1118 W Main St · Gatesville, TX 76528

$127,500

3 bd · 1.0 ba · 1,256 sqft · SingleFamily public records · 54 Days on market

Built 1946 2.20 ac lot $102/sqft · 18% below area Est $155k · 18% under ↓ 15% since listing

---

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 +26.1/30.0
• ARV discount +15.0/15.0
• DSCR +8.8/10.0
• 1% rule +6.6/10.0
• Schools +3.4/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Offered as-is, this two parcel property is a rare opportunity for full renovation or custom redevelopment. Can be residential or commercial. The 1946 home needs significant work, but the value lies in the 2.2-acre lot and existing infrastructure. Outbuildings include a detached workshop with RV or boat awning and a detached single-car garage (under 25 years old), ideal for contractors or hobbyists. The 1946 residence is a true fixer--perfect for a full remodel or a new build using the existing footprint. The 2.2 level acres offer privacy, flexibility, and no HOA--ideal for equipment storage, RV or boat parking, or future expansion. Priced for its current condition; best suited for cash or renovation financing.

Key facts

• Custom redevelopment
• 2.2 acre lot
• Detached workshop

Tags

• TWO PARCEL PROPERTY
• FULL RENOVATION
• CUSTOM REDEVELOPMENT
• 2.2 ACRE LOT
• EXISTING INFRASTRUCTURE
• DETACHED WORKSHOP

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $128k.

Deal economics

• At list price, monthly cash flow is $320 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $128k).
• Recommended offer: $124k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.3% vs local median 3.9% in Gatesville — 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 65/100 on livability (#702 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: employment C-, schools F, amenities F.
• Gatesville ISD (town): math 38% / reading 42% proficiency, ranked #409 of 826 in TX (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 222 active listings in the ZIP; 386 units permitted in Coryell County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $882 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 54 days — a 3% lower offer ($124k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $22k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1946 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 46% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 6→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $123,675 (3.0% below list)

Questions for the listing agent

1. It's been on market 54 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1946 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.16% ✓
• Cap rate: 9.30%
• Cash-on-cash: 10.75%
• DSCR: 1.48
• GRM: 7.2

CMA / ARV

• ARV (median comp): $155,011
• List price: $127,500
• Delta: -17.75%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1208 Baldridge Dr	0.14mi	3/2.0	1,271 (+1%)	3mo	$229,500	$181	84

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: -0.2%
• Equity multiple: 0.99×
• Total profit: $-286
• Equity at exit: $19,011

10-year hold

• IRR: 9.5%
• Equity multiple: 1.73×
• Total profit: $25,992
• Equity at exit: $11,024

Cash invested: $35,700 (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 76528

• Home prices YoY: -24.2%
• Active inventory: 222
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,479 medium
• Mortgage (P&I): −$669
• Tax from tax record: −$127 /mo · $1,522/yr
• Insurance: −$53
• HOA: −$0
• Vacancy / Maint / Mgmt: −$311
• Net cashflow: $320

Break-even live

Break-even rent $1,074

Max offer price $127,500

Occupancy floor 73%

Sensitivity live

Price	-10% $392	-5% $356	+0% $320	+5% $284	+10% $248
Rent	-10% $203	-5% $261	+0% $320	+5% $378	+10% $437
Rate	-1.0pp $384	-0.5pp $352	base $320	+0.5pp $287	+1.0pp $253

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: $31,875
• Closing costs: $3,825
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-02
   status $127,500 Pending 54 DOM
2. 2026-06-01
   days on market $127,500 Active 54 DOM
3. 2026-05-31
   days on market $127,500 Active 53 DOM
4. 2026-05-30
   days on market $127,500 Active 52 DOM
5. 2026-04-15
   price $127,500 719-char remark

   Show marketing remark (738 chars)

   IMPROVED PRICE-Offered as-is, this two-parcel property is a rare opportunity for full renovation or custom redevelopment. Can be Residential or Commercial. The 1946 home needs significant work, but the value lies in the 2.2-acre lot and existing infrastructure. Outbuildings include a detached workshop with RV/boat awning and a detached single-car garage (under 25 years old), ideal for contractors or hobbyists. The 1946 residence is a true fixer—perfect for a full remodel or a new build using the existing footprint. The 2.2 level acres offer privacy, flexibility, and no HOA—ideal for equipment storage, RV/boat parking, or future expansion. Priced for its current condition; best suited for cash or renovation financing.

6. 2026-04-15
   price $127,500 738-char remark

   Show marketing remark (738 chars)

   IMPROVED PRICE-Offered as-is, this two-parcel property is a rare opportunity for full renovation or custom redevelopment. Can be Residential or Commercial. The 1946 home needs significant work, but the value lies in the 2.2-acre lot and existing infrastructure. Outbuildings include a detached workshop with RV/boat awning and a detached single-car garage (under 25 years old), ideal for contractors or hobbyists. The 1946 residence is a true fixer—perfect for a full remodel or a new build using the existing footprint. The 2.2 level acres offer privacy, flexibility, and no HOA—ideal for equipment storage, RV/boat parking, or future expansion. Priced for its current condition; best suited for cash or renovation financing.

7. 2026-04-08
   listed $149,900 Active 719-char remark

   Show marketing remark (719 chars)

   Offered as-is, this two parcel property is a rare opportunity for full renovation or custom redevelopment. Can be residential or commercial. The 1946 home needs significant work, but the value lies in the 2.2-acre lot and existing infrastructure. Outbuildings include a detached workshop with RV or boat awning and a detached single-car garage (under 25 years old), ideal for contractors or hobbyists. The 1946 residence is a true fixer--perfect for a full remodel or a new build using the existing footprint. The 2.2 level acres offer privacy, flexibility, and no HOA--ideal for equipment storage, RV or boat parking, or future expansion. Priced for its current condition; best suited for cash or renovation financing.

8. 2026-02-17
   listed $149,900 Active 738-char remark

   Show marketing remark (738 chars)

   IMPROVED PRICE-Offered as-is, this two-parcel property is a rare opportunity for full renovation or custom redevelopment. Can be Residential or Commercial. The 1946 home needs significant work, but the value lies in the 2.2-acre lot and existing infrastructure. Outbuildings include a detached workshop with RV/boat awning and a detached single-car garage (under 25 years old), ideal for contractors or hobbyists. The 1946 residence is a true fixer—perfect for a full remodel or a new build using the existing footprint. The 2.2 level acres offer privacy, flexibility, and no HOA—ideal for equipment storage, RV/boat parking, or future expansion. Priced for its current condition; best suited for cash or renovation financing.

ⓘ 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: $1,522 · $127/mo
• Projected year-2 tax: $2,333 · $194/mo
• Expected delta: +$811/yr (+$68/mo · 53.3%)

ⓘ 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 6/10 Major
• 🌡 Heat 7/10 Severe 6 d/yr ≥108°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 46% 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: $17,748
• − Mortgage interest: −$7,142
• − Property taxes: −$1,522
• − Insurance: −$638
• − Repairs & maintenance: −$1,420
• − Management: −$1,420
• − Depreciation: −$3,709
• Taxable income: $1,898
• Est. tax owed @ 24.0%: −$456
• After-tax cash flow: $3,383/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: Gatesville ISD
• NCES district ID: 4820500
• Math proficiency: 38% ▼ -3.00%
• Reading proficiency: 42% ▬ 0.00%
• Median HH income: $47,114
• Composite: 34.21/100
• National rank: #5264
• State rank: #409 of 826 in TX

Livability — Gatesville

• Score: 65/100
• State rank: #702
• US rank: #13121

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gatesville, TX
• County: Coryell County · 61,053 people
• City population: 18,935
• Metro: Killeen-Temple, TX
• Population (ZIP): 18,935
• Household income: $70,558
• Rent vs Own: 29.5% rent · 70.5% own
• Severe rent burden: 243.0

Population outlook (Coryell County) Hauer SSP2

• Today (2025): 75,485 people
• By 2030: 75,627 · +0.2%
• By 2040: 74,898 · -0.8%
• By 2050: 74,221 · -1.7%
• By 2075: 72,688 · -3.7%
• By 2100: 66,862 · -11.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Hispanic / Latino 16% Two or more races 15% Black 4% Asian 1%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Slovak 2% Lithuanian 2% Serbian 1%
• Foreign-born: 5% · Canada, South Korea
• Languages at home: 87% English-only · Spanish 10% German/W. Germanic 1% Other Indo-European 1%

Political lean MEDSL · Coryell

• 2024 margin: Solid R (+40.7) · D 29.1% · R 69.8% · Other 1.1%
• 2008→2024 swing: -13.8pp toward R · 2008: -26.9pp · 2024: -40.7pp
• All cycles: 2024: R+40.7 2020: R+33.5 2016: R+39.5 2012: R+36.6 2008: R+26.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -66.18%
• Current HPI: 206.6876
• Rent YoY: —
• Metro: Killeen-Temple, 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

-14.9% since first listed

4 events — show timeline

• 2026-04-15 Price Changed $127,500 NTREIS
• 2026-04-15 Price Changed $127,500 CTXMLS
• 2026-04-08 Listed $149,900 NTREIS
• 2026-02-17 Listed $149,900 CTXMLS

Property tax history

+3.0%/yr

Latest (2025): $1,522 · +11.5% YoY. Source: county tax records.