209 Dr Mlk Jr Dr · Gladewater, TX 75647

$96,000

3 bd · 1.0 ba · 1,022 sqft · SingleFamily public records · 209 Days on market

Built 1935 5,663 sqft lot $94/sqft · 26% below area Est $130k · 26% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.2/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

1022 sqft, 3-bedroom, 1-bath, cottage-style home is within walking distance of Gladewater schools and Gladewater's lively downtown Antique District. . The home features a charming front porch on a well shaded lot. With abounding potential, future investors and first-time homeowners should move quickly!

Key facts

• Charming front porch
• Replaced ac unit
• Replaced roof

Tags

• UPDATED BATHROOM
• UPDATED KITCHEN
• REPLACED ROOF
• REPLACED AC UNIT
• CHARMING FRONT PORCH
• WELL SHADED LOT

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $96k.

Deal economics

• At list price, monthly cash flow is $831 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $96k).
• Recommended offer: $84k (12.0% below list) — sets the bar for market timing.
• Cap rate 16.7% vs local median 5.0% in Gladewater — 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 (#805 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: crime C-, schools D+, amenities F.
• Gladewater ISD (suburban): math 29% / reading 34% proficiency, ranked #594 of 826 in TX (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 178 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 193 units permitted in Gregg County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $664 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 $27k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 209 days — a 12% lower offer ($84k) 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 1935 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 58% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $84,480 (12.0% below list)

Questions for the listing agent

1. It's been on market 209 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1935 — 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: 2.03% ✓
• Cap rate: 16.68%
• Cash-on-cash: 37.11%
• DSCR: 2.65
• GRM: 4.1

CMA / ARV

• ARV (median comp): $130,000
• List price: $96,000
• Delta: -26.15%
• Verdict: UNDERPRICED
• Comps: 5 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
407 W Sunset Ave	0.35mi	3/2.0	1,056 (+3%)	13mo	$135,000	$128	63

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: 33.0%
• Equity multiple: 2.39×
• Total profit: $37,450
• Equity at exit: $14,314

10-year hold

• IRR: 40.0%
• Equity multiple: 4.76×
• Total profit: $101,025
• Equity at exit: $8,300

Cash invested: $26,880 (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 75647

• Home prices YoY: -8.2%
• Active inventory: 178
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $1,950 medium
• Mortgage (P&I): −$503
• Tax from tax record: −$166 /mo · $1,989/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$410
• Net cashflow: $831

Break-even live

Break-even rent $898

Max offer price $96,000

Occupancy floor 52%

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: $24,000
• Closing costs: $2,880
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
502 Jeanette Ave Gladewater, TX	3.0	2.0	1385	$1,950	$1.41	13d	1	0.98mi
109 Lyle St Gladewater, TX	3.0	2.0	1385	$1,950	$1.41	13d	1	0.98mi

Listing history 14 events

1. 2026-06-07
   statusdays on market $96,000 Pending 209 DOM
2. 2026-06-03
   days on market $96,000 Active 207 DOM
3. 2026-06-02
   days on market $96,000 Active 206 DOM
4. 2026-06-01
   days on market $96,000 Active 205 DOM
5. 2026-05-31
   days on market $96,000 Active 204 DOM
6. 2026-05-30
   days on market $96,000 Active 203 DOM
7. 2025-11-01
   listed $96,000 Active 304-char remark

   Show marketing remark (304 chars)

   1022 sqft, 3-bedroom, 1-bath, cottage-style home is within walking distance of Gladewater schools and Gladewater's lively downtown Antique District. . The home features a charming front porch on a well shaded lot. With abounding potential, future investors and first-time homeowners should move quickly!

8. 2022-09-28
   soldstatus
9. 2022-09-27
   soldstatus 534-char remark

   Show marketing remark (534 chars)

   Built-in 1935, this refreshed 1022 sqft, 3-bedroom, 1-bath, cottage-style home is within walking distance of Gladewater schools and just a stone's throw from Gladewater's lively downtown Antique District. As an income-producing property with tenants, the home underwent renovation with an updated bathroom and kitchen and a replaced roof and AC unit. In addition, the home features a charming front porch with mature trees on a well shaded lot. With abounding potential, future investors and first-time homeowners should move quickly!

10. 2022-09-27
    soldstatus

    Show marketing remark (534 chars)

    Built-in 1935, this refreshed 1022 sqft, 3-bedroom, 1-bath, cottage-style home is within walking distance of Gladewater schools and just a stone's throw from Gladewater's lively downtown Antique District. As an income-producing property with tenants, the home underwent renovation with an updated bathroom and kitchen and a replaced roof and AC unit. In addition, the home features a charming front porch with mature trees on a well shaded lot. With abounding potential, future investors and first-time homeowners should move quickly!

11. 2022-08-09
    listed $92,000
12. 2022-08-02
    listed $92,000 534-char remark

    Show marketing remark (534 chars)

    Built-in 1935, this refreshed 1022 sqft, 3-bedroom, 1-bath, cottage-style home is within walking distance of Gladewater schools and just a stone's throw from Gladewater's lively downtown Antique District. As an income-producing property with tenants, the home underwent renovation with an updated bathroom and kitchen and a replaced roof and AC unit. In addition, the home features a charming front porch with mature trees on a well shaded lot. With abounding potential, future investors and first-time homeowners should move quickly!

13. 2020-09-11
    soldstatus
14. 2011-07-06
    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: $1,989 · $166/mo
• Projected year-2 tax: $1,989 · $166/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 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥110°F today · 25 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 58% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,400
• − Mortgage interest: −$5,377
• − Property taxes: −$1,989
• − Insurance: −$480
• − Repairs & maintenance: −$1,872
• − Management: −$1,872
• − Depreciation: −$2,793
• Taxable income: $9,017
• Est. tax owed @ 24.0%: −$2,164
• After-tax cash flow: $7,812/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: Gladewater ISD
• NCES district ID: 4820760
• Math proficiency: 29% ▼ -12.00%
• Reading proficiency: 34% ▼ -1.00%
• Median HH income: $41,485
• Composite: 26.62/100
• National rank: #7177
• State rank: #594 of 826 in TX

Livability — Gladewater

• Score: 64/100
• State rank: #805
• US rank: #14670

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gladewater, TX
• Population (ZIP): 13,457

Population outlook (Gregg County) Hauer SSP2

• Today (2025): 125,947 people
• By 2030: 126,542 · +0.5%
• By 2040: 127,311 · +1.1%
• By 2050: 127,289 · +1.1%
• By 2075: 124,954 · -0.8%
• By 2100: 113,737 · -9.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Black 12% Hispanic / Latino 9% Two or more races 8%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Serbian 3% Slovak 2% Italian 2%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 4%

Political lean MEDSL · Gregg

• 2024 margin: Solid R (+42.2) · D 28.5% · R 70.7%
• 2008→2024 swing: -4.6pp toward R · 2008: -37.6pp · 2024: -42.2pp
• All cycles: 2024: R+42.2 2020: R+36.9 2016: R+41.3 2012: R+39.5 2008: R+37.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -27.12%
• Current HPI: 303.1316
• 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

+4.3% since first listed

8 events — show timeline

• 2025-11-01 Listed $96,000 LAAR
• 2022-09-28 Sold (Public Records) — Public Records
• 2022-09-27 Sold (MLS) — GTAR
• 2022-09-27 Sold (MLS) — LAAR
• 2022-08-09 Listed $92,000 GTAR
• 2022-08-02 Listed $92,000 LAAR
• 2020-09-11 Sold (Public Records) — Public Records
• 2011-07-06 Sold (Public Records) — Public Records

Property tax history

+22.0%/yr

Latest (2025): $1,989 · +5.4% YoY. Source: county tax records.