103 Tate Ln · Greenville, TX 75402

$239,900

3 bd · 2.0 ba · 1,547 sqft · MultiFamily public records · 22 Days on market

Built 2021 Good condition 5,097 sqft lot ↓ 17% since listing

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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 +29.6/30.0
• DSCR +10.0/10.0
• 1% rule +9.3/10.0
• ARV discount +7.5/15.0
• Condition / age +4.0/5.0
• Livability +3.9/5.0
• Rent growth +2.2/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Tucked at the end of a quiet cul-de-sac in Ellis Place, this 2021-built half duplex proves that low-maintenance living doesn’t mean sacrificing style or space. With over 1,500 sq ft, 3 bedrooms, and 2 full baths - this home is designed for real life and easy entertaining. Nearly new and move-in ready, this 2021-built home pairs modern finishes with an open, light-filled layout. The kitchen steals the show featuring granite countertops, a large island, stainless steel appliances, walk-in pantry, and seamless flow into the living and dining areas. Whether it’s a casual night in or hosting friends, this space delivers. The split-bedroom floorplan offers ideal privacy, with a spacio

Key facts

• Quiet cul-de-sac
• Modern finishes
• Large island

Tags

• QUIET CUL-DE-SAC
• LOW-MAINTENANCE LIVING
• MODERN FINISHES
• OPEN LIGHT-FILLED LAYOUT
• GRANITE COUNTERTOPS
• LARGE ISLAND

Property features AI

Finance

• Other: No municipal utility district; Dock not permitted; Washer, dryer, and refrigerator are excluded from the sale
• Financial info: Listing terms include Cash, Conventional, FHA, VA Loan, and 1031 Exchange
• HOA & community: No association (no HOA); Community features include curbs

Exterior

• Parking: 2 covered parking spaces; 2-car attached garage with double doors, garage faces front; Concrete driveway
• Security: Smoke detector(s)
• Utilities: City water; City sewer / sewer available; Electricity connected; Cable available; Curbs and all-weather/asphalt road access; Community mailbox
• Home design: Single-family residence; Residential property; Attached (property attached YN = Yes); Entry level: One story; Year built: 2021
• Construction: Brick, rock/stone, and siding exterior; Composition roof; Slab foundation
• Exterior features: Covered porch(es); Covered patio/porch; Gutters; Exterior lighting; Private yard; Wood fence in backyard; Adjacent to greenbelt; Located on a cul-de-sac; Cleared and grassed lot

Interior

• Kitchen: Dishwasher; Disposal; Electric cooktop; Electric oven; Microwave; Built-in cabinets; Farm sink; Granite countertops; Kitchen island; Pantry and walk-in pantry; Water line to refrigerator
• Bedrooms: 3 bedrooms (all on the main level); Primary bedroom with ensuite bath, dual sinks, separate shower, separate vanities, and walk-in closet; Two secondary bedrooms with split-bedroom layout and walk-in closets
• Flooring: Carpet; Ceramic tile; Luxury vinyl plank
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air; Ceiling fan(s)
• Interior features: Decorative lighting; Granite counters; Kitchen island; Open floorplan; Walk-in closet(s); Window coverings; One living area; One dining area; Total of 8 rooms; Levels: One
• Laundry & utility: Utility room with built-in cabinets and utility closet; Full-size washer/dryer area; Washer hookup; Electric dryer hookup; Separate mud room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $240k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $864 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $240k).
• Recommended offer: $236k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.6% vs local median 4.1% in Greenville — 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 77/100 on livability (#78 in TX, #2,719 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: employment D, commute F.
• Greenville ISD (town): math 20% / reading 26% proficiency, ranked #743 of 826 in TX (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Lamar El (math 28% / reading 33%, grade F, #2,464 of 4,322 statewide, top 58%, 554 students, 59% FRL) — zoned schools at 59% FRL track the district average.
• Market conditions: Rents soft (-1.0%/yr); 295 active listings in the ZIP; 38 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,289 units permitted in Hunt County in 2024 (527 in 5+ unit buildings).
• At $3,423/mo this rent would consume 53% of the median local household income ($78k/yr) (locally 361% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Hunt County population projected at +15% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($236k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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 $236,301 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.43% ✓
• Cap rate: 10.61%
• Cash-on-cash: 15.43%
• DSCR: 1.69
• GRM: 5.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 2.5%
• Equity multiple: 1.09×
• Total profit: $6,256
• Equity at exit: $35,770

10-year hold

• IRR: 8.7%
• Equity multiple: 1.57×
• Total profit: $38,165
• Equity at exit: $20,742

Cash invested: $67,172 (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 75402

• Rents YoY: -1.0%
• Active inventory: 295
• Price-to-rent: 11.7×

Monthly cashflow live

• Estimated rent: $3,423 medium
• Mortgage (P&I): −$1,258
• Tax from tax record: −$483 /mo · $5,792/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$719
• Net cashflow: $864

Break-even live

Break-even rent $2,330

Max offer price $239,900

Occupancy floor 70%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,422
Total (2 units)			$3,423

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: $59,975
• Closing costs: $7,197
• Reserves months: —
• Total cash needed: —

Rent comps 38 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8511 Christie Ln Greenville, TX	3.0	2.0	1547	$1,895	$1.22	24d	1	0.06mi
8507 Christie Ln Greenville, TX	3.0	2.0	1581	$1,875	$1.19	20d	1	0.08mi
148 Frank St Greenville, TX	3.0	2.0	1599	$1,845	$1.15	43d	1	0.08mi
8503 Christie Ln Greenville, TX	3.0	2.0	1547	$1,995	$1.29	4d	1	0.09mi
706 Greyson Ln Greenville, TX	3.0	2.0	1605	$1,895	$1.18	43d	1	0.23mi
703 Moseley Ln Greenville, TX	3.0	2.0	1605	$1,890	$1.18	43d	1	0.25mi
111 Frank St Greenville, TX	3.0	2.0	1605	$1,800	$1.12	16d	1	0.26mi
1001 Hardaway Dr Greenville, TX	3.0	2.0	1596	$1,850	$1.16	2d	1	0.34mi
708 Hardaway Ln Greenville, TX	3.0	2.0	1605	$1,900	$1.18	10d	1	0.34mi
1005 Hardaway Ln Greenville, TX	3.0	2.0	1605	$1,950	$1.21	2d	1	0.34mi
802 Ransom Way Greenville, TX	3.0	2.0	1605	$1,900	$1.18	2d	1	0.39mi
804 Ransom Way Greenville, TX	3.0	2.0	1605	$1,900	$1.18	18d	1	0.39mi
109 Toma Hawk Dr Greenville, TX	3.0	2.0	1657	$1,900	$1.15	12d	1	0.41mi
906 Tippit Ln Greenville, TX	3.0	2.0	1605	$1,900	$1.18	2d	1	0.45mi
1017 Eva Dr Greenville, TX	3.0	2.0	1582	$1,450	$0.92	43d	1	0.48mi
1012 Eva Dr Greenville, TX	3.0	2.0	1582	$1,895	$1.20	24d	1	0.51mi
7804 Cottonwood Dr Greenville, TX	3.0	2.0	1890	$1,999	$1.06	2d	1	0.52mi
601 Beechwood Dr Greenville, TX	3.0	2.0	1890	$1,825	$0.97	24d	1	0.52mi
7806 Cottonwood Dr Greenville, TX	3.0	2.0	1650	$1,900	$1.15	4d	1	0.52mi
7803 Cottonwood Dr Greenville, TX	3.0	2.0	1621	$1,900	$1.17	43d	1	0.56mi
604 Sycamore Dr Greenville, TX	3.0	2.0	1890	$1,899	$1.00	44d	1	0.56mi
6915 Justin Ln Greenville, TX	3.0	2.0	1405	$1,925	$1.37	22d	1	0.59mi
7815 Cottonwood Dr Greenville, TX	4.0	2.0	1718	$1,900	$1.11	24d	1	0.60mi
7814 Willow Ct Greenville, TX	3.0	2.0	1890	$2,095	$1.11	7d	1	0.63mi
621 Redwood Dr Greenville, TX	4.0	2.0	1710	$2,150	$1.26	43d	1	0.64mi
710 Teakwood Dr Greenville, TX	4.0	2.0	1862	$2,095	$1.13	24d	1	0.72mi
6820 Topaz Dr Greenville, TX	3.0	2.5	1819	$900	$0.49	43d	1	0.74mi
6809 Topaz Dr Greenville, TX	3.0	3.0	2052	$1,995	$0.97	43d	1	0.76mi
1905 Center Point Ln Greenville, TX	1.0–2.0	1.0–2.0	925	$1,402	$1.52	1d	15	0.83mi
512 Oakridge Dr Greenville, TX	3.0	3.0	1695	$1,700	$1.00	43d	1	0.92mi
328 Jamie Way Greenville, TX	3.0	2.0	1841	$2,150	$1.17	18d	1	0.97mi
2504 Paul St Greenville, TX	4.0	2.0	1446	$1,850	$1.28	24d	1	0.97mi
6529 Graceland Dr Greenville, TX	3.0	2.0	1702	$1,875	$1.10	24d	1	1.10mi
1426 Thibodaux Dr Greenville, TX	3.0	2.0	1659	$1,850	$1.12	16d	1	1.15mi
3 Timberside Dr Greenville, TX	3.0	2.0	1776	$1,925	$1.08	1d	1	1.21mi
2410 Jack Finney Blvd Greenville, TX	1.0–3.0	1.0–2.0	943	$1,680	$1.78	1d	8	1.21mi
1401 Brindle Dr Greenville, TX	3.0	2.0	1290	$1,750	$1.36	43d	1	1.30mi
1412 Waverley Dr Greenville, TX	3.0	2.0	1333	$1,650	$1.24	43d	1	1.38mi

Listing history 12 events

1. 2026-05-08
   status Pending
2. 2026-04-29
   historical Active Option Contract
3. 2026-04-13
   listed $239,900 Active
4. 2026-03-19
   historical
5. 2026-02-12
   price $264,900
6. 2026-01-20
   price $274,900
7. 2025-08-20
   price $279,900
8. 2025-08-20
   status Active
9. 2025-06-23
   status Pending
10. 2025-06-20
    historical Active Option Contract
11. 2025-04-13
    price $284,900
12. 2025-03-06
    listed $289,900 Active

ⓘ 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: $5,792 · $483/mo
• Projected year-2 tax: $5,792 · $483/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $41,076
• − Mortgage interest: −$13,438
• − Property taxes: −$5,792
• − Insurance: −$1,200
• − Repairs & maintenance: −$3,286
• − Management: −$3,286
• − Depreciation: −$6,979
• Taxable income: $7,096
• Est. tax owed @ 24.0%: −$1,703
• After-tax cash flow: $8,659/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 · 12 photos

Good 80/100 Cosmetic rehab

This 2021-built half duplex is nearly new and move-in ready, featuring modern finishes and an open, light-filled layout.

Value-add opportunities

• Both Paint exterior trim — Enhances curb appeal and value
• Both Clean gutters — Improves drainage and property value

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior trim — Enhances curb appeal and value ↑
• Both Clean gutters — Improves drainage and property value ↑

ⓘ 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: Greenville ISD
• NCES district ID: 4821720
• Math proficiency: 20% ▼ -12.00%
• Reading proficiency: 26% ▼ -7.00%
• Median HH income: $41,374
• Composite: 19.56/100
• National rank: #8759
• State rank: #743 of 826 in TX

Livability — Greenville

• Score: 77/100
• State rank: #78
• US rank: #2719

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Greenville, TX
• County: Hunt County · 71,969 people
• City population: 42,767
• Metro: Dallas-Fort Worth-Arlington, TX
• Population (ZIP): 20,098
• Household income: $77,877
• Rent vs Own: 33.1% rent · 66.9% own
• Severe rent burden: 361.0

Population outlook (Hunt County) Hauer SSP2

• Today (2025): 97,090 people
• By 2030: 100,452 · +3.5%
• By 2040: 106,544 · +9.7%
• By 2050: 111,218 · +14.6%
• By 2075: 121,695 · +25.3%
• By 2100: 123,683 · +27.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 11% Black 10% Two or more races 8% Asian 2%
• Hispanic origin (detail): Mexican 7% Puerto Rican 1%
• Common ancestry: Slovak 2% Romanian 2% Lithuanian 1%
• Foreign-born: 3% · Canada, China
• Languages at home: 93% English-only · Spanish 5% Chinese 1%

Political lean MEDSL · Hunt

• 2024 margin: Solid R (+55.5) · D 21.9% · R 77.4%
• 2008→2024 swing: -14.9pp toward R · 2008: -40.6pp · 2024: -55.5pp
• All cycles: 2024: R+55.5 2020: R+52.5 2016: R+56.3 2012: R+51.2 2008: R+40.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -141.52%
• Current HPI: 232.0505
• Rent YoY: ▼ -1.00%
• Metro: Dallas-Fort Worth-Arlington, 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

-17.2% since first listed

12 events — show timeline

• 2026-05-08 Pending — NTREIS
• 2026-04-29 Contingent — NTREIS
• 2026-04-13 Listed $239,900 NTREIS
• 2026-03-19 Listing Removed — NTREIS
• 2026-02-12 Price Changed $264,900 NTREIS
• 2026-01-20 Price Changed $274,900 NTREIS
• 2025-08-20 Price Changed $279,900 NTREIS
• 2025-08-20 Relisted — NTREIS
• 2025-06-23 Pending — NTREIS
• 2025-06-20 Contingent — NTREIS
• 2025-04-13 Price Changed $284,900 NTREIS
• 2025-03-06 Listed $289,900 NTREIS

Property tax history

+8.6%/yr

Latest (2025): $5,792 · +4.0% YoY. Source: county tax records.