608 S Montgomery St · Gilmer, TX 75644

$84,710

2 bd · 1.0 ba · 1,036 sqft · SingleFamily public records · 686 Days on market

Built 1965 7,754 sqft lot $82/sqft · 46% below area Est $156k · 46% under

---

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 +25.2/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +8.3/10.0
• 1% rule +7.9/10.0
• Schools +3.5/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

TWO BEDROOM 1 BATH FRAM JUST WALKING DISTANCE FROM DOWNTOWN, COVERED FRONT PORCH OVERLOOKS CORNER LOT WITH LOTS OF MATURE TREES.

Key facts

• Covered front porch
• Corner lot
• Mature trees

Tags

• COVERED FRONT PORCH
• CORNER LOT
• MATURE TREES

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $190 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Recommended offer: $75k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.0% vs local median 2.9% in Gilmer — 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 57/100 on livability (#1,257 in TX) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: schools D-, amenities F, commute F.
• Gilmer ISD (town): math 44% / reading 38% proficiency, ranked #372 of 826 in TX (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 207 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 34 units permitted in Upshur County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $9k of equity ($586 loan paydown + $8k appreciation (10.0% local appreciation)).
• Upshur County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 686 days — a 12% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 11y ago; this cycle's ask has dropped $15k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price.
• Climate carrying-cost: major wind risk, 48% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $74,544 (12.0% below list)

Questions for the listing agent

1. It's been on market 686 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 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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 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?
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: 1.29% ✓
• Cap rate: 8.99%
• Cash-on-cash: 9.62%
• DSCR: 1.43
• GRM: 6.5

CMA / ARV

• ARV (median comp): $156,377
• List price: $84,710
• Delta: -45.83%
• Verdict: UNDERPRICED
• Comps: 7 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
603 W Harrison St	0.39mi	2/1.0	1,110 (+7%)	8mo	$160,000	$144	63
800 W Butler	0.38mi	3/2.0 (+1)	1,033 (-0%)	12mo	$155,000	$150	63

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 31.3%
• Equity multiple: 3.46×
• Total profit: $58,320
• Equity at exit: $76,313

10-year hold

• IRR: 27.1%
• Equity multiple: 7.84×
• Total profit: $162,354
• Equity at exit: $164,573

Cash invested: $23,719 (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 75644

• Home prices YoY: 10.0%
• Active inventory: 207
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,091 medium
• Mortgage (P&I): −$444
• Tax from tax record: −$192 /mo · $2,306/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$229
• Net cashflow: $190

Break-even live

Break-even rent $850

Max offer price $84,710

Occupancy floor 78%

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: $21,178
• Closing costs: $2,541
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
620 Mary St Gilmer, TX	3.0	1.0	1220	$1,200	$0.98	43d	1	0.96mi
300 Pecan St Unit 8 Gilmer, TX	2.0	1.0	875	$975	$1.11	43d	1	1.02mi

Listing history 34 events

1. 2026-06-19
   days on market $84,710 Active 686 DOM
2. 2026-06-18
   days on market $84,710 Active 685 DOM
3. 2026-06-17
   days on market $84,710 Active 684 DOM
4. 2026-06-16
   days on market $84,710 Active 683 DOM
5. 2026-06-15
   days on market $84,710 Active 682 DOM
6. 2026-06-14
   days on market $84,710 Active 680 DOM
7. 2026-06-13
   days on market $84,710 Active 679 DOM
8. 2026-06-10
   days on market $84,710 Active 677 DOM
9. 2026-06-09
   days on market $84,710 Active 676 DOM
10. 2026-06-08
    days on market $84,710 Active 675 DOM
11. 2026-06-07
    days on market $84,710 Active 674 DOM
12. 2026-06-05
    days on market $84,710 Active 671 DOM
13. 2026-06-03
    days on market $84,710 Active 670 DOM
14. 2026-06-02
    days on market $84,710 Active 669 DOM
15. 2026-06-01
    days on market $84,710 Active 668 DOM
16. 2026-05-31
    days on market $84,710 Active 667 DOM
17. 2026-05-30
    days on market $84,710 Active 666 DOM
18. 2025-07-21
    price $84,710 128-char remark

    Show marketing remark (128 chars)

    TWO BEDROOM 1 BATH FRAM JUST WALKING DISTANCE FROM DOWNTOWN, COVERED FRONT PORCH OVERLOOKS CORNER LOT WITH LOTS OF MATURE TREES.

19. 2025-03-24
    price $89,700 128-char remark

    Show marketing remark (128 chars)

    TWO BEDROOM 1 BATH FRAM JUST WALKING DISTANCE FROM DOWNTOWN, COVERED FRONT PORCH OVERLOOKS CORNER LOT WITH LOTS OF MATURE TREES.

20. 2024-09-16
    price $94,500 128-char remark

    Show marketing remark (128 chars)

    TWO BEDROOM 1 BATH FRAM JUST WALKING DISTANCE FROM DOWNTOWN, COVERED FRONT PORCH OVERLOOKS CORNER LOT WITH LOTS OF MATURE TREES.

21. 2024-08-01
    listed $99,500 Active 128-char remark

    Show marketing remark (128 chars)

    TWO BEDROOM 1 BATH FRAM JUST WALKING DISTANCE FROM DOWNTOWN, COVERED FRONT PORCH OVERLOOKS CORNER LOT WITH LOTS OF MATURE TREES.

22. 2024-01-26
    price $142,900
23. 2023-07-27
    listed $144,900 Active
24. 2022-08-01
    soldstatus
25. 2022-07-29
    soldstatus
26. 2022-02-12
    listed $125,990
27. 2021-12-01
    soldstatus Sold
28. 2021-07-17
    listed $48,000 Active
29. 2020-06-10
    soldstatus
30. 2020-05-20
    listed $20,000
31. 2016-05-13
    soldstatus
32. 2016-05-13
    soldstatus
33. 2016-05-04
    listed $14,900
34. 2015-10-01
    listed $14,900

ⓘ 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: $2,306 · $192/mo
• Projected year-2 tax: $2,306 · $192/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 ≥111°F today · 25 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 48% 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: $13,092
• − Mortgage interest: −$4,745
• − Property taxes: −$2,306
• − Insurance: −$424
• − Repairs & maintenance: −$1,047
• − Management: −$1,047
• − Depreciation: −$2,464
• Taxable income: $1,059
• Est. tax owed @ 24.0%: −$254
• After-tax cash flow: $2,029/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: Gilmer ISD
• NCES district ID: 4820700
• Math proficiency: 44% ▼ -8.00%
• Reading proficiency: 38% ▼ -3.00%
• Median HH income: $46,724
• Composite: 35.04/100
• National rank: #5038
• State rank: #372 of 826 in TX

Livability — Gilmer

• Score: 57/100
• State rank: #1257
• US rank: #21903

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gilmer, TX
• Population (ZIP): 12,785

Population outlook (Upshur County) Hauer SSP2

• Today (2025): 42,771 people
• By 2030: 43,788 · +2.4%
• By 2040: 45,574 · +6.6%
• By 2050: 46,683 · +9.1%
• By 2075: 49,137 · +14.9%
• By 2100: 47,457 · +11.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Black 11% Hispanic / Latino 10% Two or more races 10%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Serbian 4% Slovak 2% Lithuanian 2%
• Foreign-born: 2% · Canada, Philippines
• Languages at home: 95% English-only · Spanish 4% Chinese 1%

Political lean MEDSL · Upshur

• 2024 margin: Solid R (+71.0) · D 14.2% · R 85.2%
• 2008→2024 swing: -22.0pp toward R · 2008: -49.0pp · 2024: -71.0pp
• All cycles: 2024: R+71.0 2020: R+68.5 2016: R+68.0 2012: R+59.8 2008: R+49.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 27.46%
• Current HPI: 300.86
• 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

+468.5% since first listed

17 events — show timeline

• 2025-07-21 Price Changed $84,710 LAAR
• 2025-03-24 Price Changed $89,700 LAAR
• 2024-09-16 Price Changed $94,500 LAAR
• 2024-08-01 Listed $99,500 LAAR
• 2024-01-26 Price Changed $142,900 LAAR
• 2023-07-27 Listed $144,900 LAAR
• 2022-08-01 Sold (Public Records) — Public Records
• 2022-07-29 Sold (MLS) — LAAR
• 2022-02-12 Listed $125,990 LAAR
• 2021-12-01 Sold (MLS) — NTREIS
• 2021-07-17 Listed $48,000 NTREIS
• 2020-06-10 Sold (MLS) — LAAR
• 2020-05-20 Listed $20,000 LAAR
• 2016-05-13 Sold (MLS) — GTAR
• 2016-05-13 Sold (MLS) — LAAR
• 2016-05-04 Listed $14,900 GTAR
• 2015-10-01 Listed $14,900 LAAR

Property tax history

+13.0%/yr

Latest (2025): $2,306 · -7.4% YoY. Source: county tax records.