108 N Cherry Ln · Granbury, TX 76048

$219,900

3 bd · 2.0 ba · 1,576 sqft · SingleFamily public records · 80 Days on market

Built 1959 4,356 sqft lot $140/sqft · at area comps Est $226k · at est.

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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).

• Cash flow +11.5/30.0
• ARV discount +8.8/15.0
• Schools +4.0/10.0
• 1% rule +3.4/10.0
• DSCR +3.4/10.0
• Livability +3.3/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

OPEN HOUSE this Sunday 1-3 PM!! Assumable VA rate of 2.75%!! Solid and well-built, this one-level home offers a versatile layout and durable structure with a contemporary exterior featuring a rock and stone façade. Ideally located just one mile from the renowned History Granbury Square, with convenient access to local boutiques, restaurants, entertainment, and year-round community events. Inside, the living room is anchored by a striking stone faced fireplace and flows seamlessly into the eat-in kitchen, creating a natural gathering space. The oversized primary suite offers a true retreat with a sitting area, private bath, and direct access to the spacious laundry room. Secondary bedrooms are positioned on the opposite side of the home for added privacy. Head outside to a fenced backyard with a patio and storage shed, perfect for relaxing or additional storage. All major appliances convey, including the full-size washer and dryer. Homes with this layout and location rarely become available. .25% interest rate discount and no lender fee future refinancing may be available for qualified buyers of this home.

Key facts

• One level home
• Storage shed
• Patio

Tags

• ONE LEVEL HOME
• ROCK AND STONE FAÇADE
• FENCED BACKYARD
• PATIO
• STORAGE SHED
• STRIKING STONE FACED FIREPLACE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $220k.

Deal economics

• At list price, monthly cash flow is $-74 ($-889/yr) — negative.
• To cash-flow at today's rent, offer at most $207k (6.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $184k (16.2% below list).
• Recommended offer: $184k (16.2% below list) — sets the bar for 1% rule.
• Cap rate 5.9% vs local median 3.8% in Granbury — 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 66/100 on livability (#628 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, crime D+, schools D.
• Granbury ISD (town): math 46% / reading 46% proficiency, ranked #237 of 826 in TX (top 29%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+1.1%/yr); 929 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 125 units permitted in Hood County in 2024 (0 in 5+ unit buildings).
• This rent runs 31% of the median local income ($70k/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.
• Hood County population projected at +29% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 80 days — a 6% lower offer ($207k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 8y 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

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $184,201 (16.2% 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. It's been on market 80 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
3. Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Crime grade is D 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.84% ✗
• Cap rate: 5.89%
• Cash-on-cash: -1.44%
• DSCR: 0.94
• GRM: 9.9

CMA / ARV

• ARV (median comp): $226,384
• List price: $219,900
• Delta: -2.86%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
107 N Cherry Ln	0.04mi	3/2.0	1,719 (+9%)	2mo	$269,900	$157	82
1114 Penrod St	0.43mi	3/2.0	1,569 (-0%)	12mo	$190,000	$121	70
1309 Walters Dr	0.48mi	3/2.0	1,535 (-3%)	6mo	$295,000	$192	68
405 Heather Dr	0.41mi	3/2.0	1,523 (-3%)	10mo	$217,000	$142	67
316 S Ables St	0.35mi	3/2.0	1,404 (-11%)	5mo	$249,999	$178	61
1110 Gifford Dr	0.56mi	3/2.0	1,704 (+8%)	0mo	$269,000	$158	60
119 Kessler Dr	0.59mi	3/1.5	1,376 (-13%)	4mo	$246,900	$179	46
800 Elizabeth Blvd	0.63mi	3/1.0	1,483 (-6%)	23mo	$195,000	$131	38
600 Bluff St	0.74mi	2/2.0 (-1)	1,634 (+4%)	20mo	$265,000	$162	38
1107 Walters Dr	0.54mi	3/2.0	1,755 (+11%)	22mo	$295,000	$168	37

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 · 1.1% rent growth · sell at horizon

5-year hold

• IRR: -20.8%
• Equity multiple: 0.29×
• Total profit: $-43,774
• Equity at exit: $32,788

10-year hold

• IRR: -19.1%
• Equity multiple: 0.06×
• Total profit: $-57,707
• Equity at exit: $19,013

Cash invested: $61,572 (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 76048

• Home prices YoY: -23.4%
• Rents YoY: 1.1%
• Active inventory: 929
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,842 high
• Mortgage (P&I): −$1,153
• Tax from tax record: −$284 /mo · $3,414/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$387
• Net cashflow: $-74

Break-even live

Break-even rent $1,936

Max offer price $206,813

Occupancy floor 99%

Sensitivity live

Price	-10% $50	-5% $-12	+0% $-74	+5% $-136	+10% $-199
Rent	-10% $-220	-5% $-147	+0% $-74	+5% $-1	+10% $71
Rate	-1.0pp $37	-0.5pp $-18	base $-74	+0.5pp $-131	+1.0pp $-189

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: $54,975
• Closing costs: $6,597
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
900 Elizabeth Blvd Granbury, TX	3.0	1.0	1112	$1,500	$1.35	44d	1	0.50mi
907 W Bridge St Granbury, TX	3.0	1.5	1161	$1,700	$1.46	44d	1	0.55mi
1113 Gifford Dr Granbury, TX	3.0	2.0	1248	$1,749	$1.40	24d	1	0.56mi
902 W Bridge St Granbury, TX	2.0	1.0	1375	$1,695	$1.23	3d	1	0.58mi
814 W Bridge St Granbury, TX	3.0	1.5	1360	$1,695	$1.25	44d	1	0.61mi
410 S Hannaford St Granbury, TX	4.0	2.0	2034	$2,500	$1.23	22d	1	0.75mi
1414 Lauren Ln Granbury, TX	3.0	2.0	1500	$2,100	$1.40	24d	1	0.95mi
316 W Rucker St Granbury, TX	3.0	2.0	1219	$2,100	$1.72	44d	1	0.98mi
400 E Pearl St Apt 108 Granbury, TX	2.0	2.0	1200	$1,450	$1.21	24d	1	1.30mi
400 E Pearl St Granbury, TX	2.0	2.0	1170	$1,450	$1.24	44d	1	1.30mi

Listing history 32 events

1. 2026-06-18
   days on market $219,900 Active 80 DOM
2. 2026-06-17
   days on market $219,900 Active 79 DOM
3. 2026-06-16
   days on market $219,900 Active 78 DOM
4. 2026-06-15
   days on market $219,900 Active 77 DOM
5. 2026-06-13
   days on market $219,900 Active 75 DOM
6. 2026-06-09
   days on market $219,900 Active 71 DOM
7. 2026-06-08
   days on market $219,900 Active 70 DOM
8. 2026-06-07
   days on market $219,900 Active 69 DOM
9. 2026-06-04
   days on market $219,900 Active 66 DOM
10. 2026-06-03
    days on market $219,900 Active 65 DOM
11. 2026-06-02
    days on market $219,900 Active 64 DOM
12. 2026-06-02
    days on market $219,900 Active 63 DOM
13. 2026-05-31
    days on market $219,900 Active 62 DOM
14. 2026-05-06
    price $224,500 1136-char remark

    Show marketing remark (1136 chars)

    OPEN HOUSE this Sunday 1-3 PM!! Assumable VA rate of 2.75%!! Solid and well-built, this one-level home offers a versatile layout and durable structure with a contemporary exterior featuring a rock and stone façade. Ideally located just one mile from the renowned History Granbury Square, with convenient access to local boutiques, restaurants, entertainment, and year-round community events. Inside, the living room is anchored by a striking stone faced fireplace and flows seamlessly into the eat-in kitchen, creating a natural gathering space. The oversized primary suite offers a true retreat with a sitting area, private bath, and direct access to the spacious laundry room. Secondary bedrooms are positioned on the opposite side of the home for added privacy. Head outside to a fenced backyard with a patio and storage shed, perfect for relaxing or additional storage. All major appliances convey, including the full-size washer and dryer. Homes with this layout and location rarely become available. .25% interest rate discount and no lender fee future refinancing may be available for qualified buyers of this home.

15. 2026-04-28
    status Active 1136-char remark

    Show marketing remark (1136 chars)

    OPEN HOUSE this Sunday 1-3 PM!! Assumable VA rate of 2.75%!! Solid and well-built, this one-level home offers a versatile layout and durable structure with a contemporary exterior featuring a rock and stone façade. Ideally located just one mile from the renowned History Granbury Square, with convenient access to local boutiques, restaurants, entertainment, and year-round community events. Inside, the living room is anchored by a striking stone faced fireplace and flows seamlessly into the eat-in kitchen, creating a natural gathering space. The oversized primary suite offers a true retreat with a sitting area, private bath, and direct access to the spacious laundry room. Secondary bedrooms are positioned on the opposite side of the home for added privacy. Head outside to a fenced backyard with a patio and storage shed, perfect for relaxing or additional storage. All major appliances convey, including the full-size washer and dryer. Homes with this layout and location rarely become available. .25% interest rate discount and no lender fee future refinancing may be available for qualified buyers of this home.

16. 2026-04-09
    status Pending 1136-char remark

    Show marketing remark (1136 chars)

    OPEN HOUSE this Sunday 1-3 PM!! Assumable VA rate of 2.75%!! Solid and well-built, this one-level home offers a versatile layout and durable structure with a contemporary exterior featuring a rock and stone façade. Ideally located just one mile from the renowned History Granbury Square, with convenient access to local boutiques, restaurants, entertainment, and year-round community events. Inside, the living room is anchored by a striking stone faced fireplace and flows seamlessly into the eat-in kitchen, creating a natural gathering space. The oversized primary suite offers a true retreat with a sitting area, private bath, and direct access to the spacious laundry room. Secondary bedrooms are positioned on the opposite side of the home for added privacy. Head outside to a fenced backyard with a patio and storage shed, perfect for relaxing or additional storage. All major appliances convey, including the full-size washer and dryer. Homes with this layout and location rarely become available. .25% interest rate discount and no lender fee future refinancing may be available for qualified buyers of this home.

17. 2026-03-31
    historical Active Option Contract 1136-char remark

    Show marketing remark (1136 chars)

    OPEN HOUSE this Sunday 1-3 PM!! Assumable VA rate of 2.75%!! Solid and well-built, this one-level home offers a versatile layout and durable structure with a contemporary exterior featuring a rock and stone façade. Ideally located just one mile from the renowned History Granbury Square, with convenient access to local boutiques, restaurants, entertainment, and year-round community events. Inside, the living room is anchored by a striking stone faced fireplace and flows seamlessly into the eat-in kitchen, creating a natural gathering space. The oversized primary suite offers a true retreat with a sitting area, private bath, and direct access to the spacious laundry room. Secondary bedrooms are positioned on the opposite side of the home for added privacy. Head outside to a fenced backyard with a patio and storage shed, perfect for relaxing or additional storage. All major appliances convey, including the full-size washer and dryer. Homes with this layout and location rarely become available. .25% interest rate discount and no lender fee future refinancing may be available for qualified buyers of this home.

18. 2026-03-11
    listed $225,000 Active 1136-char remark

    Show marketing remark (1136 chars)

    OPEN HOUSE this Sunday 1-3 PM!! Assumable VA rate of 2.75%!! Solid and well-built, this one-level home offers a versatile layout and durable structure with a contemporary exterior featuring a rock and stone façade. Ideally located just one mile from the renowned History Granbury Square, with convenient access to local boutiques, restaurants, entertainment, and year-round community events. Inside, the living room is anchored by a striking stone faced fireplace and flows seamlessly into the eat-in kitchen, creating a natural gathering space. The oversized primary suite offers a true retreat with a sitting area, private bath, and direct access to the spacious laundry room. Secondary bedrooms are positioned on the opposite side of the home for added privacy. Head outside to a fenced backyard with a patio and storage shed, perfect for relaxing or additional storage. All major appliances convey, including the full-size washer and dryer. Homes with this layout and location rarely become available. .25% interest rate discount and no lender fee future refinancing may be available for qualified buyers of this home.

19. 2019-03-25
    soldstatus
20. 2019-03-22
    soldstatus Sold 209-char remark

    Show marketing remark (209 chars)

    MOVE IN READY! BEAUTIFULLY REMODELED-UPDATED HOME. WOOD, TILE, CARPET. NEW BUILT-IN STAINLESS MICROWAVE, GAS STOVE-OVEN, REFRIGERATOR. NEW ROOF AND GUTTERS. LARGE FENCED YARD. STORAGE BUILDING. IN CITY LIMITS.

21. 2019-03-01
    status Pending 209-char remark

    Show marketing remark (209 chars)

    MOVE IN READY! BEAUTIFULLY REMODELED-UPDATED HOME. WOOD, TILE, CARPET. NEW BUILT-IN STAINLESS MICROWAVE, GAS STOVE-OVEN, REFRIGERATOR. NEW ROOF AND GUTTERS. LARGE FENCED YARD. STORAGE BUILDING. IN CITY LIMITS.

22. 2019-02-15
    historical Active Option Contract 209-char remark

    Show marketing remark (209 chars)

    MOVE IN READY! BEAUTIFULLY REMODELED-UPDATED HOME. WOOD, TILE, CARPET. NEW BUILT-IN STAINLESS MICROWAVE, GAS STOVE-OVEN, REFRIGERATOR. NEW ROOF AND GUTTERS. LARGE FENCED YARD. STORAGE BUILDING. IN CITY LIMITS.

23. 2019-02-13
    listed $165,000 Active 209-char remark

    Show marketing remark (209 chars)

    MOVE IN READY! BEAUTIFULLY REMODELED-UPDATED HOME. WOOD, TILE, CARPET. NEW BUILT-IN STAINLESS MICROWAVE, GAS STOVE-OVEN, REFRIGERATOR. NEW ROOF AND GUTTERS. LARGE FENCED YARD. STORAGE BUILDING. IN CITY LIMITS.

24. 2019-01-16
    historical
25. 2018-12-03
    price $179,500
26. 2018-11-02
    status Active
27. 2018-11-02
    historical
28. 2018-10-29
    status Active
29. 2018-10-24
    historical Active Option Contract
30. 2018-10-15
    listed $184,000 Active
31. 2014-10-14
    soldstatus
32. 2010-09-01
    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: $3,414 · $284/mo
• Projected year-2 tax: $4,024 · $335/mo
• Expected delta: +$611/yr (+$51/mo · 17.9%)

ⓘ 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 ≥108°F today · 23 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,104
• − Mortgage interest: −$12,318
• − Property taxes: −$3,414
• − Insurance: −$1,100
• − Repairs & maintenance: −$1,768
• − Management: −$1,768
• − Depreciation: −$6,397
• Taxable loss: −$4,661
• Est. tax savings @ 24.0%: +$1,119
• After-tax cash flow: $230/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: Granbury ISD
• NCES district ID: 4821390
• Math proficiency: 46% ▬ 0.00%
• Reading proficiency: 46% ▲ 4.00%
• Median HH income: $55,856
• Composite: 40.04/100
• National rank: #3820
• State rank: #237 of 826 in TX

Livability — Granbury

• Score: 66/100
• State rank: #628
• US rank: #11998

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Granbury, TX
• County: Hood County · 58,506 people
• City population: 58,506
• Metro: Granbury, TX
• Population (ZIP): 27,000
• Household income: $70,346
• Rent vs Own: 26.4% rent · 73.6% own
• Severe rent burden: 612.0

Population outlook (Hood County) Hauer SSP2

• Today (2025): 63,502 people
• By 2030: 67,459 · +6.2%
• By 2040: 74,958 · +18.0%
• By 2050: 81,922 · +29.0%
• By 2075: 98,872 · +55.7%
• By 2100: 107,796 · +69.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Hispanic / Latino 14% Two or more races 11% Black 1%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Italian 2% Slovak 2% Portuguese 1%
• Foreign-born: 4% · Canada
• Languages at home: 89% English-only · Spanish 10%

Political lean MEDSL · Hood

• 2024 margin: Solid R (+66.0) · D 16.6% · R 82.6%
• 2008→2024 swing: -11.9pp toward R · 2008: -54.0pp · 2024: -66.0pp
• All cycles: 2024: R+66.0 2020: R+64.1 2016: R+66.5 2012: R+64.7 2008: R+54.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -83.25%
• Current HPI: 272.2126
• Rent YoY: ▲ 1.10%
• Metro: Granbury, 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

+22.0% since first listed

19 events — show timeline

• 2026-05-06 Price Changed $224,500 NTREIS
• 2026-04-28 Relisted — NTREIS
• 2026-04-09 Pending — NTREIS
• 2026-03-31 Contingent — NTREIS
• 2026-03-11 Listed $225,000 NTREIS
• 2019-03-25 Sold (Public Records) — Public Records
• 2019-03-22 Sold (MLS) — NTREIS
• 2019-03-01 Pending — NTREIS
• 2019-02-15 Contingent — NTREIS
• 2019-02-13 Listed $165,000 NTREIS
• 2019-01-16 Listing Removed — NTREIS
• 2018-12-03 Price Changed $179,500 NTREIS
• 2018-11-02 Relisted — NTREIS
• 2018-11-02 Listing Removed — NTREIS
• 2018-10-29 Relisted — NTREIS
• 2018-10-24 Contingent — NTREIS
• 2018-10-15 Listed $184,000 NTREIS
• 2014-10-14 Sold (Public Records) — Public Records
• 2010-09-01 Sold (Public Records) — Public Records

Property tax history

+7.7%/yr

Latest (2025): $3,414 · +13.1% YoY. Source: county tax records.