405 N Rodeo Dr · Gladewater, TX 75646

$140,000

3 bd · 1.0 ba · 1,218 sqft · SingleFamily · 15 Days on market

Built 1930 Good condition 0.34 ac lot

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Why this score? — see what drove the C 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 +20.2/30.0
• ARV discount +7.5/15.0
• DSCR +6.4/10.0
• 1% rule +5.3/10.0
• Appreciation +5.0/10.0
• Condition / age +3.8/5.0
• Livability +3.2/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0

Listing remarks

Step into the charm of yesterday with the updates of today! This beautifully renovated 1930s home is ideally located directly across from the iconic Gladewater Rodeo Arena, placing you in the heart of one of East Texas’ most beloved communities. Featuring 3 bedrooms, 1 bathroom, and situated on a generous . 34-acre lot, this home offers a blend of character, convenience, and value. Inside, you’ll find thoughtful updates while preserving the timeless appeal that makes older homes so special. The spacious lot provides plenty of room for outdoor entertaining, gardening, or future improvements. Whether you’re a first-time homebuyer looking for the perfect starter home, someone

Key facts

• Outdoor entertaining
• Renovated 1930s home
• 0.34 acre lot

Tags

• RENOVATED 1930S HOME
• GENEROUS .34-ACRE LOT
• OUTDOOR ENTERTAINING
• PIECE OF GLADEWATER HISTORY

Property features AI

Exterior

• Parking: Attached concrete garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One level
• Construction: Aluminum and vinyl siding; Composition roof; Pillar/post/pier foundation; Built as residential single family
• Exterior features: Partial chain link fencing; No pool; No other detached structures

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Electric water heater; 6 total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $140k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $176 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $140k).
• Recommended offer: $138k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.8% vs local median 4.9% 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: 2 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 34 units permitted in Upshur County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($968 loan paydown + $4k appreciation (3.0% local appreciation)).
• Upshur County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($138k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $137,900 (1.5% below list)

Questions for the listing agent

1. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.03% ✓
• Cap rate: 7.80%
• Cash-on-cash: 5.40%
• DSCR: 1.24
• GRM: 8.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 12.5%
• Equity multiple: 1.72×
• Total profit: $28,119
• Equity at exit: $62,950

10-year hold

• IRR: 14.6%
• Equity multiple: 3.15×
• Total profit: $84,412
• Equity at exit: $97,014

Cash invested: $39,200 (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 75646

• Active inventory: 2
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,448 medium
• Mortgage (P&I): −$734
• Tax est. 1.5%: −$175 /mo · $2,100/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$304
• Net cashflow: $176

Break-even live

Break-even rent $1,225

Max offer price $140,000

Occupancy floor 83%

Sensitivity live

Price	-10% $273	-5% $225	+0% $176	+5% $128	+10% $80
Rent	-10% $62	-5% $119	+0% $176	+5% $234	+10% $291
Rate	-1.0pp $247	-0.5pp $212	base $176	+0.5pp $140	+1.0pp $103

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
519 North St Unit 521 Gladewater, TX	2.0	1.0	865	$1,200	$1.39	44d	1	0.28mi
502 Jeanette Ave Gladewater, TX	3.0	2.0	1385	$1,950	$1.41	14d	1	1.36mi
109 Lyle St Gladewater, TX	3.0	2.0	1385	$1,950	$1.41	14d	1	1.47mi

Listing history 4 events

1. 2026-06-19
   days on market $140,000 Active 15 DOM
2. 2026-06-18
   days on market $140,000 Active 14 DOM
3. 2026-06-17
   remarks 681-char remark
4. 2026-06-17
   listed $140,000 Active 13 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $17,375
• − Mortgage interest: −$7,842
• − Property taxes: −$2,100
• − Insurance: −$700
• − Repairs & maintenance: −$1,390
• − Management: −$1,390
• − Depreciation: −$4,073
• Taxable loss: −$120
• Est. tax savings @ 24.0%: +$29
• After-tax cash flow: $2,145/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

This beautifully renovated 1930s home offers a blend of character and modern updates, making it an ideal starter home or investment property. The location across from the Gladewater Rodeo Arena adds to its charm and community appeal.

Value-add opportunities

• Both Painting exterior and interior walls — Enhances curb appeal and interior aesthetics.
• Both Landscaping and curb appeal improvements — Enhances curb appeal and property value.
• Resale Upgrading kitchen appliances — Modernizes kitchen and appeals to potential buyers.
• Resale Upgrading bathroom fixtures — Modernizes bathroom and appeals to potential buyers.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior walls — Enhances curb appeal and interior aesthetics. ↑
• Both Landscaping and curb appeal improvements — Enhances curb appeal and property value. ↑
• Resale Upgrading kitchen appliances — Modernizes kitchen and appeals to potential buyers. ↑
• Resale Upgrading bathroom fixtures — Modernizes bathroom and appeals to potential buyers. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 outlook (Upshur County) Hauer SSP2

• Today (2025): 42,771 people
• By 2030: 43,788 · +2.4%
• By 2040: 45,574 · +6.6%
• By 2050: 46,683 · +9.1%
• By 2075: 49,137 · +14.9%
• By 2100: 47,457 · +11.0%

Not yet ingested

• Political lean: —
• Race & ethnicity: —
• Common origin: —
• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

1 event — show timeline

• 2026-06-04 Listed $140,000 LAAR