802-804 Plum St · Sanger, TX 76266

$185,000

1 bd · 1.0 ba · 1,100 sqft · MultiFamily public records · 29 Days on market

Built 1970 7,000 sqft lot $168/sqft · 11% below area Est $209k · 11% 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 +30.0/30.0
• ARV discount +12.6/15.0
• DSCR +10.0/10.0
• 1% rule +9.9/10.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Investor-ready duplex in the heart of Sanger! This fantastic opportunity features a full duplex at 802–804 Plum St, with each unit offering a well-designed 1-bedroom, 1-bath layout. Both units include a comfortable living area, full kitchen, and dedicated laundry space, providing convenience and privacy for tenants. Each side is independently equipped with its own HVAC system, water heater, and electrical panel—an ideal setup for ease of management and reduced shared maintenance concerns. Whether you're looking to expand your rental portfolio or live in one unit while leasing the other, this property offers flexibility and strong income potential. Don’t miss this chance

Key facts

• 7,000 sq ft lot
• 2 garage spots
• Built 1970

Property features AI

Finance

• Financial info: Treat as clear loan status; No second mortgage
• HOA & community: No homeowners association

Exterior

• Parking: Two covered parking spaces; Two-car garage; Driveway
• Utilities: City water; City sewer; Electricity available; Not in a municipal utility district
• Home design: Single-family residence; Residential property; One story; Preowned (built in 1970); Property is not attached
• Construction: Built in 1970
• Exterior features: Lot under 0.5 acre (approximately 0.1607 acres); Public-record lot information; Subdivision: Sullivan West

Interior

• Kitchen: Electric range; Gas range; Microwave; Refrigerator; Built-in cabinets
• Bedrooms: One bedroom located on the main level with a walk-in closet
• Bathrooms: One full bathroom on the main level with built-in cabinets
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Cable TV available; Tile countertops; Five total rooms; Two living areas; Two dining areas; One-level layout
• Laundry & utility: Utility room on the main level with built-in cabinets; Electric dryer hookup; Gas dryer hookup

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath multifamily listed at $185k.

Deal economics

• At list price, monthly cash flow is $844 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $185k).
• Recommended offer: $182k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.8% 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; 2 comparable units currently listed for rent nearby; solid renter incomes; 10,531 units permitted in Denton County in 2024 (2,713 in 5+ unit buildings).
• This rent runs 33% of the median local income ($99k/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.
• 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 $52k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 29 days — a 2% 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→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $182,225 (1.5% below list)

Questions for the listing agent

1. Built in 1970 — 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. 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.
4. 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.
5. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.49% ✓
• Cap rate: 11.77%
• Cash-on-cash: 19.55%
• DSCR: 1.87
• GRM: 5.6

CMA / ARV

• ARV (median comp): $208,552
• List price: $185,000
• Delta: -11.29%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 8.8%
• Equity multiple: 1.33×
• Total profit: $17,284
• Equity at exit: $27,584

10-year hold

• IRR: 15.8%
• Equity multiple: 2.14×
• Total profit: $58,899
• Equity at exit: $15,995

Cash invested: $51,800 (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: 11.2×

Monthly cashflow live

• Estimated rent: $2,751 medium
• Mortgage (P&I): −$970
• Tax from tax record: −$282 /mo · $3,384/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$578
• Net cashflow: $844

Break-even live

Break-even rent $1,683

Max offer price $185,000

Occupancy floor 64%

Sensitivity live

Price	-10% $949	-5% $896	+0% $844	+5% $792	+10% $739
Rent	-10% $627	-5% $735	+0% $844	+5% $953	+10% $1,061
Rate	-1.0pp $937	-0.5pp $891	base $844	+0.5pp $796	+1.0pp $747

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$2,750
Total (2 units)			$2,751

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2014 Jackson LN Sanger, TX	1.0–3.0	1.0–2.0	1136	$1,304	$1.15	2d	40	0.46mi
11501 Marion Rd Sanger, TX	1.0–2.0	1.0–2.0	899	$974	$1.08	2d	10	1.43mi

Listing history 8 events

1. 2026-06-04
   days on market $185,000 Active 29 DOM
2. 2026-06-03
   days on market $185,000 Active 28 DOM
3. 2026-06-02
   days on market $185,000 Active 27 DOM
4. 2026-06-01
   days on market $185,000 Active 26 DOM
5. 2026-05-31
   days on market $185,000 Active 25 DOM
6. 2026-05-13
   historical Active Option Contract 762-char remark
7. 2026-04-25
   listed $185,000 Active 762-char remark
8. 2022-04-20
   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: $3,384 · $282/mo
• Projected year-2 tax: $3,386 · $282/mo
• Expected delta: +$1/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 7/10 Severe 7 d/yr ≥111°F today · 21 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 17% 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: $33,012
• − Mortgage interest: −$10,363
• − Property taxes: −$3,384
• − Insurance: −$925
• − Repairs & maintenance: −$2,641
• − Management: −$2,641
• − Depreciation: −$5,382
• Taxable income: $7,676
• Est. tax owed @ 24.0%: −$1,842
• After-tax cash flow: $8,286/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

Price history

5 events — show timeline

• 2026-06-05 Listing Removed — NTREIS
• 2026-05-22 Relisted — NTREIS
• 2026-05-13 Contingent — NTREIS
• 2026-04-25 Listed $185,000 NTREIS
• 2022-04-20 Sold (Public Records) — Public Records

Property tax history

+5.5%/yr

Latest (2025): $3,384 · +6.5% YoY. Source: county tax records.