1013 E Tennie St · Gainesville, TX 76240

$75,000

2 bd · 2.0 ba · 936 sqft · SingleFamily public records · 6 Days on market

Built 1920 0.26 ac lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Needs TLC, priced accordingly. Great fix-and-flip or rental hold. Seller has 6 more properties available; package deals welcome. Motivated seller. AS-IS sale. Act fast.

Key facts

• 0.26 acre lot
• Parking
• Built 1920

Property features AI

Finance

• Financial info: Listing accepts Cash and Conventional financing; Second mortgage: none indicated
• HOA & community: No association

Exterior

• Parking: Carport (1 covered/carport space)
• Utilities: City water; City sewer; Not in a municipal utility district
• Home design: Single family residence; Residential property; Not attached to another unit
• Construction: Built in 1920; Wood construction; Composition roof; Pillar/Post/Pier foundation
• Exterior features: Covered front porch; Other exterior features; No fencing; Utilities easement on the property; Lot under 0.5 acre

Interior

• Kitchen: No appliances included
• Bedrooms: 2 bedrooms (both on the main level)
• Flooring: Hardwood flooring; Laminate flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: No heating; No cooling
• Interior features: One level home; 4 total rooms; 1 living area; 1 dining area; Other interior features
• Laundry & utility: No built-in laundry appliances listed

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $511 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Cap rate 14.5% 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: 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: Edison El (683 students, 81% FRL).
• Market conditions: 462 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 $519 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1920 — 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 $75,000

Questions for the listing agent

1. Built in 1920 — 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: 1.81% ✓
• Cap rate: 14.47%
• Cash-on-cash: 29.22%
• DSCR: 2.30
• GRM: 4.6

CMA / ARV

• ARV (on-the-fly): $173,160
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1013 E Tennie St	0.00mi	2/1.0	936 (0%)	1mo	$75,000	$80	95
607 S Taylor St	0.06mi	2/1.0	863 (-8%)	9mo	$163,000	$189	73
1209 E Garnett St	0.17mi	2/1.0	1,058 (+13%)	11mo	$180,000	$170	57
1507 E Tennie St	0.38mi	2/1.0	816 (-13%)	3mo	$90,000	$110	54
318 Cunningham St	0.59mi	2/1.0	884 (-6%)	9mo	$140,000	$158	52
1512 Patricia Dr	0.71mi	2/1.0	978 (+4%)	11mo	$185,000	$189	47
538 S Dixon St	0.56mi	2/1.0	1,016 (+8%)	11mo	$100,000	$98	46
905 Kent Dr	0.63mi	2/1.0	967 (+3%)	21mo	$179,000	$185	44
605 S Howeth St	0.42mi	2/1.0	832 (-11%)	22mo	$125,000	$150	39
907 S Dixon St S	0.64mi	2/1.0	1,048 (+12%)	11mo	$194,000	$185	37
213 W Tennie St	0.67mi	2/1.0	1,064 (+14%)	11mo	$200,000	$188	32
1502 Patricia Dr	0.67mi	3/1.5 (+1)	1,055 (+13%)	24mo	$207,000	$196	21

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: 23.7%
• Equity multiple: 1.97×
• Total profit: $20,462
• Equity at exit: $11,183

10-year hold

• IRR: 31.6%
• Equity multiple: 3.85×
• Total profit: $59,944
• Equity at exit: $6,485

Cash invested: $21,000 (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 76240

• Active inventory: 462
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $1,357 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$136 /mo · $1,634/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$285
• Net cashflow: $511

Break-even live

Break-even rent $710

Max offer price $75,000

Occupancy floor 57%

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: $18,750
• Closing costs: $2,250
• 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	43d	1	0.98mi

Listing history 4 events

1. 2026-04-29
   status Pending
2. 2026-04-23
   listed $75,000 Active
3. 2008-01-30
   soldstatus
4. 2001-05-08
   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: $1,634 · $136/mo
• Projected year-2 tax: $1,634 · $136/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 18% 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: $16,284
• − Mortgage interest: −$4,201
• − Property taxes: −$1,634
• − Insurance: −$375
• − Repairs & maintenance: −$1,303
• − Management: −$1,303
• − Depreciation: −$2,182
• Taxable income: $5,287
• Est. tax owed @ 24.0%: −$1,269
• After-tax cash flow: $4,867/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 events — show timeline

• 2026-04-29 Pending — NTREIS
• 2026-04-23 Listed $75,000 NTREIS
• 2008-01-30 Sold (Public Records) — Public Records
• 2001-05-08 Sold (Public Records) — Public Records

Property tax history

+6.2%/yr

Latest (2025): $1,634 · +10.5% YoY. Source: county tax records.