920 Hancock St · Gainesville, TX 76240

$160,000

2 bd · 2.0 ba · 1,075 sqft · SingleFamily public records · 81 Days on market

Built 1937 8,886 sqft lot $149/sqft · 7% above area Est $150k · 7% over

---

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).

• Cash flow +17.8/30.0
• DSCR +5.6/10.0
• 1% rule +5.2/10.0
• ARV discount +4.4/15.0
• 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 MLS

Fantastic investment opportunity in booming north Texas, perfect for investors seeking immediate cash flow! This beautifully renovated 2-bedroom, 1-bath home with a 1-car garage, is tenant-occupied at $1,299 per month through May 2027, making this a turnkey addition to your rental portfolio! Step inside to find a thoughtfully updated home featuring durable vinyl plank wood-like flooring throughout, complemented by faux wood blinds and updated finishes that create a clean, modern look. The renovated kitchen is a standout feature, showcasing granite countertops, updated cabinetry, and a fresh contemporary design—ideal for both everyday living and entertaining. The bathroom has been fully updated with sleek, modern finishes, while both bedrooms are well-sized and filled with natural light. The flexible layout allows for use as guest rooms, a home office, or additional living space to suit your needs. A 1-car garage adds convenience with secure parking and extra storage. With its updated condition and low-maintenance features, this property presents a great opportunity to start or add to your investment portfolio. This property is also offered as part of an Investor Package Deal. Contact Listing Agent for more info.

Key facts

• 8,886 sq ft lot
• Garage
• Built 1937

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $132 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $150k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.3% vs local median 3.6% 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); Gainesville J H (math 32% / reading 38%, grade F, #842 of 1,662 statewide, top 51%, 426 students, 71% FRL); Gainesville H S (math 42% / reading 22%, grade F, #1,044 of 1,632 statewide, top 66%, 863 students, 47% FRL).
• Market conditions: 461 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 81 days — a 6% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 20y ago; this cycle's ask is 12217% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: built in 1937 — 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 $150,400 (6.0% below list)

Questions for the listing agent

1. It's been on market 81 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1937 — 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. 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?
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: 1.02% ✓
• Cap rate: 7.28%
• Cash-on-cash: 3.52%
• DSCR: 1.16
• GRM: 8.2

CMA / ARV

• ARV (median comp): $149,542
• List price: $160,000
• Delta: 6.99%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1009 Moran St	0.29mi	2/1.0	1,118 (+4%)	19mo	$138,500	$124	60
901 W Star St	0.31mi	2/1.0	957 (-11%)	5mo	$195,000	$204	59
531 N Dixon St N	0.38mi	2/1.0	1,136 (+6%)	12mo	$99,500	$88	59
527 N Dixon St N	0.38mi	2/1.0	1,136 (+6%)	12mo	$120,000	$106	58
831 Lawrence St	0.70mi	2/2.0	1,090 (+1%)	9mo	$185,000	$170	58
113 E Cummings St	0.38mi	2/1.0	962 (-10%)	4mo	$134,500	$140	57
816 Field St	0.22mi	3/2.0 (+1)	1,200 (+12%)	14mo	$219,900	$183	54
614 W Scott St	0.40mi	2/1.0	1,176 (+9%)	15mo	$98,784	$84	50
1704 Throckmorton St	0.54mi	2/1.0	960 (-11%)	6mo	$99,999	$104	48
1807 Buck St	0.65mi	3/1.0 (+1)	1,149 (+7%)	5mo	$129,000	$112	45
1820 Mill St	0.70mi	3/1.5 (+1)	1,028 (-4%)	12mo	$185,000	$180	43
415 2nd St	0.60mi	3/2.0 (+1)	1,232 (+15%)	12mo	$115,000	$93	32

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: -10.7%
• Equity multiple: 0.61×
• Total profit: $-17,496
• Equity at exit: $23,857

10-year hold

• IRR: -1.4%
• Equity multiple: 0.91×
• Total profit: $-4,233
• Equity at exit: $13,834

Cash invested: $44,800 (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: 461
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,624 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$246 /mo · $2,949/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$341
• Net cashflow: $132

Break-even live

Break-even rent $1,458

Max offer price $160,000

Occupancy floor 87%

Sensitivity live

Price	-10% $222	-5% $177	+0% $132	+5% $86	+10% $41
Rent	-10% $3	-5% $67	+0% $132	+5% $196	+10% $260
Rate	-1.0pp $212	-0.5pp $172	base $132	+0.5pp $90	+1.0pp $48

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
426 N Clements St Gainesville, TX	3.0	2.0	1408	$2,307	$1.64	45d	1	1.05mi
1010 E Main St Gainesville, TX	3.0	1.0	1263	$1,550	$1.23	45d	1	1.07mi
1000 Bella Vista Dr Gainesville, TX	3.0	2.0	1150	$1,536	$1.34	45d	1	1.11mi
1610 Elizabeth St Gainesville, TX	3.0	1.0	1100	$1,500	$1.36	45d	1	1.21mi

Listing history 39 events

1. 2026-06-22
   days on market $160,000 Active 81 DOM
2. 2026-06-19
   days on market $160,000 Active 78 DOM
3. 2026-06-18
   days on market $160,000 Active 77 DOM
4. 2026-06-17
   days on market $160,000 Active 76 DOM
5. 2026-06-16
   days on market $160,000 Active 75 DOM
6. 2026-06-15
   days on market $160,000 Active 74 DOM
7. 2026-06-14
   days on market $160,000 Active 72 DOM
8. 2026-06-12
   days on market $160,000 Active 71 DOM
9. 2026-06-09
   days on market $160,000 Active 68 DOM
10. 2026-06-08
    days on market $160,000 Active 67 DOM
11. 2026-06-07
    days on market $160,000 Active 66 DOM
12. 2026-06-05
    days on market $160,000 Active 63 DOM
13. 2026-06-03
    days on market $160,000 Active 62 DOM
14. 2026-06-02
    days on market $160,000 Active 61 DOM
15. 2026-06-01
    days on market $160,000 Active 60 DOM
16. 2026-05-31
    days on market $160,000 Active 59 DOM
17. 2026-05-30
    days on market $160,000 Active 58 DOM
18. 2026-04-05
    historical $1,299
19. 2026-04-03
    listed $1,299
20. 2026-04-02
    historical $1,299

    Show marketing remark (1249 chars)

    Fantastic investment opportunity in booming north Texas, perfect for investors seeking immediate cash flow! This beautifully renovated 2-bedroom, 1-bath home with a 1-car garage, is tenant-occupied at $1,299 per month through May 2027, making this a turnkey addition to your rental portfolio! Step inside to find a thoughtfully updated home featuring durable vinyl plank wood-like flooring throughout, complemented by faux wood blinds and updated finishes that create a clean, modern look. The renovated kitchen is a standout feature, showcasing granite countertops, updated cabinetry, and a fresh contemporary design—ideal for both everyday living and entertaining. The bathroom has been fully updated with sleek, modern finishes, while both bedrooms are well-sized and filled with natural light. The flexible layout allows for use as guest rooms, a home office, or additional living space to suit your needs. A 1-car garage adds convenience with secure parking and extra storage. With its updated condition and low-maintenance features, this property presents a great opportunity to start or add to your investment portfolio. This property is also offered as part of an Investor Package Deal. Contact Listing Agent for more info.

21. 2026-04-02
    listed $170,000 Active 1249-char remark

    Show marketing remark (1249 chars)

    Fantastic investment opportunity in booming north Texas, perfect for investors seeking immediate cash flow! This beautifully renovated 2-bedroom, 1-bath home with a 1-car garage, is tenant-occupied at $1,299 per month through May 2027, making this a turnkey addition to your rental portfolio! Step inside to find a thoughtfully updated home featuring durable vinyl plank wood-like flooring throughout, complemented by faux wood blinds and updated finishes that create a clean, modern look. The renovated kitchen is a standout feature, showcasing granite countertops, updated cabinetry, and a fresh contemporary design—ideal for both everyday living and entertaining. The bathroom has been fully updated with sleek, modern finishes, while both bedrooms are well-sized and filled with natural light. The flexible layout allows for use as guest rooms, a home office, or additional living space to suit your needs. A 1-car garage adds convenience with secure parking and extra storage. With its updated condition and low-maintenance features, this property presents a great opportunity to start or add to your investment portfolio. This property is also offered as part of an Investor Package Deal. Contact Listing Agent for more info.

22. 2026-03-13
    price $1,299
23. 2026-03-12
    price $1,275
24. 2026-02-13
    historical $1,299
25. 2026-02-13
    listed $1,299
26. 2026-02-04
    listed $1,299
27. 2024-11-26
    historical
28. 2024-09-20
    listed $155,000 Active
29. 2024-09-15
    historical $1,300
30. 2024-09-05
    listed $1,300
31. 2024-01-25
    historical $1,300
32. 2023-12-29
    price $1,300
33. 2023-12-16
    listed $1,325
34. 2022-06-10
    soldstatus
35. 2008-03-25
    soldstatus
36. 2006-11-07
    soldstatus
37. 2006-11-06
    soldstatus
38. 2006-10-20
    historical
39. 2006-10-10
    listed $39,900

ⓘ 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: $2,949 · $246/mo
• Projected year-2 tax: $2,949 · $246/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 17% 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: $19,489
• − Mortgage interest: −$8,962
• − Property taxes: −$2,949
• − Insurance: −$800
• − Repairs & maintenance: −$1,559
• − Management: −$1,559
• − Depreciation: −$4,655
• Taxable loss: −$995
• Est. tax savings @ 24.0%: +$239
• After-tax cash flow: $1,817/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

-96.7% since first listed

22 events — show timeline

• 2026-04-05 Rental Removed $1,299 BUILDIUM
• 2026-04-03 Listed for Rent $1,299 BUILDIUM
• 2026-04-02 Rental Removed $1,299 NTREIS
• 2026-04-02 Listed $170,000 NTREIS
• 2026-03-13 Price Changed $1,299 NTREIS
• 2026-03-12 Price Changed $1,275 NTREIS
• 2026-02-13 Rental Removed $1,299 BUILDIUM
• 2026-02-13 Listed for Rent $1,299 NTREIS
• 2026-02-04 Listed for Rent $1,299 BUILDIUM
• 2024-11-26 Listing Removed — NTREIS
• 2024-09-20 Listed $155,000 NTREIS
• 2024-09-15 Rental Removed $1,300 RENTALBEAST
• 2024-09-05 Listed for Rent $1,300 RENTALBEAST
• 2024-01-25 Rental Removed $1,300 NTREIS
• 2023-12-29 Price Changed $1,300 NTREIS
• 2023-12-16 Listed for Rent $1,325 NTREIS
• 2022-06-10 Sold (Public Records) — Public Records
• 2008-03-25 Sold (Public Records) — Public Records
• 2006-11-07 Sold (Public Records) — Public Records
• 2006-11-06 Sold (MLS) — NTREIS
• 2006-10-20 Listing Removed — NTREIS
• 2006-10-10 Listed $39,900 NTREIS

Property tax history

+11.3%/yr

Latest (2025): $2,949 · +32.5% YoY. Source: county tax records.