Lots 632 & 633 Shoshone Dr · Sherwood Shores, TX 76245

$67,899

1 bd · 1.0 ba · 672 sqft · SingleFamily · 466 Days on market

Built 1972 Poor condition 10,001 sqft lot $101/sqft · 60% below area

---

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 +26.2/30.0
• DSCR +8.9/10.0
• ARV discount +7.5/15.0
• 1% rule +7.0/10.0
• Appreciation +5.0/10.0
• Schools +3.8/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +1.0/5.0

Listing remarks MLS

MULTIPLE LOTS IN GORDONVILLE! There is an old mobile home on this property that needs extensive repairs. It can be renovated or demolished. The value is in the 10,000 Sq. Ft. lot that the mobile home is located on. Here you can relocate another mobile home, an RV, or you can build your dream home from the ground up. There are many possibilities being that this parcel is near the Red River and the Texas-Oklahoma borderline. WE ALSO HAVE MULTIPLE LOTS for sale in this subdivision. You can buy just two or all five. 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

• Near the red river
• 000 sq ft lot
• 10

Tags

• 10
• 000 SQ FT LOT
• NEAR THE RED RIVER
• MULTIPLE LOTS FOR SALE

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $68k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $174 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($814 rent vs $68k).
• Recommended offer: $60k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.4% vs local median 2.9% in Sherwood Shores — 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 49/100 on livability (#1,519 in TX) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Whitesboro ISD (town): math 43% / reading 46% proficiency, ranked #272 of 826 in TX (top 33%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Hayes Pri (463 students, 58% FRL); Whitesboro Middle (math 45% / reading 43%, grade D, #512 of 1,662 statewide, top 32%, 408 students, 56% FRL); Whitesboro H S (math 52% / reading 57%, grade C-, #379 of 1,632 statewide, top 26%, 455 students, 47% FRL).
• Market conditions: 353 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 $424 of equity ($469 loan paydown + $-45 appreciation (-0.1% local appreciation)).
• Grayson County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-0.1% appreciation + 3.0% rent growth), your $19k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 466 days — a 12% lower offer ($60k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: moderate 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 $59,751 (12.0% below list)

Questions for the listing agent

1. It's been on market 466 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1972 — 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 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.20% ✓
• Cap rate: 9.36%
• Cash-on-cash: 10.96%
• DSCR: 1.49
• GRM: 7.0

CMA / ARV

• ARV (median comp): $169,000
• List price: $67,899
• Delta: -59.82%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
284 Sioux Dr	0.16mi	1/1.0	714 (+6%)	21mo	$120,000	$168	65
500 Stone Cir	0.72mi	1/1.0	660 (-2%)	20mo	$161,000	$244	47
397 Nottingham Dr	0.70mi	2/1.0 (+1)	720 (+7%)	5mo	$65,000	$90	46

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-0.07% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 9.8%
• Equity multiple: 1.47×
• Total profit: $8,875
• Equity at exit: $19,491

10-year hold

• IRR: 14.8%
• Equity multiple: 2.61×
• Total profit: $30,690
• Equity at exit: $23,251

Cash invested: $19,012 (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 76245

• Home prices YoY: -0.1%
• Active inventory: 353
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $814 medium
• Mortgage (P&I): −$356
• Tax est. 1.5%: −$85 /mo · $1,018/yr
• Insurance: −$28
• HOA: −$0
• Vacancy / Maint / Mgmt: −$171
• Net cashflow: $174

Break-even live

Break-even rent $594

Max offer price $67,899

Occupancy floor 74%

Sensitivity live

Price	-10% $221	-5% $197	+0% $174	+5% $150	+10% $127
Rent	-10% $109	-5% $142	+0% $174	+5% $206	+10% $238
Rate	-1.0pp $208	-0.5pp $191	base $174	+0.5pp $156	+1.0pp $138

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: $16,975
• Closing costs: $2,037
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-21
   days on market $67,899 Active 466 DOM
2. 2026-06-19
   days on market $67,899 Active 464 DOM
3. 2026-06-18
   days on market $67,899 Active 463 DOM
4. 2026-06-17
   days on market $67,899 Active 462 DOM
5. 2026-06-16
   days on market $67,899 Active 461 DOM
6. 2026-06-15
   days on market $67,899 Active 460 DOM
7. 2026-06-14
   days on market $67,899 Active 458 DOM
8. 2026-06-12
   days on market $67,899 Active 457 DOM
9. 2026-06-09
   days on market $67,899 Active 454 DOM
10. 2026-06-08
    days on market $67,899 Active 453 DOM
11. 2026-06-03
    days on market $67,899 Active 448 DOM
12. 2026-06-02
    days on market $67,899 Active 447 DOM
13. 2026-06-01
    days on market $67,899 Active 446 DOM
14. 2026-05-31
    days on market $67,899 Active 445 DOM
15. 2026-05-30
    days on market $67,899 Active 444 DOM
16. 2025-03-12
    listed $67,899 Active 746-char remark

    Show marketing remark (746 chars)

    MULTIPLE LOTS IN GORDONVILLE! There is an old mobile home on this property that needs extensive repairs. It can be renovated or demolished. The value is in the 10,000 Sq. Ft. lot that the mobile home is located on. Here you can relocate another mobile home, an RV, or you can build your dream home from the ground up. There are many possibilities being that this parcel is near the Red River and the Texas-Oklahoma borderline. WE ALSO HAVE MULTIPLE LOTS for sale in this subdivision. You can buy just two or all five. 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.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 6/10 Major 7 d/yr ≥109°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 18% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $9,765
• − Mortgage interest: −$3,803
• − Property taxes: −$1,018
• − Insurance: −$339
• − Repairs & maintenance: −$781
• − Management: −$781
• − Depreciation: −$1,975
• Taxable income: $1,066
• Est. tax owed @ 24.0%: −$256
• After-tax cash flow: $1,828/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 · 6 photos

Poor 20/100 Extensive rehab

The property is in poor condition with overgrown vegetation and a mobile home that requires extensive repairs or demolition. Clearing the vegetation and addressing the mobile home issue would greatly improve the property's value and appeal.

Repairs flagged

• Major vegetation removal — The overgrown vegetation significantly impacts the property's appearance and usability
• Extensive mobile home repair or demolition — The mobile home requires extensive repairs or demolition

Value-add opportunities

• Both vegetation removal and landscaping — Clearing the vegetation would improve the property's curb appeal and make it more attractive for potential buyers or renters
• Both mobile home renovation or demolition — Renovating the mobile home or demolishing it and building a new structure would significantly increase the property's value and usability

Renovation cost estimate screening

Repair item	Severity	Est. cost
vegetation removal · The overgrown vegetation significantly impacts the property's appearance and usability	Major	$15,000–50,000
mobile home repair or demolition · The mobile home requires extensive repairs or demolition	Extensive	$500–3,000
Total estimated repair cost · 2 items		$15,500–53,000

Value-add ROI direction

• Both vegetation removal and landscaping — Clearing the vegetation would improve the property's curb appeal and make it more attractive for potential buyers or renters ↑
• Both mobile home renovation or demolition — Renovating the mobile home or demolishing it and building a new structure would significantly increase the property's value and usability ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Whitesboro ISD
• NCES district ID: 4845630
• Math proficiency: 43% ▼ -14.00%
• Reading proficiency: 46% ▼ -4.00%
• Median HH income: $49,672
• Composite: 38.19/100
• National rank: #4260
• State rank: #272 of 826 in TX

Livability — Sherwood Shores

• Score: 49/100
• State rank: #1519
• US rank: #25941

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sherwood Shores, TX
• Population (ZIP): 1,778

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: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 6% Hispanic / Latino 5% Asian 3% Native American 1%
• Common ancestry: Portuguese 3% Romanian 3% Slovak 2%
• Foreign-born: 3% · Vietnam
• Languages at home: 92% English-only · Spanish 5% Vietnamese 3%

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: ▼ -0.07%
• Current HPI: 130.9903
• 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

1 event — show timeline

• 2025-03-12 Listed $67,899 HARMLS