102 Preston Dr · Sanger, TX 76266

$39,900

3 bd · 2.0 ba · 1,140 sqft · Manufactured · 49 Days on market

Built 2024

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +3.8/10.0
• Livability +3.1/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• On-site management
• Built 2024
• Listed 49 days

Tags

• PET-FRIENDLY ATMOSPHERE
• PLAYGROUND FOR FAMILY
• ON-SITE MANAGEMENT
• EASY HOME-BUYING PROCESS

Property features AI

Finance

• Financial info: List price $39,900

Exterior

• Home design: Single-section home — 3 bed, 2 bath plan; Spec inventory (new construction)
• Exterior features: Living area 1,140

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 bathrooms
• Interior features: Dishwasher; Disposal; Refrigerator

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $40k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $40k).
• Recommended offer: $39k (3.0% below list) — sets the bar for market timing.
• Cap rate 40.6% vs local median 3.6% in Sanger — 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 62/100 on livability (#958 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools C-, amenities F, commute F.
• Sanger ISD (rural): math 38% / reading 47% proficiency, ranked #281 of 826 in TX (top 34%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents flat; 322 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 10,531 units permitted in Denton County in 2024 (2,713 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $276 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Denton County population projected at +66% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 0.6% rent growth), your $11k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($39k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• 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 $38,703 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 4.49% ✓
• Cap rate: 40.55%
• Cash-on-cash: 122.35%
• DSCR: 6.44
• GRM: 1.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.57% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 6.53×
• Total profit: $61,835
• Equity at exit: $5,949

10-year hold

• IRR: —
• Equity multiple: 12.70×
• Total profit: $130,664
• Equity at exit: $3,450

Cash invested: $11,172 (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 76266

• Home prices YoY: -18.2%
• Rents YoY: 0.6%
• Active inventory: 322
• Price-to-rent: 1.9×

Monthly cashflow live

• Estimated rent: $1,791 high
• Mortgage (P&I): −$209
• Tax est. 1.5%: −$50 /mo · $598/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$376
• Net cashflow: $1,139

Break-even live

Break-even rent $349

Max offer price $39,900

Occupancy floor 31%

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: $9,975
• Closing costs: $1,197
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
102 Preston Dr Unit PREST102 Sanger, TX	3.0	2.0	1140	$1,479	$1.30	24d	1	0.03mi
119 Ponderosa Way Unit POND119 Sanger, TX	3.0	2.0	1152	$1,549	$1.34	43d	1	0.14mi
134 Ponderosa Way Unit POND134 Sanger, TX	3.0	2.0	1216	$1,549	$1.27	24d	1	0.15mi
821 Vernon Ct Sanger, TX	3.0	1.0	1077	$1,800	$1.67	3d	1	0.30mi
1806 Sand Stone Dr Sanger, TX	3.0	2.0	1474	$2,100	$1.42	24d	1	0.35mi
114 Southmanor Ct Sanger, TX	3.0	1.0	1200	$1,675	$1.40	12d	1	0.39mi
202 Carolyn Dr Sanger, TX	3.0	2.0	1265	$1,581	$1.25	7d	1	0.46mi
2012 Benjamin Dr Sanger, TX	3.0	2.0	1218	$2,095	$1.72	43d	1	0.52mi
2029 Laney Dr Sanger, TX	3.0	2.0	1213	$2,000	$1.65	3d	1	0.62mi
204 Hillcrest St Sanger, TX	3.0	2.0	1302	$1,875	$1.44	43d	1	0.70mi
140 Ringneck Dr Sanger, TX	3.0	2.0	1466	$1,785	$1.22	20d	1	0.81mi
1102 First St Sanger, TX	3.0	2.0	1386	$1,999	$1.44	2d	1	1.05mi
203 W Willow St Sanger, TX	3.0	1.0	1135	$1,650	$1.45	12d	1	1.10mi
105 S 3rd St Sanger, TX	3.0	1.0	960	$1,550	$1.61	24d	1	1.10mi
2014 Jackson LN Sanger, TX	1.0–3.0	1.0–2.0	1136	$2,428	$2.14	1d	40	1.35mi
909 N 6th St Sanger, TX	3.0	2.0	1200	$1,800	$1.50	12d	1	1.41mi

Listing history 14 events

1. 2026-06-18
   days on market $39,900 Active 49 DOM
2. 2026-06-17
   days on market $39,900 Active 48 DOM
3. 2026-06-16
   days on market $39,900 Active 47 DOM
4. 2026-06-15
   days on market $39,900 Active 46 DOM
5. 2026-06-13
   days on market $39,900 Active 44 DOM
6. 2026-06-13
   days on market $39,900 Active 43 DOM
7. 2026-06-09
   days on market $39,900 Active 40 DOM
8. 2026-06-08
   days on market $39,900 Active 39 DOM
9. 2026-06-07
   days on market $39,900 Active 38 DOM
10. 2026-06-04
    days on market $39,900 Active 35 DOM
11. 2026-06-03
    days on market $39,900 Active 34 DOM
12. 2026-06-02
    days on market $39,900 Active 33 DOM
13. 2026-06-01
    days on market $39,900 Active 32 DOM
14. 2026-05-31
    days on market $39,900 Active 31 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥110°F today · 22 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 19% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,491
• − Mortgage interest: −$2,235
• − Property taxes: −$598
• − Insurance: −$200
• − Repairs & maintenance: −$1,719
• − Management: −$1,719
• − Depreciation: −$1,161
• Taxable income: $13,859
• Est. tax owed @ 24.0%: −$3,326
• After-tax cash flow: $10,343/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: Sanger ISD
• NCES district ID: 4839180
• Math proficiency: 38% ▼ -13.00%
• Reading proficiency: 47% ▼ -2.00%
• Median HH income: $62,803
• Composite: 37.76/100
• National rank: #4349
• State rank: #281 of 826 in TX

Livability — Sanger

• Score: 62/100
• State rank: #958
• US rank: #16973

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sanger, TX
• County: Denton County · 901,654 people
• City population: 18,155
• Metro: Dallas-Fort Worth-Arlington, TX
• Population (ZIP): 18,155
• Household income: $99,425
• Rent vs Own: 18.6% rent · 81.4% own
• Severe rent burden: 325.0

Population outlook (Denton County) Hauer SSP2

• Today (2025): 1,053,010 people
• By 2030: 1,192,269 · +13.2%
• By 2040: 1,472,920 · +39.9%
• By 2050: 1,746,506 · +65.9%
• By 2075: 2,358,497 · +124.0%
• By 2100: 2,779,183 · +163.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 18% Two or more races 10% Black 5% Asian 1%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Italian 4% Iranian 2% Lithuanian 2%
• Foreign-born: 8% · Canada
• Languages at home: 86% English-only · Spanish 11% Other Indo-European 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Denton

• 2024 margin: R (+13.2) · D 42.7% · R 55.8% · Other 1.5%
• 2008→2024 swing: +11.0pp toward D · 2008: -24.2pp · 2024: -13.2pp
• All cycles: 2024: R+13.2 2020: R+8.1 2016: R+20.2 2012: R+31.7 2008: R+24.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -63.07%
• Current HPI: 284.2146
• Rent YoY: ▲ 0.57%
• Metro: Dallas-Fort Worth-Arlington, 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