707 Ritchey St · Gainesville, TX 76240

$100,000

2 bd · 2.0 ba · 890 sqft · SingleFamily public records · 32 Days on market

Built 1945 6,011 sqft lot Est $160k · 38% under ↓ 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 +27.2/30.0
• ARV discount +15.0/15.0
• DSCR +9.5/10.0
• 1% rule +8.3/10.0
• Livability +3.3/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

HOT NEW LISTING! Perfect Home To Call Your Own, Adorable, Charming and Move In Ready! Recent Updates Throughout, Beautiful Kitchen, Spacious rooms, Hardwood & Laminate Flooring, Eat in Kitchen, Covered Porch, Large Fenced Yard, Full Size Laundry Room and So Much More. Such a Wonderful Home For a Great Price!!!

Key facts

• Covered porch
• Beautiful kitchen
• New hvac

Tags

• NEW HVAC
• BEAUTIFUL KITCHEN
• COVERED PORCH
• LARGE FENCED YARD
• FULL SIZE LAUNDRY ROOM

Property features AI

Finance

• Other: Property classified as residential, single-family residence; Lot is less than 0.5 acre
• Financial info: Listing terms include cash and conventional financing; No second mortgage listed
• HOA & community: No homeowners association

Exterior

• Parking: 2 covered parking spaces; 2-car garage; Asphalt parking surface
• Utilities: City water; City sewer; Electricity available; Natural gas available; Overhead utilities; Curbs
• Home design: Single-family residence; Attached property; Built in 1945; One story
• Construction: Wood construction; Asphalt/composition roof; Pillar/post/pier foundation
• Exterior features: Chain link fencing; Brush and grassed vegetation; Easement for electric

Interior

• Kitchen: Electric cooktop; Electric oven
• Bedrooms: 2 bedrooms (both on the main level)
• Flooring: Laminate flooring; Wood flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (natural gas); Central air conditioning; Ceiling fans; Electric cooling components
• Interior features: Cable TV available; Six total rooms; One living area; One level (single-story)
• Laundry & utility: Utility room with built-in cabinets (on the main level)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $286 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $97k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.7% vs local median 3.7% in Gainesville — 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 66/100 on livability (#602 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: amenities F, commute F, employment F.
• Gainesville ISD (rural): math 33% / reading 29% proficiency, ranked #606 of 826 in TX (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: W E Chalmers El (math 28% / reading 24%, grade F, #2,954 of 4,322 statewide, top 69%, 716 students, 67% FRL) — zoned schools at 67% FRL track the district average.
• Market conditions: 462 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 190 units permitted in Cooke County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 32 days — a 3% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y 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 1945 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $97,000 (3.0% below list)

Questions for the listing agent

1. It's been on market 32 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1945 — 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 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?
5. 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.
6. 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.
7. 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: 1.33% ✓
• Cap rate: 9.73%
• Cash-on-cash: 12.27%
• DSCR: 1.55
• GRM: 6.3

CMA / ARV

• ARV (on-the-fly): $160,200
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
318 Cunningham St	0.33mi	2/1.0	884 (-1%)	9mo	$140,000	$158	72
827 N Morris St	0.24mi	2/1.0	924 (+4%)	9mo	$129,500	$140	71
912 N Clements St	0.23mi	2/1.5	960 (+8%)	8mo	$198,000	$206	68
1420 Olive St	0.19mi	2/1.0	832 (-6%)	14mo	$150,000	$180	65
610 Ritchey St	0.08mi	3/1.0 (+1)	1,008 (+13%)	14mo	$190,000	$188	53
724 N Taylor	0.25mi	2/1.0	997 (+12%)	15mo	$159,500	$160	52
420 Cunningham	0.21mi	2/1.0	768 (-14%)	16mo	$174,900	$228	50
605 N Denton St	0.66mi	2/1.0	949 (+7%)	21mo	$149,900	$158	36

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: 2.0%
• Equity multiple: 1.08×
• Total profit: $2,103
• Equity at exit: $14,910

10-year hold

• IRR: 11.6%
• Equity multiple: 1.91×
• Total profit: $25,588
• Equity at exit: $8,646

Cash invested: $28,000 (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 76240

• Active inventory: 462
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,332 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$200 /mo · $2,395/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$280
• Net cashflow: $286

Break-even live

Break-even rent $969

Max offer price $100,000

Occupancy floor 73%

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1610 Elizabeth St Gainesville, TX	3.0	1.0	1100	$1,500	$1.36	43d	1	0.18mi

Listing history 14 events

1. 2026-05-01
   soldstatus
2. 2026-04-17
   status Pending
3. 2026-04-09
   historical Active Contingent
4. 2026-03-15
   listed $100,000 Active
5. 2025-10-24
   historical
6. 2025-09-04
   price $110,000
7. 2025-05-23
   listed $120,000 Active
8. 2022-06-27
   soldstatus
9. 2022-06-24
   soldstatus Closed 316-char remark

   Show marketing remark (316 chars)

   HOT NEW LISTING! Perfect Home To Call Your Own, Adorable, Charming and Move In Ready! Recent Updates Throughout, Beautiful Kitchen, Spacious rooms, Hardwood & Laminate Flooring, Eat in Kitchen, Covered Porch, Large Fenced Yard, Full Size Laundry Room and So Much More. Such a Wonderful Home For a Great Price!!!

10. 2022-06-06
    status Pending 316-char remark

    Show marketing remark (316 chars)

    HOT NEW LISTING! Perfect Home To Call Your Own, Adorable, Charming and Move In Ready! Recent Updates Throughout, Beautiful Kitchen, Spacious rooms, Hardwood & Laminate Flooring, Eat in Kitchen, Covered Porch, Large Fenced Yard, Full Size Laundry Room and So Much More. Such a Wonderful Home For a Great Price!!!

11. 2022-05-19
    listed $119,950 Active 316-char remark

    Show marketing remark (316 chars)

    HOT NEW LISTING! Perfect Home To Call Your Own, Adorable, Charming and Move In Ready! Recent Updates Throughout, Beautiful Kitchen, Spacious rooms, Hardwood & Laminate Flooring, Eat in Kitchen, Covered Porch, Large Fenced Yard, Full Size Laundry Room and So Much More. Such a Wonderful Home For a Great Price!!!

12. 2016-03-09
    soldstatus
13. 2008-01-02
    soldstatus
14. 2002-03-15
    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: $2,395 · $200/mo
• Projected year-2 tax: $2,395 · $200/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 7/10 Severe
• 🌡 Heat 6/10 Major 7 d/yr ≥110°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 17% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,981
• − Mortgage interest: −$5,602
• − Property taxes: −$2,395
• − Insurance: −$500
• − Repairs & maintenance: −$1,278
• − Management: −$1,278
• − Depreciation: −$2,909
• Taxable income: $2,018
• Est. tax owed @ 24.0%: −$484
• After-tax cash flow: $2,953/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: Gainesville ISD
• NCES district ID: 4820220
• Math proficiency: 33% ▼ -9.00%
• Reading proficiency: 29% ▼ -2.00%
• Median HH income: $41,772
• Composite: 26.27/100
• National rank: #7252
• State rank: #606 of 826 in TX

Livability — Gainesville

• Score: 66/100
• State rank: #602
• US rank: #11445

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gainesville, TX
• County: Cooke County · 29,419 people
• City population: 29,419
• Metro: Gainesville, TX
• Population (ZIP): 29,419
• Household income: $71,502
• Rent vs Own: 32.6% rent · 67.4% own
• Severe rent burden: 660.0

Population outlook (Cooke County) Hauer SSP2

• Today (2025): 39,965 people
• By 2030: 39,974 · +0.0%
• By 2040: 39,772 · -0.5%
• By 2050: 39,258 · -1.8%
• By 2075: 37,262 · -6.8%
• By 2100: 33,363 · -16.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (66%)
• Race & ethnicity: White 66% Hispanic / Latino 24% Two or more races 14% Black 5%
• Hispanic origin (detail): Mexican 21%
• Common ancestry: Serbian 2% Lithuanian 2% Slovak 1%
• Foreign-born: 8% · Canada
• Languages at home: 83% English-only · Spanish 16% Other Indo-European 1%

Political lean MEDSL · Cooke

• 2024 margin: Solid R (+66.9) · D 16.2% · R 83.1%
• 2008→2024 swing: -8.2pp toward R · 2008: -58.7pp · 2024: -66.9pp
• All cycles: 2024: R+66.9 2020: R+65.2 2016: R+68.1 2012: R+67.6 2008: R+58.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -198.63%
• Current HPI: 247.3822
• Rent YoY: —
• Metro: Gainesville, 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

-16.6% since first listed

14 events — show timeline

• 2026-05-01 Sold (Public Records) — Public Records
• 2026-04-17 Pending — NTREIS
• 2026-04-09 Contingent — NTREIS
• 2026-03-15 Listed $100,000 NTREIS
• 2025-10-24 Listing Removed — NTREIS
• 2025-09-04 Price Changed $110,000 NTREIS
• 2025-05-23 Listed $120,000 NTREIS
• 2022-06-27 Sold (Public Records) — Public Records
• 2022-06-24 Sold (MLS) — NTREIS
• 2022-06-06 Pending — NTREIS
• 2022-05-19 Listed $119,950 NTREIS
• 2016-03-09 Sold (Public Records) — Public Records
• 2008-01-02 Sold (Public Records) — Public Records
• 2002-03-15 Sold (Public Records) — Public Records

Property tax history

+9.7%/yr

Latest (2025): $2,395 · +10.4% YoY. Source: county tax records.