1426 S Austin St · Sherman, TX 75090

$124,999

2 bd · 2.0 ba · 1,121 sqft · SingleFamily public records · 429 Days on market

Built 1930 5,998 sqft lot $112/sqft · 30% below area Est $180k · 30% under

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Why this score? — see what drove the C+ 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 +22.3/30.0
• ARV discount +15.0/15.0
• DSCR +7.1/10.0
• 1% rule +6.1/10.0
• Livability +3.1/5.0
• Schools +2.9/10.0
• Condition / age +2.5/5.0
• Rent growth +1.8/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

FIXER UPPER! This property needs some extensive repairs, but it has lots of potential. It is located in a popular neighborhood in Sherman, Texas. It has two bedrooms, two baths and an attached covered carport. It is being sold As Is. WE MAKE IT EASY TO OWN. This is a great opportunity! Don't wait, call us today to get more information on the owner's easy terms and smooth process that may be able to put the deed in your name and make this your dream property.

Key facts

• Extensive repairs
• 5,998 sq ft lot
• Built 1930

Tags

• ATTACHED COVERED CARPORT
• EXTENSIVE REPAIRS

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $206 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).
• Recommended offer: $110k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 3.7% 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-, schools D-.
• 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.
• Market conditions: Rents soft (-2.7%/yr); 473 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 80% 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 30% 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 $864 of loan paydown is wiped out by about $4k 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

• It's been on market 429 days — a 12% lower offer ($110k) 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

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $109,999 (12.0% below list)

Questions for the listing agent

1. It's been on market 429 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 1930 — 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. 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: 1.11% ✓
• Cap rate: 8.27%
• Cash-on-cash: 7.07%
• DSCR: 1.31
• GRM: 7.5

CMA / ARV

• ARV (median comp): $179,547
• List price: $124,999
• Delta: -30.38%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1505 S Austin St	0.07mi	2/1.0	1,214 (+8%)	10mo	$80,000	$66	71
1710 S Walnut St	0.44mi	2/2.0	1,007 (-10%)	10mo	$199,900	$199	54
301 W Rainey St	0.30mi	3/2.0 (+1)	1,231 (+10%)	13mo	$225,000	$183	54
110 W Moore St	0.56mi	2/2.0	1,028 (-8%)	10mo	$165,000	$161	51
1313 S Walnut St	0.42mi	3/2.0 (+1)	1,252 (+12%)	10mo	$217,500	$174	48
625 S Rusk St	0.67mi	2/1.0	988 (-12%)	3mo	$125,000	$127	43
2026 S Walnut St	0.58mi	3/1.0 (+1)	1,064 (-5%)	21mo	$189,999	$179	38
606 S Gordon St	0.75mi	3/2.0 (+1)	1,258 (+12%)	3mo	$165,000	$131	37
713 S Austin St	0.63mi	3/1.0 (+1)	980 (-13%)	7mo	$99,900	$102	34
201 Volunteer Dr	0.69mi	3/2.0 (+1)	1,266 (+13%)	16mo	$262,290	$207	28
2119 S Branch St	0.75mi	3/1.0 (+1)	1,040 (-7%)	23mo	$74,900	$72	25

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: -9.0%
• Equity multiple: 0.68×
• Total profit: $-11,165
• Equity at exit: $18,638

10-year hold

• IRR: -4.2%
• Equity multiple: 0.76×
• Total profit: $-8,431
• Equity at exit: $10,808

Cash invested: $35,000 (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 75090

• Home prices YoY: -20.0%
• Rents YoY: -2.7%
• Active inventory: 473
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,394 high
• Mortgage (P&I): −$656
• Tax from tax record: −$187 /mo · $2,245/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$293
• Net cashflow: $206

Break-even live

Break-even rent $1,133

Max offer price $124,999

Occupancy floor 80%

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1415 S Austin St Sherman, TX	3.0	1.0	1027	$1,180	$1.15	21d	1	0.07mi
1434 S Rusk St Unit A Sherman, TX	2.0	1.0	800	$1,200	$1.50	44d	1	0.08mi
1434 S Rusk St Unit B Sherman, TX	1.0	1.0	800	$1,000	$1.25	44d	1	0.08mi
419 W Dulin St Unit 419 Sherman, TX	3.0	2.0	1386	$1,850	$1.33	43d	1	0.19mi
417 W Dulin St Unit 417 Sherman, TX	3.0	2.0	1386	$1,850	$1.33	43d	1	0.19mi
1219 S Austin St Unit 1219 Sherman, TX	2.0	2.0	1297	$1,650	$1.27	43d	1	0.21mi
1223 S Austin St Unit 1223 Sherman, TX	2.0	2.0	1297	$1,650	$1.27	43d	1	0.21mi
232 W Lake Ave Sherman, TX	3.0	2.5	1244	$1,425	$1.15	44d	1	0.25mi
232 W Lake Ave Sherman, TX	3.0	2.5	1244	$1,395	$1.12	43d	1	0.25mi
243 W Forest Ave Sherman, TX	3.0	2.5	1244	$1,400	$1.13	43d	1	0.26mi
218 W Lake St Sherman, TX	3.0	2.5	1244	$1,495	$1.20	21d	1	0.26mi
1710 S Travis St Sherman, TX	2.0	1.5	1200	$1,200	$1.00	43d	1	0.37mi
208 E Lake Ave Sherman, TX	3.0	2.5	1238	$1,445	$1.17	43d	1	0.44mi
1402 S Montgomery St Sherman, TX	3.0	2.0	1160	$1,399	$1.21	43d	1	0.45mi
224 E Lake St Sherman, TX	2.0	1.0	889	$1,125	$1.27	43d	1	0.48mi
224 E Lake St Unit 224 Sherman, TX	2.0	1.0	889	$1,125	$1.27	43d	1	0.48mi
830 S Lyon St Sherman, TX	2.0	1.0	784	$1,095	$1.40	43d	1	0.56mi
2017 S Branch St Sherman, TX	3.0	2.0	1341	$1,700	$1.27	43d	1	0.69mi
600 E Rosedale St Sherman, TX	2.0	1.0	925	$995	$1.08	43d	1	0.78mi
923 S First St Sherman, TX	2.0	1.0	891	$1,125	$1.26	21d	1	0.89mi
1006 S Throckmorton St Sherman, TX	2.0	1.0	705	$1,026	$1.46	43d	1	0.89mi
304 E King St Sherman, TX	2.0	1.0	876	$1,250	$1.43	43d	1	0.89mi
822 S Throckmorton St Sherman, TX	3.0	2.0	1288	$1,350	$1.05	43d	1	0.95mi
1124 S Hazelwood St Sherman, TX	3.0	2.0	1347	$1,650	$1.22	43d	1	1.01mi
2700 S Travis St Sherman, TX	1.0–2.0	1.0–2.0	882	$950	$1.08	21d	1	1.02mi
817 W Lamar St Sherman, TX	3.0	2.0	1074	$1,495	$1.39	43d	1	1.08mi
908 W Houston St Sherman, TX	2.0	1.0	989	$1,299	$1.31	21d	1	1.13mi
906 W Houston St Sherman, TX	2.0	1.0	989	$1,175	$1.19	43d	1	1.14mi
214 N Ricketts St Sherman, TX	3.0	2.0	1211	$1,550	$1.28	43d	1	1.25mi
2700 Ginger Ct Sherman, TX	3.0	2.0	1090	$1,550	$1.42	43d	1	1.25mi
2733 Ginger Ct Sherman, TX	2.0	2.5	1002	$1,400	$1.40	21d	1	1.26mi
114 S Holly Ave Sherman, TX	3.0	1.5	1440	$1,195	$0.83	43d	1	1.26mi
106 N McKown Ave Sherman, TX	2.0	1.0	1066	$1,050	$0.98	21d	1	1.28mi
207 N Highland Ave Sherman, TX	2.0	1.0	1175	$1,300	$1.11	43d	1	1.28mi
2151 W Moore St Sherman, TX	1.0–2.0	1.0–2.0	840	$1,300	$1.55	21d	1	1.30mi
410 S Vaden St Unit A Sherman, TX	1.0	1.0	700	$850	$1.21	43d	1	1.36mi
1338 McCall St Sherman, TX	3.0	2.0	1248	$1,525	$1.22	43d	1	1.36mi
2841 Peony Dr Sherman, TX	3.0	2.0	1100	$1,600	$1.45	43d	1	1.39mi
1429 E Odneal St Sherman, TX	3.0	2.0	1218	$1,700	$1.40	43d	1	1.47mi
524-526 N Woods St Sherman, TX	3.0	2.0	1454	$1,445	$0.99	43d	1	1.47mi

Listing history 19 events

1. 2026-06-19
   days on market $124,999 Active 429 DOM
2. 2026-06-18
   days on market $124,999 Active 428 DOM
3. 2026-06-17
   days on market $124,999 Active 427 DOM
4. 2026-06-16
   days on market $124,999 Active 426 DOM
5. 2026-06-15
   days on market $124,999 Active 425 DOM
6. 2026-06-14
   days on market $124,999 Active 423 DOM
7. 2026-06-13
   days on market $124,999 Active 422 DOM
8. 2026-06-10
   days on market $124,999 Active 420 DOM
9. 2026-06-09
   days on market $124,999 Active 419 DOM
10. 2026-06-08
    days on market $124,999 Active 418 DOM
11. 2026-06-07
    days on market $124,999 Active 417 DOM
12. 2026-06-03
    days on market $124,999 Active 413 DOM
13. 2026-06-02
    days on market $124,999 Active 412 DOM
14. 2026-06-01
    days on market $124,999 Active 411 DOM
15. 2026-05-31
    days on market $124,999 Active 410 DOM
16. 2026-05-30
    days on market $124,999 Active 409 DOM
17. 2025-05-19
    status Active 462-char remark

    Show marketing remark (462 chars)

    FIXER UPPER! This property needs some extensive repairs, but it has lots of potential. It is located in a popular neighborhood in Sherman, Texas. It has two bedrooms, two baths and an attached covered carport. It is being sold As Is. WE MAKE IT EASY TO OWN. This is a great opportunity! Don't wait, call us today to get more information on the owner's easy terms and smooth process that may be able to put the deed in your name and make this your dream property.

18. 2025-04-23
    status Pending 462-char remark

    Show marketing remark (462 chars)

    FIXER UPPER! This property needs some extensive repairs, but it has lots of potential. It is located in a popular neighborhood in Sherman, Texas. It has two bedrooms, two baths and an attached covered carport. It is being sold As Is. WE MAKE IT EASY TO OWN. This is a great opportunity! Don't wait, call us today to get more information on the owner's easy terms and smooth process that may be able to put the deed in your name and make this your dream property.

19. 2025-03-21
    listed $124,999 Active 462-char remark

    Show marketing remark (462 chars)

    FIXER UPPER! This property needs some extensive repairs, but it has lots of potential. It is located in a popular neighborhood in Sherman, Texas. It has two bedrooms, two baths and an attached covered carport. It is being sold As Is. WE MAKE IT EASY TO OWN. This is a great opportunity! Don't wait, call us today to get more information on the owner's easy terms and smooth process that may be able to put the deed in your name and make this your dream property.

ⓘ 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: $2,245 · $187/mo
• Projected year-2 tax: $2,287 · $191/mo
• Expected delta: +$42/yr (+$4/mo · 1.9%)

ⓘ 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 6/10 Major 7 d/yr ≥108°F today · 22 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 19% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,723
• − Mortgage interest: −$7,002
• − Property taxes: −$2,245
• − Insurance: −$625
• − Repairs & maintenance: −$1,338
• − Management: −$1,338
• − Depreciation: −$3,636
• Taxable income: $539
• Est. tax owed @ 24.0%: −$129
• After-tax cash flow: $2,345/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: 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

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 · 108,053 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: 840.0

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: 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%

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

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

3 events — show timeline

• 2025-05-19 Relisted — HARMLS
• 2025-04-23 Pending — HARMLS
• 2025-03-21 Listed $124,999 HARMLS

Property tax history

+5.9%/yr

Latest (2025): $2,245 · +3.0% YoY. Source: county tax records.