3515 Lee St · Greenville, TX 75401

$185,000

4 bd · 2.0 ba · 1,780 sqft · SingleFamily public records · 13 Days on market

Built 1965 5,401 sqft lot Est $244k · 24% under ↓ 10% since listing

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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 +13.3/30.0
• 1% rule +4.5/10.0
• DSCR +4.0/10.0
• Livability +3.9/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Spacious 2-Story Home with Workshop & Fireplace in Greenville! Welcome to 3515 Lee Street — this well-maintained 4-bedroom, 2-bath home features multiple living areas, a cozy fireplace, and a flexible layout perfect for families or multi-use living. The large kitchen connects to a formal dining room and additional sitting areas, offering plenty of space to entertain. Upstairs includes two additional bedrooms and a bonus living area. Outside, enjoy the oversized carport, back deck, and a detached workshop ideal for hobbies or storage. Conveniently located near shopping, dining, and schools. OWNER FINANCE AVAILABLE!!! Contact Listing agent for terms!

Key facts

• Bonus living area
• Oversized carport
• Flexible layout

Tags

• FIREPLACE
• OVERSIZED CARPORT
• BACK DECK
• FLEXIBLE LAYOUT
• MULTIPLE LIVING AREAS
• BONUS LIVING AREA

Property features AI

Finance

• Other: Transaction type: For Sale; Possession at closing/funding; Listing agreement: Exclusive right to sell
• Financial info: Listing terms include Cash, Conventional, and Owner will carry; No second mortgage
• HOA & community: No homeowners association

Exterior

• Parking: Attached carport; Covered parking for 2 vehicles; 2 carport spaces
• Security: No specific security features provided
• Utilities: City water; City sewer; Not in a municipal utility district
• Home design: Single-family residence; Residential property; Property attached: Yes; Built in 1965
• Construction: Year built 1965; No construction material, roof, or foundation details provided
• Exterior features: Lot under 0.5 acre (approximately 0.124 acre); Subdivision: Orig Town Of Greenville

Interior

• Kitchen: Electric range
• Bedrooms: 4 bedrooms; Primary bedroom on main level (15 x 11)
• Flooring: No flooring details provided
• Bathrooms: 2 full bathrooms
• Heating & cooling: No heating or cooling details provided
• Interior features: Two-level layout; One living area; One dining area; Decorative fireplace in the living room; Other interior features
• Laundry & utility: No specific laundry details provided

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $-1 ($-17/yr) — negative.
• To cash-flow at today's rent, offer at most $185k (0.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $175k (5.3% below list).
• Recommended offer: $175k (5.3% below list) — sets the bar for 1% rule.
• Cap rate 6.3% 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: Carver El (math 18% / reading 15%, grade F, #3,946 of 4,322 statewide, top 92%, 524 students, 93% FRL) — zoned schools average 93% FRL vs 55% district-wide (38 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 395 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,289 units permitted in Hunt County in 2024 (527 in 5+ unit buildings).
• This rent runs 35% of the median local income ($60k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $175,243 (5.3% 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. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
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: 0.95% ✗
• Cap rate: 6.28%
• Cash-on-cash: -0.03%
• DSCR: 1.00
• GRM: 8.8

CMA / ARV

• ARV (on-the-fly): $243,860
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3525 Lee St	0.02mi	3/2.0 (-1)	1,750 (-2%)	1mo	$234,999	$134	91
3717 Lee St	0.15mi	4/2.0	1,553 (-13%)	2mo	$231,500	$149	70
4501 Washington St	0.62mi	4/2.5	1,771 (-0%)	1mo	$268,888	$152	67
3915 Caddo St	0.56mi	4/3.0	1,737 (-2%)	6mo	$297,700	$171	61
1708 Wright St	0.45mi	3/2.0 (-1)	1,640 (-8%)	1mo	$224,990	$137	60
3817 Spencer St	0.29mi	3/2.0 (-1)	1,521 (-15%)	0mo	$199,900	$131	57
3901 Oneal St	0.60mi	4/2.0	1,607 (-10%)	1mo	$168,000	$105	55
1411 Wesley St	0.70mi	4/2.0	1,895 (+6%)	6mo	$250,000	$132	52
4020 Spencer St	0.39mi	3/2.0 (-1)	1,605 (-10%)	10mo	$95,000	$59	52
3420 Caddo St	0.46mi	3/2.0 (-1)	1,574 (-12%)	4mo	$165,000	$105	51
4613 Lee St	0.73mi	4/2.0	1,911 (+7%)	4mo	$285,000	$149	50
3012 Silver St	0.65mi	3/2.0 (-1)	1,619 (-9%)	0mo	$260,000	$161	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 · 0.62% rent growth · sell at horizon

5-year hold

• IRR: -19.2%
• Equity multiple: 0.34×
• Total profit: $-34,078
• Equity at exit: $27,584

10-year hold

• IRR: -18.3%
• Equity multiple: 0.12×
• Total profit: $-45,456
• Equity at exit: $15,995

Cash invested: $51,800 (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 75401

• Home prices YoY: -20.7%
• Rents YoY: 0.6%
• Active inventory: 395
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,752 high
• Mortgage (P&I): −$970
• Tax from tax record: −$339 /mo · $4,064/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$368
• Net cashflow: $-1

Break-even live

Break-even rent $1,754

Max offer price $184,743

Occupancy floor 95%

Sensitivity live

Price	-10% $103	-5% $51	+0% $-1	+5% $-54	+10% $-106
Rent	-10% $-140	-5% $-71	+0% $-1	+5% $68	+10% $137
Rate	-1.0pp $92	-0.5pp $46	base $-1	+0.5pp $-49	+1.0pp $-98

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3819 Henry St Greenville, TX	3.0	2.0	1590	$1,295	$0.81	14d	1	0.24mi
3614 Short St Greenville, TX	3.0	2.0	1323	$1,575	$1.19	0d	1	0.26mi
3614 Short St Greenville, TX	3.0	2.0	1323	$1,600	$1.21	45d	1	0.26mi
2113 Wright St Unit A Greenville, TX	3.0	2.5	1436	$1,800	$1.25	45d	1	0.29mi
2811 Walnut St Greenville, TX	3.0	2.0	1368	$1,595	$1.17	45d	1	0.30mi
3307 Polk St Unit A Greenville, TX	3.0	2.0	1288	$1,550	$1.20	19d	1	0.33mi
2902 Walnut St Greenville, TX	4.0	3.0	2189	$2,050	$0.94	25d	1	0.34mi
3310 Polk St Greenville, TX	3.0	2.0	1513	$1,800	$1.19	25d	1	0.34mi
2406 Beecha St Greenville, TX	3.0	2.0	1263	$1,575	$1.25	45d	1	0.36mi
1901 Wright St Greenville, TX	3.0	2.0	1260	$1,550	$1.23	0d	1	0.37mi
3603 McDougal St Greenville, TX	5.0	2.0	1472	$1,850	$1.26	45d	1	0.40mi
2209 Wellington St Greenville, TX	3.0	2.0	1372	$1,499	$1.09	0d	1	0.40mi
1707 Wright St Greenville, TX	3.0	2.0	1400	$1,725	$1.23	6d	1	0.45mi
3840 McDougal St Greenville, TX	3.0	2.0	1458	$2,000	$1.37	8d	1	0.46mi
3303 Texas St Greenville, TX	3.0	1.0	1260	$1,450	$1.15	4d	1	0.48mi
4203 Pickett St Greenville, TX	4.0	2.5	2413	$2,200	$0.91	45d	1	0.48mi
2210 Langford St Greenville, TX	4.0	2.0	1510	$1,595	$1.06	45d	1	0.48mi
2225 College St Greenville, TX	4.0	2.5	1832	$2,000	$1.09	45d	1	0.51mi
2225 College St Greenville, TX	3.0	2.0	1439	$1,800	$1.25	25d	1	0.51mi
1711 Langford St Greenville, TX	3.0	1.5	1274	$1,495	$1.17	23d	1	0.54mi
1711 Langford St Greenville, TX	3.0	1.5	1274	$1,495	$1.17	25d	1	0.54mi
3110 Saint John St Greenville, TX	3.0	2.0	1273	$1,500	$1.18	45d	1	0.56mi
3110 Saint John St Unit B Greenville, TX	3.0	2.0	1273	$1,400	$1.10	25d	1	0.56mi
3110 Saint John St Unit A Greenville, TX	3.0	2.0	1273	$1,500	$1.18	45d	1	0.56mi
3110 Saint John St Unit B Greenville, TX	3.0	2.0	1273	$1,450	$1.14	45d	1	0.56mi
3110 Saint John St Unit A Greenville, TX	3.0	2.0	1273	$1,425	$1.12	45d	1	0.56mi
3912 Oneal St Greenville, TX	3.0	2.5	1592	$1,750	$1.10	45d	1	0.61mi
1311 Wright St Greenville, TX	3.0	2.5	1582	$1,750	$1.11	45d	1	0.62mi
2704 Jones St Greenville, TX	3.0	2.0	1273	$1,550	$1.22	4d	1	0.66mi
2305 Bourland St Greenville, TX	3.0	2.0	1320	$1,900	$1.44	45d	1	0.68mi
1519 Stonewall St Greenville, TX	3.0	2.0	1578	$1,750	$1.11	23d	1	0.70mi
2212 Church St Unit A Greenville, TX	3.0	2.0	1254	$1,595	$1.27	7d	1	0.73mi
3333 Dalton St Greenville, TX	3.0	2.0	1493	$1,635	$1.10	25d	1	0.73mi
3333 Dalton St Greenville, TX	3.0	2.0	1493	$1,635	$1.10	8d	1	0.73mi
3333 Dalton St Greenville, TX	3.0	2.0	1493	$1,635	$1.10	6d	1	0.73mi
4709 Henry St Greenville, TX	3.0	2.0	1299	$1,550	$1.19	8d	1	0.77mi
2006 Church St Greenville, TX	3.0	2.0	1463	$1,600	$1.09	45d	1	0.81mi
2018 Morse St Greenville, TX	4.0	2.0	1894	$2,200	$1.16	45d	1	0.84mi
2010 Morse St Greenville, TX	3.0	2.0	1248	$1,400	$1.12	23d	1	0.86mi
4811 Henry St Greenville, TX	3.0	2.0	1565	$1,800	$1.15	20d	1	0.88mi

Listing history 8 events

1. 2026-06-21
   days on market $185,000 Active 13 DOM
2. 2026-06-18
   days on market $185,000 Active 10 DOM
3. 2026-06-17
   days on market $185,000 Active 9 DOM
4. 2026-06-16
   days on market $185,000 Active 8 DOM
5. 2026-06-15
   days on market $185,000 Active 7 DOM
6. 2026-06-13
   days on market $185,000 Active 5 DOM
7. 2026-06-08
   remarks 659-char remark
8. 2026-06-08
   listed $185,000 Active 1 DOM

ⓘ 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: $4,064 · $339/mo
• Projected year-2 tax: $4,064 · $339/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 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥110°F today · 23 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $21,029
• − Mortgage interest: −$10,363
• − Property taxes: −$4,064
• − Insurance: −$925
• − Repairs & maintenance: −$1,682
• − Management: −$1,682
• − Depreciation: −$5,382
• Taxable loss: −$3,069
• Est. tax savings @ 24.0%: +$737
• After-tax cash flow: $719/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: 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): 22,669
• Household income: $59,908
• Rent vs Own: 44.8% rent · 55.2% own
• Severe rent burden: 638.0

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: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 51% Hispanic / Latino 32% Black 13% Two or more races 11%
• Hispanic origin (detail): Mexican 30%
• Common ancestry: Slovak 2% Lithuanian 1% Iranian 1%
• Foreign-born: 13% · Canada
• Languages at home: 75% English-only · Spanish 24%

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: ▼ -88.45%
• Current HPI: 339.0287
• Rent YoY: ▲ 0.62%
• 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

-9.8% since first listed

6 events — show timeline

• 2026-06-08 Listed $185,000 NTREIS
• 2026-03-02 Listing Removed — NTREIS
• 2025-12-13 Price Changed $199,999 NTREIS
• 2025-11-26 Price Changed $204,900 NTREIS
• 2025-09-30 Listed $205,000 NTREIS
• 2006-12-18 Sold (Public Records) — Public Records

Property tax history

+9.1%/yr

Latest (2025): $4,064 · +4.0% YoY. Source: county tax records.