2334 Sanbar Rd #8 · Graford, TX 76449

$175,000

3 bd · 2.0 ba · 1,080 sqft · Manufactured · 132 Days on market

Built 2005 5,445 sqft lot $162/sqft · 42% above area Est $123k · 42% over ↓ 8% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +3.4/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

If you’ve been searching for a lake getaway with HUGE views and plenty of outdoor space, this is the one! This 3-bedroom, 2-bath home is tucked away at the end of the mailbox road in Golden Cove, offering a peaceful setting with minimal traffic—your most frequent visitors are likely to be invited guests or the friendly neighborhood deer and geese. The expansive covered lakeside deck is perfect for cookouts, gatherings, and relaxing with friends, while the uncovered section is ideal for soaking up the sunshine or enjoying an afternoon nap. Inside, the open living-dining-kitchen floor plan is designed for lake living and entertaining, with a breakfast bar and room to accommodate large groups. Two of the bedrooms capture those incredible lake views, bringing the outdoors in. The kitchen offers ample counter space and storage, includes a dishwasher, and connects conveniently to a separate laundry room. An exterior door near the parking area provides easy access to the outside storage building—perfect for lake gear. The spacious guest bedrooms easily accommodate guests, and the shared bathroom is generously sized. The primary bedroom features an en-suite bath, giving this cozy cabin a true “home away from home” feel-or the comfort you’d want for full-time living at Possum Kingdom. Bonus: This property is being offered fully furnished! Golden Cove is a one-of-a-kind community known for its built-in “lake family,” community activities, and excellent amenities including a swim cove, boat ramp, dock, pavilion, on-site mailbox area, and rentable cabins for overflow guests. Rentable storage units within the community make it easy to keep your boat and lake extras ready to go. This is leasehold land with a currently renewable two-year lease, paid monthly. Golden Cove is an affordable and welcoming place to begin your lake life - land taxes are paid by the landowner, you’ll be close to all the lake hot spots, and can enjoy some of the most amazing sunsets on Possum Kingdom Lake.

Key facts

• Ample counter space
• Excellent amenities
• Lake getaway

Tags

• LAKE GETAWAY
• COVERED LAKESIDE DECK
• OPEN LIVING DINING KITCHEN
• AMPLE COUNTER SPACE
• FULLY FURNISHED
• EXCELLENT AMENITIES

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $175k.

Deal economics

• At list price, monthly cash flow is $876 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $175k).
• Recommended offer: $154k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.3% 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 $1k of loan paydown is wiped out by about $5k 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 $49k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 132 days — a 12% lower offer ($154k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y 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.

Recommended offer $154,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 132 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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?
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: 1.51% ✓
• Cap rate: 12.30%
• Cash-on-cash: 21.44%
• DSCR: 1.95
• GRM: 5.5

CMA / ARV

• ARV (median comp): $122,856
• List price: $175,000
• Delta: 42.44%
• Verdict: OVERPRICED
• Comps: 13 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2334 Sanbar Rd #71	0.00mi	3/2.0	1,120 (+4%)	1mo	$90,000	$80	93
2334 Sanbar Rd #98	0.06mi	3/2.0	1,062 (-2%)	12mo	$72,000	$68	85
2334 Sanbar Rd #96	0.06mi	3/2.0	924 (-14%)	0mo	$70,000	$76	73
2334 Sanbar Rd #70	0.06mi	3/2.0	1,216 (+13%)	12mo	$115,000	$95	66
2334 Sanbar Rd #108	0.00mi	3/2.0	1,216 (+13%)	19mo	$80,000	$66	63
2334 Sanbar Rd #32	0.00mi	2/1.0 (-1)	1,210 (+12%)	14mo	$49,999	$41	59

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 14.0%
• Equity multiple: 1.56×
• Total profit: $27,446
• Equity at exit: $26,093

10-year hold

• IRR: 22.8%
• Equity multiple: 2.96×
• Total profit: $95,866
• Equity at exit: $15,131

Cash invested: $49,000 (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 76449

• Home prices YoY: -27.7%
• Active inventory: 465
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $2,639 medium
• Mortgage (P&I): −$918
• Tax est. 1.5%: −$219 /mo · $2,625/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$554
• Net cashflow: $876

Break-even live

Break-even rent $1,531

Max offer price $175,000

Occupancy floor 62%

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-19
   days on market $175,000 Active 132 DOM
2. 2026-06-18
   days on market $175,000 Active 131 DOM
3. 2026-06-17
   days on market $175,000 Active 130 DOM
4. 2026-06-16
   days on market $175,000 Active 129 DOM
5. 2026-06-15
   days on market $175,000 Active 128 DOM
6. 2026-06-14
   days on market $175,000 Active 126 DOM
7. 2026-06-12
   days on market $175,000 Active 125 DOM
8. 2026-06-09
   days on market $175,000 Active 122 DOM
9. 2026-06-08
   days on market $175,000 Active 121 DOM
10. 2026-06-07
    days on market $175,000 Active 120 DOM
11. 2026-06-05
    days on market $175,000 Active 118 DOM
12. 2026-06-04
    days on market $175,000 Active 116 DOM
13. 2026-06-02
    days on market $175,000 Active 115 DOM
14. 2026-06-01
    days on market $175,000 Active 114 DOM
15. 2026-05-31
    days on market $175,000 Active 113 DOM
16. 2026-05-31
    days on market $175,000 Active 112 DOM
17. 2026-02-04
    listed $175,000 Active 2054-char remark

    Show marketing remark (2054 chars)

    If you’ve been searching for a lake getaway with HUGE views and plenty of outdoor space, this is the one! This 3-bedroom, 2-bath home is tucked away at the end of the mailbox road in Golden Cove, offering a peaceful setting with minimal traffic—your most frequent visitors are likely to be invited guests or the friendly neighborhood deer and geese. The expansive covered lakeside deck is perfect for cookouts, gatherings, and relaxing with friends, while the uncovered section is ideal for soaking up the sunshine or enjoying an afternoon nap. Inside, the open living-dining-kitchen floor plan is designed for lake living and entertaining, with a breakfast bar and room to accommodate large groups. Two of the bedrooms capture those incredible lake views, bringing the outdoors in. The kitchen offers ample counter space and storage, includes a dishwasher, and connects conveniently to a separate laundry room. An exterior door near the parking area provides easy access to the outside storage building—perfect for lake gear. The spacious guest bedrooms easily accommodate guests, and the shared bathroom is generously sized. The primary bedroom features an en-suite bath, giving this cozy cabin a true “home away from home” feel-or the comfort you’d want for full-time living at Possum Kingdom. Bonus: This property is being offered fully furnished! Golden Cove is a one-of-a-kind community known for its built-in “lake family,” community activities, and excellent amenities including a swim cove, boat ramp, dock, pavilion, on-site mailbox area, and rentable cabins for overflow guests. Rentable storage units within the community make it easy to keep your boat and lake extras ready to go. This is leasehold land with a currently renewable two-year lease, paid monthly. Golden Cove is an affordable and welcoming place to begin your lake life - land taxes are paid by the landowner, you’ll be close to all the lake hot spots, and can enjoy some of the most amazing sunsets on Possum Kingdom Lake.

18. 2024-10-18
    historical
19. 2024-09-12
    listed $180,000 Active
20. 2024-09-09
    historical
21. 2024-03-21
    listed $190,000 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: $31,670
• − Mortgage interest: −$9,803
• − Property taxes: −$2,625
• − Insurance: −$875
• − Repairs & maintenance: −$2,534
• − Management: −$2,534
• − Depreciation: −$5,091
• Taxable income: $8,209
• Est. tax owed @ 24.0%: −$1,970
• After-tax cash flow: $8,536/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

-7.9% since first listed

5 events — show timeline

• 2026-02-04 Listed $175,000 NTREIS
• 2024-10-18 Listing Removed — NTREIS
• 2024-09-12 Listed $180,000 NTREIS
• 2024-09-09 Listing Removed — NTREIS
• 2024-03-21 Listed $190,000 NTREIS