312 N Richardson St · Grand Saline, TX 75140

$189,500

4 bd · 2.0 ba · 1,008 sqft · SingleFamily public records · 44 Days on market

Built 2006 0.29 ac lot

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Why this score? — see what drove the D- 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).

• ARV discount +7.5/15.0
• Cash flow +7.2/30.0
• Appreciation +6.3/10.0
• 1% rule +3.2/10.0
• Livability +3.2/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.4/10.0

Listing remarks MLS

Very attractive home seller's had constructed for them on a large corner lot just west of downtown Grand Saline. Exterior is concrete based siding with an inviting covered front porch for relaxing. Inside you will find a large open concept living and kitchen area which flows into additional dining or family-office space. Kitchen has center island for cooking and serving casual meals. Stainless appliances & glass tile give the space contemporary style. Split bedroom design. Mstr is good size with en suite featuring updated marble vanity, Jacuzzi tub, walkin closet and ceramic tile surround & flooring. Guest bath on other end of home has lg. walkin in shower with attractive tile. Outstanding outdoor covered decks for entertaining and relaxing in the shade with privacy fenced yard. Outdoor kitchen equipment does not convey.

Key facts

• Open floor plan
• Storm shelter
• Large covered deck

Tags

• OPEN FLOOR PLAN
• LARGE COVERED DECK
• FENCED BACKYARD
• STORM SHELTER

Property features AI

Finance

• Other: Lot is approximately 0.292 acre (less than 0.5 acre); Subdivision: Shangrila Heights; County: Van Zandt
• Financial info: Listing accepts Cash, Conventional, and FHA financing
• HOA & community: No homeowners association

Exterior

• Parking: On-street parking; Outside parking
• Security: Fire alarm
• Utilities: City water; City sewer; Asphalt access
• Home design: Single-family residence; One story; Property attached: Yes
• Construction: Built in 2006; Fiber cement construction
• Exterior features: Covered deck; Covered porch(es); Storm cellar; Back yard with wood fencing

Interior

• Kitchen: Dishwasher; Electric oven
• Bedrooms: 4 bedrooms (all on the main level); Primary bedroom with walk-in closet; Another bedroom with walk-in closet
• Flooring: Carpet
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air (electric); Ceiling fan(s)
• Interior features: Cable TV available; High-speed internet available; Eat-in kitchen; Kitchen island; Open floorplan; Pantry
• Laundry & utility: No specific laundry details provided

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $-262 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $143k (24.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $155k (18.2% below list).
• Recommended offer: $143k (24.4% below list) — sets the bar for cash-flow.
• Cap rate 4.6% vs local median 2.9% in Grand Saline — 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 64/100 on livability (#800 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: amenities F, commute F, employment F.
• Grand Saline ISD (town): math 38% / reading 33% proficiency, ranked #520 of 826 in TX (top 63%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Grand Saline El (308 students, 68% FRL); Grand Saline Middle (math 37% / reading 32%, grade F, #858 of 1,662 statewide, top 54%, 273 students, 59% FRL); Grand Saline H S (math 37% / reading 37%, grade F, #897 of 1,632 statewide, top 57%, 341 students, 51% FRL).
• Market conditions: 147 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; 54 units permitted in Van Zandt County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($1k loan paydown + $5k appreciation (2.7% local appreciation)).
• Van Zandt County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 6, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 44 days — a 3% lower offer ($184k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 10y ago; this cycle's ask has dropped $10k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price.
• Climate carrying-cost: major wind risk, 47% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $143,280 (24.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.82% ✗
• Cap rate: 4.64%
• Cash-on-cash: -5.92%
• DSCR: 0.74
• GRM: 10.2

CMA / ARV

• ARV (on-the-fly): $95,760
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
408 N Waldrip St	0.15mi	3/1.0 (-1)	1,066 (+6%)	9mo	$89,900	$84	67
701 W Frank St	0.40mi	3/1.0 (-1)	1,057 (+5%)	20mo	$99,900	$95	48
426 S Washington St	0.59mi	3/2.0 (-1)	1,128 (+12%)	18mo	$169,900	$151	32

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

2.69% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 1.1%
• Equity multiple: 1.06×
• Total profit: $3,222
• Equity at exit: $81,937

10-year hold

• IRR: 4.9%
• Equity multiple: 1.73×
• Total profit: $38,903
• Equity at exit: $123,789

Cash invested: $53,060 (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 75140

• Home prices YoY: 1.3%
• Active inventory: 147
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $1,550 medium
• Mortgage (P&I): −$994
• Tax from tax record: −$413 /mo · $4,961/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$326
• Net cashflow: $-262

Break-even live

Break-even rent $1,881

Max offer price $143,280

Occupancy floor —

Sensitivity live

Price	-10% $-154	-5% $-208	+0% $-262	+5% $-315	+10% $-369
Rent	-10% $-384	-5% $-323	+0% $-262	+5% $-200	+10% $-139
Rate	-1.0pp $-166	-0.5pp $-213	base $-262	+0.5pp $-311	+1.0pp $-361

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: $47,375
• Closing costs: $5,685
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1610 W Frank St Grand Saline, TX	3.0	1.0	1288	$1,765	$1.37	45d	1	0.27mi
605 W Hill St Grand Saline, TX	3.0	1.5	1032	$1,275	$1.24	15d	1	0.45mi
1024 N Spring St Grand Saline, TX	3.0	2.0	1453	$1,500	$1.03	45d	1	0.95mi

Listing history 13 events

1. 2026-05-10
   status Pending
2. 2026-05-01
   historical Active Option Contract
3. 2026-04-16
   price $189,500
4. 2026-03-27
   listed $199,500 Active
5. 2026-02-12
   historical
6. 2025-11-24
   price $199,000
7. 2025-09-19
   price $209,000
8. 2025-08-11
   price $214,000
9. 2025-02-19
   listed $219,500 Active
10. 2016-11-03
    soldstatus 845-char remark

    Show marketing remark (845 chars)

    Very attractive home seller's had constructed for them on a large corner lot just west of downtown Grand Saline. Exterior is concrete based siding with an inviting covered front porch for relaxing. Inside you will find a large open concept living and kitchen area which flows into additional dining or family-office space. Kitchen has center island for cooking and serving casual meals. Stainless appliances & glass tile give the space contemporary style. Split bedroom design. Mstr is good size with en suite featuring updated marble vanity, Jacuzzi tub, walkin closet and ceramic tile surround & flooring. Guest bath on other end of home has lg. walkin in shower with attractive tile. Outstanding outdoor covered decks for entertaining and relaxing in the shade with privacy fenced yard. Outdoor kitchen equipment does not convey.

11. 2016-11-02
    soldstatus
12. 2016-09-23
    listed $99,890 845-char remark

    Show marketing remark (845 chars)

    Very attractive home seller's had constructed for them on a large corner lot just west of downtown Grand Saline. Exterior is concrete based siding with an inviting covered front porch for relaxing. Inside you will find a large open concept living and kitchen area which flows into additional dining or family-office space. Kitchen has center island for cooking and serving casual meals. Stainless appliances & glass tile give the space contemporary style. Split bedroom design. Mstr is good size with en suite featuring updated marble vanity, Jacuzzi tub, walkin closet and ceramic tile surround & flooring. Guest bath on other end of home has lg. walkin in shower with attractive tile. Outstanding outdoor covered decks for entertaining and relaxing in the shade with privacy fenced yard. Outdoor kitchen equipment does not convey.

13. 2008-05-22
    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: $4,961 · $413/mo
• Projected year-2 tax: $4,961 · $413/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 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥110°F today · 25 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 47% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,600
• − Mortgage interest: −$10,615
• − Property taxes: −$4,961
• − Insurance: −$948
• − Repairs & maintenance: −$1,488
• − Management: −$1,488
• − Depreciation: −$5,513
• Taxable loss: −$6,412
• Est. tax savings @ 24.0%: +$1,539
• After-tax cash flow: $-1,601/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: Grand Saline ISD
• NCES district ID: 4821450
• Math proficiency: 38% ▼ -2.00%
• Reading proficiency: 33% ▼ -7.00%
• Median HH income: $41,621
• Composite: 29.99/100
• National rank: #6365
• State rank: #520 of 826 in TX

Livability — Grand Saline

• Score: 64/100
• State rank: #800
• US rank: #14580

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Grand Saline, TX
• Population (ZIP): 8,596

Population outlook (Van Zandt County) Hauer SSP2

• Today (2025): 55,634 people
• By 2030: 56,479 · +1.5%
• By 2040: 57,672 · +3.7%
• By 2050: 57,913 · +4.1%
• By 2075: 57,544 · +3.4%
• By 2100: 52,659 · -5.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Hispanic / Latino 28% Two or more races 9%
• Hispanic origin (detail): Mexican 27%
• Common ancestry: Slovak 2% Serbian 1% Italian 1%
• Foreign-born: 13% · Canada
• Languages at home: 75% English-only · Spanish 25%

Political lean MEDSL · Van Zandt

• 2024 margin: Solid R (+74.8) · D 12.3% · R 87.2%
• 2008→2024 swing: -19.8pp toward R · 2008: -55.1pp · 2024: -74.8pp
• All cycles: 2024: R+74.8 2020: R+72.1 2016: R+72.1 2012: R+66.6 2008: R+55.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.69%
• Current HPI: 215.5979
• 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

+89.7% since first listed

13 events — show timeline

• 2026-05-10 Pending — NTREIS
• 2026-05-01 Contingent — NTREIS
• 2026-04-16 Price Changed $189,500 NTREIS
• 2026-03-27 Listed $199,500 NTREIS
• 2026-02-12 Listing Removed — NTREIS
• 2025-11-24 Price Changed $199,000 NTREIS
• 2025-09-19 Price Changed $209,000 NTREIS
• 2025-08-11 Price Changed $214,000 NTREIS
• 2025-02-19 Listed $219,500 NTREIS
• 2016-11-03 Sold (MLS) — GTAR
• 2016-11-02 Sold (Public Records) — Public Records
• 2016-09-23 Listed $99,890 GTAR
• 2008-05-22 Sold (Public Records) — Public Records

Property tax history

+8.5%/yr

Latest (2025): $4,961 · +61.8% YoY. Source: county tax records.