411 W Hester St · Sherman, TX 75090

$99,999

2 bd · 1.0 ba · 748 sqft · SingleFamily public records · 117 Days on market

Built 1920 0.34 ac lot $134/sqft · 15% below area Est $117k · 15% under ↓ 25% since listing

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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 +17.5/30.0
• ARV discount +14.1/15.0
• 1% rule +5.9/10.0
• DSCR +5.5/10.0
• 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

Charming 1920 starter home set on a large 0.34 acre lot, offering endless potential for renovation or new construction. This property features mature trees, city utilities, and a spacious backyard, perfect for investors or buyers looking to create their ideal space. Located just minutes from downtown Sherman, schools, and major conveniences.

Key facts

• City utilities
• Large 0.34 acre lot
• Spacious backyard

Tags

• LARGE 0.34 ACRE LOT
• MATURE TREES
• CITY UTILITIES
• SPACIOUS BACKYARD
• MINUTES FROM DOWNTOWN SHERMAN

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $77 ($920/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $91k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.2% 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-, schools D-.
• 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.
• Market conditions: Rents soft (-2.7%/yr); 473 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k 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 117 days — a 9% lower offer ($91k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $33k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• 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 $90,999 (9.0% below list)

Questions for the listing agent

1. It's been on market 117 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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: 1.09% ✓
• Cap rate: 7.21%
• Cash-on-cash: 3.28%
• DSCR: 1.15
• GRM: 7.7

CMA / ARV

• ARV (median comp): $117,266
• List price: $99,999
• Delta: -14.72%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
617 S Austin St	0.65mi	2/1.0	766 (+2%)	6mo	$80,000	$104	60
826 S Lyon St	0.50mi	1/1.0 (-1)	700 (-6%)	16mo	$114,000	$163	48
600 S Contemporary Dr	0.71mi	2/1.0	800 (+7%)	10mo	$149,900	$187	47

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: -14.9%
• Equity multiple: 0.48×
• Total profit: $-14,439
• Equity at exit: $14,910

10-year hold

• IRR: -13.2%
• Equity multiple: 0.35×
• Total profit: $-18,316
• Equity at exit: $8,646

Cash invested: $28,000 (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: 473
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,088 high
• Mortgage (P&I): −$524
• Tax from tax record: −$217 /mo · $2,603/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$229
• Net cashflow: $77

Break-even live

Break-even rent $991

Max offer price $99,999

Occupancy floor 88%

Sensitivity live

Price	-10% $133	-5% $105	+0% $77	+5% $48	+10% $20
Rent	-10% $-9	-5% $34	+0% $77	+5% $120	+10% $163
Rate	-1.0pp $127	-0.5pp $102	base $77	+0.5pp $51	+1.0pp $24

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
816 S Crockett St #3 Sherman, TX	1.0	1.0	600	$675	$1.12	45d	1	0.45mi
1006 S Throckmorton St Sherman, TX	2.0	1.0	705	$1,026	$1.46	44d	1	0.76mi
515 S 1st St Unit 8 Sherman, TX	1.0	1.0	500	$950	$1.90	44d	1	0.91mi
2700 S Travis St Sherman, TX	1.0–2.0	1.0–2.0	882	$950	$1.08	21d	1	1.14mi
410 S Vaden St Unit A Sherman, TX	1.0	1.0	700	$850	$1.21	44d	1	1.21mi
2151 W Moore St Sherman, TX	1.0–2.0	1.0–2.0	840	$1,300	$1.55	21d	1	1.41mi

Listing history 22 events

1. 2026-06-19
   days on market $99,999 Active 117 DOM
2. 2026-06-18
   days on market $99,999 Active 116 DOM
3. 2026-06-17
   days on market $99,999 Active 115 DOM
4. 2026-06-16
   days on market $99,999 Active 114 DOM
5. 2026-06-15
   days on market $99,999 Active 113 DOM
6. 2026-06-14
   days on market $99,999 Active 111 DOM
7. 2026-06-13
   days on market $99,999 Active 110 DOM
8. 2026-06-10
   days on market $99,999 Active 108 DOM
9. 2026-06-09
   days on market $99,999 Active 107 DOM
10. 2026-06-08
    days on market $99,999 Active 106 DOM
11. 2026-06-07
    days on market $99,999 Active 105 DOM
12. 2026-06-03
    days on market $99,999 Active 101 DOM
13. 2026-06-02
    days on market $99,999 Active 100 DOM
14. 2026-06-01
    days on market $99,999 Active 99 DOM
15. 2026-05-31
    days on market $99,999 Active 98 DOM
16. 2026-05-30
    days on market $99,999 Active 97 DOM
17. 2026-05-11
    price $99,999 343-char remark

    Show marketing remark (343 chars)

    Charming 1920 starter home set on a large 0.34 acre lot, offering endless potential for renovation or new construction. This property features mature trees, city utilities, and a spacious backyard, perfect for investors or buyers looking to create their ideal space. Located just minutes from downtown Sherman, schools, and major conveniences.

18. 2026-04-27
    price $105,999 343-char remark

    Show marketing remark (343 chars)

    Charming 1920 starter home set on a large 0.34 acre lot, offering endless potential for renovation or new construction. This property features mature trees, city utilities, and a spacious backyard, perfect for investors or buyers looking to create their ideal space. Located just minutes from downtown Sherman, schools, and major conveniences.

19. 2026-04-27
    status Active 343-char remark

    Show marketing remark (343 chars)

    Charming 1920 starter home set on a large 0.34 acre lot, offering endless potential for renovation or new construction. This property features mature trees, city utilities, and a spacious backyard, perfect for investors or buyers looking to create their ideal space. Located just minutes from downtown Sherman, schools, and major conveniences.

20. 2026-01-13
    price $119,999 343-char remark

    Show marketing remark (343 chars)

    Charming 1920 starter home set on a large 0.34 acre lot, offering endless potential for renovation or new construction. This property features mature trees, city utilities, and a spacious backyard, perfect for investors or buyers looking to create their ideal space. Located just minutes from downtown Sherman, schools, and major conveniences.

21. 2025-11-24
    listed $132,999 Active 343-char remark

    Show marketing remark (343 chars)

    Charming 1920 starter home set on a large 0.34 acre lot, offering endless potential for renovation or new construction. This property features mature trees, city utilities, and a spacious backyard, perfect for investors or buyers looking to create their ideal space. Located just minutes from downtown Sherman, schools, and major conveniences.

22. 2020-12-11
    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: $2,603 · $217/mo
• Projected year-2 tax: $2,603 · $217/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 6/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥108°F today · 22 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 22% 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: $13,058
• − Mortgage interest: −$5,601
• − Property taxes: −$2,603
• − Insurance: −$500
• − Repairs & maintenance: −$1,045
• − Management: −$1,045
• − Depreciation: −$2,909
• Taxable loss: −$645
• Est. tax savings @ 24.0%: +$155
• After-tax cash flow: $1,074/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

-24.8% since first listed

6 events — show timeline

• 2026-05-11 Price Changed $99,999 NTREIS
• 2026-04-27 Price Changed $105,999 NTREIS
• 2026-04-27 Relisted — NTREIS
• 2026-01-13 Price Changed $119,999 NTREIS
• 2025-11-24 Listed $132,999 NTREIS
• 2020-12-11 Sold (Public Records) — Public Records

Property tax history

+10.2%/yr

Latest (2025): $2,603 · -0.4% YoY. Source: county tax records.