205 Graham Ave · Bonham, TX 75418

$117,500

3 bd · 1.0 ba · 1,192 sqft · SingleFamily public records · 77 Days on market

Built 1944 7,492 sqft lot $99/sqft · 28% below area Est $164k · 28% under

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Why this score? — see what drove the B- 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 +26.0/30.0
• ARV discount +15.0/15.0
• DSCR +8.7/10.0
• 1% rule +6.6/10.0
• Schools +3.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor special in Bonham! Great fix-and-flip or rental opportunity. This 3-bedroom home sits on a spacious lot in an established neighborhood with strong rental demand and plenty of potential for renovation. Sold as-is—bring your vision and make it your next investment project. Public Driving Directions: North Center St. go to Graham Ave., Turn Easton Graham, House will be the second house with the red roof205 Graham Avenue, Bonham, Texas 75418

Key facts

• Strong potential
• Spacious lot
• 7,492 sq ft lot

Tags

• SPACIOUS LOT
• ESTABLISHED NEIGHBORHOOD
• STRONG POTENTIAL

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $118k.

Deal economics

• At list price, monthly cash flow is $291 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $118k).
• Recommended offer: $110k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.3% vs local median 3.5% in Bonham — 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 64/100 on livability (#785 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D, schools D-, amenities F.
• Bonham ISD (town): math 37% / reading 38% proficiency, ranked #477 of 826 in TX (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 277 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 87% of comp listings sitting > 30 days — soft ceiling on asking rent; 82 units permitted in Fannin County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $812 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Fannin County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 77 days — a 6% lower offer ($110k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 23y 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 1944 — 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 $110,450 (6.0% below list)

Questions for the listing agent

1. It's been on market 77 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1944 — 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: 1.16% ✓
• Cap rate: 9.26%
• Cash-on-cash: 10.61%
• DSCR: 1.47
• GRM: 7.2

CMA / ARV

• ARV (median comp): $164,017
• List price: $117,500
• Delta: -28.36%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
217 E Boyd Ave	0.06mi	3/1.0	1,096 (-8%)	9mo	$139,000	$127	76
220 E Evans Ave	0.09mi	3/1.0	1,079 (-10%)	5mo	$150,000	$139	76
304 E Russell Ave	0.29mi	3/1.0	1,218 (+2%)	11mo	$179,000	$147	74
317 Boyd Loop	0.23mi	3/2.0	1,280 (+7%)	1mo	$205,000	$160	72
509 Allen Ave	0.45mi	2/1.0 (-1)	1,176 (-1%)	1mo	$60,000	$51	71
1309 Pine St	0.47mi	3/1.0	1,150 (-4%)	2mo	$167,900	$146	70
513 Allen Ave	0.46mi	3/2.0	1,218 (+2%)	1mo	$154,900	$127	70
1601 Franklin Ave	0.29mi	3/2.0	1,242 (+4%)	10mo	$199,900	$161	67
1711 Oriental St	0.17mi	2/1.0 (-1)	1,032 (-13%)	2mo	$118,000	$114	63
1406 Pecan	0.60mi	2/1.0 (-1)	1,134 (-5%)	7mo	$88,500	$78	53
302 E 10th St	0.70mi	2/1.0 (-1)	1,263 (+6%)	2mo	$139,900	$111	51
1316 Elm St	0.46mi	3/1.5	1,320 (+11%)	10mo	$165,000	$125	50

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: -0.4%
• Equity multiple: 0.98×
• Total profit: $-501
• Equity at exit: $17,520

10-year hold

• IRR: 9.3%
• Equity multiple: 1.71×
• Total profit: $23,455
• Equity at exit: $10,159

Cash invested: $32,900 (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 75418

• Home prices YoY: -8.9%
• Active inventory: 277
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,368 high
• Mortgage (P&I): −$616
• Tax from tax record: −$125 /mo · $1,497/yr
• Insurance: −$49
• HOA: −$0
• Vacancy / Maint / Mgmt: −$287
• Net cashflow: $291

Break-even live

Break-even rent $1,000

Max offer price $117,500

Occupancy floor 74%

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: $29,375
• Closing costs: $3,525
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
224 E Boyd St Bonham, TX	3.0	1.0	1196	$1,245	$1.04	44d	1	0.08mi
229 E Evans Ave Bonham, TX	3.0	2.0	1090	$1,264	$1.16	44d	1	0.16mi
1803 Franklin St Unit 1 Bonham, TX	2.0	1.0	1006	$1,100	$1.09	44d	1	0.23mi
1624 Cedar St Bonham, TX	3.0	2.0	1004	$1,275	$1.27	44d	1	0.42mi
317 Jones St Bonham, TX	3.0	2.0	1067	$1,500	$1.41	44d	1	0.49mi
708 Union Ave Bonham, TX	2.0	1.0	828	$1,100	$1.33	44d	1	0.61mi
1014 Pine St Bonham, TX	3.0	2.0	1200	$1,475	$1.23	44d	1	0.66mi
808 E 12th St Bonham, TX	3.0	2.0	1234	$1,595	$1.29	19d	1	0.67mi
913 W 12th St Bonham, TX	3.0	2.0	1355	$1,700	$1.25	44d	1	0.83mi
412 E 7th St Unit 2 Bonham, TX	3.0	2.5	1366	$1,500	$1.10	44d	1	0.84mi
406 W 6th St Bonham, TX	3.0	2.0	1198	$1,350	$1.13	44d	1	0.94mi
613 E 3rd St Bonham, TX	3.0	2.0	1197	$1,299	$1.09	22d	1	1.10mi
608 E 3rd St Unit 2 Bonham, TX	3.0	2.0	1197	$1,295	$1.08	44d	1	1.13mi
406 S 6th St Unit 1 Bonham, TX	3.0	2.0	1198	$1,300	$1.09	44d	1	1.42mi
805 S 6th St Unit 1 Bonham, TX	3.0	2.5	1229	$1,450	$1.18	44d	1	1.48mi

Listing history 23 events

1. 2026-06-19
   days on market $117,500 Active 77 DOM
2. 2026-06-18
   days on market $117,500 Active 76 DOM
3. 2026-06-17
   days on market $117,500 Active 75 DOM
4. 2026-06-16
   days on market $117,500 Active 74 DOM
5. 2026-06-15
   days on market $117,500 Active 73 DOM
6. 2026-06-14
   days on market $117,500 Active 71 DOM
7. 2026-06-12
   days on market $117,500 Active 70 DOM
8. 2026-06-09
   days on market $117,500 Active 67 DOM
9. 2026-06-08
   days on market $117,500 Active 66 DOM
10. 2026-06-07
    days on market $117,500 Active 65 DOM
11. 2026-06-05
    days on market $117,500 Active 63 DOM
12. 2026-06-04
    days on market $117,500 Active 61 DOM
13. 2026-06-02
    days on market $117,500 Active 60 DOM
14. 2026-06-01
    days on market $117,500 Active 59 DOM
15. 2026-05-31
    days on market $117,500 Active 58 DOM
16. 2026-05-31
    days on market $117,500 Active 57 DOM
17. 2026-05-14
    price $117,500 459-char remark

    Show marketing remark (459 chars)

    Investor special in Bonham! Great fix-and-flip or rental opportunity. This 3-bedroom home sits on a spacious lot in an established neighborhood with strong rental demand and plenty of potential for renovation. Sold as-is—bring your vision and make it your next investment project. Public Driving Directions: North Center St. go to Graham Ave., Turn Easton Graham, House will be the second house with the red roof205 Graham Avenue, Bonham, Texas 75418

18. 2026-04-21
    price $118,999 459-char remark

    Show marketing remark (459 chars)

    Investor special in Bonham! Great fix-and-flip or rental opportunity. This 3-bedroom home sits on a spacious lot in an established neighborhood with strong rental demand and plenty of potential for renovation. Sold as-is—bring your vision and make it your next investment project. Public Driving Directions: North Center St. go to Graham Ave., Turn Easton Graham, House will be the second house with the red roof205 Graham Avenue, Bonham, Texas 75418

19. 2026-04-03
    listed $119,000 Active 459-char remark

    Show marketing remark (459 chars)

    Investor special in Bonham! Great fix-and-flip or rental opportunity. This 3-bedroom home sits on a spacious lot in an established neighborhood with strong rental demand and plenty of potential for renovation. Sold as-is—bring your vision and make it your next investment project. Public Driving Directions: North Center St. go to Graham Ave., Turn Easton Graham, House will be the second house with the red roof205 Graham Avenue, Bonham, Texas 75418

20. 2017-11-09
    soldstatus
21. 2003-10-31
    soldstatus
22. 2003-10-28
    historical
23. 2003-08-18
    listed $29,500

ⓘ 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: $1,497 · $125/mo
• Projected year-2 tax: $2,150 · $179/mo
• Expected delta: +$653/yr (+$54/mo · 43.6%)

ⓘ 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 ≥111°F today · 22 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 24% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,419
• − Mortgage interest: −$6,582
• − Property taxes: −$1,497
• − Insurance: −$588
• − Repairs & maintenance: −$1,313
• − Management: −$1,313
• − Depreciation: −$3,418
• Taxable income: $1,707
• Est. tax owed @ 24.0%: −$410
• After-tax cash flow: $3,082/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: Bonham ISD
• NCES district ID: 4810800
• Math proficiency: 37% ▼ -1.00%
• Reading proficiency: 38% ▼ -2.00%
• Median HH income: $41,740
• Composite: 31.63/100
• National rank: #5937
• State rank: #477 of 826 in TX

Livability — Bonham

• Score: 64/100
• State rank: #785
• US rank: #14360

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bonham, TX
• County: Fannin County · 15,155 people
• City population: 15,155
• Metro: Bonham, TX
• Population (ZIP): 15,155
• Household income: $68,918
• Rent vs Own: 24.8% rent · 75.2% own
• Severe rent burden: 281.0

Population outlook (Fannin County) Hauer SSP2

• Today (2025): 33,423 people
• By 2030: 33,035 · -1.2%
• By 2040: 32,250 · -3.5%
• By 2050: 31,462 · -5.9%
• By 2075: 29,447 · -11.9%
• By 2100: 25,459 · -23.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Hispanic / Latino 17% Black 10% Two or more races 8%
• Hispanic origin (detail): Mexican 16%
• Common ancestry: Lithuanian 3% Slovak 1% Italian 1%
• Foreign-born: 7% · Canada, Philippines
• Languages at home: 85% English-only · Spanish 14%

Political lean MEDSL · Fannin

• 2024 margin: Solid R (+67.4) · D 15.9% · R 83.3%
• 2008→2024 swing: -27.8pp toward R · 2008: -39.6pp · 2024: -67.4pp
• All cycles: 2024: R+67.4 2020: R+63.4 2016: R+61.9 2012: R+52.5 2008: R+39.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -25.59%
• Current HPI: 262.7177
• Rent YoY: —
• Metro: Bonham, 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

+298.3% since first listed

7 events — show timeline

• 2026-05-14 Price Changed $117,500 NTREIS
• 2026-04-21 Price Changed $118,999 NTREIS
• 2026-04-03 Listed $119,000 NTREIS
• 2017-11-09 Sold (Public Records) — Public Records
• 2003-10-31 Sold (Public Records) — Public Records
• 2003-10-28 Listing Removed — NTREIS
• 2003-08-18 Listed $29,500 NTREIS

Property tax history

+7.4%/yr

Latest (2025): $1,497 · -4.9% YoY. Source: county tax records.