1414 Rice Ave · Gainesville, TX 76240

$121,000

3 bd · 1.0 ba · 1,536 sqft · SingleFamily public records · 63 Days on market

Built 1950 0.31 ac lot $79/sqft · 45% below area Est $222k · 45% under ↓ 14% 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 +28.4/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.8/10.0
• 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

Investor opportunity in Gainesville! Approximately 1,536 sq ft per tax records. Currently configured as a 2-bedroom, 1-bath home, although tax records reflect three bedrooms. Features include original wood floors, vintage cabinetry, original windows, and a living room with wood-burning fireplace. Rear laundry room provides convenient access to the backyard. Interior is ready for updates and offers a great opportunity for buyers looking to bring their vision and personal touch. Detached garage includes an additional room with window unit AC that could serve as a workshop or flex space (not considered a bedroom). Property *SOLD AS IS*. Cash or Conventional only.

Key facts

• Rear laundry room
• Additional room
• Original wood floors

Tags

• ORIGINAL WOOD FLOORS
• VINTAGE CABINETRY
• WOOD BURNING FIREPLACE
• REAR LAUNDRY ROOM
• DETACHED GARAGE
• ADDITIONAL ROOM

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $121k.

Deal economics

• At list price, monthly cash flow is $391 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $121k).
• Recommended offer: $114k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.2% 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; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 190 units permitted in Cooke County in 2024 (0 in 5+ unit buildings).
• This rent runs 30% of the median local income ($72k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $837 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 63 days — a 6% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y ago; this cycle's ask has dropped $10k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price; built in 1950 — 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 $113,740 (6.0% below list)

Questions for the listing agent

1. It's been on market 63 days. Have you received any prior offers? Is the seller open to a 6% 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. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.48% ✓
• Cap rate: 10.17%
• Cash-on-cash: 13.83%
• DSCR: 1.62
• GRM: 5.6

CMA / ARV

• ARV (median comp): $221,780
• List price: $121,000
• Delta: -45.44%
• 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
1009 S Morris St	0.38mi	3/1.0	1,504 (-2%)	4mo	$90,000	$60	75
121 W Tennie St	0.74mi	3/2.0	1,586 (+3%)	6mo	$218,000	$137	50
1409 Lynwood St	0.53mi	3/2.0	1,427 (-7%)	12mo	$166,100	$116	50
410 Lanius St	0.53mi	3/2.0	1,625 (+6%)	16mo	$253,500	$156	48
1011 S Grand	0.43mi	3/2.0	1,377 (-10%)	13mo	$287,000	$208	48
1013 S Grand	0.42mi	3/2.0	1,377 (-10%)	14mo	$277,000	$201	48
1407 S Clements St	0.37mi	3/2.0	1,730 (+13%)	15mo	$329,000	$190	45
723 S Dixon St	0.65mi	3/2.0	1,736 (+13%)	1mo	$230,000	$132	43
1312 S Clements St	0.41mi	4/2.0 (+1)	1,734 (+13%)	10mo	$349,000	$201	42
803 S Rusk St	0.60mi	3/2.0	1,748 (+14%)	6mo	$285,000	$163	40
720 S Morris St	0.60mi	3/1.0	1,352 (-12%)	15mo	$224,000	$166	40
200 E Garnett St	0.71mi	2/2.0 (-1)	1,370 (-11%)	16mo	$189,500	$138	27

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: 4.1%
• Equity multiple: 1.16×
• Total profit: $5,411
• Equity at exit: $18,041

10-year hold

• IRR: 13.7%
• Equity multiple: 2.10×
• Total profit: $37,319
• Equity at exit: $10,462

Cash invested: $33,880 (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 76240

• Active inventory: 462
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,789 medium
• Mortgage (P&I): −$635
• Tax from tax record: −$338 /mo · $4,052/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$376
• Net cashflow: $391

Break-even live

Break-even rent $1,294

Max offer price $121,000

Occupancy floor 73%

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: $30,250
• Closing costs: $3,630
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
923 S Wine St Gainesville, TX	3.0	1.0	1216	$1,550	$1.27	43d	1	0.64mi
1331 Lanius St Gainesville, TX	3.0	2.0	1300	$1,850	$1.42	43d	1	0.73mi
1010 E Main St Gainesville, TX	3.0	1.0	1263	$1,550	$1.23	43d	1	0.94mi
426 N Clements St Gainesville, TX	3.0	2.0	1408	$2,307	$1.64	43d	1	1.31mi

Listing history 15 events

1. 2026-05-18
   status Pending 668-char remark

   Show marketing remark (668 chars)

   Investor opportunity in Gainesville! Approximately 1,536 sq ft per tax records. Currently configured as a 2-bedroom, 1-bath home, although tax records reflect three bedrooms. Features include original wood floors, vintage cabinetry, original windows, and a living room with wood-burning fireplace. Rear laundry room provides convenient access to the backyard. Interior is ready for updates and offers a great opportunity for buyers looking to bring their vision and personal touch. Detached garage includes an additional room with window unit AC that could serve as a workshop or flex space (not considered a bedroom). Property *SOLD AS IS*. Cash or Conventional only.

2. 2026-05-04
   historical Active Option Contract 668-char remark

   Show marketing remark (668 chars)

   Investor opportunity in Gainesville! Approximately 1,536 sq ft per tax records. Currently configured as a 2-bedroom, 1-bath home, although tax records reflect three bedrooms. Features include original wood floors, vintage cabinetry, original windows, and a living room with wood-burning fireplace. Rear laundry room provides convenient access to the backyard. Interior is ready for updates and offers a great opportunity for buyers looking to bring their vision and personal touch. Detached garage includes an additional room with window unit AC that could serve as a workshop or flex space (not considered a bedroom). Property *SOLD AS IS*. Cash or Conventional only.

3. 2026-04-18
   price $121,000 668-char remark

   Show marketing remark (668 chars)

   Investor opportunity in Gainesville! Approximately 1,536 sq ft per tax records. Currently configured as a 2-bedroom, 1-bath home, although tax records reflect three bedrooms. Features include original wood floors, vintage cabinetry, original windows, and a living room with wood-burning fireplace. Rear laundry room provides convenient access to the backyard. Interior is ready for updates and offers a great opportunity for buyers looking to bring their vision and personal touch. Detached garage includes an additional room with window unit AC that could serve as a workshop or flex space (not considered a bedroom). Property *SOLD AS IS*. Cash or Conventional only.

4. 2026-03-16
   listed $131,000 Active 668-char remark

   Show marketing remark (668 chars)

   Investor opportunity in Gainesville! Approximately 1,536 sq ft per tax records. Currently configured as a 2-bedroom, 1-bath home, although tax records reflect three bedrooms. Features include original wood floors, vintage cabinetry, original windows, and a living room with wood-burning fireplace. Rear laundry room provides convenient access to the backyard. Interior is ready for updates and offers a great opportunity for buyers looking to bring their vision and personal touch. Detached garage includes an additional room with window unit AC that could serve as a workshop or flex space (not considered a bedroom). Property *SOLD AS IS*. Cash or Conventional only.

5. 2020-03-09
   soldstatus Sold 170-char remark

   Show marketing remark (170 chars)

   Very well maintained home ! Detached garage , fenced in yard for the kids or critters. Quiet neighborhood . The original hard wood floors have been recently refinished .

6. 2020-03-09
   soldstatus

   Show marketing remark (170 chars)

   Very well maintained home ! Detached garage , fenced in yard for the kids or critters. Quiet neighborhood . The original hard wood floors have been recently refinished .

7. 2020-02-13
   status Pending 170-char remark

   Show marketing remark (170 chars)

   Very well maintained home ! Detached garage , fenced in yard for the kids or critters. Quiet neighborhood . The original hard wood floors have been recently refinished .

8. 2020-02-03
   historical Active Option Contract 170-char remark

   Show marketing remark (170 chars)

   Very well maintained home ! Detached garage , fenced in yard for the kids or critters. Quiet neighborhood . The original hard wood floors have been recently refinished .

9. 2020-02-03
   status Active 170-char remark

   Show marketing remark (170 chars)

   Very well maintained home ! Detached garage , fenced in yard for the kids or critters. Quiet neighborhood . The original hard wood floors have been recently refinished .

10. 2020-01-24
    historical Active Option Contract 170-char remark

    Show marketing remark (170 chars)

    Very well maintained home ! Detached garage , fenced in yard for the kids or critters. Quiet neighborhood . The original hard wood floors have been recently refinished .

11. 2020-01-23
    historical 170-char remark

    Show marketing remark (170 chars)

    Very well maintained home ! Detached garage , fenced in yard for the kids or critters. Quiet neighborhood . The original hard wood floors have been recently refinished .

12. 2019-09-26
    price $129,500 170-char remark

    Show marketing remark (170 chars)

    Very well maintained home ! Detached garage , fenced in yard for the kids or critters. Quiet neighborhood . The original hard wood floors have been recently refinished .

13. 2019-09-04
    price $137,000 170-char remark

    Show marketing remark (170 chars)

    Very well maintained home ! Detached garage , fenced in yard for the kids or critters. Quiet neighborhood . The original hard wood floors have been recently refinished .

14. 2019-08-21
    listed $140,000 Active 170-char remark

    Show marketing remark (170 chars)

    Very well maintained home ! Detached garage , fenced in yard for the kids or critters. Quiet neighborhood . The original hard wood floors have been recently refinished .

15. 2016-07-26
    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: $4,052 · $338/mo
• Projected year-2 tax: $4,052 · $338/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 18% 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: $21,467
• − Mortgage interest: −$6,778
• − Property taxes: −$4,052
• − Insurance: −$605
• − Repairs & maintenance: −$1,717
• − Management: −$1,717
• − Depreciation: −$3,520
• Taxable income: $3,077
• Est. tax owed @ 24.0%: −$738
• After-tax cash flow: $3,949/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

-13.6% since first listed

15 events — show timeline

• 2026-05-18 Pending — NTREIS
• 2026-05-04 Contingent — NTREIS
• 2026-04-18 Price Changed $121,000 NTREIS
• 2026-03-16 Listed $131,000 NTREIS
• 2020-03-09 Sold (Public Records) — Public Records
• 2020-03-09 Sold (MLS) — NTREIS
• 2020-02-13 Pending — NTREIS
• 2020-02-03 Contingent — NTREIS
• 2020-02-03 Relisted — NTREIS
• 2020-01-24 Contingent — NTREIS
• 2020-01-23 Listing Removed — NTREIS
• 2019-09-26 Price Changed $129,500 NTREIS
• 2019-09-04 Price Changed $137,000 NTREIS
• 2019-08-21 Listed $140,000 NTREIS
• 2016-07-26 Sold (Public Records) — Public Records

Property tax history

+10.0%/yr

Latest (2025): $4,052 · +10.4% YoY. Source: county tax records.