1989 County Rd 175 · Gary City, TX 75643

$190,000

3 bd · 2.0 ba · 1,937 sqft · SingleFamily public records · 62 Days on market

Built 1975 1.04 ac lot $98/sqft · 37% below area Est $261k · 27% under

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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 +15.0/15.0
• Cash flow +7.4/30.0
• Appreciation +5.0/10.0
• Schools +3.4/10.0
• Livability +2.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.5/10.0
• 1% rule +1.4/10.0

Listing remarks MLS

Updated Cottage Near Lake Murvaul – Now 3 Bed, 2 Bath! This charming cottage in the Gary ISD has been thoughtfully updated and now offers 3 bedrooms and 2 bathrooms, providing additional space and functionality just minutes from Lake Murvaul. Situated on 1 acre, this property offers a great blend of comfort, outdoor space, and convenient lake access. Inside, you’ll find a spacious living room, dining area, and a kitchen featuring marble countertops and a granite island. The fenced backyard includes a paver patio with string lights, creating a relaxing outdoor setting, along with two storage buildings for added convenience. A significant recent improvement includes the conversion of the front portion of the garage (labeled as storage on the floor plan) into a new primary bedroom with closet and ensuite bathroom, featuring a shower and double sinks. This addition increases both the home’s bedroom/bath count and overall square footage. The new bedroom and bathroom are in the final stages of completion, with updated photos to be added soon. Located just 2 miles from the Lake Murvaul boat ramp, and within easy driving distance to Carthage, the new Wild Spring Dunes golf destination in Mt. Enterprise, Nacogdoches, Shreveport, Tyler, Longview and surrounding areas, this property is ideal for full-time living or a weekend retreat.

Key facts

• 1.04 acre lot
• Garage
• Built 1975

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $-245 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $147k (22.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $122k (35.8% below list).
• Recommended offer: $122k (35.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 54/100 on livability (#1,412 in TX) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: schools C-, amenities F, commute F.
• Gary ISD (rural): math 32% / reading 48% proficiency, ranked #410 of 826 in TX (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 30 active listings in the ZIP; 6 units permitted in Panola County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($1k loan paydown + $6k appreciation (3.0% local appreciation)).
• Panola County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 5, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($179k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 77% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $121,934 (35.8% 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 62 days. Have you received any prior offers? Is the seller open to a 36% concession, seller financing, or rate buy-down credit?
3. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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: 0.64% ✗
• Cap rate: 4.75%
• Cash-on-cash: -5.52%
• DSCR: 0.75
• GRM: 13.0

CMA / ARV

• ARV (median comp): $260,607
• List price: $190,000
• Delta: -27.09%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 2.4%
• Equity multiple: 1.14×
• Total profit: $7,254
• Equity at exit: $85,432

10-year hold

• IRR: 5.9%
• Equity multiple: 1.90×
• Total profit: $47,637
• Equity at exit: $131,661

Cash invested: $53,200 (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 75643

• Active inventory: 30
• Price-to-rent: 13.0×

Monthly cashflow live

• Estimated rent: $1,219 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$132 /mo · $1,590/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$256
• Net cashflow: $-245

Break-even live

Break-even rent $1,529

Max offer price $146,765

Occupancy floor —

Sensitivity live

Price	-10% $-137	-5% $-191	+0% $-245	+5% $-299	+10% $-352
Rent	-10% $-341	-5% $-293	+0% $-245	+5% $-197	+10% $-148
Rate	-1.0pp $-149	-0.5pp $-196	base $-245	+0.5pp $-294	+1.0pp $-344

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-09
   days on market $190,000 Active 62 DOM
2. 2026-06-08
   days on market $190,000 Active 61 DOM
3. 2026-06-08
   days on market $190,000 Active 60 DOM
4. 2026-06-07
   days on market $190,000 Active 59 DOM
5. 2026-06-03
   days on market $190,000 Active 56 DOM
6. 2026-06-02
   days on market $190,000 Active 55 DOM
7. 2026-06-01
   days on market $190,000 Active 54 DOM
8. 2026-05-31
   days on market $190,000 Active 53 DOM
9. 2026-04-08
   listed $190,000 Active 1362-char remark

   Show marketing remark (1362 chars)

   Updated Cottage Near Lake Murvaul – Now 3 Bed, 2 Bath! This charming cottage in the Gary ISD has been thoughtfully updated and now offers 3 bedrooms and 2 bathrooms, providing additional space and functionality just minutes from Lake Murvaul. Situated on 1 acre, this property offers a great blend of comfort, outdoor space, and convenient lake access. Inside, you’ll find a spacious living room, dining area, and a kitchen featuring marble countertops and a granite island. The fenced backyard includes a paver patio with string lights, creating a relaxing outdoor setting, along with two storage buildings for added convenience. A significant recent improvement includes the conversion of the front portion of the garage (labeled as storage on the floor plan) into a new primary bedroom with closet and ensuite bathroom, featuring a shower and double sinks. This addition increases both the home’s bedroom/bath count and overall square footage. The new bedroom and bathroom are in the final stages of completion, with updated photos to be added soon. Located just 2 miles from the Lake Murvaul boat ramp, and within easy driving distance to Carthage, the new Wild Spring Dunes golf destination in Mt. Enterprise, Nacogdoches, Shreveport, Tyler, Longview and surrounding areas, this property is ideal for full-time living or a weekend retreat.

10. 2025-11-24
    price $170,000
11. 2025-11-01
    price $175,000
12. 2025-10-11
    listed $180,000 Active
13. 2021-06-14
    soldstatus
14. 2021-06-10
    soldstatus
15. 2021-04-29
    listed $44,900
16. 2021-04-28
    soldstatus
17. 2008-12-04
    soldstatus
18. 2006-03-28
    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: $1,590 · $132/mo
• Projected year-2 tax: $3,477 · $290/mo
• Expected delta: +$1,887/yr (+$157/mo · 118.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥111°F today · 24 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 77% 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: $14,632
• − Mortgage interest: −$10,643
• − Property taxes: −$1,590
• − Insurance: −$950
• − Repairs & maintenance: −$1,171
• − Management: −$1,171
• − Depreciation: −$5,527
• Taxable loss: −$6,419
• Est. tax savings @ 24.0%: +$1,541
• After-tax cash flow: $-1,396/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: Gary ISD
• NCES district ID: 4820460
• Math proficiency: 32% ▼ -21.00%
• Reading proficiency: 48% ▬ 0.00%
• Median HH income: $47,528
• Composite: 34.2/100
• National rank: #5269
• State rank: #410 of 826 in TX

Livability — Gary City

• Score: 54/100
• State rank: #1412
• US rank: #24190

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 2,072

Population outlook (Panola County) Hauer SSP2

• Today (2025): 23,273 people
• By 2030: 22,845 · -1.8%
• By 2040: 21,652 · -7.0%
• By 2050: 20,107 · -13.6%
• By 2075: 15,709 · -32.5%
• By 2100: 11,013 · -52.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Two or more races 13% Hispanic / Latino 5% Black 1%
• Common ancestry: Serbian 2% Russian 1% Iranian 1%
• Foreign-born: 0%
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Panola

• 2024 margin: Solid R (+66.4) · D 16.7% · R 83.1%
• 2008→2024 swing: -17.5pp toward R · 2008: -48.9pp · 2024: -66.4pp
• All cycles: 2024: R+66.4 2020: R+63.5 2016: R+63.5 2012: R+56.1 2008: R+48.9

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

+323.2% since first listed

10 events — show timeline

• 2026-04-08 Listed $190,000 LAAR
• 2025-11-24 Price Changed $170,000 LAAR
• 2025-11-01 Price Changed $175,000 LAAR
• 2025-10-11 Listed $180,000 LAAR
• 2021-06-14 Sold (Public Records) — Public Records
• 2021-06-10 Sold (MLS) — LAAR
• 2021-04-29 Listed $44,900 LAAR
• 2021-04-28 Sold (Public Records) — Public Records
• 2008-12-04 Sold (Public Records) — Public Records
• 2006-03-28 Sold (Public Records) — Public Records

Property tax history

+2.9%/yr

Latest (2025): $1,590 · +9.4% YoY. Source: county tax records.