321 E Butler St · Gilmer, TX 75644

$175,000

5 bd · 2.0 ba · 4,080 sqft · SingleFamily public records · 24 Days on market

Built 1950 7,841 sqft lot

---

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 +14.2/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +4.6/10.0
• DSCR +4.3/10.0
• Schools +3.5/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Investor special in the heart of Gilmer! This income-producing property offers endless potential for investors looking to expand their portfolio. Situated on a spacious lot near downtown amenities, this property features multiple living spaces with opportunity for rental income, renovation, or redevelopment. Conveniently located close to shopping, schools, and restaurants with easy access to major highways. This property is also perfect for someone looking to put in a little work and transform it into an amazing family home. With tons of space and endless possibilities, you can truly make this property your own while adding incredible value along the way. Whether you’re looking for yo

Key facts

• Spacious lot
• Close to shopping
• Growing area

Tags

• SPACIOUS LOT
• MULTIPLE LIVING SPACES
• CLOSE TO SHOPPING
• EASY ACCESS TO MAJOR HIGHWAYS
• GROWING AREA

Property features AI

Exterior

• Parking: Attached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property; Corner lot
• Construction: Composition roof
• Exterior features: Covered porch

Interior

• Bathrooms: 3 full bathrooms
• Heating & cooling: Central heating (electric); Central air; Ceiling fans
• Interior features: Electric water heater; 10 total rooms

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $30 ($364/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $168k (3.9% below list).
• Recommended offer: $168k (3.9% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 2.8% in Gilmer — 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 57/100 on livability (#1,257 in TX) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: schools D-, amenities F, commute F.
• Gilmer ISD (town): math 44% / reading 38% proficiency, ranked #372 of 826 in TX (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 207 active listings in the ZIP; 34 units permitted in Upshur County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $19k of equity ($1k loan paydown + $18k appreciation (10.0% local appreciation)).
• Upshur County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $49k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($172k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 43% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $168,205 (3.9% below list)

Questions for the listing agent

1. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.96% ✗
• Cap rate: 6.50%
• Cash-on-cash: 0.74%
• DSCR: 1.03
• GRM: 8.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 24.8%
• Equity multiple: 2.99×
• Total profit: $97,319
• Equity at exit: $157,654

10-year hold

• IRR: 21.9%
• Equity multiple: 6.82×
• Total profit: $285,231
• Equity at exit: $339,987

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 75644

• Home prices YoY: 10.0%
• Active inventory: 207
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,682 medium
• Mortgage (P&I): −$918
• Tax from tax record: −$308 /mo · $3,695/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$353
• Net cashflow: $30

Break-even live

Break-even rent $1,644

Max offer price $175,000

Occupancy floor 93%

Sensitivity live

Price	-10% $129	-5% $80	+0% $30	+5% $-19	+10% $-69
Rent	-10% $-103	-5% $-36	+0% $30	+5% $97	+10% $163
Rate	-1.0pp $118	-0.5pp $75	base $30	+0.5pp $-15	+1.0pp $-61

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 19 events

1. 2026-06-19
   days on market $175,000 Active 24 DOM
2. 2026-06-18
   days on market $175,000 Active 23 DOM
3. 2026-06-17
   days on market $175,000 Active 22 DOM
4. 2026-06-16
   days on market $175,000 Active 21 DOM
5. 2026-06-15
   days on market $175,000 Active 20 DOM
6. 2026-06-14
   days on market $175,000 Active 18 DOM
7. 2026-06-13
   days on market $175,000 Active 17 DOM
8. 2026-06-10
   days on market $175,000 Active 15 DOM
9. 2026-06-09
   days on market $175,000 Active 14 DOM
10. 2026-06-08
    days on market $175,000 Active 13 DOM
11. 2026-06-07
    days on market $175,000 Active 12 DOM
12. 2026-06-05
    days on market $175,000 Active 9 DOM
13. 2026-06-03
    days on market $175,000 Active 8 DOM
14. 2026-06-02
    days on market $175,000 Active 7 DOM
15. 2026-06-01
    days on market $175,000 Active 6 DOM
16. 2026-05-31
    days on market $175,000 Active 5 DOM
17. 2026-05-30
    days on market $175,000 Active 4 DOM
18. 2026-05-26
    listed $175,000 Active
19. 2014-04-22
    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: $3,695 · $308/mo
• Projected year-2 tax: $3,695 · $308/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 · 25 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 43% 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: $20,185
• − Mortgage interest: −$9,803
• − Property taxes: −$3,695
• − Insurance: −$875
• − Repairs & maintenance: −$1,615
• − Management: −$1,615
• − Depreciation: −$5,091
• Taxable loss: −$2,508
• Est. tax savings @ 24.0%: +$602
• After-tax cash flow: $965/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: Gilmer ISD
• NCES district ID: 4820700
• Math proficiency: 44% ▼ -8.00%
• Reading proficiency: 38% ▼ -3.00%
• Median HH income: $46,724
• Composite: 35.04/100
• National rank: #5038
• State rank: #372 of 826 in TX

Livability — Gilmer

• Score: 57/100
• State rank: #1257
• US rank: #21903

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gilmer, TX
• Population (ZIP): 12,785

Population outlook (Upshur County) Hauer SSP2

• Today (2025): 42,771 people
• By 2030: 43,788 · +2.4%
• By 2040: 45,574 · +6.6%
• By 2050: 46,683 · +9.1%
• By 2075: 49,137 · +14.9%
• By 2100: 47,457 · +11.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Black 11% Hispanic / Latino 10% Two or more races 10%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Serbian 4% Slovak 2% Lithuanian 2%
• Foreign-born: 2% · Canada, Philippines
• Languages at home: 95% English-only · Spanish 4% Chinese 1%

Political lean MEDSL · Upshur

• 2024 margin: Solid R (+71.0) · D 14.2% · R 85.2%
• 2008→2024 swing: -22.0pp toward R · 2008: -49.0pp · 2024: -71.0pp
• All cycles: 2024: R+71.0 2020: R+68.5 2016: R+68.0 2012: R+59.8 2008: R+49.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 27.46%
• Current HPI: 300.86
• 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

2 events — show timeline

• 2026-05-26 Listed $175,000 LAAR
• 2014-04-22 Sold (Public Records) — Public Records

Property tax history

+10.3%/yr

Latest (2025): $3,695 · -3.6% YoY. Source: county tax records.