318 W Ross St · Gorman, TX 76454

$100,000

3 bd · 1.0 ba · 1,549 sqft · SingleFamily public records · 7 Days on market

Built 1937 0.26 ac lot Est $96k · at est. ↓ 17% 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 +24.8/30.0
• DSCR +8.0/10.0
• 1% rule +7.1/10.0
• Appreciation +5.7/10.0
• ARV discount +5.6/15.0
• Schools +3.1/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

* * Investor Opportunity in Gorman, Texas! * * Bring your vision and unlock the potential of this charming property situated on a corner lot in the quiet community of Gorman, Texas. This home offers solid potential for investors, flippers, landlords, or buyers looking to create value through renovation and updates. The main level features a functional layout with plenty of space to reimagine and modernize, while the second floor includes a flexible bonus area complete with its own bathroom. This versatile space could serve as an additional bedroom, guest suite, office, game room, or rental space, adding to the property's value and appeal. Located on a prominent corner lot in a peacefu

Key facts

• Office
• Additional bedroom
• Flexible bonus area

Tags

• CORNER LOT
• FLEXIBLE BONUS AREA
• ADDITIONAL BEDROOM
• GUEST SUITE
• OFFICE
• GAME ROOM

Property features AI

Finance

• Other: Property listed as residential single-family; Possession at closing/funding
• Financial info: Accepts Cash, Conventional, or Other financing
• HOA & community: No association

Exterior

• Parking: Covered carport with 2 covered/carport spaces (2-car carport)
• Utilities: City water; City sewer; Not in a municipal utility district
• Home design: Single-family residence (attached); Two levels
• Construction: Built in 1937
• Exterior features: Lot under 0.5 acre (about 0.264 acres); Subdivision: Ot Gorman

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator
• Bedrooms: Primary bedroom on level 1 (approximately 10 x 10); Bedroom on level 1 (approximately 10 x 10); Bedroom on level 2 (approximately 15 x 20); Three bedrooms total
• Bathrooms: Two full bathrooms; One half bathroom; Three total bathrooms
• Heating & cooling: Central heating; Electric cooling
• Interior features: Open living area (one living area); Separate dining area; Other interior features; Four total rooms
• Laundry & utility: Includes laundry/utility area (washer/dryer not specified)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $212 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).

Location & tenants

• Location reads 62/100 on livability (#906 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: health & safety D+, amenities F, commute F.
• Gorman ISD (rural): math 35% / reading 35% proficiency, ranked #928 of 1,141 in TX (top 81%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Maxfield El (math 24% / reading 34%, grade F, #2,525 of 4,322 statewide, top 62%, 105 students, 77% FRL) — zoned schools average 77% FRL vs 56% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 23 active listings in the ZIP; 10 units permitted in Eastland County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($691 loan paydown + $1k appreciation (1.4% local appreciation)).
• Eastland County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.4% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1937 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 6→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $100,000

Questions for the listing agent

1. Built in 1937 — 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: 1.21% ✓
• Cap rate: 8.83%
• Cash-on-cash: 9.07%
• DSCR: 1.40
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $96,038
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
131 S Crescent St	0.20mi	3/2.0	1,628 (+5%)	13mo	$270,000	$166	67
102 W Coke St	0.16mi	3/2.0	1,449 (-6%)	18mo	$90,000	$62	63
322 S Third	0.34mi	3/1.5	1,333 (-14%)	1mo	$60,000	$45	58

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

Projected returns pro-forma

1.45% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 12.1%
• Equity multiple: 1.63×
• Total profit: $17,642
• Equity at exit: $36,516

10-year hold

• IRR: 15.3%
• Equity multiple: 2.95×
• Total profit: $54,521
• Equity at exit: $50,422

Cash invested: $28,000 (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 76454

• Home prices YoY: 1.7%
• Active inventory: 23
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,211 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$179 /mo · $2,147/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$254
• Net cashflow: $212

Break-even live

Break-even rent $943

Max offer price $100,000

Occupancy floor 78%

Sensitivity live

Price	-10% $268	-5% $240	+0% $212	+5% $183	+10% $155
Rent	-10% $116	-5% $164	+0% $212	+5% $260	+10% $307
Rate	-1.0pp $262	-0.5pp $237	base $212	+0.5pp $186	+1.0pp $159

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-06-17
   days on market $100,000 Active 7 DOM
2. 2026-06-16
   days on market $100,000 Active 6 DOM
3. 2026-06-15
   days on market $100,000 Active 5 DOM
4. 2026-06-13
   pricedays on market $100,000 Active 3 DOM
5. 2026-06-12
   remarks 699-char remark
6. 2026-06-12
   listed $120,000 Active 2 DOM

ⓘ 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: $2,147 · $179/mo
• Projected year-2 tax: $2,147 · $179/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 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 7/10 Severe 6 d/yr ≥106°F today · 18 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,533
• − Mortgage interest: −$5,602
• − Property taxes: −$2,147
• − Insurance: −$500
• − Repairs & maintenance: −$1,163
• − Management: −$1,163
• − Depreciation: −$2,909
• Taxable income: $1,050
• Est. tax owed @ 24.0%: −$252
• After-tax cash flow: $2,289/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: Gorman ISD
• NCES district ID: 4821270
• Math proficiency: 35% ▬ 0.00%
• Reading proficiency: 35% ▬ 0.00%
• Median HH income: $33,767
• Composite: 31.43/100
• National rank: #11200
• State rank: #928 of 1141 in TX

Livability — Gorman

• Score: 62/100
• State rank: #906
• US rank: #16249

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gorman, TX
• Population (ZIP): 1,396

Population outlook (Eastland County) Hauer SSP2

• Today (2025): 17,433 people
• By 2030: 16,908 · -3.0%
• By 2040: 15,855 · -9.1%
• By 2050: 14,906 · -14.5%
• By 2075: 12,843 · -26.3%
• By 2100: 10,344 · -40.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Hispanic / Latino 22% Two or more races 18% Black 3%
• Hispanic origin (detail): Mexican 21%
• Common ancestry: Italian 17% Slovak 4% Serbian 2%
• Foreign-born: 7% · Canada
• Languages at home: 81% English-only · Spanish 19%

Political lean MEDSL · Eastland

• 2024 margin: Solid R (+77.5) · D 11.0% · R 88.5%
• 2008→2024 swing: -17.6pp toward R · 2008: -59.8pp · 2024: -77.5pp
• All cycles: 2024: R+77.5 2020: R+75.4 2016: R+75.4 2012: R+68.9 2008: R+59.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.45%
• Current HPI: 85.4066
• 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

-16.7% since first listed

3 events — show timeline

• 2026-06-13 Price Changed $100,000 NTREIS
• 2026-06-09 Listed $120,000 NTREIS
• 2016-02-25 Sold (Public Records) — Public Records

Property tax history

+2.3%/yr

Latest (2025): $2,147 · +7.2% YoY. Source: county tax records.