400 N Weaver St · Gainesville, TX 76240

$189,000

2 bd · 2.0 ba · 1,881 sqft · SingleFamily public records · 605 Days on market

Built 1986 10,846 sqft lot $100/sqft · 25% below area Est $252k · 25% under ↓ 5% since listing

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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 +17.1/30.0
• ARV discount +15.0/15.0
• DSCR +5.3/10.0
• 1% rule +4.8/10.0
• 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

***THIS IS THE DAY AND AGE WHERE THERE IS PLENTY OF BUILDING AND REMODELING GOING ON*DRIVE BY THIS PROPERTY AND BRING YOUR VISION***

Key facts

• Remodeling going on
• 0.25 acre lot
• Garage

Tags

• REMODELING GOING ON

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $189k.

Deal economics

• At list price, monthly cash flow is $133 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $184k (2.5% below list).
• Recommended offer: $166k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.1% vs local median 3.6% 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: amenities F, commute F, employment 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.
• Zoned schools: W E Chalmers El (math 28% / reading 24%, grade F, #2,954 of 4,322 statewide, top 69%, 716 students, 67% FRL); Gainesville J H (math 32% / reading 38%, grade F, #842 of 1,662 statewide, top 51%, 426 students, 71% FRL); Gainesville H S (math 42% / reading 22%, grade F, #1,044 of 1,632 statewide, top 66%, 863 students, 47% FRL).
• Market conditions: 461 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 45d 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 31% 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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 605 days — a 12% lower offer ($166k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $166,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 605 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 0.98% ✗
• Cap rate: 7.14%
• Cash-on-cash: 3.01%
• DSCR: 1.13
• GRM: 8.5

CMA / ARV

• ARV (median comp): $251,831
• List price: $189,000
• Delta: -24.95%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
502 S Chestnut St	0.50mi	3/2.0 (+1)	1,725 (-8%)	4mo	$179,000	$104	55
723 S Dixon St	0.66mi	3/2.0 (+1)	1,736 (-8%)	1mo	$230,000	$132	51
415 N Taylor St	0.68mi	3/2.0 (+1)	1,832 (-3%)	12mo	$239,000	$130	50
511 Lindsay	0.60mi	3/2.0 (+1)	2,070 (+10%)	1mo	$262,000	$127	49
803 S Rusk St	0.68mi	3/2.0 (+1)	1,748 (-7%)	6mo	$285,000	$163	46
1124 Throckmorton St	0.59mi	2/1.0	1,610 (-14%)	6mo	$187,000	$116	39
810 Mill St	0.39mi	3/2.0 (+1)	1,636 (-13%)	22mo	$295,000	$180	37
410 Lanius St	0.74mi	3/2.0 (+1)	1,625 (-14%)	16mo	$253,500	$156	24

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: -11.5%
• Equity multiple: 0.58×
• Total profit: $-22,135
• Equity at exit: $28,181

10-year hold

• IRR: -2.3%
• Equity multiple: 0.84×
• Total profit: $-8,234
• Equity at exit: $16,341

Cash invested: $52,920 (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: 461
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,843 medium
• Mortgage (P&I): −$991
• Tax from tax record: −$253 /mo · $3,040/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$387
• Net cashflow: $133

Break-even live

Break-even rent $1,675

Max offer price $189,000

Occupancy floor 88%

Sensitivity live

Price	-10% $240	-5% $186	+0% $133	+5% $79	+10% $26
Rent	-10% $-13	-5% $60	+0% $133	+5% $206	+10% $278
Rate	-1.0pp $228	-0.5pp $181	base $133	+0.5pp $84	+1.0pp $34

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: $47,250
• Closing costs: $5,670
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1010 E Main St Gainesville, TX	3.0	1.0	1263	$1,550	$1.23	45d	1	0.77mi
426 N Clements St Gainesville, TX	3.0	2.0	1408	$2,307	$1.64	45d	1	0.92mi
1331 Lanius St Gainesville, TX	3.0	2.0	1300	$1,850	$1.42	45d	1	1.16mi
1911 College St Gainesville, TX	3.0	2.0	1880	$2,425	$1.29	45d	1	1.45mi

Listing history 21 events

1. 2026-06-19
   days on market $189,000 Active 605 DOM
2. 2026-06-18
   days on market $189,000 Active 604 DOM
3. 2026-06-17
   days on market $189,000 Active 603 DOM
4. 2026-06-16
   days on market $189,000 Active 602 DOM
5. 2026-06-15
   days on market $189,000 Active 601 DOM
6. 2026-06-14
   days on market $189,000 Active 599 DOM
7. 2026-06-12
   days on market $189,000 Active 598 DOM
8. 2026-06-09
   days on market $189,000 Active 595 DOM
9. 2026-06-08
   days on market $189,000 Active 594 DOM
10. 2026-06-07
    days on market $189,000 Active 593 DOM
11. 2026-06-05
    days on market $189,000 Active 590 DOM
12. 2026-06-03
    days on market $189,000 Active 589 DOM
13. 2026-06-02
    days on market $189,000 Active 588 DOM
14. 2026-06-01
    days on market $189,000 Active 587 DOM
15. 2026-05-31
    days on market $189,000 Active 586 DOM
16. 2026-05-30
    days on market $189,000 Active 585 DOM
17. 2026-03-08
    price $189,000 132-char remark

    Show marketing remark (132 chars)

    ***THIS IS THE DAY AND AGE WHERE THERE IS PLENTY OF BUILDING AND REMODELING GOING ON*DRIVE BY THIS PROPERTY AND BRING YOUR VISION***

18. 2025-11-24
    price $195,000 132-char remark

    Show marketing remark (132 chars)

    ***THIS IS THE DAY AND AGE WHERE THERE IS PLENTY OF BUILDING AND REMODELING GOING ON*DRIVE BY THIS PROPERTY AND BRING YOUR VISION***

19. 2024-10-20
    listed $199,900 Active 132-char remark

    Show marketing remark (132 chars)

    ***THIS IS THE DAY AND AGE WHERE THERE IS PLENTY OF BUILDING AND REMODELING GOING ON*DRIVE BY THIS PROPERTY AND BRING YOUR VISION***

20. 2011-05-11
    soldstatus
21. 2001-04-11
    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: $3,040 · $253/mo
• Projected year-2 tax: $3,459 · $288/mo
• Expected delta: +$419/yr (+$35/mo · 13.8%)

ⓘ 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 7/10 Severe 7 d/yr ≥110°F today · 22 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 15% 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: $22,115
• − Mortgage interest: −$10,587
• − Property taxes: −$3,040
• − Insurance: −$945
• − Repairs & maintenance: −$1,769
• − Management: −$1,769
• − Depreciation: −$5,498
• Taxable loss: −$1,493
• Est. tax savings @ 24.0%: +$358
• After-tax cash flow: $1,951/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

-5.5% since first listed

5 events — show timeline

• 2026-03-08 Price Changed $189,000 NTREIS
• 2025-11-24 Price Changed $195,000 NTREIS
• 2024-10-20 Listed $199,900 NTREIS
• 2011-05-11 Sold (Public Records) — Public Records
• 2001-04-11 Sold (Public Records) — Public Records

Property tax history

+9.0%/yr

Latest (2025): $3,040 · +10.4% YoY. Source: county tax records.