921 Indian Dr · Granbury, TX 76048

$240,000

3 bd · 2.0 ba · 1,364 sqft · SingleFamily public records · 73 Days on market

Built 2023 5,924 sqft lot $176/sqft · at area comps Est $242k · at est. $8/mo HOA

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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 +12.9/30.0
• ARV discount +7.8/15.0
• Schools +4.0/10.0
• DSCR +3.9/10.0
• 1% rule +3.3/10.0
• Livability +3.3/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

MAJOR UPDATE, IMPROVED PRICE!!! Welcome to this beautifully maintained, like new home offering the perfect blend of comfort, style, and convenience! Built just 3 years ago, this 3-bedroom, 2-bath home features a desirable open-concept layout ideal for both everyday living and entertaining. The spacious kitchen flows seamlessly into the living and dining areas and includes a large pantry for added storage. The split-bedroom arrangement provides privacy, while the primary suite offers a relaxing retreat with a walk-in shower and well-appointed finishes. Enjoy energy-efficient features that help keep utility costs down, along with a fenced backyard perfect for pets, play, or outdoor gatherings. Nestled on a quiet street, this home offers peaceful living just minutes from the Historic Granbury Square, local shopping, dining, entertainment, grocery stores, and beautiful Lake Granbury. Affordable HOA fees include park, pool and maintenance on all common areas and road maintenance . Conveniently located just over an hour from downtown Fort Worth, this home truly offers the best of small-town charm with easy access to city amenities. Don’t miss your opportunity to make it yours!

Key facts

• Quiet street
• Large pantry
• Walk-in shower

Tags

• OPEN-CONCEPT LAYOUT
• LARGE PANTRY
• SPLIT-BEDROOM ARRANGEMENT
• WALK-IN SHOWER
• FENCED BACKYARD
• QUIET STREET

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $240k.

Deal economics

• At list price, monthly cash flow is $-17 ($-204/yr) — negative.
• To cash-flow at today's rent, offer at most $237k (1.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $200k (16.8% below list).
• Recommended offer: $200k (16.8% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 3.8% in Granbury — 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 66/100 on livability (#628 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, crime D+, amenities F.
• Granbury ISD (town): math 46% / reading 46% proficiency, ranked #237 of 826 in TX (top 29%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Mambrino School (math 53% / reading 48%, grade D+, #833 of 4,322 statewide, top 20%, 886 students, 53% FRL); Granbury Middle (math 35% / reading 40%, grade F, #736 of 1,662 statewide, top 45%, 846 students, 68% FRL); Granbury H S (math 38% / reading 51%, grade F, #652 of 1,632 statewide, top 43%, 2,202 students, 46% FRL).
• Market conditions: Rents rising (+1.1%/yr); 930 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% of comp listings sitting > 30 days — soft ceiling on asking rent; 125 units permitted in Hood County in 2024 (0 in 5+ unit buildings).
• This rent runs 34% of the median local income ($70k/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 $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Hood County population projected at +29% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 73 days — a 6% lower offer ($226k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 10y ago; this cycle's ask has dropped $30k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 6→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $199,783 (16.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 73 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.83% ✗
• Cap rate: 6.21%
• Cash-on-cash: -0.30%
• DSCR: 0.99
• GRM: 10.0

CMA / ARV

• ARV (median comp): $241,680
• List price: $240,000
• Delta: -0.70%
• 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
840 Tepee Trl	0.12mi	3/2.0	1,436 (+5%)	4mo	$235,000	$164	82
922 Scenic Dr	0.22mi	3/2.0	1,392 (+2%)	6mo	$230,000	$165	81
1101 Apache Ridge Rd	0.34mi	3/2.0	1,373 (+1%)	6mo	$234,900	$171	78
4001 Marana Dr	0.33mi	3/2.0	1,412 (+4%)	2mo	$320,000	$227	77
3605 Durango Trl	0.28mi	3/2.0	1,292 (-5%)	4mo	$225,000	$174	75
3611 Broken Bow Dr	0.15mi	3/2.0	1,516 (+11%)	2mo	$275,000	$181	73
807 Rock Harbor Dr	0.50mi	3/2.0	1,400 (+3%)	1mo	$244,900	$175	72
1103 Laramie Ct	0.32mi	3/2.0	1,493 (+10%)	5mo	$285,000	$191	65
809 Arrowhead Ct	0.38mi	3/2.0	1,250 (-8%)	5mo	$229,900	$184	64
820 Blackfoot Ct	0.33mi	3/2.0	1,524 (+12%)	3mo	$214,900	$141	62
3527 Flint Rock Cir	0.61mi	3/2.0	1,320 (-3%)	5mo	$240,000	$182	62
4109 Seminole Trl	0.72mi	3/2.0	1,362 (-0%)	6mo	$234,999	$173	61

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 · 1.1% rent growth · sell at horizon

5-year hold

• IRR: -18.9%
• Equity multiple: 0.35×
• Total profit: $-43,728
• Equity at exit: $35,785

10-year hold

• IRR: -15.6%
• Equity multiple: 0.19×
• Total profit: $-54,311
• Equity at exit: $20,751

Cash invested: $67,200 (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 76048

• Home prices YoY: -23.4%
• Rents YoY: 1.1%
• Active inventory: 930
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $1,998 high
• Mortgage (P&I): −$1,259
• Tax from tax record: −$229 /mo · $2,744/yr
• Insurance: −$100
• HOA: −$8
• Vacancy / Maint / Mgmt: −$420
• Net cashflow: $-17

Break-even live

Break-even rent $2,019

Max offer price $237,002

Occupancy floor 96%

Sensitivity live

Price	-10% $119	-5% $51	+0% $-17	+5% $-85	+10% $-153
Rent	-10% $-175	-5% $-96	+0% $-17	+5% $62	+10% $141
Rate	-1.0pp $104	-0.5pp $44	base $-17	+0.5pp $-79	+1.0pp $-142

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: $60,000
• Closing costs: $7,200
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3607 Sioux Trl Granbury, TX	3.0	2.5	1860	$2,100	$1.13	9d	1	0.29mi
4014 Mountain Vista Dr Granbury, TX	3.0	2.0	1575	$1,495	$0.95	45d	1	0.96mi
1418 Cheyenne Trl Granbury, TX	3.0	2.0	1826	$2,400	$1.31	45d	1	0.98mi
408 Heritage Trl Granbury, TX	3.0	2.0	1635	$1,890	$1.16	23d	1	1.40mi
4710 Llano St Granbury, TX	3.0	2.0	1456	$1,775	$1.22	45d	1	1.47mi

HOA detail

• Monthly dues: $8 · $96/yr
• Likely covers: pool

Listing history 30 events

1. 2026-06-21
   days on market $240,000 Active 73 DOM
2. 2026-06-18
   days on market $240,000 Active 70 DOM
3. 2026-06-17
   days on market $240,000 Active 69 DOM
4. 2026-06-16
   days on market $240,000 Active 68 DOM
5. 2026-06-15
   days on market $240,000 Active 67 DOM
6. 2026-06-13
   days on market $240,000 Active 65 DOM
7. 2026-06-09
   days on market $240,000 Active 61 DOM
8. 2026-06-08
   days on market $240,000 Active 60 DOM
9. 2026-06-07
   days on market $240,000 Active 59 DOM
10. 2026-06-04
    days on market $240,000 Active 56 DOM
11. 2026-06-03
    days on market $240,000 Active 55 DOM
12. 2026-06-02
    days on market $240,000 Active 54 DOM
13. 2026-06-02
    days on market $240,000 Active 53 DOM
14. 2026-05-31
    days on market $240,000 Active 52 DOM
15. 2026-05-18
    price $240,000 1195-char remark

    Show marketing remark (1195 chars)

    MAJOR UPDATE, IMPROVED PRICE!!! Welcome to this beautifully maintained, like new home offering the perfect blend of comfort, style, and convenience! Built just 3 years ago, this 3-bedroom, 2-bath home features a desirable open-concept layout ideal for both everyday living and entertaining. The spacious kitchen flows seamlessly into the living and dining areas and includes a large pantry for added storage. The split-bedroom arrangement provides privacy, while the primary suite offers a relaxing retreat with a walk-in shower and well-appointed finishes. Enjoy energy-efficient features that help keep utility costs down, along with a fenced backyard perfect for pets, play, or outdoor gatherings. Nestled on a quiet street, this home offers peaceful living just minutes from the Historic Granbury Square, local shopping, dining, entertainment, grocery stores, and beautiful Lake Granbury. Affordable HOA fees include park, pool and maintenance on all common areas and road maintenance . Conveniently located just over an hour from downtown Fort Worth, this home truly offers the best of small-town charm with easy access to city amenities. Don’t miss your opportunity to make it yours!

16. 2026-04-23
    price $249,999 1195-char remark

    Show marketing remark (1195 chars)

    MAJOR UPDATE, IMPROVED PRICE!!! Welcome to this beautifully maintained, like new home offering the perfect blend of comfort, style, and convenience! Built just 3 years ago, this 3-bedroom, 2-bath home features a desirable open-concept layout ideal for both everyday living and entertaining. The spacious kitchen flows seamlessly into the living and dining areas and includes a large pantry for added storage. The split-bedroom arrangement provides privacy, while the primary suite offers a relaxing retreat with a walk-in shower and well-appointed finishes. Enjoy energy-efficient features that help keep utility costs down, along with a fenced backyard perfect for pets, play, or outdoor gatherings. Nestled on a quiet street, this home offers peaceful living just minutes from the Historic Granbury Square, local shopping, dining, entertainment, grocery stores, and beautiful Lake Granbury. Affordable HOA fees include park, pool and maintenance on all common areas and road maintenance . Conveniently located just over an hour from downtown Fort Worth, this home truly offers the best of small-town charm with easy access to city amenities. Don’t miss your opportunity to make it yours!

17. 2026-04-14
    price $255,000 1195-char remark

    Show marketing remark (1195 chars)

    MAJOR UPDATE, IMPROVED PRICE!!! Welcome to this beautifully maintained, like new home offering the perfect blend of comfort, style, and convenience! Built just 3 years ago, this 3-bedroom, 2-bath home features a desirable open-concept layout ideal for both everyday living and entertaining. The spacious kitchen flows seamlessly into the living and dining areas and includes a large pantry for added storage. The split-bedroom arrangement provides privacy, while the primary suite offers a relaxing retreat with a walk-in shower and well-appointed finishes. Enjoy energy-efficient features that help keep utility costs down, along with a fenced backyard perfect for pets, play, or outdoor gatherings. Nestled on a quiet street, this home offers peaceful living just minutes from the Historic Granbury Square, local shopping, dining, entertainment, grocery stores, and beautiful Lake Granbury. Affordable HOA fees include park, pool and maintenance on all common areas and road maintenance . Conveniently located just over an hour from downtown Fort Worth, this home truly offers the best of small-town charm with easy access to city amenities. Don’t miss your opportunity to make it yours!

18. 2026-04-09
    listed $270,000 Active 1195-char remark

    Show marketing remark (1195 chars)

    MAJOR UPDATE, IMPROVED PRICE!!! Welcome to this beautifully maintained, like new home offering the perfect blend of comfort, style, and convenience! Built just 3 years ago, this 3-bedroom, 2-bath home features a desirable open-concept layout ideal for both everyday living and entertaining. The spacious kitchen flows seamlessly into the living and dining areas and includes a large pantry for added storage. The split-bedroom arrangement provides privacy, while the primary suite offers a relaxing retreat with a walk-in shower and well-appointed finishes. Enjoy energy-efficient features that help keep utility costs down, along with a fenced backyard perfect for pets, play, or outdoor gatherings. Nestled on a quiet street, this home offers peaceful living just minutes from the Historic Granbury Square, local shopping, dining, entertainment, grocery stores, and beautiful Lake Granbury. Affordable HOA fees include park, pool and maintenance on all common areas and road maintenance . Conveniently located just over an hour from downtown Fort Worth, this home truly offers the best of small-town charm with easy access to city amenities. Don’t miss your opportunity to make it yours!

19. 2023-02-28
    soldstatus
20. 2022-01-11
    soldstatus
21. 2022-01-07
    soldstatus Sold 260-char remark

    Show marketing remark (260 chars)

    Always dreamed of living by the lake, or maybe just a summer get away cabin for the family? Cute neighborhood nestled by the lake, has 2 boat ramps and 2 parks. Buyer or agent to verify all information. Requires septic installation and connection to utilities.

22. 2021-12-18
    status Pending 260-char remark

    Show marketing remark (260 chars)

    Always dreamed of living by the lake, or maybe just a summer get away cabin for the family? Cute neighborhood nestled by the lake, has 2 boat ramps and 2 parks. Buyer or agent to verify all information. Requires septic installation and connection to utilities.

23. 2021-10-10
    price $10,000 260-char remark

    Show marketing remark (260 chars)

    Always dreamed of living by the lake, or maybe just a summer get away cabin for the family? Cute neighborhood nestled by the lake, has 2 boat ramps and 2 parks. Buyer or agent to verify all information. Requires septic installation and connection to utilities.

24. 2021-07-15
    listed $15,000 Active 260-char remark

    Show marketing remark (260 chars)

    Always dreamed of living by the lake, or maybe just a summer get away cabin for the family? Cute neighborhood nestled by the lake, has 2 boat ramps and 2 parks. Buyer or agent to verify all information. Requires septic installation and connection to utilities.

25. 2019-05-01
    soldstatus
26. 2019-04-16
    historical
27. 2016-10-01
    price $2,500
28. 2016-03-25
    listed $3,000 Active
29. 2012-08-03
    soldstatus
30. 1988-12-06
    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: $2,744 · $229/mo
• Projected year-2 tax: $4,392 · $366/mo
• Expected delta: +$1,648/yr (+$137/mo · 60.1%)

ⓘ 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 5/10 Major
• 🌡 Heat 6/10 Major 6 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,974
• − Mortgage interest: −$13,444
• − Property taxes: −$2,744
• − Insurance: −$1,200
• − Repairs & maintenance: −$1,918
• − Management: −$1,918
• − HOA: −$96
• − Depreciation: −$6,982
• Taxable loss: −$4,327
• Est. tax savings @ 24.0%: +$1,039
• After-tax cash flow: $835/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: Granbury ISD
• NCES district ID: 4821390
• Math proficiency: 46% ▬ 0.00%
• Reading proficiency: 46% ▲ 4.00%
• Median HH income: $55,856
• Composite: 40.04/100
• National rank: #3820
• State rank: #237 of 826 in TX

Livability — Granbury

• Score: 66/100
• State rank: #628
• US rank: #11998

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Hood County · 58,506 people
• City population: 58,506
• Metro: Granbury, TX
• Population (ZIP): 27,000
• Household income: $70,346
• Rent vs Own: 26.4% rent · 73.6% own
• Severe rent burden: 612.0

Population outlook (Hood County) Hauer SSP2

• Today (2025): 63,502 people
• By 2030: 67,459 · +6.2%
• By 2040: 74,958 · +18.0%
• By 2050: 81,922 · +29.0%
• By 2075: 98,872 · +55.7%
• By 2100: 107,796 · +69.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Hispanic / Latino 14% Two or more races 11% Black 1%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Italian 2% Slovak 2% Portuguese 1%
• Foreign-born: 4% · Canada
• Languages at home: 89% English-only · Spanish 10%

Political lean MEDSL · Hood

• 2024 margin: Solid R (+66.0) · D 16.6% · R 82.6%
• 2008→2024 swing: -11.9pp toward R · 2008: -54.0pp · 2024: -66.0pp
• All cycles: 2024: R+66.0 2020: R+64.1 2016: R+66.5 2012: R+64.7 2008: R+54.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -83.25%
• Current HPI: 272.2126
• Rent YoY: ▲ 1.10%
• Metro: Granbury, 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

+7900.0% since first listed

16 events — show timeline

• 2026-05-18 Price Changed $240,000 NTREIS
• 2026-04-23 Price Changed $249,999 NTREIS
• 2026-04-14 Price Changed $255,000 NTREIS
• 2026-04-09 Listed $270,000 NTREIS
• 2023-02-28 Sold (Public Records) — Public Records
• 2022-01-11 Sold (Public Records) — Public Records
• 2022-01-07 Sold (MLS) — NTREIS
• 2021-12-18 Pending — NTREIS
• 2021-10-10 Price Changed $10,000 NTREIS
• 2021-07-15 Listed $15,000 NTREIS
• 2019-05-01 Sold (Public Records) — Public Records
• 2019-04-16 Listing Removed — NTREIS
• 2016-10-01 Price Changed $2,500 NTREIS
• 2016-03-25 Listed $3,000 NTREIS
• 2012-08-03 Sold (Public Records) — Public Records
• 1988-12-06 Sold (Public Records) — Public Records

Property tax history

+38.6%/yr

Latest (2025): $2,744 · +0.8% YoY. Source: county tax records.