608 Richardson Ave · Gruver, TX 79040

$160,000

3 bd · 2.0 ba · 1,274 sqft · SingleFamily public records · 34 Days on market

Built 1957

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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).

• Appreciation +8.0/10.0
• Cash flow +7.6/30.0
• ARV discount +7.5/15.0
• Schools +6.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0
• DSCR +1.7/10.0

Listing remarks

Don't miss out on this updated 3 bedroom with plus room (currently used for storage), 2 recently remodeled bathrooms. Per owner many updates have been completed, kitchen, laundry room, wiring throughout the house, plumbing, new HVAC and ducts installed in 2022 and metal roof in 2019. There are still some items that will be done before closing, such as interior painting, trims and exterior trim around windows. New windows were installed in 2024. Did I mention the large lot, big back yard and metal fence. Call to schedule a showing.

Key facts

• Metal roof
• New hvac
• Big back yard

Tags

• RECENTLY REMODELED BATHROOMS
• UPDATED KITCHEN
• NEW HVAC
• METAL ROOF
• LARGE LOT
• BIG BACK YARD

Property features AI

Exterior

• Parking: Additional parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story; East-facing
• Construction: Frame construction; Metal roof; Pillar/post/pier foundation; Built as residential single family
• Exterior features: Dog run; Outdoor storage

Interior

• Kitchen: Range; Dishwasher; Microwave
• Bathrooms: 1 full bathroom; 1 three-quarter bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans; Range, Dishwasher, Microwave

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $-189 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $127k (20.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $116k (27.4% below list).
• Recommended offer: $116k (27.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 65/100 on livability (#723 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, employment F.
• Gruver ISD (rural): math 83% / reading 64% proficiency, ranked #10 of 826 in TX (top 1%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Zoned schools: Gruver El (math 64% / reading 54%, grade B-, #409 of 4,322 statewide, top 10%, 159 students, 55% FRL); Gruver J H (math 87% / reading 62%, grade A, #35 of 1,662 statewide, top 2%, 129 students, 42% FRL); Gruver H S (math 84% / reading 74%, grade A-, #40 of 1,632 statewide, top 3%, 153 students, 40% FRL).
• Market conditions: 5 active listings in the ZIP.

Forward outlook

• In year one you build about $11k of equity ($1k loan paydown + $10k appreciation (6.0% local appreciation)).
• Hansford County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 4, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($155k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $116,175 (27.4% 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 34 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
3. Built in 1957 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 0.73% ✗
• Cap rate: 4.87%
• Cash-on-cash: -5.07%
• DSCR: 0.77
• GRM: 11.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.96% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 11.2%
• Equity multiple: 1.75×
• Total profit: $33,815
• Equity at exit: $100,210

10-year hold

• IRR: 12.2%
• Equity multiple: 3.43×
• Total profit: $109,025
• Equity at exit: $181,405

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 79040

• Home prices YoY: 5.3%
• Active inventory: 5
• Price-to-rent: 11.5×

Monthly cashflow live

• Estimated rent: $1,162 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$201 /mo · $2,415/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$244
• Net cashflow: $-189

Break-even live

Break-even rent $1,401

Max offer price $126,582

Occupancy floor —

Sensitivity live

Price	-10% $-99	-5% $-144	+0% $-189	+5% $-234	+10% $-280
Rent	-10% $-281	-5% $-235	+0% $-189	+5% $-143	+10% $-97
Rate	-1.0pp $-109	-0.5pp $-148	base $-189	+0.5pp $-231	+1.0pp $-273

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: —

Listing history 19 events

1. 2026-06-21
   days on market $160,000 Active 34 DOM
2. 2026-06-21
   days on market $160,000 Active 33 DOM
3. 2026-06-18
   price $160,000 Active 31 DOM
4. 2026-06-18
   days on market $162,500 Active 31 DOM
5. 2026-06-17
   days on market $162,500 Active 30 DOM
6. 2026-06-16
   days on market $162,500 Active 29 DOM
7. 2026-06-15
   days on market $162,500 Active 28 DOM
8. 2026-06-13
   days on market $162,500 Active 26 DOM
9. 2026-06-12
   days on market $162,500 Active 25 DOM
10. 2026-06-09
    days on market $162,500 Active 22 DOM
11. 2026-06-08
    days on market $162,500 Active 21 DOM
12. 2026-06-08
    pricedays on market $162,500 Active 20 DOM
13. 2026-06-05
    days on market $165,000 Active 18 DOM
14. 2026-06-03
    days on market $165,000 Active 16 DOM
15. 2026-06-02
    days on market $165,000 Active 15 DOM
16. 2026-06-01
    days on market $165,000 Active 14 DOM
17. 2026-05-31
    days on market $165,000 Active 13 DOM
18. 2026-05-18
    listed $165,000 Active
19. 1999-01-19
    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: $2,415 · $201/mo
• Projected year-2 tax: $2,928 · $244/mo
• Expected delta: +$513/yr (+$43/mo · 21.3%)

ⓘ 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 8/10 Severe
• 🌡 Heat 5/10 Major 7 d/yr ≥100°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,941
• − Mortgage interest: −$8,962
• − Property taxes: −$2,415
• − Insurance: −$800
• − Repairs & maintenance: −$1,115
• − Management: −$1,115
• − Depreciation: −$4,655
• Taxable loss: −$5,121
• Est. tax savings @ 24.0%: +$1,229
• After-tax cash flow: $-1,041/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: Gruver ISD
• NCES district ID: 4821930
• Math proficiency: 83% ▲ 6.00%
• Reading proficiency: 64% ▲ 7.00%
• Median HH income: $48,687
• Composite: 62.23/100
• National rank: #702
• State rank: #10 of 826 in TX

Livability — Gruver

• Score: 65/100
• State rank: #723
• US rank: #13464

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gruver, TX
• Population (ZIP): 2,076

Population outlook (Hansford County) Hauer SSP2

• Today (2025): 5,722 people
• By 2030: 5,762 · +0.7%
• By 2040: 5,866 · +2.5%
• By 2050: 5,931 · +3.7%
• By 2075: 6,002 · +4.9%
• By 2100: 5,509 · -3.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Hispanic (53%)
• Race & ethnicity: Hispanic / Latino 53% White 42% Two or more races 24% Native American 1%
• Hispanic origin (detail): Mexican 52%
• Common ancestry: Serbian 2% Russian 1% Portuguese 1%
• Foreign-born: 20% · Canada
• Languages at home: 53% English-only · Spanish 47%

Political lean MEDSL · Hansford

• 2024 margin: Solid R (+84.8) · D 7.3% · R 92.2%
• 2008→2024 swing: -8.4pp toward R · 2008: -76.5pp · 2024: -84.8pp
• All cycles: 2024: R+84.8 2020: R+82.2 2016: R+80.1 2012: R+83.1 2008: R+76.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.96%
• Current HPI: 118.1608
• 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

2 events — show timeline

• 2026-05-18 Listed $165,000 AARMLS
• 1999-01-19 Sold (Public Records) — Public Records

Property tax history

+9.1%/yr

Latest (2025): $2,415 · +47.1% YoY. Source: county tax records.