501 N Spring St · Grand Saline, TX 75140

$115,000

4 bd · 2.0 ba · 2,542 sqft · SingleFamily public records · 9 Days on market

Built 1912 0.80 ac lot Est $208k · 45% under ↓ 28% 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 +27.1/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +9.4/10.0
• Appreciation +6.3/10.0
• Livability +3.2/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Full of Character & Potential – Vintage 1912 Craftsman on Expansive Lot Step back in time with this charming 1912 Craftsman-style home, brimming with timeless character and endless possibilities. If you’ve been searching for a unique fixer-upper with room to grow both inside and out this rare gem is one you won’t want to miss. From the intricate trim, windows, and doors, the craftsmanship throughout this home is truly remarkable. Rich wooden walls add rustic warmth and vintage appeal, making this property a dream for lovers of old-world charm. Situated on a spacious 0.80-acre lot, the property also features a metal carport in the backyard for added convenience. to add there is an additional 0.32-acre lot directly across O’Hara Street included in the sale. Step back in time with this charming 1912 Craftsman-style home, brimming with timeless character and endless possibilities. If you’ve been searching for a unique fixer-upper in a quaint community with room to grow—both inside and out—this rare gem is one you won’t want to miss. Situated on a spacious 0.80-acre lot, the property also features a metal carport in the backyard for added convenience. The sizeable yard offers opportunity for gardening, outdoor activities, and there is a 0.32-acre lot directly across O’Hara Street included in the sale. Whether you’re envisioning a full restoration or looking to preserve its historic beauty while adding your own touch, this home offers a rare opportunity to bring your vision to life. Properties with this much character and potential don’t come around often.

Key facts

• Expansive lot
• Additional lot
• Sizeable yard

Tags

• VINTAGE CRAFTSMAN
• EXPANSIVE LOT
• SIZEABLE YARD
• ADDITIONAL LOT

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $327 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Cap rate 9.7% vs local median 2.9% in Grand Saline — 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 (#800 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: amenities F, commute F, employment F.
• Grand Saline ISD (town): math 38% / reading 33% proficiency, ranked #520 of 826 in TX (top 63%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Grand Saline El (308 students, 68% FRL) — zoned schools average 68% FRL vs 50% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 147 active listings in the ZIP; 54 units permitted in Van Zandt County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($795 loan paydown + $3k appreciation (2.7% local appreciation)).
• Van Zandt County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (2.7% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 sale attempts since 3y 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: property tax is 4.0% of price; built in 1912 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% 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 $115,000

Questions for the listing agent

1. Built in 1912 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.50% ✓
• Cap rate: 9.71%
• Cash-on-cash: 12.19%
• DSCR: 1.54
• GRM: 5.6

CMA / ARV

• ARV (on-the-fly): $208,444
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
501 N Spring St	0.00mi	4/2.0	2,542 (0%)	1mo	$115,000	$45	99
615 N Washington St	0.36mi	3/2.0 (-1)	2,192 (-14%)	15mo	$265,000	$121	43
681 E High St	0.57mi	4/2.0	2,184 (-14%)	16mo	$149,900	$69	37
911 W Wolfe St	0.53mi	3/2.5 (-1)	2,276 (-10%)	23mo	$186,900	$82	31

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

Projected returns pro-forma

2.69% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 18.3%
• Equity multiple: 2.02×
• Total profit: $33,000
• Equity at exit: $49,724

10-year hold

• IRR: 20.0%
• Equity multiple: 3.82×
• Total profit: $90,877
• Equity at exit: $75,123

Cash invested: $32,200 (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 75140

• Home prices YoY: 1.3%
• Active inventory: 147
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,725 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$385 /mo · $4,617/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$362
• Net cashflow: $327

Break-even live

Break-even rent $1,311

Max offer price $115,000

Occupancy floor 76%

Sensitivity live

Price	-10% $392	-5% $360	+0% $327	+5% $295	+10% $262
Rent	-10% $191	-5% $259	+0% $327	+5% $395	+10% $463
Rate	-1.0pp $385	-0.5pp $356	base $327	+0.5pp $297	+1.0pp $267

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-04-24
   status Pending 1649-char remark

   Show marketing remark (1649 chars)

   Full of Character & Potential – Vintage 1912 Craftsman on Expansive Lot Step back in time with this charming 1912 Craftsman-style home, brimming with timeless character and endless possibilities. If you’ve been searching for a unique fixer-upper with room to grow both inside and out this rare gem is one you won’t want to miss. From the intricate trim, windows, and doors, the craftsmanship throughout this home is truly remarkable. Rich wooden walls add rustic warmth and vintage appeal, making this property a dream for lovers of old-world charm. Situated on a spacious 0.80-acre lot, the property also features a metal carport in the backyard for added convenience. to add there is an additional 0.32-acre lot directly across O’Hara Street included in the sale. Step back in time with this charming 1912 Craftsman-style home, brimming with timeless character and endless possibilities. If you’ve been searching for a unique fixer-upper in a quaint community with room to grow—both inside and out—this rare gem is one you won’t want to miss. Situated on a spacious 0.80-acre lot, the property also features a metal carport in the backyard for added convenience. The sizeable yard offers opportunity for gardening, outdoor activities, and there is a 0.32-acre lot directly across O’Hara Street included in the sale. Whether you’re envisioning a full restoration or looking to preserve its historic beauty while adding your own touch, this home offers a rare opportunity to bring your vision to life. Properties with this much character and potential don’t come around often.

2. 2026-04-24
   status Pending

   Show marketing remark (1649 chars)

   Full of Character & Potential – Vintage 1912 Craftsman on Expansive Lot Step back in time with this charming 1912 Craftsman-style home, brimming with timeless character and endless possibilities. If you’ve been searching for a unique fixer-upper with room to grow both inside and out this rare gem is one you won’t want to miss. From the intricate trim, windows, and doors, the craftsmanship throughout this home is truly remarkable. Rich wooden walls add rustic warmth and vintage appeal, making this property a dream for lovers of old-world charm. Situated on a spacious 0.80-acre lot, the property also features a metal carport in the backyard for added convenience. to add there is an additional 0.32-acre lot directly across O’Hara Street included in the sale. Step back in time with this charming 1912 Craftsman-style home, brimming with timeless character and endless possibilities. If you’ve been searching for a unique fixer-upper in a quaint community with room to grow—both inside and out—this rare gem is one you won’t want to miss. Situated on a spacious 0.80-acre lot, the property also features a metal carport in the backyard for added convenience. The sizeable yard offers opportunity for gardening, outdoor activities, and there is a 0.32-acre lot directly across O’Hara Street included in the sale. Whether you’re envisioning a full restoration or looking to preserve its historic beauty while adding your own touch, this home offers a rare opportunity to bring your vision to life. Properties with this much character and potential don’t come around often.

3. 2026-04-15
   listed $115,000 Active
4. 2026-03-03
   listed $115,000 Active 1649-char remark

   Show marketing remark (1649 chars)

   Full of Character & Potential – Vintage 1912 Craftsman on Expansive Lot Step back in time with this charming 1912 Craftsman-style home, brimming with timeless character and endless possibilities. If you’ve been searching for a unique fixer-upper with room to grow both inside and out this rare gem is one you won’t want to miss. From the intricate trim, windows, and doors, the craftsmanship throughout this home is truly remarkable. Rich wooden walls add rustic warmth and vintage appeal, making this property a dream for lovers of old-world charm. Situated on a spacious 0.80-acre lot, the property also features a metal carport in the backyard for added convenience. to add there is an additional 0.32-acre lot directly across O’Hara Street included in the sale. Step back in time with this charming 1912 Craftsman-style home, brimming with timeless character and endless possibilities. If you’ve been searching for a unique fixer-upper in a quaint community with room to grow—both inside and out—this rare gem is one you won’t want to miss. Situated on a spacious 0.80-acre lot, the property also features a metal carport in the backyard for added convenience. The sizeable yard offers opportunity for gardening, outdoor activities, and there is a 0.32-acre lot directly across O’Hara Street included in the sale. Whether you’re envisioning a full restoration or looking to preserve its historic beauty while adding your own touch, this home offers a rare opportunity to bring your vision to life. Properties with this much character and potential don’t come around often.

5. 2026-02-26
   historical
6. 2025-09-11
   price $130,000
7. 2025-08-27
   status Active
8. 2025-08-27
   listed $130,000 Active
9. 2025-08-26
   historical
10. 2025-05-27
    price $135,000
11. 2025-05-17
    price $135,000
12. 2025-03-05
    listed $150,000 Active
13. 2025-02-26
    listed $150,000 Active
14. 2024-05-30
    historical
15. 2024-03-12
    price $140,000
16. 2024-03-12
    price $140,000
17. 2023-12-20
    listed $160,000 Active
18. 2023-12-12
    listed $160,000 Active

ⓘ 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: $4,617 · $385/mo
• Projected year-2 tax: $4,617 · $385/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 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥110°F today · 25 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,703
• − Mortgage interest: −$6,442
• − Property taxes: −$4,617
• − Insurance: −$575
• − Repairs & maintenance: −$1,656
• − Management: −$1,656
• − Depreciation: −$3,345
• Taxable income: $2,411
• Est. tax owed @ 24.0%: −$579
• After-tax cash flow: $3,347/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: Grand Saline ISD
• NCES district ID: 4821450
• Math proficiency: 38% ▼ -2.00%
• Reading proficiency: 33% ▼ -7.00%
• Median HH income: $41,621
• Composite: 29.99/100
• National rank: #6365
• State rank: #520 of 826 in TX

Livability — Grand Saline

• Score: 64/100
• State rank: #800
• US rank: #14580

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Grand Saline, TX
• Population (ZIP): 8,596

Population outlook (Van Zandt County) Hauer SSP2

• Today (2025): 55,634 people
• By 2030: 56,479 · +1.5%
• By 2040: 57,672 · +3.7%
• By 2050: 57,913 · +4.1%
• By 2075: 57,544 · +3.4%
• By 2100: 52,659 · -5.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Hispanic / Latino 28% Two or more races 9%
• Hispanic origin (detail): Mexican 27%
• Common ancestry: Slovak 2% Serbian 1% Italian 1%
• Foreign-born: 13% · Canada
• Languages at home: 75% English-only · Spanish 25%

Political lean MEDSL · Van Zandt

• 2024 margin: Solid R (+74.8) · D 12.3% · R 87.2%
• 2008→2024 swing: -19.8pp toward R · 2008: -55.1pp · 2024: -74.8pp
• All cycles: 2024: R+74.8 2020: R+72.1 2016: R+72.1 2012: R+66.6 2008: R+55.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.69%
• Current HPI: 215.5979
• 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

-28.1% since first listed

18 events — show timeline

• 2026-04-24 Pending — GTAR
• 2026-04-24 Pending — NTREIS
• 2026-04-15 Listed $115,000 NTREIS
• 2026-03-03 Listed $115,000 GTAR
• 2026-02-26 Listing Removed — NTREIS
• 2025-09-11 Price Changed $130,000 NTREIS
• 2025-08-27 Relisted — NTREIS
• 2025-08-27 Listed $130,000 GTAR
• 2025-08-26 Listing Removed — NTREIS
• 2025-05-27 Price Changed $135,000 NTREIS
• 2025-05-17 Price Changed $135,000 GTAR
• 2025-03-05 Listed $150,000 NTREIS
• 2025-02-26 Listed $150,000 GTAR
• 2024-05-30 Listing Removed — NTREIS
• 2024-03-12 Price Changed $140,000 NTREIS
• 2024-03-12 Price Changed $140,000 GTAR
• 2023-12-20 Listed $160,000 NTREIS
• 2023-12-12 Listed $160,000 GTAR

Property tax history

+7.3%/yr

Latest (2025): $4,617 · +3.4% YoY. Source: county tax records.