4524 Elementary Dr · Southmayd, TX 76268

$175,000

3 bd · 2.0 ba · 1,456 sqft · Manufactured public records · 39 Days on market

Built 1992 0.53 ac lot $120/sqft · 5% below area Est $185k · 5% under

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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).

• ARV discount +9.9/15.0
• Cash flow +8.9/30.0
• Appreciation +5.0/10.0
• Schools +3.5/10.0
• Livability +3.3/5.0
• 1% rule +2.9/10.0
• DSCR +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

3 bedroom, 2 bath, Double wide on large corner lot. House has covered front porch and large cover deck off the back. Covered parking with large metal building and shed. Large kitchen and Master bath has large garden tub. Within walking distance to elementary school.

Key facts

• Double carport
• Flagstone landing
• Covered rear deck

Tags

• COVERED REAR DECK
• FLAGSTONE LANDING
• DOUBLE CARPORT
• HEAVY DUTY METAL WORKSHOP
• WALK-IN SHOWER
• BUTCHER BLOCK COUNTERTOP

Property features AI

Finance

• Financial info: Listing available for cash or conventional financing; Survey available
• HOA & community: No homeowners association

Exterior

• Parking: Detached carport; 1-car garage; 1 carport space; 2 covered parking spaces
• Utilities: City water with individual water meter; Private septic (aerobic); Electricity connected; Natural gas available; Cable available; Phone available; All-weather road access; Asphalt access
• Home design: Single family residence; One story; Accessory unit on site
• Construction: Built in 1992; Preowned condition
• Exterior features: Covered deck; Covered front and rear porches; Deck; Storage; Other exterior features; Corner lot; Level lot; Large backyard with grass; Subdivision; Undivided lot

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Solid surface / non-natural countertops; Kitchen island; Pantry; Eat-in area
• Bedrooms: 3 bedrooms (all on main level)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air; Ceiling fan(s)
• Interior features: Open floorplan; Eat-in kitchen; Kitchen island; Built-in cabinets; Pantry; Paneling; Walk-in closet(s); Cable TV available; High speed internet available
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $175k.

Deal economics

• At list price, monthly cash flow is $-142 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $150k (14.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $138k (21.1% below list).
• Recommended offer: $138k (21.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 66/100 on livability (#610 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• S And S CISD (rural): math 37% / reading 42% proficiency, ranked #381 of 826 in TX (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: S And S Cons El (math 27% / reading 32%, grade F, #2,525 of 4,322 statewide, top 62%, 331 students, 49% FRL); S And S Cons Middle (math 40% / reading 42%, grade F, #613 of 1,662 statewide, top 38%, 312 students, 48% FRL); S And S Cons H S (math 52% / reading 62%, grade C, #333 of 1,632 statewide, top 22%, 300 students, 32% FRL) — zoned schools at 43% FRL track the district average.
• Market conditions: 9 active listings in the ZIP; 2,272 units permitted in Grayson County in 2024 (750 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($1k loan paydown + $5k appreciation (3.0% local appreciation)).
• Grayson County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 6, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($170k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 23y ago 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: moderate wind risk, 26% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $138,025 (21.1% 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 39 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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?
6. 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.
7. 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.
8. 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: 0.79% ✗
• Cap rate: 5.32%
• Cash-on-cash: -3.48%
• DSCR: 0.85
• GRM: 10.6

CMA / ARV

• ARV (median comp): $185,000
• List price: $175,000
• Delta: -5.41%
• Verdict: FAIR
• Comps: 11 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
101 Christi Dr	0.38mi	3/2.0	1,568 (+8%)	10mo	$110,000	$70	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 4.3%
• Equity multiple: 1.25×
• Total profit: $12,067
• Equity at exit: $78,688

10-year hold

• IRR: 7.5%
• Equity multiple: 2.14×
• Total profit: $55,715
• Equity at exit: $121,267

Cash invested: $49,000 (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 76268

• Active inventory: 9
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $1,380 medium
• Mortgage (P&I): −$918
• Tax from tax record: −$242 /mo · $2,902/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$290
• Net cashflow: $-142

Break-even live

Break-even rent $1,560

Max offer price $149,900

Occupancy floor —

Sensitivity live

Price	-10% $-43	-5% $-93	+0% $-142	+5% $-192	+10% $-241
Rent	-10% $-251	-5% $-197	+0% $-142	+5% $-88	+10% $-33
Rate	-1.0pp $-54	-0.5pp $-98	base $-142	+0.5pp $-187	+1.0pp $-234

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Listing history 33 events

1. 2026-06-22
   days on market $175,000 Active 39 DOM
2. 2026-06-19
   days on market $175,000 Active 37 DOM
3. 2026-06-18
   days on market $175,000 Active 36 DOM
4. 2026-06-17
   days on market $175,000 Active 35 DOM
5. 2026-06-16
   days on market $175,000 Active 34 DOM
6. 2026-06-15
   days on market $175,000 Active 33 DOM
7. 2026-06-14
   days on market $175,000 Active 31 DOM
8. 2026-06-13
   days on market $175,000 Active 30 DOM
9. 2026-06-10
   days on market $175,000 Active 28 DOM
10. 2026-06-09
    days on market $175,000 Active 27 DOM
11. 2026-06-08
    days on market $175,000 Active 26 DOM
12. 2026-06-07
    days on market $175,000 Active 25 DOM
13. 2026-06-05
    days on market $175,000 Active 22 DOM
14. 2026-06-02
    days on market $175,000 Active 20 DOM
15. 2026-06-01
    days on market $175,000 Active 19 DOM
16. 2026-05-31
    days on market $175,000 Active 18 DOM
17. 2026-05-30
    days on market $175,000 Active 17 DOM
18. 2026-05-13
    listed $175,000 Active 823-char remark
19. 2022-02-08
    soldstatus
20. 2015-09-04
    soldstatus Sold 266-char remark

    Show marketing remark (266 chars)

    3 bedroom, 2 bath, Double wide on large corner lot. House has covered front porch and large cover deck off the back. Covered parking with large metal building and shed. Large kitchen and Master bath has large garden tub. Within walking distance to elementary school.

21. 2015-09-04
    soldstatus

    Show marketing remark (266 chars)

    3 bedroom, 2 bath, Double wide on large corner lot. House has covered front porch and large cover deck off the back. Covered parking with large metal building and shed. Large kitchen and Master bath has large garden tub. Within walking distance to elementary school.

22. 2015-07-07
    status Pending 266-char remark

    Show marketing remark (266 chars)

    3 bedroom, 2 bath, Double wide on large corner lot. House has covered front porch and large cover deck off the back. Covered parking with large metal building and shed. Large kitchen and Master bath has large garden tub. Within walking distance to elementary school.

23. 2015-07-07
    status Active 266-char remark

    Show marketing remark (266 chars)

    3 bedroom, 2 bath, Double wide on large corner lot. House has covered front porch and large cover deck off the back. Covered parking with large metal building and shed. Large kitchen and Master bath has large garden tub. Within walking distance to elementary school.

24. 2015-07-01
    historical 266-char remark

    Show marketing remark (266 chars)

    3 bedroom, 2 bath, Double wide on large corner lot. House has covered front porch and large cover deck off the back. Covered parking with large metal building and shed. Large kitchen and Master bath has large garden tub. Within walking distance to elementary school.

25. 2015-02-20
    status Active 266-char remark

    Show marketing remark (266 chars)

    3 bedroom, 2 bath, Double wide on large corner lot. House has covered front porch and large cover deck off the back. Covered parking with large metal building and shed. Large kitchen and Master bath has large garden tub. Within walking distance to elementary school.

26. 2015-02-16
    historical 266-char remark

    Show marketing remark (266 chars)

    3 bedroom, 2 bath, Double wide on large corner lot. House has covered front porch and large cover deck off the back. Covered parking with large metal building and shed. Large kitchen and Master bath has large garden tub. Within walking distance to elementary school.

27. 2015-01-23
    status Active 266-char remark

    Show marketing remark (266 chars)

    3 bedroom, 2 bath, Double wide on large corner lot. House has covered front porch and large cover deck off the back. Covered parking with large metal building and shed. Large kitchen and Master bath has large garden tub. Within walking distance to elementary school.

28. 2015-01-21
    historical 266-char remark

    Show marketing remark (266 chars)

    3 bedroom, 2 bath, Double wide on large corner lot. House has covered front porch and large cover deck off the back. Covered parking with large metal building and shed. Large kitchen and Master bath has large garden tub. Within walking distance to elementary school.

29. 2014-11-11
    price $59,500 266-char remark

    Show marketing remark (266 chars)

    3 bedroom, 2 bath, Double wide on large corner lot. House has covered front porch and large cover deck off the back. Covered parking with large metal building and shed. Large kitchen and Master bath has large garden tub. Within walking distance to elementary school.

30. 2014-11-11
    price $54,500 266-char remark

    Show marketing remark (266 chars)

    3 bedroom, 2 bath, Double wide on large corner lot. House has covered front porch and large cover deck off the back. Covered parking with large metal building and shed. Large kitchen and Master bath has large garden tub. Within walking distance to elementary school.

31. 2014-08-28
    listed $59,500 Active 266-char remark

    Show marketing remark (266 chars)

    3 bedroom, 2 bath, Double wide on large corner lot. House has covered front porch and large cover deck off the back. Covered parking with large metal building and shed. Large kitchen and Master bath has large garden tub. Within walking distance to elementary school.

32. 2003-06-12
    historical
33. 2003-03-06
    listed $37,000

ⓘ 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: $2,902 · $242/mo
• Projected year-2 tax: $3,202 · $267/mo
• Expected delta: +$300/yr (+$25/mo · 10.3%)

ⓘ 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 7/10 Severe
• 🌡 Heat 6/10 Major 7 d/yr ≥109°F today · 20 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 26% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,563
• − Mortgage interest: −$9,803
• − Property taxes: −$2,902
• − Insurance: −$875
• − Repairs & maintenance: −$1,325
• − Management: −$1,325
• − Depreciation: −$5,091
• Taxable loss: −$4,758
• Est. tax savings @ 24.0%: +$1,142
• After-tax cash flow: $-563/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: S And S CISD
• NCES district ID: 4838400
• Math proficiency: 37% ▼ -10.00%
• Reading proficiency: 42% ▼ -1.00%
• Median HH income: $59,107
• Composite: 34.94/100
• National rank: #5064
• State rank: #381 of 826 in TX

Livability — Southmayd

• Score: 66/100
• State rank: #610
• US rank: #11558

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Southmayd, TX
• City population: 248
• Population (ZIP): 248

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: Majority Hispanic (63%)
• Race & ethnicity: Hispanic / Latino 63% Two or more races 60% White 36%
• Hispanic origin (detail): Mexican 54% Salvadoran 9%
• Common ancestry: Slovak 4% Serbian 4%
• Foreign-born: 22% · Canada
• Languages at home: 44% English-only · Spanish 56%

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: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• 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

+373.0% since first listed

16 events — show timeline

• 2026-05-13 Listed $175,000 NTREIS
• 2022-02-08 Sold (Public Records) — Public Records
• 2015-09-04 Sold (Public Records) — Public Records
• 2015-09-04 Sold (MLS) — NTREIS
• 2015-07-07 Pending — NTREIS
• 2015-07-07 Relisted — NTREIS
• 2015-07-01 Listing Removed — NTREIS
• 2015-02-20 Relisted — NTREIS
• 2015-02-16 Listing Removed — NTREIS
• 2015-01-23 Relisted — NTREIS
• 2015-01-21 Listing Removed — NTREIS
• 2014-11-11 Price Changed $54,500 NTREIS
• 2014-11-11 Price Changed $59,500 NTREIS
• 2014-08-28 Listed $59,500 NTREIS
• 2003-06-12 Listing Removed — NTREIS
• 2003-03-06 Listed $37,000 NTREIS

Property tax history

+6.6%/yr

Latest (2025): $2,902 · -7.4% YoY. Source: county tax records.