3606 S Dakota Dr · Sherman, TX 75090

$200,000

4 bd · 1.5 ba · 1,164 sqft · SingleFamily public records · 96 Days on market

Built 1967 8,494 sqft lot $172/sqft · 27% above area Est $192k · at est.

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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).

• Cash flow +13.8/30.0
• ARV discount +5.7/15.0
• DSCR +4.2/10.0
• 1% rule +3.8/10.0
• 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

4 LARGE BEDROOMS! Located in popular neighborhood near the new entertainment complex at the intersection of 75 and 1417. H-E-B grocery store coming soon as well! Walk in front door to large living room with vaulted ceiling which leads to relaxing covered patio. Kitchen and bathrooms both completely remodeled in recent years. There's fresh paint and LVP flooring throughout the entire house. Roof replaced in 2023. Shed in backyard conveys to buyer. Nothing to do but move right in!

Key facts

• Fresh paint
• Completely remodeled
• Covered patio

Tags

• ENTERTAINMENT COMPLEX
• COVERED PATIO
• COMPLETELY REMODELED
• FRESH PAINT
• LVP FLOORING
• ROOF REPLACED

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $17 ($202/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 $176k (12.2% below list).
• Recommended offer: $176k (12.2% below list) — sets the bar for 1% rule.
• Cap rate 6.4% 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-, amenities F.
• 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.
• Zoned schools: Henry W Sory El (math 35% / reading 43%, grade F, #1,651 of 4,322 statewide, top 39%, 548 students, 69% FRL); Piner Middle (math 31% / reading 41%, grade F, #805 of 1,662 statewide, top 50%, 818 students, 75% FRL); Sherman H S (math 28% / reading 44%, grade F, #930 of 1,632 statewide, top 57%, 2,155 students, 70% FRL).
• Market conditions: Rents soft (-2.7%/yr); 479 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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 38% 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 $1k of loan paydown is wiped out by about $6k 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 96 days — a 9% lower offer ($182k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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: major 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 $175,579 (12.2% below list)

Questions for the listing agent

1. It's been on market 96 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 1967 — 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. 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?
7. 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.
8. 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.
9. 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: 0.88% ✗
• Cap rate: 6.39%
• Cash-on-cash: 0.36%
• DSCR: 1.02
• GRM: 9.5

CMA / ARV

• ARV (median comp): $192,184
• List price: $200,000
• Delta: 4.07%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3104 Arkansas Cir	0.31mi	3/2.0 (-1)	1,200 (+3%)	2mo	$249,000	$208	72
306 Iowa St	0.12mi	3/2.0 (-1)	1,157 (-1%)	17mo	$150,000	$130	72
205 Colorado St	0.05mi	3/2.0 (-1)	1,138 (-2%)	21mo	$219,000	$192	70
314 Colorado St	0.14mi	3/1.5 (-1)	1,126 (-3%)	17mo	$180,000	$160	69
3401 S Carolina Dr	0.28mi	3/2.0 (-1)	1,213 (+4%)	7mo	$200,000	$165	67
217 E Iowa St	0.12mi	3/2.0 (-1)	1,073 (-8%)	10mo	$187,500	$175	66
318 Utah St	0.22mi	3/2.0 (-1)	1,212 (+4%)	18mo	$205,000	$169	61
3428 Spur Run	0.65mi	3/2.0 (-1)	1,332 (+14%)	1mo	$243,490	$183	38
4408 Carnation Dr	0.65mi	3/2.0 (-1)	1,332 (+14%)	3mo	$250,990	$188	36
3406 Tomahawk Dr	0.65mi	3/2.0 (-1)	1,332 (+14%)	3mo	$248,490	$187	36
3429 Tomahawk Dr	0.65mi	3/2.0 (-1)	1,334 (+15%)	6mo	$250,490	$188	33
4306 Carnation Dr	0.65mi	3/2.0 (-1)	1,334 (+15%)	8mo	$253,990	$190	32

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: -19.1%
• Equity multiple: 0.35×
• Total profit: $-36,463
• Equity at exit: $29,821

10-year hold

• IRR: -19.5%
• Equity multiple: 0.10×
• Total profit: $-50,179
• Equity at exit: $17,292

Cash invested: $56,000 (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: 479
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,756 high
• Mortgage (P&I): −$1,049
• Tax from tax record: −$238 /mo · $2,857/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$369
• Net cashflow: $17

Break-even live

Break-even rent $1,734

Max offer price $200,000

Occupancy floor 94%

Sensitivity live

Price	-10% $130	-5% $73	+0% $17	+5% $-40	+10% $-96
Rent	-10% $-122	-5% $-53	+0% $17	+5% $86	+10% $156
Rate	-1.0pp $118	-0.5pp $68	base $17	+0.5pp $-35	+1.0pp $-88

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1601 FM1417 Sherman, TX	3.0	2.0	1448	$1,449	$1.00	23d	1	0.78mi
3807 Pontchartrain Pkwy Sherman, TX	3.0	2.0	1411	$1,650	$1.17	23d	1	0.93mi
3809 Ontario Way Sherman, TX	3.0	2.0	1402	$1,650	$1.18	23d	1	0.99mi
2017 S Branch St Sherman, TX	3.0	2.0	1341	$1,700	$1.27	45d	1	1.32mi
243 W Forest Ave Sherman, TX	3.0	2.5	1244	$1,400	$1.13	45d	1	1.43mi
218 W Lake St Sherman, TX	3.0	2.5	1244	$1,495	$1.20	23d	1	1.46mi
232 W Lake Ave Sherman, TX	3.0	2.5	1244	$1,425	$1.15	46d	1	1.46mi
232 W Lake Ave Sherman, TX	3.0	2.5	1244	$1,395	$1.12	45d	1	1.46mi

Listing history 13 events

1. 2026-06-09
   status $200,000 Pending 96 DOM
2. 2026-06-08
   days on market $200,000 Active 96 DOM
3. 2026-06-07
   days on market $200,000 Active 95 DOM
4. 2026-06-03
   days on market $200,000 Active 91 DOM
5. 2026-06-02
   days on market $200,000 Active 90 DOM
6. 2026-06-01
   days on market $200,000 Active 89 DOM
7. 2026-05-31
   days on market $200,000 Active 88 DOM
8. 2026-05-30
   days on market $200,000 Active 87 DOM
9. 2026-04-22
   status Active 486-char remark

   Show marketing remark (486 chars)

   4 LARGE BEDROOMS! Located in popular neighborhood near the new entertainment complex at the intersection of 75 and 1417. H-E-B grocery store coming soon as well! Walk in front door to large living room with vaulted ceiling which leads to relaxing covered patio. Kitchen and bathrooms both completely remodeled in recent years. There's fresh paint and LVP flooring throughout the entire house. Roof replaced in 2023. Shed in backyard conveys to buyer. Nothing to do but move right in!

10. 2026-04-17
    historical Active Option Contract 486-char remark

    Show marketing remark (486 chars)

    4 LARGE BEDROOMS! Located in popular neighborhood near the new entertainment complex at the intersection of 75 and 1417. H-E-B grocery store coming soon as well! Walk in front door to large living room with vaulted ceiling which leads to relaxing covered patio. Kitchen and bathrooms both completely remodeled in recent years. There's fresh paint and LVP flooring throughout the entire house. Roof replaced in 2023. Shed in backyard conveys to buyer. Nothing to do but move right in!

11. 2026-02-23
    listed $200,000 Active 486-char remark

    Show marketing remark (486 chars)

    4 LARGE BEDROOMS! Located in popular neighborhood near the new entertainment complex at the intersection of 75 and 1417. H-E-B grocery store coming soon as well! Walk in front door to large living room with vaulted ceiling which leads to relaxing covered patio. Kitchen and bathrooms both completely remodeled in recent years. There's fresh paint and LVP flooring throughout the entire house. Roof replaced in 2023. Shed in backyard conveys to buyer. Nothing to do but move right in!

12. 2017-11-01
    soldstatus
13. 2002-05-14
    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: $2,857 · $238/mo
• Projected year-2 tax: $3,660 · $305/mo
• Expected delta: +$803/yr (+$67/mo · 28.1%)

ⓘ 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 7/10 Severe
• 🌡 Heat 7/10 Severe 7 d/yr ≥108°F today · 23 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 21% 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: $21,069
• − Mortgage interest: −$11,203
• − Property taxes: −$2,857
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,686
• − Management: −$1,686
• − Depreciation: −$5,818
• Taxable loss: −$3,180
• Est. tax savings @ 24.0%: +$763
• After-tax cash flow: $965/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

5 events — show timeline

• 2026-04-22 Relisted — NTREIS
• 2026-04-17 Contingent — NTREIS
• 2026-02-23 Listed $200,000 NTREIS
• 2017-11-01 Sold (Public Records) — Public Records
• 2002-05-14 Sold (Public Records) — Public Records

Property tax history

+3.8%/yr

Latest (2025): $2,857 · -0.0% YoY. Source: county tax records.