements for electric and telephone; Lot roughly 0.5 acre; Parcel number R000020196
• HOA & community: Mandatory association (Mesa Grande LOA); Annual HOA fee $25, includes management fees; HOA management phone: [phone]

Exterior

• Parking: Covered parking (1 space); Garage with one 2-car single door (garage dimensions approx. 12' x 23'); Additional off-street parking
• Utilities: Co-op electric; Private water; Septic
• Home design: Manufactured home (residential); Single-story; Property is not attached; Subdivision: Mesa Grande
• Construction: Siding exterior; Block foundation; Built in 2002
• Exterior features: Deck; Chain link and wood fencing; Sandy loam soil; Water access to Granbury

Interior

• Kitchen: Dishwasher; Electric range; Breakfast bar
• Bedrooms: Three bedrooms; Primary bedroom features a walk-in closet (first floor)
• Flooring: Carpet; Luxury vinyl plank
• Bathrooms: Two full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Cable TV available; Seven total rooms; One living area; Two dining areas; One level (single-story)
• Laundry & utility: Electric dryer hookup; Utility room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $186k.

Deal economics

• At list price, monthly cash flow is $258 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $171k (8.0% below list).
• Recommended offer: $171k (8.0% below list) — sets the bar for 1% rule.
• Cap rate 8.0% 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+, amenities F.
• 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.
• Zoned schools: John And Lynn Brawner El (math 45% / reading 41%, grade F, #1,283 of 4,322 statewide, top 30%, 798 students, 70% FRL) — zoned schools average 70% FRL vs 43% district-wide (27 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.1%/yr); 929 active listings in the ZIP; 125 units permitted in Hood County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 48 days — a 3% lower offer ($181k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 13y 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

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

Recommended offer $171,422 (8.0% below list)

Questions for the listing agent

1. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 8% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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?
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: 0.92% ✗
• Cap rate: 7.95%
• Cash-on-cash: 5.93%
• DSCR: 1.26
• GRM: 9.1

CMA / ARV

• ARV (median comp): $180,978
• List price: $186,250
• Delta: 2.91%
• Verdict: FAIR
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -9.1%
• Equity multiple: 0.67×
• Total profit: $-17,081
• Equity at exit: $27,770

10-year hold

• IRR: -2.1%
• Equity multiple: 0.87×
• Total profit: $-6,822
• Equity at exit: $16,103

Cash invested: $52,150 (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: 9.1×

Monthly cashflow live

• Estimated rent: $1,714 medium
• Mortgage (P&I): −$977
• Tax from tax record: −$40 /mo · $484/yr
• Insurance: −$78
• HOA: −$2
• Vacancy / Maint / Mgmt: −$360
• Net cashflow: $258

Break-even live

Break-even rent $1,388

Max offer price $186,250

Occupancy floor 80%

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: $46,562
• Closing costs: $5,588
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $2 · $24/yr

Listing history 13 events

1. 2026-06-13
   statusdays on market $186,250 Pending 48 DOM
2. 2026-06-09
   days on market $186,250 Active Contingent 47 DOM
3. 2026-06-08
   days on market $186,250 Active Contingent 46 DOM
4. 2026-06-07
   days on market $186,250 Active Contingent 45 DOM
5. 2026-06-04
   days on market $186,250 Active Contingent 42 DOM
6. 2026-06-03
   days on market $186,250 Active Contingent 41 DOM
7. 2026-06-02
   days on market $186,250 Active Contingent 40 DOM
8. 2026-06-02
   days on market $186,250 Active Contingent 39 DOM
9. 2026-05-31
   days on market $186,250 Active Contingent 38 DOM
10. 2026-04-28
    price $186,250 993-char remark
11. 2026-04-22
    listed $186,500 Active 993-char remark
12. 2013-07-22
    historical
13. 2013-05-22
    listed $79,000 Active

ⓘ 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: $484 · $40/mo
• Projected year-2 tax: $3,408 · $284/mo
• Expected delta: +$2,925/yr (+$244/mo · 604.6%)

ⓘ 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 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥108°F today · 23 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 24% 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: $20,571
• − Mortgage interest: −$10,433
• − Property taxes: −$484
• − Insurance: −$931
• − Repairs & maintenance: −$1,646
• − Management: −$1,646
• − HOA: −$24
• − Depreciation: −$5,418
• Taxable loss: −$11
• Est. tax savings @ 24.0%: +$3
• After-tax cash flow: $3,094/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

• County: Hood County · 58,506 people
• City population: 58,506
• 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

+135.8% since first listed

6 events — show timeline

• 2026-06-10 Pending — NTREIS
• 2026-05-20 Contingent — NTREIS
• 2026-04-28 Price Changed $186,250 NTREIS
• 2026-04-22 Listed $186,500 NTREIS
• 2013-07-22 Listing Removed — NTREIS
• 2013-05-22 Listed $79,000 NTREIS

Property tax history

+16.6%/yr

Latest (2025): $484 · +0.8% YoY. Source: county tax records.