1429 S Elm · Sherman, TX 75090

$129,900

3 bd · 2.0 ba · 1,088 sqft · SingleFamily public records · 102 Days on market

Built 1940 5,750 sqft lot $119/sqft · 35% below area Est $200k · 35% 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 +23.7/30.0
• ARV discount +15.0/15.0
• DSCR +7.6/10.0
• 1% rule +6.5/10.0
• 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

Investment opportunity in Sherman, Texas. This 3-bedroom, 2-bath home located at 1429 S Elm St is currently tenant-occupied with renters paying $1,300 per month, providing immediate rental income for investors. Conveniently located in Sherman with easy access to shopping, dining, schools, and major highways. Sherman continues to experience strong growth and economic development, bringing new opportunities and making the area an increasingly attractive place to live and invest. Whether you're looking to expand your rental portfolio or secure a property in one of North Texas’ growing communities, this property offers solid investment potential. The seller is offering to replace the roof before closing with an acceptable offer. Seller is also selling 625 Main in Denison with the mls number 21200427 AND the duplex at 1422 E Lamar. Feel free to make an offer for all three!

Key facts

• Tenant occupied
• 5,750 sq ft lot
• Built 1940

Tags

• TENANT OCCUPIED
• IMMEDIATE RENTAL INCOME
• EASY ACCESS TO SHOPPING
• EASY ACCESS TO DINING
• EASY ACCESS TO SCHOOLS
• EASY ACCESS TO MAJOR HIGHWAYS

🏷️ Possibly a rental listed for sale. The $129,900 price doesn't fit this home's estimated sale value (~$199,592) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $248 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $130k).
• Recommended offer: $118k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.6% 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 32% 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 $898 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 102 days — a 9% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 10y 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

• Watch-outs: built in 1940 — 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 $118,209 (9.0% below list)

Questions for the listing agent

1. It's been on market 102 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — 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: 1.15% ✓
• Cap rate: 8.59%
• Cash-on-cash: 8.19%
• DSCR: 1.36
• GRM: 7.2

CMA / ARV

• ARV (median comp): $199,592
• List price: $129,900
• Delta: -34.92%
• 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
1710 S Walnut St	0.28mi	2/2.0 (-1)	1,007 (-7%)	10mo	$199,900	$199	61
1505 S Austin St	0.16mi	2/1.0 (-1)	1,214 (+12%)	10mo	$80,000	$66	56
517 Regiment Rd	0.69mi	2/2.0 (-1)	1,123 (+3%)	4mo	$236,990	$211	54
2413 Anson Dr	0.69mi	2/2.0 (-1)	1,123 (+3%)	5mo	$224,490	$200	53
418 Regiment Rd	0.69mi	2/2.0 (-1)	1,123 (+3%)	5mo	$227,990	$203	53
110 W Moore St	0.51mi	2/2.0 (-1)	1,028 (-6%)	10mo	$165,000	$161	53
2401 Anson Dr	0.69mi	2/2.0 (-1)	1,123 (+3%)	5mo	$222,990	$199	53
718 E Martin Ln	0.66mi	3/1.5	997 (-8%)	4mo	$167,000	$168	50
713 S Austin St	0.67mi	3/1.0	980 (-10%)	7mo	$99,900	$102	42
1016 S 1st St	0.66mi	2/2.0 (-1)	946 (-13%)	1mo	$206,000	$218	41
625 S Rusk St	0.69mi	2/1.0 (-1)	988 (-9%)	3mo	$125,000	$127	41
423 E Sherman St	0.63mi	2/1.0 (-1)	960 (-12%)	6mo	$163,000	$170	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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -7.4%
• Equity multiple: 0.74×
• Total profit: $-9,589
• Equity at exit: $19,369

10-year hold

• IRR: -2.3%
• Equity multiple: 0.87×
• Total profit: $-4,789
• Equity at exit: $11,231

Cash invested: $36,372 (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: 7.2×

Monthly cashflow live

• Estimated rent: $1,499 high
• Mortgage (P&I): −$681
• Tax from tax record: −$201 /mo · $2,412/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$315
• Net cashflow: $248

Break-even live

Break-even rent $1,185

Max offer price $129,900

Occupancy floor 78%

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1434 S Rusk St Unit A Sherman, TX	2.0	1.0	800	$1,200	$1.50	44d	1	0.11mi
1415 S Austin St Sherman, TX	3.0	1.0	1027	$1,180	$1.15	21d	1	0.16mi
232 W Lake Ave Sherman, TX	3.0	2.5	1244	$1,425	$1.15	44d	1	0.21mi
232 W Lake Ave Sherman, TX	3.0	2.5	1244	$1,395	$1.12	44d	1	0.21mi
218 W Lake St Sherman, TX	3.0	2.5	1244	$1,495	$1.20	21d	1	0.21mi
417 W Dulin St Unit 417 Sherman, TX	3.0	2.0	1386	$1,850	$1.33	44d	1	0.23mi
419 W Dulin St Unit 419 Sherman, TX	3.0	2.0	1386	$1,850	$1.33	44d	1	0.23mi
1219 S Austin St Unit 1219 Sherman, TX	2.0	2.0	1297	$1,650	$1.27	44d	1	0.23mi
1223 S Austin St Unit 1223 Sherman, TX	2.0	2.0	1297	$1,650	$1.27	44d	1	0.24mi
243 W Forest Ave Sherman, TX	3.0	2.5	1244	$1,400	$1.13	44d	1	0.24mi
1710 S Travis St Sherman, TX	2.0	1.5	1200	$1,200	$1.00	44d	1	0.26mi
1402 S Montgomery St Sherman, TX	3.0	2.0	1160	$1,399	$1.21	44d	1	0.27mi
208 E Lake Ave Sherman, TX	3.0	2.5	1238	$1,445	$1.17	44d	1	0.30mi
224 E Lake St Sherman, TX	2.0	1.0	889	$1,125	$1.27	44d	1	0.34mi
224 E Lake St Unit 224 Sherman, TX	2.0	1.0	889	$1,125	$1.27	44d	1	0.34mi
2017 S Branch St Sherman, TX	3.0	2.0	1341	$1,700	$1.27	44d	1	0.58mi
600 E Rosedale St Sherman, TX	2.0	1.0	925	$995	$1.08	44d	1	0.60mi
830 S Lyon St Sherman, TX	2.0	1.0	784	$1,095	$1.40	44d	1	0.61mi
1006 S Throckmorton St Sherman, TX	2.0	1.0	705	$1,026	$1.46	44d	1	0.72mi
923 S First St Sherman, TX	2.0	1.0	891	$1,125	$1.26	21d	1	0.72mi
304 E King St Sherman, TX	2.0	1.0	876	$1,250	$1.43	44d	1	0.78mi
822 S Throckmorton St Sherman, TX	3.0	2.0	1288	$1,350	$1.05	44d	1	0.79mi
1124 S Hazelwood St Sherman, TX	3.0	2.0	1347	$1,650	$1.22	44d	1	0.83mi
2700 S Travis St Sherman, TX	1.0–2.0	1.0–2.0	882	$950	$1.08	21d	1	1.07mi
817 W Lamar St Sherman, TX	3.0	2.0	1074	$1,495	$1.39	44d	1	1.11mi
908 W Houston St Sherman, TX	2.0	1.0	989	$1,299	$1.31	21d	1	1.17mi
1338 McCall St Sherman, TX	3.0	2.0	1248	$1,525	$1.22	44d	1	1.17mi
906 W Houston St Sherman, TX	2.0	1.0	989	$1,175	$1.19	44d	1	1.18mi
214 N Ricketts St Sherman, TX	3.0	2.0	1211	$1,550	$1.28	44d	1	1.28mi
1429 E Odneal St Sherman, TX	3.0	2.0	1218	$1,700	$1.40	44d	1	1.29mi
207 N Highland Ave Sherman, TX	2.0	1.0	1175	$1,300	$1.11	44d	1	1.33mi
114 S Holly Ave Sherman, TX	3.0	1.5	1440	$1,195	$0.83	44d	1	1.35mi
106 N McKown Ave Sherman, TX	2.0	1.0	1066	$1,050	$0.98	21d	1	1.35mi
1121 Patricia Dr Sherman, TX	3.0	2.0	1472	$1,450	$0.99	21d	1	1.40mi
2700 Ginger Ct Sherman, TX	3.0	2.0	1090	$1,550	$1.42	44d	1	1.43mi
2733 Ginger Ct Sherman, TX	2.0	2.5	1002	$1,400	$1.40	21d	1	1.44mi
1313 E Lamar St Sherman, TX	2.0	1.0	1308	$1,425	$1.09	21d	1	1.45mi
1014 E Pecan St Sherman, TX	3.0	2.0	1340	$1,900	$1.42	44d	1	1.45mi
524-526 N Woods St Sherman, TX	3.0	2.0	1454	$1,445	$0.99	44d	1	1.48mi
620 N Walnut St Sherman, TX	2.0	1.0	1100	$1,050	$0.95	44d	1	1.48mi

Listing history 26 events

1. 2026-06-19
   days on market $129,900 Active 102 DOM
2. 2026-06-18
   days on market $129,900 Active 101 DOM
3. 2026-06-17
   days on market $129,900 Active 100 DOM
4. 2026-06-16
   days on market $129,900 Active 99 DOM
5. 2026-06-15
   days on market $129,900 Active 98 DOM
6. 2026-06-14
   days on market $129,900 Active 96 DOM
7. 2026-06-13
   days on market $129,900 Active 95 DOM
8. 2026-06-10
   days on market $129,900 Active 93 DOM
9. 2026-06-09
   days on market $129,900 Active 92 DOM
10. 2026-06-08
    days on market $129,900 Active 91 DOM
11. 2026-06-07
    days on market $129,900 Active 90 DOM
12. 2026-06-03
    days on market $129,900 Active 86 DOM
13. 2026-06-02
    days on market $129,900 Active 85 DOM
14. 2026-06-01
    days on market $129,900 Active 84 DOM
15. 2026-05-31
    days on market $129,900 Active 83 DOM
16. 2026-05-30
    days on market $129,900 Active 82 DOM
17. 2026-03-07
    listed $129,900 Active 890-char remark

    Show marketing remark (890 chars)

    Investment opportunity in Sherman, Texas. This 3-bedroom, 2-bath home located at 1429 S Elm St is currently tenant-occupied with renters paying $1,300 per month, providing immediate rental income for investors. Conveniently located in Sherman with easy access to shopping, dining, schools, and major highways. Sherman continues to experience strong growth and economic development, bringing new opportunities and making the area an increasingly attractive place to live and invest. Whether you're looking to expand your rental portfolio or secure a property in one of North Texas’ growing communities, this property offers solid investment potential. The seller is offering to replace the roof before closing with an acceptable offer. Seller is also selling 625 Main in Denison with the mls number 21200427 AND the duplex at 1422 E Lamar. Feel free to make an offer for all three!

18. 2021-10-06
    soldstatus
19. 2018-08-22
    soldstatus
20. 2016-05-31
    soldstatus Sold 235-char remark

    Show marketing remark (235 chars)

    Investment or handyman special. Needs lots of updates. 3b2b house with large workshop in back with electricity. Gas water heater and wall unit. AC window units have been removed. Needs repairs. Inspection needed to determine condition.

21. 2016-05-31
    soldstatus

    Show marketing remark (235 chars)

    Investment or handyman special. Needs lots of updates. 3b2b house with large workshop in back with electricity. Gas water heater and wall unit. AC window units have been removed. Needs repairs. Inspection needed to determine condition.

22. 2016-05-05
    status Pending 235-char remark

    Show marketing remark (235 chars)

    Investment or handyman special. Needs lots of updates. 3b2b house with large workshop in back with electricity. Gas water heater and wall unit. AC window units have been removed. Needs repairs. Inspection needed to determine condition.

23. 2016-04-28
    historical Active Option Contract 235-char remark

    Show marketing remark (235 chars)

    Investment or handyman special. Needs lots of updates. 3b2b house with large workshop in back with electricity. Gas water heater and wall unit. AC window units have been removed. Needs repairs. Inspection needed to determine condition.

24. 2016-02-15
    price $45,000 235-char remark

    Show marketing remark (235 chars)

    Investment or handyman special. Needs lots of updates. 3b2b house with large workshop in back with electricity. Gas water heater and wall unit. AC window units have been removed. Needs repairs. Inspection needed to determine condition.

25. 2016-02-04
    listed $53,000 Active 235-char remark

    Show marketing remark (235 chars)

    Investment or handyman special. Needs lots of updates. 3b2b house with large workshop in back with electricity. Gas water heater and wall unit. AC window units have been removed. Needs repairs. Inspection needed to determine condition.

26. 1999-05-04
    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: $2,412 · $201/mo
• Projected year-2 tax: $2,412 · $201/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: $17,993
• − Mortgage interest: −$7,276
• − Property taxes: −$2,412
• − Insurance: −$650
• − Repairs & maintenance: −$1,439
• − Management: −$1,439
• − Depreciation: −$3,779
• Taxable income: $997
• Est. tax owed @ 24.0%: −$239
• After-tax cash flow: $2,739/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

+145.1% since first listed

10 events — show timeline

• 2026-03-07 Listed $129,900 NTREIS
• 2021-10-06 Sold (Public Records) — Public Records
• 2018-08-22 Sold (Public Records) — Public Records
• 2016-05-31 Sold (Public Records) — Public Records
• 2016-05-31 Sold (MLS) — NTREIS
• 2016-05-05 Pending — NTREIS
• 2016-04-28 Contingent — NTREIS
• 2016-02-15 Price Changed $45,000 NTREIS
• 2016-02-04 Listed $53,000 NTREIS
• 1999-05-04 Sold (Public Records) — Public Records

Property tax history

+4.4%/yr

Latest (2025): $2,412 · +4.9% YoY. Source: county tax records.