159 Oklahoma Ave · Preston, TX 75076

$180,000

2 bd · 2.0 ba · 924 sqft · Manufactured public records · 233 Days on market

Built 1972 7,492 sqft lot $195/sqft · 27% below area Est $247k · 27% under

---

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).

• ARV discount +15.0/15.0
• Cash flow +10.8/30.0
• Schools +3.7/10.0
• DSCR +3.1/10.0
• Livability +2.8/5.0
• 1% rule +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Lake property with beach access. Whether you plan on using it as a get a way or an income producing property, this place should be on your list. Very well maintained Lake Home with deck, storage shed and a fenced in backyard for your animals. Vinyl flooring for easy cleaning with exception of bedrooms. Furniture negotiable

Key facts

• Vinyl flooring
• Fenced in backyard
• Storage shed

Tags

• BEACH ACCESS
• DECK
• STORAGE SHED
• FENCED IN BACKYARD
• VINYL FLOORING

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $180k.

Deal economics

• At list price, monthly cash flow is $-81 ($-975/yr) — negative.
• To cash-flow at today's rent, offer at most $166k (8.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $135k (25.1% below list).
• Recommended offer: $135k (25.1% below list) — sets the bar for 1% rule.
• Cap rate 5.8% vs local median 2.9% in Preston — 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 56/100 on livability (#1,306 in TX) — a working-class tenant base; expect higher turnover. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D, amenities F, commute F.
• Pottsboro ISD (suburban): math 39% / reading 48% proficiency, ranked #288 of 826 in TX (top 35%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Pottsboro El (math 45% / reading 50%, grade D, #989 of 4,322 statewide, top 23%, 543 students, 41% FRL); Pottsboro Middle (math 37% / reading 43%, grade F, #646 of 1,662 statewide, top 40%, 459 students, 40% FRL); Pottsboro H S (math 37% / reading 57%, grade D-, #591 of 1,632 statewide, top 38%, 487 students, 30% FRL) — zoned schools at 37% FRL track the district average.
• Market conditions: 293 active listings in the ZIP; solid renter incomes; 2,272 units permitted in Grayson County in 2024 (750 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.
• 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 233 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 7y 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

• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $134,801 (25.1% 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 233 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
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. 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?
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: 0.75% ✗
• Cap rate: 5.75%
• Cash-on-cash: -1.94%
• DSCR: 0.91
• GRM: 11.1

CMA / ARV

• ARV (median comp): $246,866
• List price: $180,000
• Delta: -27.09%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
247 Elizabeth St	0.36mi	2/1.0	840 (-9%)	22mo	$58,000	$69	46

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: -19.5%
• Equity multiple: 0.32×
• Total profit: $-34,384
• Equity at exit: $26,839

10-year hold

• IRR: -12.4%
• Equity multiple: 0.27×
• Total profit: $-36,768
• Equity at exit: $15,563

Cash invested: $50,400 (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 75076

• Home prices YoY: -17.3%
• Active inventory: 293
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $1,348 medium
• Mortgage (P&I): −$944
• Tax from tax record: −$127 /mo · $1,527/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$283
• Net cashflow: $-81

Break-even live

Break-even rent $1,451

Max offer price $165,642

Occupancy floor —

Sensitivity live

Price	-10% $21	-5% $-30	+0% $-81	+5% $-132	+10% $-183
Rent	-10% $-188	-5% $-135	+0% $-81	+5% $-28	+10% $25
Rate	-1.0pp $9	-0.5pp $-35	base $-81	+0.5pp $-128	+1.0pp $-175

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Listing history 38 events

1. 2026-06-21
   days on market $180,000 Active 233 DOM
2. 2026-06-19
   days on market $180,000 Active 231 DOM
3. 2026-06-18
   days on market $180,000 Active 230 DOM
4. 2026-06-17
   days on market $180,000 Active 229 DOM
5. 2026-06-16
   days on market $180,000 Active 228 DOM
6. 2026-06-15
   days on market $180,000 Active 227 DOM
7. 2026-06-14
   days on market $180,000 Active 225 DOM
8. 2026-06-13
   days on market $180,000 Active 224 DOM
9. 2026-06-10
   days on market $180,000 Active 222 DOM
10. 2026-06-09
    days on market $180,000 Active 221 DOM
11. 2026-06-08
    days on market $180,000 Active 220 DOM
12. 2026-06-07
    days on market $180,000 Active 219 DOM
13. 2026-06-03
    days on market $180,000 Active 215 DOM
14. 2026-06-02
    days on market $180,000 Active 214 DOM
15. 2026-06-01
    days on market $180,000 Active 213 DOM
16. 2026-05-31
    days on market $180,000 Active 212 DOM
17. 2026-05-30
    days on market $180,000 Active 211 DOM
18. 2025-10-31
    listed $180,000 Active 328-char remark

    Show marketing remark (328 chars)

    Lake property with beach access. Whether you plan on using it as a get a way or an income producing property, this place should be on your list. Very well maintained Lake Home with deck, storage shed and a fenced in backyard for your animals. Vinyl flooring for easy cleaning with exception of bedrooms. Furniture negotiable

19. 2022-08-26
    soldstatus
20. 2022-08-25
    soldstatus Closed 680-char remark

    Show marketing remark (680 chars)

    Live the LAKE LIFE at Texoma in this highly desirable neighborhood on the Preston Peninsula! You'll feel like you are on vacation year 'round! Wake up to coffee on the deck. Plenty of space to grill out and have friends and family around. Only a short distance to one of the most beautiful beaches you'll find on the lake as well as two local marinas. Beautiful treed drive into your property. Completely remodeled, kitchen with large island, fresh paint in and out, new water heater, stove, washer and dryer fenced yard, ready to go for the season. Platted access to beach areas, best place on the lake to ride your golf cart around! Call your favorite agent to tour today!

21. 2022-07-10
    status Pending 680-char remark

    Show marketing remark (680 chars)

    Live the LAKE LIFE at Texoma in this highly desirable neighborhood on the Preston Peninsula! You'll feel like you are on vacation year 'round! Wake up to coffee on the deck. Plenty of space to grill out and have friends and family around. Only a short distance to one of the most beautiful beaches you'll find on the lake as well as two local marinas. Beautiful treed drive into your property. Completely remodeled, kitchen with large island, fresh paint in and out, new water heater, stove, washer and dryer fenced yard, ready to go for the season. Platted access to beach areas, best place on the lake to ride your golf cart around! Call your favorite agent to tour today!

22. 2022-06-30
    historical Active Option Contract 680-char remark

    Show marketing remark (680 chars)

    Live the LAKE LIFE at Texoma in this highly desirable neighborhood on the Preston Peninsula! You'll feel like you are on vacation year 'round! Wake up to coffee on the deck. Plenty of space to grill out and have friends and family around. Only a short distance to one of the most beautiful beaches you'll find on the lake as well as two local marinas. Beautiful treed drive into your property. Completely remodeled, kitchen with large island, fresh paint in and out, new water heater, stove, washer and dryer fenced yard, ready to go for the season. Platted access to beach areas, best place on the lake to ride your golf cart around! Call your favorite agent to tour today!

23. 2022-06-13
    listed $162,500 Active 680-char remark

    Show marketing remark (680 chars)

    Live the LAKE LIFE at Texoma in this highly desirable neighborhood on the Preston Peninsula! You'll feel like you are on vacation year 'round! Wake up to coffee on the deck. Plenty of space to grill out and have friends and family around. Only a short distance to one of the most beautiful beaches you'll find on the lake as well as two local marinas. Beautiful treed drive into your property. Completely remodeled, kitchen with large island, fresh paint in and out, new water heater, stove, washer and dryer fenced yard, ready to go for the season. Platted access to beach areas, best place on the lake to ride your golf cart around! Call your favorite agent to tour today!

24. 2022-01-17
    historical
25. 2021-09-22
    price $162,500
26. 2021-08-20
    status Active
27. 2021-08-19
    historical Active Option Contract
28. 2021-07-14
    price $167,500
29. 2021-06-07
    listed $175,000 Active
30. 2020-06-11
    soldstatus
31. 2020-06-05
    soldstatus Sold
32. 2020-05-22
    status Pending
33. 2020-02-19
    status Active
34. 2020-02-10
    historical Active Option Contract
35. 2019-09-23
    price $84,500
36. 2019-07-31
    price $86,500
37. 2019-06-14
    listed $89,000 Active
38. 2001-07-18
    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: $1,527 · $127/mo
• Projected year-2 tax: $3,294 · $274/mo
• Expected delta: +$1,767/yr (+$147/mo · 115.7%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥110°F today · 21 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 18% 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: $16,176
• − Mortgage interest: −$10,083
• − Property taxes: −$1,527
• − Insurance: −$900
• − Repairs & maintenance: −$1,294
• − Management: −$1,294
• − Depreciation: −$5,236
• Taxable loss: −$4,158
• Est. tax savings @ 24.0%: +$998
• After-tax cash flow: $23/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: Pottsboro ISD
• NCES district ID: 4835580
• Math proficiency: 39% ▼ -11.00%
• Reading proficiency: 48% ▼ -6.00%
• Median HH income: $50,811
• Composite: 37.44/100
• National rank: #4414
• State rank: #288 of 826 in TX

Livability — Preston

• Score: 56/100
• State rank: #1306
• US rank: #22637

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Preston, TX
• County: Grayson County · 108,053 people
• Metro: Sherman-Denison, TX
• Population (ZIP): 7,989
• Household income: $76,919
• Rent vs Own: 18.2% rent · 81.8% own
• Severe rent burden: 169.0

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: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 7% Hispanic / Latino 3% Asian 1% Native American 1%
• Common ancestry: Serbian 2% Scottish 2% Scotch-Irish 2%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 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: ▼ -51.29%
• Current HPI: 244.52
• Rent YoY: —
• 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

+102.2% since first listed

21 events — show timeline

• 2025-10-31 Listed $180,000 NTREIS
• 2022-08-26 Sold (Public Records) — Public Records
• 2022-08-25 Sold (MLS) — NTREIS
• 2022-07-10 Pending — NTREIS
• 2022-06-30 Contingent — NTREIS
• 2022-06-13 Listed $162,500 NTREIS
• 2022-01-17 Listing Removed — NTREIS
• 2021-09-22 Price Changed $162,500 NTREIS
• 2021-08-20 Relisted — NTREIS
• 2021-08-19 Contingent — NTREIS
• 2021-07-14 Price Changed $167,500 NTREIS
• 2021-06-07 Listed $175,000 NTREIS
• 2020-06-11 Sold (Public Records) — Public Records
• 2020-06-05 Sold (MLS) — NTREIS
• 2020-05-22 Pending — NTREIS
• 2020-02-19 Relisted — NTREIS
• 2020-02-10 Contingent — NTREIS
• 2019-09-23 Price Changed $84,500 NTREIS
• 2019-07-31 Price Changed $86,500 NTREIS
• 2019-06-14 Listed $89,000 NTREIS
• 2001-07-18 Sold (Public Records) — Public Records

Property tax history

+8.3%/yr

Latest (2025): $1,527 · +0.5% YoY. Source: county tax records.