215 Bell St · Gainesville, TX 76240

$117,500

2 bd · 1.0 ba · 1,148 sqft · SingleFamily public records · 203 Days on market

Built 1935 Fair condition 8,886 sqft lot $102/sqft · 39% below area Est $193k · 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 +26.2/30.0
• ARV discount +15.0/15.0
• DSCR +8.9/10.0
• 1% rule +7.8/10.0
• 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 $300 ($4k/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 9.4% vs local median 3.1% 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: 601 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); 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 ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 203 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 203 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: 1.28% ✓
• Cap rate: 9.36%
• Cash-on-cash: 10.96%
• DSCR: 1.49
• GRM: 6.5

CMA / ARV

• ARV (median comp): $193,363
• List price: $117,500
• Delta: -39.23%
• 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%)	14mo	$200,000	$188	67
538 S Dixon St	0.08mi	2/1.0	1,016 (-12%)	14mo	$100,000	$98	65
907 S Dixon St S	0.26mi	2/1.0	1,048 (-9%)	14mo	$194,000	$185	62
1006 S Grand Ave	0.67mi	2/1.0	1,088 (-5%)	2mo	$159,000	$146	58
527 N Dixon St N	0.69mi	2/1.0	1,136 (-1%)	16mo	$120,000	$106	53
531 N Dixon St N	0.69mi	2/1.0	1,136 (-1%)	16mo	$99,500	$88	53
932 Moss St	0.57mi	3/1.5 (+1)	1,224 (+7%)	4mo	$120,000	$98	52
333 N Red River St	0.52mi	2/1.0	1,288 (+12%)	12mo	$232,550	$181	46
315 N Morris St	0.72mi	3/2.0 (+1)	1,200 (+4%)	5mo	$199,800	$167	46
1005 S Clements St	0.71mi	3/2.0 (+1)	1,180 (+3%)	9mo	$180,000	$153	46
1209 E Garnett St	0.63mi	2/1.0	1,058 (-8%)	14mo	$180,000	$170	46
527 N Chestnut St	0.71mi	3/2.0 (+1)	1,284 (+12%)	7mo	$239,500	$187	33

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: 0.1%
• Equity multiple: 1.01×
• Total profit: $166
• Equity at exit: $17,520

10-year hold

• IRR: 9.8%
• Equity multiple: 1.76×
• Total profit: $25,064
• 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 · 7 under contract
• Months of supply: 9.4 mo (11%/mo absorbed)
• Median asking: $173,000 ($141/sqft)
• Median days on market: 77 d
• This list price: 18% of active listings are priced below it
• ARV vs active asking: +19.8% 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: 601
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,502 high
• Mortgage (P&I): −$616
• Tax from tax record: −$221 /mo · $2,653/yr
• Insurance: −$49
• HOA: −$0
• Vacancy / Maint / Mgmt: −$315
• Net cashflow: $300

Break-even live

Break-even rent $1,122

Max offer price $117,500

Occupancy floor 75%

Sensitivity live

Price	-10% $367	-5% $334	+0% $300	+5% $267	+10% $234
Rent	-10% $182	-5% $241	+0% $300	+5% $360	+10% $419
Rate	-1.0pp $360	-0.5pp $330	base $300	+0.5pp $270	+1.0pp $239

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 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
400 Blackwood St #402 Gainesville, TX	3.0	1.0	936	$1,325	$1.42	1d	1	0.58mi
1010 E Main St Gainesville, TX	3.0	1.0	1263	$1,550	$1.23	139d	1	0.58mi
1331 Lanius St Gainesville, TX	3.0	2.0	1300	$1,850	$1.42	139d	1	0.76mi
923 S Wine St Gainesville, TX	3.0	1.0	1216	$1,550	$1.27	139d	1	0.78mi
914 Locust St Gainesville, TX	3.0	2.0	1050	$1,549	$1.48	5d	1	0.88mi
703 Mill St Gainesville, TX	3.0	1.0	936	$1,500	$1.60	1d	1	0.90mi
1012 Faye St Gainesville, TX	2.0	1.0	778	$1,200	$1.54	1d	1	0.91mi
426 N Clements St Gainesville, TX	3.0	2.0	1408	$2,307	$1.64	139d	1	0.93mi
1217 S Howeth St Gainesville, TX	3.0	2.0	1078	$1,500	$1.39	5d	1	0.98mi
315 Andrews St Unit A Gainesville, TX	1.0	1.0	700	$1,100	$1.57	1d	1	1.07mi
306 Harvey St Gainesville, TX	3.0	1.0	1200	$1,250	$1.04	5d	1	1.10mi
1011 Kent Dr Gainesville, TX	3.0	2.0	1198	$1,150	$0.96	5d	1	1.15mi
1506 Elizabeth St Gainesville, TX	2.0	1.0	1024	$1,650	$1.61	5d	1	1.24mi
1610 Elizabeth St Gainesville, TX	3.0	1.0	1100	$1,500	$1.36	139d	1	1.28mi
1007 N Howeth St Gainesville, TX	3.0	2.0	1186	$1,625	$1.37	5d	1	1.42mi

Listing history 50 events

1. 2026-09-23
   days on market $117,500 Active 203 DOM
2. 2026-09-20
   days on market $117,500 Active 200 DOM
3. 2026-09-18
   days on market $117,500 Active 198 DOM
4. 2026-09-17
   days on market $117,500 Active 197 DOM
5. 2026-09-16
   days on market $117,500 Active 196 DOM
6. 2026-09-15
   days on market $117,500 Active 195 DOM
7. 2026-09-14
   days on market $117,500 Active 194 DOM
8. 2026-09-13
   days on market $117,500 Active 193 DOM
9. 2026-09-12
   days on market $117,500 Active 192 DOM
10. 2026-09-11
    days on market $117,500 Active 191 DOM
11. 2026-09-05
    days on market $117,500 Active 185 DOM
12. 2026-09-04
    days on market $117,500 Active 184 DOM
13. 2026-09-03
    days on market $117,500 Active 183 DOM
14. 2026-09-02
    days on market $117,500 Active 182 DOM
15. 2026-08-30
    days on market $117,500 Active 179 DOM
16. 2026-08-29
    days on market $117,500 Active 178 DOM
17. 2026-08-28
    days on market $117,500 Active 177 DOM
18. 2026-08-27
    days on market $117,500 Active 176 DOM
19. 2026-08-26
    days on market $117,500 Active 175 DOM
20. 2026-08-25
    days on market $117,500 Active 174 DOM
21. 2026-08-24
    days on market $117,500 Active 173 DOM
22. 2026-08-23
    days on market $117,500 Active 172 DOM
23. 2026-08-22
    days on market $117,500 Active 171 DOM
24. 2026-08-21
    days on market $117,500 Active 170 DOM
25. 2026-08-20
    days on market $117,500 Active 169 DOM
26. 2026-08-19
    days on market $117,500 Active 168 DOM
27. 2026-08-18
    days on market $117,500 Active 167 DOM
28. 2026-08-17
    days on market $117,500 Active 166 DOM
29. 2026-08-16
    days on market $117,500 Active 165 DOM
30. 2026-08-15
    days on market $117,500 Active 164 DOM
31. 2026-08-14
    days on market $117,500 Active 163 DOM
32. 2026-08-13
    days on market $117,500 Active 162 DOM
33. 2026-08-12
    days on market $117,500 Active 161 DOM
34. 2026-08-11
    days on market $117,500 Active 160 DOM
35. 2026-08-10
    days on market $117,500 Active 159 DOM
36. 2026-08-09
    days on market $117,500 Active 158 DOM
37. 2026-08-08
    days on market $117,500 Active 157 DOM
38. 2026-08-07
    days on market $117,500 Active 156 DOM
39. 2026-08-06
    days on market $117,500 Active 155 DOM
40. 2026-08-05
    price $117,500 Active 154 DOM
41. 2026-08-05
    days on market $125,000 Active 154 DOM
42. 2026-08-04
    days on market $125,000 Active 153 DOM
43. 2026-08-03
    days on market $125,000 Active 152 DOM
44. 2026-07-31
    days on market $125,000 Active 149 DOM
45. 2026-07-29
    days on market $125,000 Active 147 DOM
46. 2026-07-27
    days on market $125,000 Active 145 DOM
47. 2026-07-25
    days on market $125,000 Active 143 DOM
48. 2026-07-24
    days on market $125,000 Active 142 DOM
49. 2026-07-23
    days on market $125,000 Active 141 DOM
50. 2026-07-22
    days on market $125,000 Active 140 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: $18,026
• − Mortgage interest: −$6,582
• − Property taxes: −$2,653
• − Insurance: −$588
• − Repairs & maintenance: −$1,442
• − Management: −$1,442
• − Depreciation: −$3,418
• Taxable income: $1,901
• Est. tax owed @ 24.0%: −$456
• After-tax cash flow: $3,149/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.