215 Bell St · Gainesville, TX 76240

$117,500

2 bd · 1.0 ba · 1,148 sqft · SingleFamily public records · 157 Days on market

Built 1935 Fair condition 8,886 sqft lot $102/sqft · 39% below area Est $194k · 39% 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 +29.1/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.9/10.0
• Livability +3.3/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 2 bedroom, 1 bathroom home sits on a spacious lot in a quiet Gainesville neighborhood. Built in the 1930s, it offers solid bones and a traditional layout. This property could easily be a resale, rental, or residential home. The covered front porch is south facing for warm evenings and cozy morning coffee. The fenced in backyard is perfect for gatherings, as well as a play area for children and pets. Recent updates include flooring in the backroom, and plumbing updates in the bathroom.

Key facts

• Covered front porch
• Recent updates
• Fenced in backyard

Tags

• COVERED FRONT PORCH
• FENCED IN BACKYARD
• RECENT UPDATES
• TRADITIONAL LAYOUT

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $118k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $407 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $118k).
• Recommended offer: $103k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.4% vs local median 3.2% 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: 540 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 93d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $812 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 $33k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 157 days — a 12% lower offer ($103k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 24y ago; this cycle's ask has dropped $28k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $103,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 157 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.39% ✓
• Cap rate: 10.45%
• Cash-on-cash: 14.84%
• DSCR: 1.66
• GRM: 6.0

CMA / ARV

• ARV (median comp): $193,550
• List price: $117,500
• Delta: -39.29%
• 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
213 W Tennie St	0.20mi	2/1.0	1,064 (-7%)	13mo	$200,000	$188	68
538 S Dixon St	0.08mi	2/1.0	1,016 (-12%)	12mo	$100,000	$98	66
907 S Dixon St S	0.26mi	2/1.0	1,048 (-9%)	13mo	$194,000	$185	63
1006 S Grand Ave	0.67mi	2/1.0	1,088 (-5%)	0mo	$159,000	$146	60
527 N Dixon St N	0.69mi	2/1.0	1,136 (-1%)	14mo	$120,000	$106	55
531 N Dixon St N	0.69mi	2/1.0	1,136 (-1%)	14mo	$99,500	$88	54
932 Moss St	0.57mi	3/1.5 (+1)	1,224 (+7%)	2mo	$120,000	$98	54
315 N Morris St	0.72mi	3/2.0 (+1)	1,200 (+4%)	4mo	$199,800	$167	47
333 N Red River St	0.52mi	2/1.0	1,288 (+12%)	10mo	$232,550	$181	47
1005 S Clements St	0.71mi	3/2.0 (+1)	1,180 (+3%)	8mo	$180,000	$153	47
1209 E Garnett St	0.63mi	2/1.0	1,058 (-8%)	13mo	$180,000	$170	47
527 N Chestnut St	0.71mi	3/2.0 (+1)	1,284 (+12%)	5mo	$239,500	$187	34

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: 5.4%
• Equity multiple: 1.21×
• Total profit: $6,938
• Equity at exit: $17,520

10-year hold

• IRR: 14.9%
• Equity multiple: 2.21×
• Total profit: $39,686
• Equity at exit: $10,159

Cash invested: $32,900 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 11 active · 5 under contract
• Months of supply: 6.6 mo (15%/mo absorbed)
• Median asking: $187,900 ($148/sqft)
• Median days on market: 78 d
• This list price: 18% of active listings are priced below it
• ARV vs active asking: +13.6% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 76240

• Active inventory: 540
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,637 high
• Mortgage (P&I): −$616
• Tax from tax record: −$221 /mo · $2,653/yr
• Insurance: −$49
• HOA: −$0
• Vacancy / Maint / Mgmt: −$344
• Net cashflow: $407

Break-even live

Break-even rent $1,122

Max offer price $117,500

Occupancy floor 70%

Sensitivity live

Price	-10% $473	-5% $440	+0% $407	+5% $374	+10% $340
Rent	-10% $277	-5% $342	+0% $407	+5% $471	+10% $536
Rate	-1.0pp $466	-0.5pp $437	base $407	+0.5pp $376	+1.0pp $345

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: $29,375
• Closing costs: $3,525
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 5 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	93d	1	0.58mi
1331 Lanius St Gainesville, TX	3.0	2.0	1300	$1,850	$1.42	93d	1	0.76mi
923 S Wine St Gainesville, TX	3.0	1.0	1216	$1,550	$1.27	93d	1	0.78mi
426 N Clements St Gainesville, TX	3.0	2.0	1408	$2,307	$1.64	93d	1	0.93mi
1610 Elizabeth St Gainesville, TX	3.0	1.0	1100	$1,500	$1.36	93d	1	1.28mi

Listing history 50 events

1. 2026-08-08
   days on market $117,500 Active 157 DOM
2. 2026-08-07
   days on market $117,500 Active 156 DOM
3. 2026-08-06
   days on market $117,500 Active 155 DOM
4. 2026-08-05
   price $117,500 Active 154 DOM
5. 2026-08-05
   days on market $125,000 Active 154 DOM
6. 2026-08-04
   days on market $125,000 Active 153 DOM
7. 2026-08-03
   days on market $125,000 Active 152 DOM
8. 2026-07-31
   days on market $125,000 Active 149 DOM
9. 2026-07-29
   days on market $125,000 Active 147 DOM
10. 2026-07-27
    days on market $125,000 Active 145 DOM
11. 2026-07-25
    days on market $125,000 Active 143 DOM
12. 2026-07-24
    days on market $125,000 Active 142 DOM
13. 2026-07-23
    days on market $125,000 Active 141 DOM
14. 2026-07-22
    days on market $125,000 Active 140 DOM
15. 2026-07-21
    days on market $125,000 Active 139 DOM
16. 2026-07-18
    days on market $125,000 Active 136 DOM
17. 2026-07-17
    days on market $125,000 Active 134 DOM
18. 2026-07-15
    days on market $125,000 Active 133 DOM
19. 2026-07-14
    days on market $125,000 Active 132 DOM
20. 2026-07-13
    days on market $125,000 Active 131 DOM
21. 2026-07-12
    days on market $125,000 Active 130 DOM
22. 2026-07-11
    days on market $125,000 Active 129 DOM
23. 2026-07-11
    days on market $125,000 Active 128 DOM
24. 2026-07-09
    days on market $125,000 Active 127 DOM
25. 2026-07-08
    days on market $125,000 Active 126 DOM
26. 2026-07-07
    days on market $125,000 Active 125 DOM
27. 2026-07-06
    days on market $125,000 Active 124 DOM
28. 2026-07-05
    days on market $125,000 Active 123 DOM
29. 2026-07-04
    days on market $125,000 Active 122 DOM
30. 2026-07-03
    days on market $125,000 Active 121 DOM
31. 2026-07-02
    days on market $125,000 Active 120 DOM
32. 2026-07-01
    days on market $125,000 Active 119 DOM
33. 2026-06-30
    days on market $125,000 Active 118 DOM
34. 2026-06-29
    price $125,000 Active 117 DOM
35. 2026-06-29
    days on market $110,000 Active 117 DOM
36. 2026-06-28
    days on market $110,000 Active 116 DOM
37. 2026-06-27
    days on market $110,000 Active 115 DOM
38. 2026-06-26
    days on market $110,000 Active 113 DOM
39. 2026-06-22
    days on market $110,000 Active 110 DOM
40. 2026-06-19
    days on market $110,000 Active 107 DOM
41. 2026-06-18
    days on market $110,000 Active 106 DOM
42. 2026-06-17
    days on market $110,000 Active 105 DOM
43. 2026-06-16
    days on market $110,000 Active 104 DOM
44. 2026-06-16
    price $110,000 Active 103 DOM
45. 2026-06-15
    days on market $120,000 Active 103 DOM
46. 2026-06-14
    days on market $120,000 Active 101 DOM
47. 2026-06-12
    days on market $120,000 Active 100 DOM
48. 2026-06-09
    days on market $120,000 Active 97 DOM
49. 2026-06-08
    days on market $120,000 Active 96 DOM
50. 2026-06-07
    days on market $120,000 Active 95 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: $2,653 · $221/mo
• Projected year-2 tax: $2,653 · $221/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 · 21 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 17% 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: $19,641
• − Mortgage interest: −$6,582
• − Property taxes: −$2,653
• − Insurance: −$588
• − Repairs & maintenance: −$1,571
• − Management: −$1,571
• − Depreciation: −$3,418
• Taxable income: $3,257
• Est. tax owed @ 24.0%: −$782
• After-tax cash flow: $4,099/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.

Condition & rehab AI · 9 photos

Fair 45/100 Moderate rehab Est. rehab $28,700–$51,660 screening

This 2-bedroom home requires significant exterior repairs and maintenance, but has potential for substantial value increase with updates.

Components & finishes AI

Flooring carpet Appliances white

Deferred maintenance Est. $20,000–$60,000 screening

• Major Roof (roof) — No roof visible in photos
• Major Hvac (hvac) — No HVAC unit visible in photos

Repairs flagged

• Major roof — Significant wear and tear
• Major exterior siding — Worn and peeling
• Major exterior paint — Faded and peeling
• Major porch railings — Faded and worn

Value-add opportunities

• Resale Paint exterior — Fresh paint enhances curb appeal ↑
• Resale Replace roof — New roof improves home's value ↑
• Resale Repair siding — Fresh siding improves home's value ↑
• Resale Paint porch railings — Fresh paint enhances curb appeal ↑
• Both Replace HVAC — Modern HVAC improves comfort and energy efficiency ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 30/100

Zoned Schools

Elementary W E Chalmers El F TX #2,954/4,322 Nat'l #29,575/41,679 Middle Gainesville Int F TX #1,015/1,662 Nat'l #8,646/14,009 High Gainesville H S F TX #1,044/1,632 Nat'l #10,416/17,239

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

C Composite livability gradescore 66/100

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 · 39,965 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: 8% of renters

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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%

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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%

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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

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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

+142.4% since first listed

15 events — show timeline

• 2026-04-24 Price Changed $120,000 NTREIS
• 2026-02-22 Listed $145,000 NTREIS
• 2025-12-31 Listing Removed — NTREIS
• 2025-08-12 Price Changed $145,000 NTREIS
• 2025-08-12 Listing Removed — NTREIS
• 2025-08-08 Listed $140,000 NTREIS
• 2025-08-08 Listed $145,000 NTREIS
• 2011-12-19 Sold (MLS) — NTREIS
• 2011-12-16 Pending — NTREIS
• 2011-12-16 Listed $22,000 NTREIS
• 2011-03-22 Listing Removed — NTREIS
• 2011-01-21 Listed $22,000 NTREIS
• 2002-11-25 Sold (Public Records) — Public Records
• 2002-10-22 Listing Removed — NTREIS
• 2002-04-08 Listed $49,500 NTREIS

Property tax history

+8.8%/yr

Latest (2025): $2,653 · +10.4% YoY. Source: county tax records.