414 S Broadway St · Bells, TX 75414

$100,000

2 bd · 1.0 ba · 1,034 sqft · SingleFamily public records · 111 Days on market

Built 1936 0.28 ac lot $97/sqft · 41% below area Est $169k · 41% under ↓ 43% since listing

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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 +10.5/30.0
• 1% rule +5.1/10.0
• Schools +5.0/10.0
• Livability +3.2/5.0
• DSCR +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

INVESTOR OPPORTUNITY – 1936 FIXER UPPER IN BELLS, TX If you’re looking for your next value-add project, this is it. Built in 1936, this property has strong bones, original hardwood floors ready for restoration, and the kind of character you simply can’t replicate in new construction. This is not a lipstick flip. This is a true renovation opportunity priced accordingly. The structure gives you a solid starting point — now it’s about vision, execution, and margin. Whether you’re a flipper looking for spread, a buy-and-hold investor wanting forced appreciation, or someone who knows how to unlock hidden value, this is your chance to create equity the old-fashioned way. Priced to sell due to condition. Bring your contractor. Bring your numbers. Bring your best offer.

Key facts

• Strong bones
• 0.28 acre lot
• Garage

Tags

• ORIGINAL HARDWOOD FLOORS
• TRUE RENOVATION OPPORTUNITY
• STRONG BONES

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $-52 ($-625/yr) — negative.
• To cash-flow at today's rent, offer at most $91k (9.2% below list).
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $91k (9.2% below list) — sets the bar for cash-flow.
• Cap rate 5.7% vs local median 2.3% in Bells — 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 (#769 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Bells ISD (rural): math 63% / reading 53% proficiency, ranked #81 of 826 in TX (top 10%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Bells El (math 57% / reading 47%, grade C-, #742 of 4,322 statewide, top 19%, 442 students, 47% FRL); Pritchard J H (math 70% / reading 57%, grade B+, #115 of 1,662 statewide, top 7%, 215 students, 41% FRL); Bells H S (math 57% / reading 62%, grade C+, #275 of 1,632 statewide, top 19%, 306 students, 33% FRL).
• Market conditions: 68 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 2,272 units permitted in Grayson County in 2024 (750 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Grayson County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 111 days — a 9% lower offer ($91k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $25k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.4% of price; built in 1936 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate wind risk, 26% chance of damaging wind over 30y; 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 $90,800 (9.2% 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 111 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
3. Built in 1936 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 1.01% ✓
• Cap rate: 5.67%
• Cash-on-cash: -2.23%
• DSCR: 0.90
• GRM: 8.3

CMA / ARV

• ARV (median comp): $169,134
• List price: $100,000
• Delta: -40.88%
• Verdict: UNDERPRICED
• Comps: 10 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
110 E Elm	0.02mi	3/2.0 (+1)	1,131 (+9%)	15mo	$239,500	$212	62

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: -19.8%
• Equity multiple: 0.31×
• Total profit: $-19,410
• Equity at exit: $14,910

10-year hold

• IRR: -12.5%
• Equity multiple: 0.26×
• Total profit: $-20,721
• Equity at exit: $8,646

Cash invested: $28,000 (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 75414

• Home prices YoY: -9.3%
• Active inventory: 68
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,007 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$281 /mo · $3,376/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$211
• Net cashflow: $-52

Break-even live

Break-even rent $1,073

Max offer price $90,800

Occupancy floor —

Sensitivity live

Price	-10% $5	-5% $-24	+0% $-52	+5% $-80	+10% $-109
Rent	-10% $-132	-5% $-92	+0% $-52	+5% $-12	+10% $27
Rate	-1.0pp $-2	-0.5pp $-27	base $-52	+0.5pp $-78	+1.0pp $-104

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
244 W McFarland St Bells, TX	3.0	1.0	750	$975	$1.30	19d	1	0.53mi
246 W McFarland St Bells, TX	3.0	1.0	750	$975	$1.30	22d	1	0.54mi
246 W McFarland St Bells, TX	3.0	1.0	750	$975	$1.30	0d	1	0.54mi
309 W Sherman St Unit 309 Bells, TX	3.0	1.0	1100	$1,095	$1.00	0d	1	0.65mi

Listing history 26 events

1. 2026-06-21
   days on market $100,000 Active 111 DOM
2. 2026-06-19
   days on market $100,000 Active 109 DOM
3. 2026-06-18
   days on market $100,000 Active 108 DOM
4. 2026-06-17
   days on market $100,000 Active 107 DOM
5. 2026-06-16
   days on market $100,000 Active 106 DOM
6. 2026-06-15
   days on market $100,000 Active 105 DOM
7. 2026-06-14
   days on market $100,000 Active 103 DOM
8. 2026-06-13
   days on market $100,000 Active 102 DOM
9. 2026-06-10
   days on market $100,000 Active 100 DOM
10. 2026-06-09
    days on market $100,000 Active 99 DOM
11. 2026-06-08
    days on market $100,000 Active 98 DOM
12. 2026-06-07
    days on market $100,000 Active 97 DOM
13. 2026-06-05
    days on market $100,000 Active 94 DOM
14. 2026-06-03
    days on market $100,000 Active 93 DOM
15. 2026-06-02
    days on market $100,000 Active 92 DOM
16. 2026-06-01
    days on market $100,000 Active 91 DOM
17. 2026-05-31
    days on market $100,000 Active 90 DOM
18. 2026-05-30
    days on market $100,000 Active 89 DOM
19. 2026-04-22
    price $100,000 820-char remark

    Show marketing remark (820 chars)

    INVESTOR OPPORTUNITY – 1936 FIXER UPPER IN BELLS, TX If you’re looking for your next value-add project, this is it. Built in 1936, this property has strong bones, original hardwood floors ready for restoration, and the kind of character you simply can’t replicate in new construction. This is not a lipstick flip. This is a true renovation opportunity priced accordingly. The structure gives you a solid starting point — now it’s about vision, execution, and margin. Whether you’re a flipper looking for spread, a buy-and-hold investor wanting forced appreciation, or someone who knows how to unlock hidden value, this is your chance to create equity the old-fashioned way. Priced to sell due to condition. Bring your contractor. Bring your numbers. Bring your best offer.

20. 2026-04-07
    price $109,900 820-char remark

    Show marketing remark (820 chars)

    INVESTOR OPPORTUNITY – 1936 FIXER UPPER IN BELLS, TX If you’re looking for your next value-add project, this is it. Built in 1936, this property has strong bones, original hardwood floors ready for restoration, and the kind of character you simply can’t replicate in new construction. This is not a lipstick flip. This is a true renovation opportunity priced accordingly. The structure gives you a solid starting point — now it’s about vision, execution, and margin. Whether you’re a flipper looking for spread, a buy-and-hold investor wanting forced appreciation, or someone who knows how to unlock hidden value, this is your chance to create equity the old-fashioned way. Priced to sell due to condition. Bring your contractor. Bring your numbers. Bring your best offer.

21. 2026-03-02
    listed $124,900 Active 820-char remark

    Show marketing remark (820 chars)

    INVESTOR OPPORTUNITY – 1936 FIXER UPPER IN BELLS, TX If you’re looking for your next value-add project, this is it. Built in 1936, this property has strong bones, original hardwood floors ready for restoration, and the kind of character you simply can’t replicate in new construction. This is not a lipstick flip. This is a true renovation opportunity priced accordingly. The structure gives you a solid starting point — now it’s about vision, execution, and margin. Whether you’re a flipper looking for spread, a buy-and-hold investor wanting forced appreciation, or someone who knows how to unlock hidden value, this is your chance to create equity the old-fashioned way. Priced to sell due to condition. Bring your contractor. Bring your numbers. Bring your best offer.

22. 2025-11-25
    historical
23. 2025-09-06
    price $159,900
24. 2025-07-22
    listed $174,900 Active
25. 2008-10-09
    soldstatus
26. 1990-12-21
    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: $3,376 · $281/mo
• Projected year-2 tax: $3,376 · $281/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 ≥109°F today · 21 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 26% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,081
• − Mortgage interest: −$5,602
• − Property taxes: −$3,376
• − Insurance: −$500
• − Repairs & maintenance: −$966
• − Management: −$966
• − Depreciation: −$2,909
• Taxable loss: −$2,239
• Est. tax savings @ 24.0%: +$537
• After-tax cash flow: $-88/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: Bells ISD
• NCES district ID: 4809780
• Math proficiency: 63% ▼ -1.00%
• Reading proficiency: 53% ▼ -3.00%
• Median HH income: $53,905
• Composite: 49.84/100
• National rank: #1949
• State rank: #81 of 826 in TX

Livability — Bells

• Score: 64/100
• State rank: #769
• US rank: #14037

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bells, TX
• Population (ZIP): 3,417

Population outlook (Grayson County) Hauer SSP2

• Today (2025): 134,540 people
• By 2030: 138,653 · +3.1%
• By 2040: 145,958 · +8.5%
• By 2050: 151,218 · +12.4%
• By 2075: 161,802 · +20.3%
• By 2100: 159,036 · +18.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Hispanic / Latino 6% Two or more races 2% Native American 1% Asian 1%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Slovak 6% Italian 2% Romanian 2%
• Foreign-born: 2% · China, Canada
• Languages at home: 97% English-only · Spanish 2% Other Indo-European 1% Chinese 1%

Political lean MEDSL · Grayson

• 2024 margin: Solid R (+54.3) · D 22.5% · R 76.7%
• 2008→2024 swing: -16.4pp toward R · 2008: -37.9pp · 2024: -54.3pp
• All cycles: 2024: R+54.3 2020: R+49.9 2016: R+53.1 2012: R+48.0 2008: R+37.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -26.31%
• Current HPI: 257.42
• 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

-42.8% since first listed

8 events — show timeline

• 2026-04-22 Price Changed $100,000 NTREIS
• 2026-04-07 Price Changed $109,900 NTREIS
• 2026-03-02 Listed $124,900 NTREIS
• 2025-11-25 Listing Removed — NTREIS
• 2025-09-06 Price Changed $159,900 NTREIS
• 2025-07-22 Listed $174,900 NTREIS
• 2008-10-09 Sold (Public Records) — Public Records
• 1990-12-21 Sold (Public Records) — Public Records

Property tax history

+7.0%/yr

Latest (2025): $3,376 · -1.8% YoY. Source: county tax records.