924 N Clements St · Gainesville, TX 76240

$94,900

2 bd · 2.0 ba · 968 sqft · SingleFamily public records · 130 Days on market

Built 1940 6,839 sqft lot $98/sqft · 40% below area Est $157k · 40% under ↓ 13% 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.3/10.0
• 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

Charming home on a corner lot, conveniently located near all the activities in Gainesville, Texas. This spacious, updated property features a beautiful kitchen and is definitely worth a look today. This property has been placed in an auction event. Please submit all non-auction offers MLS offers through propoffers.com or feel free to bid on the Realtybid website. .All information should be verified by the buyer.

Key facts

• 6,839 sq ft lot
• Built 1940
• Listed 129 days

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $378 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Recommended offer: $84k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.1% 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: schools F, amenities F, commute 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.
• 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 $656 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 ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 130 days — a 12% lower offer ($84k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1940 — 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 $83,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 130 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 1940 — 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 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?
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: 1.43% ✓
• Cap rate: 11.07%
• Cash-on-cash: 17.08%
• DSCR: 1.76
• GRM: 5.8

CMA / ARV

• ARV (median comp): $157,228
• List price: $94,900
• Delta: -39.64%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
912 N Clements St	0.01mi	2/1.5	960 (-1%)	8mo	$198,000	$206	90
827 N Morris St	0.18mi	2/1.0	924 (-4%)	9mo	$129,500	$140	72
724 N Taylor	0.27mi	2/1.0	997 (+3%)	15mo	$159,500	$160	66
1201 N Taylor St	0.34mi	3/2.0 (+1)	1,058 (+9%)	0mo	$219,900	$208	63
610 Ritchey St	0.33mi	3/1.0 (+1)	1,008 (+4%)	14mo	$190,000	$188	57
831 Lawrence St	0.31mi	2/2.0	1,090 (+13%)	9mo	$185,000	$170	57
1420 Olive St	0.13mi	2/1.0	832 (-14%)	14mo	$150,000	$180	55
1108 Whaley Dr	0.26mi	2/1.0	1,056 (+9%)	19mo	$168,500	$160	53
804 Ritchey St	0.16mi	1/— (-1)	1,100 (+14%)	20mo	$145,000	$132	48
318 Cunningham St	0.57mi	2/1.0	884 (-9%)	9mo	$140,000	$158	47
1207 Whaley Dr	0.34mi	2/1.0	1,077 (+11%)	23mo	$135,000	$125	42
605 N Denton St	0.70mi	2/1.0	949 (-2%)	21mo	$149,900	$158	42

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: 8.4%
• Equity multiple: 1.33×
• Total profit: $8,752
• Equity at exit: $14,150

10-year hold

• IRR: 17.7%
• Equity multiple: 2.46×
• Total profit: $38,819
• Equity at exit: $8,205

Cash invested: $26,572 (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: 5.8×

Monthly cashflow live

• Estimated rent: $1,361 medium
• Mortgage (P&I): −$498
• Tax from tax record: −$160 /mo · $1,916/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$286
• Net cashflow: $378

Break-even live

Break-even rent $882

Max offer price $94,900

Occupancy floor 67%

Sensitivity live

Price	-10% $432	-5% $405	+0% $378	+5% $351	+10% $324
Rent	-10% $271	-5% $324	+0% $378	+5% $432	+10% $486
Rate	-1.0pp $426	-0.5pp $402	base $378	+0.5pp $354	+1.0pp $329

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: $23,725
• Closing costs: $2,847
• 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	44d	1	0.26mi

Listing history 23 events

1. 2026-06-19
   days on market $94,900 Active 130 DOM
2. 2026-06-18
   days on market $94,900 Active 129 DOM
3. 2026-06-17
   days on market $94,900 Active 128 DOM
4. 2026-06-16
   days on market $94,900 Active 127 DOM
5. 2026-06-15
   days on market $94,900 Active 126 DOM
6. 2026-06-14
   days on market $94,900 Active 124 DOM
7. 2026-06-12
   days on market $94,900 Active 123 DOM
8. 2026-06-09
   pricedays on market $94,900 Active 120 DOM
9. 2026-06-08
   days on market $99,900 Active 119 DOM
10. 2026-06-07
    days on market $99,900 Active 118 DOM
11. 2026-06-05
    days on market $99,900 Active 115 DOM
12. 2026-06-03
    days on market $99,900 Active 114 DOM
13. 2026-06-02
    days on market $99,900 Active 113 DOM
14. 2026-06-01
    days on market $99,900 Active 112 DOM
15. 2026-05-31
    days on market $99,900 Active 111 DOM
16. 2026-05-30
    days on market $99,900 Active 110 DOM
17. 2026-05-11
    price $99,900 417-char remark

    Show marketing remark (417 chars)

    Charming home on a corner lot, conveniently located near all the activities in Gainesville, Texas. This spacious, updated property features a beautiful kitchen and is definitely worth a look today. This property has been placed in an auction event. Please submit all non-auction offers MLS offers through propoffers.com or feel free to bid on the Realtybid website. .All information should be verified by the buyer.

18. 2026-04-10
    price $104,900 417-char remark

    Show marketing remark (417 chars)

    Charming home on a corner lot, conveniently located near all the activities in Gainesville, Texas. This spacious, updated property features a beautiful kitchen and is definitely worth a look today. This property has been placed in an auction event. Please submit all non-auction offers MLS offers through propoffers.com or feel free to bid on the Realtybid website. .All information should be verified by the buyer.

19. 2026-03-11
    price $109,900 417-char remark

    Show marketing remark (417 chars)

    Charming home on a corner lot, conveniently located near all the activities in Gainesville, Texas. This spacious, updated property features a beautiful kitchen and is definitely worth a look today. This property has been placed in an auction event. Please submit all non-auction offers MLS offers through propoffers.com or feel free to bid on the Realtybid website. .All information should be verified by the buyer.

20. 2026-02-09
    listed $115,000 Active 417-char remark

    Show marketing remark (417 chars)

    Charming home on a corner lot, conveniently located near all the activities in Gainesville, Texas. This spacious, updated property features a beautiful kitchen and is definitely worth a look today. This property has been placed in an auction event. Please submit all non-auction offers MLS offers through propoffers.com or feel free to bid on the Realtybid website. .All information should be verified by the buyer.

21. 2024-09-26
    soldstatus
22. 2023-07-24
    soldstatus
23. 2022-09-20
    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: $1,916 · $160/mo
• Projected year-2 tax: $1,916 · $160/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: $16,330
• − Mortgage interest: −$5,316
• − Property taxes: −$1,916
• − Insurance: −$474
• − Repairs & maintenance: −$1,306
• − Management: −$1,306
• − Depreciation: −$2,761
• Taxable income: $3,250
• Est. tax owed @ 24.0%: −$780
• After-tax cash flow: $3,758/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

-13.1% since first listed

7 events — show timeline

• 2026-05-11 Price Changed $99,900 NTREIS
• 2026-04-10 Price Changed $104,900 NTREIS
• 2026-03-11 Price Changed $109,900 NTREIS
• 2026-02-09 Listed $115,000 NTREIS
• 2024-09-26 Sold (Public Records) — Public Records
• 2023-07-24 Sold (Public Records) — Public Records
• 2022-09-20 Sold (Public Records) — Public Records

Property tax history

+6.8%/yr

Latest (2025): $1,916 · +10.4% YoY. Source: county tax records.