1805 Mill St · Gainesville, TX 76240

$99,750

2 bd · 2.0 ba · 746 sqft · SingleFamily public records · 52 Days on market

Built 1949 8,407 sqft lot $134/sqft · 18% below area Est $122k · 18% 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 +25.7/30.0
• ARV discount +15.0/15.0
• DSCR +8.5/10.0
• 1% rule +7.3/10.0
• 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

Buyer or Buyer's agent to verify all information

Key facts

• 8,407 sq ft lot
• Garage
• Built 1949

Property features AI

Finance

• Other: Possession at closing/funding; Listing status: Active
• Financial info: Listing terms: Cash or Conventional
• HOA & community: No homeowners association

Exterior

• Parking: Attached 1-car garage; Covered parking for 1 vehicle; Driveway
• Utilities: City water; City sewer; No municipal utility district
• Home design: Single family residence; Residential property; Built in 1949; One story; Not attached to another property
• Construction: Siding construction; Year built 1949
• Exterior features: Siding exterior; Lot under 0.5 acre; Subdivision: Berend; Directions: Use your favorite GPS

Interior

• Kitchen: Electric range
• Bedrooms: 2 bedrooms (both on the main level)
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Ceiling fans; Window air unit(s)
• Interior features: Natural woodwork; One living area; One dining area; 5 total rooms; One-level layout
• Laundry & utility: No specific laundry details provided

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $238 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $97k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.2% 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: 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) — zoned schools at 67% FRL track the district average.
• Market conditions: 462 active listings in the ZIP; 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 $690 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y ago; this cycle's ask has dropped $10k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $96,757 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.23% ✓
• Cap rate: 9.15%
• Cash-on-cash: 10.22%
• DSCR: 1.45
• GRM: 6.8

CMA / ARV

• ARV (median comp): $121,526
• List price: $99,750
• Delta: -17.92%
• Verdict: UNDERPRICED
• Comps: 19 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1707 N Weaver St	0.19mi	2/1.0	672 (-10%)	10mo	$100,000	$149	63
1804 Throckmorton St	0.15mi	2/1.0	816 (+9%)	20mo	$185,000	$227	57
714 Harvey St	0.54mi	2/1.0	784 (+5%)	17mo	$99,900	$127	49
1108 Hancock St	0.51mi	2/1.0	816 (+9%)	18mo	$134,995	$165	42

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: -0.9%
• Equity multiple: 0.97×
• Total profit: $-975
• Equity at exit: $14,873

10-year hold

• IRR: 8.8%
• Equity multiple: 1.67×
• Total profit: $18,826
• Equity at exit: $8,625

Cash invested: $27,930 (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: 6.8×

Monthly cashflow live

• Estimated rent: $1,222 medium
• Mortgage (P&I): −$523
• Tax from tax record: −$163 /mo · $1,956/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$257
• Net cashflow: $238

Break-even live

Break-even rent $921

Max offer price $99,750

Occupancy floor 76%

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: $24,938
• Closing costs: $2,992
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-19
   days on market $99,750 Active 52 DOM
2. 2026-06-18
   days on market $99,750 Active 51 DOM
3. 2026-06-17
   days on market $99,750 Active 50 DOM
4. 2026-06-16
   days on market $99,750 Active 49 DOM
5. 2026-06-15
   days on market $99,750 Active 48 DOM
6. 2026-06-14
   days on market $99,750 Active 46 DOM
7. 2026-06-13
   remarks 107-char remark
8. 2026-06-13
   price $99,750 Active 45 DOM
9. 2026-06-12
   days on market $99,900 Active 45 DOM
10. 2026-06-09
    days on market $99,900 Active 42 DOM
11. 2026-06-08
    days on market $99,900 Active 41 DOM
12. 2026-06-07
    days on market $99,900 Active 40 DOM
13. 2026-06-05
    days on market $99,900 Active 37 DOM
14. 2026-06-03
    days on market $99,900 Active 36 DOM
15. 2026-06-02
    days on market $99,900 Active 35 DOM
16. 2026-06-01
    days on market $99,900 Active 34 DOM
17. 2026-05-31
    days on market $99,900 Active 33 DOM
18. 2026-05-30
    days on market $99,900 Active 32 DOM
19. 2026-05-16
    price $99,900 83-char remark
20. 2026-04-28
    listed $110,000 Active 83-char remark
21. 2025-11-15
    historical $1,100
22. 2025-10-26
    listed $1,100
23. 2021-10-01
    soldstatus
24. 2021-09-29
    soldstatus Sold 48-char remark

    Show marketing remark (48 chars)

    Buyer or Buyer's agent to verify all information

25. 2021-08-09
    historical Active Contingent 48-char remark

    Show marketing remark (48 chars)

    Buyer or Buyer's agent to verify all information

26. 2021-07-11
    listed $82,000 Active 48-char remark

    Show marketing remark (48 chars)

    Buyer or Buyer's agent to verify all information

ⓘ 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: $1,956 · $163/mo
• Projected year-2 tax: $1,956 · $163/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 7/10 Severe 7 d/yr ≥110°F today · 22 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 16% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,665
• − Mortgage interest: −$5,588
• − Property taxes: −$1,956
• − Insurance: −$499
• − Repairs & maintenance: −$1,173
• − Management: −$1,173
• − Depreciation: −$2,902
• Taxable income: $1,375
• Est. tax owed @ 24.0%: −$330
• After-tax cash flow: $2,524/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

+21.6% since first listed

9 events — show timeline

• 2026-06-12 Price Changed $99,750 NTREIS
• 2026-05-16 Price Changed $99,900 NTREIS
• 2026-04-28 Listed $110,000 NTREIS
• 2025-11-15 Rental Removed $1,100 NTREIS
• 2025-10-26 Listed for Rent $1,100 NTREIS
• 2021-10-01 Sold (Public Records) — Public Records
• 2021-09-29 Sold (MLS) — NTREIS
• 2021-08-09 Contingent — NTREIS
• 2021-07-11 Listed $82,000 NTREIS

Property tax history

+7.5%/yr

Latest (2025): $1,956 · +10.4% YoY. Source: county tax records.