3904 Bandera Dr · DeCordova, TX 76049

$239,000

3 bd · 2.0 ba · 1,628 sqft · SingleFamily public records · 88 Days on market

Built 1974 3,920 sqft lot $147/sqft · 28% below area Est $334k · 28% under $315/mo HOA · 16% of rent ↓ 20% 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 +7.2/30.0
• Schools +4.0/10.0
• Rent growth +3.8/5.0
• Livability +3.8/5.0
• 1% rule +3.3/10.0
• Condition / age +2.5/5.0
• DSCR +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 3904 Bandera Drive in Granbury, Texas, a charming home that offers comfort, functionality, and easy access to everything the area has to offer. The inviting floor plan features spacious living areas filled with natural light, comfortable bedrooms, and a kitchen with plenty of workspace and storage for everyday living. Step outside to enjoy the peaceful outdoor space—perfect for relaxing, entertaining, or enjoying your morning coffee. Conveniently located near Lake Granbury, shopping, dining, and historic downtown Granbury, this home provides the perfect balance of quiet neighborhood living with nearby amenities. Whether you’re looking for a primary residence, weekend retreat, or investment opportunity, 3904 Bandera Drive is a wonderful place to call home. Being sold AS-IS.

Key facts

• Near lake granbury
• Outdoor space
• 3,920 sq ft lot

Tags

• OUTDOOR SPACE
• KITCHEN WITH WORKSPACE
• NEAR LAKE GRANBURY
• QUIET NEIGHBORHOOD LIVING

What this means for you Summary

Snapshot

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

Deal economics

• At list price, monthly cash flow is $-325 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $182k (24.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $198k (17.1% below list).
• Recommended offer: $182k (24.0% below list) — sets the bar for cash-flow.
• Cap rate 4.7% vs local median 2.8% in DeCordova — 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 76/100 on livability (#120 in TX, #3,802 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: schools D+, health & safety 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.
• Market conditions: Rents rising fast (+5.2%/yr); 703 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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 $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 88 days — a 6% lower offer ($225k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $72k (23%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; moderate 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 $181,617 (24.0% 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 88 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
3. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
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 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: 0.83% ✗
• Cap rate: 4.66%
• Cash-on-cash: -5.82%
• DSCR: 0.74
• GRM: 10.1

CMA / ARV

• ARV (median comp): $333,790
• List price: $239,000
• Delta: -28.40%
• 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
4705 Cimmaron Trl	0.07mi	3/2.0	1,736 (+7%)	2mo	$364,500	$210	84
5014 Tahoka Dr	0.32mi	3/2.0	1,636 (+0%)	15mo	$321,500	$197	72
5613 Pecos Ct	0.61mi	3/2.0	1,648 (+1%)	4mo	$286,000	$174	66
4000 Bandera Dr	0.08mi	3/3.0	1,814 (+11%)	9mo	$510,000	$281	66
5002 Alamo Ct	0.12mi	3/1.5	1,508 (-7%)	18mo	$244,000	$162	65
5000 Rio Vista Dr	0.55mi	2/2.0 (-1)	1,640 (+1%)	11mo	$405,000	$247	59
3600 Linda Way	0.38mi	2/2.0 (-1)	1,466 (-10%)	8mo	$250,000	$171	54
4902 Walnut Place Ct	0.40mi	3/2.5	1,747 (+7%)	18mo	$275,000	$157	52
5114 La Vista Ct	0.45mi	3/2.0	1,787 (+10%)	19mo	$750,000	$420	47
5226 Fairway Cir	0.52mi	3/2.0	1,819 (+12%)	20mo	$345,000	$190	40
3502 Fountain Way	0.63mi	3/2.0	1,831 (+12%)	16mo	$374,900	$205	37
6111 Laredo Ct	0.70mi	3/2.0	1,749 (+7%)	21mo	$325,000	$186	37

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 · 5.2% rent growth · sell at horizon

5-year hold

• IRR: -23.4%
• Equity multiple: 0.18×
• Total profit: $-54,759
• Equity at exit: $35,636

10-year hold

• IRR: -12.4%
• Equity multiple: 0.19×
• Total profit: $-54,368
• 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 76049

• Home prices YoY: -26.8%
• Rents YoY: 5.2%
• Active inventory: 703
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $1,981 high
• Mortgage (P&I): −$1,253
• Tax from tax record: −$222 /mo · $2,665/yr
• Insurance: −$100
• HOA: −$315
• Vacancy / Maint / Mgmt: −$416
• Net cashflow: $-325

Break-even live

Break-even rent $2,392

Max offer price $181,617

Occupancy floor —

Sensitivity live

Price	-10% $-190	-5% $-257	+0% $-325	+5% $-392	+10% $-460
Rent	-10% $-481	-5% $-403	+0% $-325	+5% $-247	+10% $-168
Rate	-1.0pp $-204	-0.5pp $-264	base $-325	+0.5pp $-387	+1.0pp $-450

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 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3910 Montgomery Dr Granbury, TX	4.0	2.0	1344	$1,410	$1.05	45d	1	0.53mi
3316 Windcrest Dr Granbury, TX	3.0	2.0	1684	$2,200	$1.31	8d	1	0.88mi
3310 Windcrest Dr Granbury, TX	3.0	2.0	1661	$2,349	$1.41	8d	1	0.90mi
6415 Circo Dr Granbury, TX	2.0	2.0	1677	$1,850	$1.10	45d	1	0.91mi
3325 Arrow Creek Dr Granbury, TX	4.0	2.0	1784	$2,295	$1.29	22d	1	0.94mi
2705 Acton School Rd Granbury, TX	4.0	2.0	1390	$1,700	$1.22	18d	1	1.05mi
2705 Acton School Rd Granbury, TX	4.0	2.0	1390	$1,700	$1.22	25d	1	1.05mi
2708 James Rd Granbury, TX	3.0	2.0	1200	$1,800	$1.50	45d	1	1.07mi
2700 James Rd Granbury, TX	3.0	2.0	1295	$1,800	$1.39	25d	1	1.07mi
100 Abbey Park Ct Granbury, TX	3.0	2.5	1620	$1,850	$1.14	5d	1	1.24mi
136 Abbey Park Ct Granbury, TX	3.0	2.5	1620	$1,825	$1.13	18d	1	1.25mi
3011 Enchanted Rd Granbury, TX	3.0	2.0	1533	$1,850	$1.21	7d	1	1.25mi
128 Abbey Park Ct Acton, TX	3.0	2.5	1620	$1,825	$1.13	18d	1	1.26mi
128 Abbey Park Ct Unit 128 Acton, TX	3.0	2.5	1620	$1,825	$1.13	8d	1	1.26mi
136 Abbey Park Ct Unit 136 Granbury, TX	3.0	2.5	1620	$1,850	$1.14	4d	1	1.27mi
4202 Indian Creek Ct Granbury, TX	3.0	2.0	2202	$2,800	$1.27	21d	1	1.39mi

HOA detail

• Monthly dues: $315 · $3,780/yr

Listing history 23 events

1. 2026-06-21
   days on market $239,000 Active 88 DOM
2. 2026-06-18
   days on market $239,000 Active 85 DOM
3. 2026-06-17
   pricedays on market $239,000 Active 84 DOM
4. 2026-06-16
   days on market $245,000 Active 83 DOM
5. 2026-06-15
   days on market $245,000 Active 82 DOM
6. 2026-06-13
   days on market $245,000 Active 80 DOM
7. 2026-06-09
   days on market $245,000 Active 76 DOM
8. 2026-06-08
   days on market $245,000 Active 75 DOM
9. 2026-06-07
   days on market $245,000 Active 74 DOM
10. 2026-06-04
    days on market $245,000 Active 71 DOM
11. 2026-06-03
    days on market $245,000 Active 70 DOM
12. 2026-06-02
    days on market $245,000 Active 69 DOM
13. 2026-06-02
    days on market $245,000 Active 68 DOM
14. 2026-05-31
    days on market $245,000 Active 67 DOM
15. 2026-05-14
    price $249,000 812-char remark

    Show marketing remark (812 chars)

    Welcome to 3904 Bandera Drive in Granbury, Texas, a charming home that offers comfort, functionality, and easy access to everything the area has to offer. The inviting floor plan features spacious living areas filled with natural light, comfortable bedrooms, and a kitchen with plenty of workspace and storage for everyday living. Step outside to enjoy the peaceful outdoor space—perfect for relaxing, entertaining, or enjoying your morning coffee. Conveniently located near Lake Granbury, shopping, dining, and historic downtown Granbury, this home provides the perfect balance of quiet neighborhood living with nearby amenities. Whether you’re looking for a primary residence, weekend retreat, or investment opportunity, 3904 Bandera Drive is a wonderful place to call home. Being sold AS-IS.

16. 2026-05-13
    status Active 812-char remark

    Show marketing remark (812 chars)

    Welcome to 3904 Bandera Drive in Granbury, Texas, a charming home that offers comfort, functionality, and easy access to everything the area has to offer. The inviting floor plan features spacious living areas filled with natural light, comfortable bedrooms, and a kitchen with plenty of workspace and storage for everyday living. Step outside to enjoy the peaceful outdoor space—perfect for relaxing, entertaining, or enjoying your morning coffee. Conveniently located near Lake Granbury, shopping, dining, and historic downtown Granbury, this home provides the perfect balance of quiet neighborhood living with nearby amenities. Whether you’re looking for a primary residence, weekend retreat, or investment opportunity, 3904 Bandera Drive is a wonderful place to call home. Being sold AS-IS.

17. 2026-05-08
    historical Active Option Contract 812-char remark

    Show marketing remark (812 chars)

    Welcome to 3904 Bandera Drive in Granbury, Texas, a charming home that offers comfort, functionality, and easy access to everything the area has to offer. The inviting floor plan features spacious living areas filled with natural light, comfortable bedrooms, and a kitchen with plenty of workspace and storage for everyday living. Step outside to enjoy the peaceful outdoor space—perfect for relaxing, entertaining, or enjoying your morning coffee. Conveniently located near Lake Granbury, shopping, dining, and historic downtown Granbury, this home provides the perfect balance of quiet neighborhood living with nearby amenities. Whether you’re looking for a primary residence, weekend retreat, or investment opportunity, 3904 Bandera Drive is a wonderful place to call home. Being sold AS-IS.

18. 2026-04-27
    price $255,000 812-char remark

    Show marketing remark (812 chars)

    Welcome to 3904 Bandera Drive in Granbury, Texas, a charming home that offers comfort, functionality, and easy access to everything the area has to offer. The inviting floor plan features spacious living areas filled with natural light, comfortable bedrooms, and a kitchen with plenty of workspace and storage for everyday living. Step outside to enjoy the peaceful outdoor space—perfect for relaxing, entertaining, or enjoying your morning coffee. Conveniently located near Lake Granbury, shopping, dining, and historic downtown Granbury, this home provides the perfect balance of quiet neighborhood living with nearby amenities. Whether you’re looking for a primary residence, weekend retreat, or investment opportunity, 3904 Bandera Drive is a wonderful place to call home. Being sold AS-IS.

19. 2026-04-08
    price $265,000 812-char remark

    Show marketing remark (812 chars)

    Welcome to 3904 Bandera Drive in Granbury, Texas, a charming home that offers comfort, functionality, and easy access to everything the area has to offer. The inviting floor plan features spacious living areas filled with natural light, comfortable bedrooms, and a kitchen with plenty of workspace and storage for everyday living. Step outside to enjoy the peaceful outdoor space—perfect for relaxing, entertaining, or enjoying your morning coffee. Conveniently located near Lake Granbury, shopping, dining, and historic downtown Granbury, this home provides the perfect balance of quiet neighborhood living with nearby amenities. Whether you’re looking for a primary residence, weekend retreat, or investment opportunity, 3904 Bandera Drive is a wonderful place to call home. Being sold AS-IS.

20. 2026-03-28
    price $280,000 812-char remark

    Show marketing remark (812 chars)

    Welcome to 3904 Bandera Drive in Granbury, Texas, a charming home that offers comfort, functionality, and easy access to everything the area has to offer. The inviting floor plan features spacious living areas filled with natural light, comfortable bedrooms, and a kitchen with plenty of workspace and storage for everyday living. Step outside to enjoy the peaceful outdoor space—perfect for relaxing, entertaining, or enjoying your morning coffee. Conveniently located near Lake Granbury, shopping, dining, and historic downtown Granbury, this home provides the perfect balance of quiet neighborhood living with nearby amenities. Whether you’re looking for a primary residence, weekend retreat, or investment opportunity, 3904 Bandera Drive is a wonderful place to call home. Being sold AS-IS.

21. 2026-03-25
    listed $311,000 Active 812-char remark

    Show marketing remark (812 chars)

    Welcome to 3904 Bandera Drive in Granbury, Texas, a charming home that offers comfort, functionality, and easy access to everything the area has to offer. The inviting floor plan features spacious living areas filled with natural light, comfortable bedrooms, and a kitchen with plenty of workspace and storage for everyday living. Step outside to enjoy the peaceful outdoor space—perfect for relaxing, entertaining, or enjoying your morning coffee. Conveniently located near Lake Granbury, shopping, dining, and historic downtown Granbury, this home provides the perfect balance of quiet neighborhood living with nearby amenities. Whether you’re looking for a primary residence, weekend retreat, or investment opportunity, 3904 Bandera Drive is a wonderful place to call home. Being sold AS-IS.

22. 2002-06-10
    soldstatus
23. 1974-04-29
    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: $2,665 · $222/mo
• Projected year-2 tax: $4,374 · $364/mo
• Expected delta: +$1,708/yr (+$142/mo · 64.1%)

ⓘ 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 ≥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 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,775
• − Mortgage interest: −$13,388
• − Property taxes: −$2,665
• − Insurance: −$1,195
• − Repairs & maintenance: −$1,902
• − Management: −$1,902
• − HOA: −$3,780
• − Depreciation: −$6,953
• Taxable loss: −$8,010
• Est. tax savings @ 24.0%: +$1,922
• After-tax cash flow: $-1,976/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 — DeCordova

• Score: 76/100
• State rank: #120
• US rank: #3802

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: DeCordova, TX
• County: Hood County · 58,506 people
• Metro: Granbury, TX
• Population (ZIP): 31,506
• Household income: $104,967
• Rent vs Own: 12.3% rent · 87.7% own
• Severe rent burden: 235.0

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 (82%)
• Race & ethnicity: White 82% Hispanic / Latino 14% Two or more races 9%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Slovak 3% Serbian 2% Italian 2%
• Foreign-born: 5% · Canada
• Languages at home: 91% English-only · Spanish 8%

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: ▼ -100.09%
• Current HPI: 273.1293
• Rent YoY: ▲ 5.20%
• 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

-19.9% since first listed

9 events — show timeline

• 2026-05-14 Price Changed $249,000 NTREIS
• 2026-05-13 Relisted — NTREIS
• 2026-05-08 Contingent — NTREIS
• 2026-04-27 Price Changed $255,000 NTREIS
• 2026-04-08 Price Changed $265,000 NTREIS
• 2026-03-28 Price Changed $280,000 NTREIS
• 2026-03-25 Listed $311,000 NTREIS
• 2002-06-10 Sold (Public Records) — Public Records
• 1974-04-29 Sold (Public Records) — Public Records

Property tax history

+2.9%/yr

Latest (2025): $2,665 · +8.4% YoY. Source: county tax records.