520 Gray St · McLean, TX 79057

$15,000

2 bd · 1.0 ba · 2,242 sqft · SingleFamily · 237 Days on market

Built 1930 8,712 sqft lot ↓ 43% 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Appreciation +5.0/10.0
• Schools +4.6/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

This home is situated on 3 lots and is a corner lot property. Nice storage shop out back! Tons of potential with this one! SELLER FINANCING AVAILABLE!

Key facts

• Corner lot property
• 8,712 sq ft lot
• Built 1930

Tags

• CORNER LOT PROPERTY
• STORAGE SHOP OUT BACK

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $15k.

Deal economics

• At list price, monthly cash flow is $727 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $15k).
• Recommended offer: $13k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#896 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: schools C-, employment D, amenities F.
• Mclean ISD (rural): math 55% / reading 50% proficiency, ranked #297 of 1,141 in TX (top 26%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 14 active listings in the ZIP; 7 units permitted in Gray County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $554 of equity ($104 loan paydown + $450 appreciation (3.0% local appreciation)).
• Gray County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $4k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 237 days — a 12% lower offer ($13k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $10k (40%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $13,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 237 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — 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. 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.
6. 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.
7. 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: 7.01% ✓
• Cap rate: 64.43%
• Cash-on-cash: 207.62%
• DSCR: 10.24
• GRM: 1.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 12.45×
• Total profit: $48,105
• Equity at exit: $6,745

10-year hold

• IRR: —
• Equity multiple: 26.34×
• Total profit: $106,410
• Equity at exit: $10,394

Cash invested: $4,200 (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 79057

• Active inventory: 14
• Price-to-rent: 1.2×

Monthly cashflow live

• Estimated rent: $1,051 medium
• Mortgage (P&I): −$79
• Tax est. 1.5%: −$19 /mo · $225/yr
• Insurance: −$6
• HOA: −$0
• Vacancy / Maint / Mgmt: −$221
• Net cashflow: $727

Break-even live

Break-even rent $131

Max offer price $15,000

Occupancy floor 26%

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: $3,750
• Closing costs: $450
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-18
   days on market $15,000 Active 237 DOM
2. 2026-06-17
   days on market $15,000 Active 236 DOM
3. 2026-06-16
   days on market $15,000 Active 235 DOM
4. 2026-06-15
   days on market $15,000 Active 234 DOM
5. 2026-06-15
   days on market $15,000 Active 233 DOM
6. 2026-06-13
   days on market $15,000 Active 232 DOM
7. 2026-06-12
   days on market $15,000 Active 231 DOM
8. 2026-06-10
   days on market $15,000 Active 228 DOM
9. 2026-06-08
   days on market $15,000 Active 227 DOM
10. 2026-06-08
    days on market $15,000 Active 226 DOM
11. 2026-06-05
    days on market $15,000 Active 224 DOM
12. 2026-06-03
    days on market $15,000 Active 222 DOM
13. 2026-06-02
    pricedays on market $15,000 Active 221 DOM
14. 2026-06-01
    days on market $20,000 Active 220 DOM
15. 2026-05-31
    days on market $20,000 Active 219 DOM
16. 2025-12-01
    price $20,000 150-char remark

    Show marketing remark (150 chars)

    This home is situated on 3 lots and is a corner lot property. Nice storage shop out back! Tons of potential with this one! SELLER FINANCING AVAILABLE!

17. 2025-12-01
    price $20,000 150-char remark

    Show marketing remark (150 chars)

    This home is situated on 3 lots and is a corner lot property. Nice storage shop out back! Tons of potential with this one! SELLER FINANCING AVAILABLE!

18. 2025-10-24
    listed $25,000 Active 150-char remark

    Show marketing remark (150 chars)

    This home is situated on 3 lots and is a corner lot property. Nice storage shop out back! Tons of potential with this one! SELLER FINANCING AVAILABLE!

19. 2025-10-23
    listed $25,000 Active 150-char remark

    Show marketing remark (150 chars)

    This home is situated on 3 lots and is a corner lot property. Nice storage shop out back! Tons of potential with this one! SELLER FINANCING AVAILABLE!

20. 2025-09-08
    price $25,000
21. 2025-09-08
    price $25,000
22. 2025-09-05
    listed $30,000 Active
23. 2025-04-10
    price $30,000
24. 2025-04-10
    price $30,000
25. 2025-02-22
    listed $35,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 5/10 Major 7 d/yr ≥100°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $12,613
• − Mortgage interest: −$840
• − Property taxes: −$225
• − Insurance: −$75
• − Repairs & maintenance: −$1,009
• − Management: −$1,009
• − Depreciation: −$436
• Taxable income: $9,018
• Est. tax owed @ 24.0%: −$2,164
• After-tax cash flow: $6,556/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: Mclean ISD
• NCES district ID: 4829880
• Math proficiency: 55% ▬ 0.00%
• Reading proficiency: 50% ▲ 5.00%
• Median HH income: $42,711
• Composite: 46.09/100
• National rank: #5480
• State rank: #297 of 1141 in TX

Livability — McLean

• Score: 63/100
• State rank: #896
• US rank: #16067

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: McLean, TX
• Population (ZIP): 1,075

Population outlook (Gray County) Hauer SSP2

• Today (2025): 24,965 people
• By 2030: 26,105 · +4.6%
• By 2040: 28,752 · +15.2%
• By 2050: 31,859 · +27.6%
• By 2075: 39,812 · +59.5%
• By 2100: 43,284 · +73.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Hispanic / Latino 16% Two or more races 9% Native American 3%
• Hispanic origin (detail): Mexican 16%
• Common ancestry: Iranian 19% Slovak 1% Romanian 1%
• Foreign-born: 7% · Canada
• Languages at home: 85% English-only · Spanish 15%

Political lean MEDSL · Gray

• 2024 margin: Solid R (+77.1) · D 11.2% · R 88.3%
• 2008→2024 swing: -6.2pp toward R · 2008: -71.0pp · 2024: -77.1pp
• All cycles: 2024: R+77.1 2020: R+77.2 2016: R+78.8 2012: R+75.2 2008: R+71.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

-42.9% since first listed

10 events — show timeline

• 2025-12-01 Price Changed $20,000 PBOR
• 2025-12-01 Price Changed $20,000 AARMLS
• 2025-10-24 Listed $25,000 AARMLS
• 2025-10-23 Listed $25,000 PBOR
• 2025-09-08 Price Changed $25,000 PBOR
• 2025-09-08 Price Changed $25,000 AARMLS
• 2025-09-05 Listed $30,000 PBOR
• 2025-04-10 Price Changed $30,000 PBOR
• 2025-04-10 Price Changed $30,000 AARMLS
• 2025-02-22 Listed $35,000 PBOR