215 Bell St · Gainesville, TX 76240

$110,000

2 bd · 1.0 ba · 1,148 sqft · SingleFamily public records · 107 Days on market

Built 1935 8,886 sqft lot $96/sqft · 43% below area Est $192k · 43% 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
• DSCR +10.0/10.0
• 1% rule +9.9/10.0
• 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 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 $110k.

Deal economics

• At list price, monthly cash flow is $449 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Recommended offer: $100k (9.0% below list) — sets the bar for market timing.
• Cap rate 11.2% 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; 5 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $761 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 $31k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 107 days — a 9% lower offer ($100k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 24y ago; this cycle's ask has dropped $35k (24%) 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 $100,100 (9.0% below list)

Questions for the listing agent

1. It's been on market 107 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.49% ✓
• Cap rate: 11.19%
• Cash-on-cash: 17.50%
• DSCR: 1.78
• GRM: 5.6

CMA / ARV

• ARV (median comp): $191,506
• List price: $110,000
• Delta: -42.56%
• 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%)	11mo	$200,000	$188	69
538 S Dixon St	0.08mi	2/1.0	1,016 (-12%)	11mo	$100,000	$98	68
907 S Dixon St S	0.26mi	2/1.0	1,048 (-9%)	11mo	$194,000	$185	64
527 N Dixon St N	0.69mi	2/1.0	1,136 (-1%)	12mo	$120,000	$106	56
531 N Dixon St N	0.69mi	2/1.0	1,136 (-1%)	12mo	$99,500	$88	56
932 Moss St	0.57mi	3/1.5 (+1)	1,224 (+7%)	1mo	$120,000	$98	55
333 N Red River St	0.52mi	2/1.0	1,288 (+12%)	9mo	$232,550	$181	48
315 N Morris St	0.72mi	3/2.0 (+1)	1,200 (+4%)	2mo	$199,800	$167	48
1005 S Clements St	0.71mi	3/2.0 (+1)	1,180 (+3%)	6mo	$180,000	$153	48
1209 E Garnett St	0.63mi	2/1.0	1,058 (-8%)	11mo	$180,000	$170	48
415 2nd St	0.58mi	3/2.0 (+1)	1,232 (+7%)	12mo	$115,000	$93	42
527 N Chestnut St	0.71mi	3/2.0 (+1)	1,284 (+12%)	4mo	$239,500	$187	35

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: 9.0%
• Equity multiple: 1.35×
• Total profit: $10,863
• Equity at exit: $16,401

10-year hold

• IRR: 18.2%
• Equity multiple: 2.51×
• Total profit: $46,610
• Equity at exit: $9,511

Cash invested: $30,800 (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: $1,637 high
• Mortgage (P&I): −$577
• Tax from tax record: −$221 /mo · $2,653/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$344
• Net cashflow: $449

Break-even live

Break-even rent $1,068

Max offer price $110,000

Occupancy floor 68%

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: $27,500
• Closing costs: $3,300
• 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	43d	1	0.58mi
1331 Lanius St Gainesville, TX	3.0	2.0	1300	$1,850	$1.42	43d	1	0.76mi
923 S Wine St Gainesville, TX	3.0	1.0	1216	$1,550	$1.27	43d	1	0.78mi
426 N Clements St Gainesville, TX	3.0	2.0	1408	$2,307	$1.64	43d	1	0.93mi
1610 Elizabeth St Gainesville, TX	3.0	1.0	1100	$1,500	$1.36	43d	1	1.28mi

Listing history 32 events

1. 2026-06-19
   days on market $110,000 Active 107 DOM
2. 2026-06-18
   days on market $110,000 Active 106 DOM
3. 2026-06-17
   days on market $110,000 Active 105 DOM
4. 2026-06-16
   days on market $110,000 Active 104 DOM
5. 2026-06-16
   price $110,000 Active 103 DOM
6. 2026-06-15
   days on market $120,000 Active 103 DOM
7. 2026-06-14
   days on market $120,000 Active 101 DOM
8. 2026-06-12
   days on market $120,000 Active 100 DOM
9. 2026-06-09
   days on market $120,000 Active 97 DOM
10. 2026-06-08
    days on market $120,000 Active 96 DOM
11. 2026-06-07
    days on market $120,000 Active 95 DOM
12. 2026-06-05
    days on market $120,000 Active 92 DOM
13. 2026-06-03
    days on market $120,000 Active 91 DOM
14. 2026-06-02
    days on market $120,000 Active 90 DOM
15. 2026-06-01
    days on market $120,000 Active 89 DOM
16. 2026-05-31
    days on market $120,000 Active 88 DOM
17. 2026-05-30
    days on market $120,000 Active 87 DOM
18. 2026-04-24
    price $120,000 498-char remark

    Show marketing remark (498 chars)

    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.

19. 2026-02-22
    listed $145,000 Active 498-char remark

    Show marketing remark (498 chars)

    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.

20. 2025-12-31
    historical
21. 2025-08-12
    price $145,000
22. 2025-08-12
    historical
23. 2025-08-08
    listed $145,000 Active
24. 2025-08-08
    listed $140,000 Active
25. 2011-12-19
    soldstatus Closed
26. 2011-12-16
    status Pending
27. 2011-12-16
    listed $22,000 Active
28. 2011-03-22
    historical
29. 2011-01-21
    listed $22,000 Active
30. 2002-11-25
    soldstatus
31. 2002-10-22
    historical
32. 2002-04-08
    listed $49,500

ⓘ 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: −$6,162
• − Property taxes: −$2,653
• − Insurance: −$550
• − Repairs & maintenance: −$1,571
• − Management: −$1,571
• − Depreciation: −$3,200
• Taxable income: $3,933
• Est. tax owed @ 24.0%: −$944
• After-tax cash flow: $4,447/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

+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.