2334 Sanbar Rd #26 · Graford, TX 76449

$55,000

2 bd · 2.0 ba · 672 sqft · SingleFamily · 174 Days on market

Built 1970 4,922 sqft lot $82/sqft · 55% below area

---

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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +3.4/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

BRING YOUR OFFER! This cute as can be furnished lake cabin in the friendly Golden Cove community, located on the peninsula of Possum Kingdom Lake, is just waiting for YOU! With 2 bedrooms, 2 showers, a large living room, efficient kitchen, and a combo washer-dryer - all updated over the past few years - this cabin makes an ideal weekend getaway or vacation spot. Situated within walking distance to the swim cove, featuring magnificent water, sunset, and vista views from the deck, you can entertain large groups or keep it cozy with just you and the pets (separate fence for them included)! The wraparound deck, with one portion covered and one portion open, offers space for cookouts or parties with all the gang, coffee under the large shade tree as you watch the neighborhood deer stroll by, or relax with a drink as you enjoy the sunsets or starry nights after a day on the lake. In addition, you'll have covered parking and a storage shed at the back of the house for keeping tools, toys, etc. The Golden Cove community amenities include a boat ramp, courtesy dock, pavilion, onsite waste center, rentable storage units, and rentable cabins for the overflow of guests you'll have once your friends and family get to experience the PK Lake Life! The centralized lake location of this community puts you right in the heart of the Great Lake of Texas ~ around the bend from Sandy Beach, a short boat ride to the West Side and multiple on-water dining options, not far from Hell's Gate or the dam at the end of PK. But if you don't want to be out on the lake, you can wade in at The Cove and join your new Lake Family for some floating and fun in the sun. The listing is for the improvements only on a lot leased from Oak Wood Properties. The current lease fee is approximately $850 per month; a lease application must be submitted to and approved by Oak Wood prior to closing. Come take a look at this sweet place and get your lake spot secured so you can start making lifetime lake memories!

Key facts

• Furnished lake cabin
• Wraparound deck
• 4,922 sq ft lot

Tags

• FURNISHED LAKE CABIN
• GOLDEN COVE COMMUNITY
• WALKING DISTANCE TO SWIM COVE
• MAGNIFICENT WATER VIEWS
• SUNSET VIEWS FROM THE DECK
• WRAPAROUND DECK

🏷️ Possibly a rental listed for sale. The $55,000 price doesn't fit this home's estimated sale value (~$122,938) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $55k).
• Recommended offer: $48k (12.0% below list) — sets the bar for market timing.
• Cap rate 33.5% vs local median 1.3% in Graford — 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 63/100 on livability (#856 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, health & safety D+, schools D-.
• Graford ISD (rural): math 35% / reading 40% proficiency, ranked #817 of 1,141 in TX (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 465 active listings in the ZIP; 27 units permitted in Palo Pinto County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $380 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Palo Pinto County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 174 days — a 12% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 15y ago; this cycle's ask has dropped $10k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $48,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 174 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. Crime grade is F 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?
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: 3.75% ✓
• Cap rate: 33.53%
• Cash-on-cash: 97.28%
• DSCR: 5.33
• GRM: 2.2

CMA / ARV

• ARV (median comp): $122,938
• List price: $55,000
• Delta: -55.26%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 98.3%
• Equity multiple: 5.59×
• Total profit: $70,633
• Equity at exit: $8,201

10-year hold

• IRR: —
• Equity multiple: 11.65×
• Total profit: $164,019
• Equity at exit: $4,755

Cash invested: $15,400 (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 76449

• Home prices YoY: -27.7%
• Active inventory: 465
• Price-to-rent: 2.2×

Monthly cashflow live

• Estimated rent: $2,061 medium
• Mortgage (P&I): −$288
• Tax est. 1.5%: −$69 /mo · $825/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$433
• Net cashflow: $1,248

Break-even live

Break-even rent $481

Max offer price $55,000

Occupancy floor 34%

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Listing history 32 events

1. 2026-06-19
   days on market $55,000 Active 174 DOM
2. 2026-06-18
   days on market $55,000 Active 173 DOM
3. 2026-06-17
   days on market $55,000 Active 172 DOM
4. 2026-06-16
   days on market $55,000 Active 171 DOM
5. 2026-06-15
   days on market $55,000 Active 170 DOM
6. 2026-06-14
   days on market $55,000 Active 168 DOM
7. 2026-06-12
   days on market $55,000 Active 167 DOM
8. 2026-06-09
   days on market $55,000 Active 164 DOM
9. 2026-06-08
   days on market $55,000 Active 163 DOM
10. 2026-06-07
    days on market $55,000 Active 162 DOM
11. 2026-06-05
    days on market $55,000 Active 160 DOM
12. 2026-06-04
    days on market $55,000 Active 158 DOM
13. 2026-06-02
    days on market $55,000 Active 157 DOM
14. 2026-06-01
    days on market $55,000 Active 156 DOM
15. 2026-05-31
    days on market $55,000 Active 155 DOM
16. 2026-05-31
    days on market $55,000 Active 154 DOM
17. 2026-02-17
    price $55,000 2000-char remark

    Show marketing remark (2000 chars)

    BRING YOUR OFFER! This cute as can be furnished lake cabin in the friendly Golden Cove community, located on the peninsula of Possum Kingdom Lake, is just waiting for YOU! With 2 bedrooms, 2 showers, a large living room, efficient kitchen, and a combo washer-dryer - all updated over the past few years - this cabin makes an ideal weekend getaway or vacation spot. Situated within walking distance to the swim cove, featuring magnificent water, sunset, and vista views from the deck, you can entertain large groups or keep it cozy with just you and the pets (separate fence for them included)! The wraparound deck, with one portion covered and one portion open, offers space for cookouts or parties with all the gang, coffee under the large shade tree as you watch the neighborhood deer stroll by, or relax with a drink as you enjoy the sunsets or starry nights after a day on the lake. In addition, you'll have covered parking and a storage shed at the back of the house for keeping tools, toys, etc. The Golden Cove community amenities include a boat ramp, courtesy dock, pavilion, onsite waste center, rentable storage units, and rentable cabins for the overflow of guests you'll have once your friends and family get to experience the PK Lake Life! The centralized lake location of this community puts you right in the heart of the Great Lake of Texas ~ around the bend from Sandy Beach, a short boat ride to the West Side and multiple on-water dining options, not far from Hell's Gate or the dam at the end of PK. But if you don't want to be out on the lake, you can wade in at The Cove and join your new Lake Family for some floating and fun in the sun. The listing is for the improvements only on a lot leased from Oak Wood Properties. The current lease fee is approximately $850 per month; a lease application must be submitted to and approved by Oak Wood prior to closing. Come take a look at this sweet place and get your lake spot secured so you can start making lifetime lake memories!

18. 2025-12-27
    listed $65,000 Active 2000-char remark

    Show marketing remark (2000 chars)

    BRING YOUR OFFER! This cute as can be furnished lake cabin in the friendly Golden Cove community, located on the peninsula of Possum Kingdom Lake, is just waiting for YOU! With 2 bedrooms, 2 showers, a large living room, efficient kitchen, and a combo washer-dryer - all updated over the past few years - this cabin makes an ideal weekend getaway or vacation spot. Situated within walking distance to the swim cove, featuring magnificent water, sunset, and vista views from the deck, you can entertain large groups or keep it cozy with just you and the pets (separate fence for them included)! The wraparound deck, with one portion covered and one portion open, offers space for cookouts or parties with all the gang, coffee under the large shade tree as you watch the neighborhood deer stroll by, or relax with a drink as you enjoy the sunsets or starry nights after a day on the lake. In addition, you'll have covered parking and a storage shed at the back of the house for keeping tools, toys, etc. The Golden Cove community amenities include a boat ramp, courtesy dock, pavilion, onsite waste center, rentable storage units, and rentable cabins for the overflow of guests you'll have once your friends and family get to experience the PK Lake Life! The centralized lake location of this community puts you right in the heart of the Great Lake of Texas ~ around the bend from Sandy Beach, a short boat ride to the West Side and multiple on-water dining options, not far from Hell's Gate or the dam at the end of PK. But if you don't want to be out on the lake, you can wade in at The Cove and join your new Lake Family for some floating and fun in the sun. The listing is for the improvements only on a lot leased from Oak Wood Properties. The current lease fee is approximately $850 per month; a lease application must be submitted to and approved by Oak Wood prior to closing. Come take a look at this sweet place and get your lake spot secured so you can start making lifetime lake memories!

19. 2025-09-30
    historical
20. 2025-04-22
    status Active
21. 2025-04-18
    historical Active Option Contract
22. 2025-03-23
    listed $65,000 Active
23. 2023-10-13
    soldstatus Closed
24. 2023-09-25
    status Pending
25. 2023-08-25
    price $80,000
26. 2023-07-05
    listed $87,999 Active
27. 2023-06-30
    historical
28. 2023-05-11
    price $87,999
29. 2023-01-10
    status Active
30. 2022-12-31
    listed $92,999 Active
31. 2011-08-04
    historical
32. 2011-03-19
    listed $32,500 Active

ⓘ 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: $24,737
• − Mortgage interest: −$3,081
• − Property taxes: −$825
• − Insurance: −$275
• − Repairs & maintenance: −$1,979
• − Management: −$1,979
• − Depreciation: −$1,600
• Taxable income: $14,998
• Est. tax owed @ 24.0%: −$3,600
• After-tax cash flow: $11,382/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: Graford ISD
• NCES district ID: 4821330
• Math proficiency: 35% ▬ 0.00%
• Reading proficiency: 40% ▲ 10.00%
• Median HH income: $43,275
• Composite: 34.3/100
• National rank: #10225
• State rank: #817 of 1141 in TX

Livability — Graford

• Score: 63/100
• State rank: #856
• US rank: #15394

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 2,157

Population outlook (Palo Pinto County) Hauer SSP2

• Today (2025): 27,500 people
• By 2030: 27,079 · -1.5%
• By 2040: 26,135 · -5.0%
• By 2050: 25,215 · -8.3%
• By 2075: 23,416 · -14.9%
• By 2100: 20,300 · -26.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 7% Two or more races 4%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Portuguese 1% Italian 1% Serbian 1%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 4%

Political lean MEDSL · Palo Pinto

• 2024 margin: Solid R (+67.1) · D 16.1% · R 83.2%
• 2008→2024 swing: -18.9pp toward R · 2008: -48.2pp · 2024: -67.1pp
• All cycles: 2024: R+67.1 2020: R+64.1 2016: R+64.1 2012: R+59.8 2008: R+48.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -92.53%
• Current HPI: 241.6435
• 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

+69.2% since first listed

16 events — show timeline

• 2026-02-17 Price Changed $55,000 NTREIS
• 2025-12-27 Listed $65,000 NTREIS
• 2025-09-30 Listing Removed — NTREIS
• 2025-04-22 Relisted — NTREIS
• 2025-04-18 Contingent — NTREIS
• 2025-03-23 Listed $65,000 NTREIS
• 2023-10-13 Sold (MLS) — NTREIS
• 2023-09-25 Pending — NTREIS
• 2023-08-25 Price Changed $80,000 NTREIS
• 2023-07-05 Listed $87,999 NTREIS
• 2023-06-30 Listing Removed — NTREIS
• 2023-05-11 Price Changed $87,999 NTREIS
• 2023-01-10 Relisted — NTREIS
• 2022-12-31 Listed $92,999 NTREIS
• 2011-08-04 Listing Removed — NTREIS
• 2011-03-19 Listed $32,500 NTREIS