1806 N Culberson St · Gainesville, TX 76240

$86,900

2 bd · 2.0 ba · 760 sqft · SingleFamily public records · 29 Days on market

Built 1952 8,407 sqft lot $114/sqft · 27% below area Est $119k · 27% under

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Buyer or Buyer's agent to verify all information

Key facts

• 8,407 sq ft lot
• Garage
• Built 1952

Property features AI

Finance

• Other: Possession at closing/funding; Listing is active and offered for sale
• Financial info: Listing terms include Cash and Conventional; Treat as clear loan type; No second mortgage indicated
• HOA & community: No homeowners association

Exterior

• Parking: Attached garage; Garage faces front; 2-car single door configuration; 1 covered space; Garage dimensions approximately 12' wide x 24' long
• Security: No specific security features provided
• Utilities: City water; City sewer; Not in a municipal utility district
• Home design: Single family residence; Residential property; One story; Preowned (built in 1952)
• Construction: Brick construction; Composition roof; Built in 1952
• Exterior features: Less than 0.5 acre lot; Subdivision: Berend; Use your favorite GPS for directions

Interior

• Kitchen: Dishwasher; Disposal; Gas cooktop
• Bedrooms: 2 bedrooms (both on the main level)
• Flooring: No flooring details provided
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Ceiling fans; Window air conditioning units
• Interior features: Natural woodwork; One living area; One dining area; 5 total rooms; One level (single story)
• Laundry & utility: No specific laundry details provided

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $87k.

Deal economics

• At list price, monthly cash flow is $379 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $87k).
• Recommended offer: $86k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.5% 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; 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 $601 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 $24k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($86k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 5y 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: built in 1952 — expect roof / HVAC / electrical / plumbing capex.
• 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 $85,596 (1.5% below list)

Questions for the listing agent

1. Built in 1952 — 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 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?
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: 1.51% ✓
• Cap rate: 11.53%
• Cash-on-cash: 18.71%
• DSCR: 1.83
• GRM: 5.5

CMA / ARV

• ARV (median comp): $119,197
• List price: $86,900
• Delta: -27.10%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1804 Throckmorton St	0.06mi	2/1.0	816 (+7%)	20mo	$185,000	$227	64
1707 N Weaver St	0.11mi	2/1.0	672 (-12%)	10mo	$100,000	$149	64
714 Harvey St	0.54mi	2/1.0	784 (+3%)	17mo	$99,900	$127	52
1108 Hancock St	0.50mi	2/1.0	816 (+7%)	18mo	$134,995	$165	45

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: 10.5%
• Equity multiple: 1.42×
• Total profit: $10,137
• Equity at exit: $12,957

10-year hold

• IRR: 19.6%
• Equity multiple: 2.65×
• Total profit: $40,163
• Equity at exit: $7,514

Cash invested: $24,332 (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: 5.5×

Monthly cashflow live

• Estimated rent: $1,312 medium
• Mortgage (P&I): −$456
• Tax from tax record: −$165 /mo · $1,985/yr
• Insurance: −$36
• HOA: −$0
• Vacancy / Maint / Mgmt: −$276
• Net cashflow: $379

Break-even live

Break-even rent $832

Max offer price $86,900

Occupancy floor 66%

Sensitivity live

Price	-10% $429	-5% $404	+0% $379	+5% $355	+10% $330
Rent	-10% $276	-5% $328	+0% $379	+5% $431	+10% $483
Rate	-1.0pp $423	-0.5pp $401	base $379	+0.5pp $357	+1.0pp $334

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: $21,725
• Closing costs: $2,607
• 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	45d	1	1.44mi

Listing history 13 events

1. 2026-05-16
   price $86,900 58-char remark
2. 2026-04-28
   listed $90,000 Active 58-char remark
3. 2025-07-22
   historical $800
4. 2025-06-20
   listed $800
5. 2023-11-16
   historical $1,100
6. 2023-11-09
   listed $1,100
7. 2023-10-28
   historical $1,100
8. 2023-09-09
   listed $1,100
9. 2021-10-01
   soldstatus
10. 2021-09-29
    soldstatus Sold 48-char remark

    Show marketing remark (48 chars)

    Buyer or Buyer's agent to verify all information

11. 2021-08-09
    historical Active Contingent 48-char remark

    Show marketing remark (48 chars)

    Buyer or Buyer's agent to verify all information

12. 2021-07-11
    listed $83,400 Active 48-char remark

    Show marketing remark (48 chars)

    Buyer or Buyer's agent to verify all information

13. 2003-03-12
    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: $1,985 · $165/mo
• Projected year-2 tax: $1,985 · $165/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 7/10 Severe 7 d/yr ≥110°F today · 22 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 16% 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: $15,747
• − Mortgage interest: −$4,868
• − Property taxes: −$1,985
• − Insurance: −$434
• − Repairs & maintenance: −$1,260
• − Management: −$1,260
• − Depreciation: −$2,528
• Taxable income: $3,413
• Est. tax owed @ 24.0%: −$819
• After-tax cash flow: $3,734/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

+4.2% since first listed

14 events — show timeline

• 2026-05-27 Pending — NTREIS
• 2026-05-16 Price Changed $86,900 NTREIS
• 2026-04-28 Listed $90,000 NTREIS
• 2025-07-22 Rental Removed $800 SHOWMOJO
• 2025-06-20 Listed for Rent $800 SHOWMOJO
• 2023-11-16 Rental Removed $1,100 NTREIS
• 2023-11-09 Listed for Rent $1,100 NTREIS
• 2023-10-28 Rental Removed $1,100 NTREIS
• 2023-09-09 Listed for Rent $1,100 NTREIS
• 2021-10-01 Sold (Public Records) — Public Records
• 2021-09-29 Sold (MLS) — NTREIS
• 2021-08-09 Contingent — NTREIS
• 2021-07-11 Listed $83,400 NTREIS
• 2003-03-12 Sold (Public Records) — Public Records

Property tax history

+7.8%/yr

Latest (2025): $1,985 · +10.4% YoY. Source: county tax records.