2608 Shenandoah Dr · Tyler, TX 75701

$145,000

3 bd · 2.0 ba · 1,602 sqft · SingleFamily public records · 8 Days on market

Built 1965 0.27 ac lot $91/sqft · 37% below area Est $230k · 37% under

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Why this score? — see what drove the B- 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 +24.5/30.0
• ARV discount +15.0/15.0
• DSCR +7.9/10.0
• 1% rule +6.9/10.0
• Livability +3.8/5.0
• Rent growth +3.4/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome Gardner's! Own a garden spot in the city limits of Tyler! This spacious 1602 Sq Ft home has a backyard with 4 separate garden areas rich in compost. Home has 3 large bedrooms and 2 baths. Primary bedroom has 2 closets, natural light from windows and private bath. Den with gas fireplace and large Family Room to entertain family and friends. Yard has chain link fence with gates on either side. Conveniently located to schools, Colleges, Restaurants and the Medical District. This home is currently vacant and waiting for new owners. Whether you are searching for a primary residence or an investment opportunity this home offers plenty of value, great location and an opportunity to grow your own vegetables.

Key facts

• Private bath
• Great location
• Gas fireplace

Tags

• GARDEN AREAS
• GAS FIREPLACE
• PRIVATE BATH
• GREAT LOCATION

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $298 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Cap rate 8.8% vs local median 3.6% in Tyler — 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 75/100 on livability (#147 in TX, #4,181 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, schools D+, crime D+.
• Tyler ISD (urban): math 39% / reading 38% proficiency, ranked #449 of 826 in TX (top 54%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+3.7%/yr); 327 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 41% of comp listings sitting > 30 days — soft ceiling on asking rent; 595 units permitted in Smith County in 2024 (45 in 5+ unit buildings).
• This rent runs 31% of the median local income ($66k/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 $4k of value loss. Plan a longer hold.
• Smith County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 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 wind risk, 60% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $145,000

Questions for the listing agent

1. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.19% ✓
• Cap rate: 8.76%
• Cash-on-cash: 8.82%
• DSCR: 1.39
• GRM: 7.0

CMA / ARV

• ARV (median comp): $229,995
• List price: $145,000
• Delta: -36.96%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3021 Williamsburg Dr	0.09mi	3/2.0	1,670 (+4%)	1mo	$225,000	$135	87
3212 Timberlane Dr	0.26mi	3/2.0	1,716 (+7%)	3mo	$274,000	$160	74
2216 Crestwood Dr	0.33mi	3/2.0	1,565 (-2%)	14mo	$260,000	$166	69
2911 Meadow Brook Trl	0.70mi	4/2.0 (+1)	1,610 (+0%)	11mo	$299,000	$186	52
2939 Meadow Brook Trl	0.72mi	3/2.0	1,460 (-9%)	8mo	$260,000	$178	45
3814 Pine Manor Dr	0.63mi	3/2.0	1,734 (+8%)	14mo	$265,000	$153	45
3300 Greg	0.67mi	3/2.0	1,528 (-5%)	23mo	$245,000	$160	42
2719 Royal Vlg	0.73mi	3/2.0	1,535 (-4%)	23mo	$315,000	$205	40
2715 Royal Village Way	0.74mi	4/2.5 (+1)	1,770 (+10%)	23mo	$333,900	$189	22

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 · 3.66% rent growth · sell at horizon

5-year hold

• IRR: -2.1%
• Equity multiple: 0.92×
• Total profit: $-3,273
• Equity at exit: $21,620

10-year hold

• IRR: 8.4%
• Equity multiple: 1.66×
• Total profit: $26,695
• Equity at exit: $12,537

Cash invested: $40,600 (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 75701

• Rents YoY: 3.7%
• Active inventory: 327
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,730 high
• Mortgage (P&I): −$760
• Tax from tax record: −$248 /mo · $2,970/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$363
• Net cashflow: $298

Break-even live

Break-even rent $1,352

Max offer price $145,000

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3207 Timberlane Dr Tyler, TX	3.0	2.0	1783	$1,750	$0.98	43d	1	0.23mi
3113 Greg Ln Tyler, TX	3.0	1.5	1157	$1,300	$1.12	13d	1	0.54mi
3127 Andy Ln Tyler, TX	4.0	2.0	1733	$2,100	$1.21	43d	1	0.54mi
2725 Tanglewood Dr Tyler, TX	3.0	2.0	1956	$1,675	$0.86	13d	1	0.55mi
3629 McDonald Rd Tyler, TX	2.0	2.0	1287	$1,325	$1.03	21d	1	0.56mi
2725 Amy Ln Tyler, TX	2.0	1.5	1146	$1,520	$1.33	13d	1	0.63mi
3032 Santa Elena Dr Tyler, TX	3.0	2.0	1473	$2,485	$1.69	43d	1	0.64mi
3038 Santa Elena Dr Tyler, TX	3.0	2.0	1305	$2,485	$1.90	13d	1	0.65mi
2531 Westminster Dr Tyler, TX	3.0	2.0	1410	$1,425	$1.01	21d	1	0.72mi
2310 Haverhill Dr Tyler, TX	2.0	2.0	1200	$1,615	$1.35	21d	1	0.80mi
2319 Hunter St Tyler, TX	3.0	1.0	1200	$1,225	$1.02	43d	1	0.92mi
2020 S Tipton Ave Tyler, TX	3.0	2.0	1914	$2,100	$1.10	13d	1	0.97mi
2401 Airline Dr Tyler, TX	3.0	2.5	1512	$1,325	$0.88	43d	1	1.06mi
9149 County Road 273 Tyler, TX	2.0	2.0	1597	$1,595	$1.00	21d	1	1.12mi
4418 Edinburgh Dr Tyler, TX	3.0	2.0	1407	$1,750	$1.24	43d	1	1.41mi
4118 Southpark Dr Tyler, TX	3.0	2.0	1552	$1,450	$0.93	43d	1	1.43mi
4518 Edinburgh Dr Unit 4520 Edinburgh Tyler, TX	3.0	2.0	1436	$1,425	$0.99	21d	1	1.45mi
4520 Edinburgh Dr Tyler, TX	3.0	2.0	1436	$1,425	$0.99	21d	1	1.45mi
2009 E Devine St Tyler, TX	3.0	2.0	1200	$1,600	$1.33	43d	1	1.47mi
1712 Redbud Ave Tyler, TX	3.0	1.5	1305	$1,475	$1.13	21d	1	1.48mi
1712 Redbud Ave Tyler, TX	3.0	1.5	1561	$1,475	$0.94	13d	1	1.48mi
4309 Aberdeen Dr Tyler, TX	3.0	2.0	1219	$1,475	$1.21	43d	1	1.50mi

Listing history 5 events

1. 2026-05-18
   status Pending 717-char remark

   Show marketing remark (717 chars)

   Welcome Gardner's! Own a garden spot in the city limits of Tyler! This spacious 1602 Sq Ft home has a backyard with 4 separate garden areas rich in compost. Home has 3 large bedrooms and 2 baths. Primary bedroom has 2 closets, natural light from windows and private bath. Den with gas fireplace and large Family Room to entertain family and friends. Yard has chain link fence with gates on either side. Conveniently located to schools, Colleges, Restaurants and the Medical District. This home is currently vacant and waiting for new owners. Whether you are searching for a primary residence or an investment opportunity this home offers plenty of value, great location and an opportunity to grow your own vegetables.

2. 2026-05-15
   status Active 717-char remark

   Show marketing remark (717 chars)

   Welcome Gardner's! Own a garden spot in the city limits of Tyler! This spacious 1602 Sq Ft home has a backyard with 4 separate garden areas rich in compost. Home has 3 large bedrooms and 2 baths. Primary bedroom has 2 closets, natural light from windows and private bath. Den with gas fireplace and large Family Room to entertain family and friends. Yard has chain link fence with gates on either side. Conveniently located to schools, Colleges, Restaurants and the Medical District. This home is currently vacant and waiting for new owners. Whether you are searching for a primary residence or an investment opportunity this home offers plenty of value, great location and an opportunity to grow your own vegetables.

3. 2026-04-01
   status Pending 717-char remark

   Show marketing remark (717 chars)

   Welcome Gardner's! Own a garden spot in the city limits of Tyler! This spacious 1602 Sq Ft home has a backyard with 4 separate garden areas rich in compost. Home has 3 large bedrooms and 2 baths. Primary bedroom has 2 closets, natural light from windows and private bath. Den with gas fireplace and large Family Room to entertain family and friends. Yard has chain link fence with gates on either side. Conveniently located to schools, Colleges, Restaurants and the Medical District. This home is currently vacant and waiting for new owners. Whether you are searching for a primary residence or an investment opportunity this home offers plenty of value, great location and an opportunity to grow your own vegetables.

4. 2026-03-27
   listed $145,000 Active 717-char remark

   Show marketing remark (717 chars)

   Welcome Gardner's! Own a garden spot in the city limits of Tyler! This spacious 1602 Sq Ft home has a backyard with 4 separate garden areas rich in compost. Home has 3 large bedrooms and 2 baths. Primary bedroom has 2 closets, natural light from windows and private bath. Den with gas fireplace and large Family Room to entertain family and friends. Yard has chain link fence with gates on either side. Conveniently located to schools, Colleges, Restaurants and the Medical District. This home is currently vacant and waiting for new owners. Whether you are searching for a primary residence or an investment opportunity this home offers plenty of value, great location and an opportunity to grow your own vegetables.

5. 2001-07-02
   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: $2,970 · $248/mo
• Projected year-2 tax: $2,970 · $248/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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥109°F today · 25 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 60% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,759
• − Mortgage interest: −$8,122
• − Property taxes: −$2,970
• − Insurance: −$725
• − Repairs & maintenance: −$1,661
• − Management: −$1,661
• − Depreciation: −$4,218
• Taxable income: $1,402
• Est. tax owed @ 24.0%: −$336
• After-tax cash flow: $3,243/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: Tyler ISD
• NCES district ID: 4843470
• Math proficiency: 39% ▼ -4.00%
• Reading proficiency: 38% ▼ -1.00%
• Median HH income: $44,090
• Composite: 32.69/100
• National rank: #5650
• State rank: #449 of 826 in TX

Livability — Tyler

• Score: 75/100
• State rank: #147
• US rank: #4181

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tyler, TX
• County: Smith County · 180,570 people
• City population: 127,842
• Metro: Tyler, TX
• Population (ZIP): 36,344
• Household income: $66,401
• Rent vs Own: 40.0% rent · 60.0% own
• Severe rent burden: 1116.0

Population outlook (Smith County) Hauer SSP2

• Today (2025): 248,890 people
• By 2030: 261,665 · +5.1%
• By 2040: 286,114 · +15.0%
• By 2050: 308,006 · +23.8%
• By 2075: 354,171 · +42.3%
• By 2100: 372,828 · +49.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: White 53% Black 21% Hispanic / Latino 19% Two or more races 8% Asian 2%
• Hispanic origin (detail): Mexican 17%
• Common ancestry: Slovak 2% Italian 1% Lithuanian 1%
• Foreign-born: 8% · Canada
• Languages at home: 84% English-only · Spanish 14% Other Indo-European 1%

Political lean MEDSL · Smith

• 2024 margin: Solid R (+45.1) · D 27.0% · R 72.1%
• 2008→2024 swing: -5.6pp toward R · 2008: -39.5pp · 2024: -45.1pp
• All cycles: 2024: R+45.1 2020: R+39.4 2016: R+43.9 2012: R+46.9 2008: R+39.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -299.78%
• Current HPI: 207.238
• Rent YoY: ▲ 3.66%
• Metro: Tyler, 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

• 2026-05-18 Pending — GTAR
• 2026-05-15 Relisted — GTAR
• 2026-04-01 Pending — GTAR
• 2026-03-27 Listed $145,000 GTAR
• 2001-07-02 Sold (Public Records) — Public Records

Property tax history

+3.3%/yr

Latest (2024): $2,970 · +7.4% YoY. Source: county tax records.