435 West Coke · Gorman, TX 76454

$49,000

3 bd · 1.0 ba · 1,062 sqft · SingleFamily public records · 115 Days on market

Built 1950 8,059 sqft lot $46/sqft · 33% below area Est $73k · 33% under

---

Why this score? — see what drove the A- 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
• Appreciation +5.7/10.0
• Schools +3.1/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Amazing opportunity! This move in ready three bedroom home offers incredible potential. With just a little TLC, it could truly shine. Whether you're searching for your next investment property or a place to make your own, look no further this one checks the boxes for value and possibility.

Key facts

• 8,059 sq ft lot
• 2 parking spots
• Built 1950

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $49k.

Deal economics

• At list price, monthly cash flow is $492 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $49k).
• Recommended offer: $45k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#906 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: health & safety D+, schools D-, amenities F.
• Gorman ISD (rural): math 35% / reading 35% proficiency, ranked #928 of 1,141 in TX (top 81%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 23 active listings in the ZIP; 10 units permitted in Eastland County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $1k of equity ($339 loan paydown + $712 appreciation (1.4% local appreciation)).
• Eastland County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.4% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 115 days — a 9% lower offer ($45k) 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, 27% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 6→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $44,590 (9.0% below list)

Questions for the listing agent

1. It's been on market 115 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — 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: 2.15% ✓
• Cap rate: 18.35%
• Cash-on-cash: 43.07%
• DSCR: 2.92
• GRM: 3.9

CMA / ARV

• ARV (median comp): $73,218
• List price: $49,000
• Delta: -33.08%
• Verdict: UNDERPRICED
• Comps: 8 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
207 S Winkler St	0.08mi	2/1.0 (-1)	1,064 (+0%)	18mo	$60,000	$56	76
407 N Kent St	0.45mi	2/1.0 (-1)	1,152 (+8%)	5mo	$104,500	$91	56

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

1.45% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 46.3%
• Equity multiple: 3.43×
• Total profit: $33,392
• Equity at exit: $17,893

10-year hold

• IRR: 47.6%
• Equity multiple: 6.84×
• Total profit: $80,105
• Equity at exit: $24,707

Cash invested: $13,720 (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 76454

• Home prices YoY: 1.7%
• Active inventory: 23
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $1,052 medium
• Mortgage (P&I): −$257
• Tax from tax record: −$62 /mo · $740/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$221
• Net cashflow: $492

Break-even live

Break-even rent $429

Max offer price $49,000

Occupancy floor 48%

Sensitivity live

Price	-10% $520	-5% $506	+0% $492	+5% $479	+10% $465
Rent	-10% $409	-5% $451	+0% $492	+5% $534	+10% $576
Rate	-1.0pp $517	-0.5pp $505	base $492	+0.5pp $480	+1.0pp $467

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: $12,250
• Closing costs: $1,470
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $49,000 Active 115 DOM
2. 2026-06-18
   days on market $49,000 Active 113 DOM
3. 2026-06-17
   days on market $49,000 Active 112 DOM
4. 2026-06-16
   days on market $49,000 Active 111 DOM
5. 2026-06-15
   days on market $49,000 Active 110 DOM
6. 2026-06-13
   days on market $49,000 Active 108 DOM
7. 2026-06-12
   days on market $49,000 Active 107 DOM
8. 2026-06-09
   days on market $49,000 Active 104 DOM
9. 2026-06-08
   days on market $49,000 Active 103 DOM
10. 2026-06-08
    days on market $49,000 Active 102 DOM
11. 2026-06-05
    days on market $49,000 Active 100 DOM
12. 2026-06-03
    days on market $49,000 Active 98 DOM
13. 2026-06-02
    days on market $49,000 Active 97 DOM
14. 2026-06-01
    days on market $49,000 Active 96 DOM
15. 2026-05-31
    days on market $49,000 Active 95 DOM
16. 2026-02-25
    listed $49,000 Active 291-char remark

    Show marketing remark (291 chars)

    Amazing opportunity! This move in ready three bedroom home offers incredible potential. With just a little TLC, it could truly shine. Whether you're searching for your next investment property or a place to make your own, look no further this one checks the boxes for value and possibility.

17. 2012-11-30
    soldstatus
18. 2009-07-14
    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: $740 · $62/mo
• Projected year-2 tax: $897 · $75/mo
• Expected delta: +$157/yr (+$13/mo · 21.3%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 7/10 Severe 6 d/yr ≥106°F today · 18 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,630
• − Mortgage interest: −$2,745
• − Property taxes: −$740
• − Insurance: −$245
• − Repairs & maintenance: −$1,010
• − Management: −$1,010
• − Depreciation: −$1,425
• Taxable income: $5,454
• Est. tax owed @ 24.0%: −$1,309
• After-tax cash flow: $4,600/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: Gorman ISD
• NCES district ID: 4821270
• Math proficiency: 35% ▬ 0.00%
• Reading proficiency: 35% ▬ 0.00%
• Median HH income: $33,767
• Composite: 31.43/100
• National rank: #11200
• State rank: #928 of 1141 in TX

Livability — Gorman

• Score: 62/100
• State rank: #906
• US rank: #16249

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gorman, TX
• Population (ZIP): 1,396

Population outlook (Eastland County) Hauer SSP2

• Today (2025): 17,433 people
• By 2030: 16,908 · -3.0%
• By 2040: 15,855 · -9.1%
• By 2050: 14,906 · -14.5%
• By 2075: 12,843 · -26.3%
• By 2100: 10,344 · -40.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Hispanic / Latino 22% Two or more races 18% Black 3%
• Hispanic origin (detail): Mexican 21%
• Common ancestry: Italian 17% Slovak 4% Serbian 2%
• Foreign-born: 7% · Canada
• Languages at home: 81% English-only · Spanish 19%

Political lean MEDSL · Eastland

• 2024 margin: Solid R (+77.5) · D 11.0% · R 88.5%
• 2008→2024 swing: -17.6pp toward R · 2008: -59.8pp · 2024: -77.5pp
• All cycles: 2024: R+77.5 2020: R+75.4 2016: R+75.4 2012: R+68.9 2008: R+59.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.45%
• Current HPI: 85.4066
• 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

3 events — show timeline

• 2026-02-25 Listed $49,000 NTREIS
• 2012-11-30 Sold (Public Records) — Public Records
• 2009-07-14 Sold (Public Records) — Public Records

Property tax history

+3.3%/yr

Latest (2025): $740 · -1.2% YoY. Source: county tax records.