5856 S Highway 377 · Sherwood Shores, TX 73439

$275,000

3 bd · 2.0 ba · 1,508 sqft · SingleFamily public records · 160 Days on market

Built 2008 1.50 ac lot

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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 +15.9/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +4.9/10.0
• 1% rule +3.4/10.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Just 2 minutes from the shoreline of Lake Texoma, this bright and cheerful home sits on 1.5 acres of unrestricted Oklahoma land—giving you space, freedom, and the tax benefits of living across the state line while still being a short drive into Texas. This well-maintained property features a desirable split-bedroom layout, offering privacy for the primary suite while keeping secondary bedrooms comfortable and spacious. The open-concept living, kitchen, and dining area provides plenty of room for gathering, with abundant cabinetry, stainless appliances, great counter space, and a large island perfect for cooking or entertaining. The primary bedroom includes multiple windows for natural

Key facts

• Covered front porch
• Split-bedroom layout
• Large back patio

Tags

• UNRESTRICTED OKLAHOMA LAND
• SPLIT-BEDROOM LAYOUT
• OPEN-CONCEPT LIVING
• DEDICATED LAUNDRY ROOM
• COVERED FRONT PORCH
• LARGE BACK PATIO

Property features AI

Exterior

• Security: No safety shelter
• Utilities: Electricity available; Water available (rural); Septic tank
• Home design: Single-story; Faces west; Slab foundation
• Construction: Built with HardiPlank type siding and wood frame construction; Asphalt/fiberglass roof; Year built per public records
• Exterior features: Covered patio and porch; Porch; Patio; Shed(s); No listed exterior special features

Interior

• Kitchen: Dishwasher; Oven; Range; Refrigerator; Eat-in kitchen
• Bedrooms: Master bedroom with walk-in closet (First floor); Bedroom (First floor); Bedroom (First floor)
• Flooring: Carpet; Tile; Wood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (Electric); Central air conditioning
• Interior features: Ceiling fan(s); Laminate counters; Programmable thermostat; Vinyl window frames; Other interior features
• Laundry & utility: Washer hookup; Electric dryer hookup; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $275k.

Deal economics

• At list price, monthly cash flow is $133 ($2k/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 $231k (16.2% below list).
• Recommended offer: $231k (16.2% below list) — sets the bar for 1% rule.
• Cap rate 6.9% vs local median 2.8% in Sherwood Shores — 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 49/100 on livability (#1,519 in TX) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: schools F, crime F, amenities F.
• Kingston (rural): math 27% / reading 32% proficiency, ranked #70 of 270 in OK (top 26%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 76% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 42 units permitted in Marshall County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $29k of equity ($2k loan paydown + $28k appreciation (10.0% local appreciation)).
• Marshall County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $77k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$47k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 160 days — a 12% lower offer ($242k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y 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.
• Current owner paid $15k; list at $275k implies a 1733% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate wind risk, 26% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $230,577 (16.2% below list)

Questions for the listing agent

1. It's been on market 160 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-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 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?
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: 0.84% ✗
• Cap rate: 6.87%
• Cash-on-cash: 2.07%
• DSCR: 1.09
• GRM: 9.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 25.8%
• Equity multiple: 3.05×
• Total profit: $158,133
• Equity at exit: $247,742

10-year hold

• IRR: 22.6%
• Equity multiple: 6.96×
• Total profit: $458,836
• Equity at exit: $534,265

Cash invested: $77,000 (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 73439

• Home prices YoY: 12.3%
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $2,306 medium
• Mortgage (P&I): −$1,442
• Tax from tax record: −$132 /mo · $1,585/yr
• Insurance: −$115
• HOA: −$0
• Vacancy / Maint / Mgmt: −$484
• Net cashflow: $133

Break-even live

Break-even rent $2,138

Max offer price $275,000

Occupancy floor 89%

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: $68,750
• Closing costs: $8,250
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-19
   days on market $275,000 Active 160 DOM
2. 2026-06-18
   days on market $275,000 Active 159 DOM
3. 2026-06-17
   days on market $275,000 Active 158 DOM
4. 2026-06-16
   days on market $275,000 Active 157 DOM
5. 2026-06-15
   days on market $275,000 Active 156 DOM
6. 2026-06-14
   days on market $275,000 Active 154 DOM
7. 2026-06-13
   days on market $275,000 Active 153 DOM
8. 2026-06-10
   days on market $275,000 Active 151 DOM
9. 2026-06-09
   days on market $275,000 Active 150 DOM
10. 2026-06-08
    days on market $275,000 Active 149 DOM
11. 2026-06-07
    days on market $275,000 Active 148 DOM
12. 2026-06-05
    days on market $275,000 Active 145 DOM
13. 2026-06-02
    days on market $275,000 Active 143 DOM
14. 2026-06-01
    days on market $275,000 Active 142 DOM
15. 2026-05-31
    days on market $275,000 Active 141 DOM
16. 2026-05-30
    days on market $275,000 Active 140 DOM
17. 2026-05-13
    price $275,000
18. 2026-01-10
    listed $285,000 Active
19. 2025-10-22
    historical
20. 2025-06-19
    price $285,000
21. 2025-04-22
    listed $298,000 Active
22. 2025-04-21
    historical
23. 2025-04-06
    price $298,000
24. 2024-12-04
    price $300,000
25. 2024-10-21
    listed $309,000 Active
26. 2006-07-24
    soldstatus $15,000

ⓘ 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: $1,585 · $132/mo
• Projected year-2 tax: $5,032 · $419/mo
• Expected delta: +$3,448/yr (+$287/mo · 217.5%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥109°F today · 20 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 26% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,669
• − Mortgage interest: −$15,404
• − Property taxes: −$1,585
• − Insurance: −$1,375
• − Repairs & maintenance: −$2,214
• − Management: −$2,214
• − Depreciation: −$8,000
• Taxable loss: −$3,122
• Est. tax savings @ 24.0%: +$749
• After-tax cash flow: $2,342/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: Kingston
• NCES district ID: 4016590
• Math proficiency: 27% ▼ -7.00%
• Reading proficiency: 32% ▼ -7.00%
• Median HH income: $40,655
• Composite: 24.88/100
• National rank: #7585
• State rank: #70 of 270 in OK

Livability — Sherwood Shores

• Score: 49/100
• State rank: #1519
• US rank: #25941

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 7,011

Population outlook (Marshall County) Hauer SSP2

• Today (2025): 17,405 people
• By 2030: 18,038 · +3.6%
• By 2040: 19,513 · +12.1%
• By 2050: 21,283 · +22.3%
• By 2075: 27,884 · +60.2%
• By 2100: 35,435 · +103.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Two or more races 16% Native American 5% Hispanic / Latino 4%
• Common ancestry: Lithuanian 3% Italian 2% Serbian 1%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 3%

Political lean MEDSL · Marshall

• 2024 margin: Solid R (+63.4) · D 17.7% · R 81.2% · Other 1.1%
• 2008→2024 swing: -24.6pp toward R · 2008: -38.8pp · 2024: -63.4pp
• All cycles: 2024: R+63.4 2020: R+62.5 2016: R+56.6 2012: R+45.7 2008: R+38.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 26.96%
• Current HPI: 246.2253
• 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

+1733.3% since first listed

10 events — show timeline

• 2026-05-13 Price Changed $275,000 MLS Technology, Inc.
• 2026-01-10 Listed $285,000 MLS Technology, Inc.
• 2025-10-22 Listing Removed — MLS Technology, Inc.
• 2025-06-19 Price Changed $285,000 MLS Technology, Inc.
• 2025-04-22 Listed $298,000 MLS Technology, Inc.
• 2025-04-21 Listing Removed — MLS Technology, Inc.
• 2025-04-06 Price Changed $298,000 MLS Technology, Inc.
• 2024-12-04 Price Changed $300,000 MLS Technology, Inc.
• 2024-10-21 Listed $309,000 MLS Technology, Inc.
• 2006-07-24 Sold (Public Records) $15,000 Public Records

Property tax history

+1.9%/yr

Latest (2025): $1,585 · +4.1% YoY. Source: county tax records.