3412 Spur Run · Sherman, TX 75090

$245,490

3 bd · 2.0 ba · 1,643 sqft · SingleFamily · 8 Days on market

Built 2025 Good condition 4,704 sqft lot 2-car garage $149/sqft · 7% below area Est $264k · 7% under $35/mo HOA · 2% of rent

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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 +10.7/15.0
• Cash flow +9.6/30.0
• Condition / age +4.0/5.0
• Schools +3.3/10.0
• 1% rule +3.1/10.0
• Livability +3.1/5.0
• DSCR +2.7/10.0
• Rent growth +1.8/5.0
• Appreciation +0.0/10.0

Listing remarks

The Clarke is a one-story floorplan featured at Sweetwater Springs in Sherman, Texas. The Clarke offers space with 1,641 square feet, making it an excellent choice for those who desire a bit more room to spread out. This single-story home features 3 bedrooms and 2 bathrooms, with a large, open layout that emphasizes spaciousness and connectivity. The family room is expansive, creating a perfect space for gatherings or for simply enjoying a more open living environment.

Key facts

• New construction
• Covered patio
• Energy efficient

Tags

• NEW CONSTRUCTION
• COVERED PATIO
• ENERGY EFFICIENT
• SMART HOME FEATURES

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $245k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-165 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $222k (9.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $198k (19.2% below list).
• Recommended offer: $198k (19.2% below list) — sets the bar for 1% rule.
• Cap rate 5.5% vs local median 3.8% 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-, amenities F.
• 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.
• Zoned schools: Henry W Sory El (math 35% / reading 43%, grade F, #1,651 of 4,322 statewide, top 39%, 548 students, 69% FRL); Piner Middle (math 31% / reading 41%, grade F, #805 of 1,662 statewide, top 50%, 818 students, 75% FRL); Sherman H S (math 28% / reading 44%, grade F, #930 of 1,632 statewide, top 57%, 2,155 students, 70% FRL).
• Market conditions: Rents soft (-2.7%/yr); 601 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals lingering (median 70d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% 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).
• This rent runs 43% of the median local income ($56k/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.
• Grayson County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $198,324 (19.2% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 0.81% ✗
• Cap rate: 5.49%
• Cash-on-cash: -2.88%
• DSCR: 0.87
• GRM: 10.3

CMA / ARV

• ARV (median comp): $264,483
• List price: $245,490
• Delta: -7.18%
• 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
3701 Talisker Blvd	0.27mi	4/2.0 (+1)	1,696 (+3%)	1mo	$304,999	$180	76
3922 Ontario Way	0.37mi	4/2.0 (+1)	1,600 (-3%)	1mo	$222,999	$139	73
3812 Ontario Way	0.38mi	4/2.0 (+1)	1,600 (-3%)	2mo	$226,999	$142	71
3913 Sky Dr	0.13mi	4/2.5 (+1)	1,886 (+15%)	1mo	$283,990	$151	62
3910 Ontario Way	0.37mi	3/2.0	1,411 (-14%)	1mo	$216,359	$153	58
3923 Ontario Way	0.40mi	3/2.0	1,411 (-14%)	1mo	$211,999	$150	57
3915 Ontario Way	0.40mi	3/2.0	1,411 (-14%)	1mo	$211,999	$150	57
3916 Superior Pl	0.42mi	3/2.0	1,411 (-14%)	0mo	$220,999	$157	56
3821 Ontario Way	0.40mi	3/2.0	1,402 (-15%)	1mo	$213,999	$153	56
3911 Ontario Way	0.40mi	3/2.0	1,402 (-15%)	2mo	$212,999	$152	55
3814 Superior Pl	0.43mi	3/2.0	1,402 (-15%)	2mo	$208,999	$149	54
3606 S Dakota Dr	0.65mi	4/1.5 (+1)	1,424 (-13%)	1mo	$200,000	$140	40

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: -24.6%
• Equity multiple: 0.18×
• Total profit: $-56,035
• Equity at exit: $36,603

10-year hold

• IRR: -32.7%
• Equity multiple: -0.23×
• Total profit: $-84,559
• Equity at exit: $21,225

Cash invested: $68,737 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 57 active · 30 under contract
• Months of supply: 8.5 mo (12%/mo absorbed)
• Median asking: $283,999 ($168/sqft)
• Median days on market: 85 d
• This list price: 21% of active listings are priced below it
• ARV vs active asking: -4.4% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 75090

• Home prices YoY: -20.0%
• Rents YoY: -2.7%
• Active inventory: 601
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $1,983 high
• Mortgage (P&I): −$1,287
• Tax est. 1.5%: −$307 /mo · $3,682/yr
• Insurance: −$102
• HOA: −$35
• Vacancy / Maint / Mgmt: −$416
• Net cashflow: $-165

Break-even live

Break-even rent $2,192

Max offer price $221,648

Occupancy floor —

Sensitivity live

Price	-10% $5	-5% $-80	+0% $-165	+5% $-250	+10% $-334
Rent	-10% $-321	-5% $-243	+0% $-165	+5% $-86	+10% $-8
Rate	-1.0pp $-41	-0.5pp $-102	base $-165	+0.5pp $-228	+1.0pp $-293

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: $61,372
• Closing costs: $7,365
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3825 Cherry Hills Dr Sherman, TX	3.0	2.0	1585	$2,100	$1.32	93d	1	0.07mi
1108 El Sol Blvd Sherman, TX	3.0	2.0	1717	$1,999	$1.16	93d	1	0.07mi
3804 Malibu Dr Sherman, TX	4.0	3.0	2216	$2,300	$1.04	93d	1	0.12mi
3902 Talisker Blvd Sherman, TX	3.0	2.0	1740	$2,100	$1.21	70d	1	0.12mi
1127 Mesa St Sherman, TX	3.0	2.5	1736	$2,250	$1.30	70d	1	0.15mi
1205 Morgan Dr Sherman, TX	3.0	2.5	1775	$1,850	$1.04	70d	1	0.19mi
3740 Paradise Way Sherman, TX	3.0	2.5	1755	$1,899	$1.08	93d	1	0.20mi
3740 Paradise Way Sherman, TX	3.0	2.5	1755	$1,750	$1.00	70d	1	0.20mi
3730 Malibu Dr Sherman, TX	3.0	2.5	1672	$2,300	$1.38	70d	1	0.22mi
3717 Malibu Dr Sherman, TX	3.0	2.5	1794	$1,900	$1.06	70d	1	0.23mi
3716 Paradise Way Sherman, TX	3.0	2.5	1756	$1,900	$1.08	93d	1	0.23mi
3807 Pontchartrain Pkwy Sherman, TX	3.0	2.0	1411	$1,650	$1.17	70d	1	0.34mi
3914 Ontario Way Sherman, TX	4.0	2.0	1617	$1,695	$1.05	70d	1	0.35mi
3809 Ontario Way Sherman, TX	3.0	2.0	1402	$1,650	$1.18	70d	1	0.39mi
1601 FM1417 Sherman, TX	3.0	2.0	1448	$1,449	$1.00	70d	1	0.48mi
2306 San Jacinto Way Sherman, TX	3.0	2.0	1680	$1,795	$1.07	70d	1	1.40mi

Property features AI

Finance

• Other: Builder listing / special listing conditions
• Financial info: No second mortgage
• HOA & community: Mandatory associationAnnual HOA fee (includes grounds maintenance)

Exterior

• Parking: Attached garage2-car garage (approx. 18 ft wide by 20 ft deep)2 covered parking spaces
• Utilities: City waterCity sewerNot in a municipal utility district
• Home design: Single family residenceOne-story homeNew construction completed (2025)
• Construction: New construction finished in 2025
• Exterior features: Lot in Sweetwater subdivisionLess than 0.5 acre lot

Interior

• Kitchen: DishwasherElectric rangeMicrowaveBreakfast room adjacent to kitchen (approx. 7 x 10)
• Bedrooms: 3 bedrooms (all on the main level)Primary bedroom on main level, approx. 12 x 15Secondary bedrooms on main level, approx. 10 x 10 and 10 x 11
• Bathrooms: 2 full bathrooms
• Interior features: Cable TV availableDecorative lightingFlat screen wiringSmart home systemOne living areaOne dining area6 total rooms
• Laundry & utility: Smart home features (controls/automation present)

HOA detail $35/mo · $420/yr

• Likely covers: water

Listing history 7 events

1. 2026-06-26
   days on market $245,490 Active 8 DOM
2. 2026-06-23
   days on market $245,490 Active 5 DOM
3. 2026-06-21
   days on market $245,490 Active 4 DOM
4. 2026-06-19
   days on market $245,490 Active 2 DOM
5. 2026-06-17
   listing id $245,490 Active 1 DOM
6. 2026-06-17
   remarks 699-char remark
7. 2026-06-17
   listed $245,490 Active 1 DOM

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

Taxation est. · year 1

• Rental income: $23,799
• − Mortgage interest: −$13,751
• − Property taxes: −$3,682
• − Insurance: −$1,227
• − Repairs & maintenance: −$1,904
• − Management: −$1,904
• − HOA: −$420
• − Depreciation: −$7,142
• Taxable loss: −$6,232
• Est. tax savings @ 24.0%: +$1,496
• After-tax cash flow: $-482/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.

Condition & rehab AI · 2 photos

Good 80/100 None rehab

This single-story home in Sherman, Texas, is in good condition with a fresh paint job and well-maintained landscaping. It offers a spacious layout and quality finishes, making it an excellent choice for those seeking a move-in-ready property.

Value-add opportunities

• Both Painting exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Landscaping improvements — Enhances curb appeal and adds value ↑
• Resale Kitchen backsplash — A backsplash can add visual interest and functionality to the kitchen ↑
• Resale Bathroom vanity upgrade — A modern vanity can improve the bathroom's appearance and functionality ↑

F Composite school gradezoned avg 33/100

Zoned Schools

Elementary Percy W Neblett El F TX #2,525/4,322 Nat'l #26,716/41,679 Middle Sherman Middle High Sherman H S F TX #930/1,632 Nat'l #9,405/17,239

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

C Composite livability gradescore 61/100

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 · 134,540 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: 13% of renters

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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%

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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%

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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

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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

Property features AI

Finance

• Other: Builder listing / special listing conditions
• Financial info: No second mortgage
• HOA & community: Mandatory associationAnnual HOA fee (includes grounds maintenance)

Exterior

• Parking: Attached garage2-car garage (approx. 18 ft wide by 20 ft deep)2 covered parking spaces
• Utilities: City waterCity sewerNot in a municipal utility district
• Home design: Single family residenceOne-story homeNew construction completed (2025)
• Construction: New construction finished in 2025
• Exterior features: Lot in Sweetwater subdivisionLess than 0.5 acre lot

Interior

• Kitchen: DishwasherElectric rangeMicrowaveBreakfast room adjacent to kitchen (approx. 7 x 10)
• Bedrooms: 3 bedrooms (all on the main level)Primary bedroom on main level, approx. 12 x 15Secondary bedrooms on main level, approx. 10 x 10 and 10 x 11
• Bathrooms: 2 full bathrooms
• Interior features: Cable TV availableDecorative lightingFlat screen wiringSmart home systemOne living areaOne dining area6 total rooms
• Laundry & utility: Smart home features (controls/automation present)

Price history

2 events — show timeline

• 2026-06-26 Listing Removed — NTREIS
• 2026-06-17 Listed $245,490 NTREIS