6305 Graceland Dr · Greenville, TX 75402

$229,999

3 bd · 2.0 ba · 1,621 sqft · Other · 28 Days on market

Built 2025 5,750 sqft lot $4/mo HOA ↓ 10% 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).

• Cash flow +13.6/30.0
• ARV discount +7.5/15.0
• DSCR +4.1/10.0
• Livability +3.9/5.0
• 1% rule +2.6/10.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks

This new single-story home boasts a convenient and low-maintenance layout. Three bedrooms are secluded near the front of the home, leading to a spacious and flexible open-concept layout where the kitchen, dining room and family room meet. Nestled into a private rear corner is the lavish owner’s suite, featuring a full bathroom and walk-in closet. Prices, dimensions and features may vary and are subject to change. Photos are for illustrative purposes only.

Key facts

• Lavish owner's suite
• Full bathroom
• Walk-in closet

Tags

• SINGLE-STORY HOME
• LOW-MAINTENANCE LAYOUT
• OPEN-CONCEPT LAYOUT
• LAVISH OWNER'S SUITE
• FULL BATHROOM
• WALK-IN CLOSET

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $230k.

Deal economics

• At list price, monthly cash flow is $14 ($168/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $175k (24.0% below list).
• Recommended offer: $175k (24.0% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 4.1% in Greenville — 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 77/100 on livability (#78 in TX, #2,719 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: employment D, commute F.
• Greenville ISD (town): math 20% / reading 26% proficiency, ranked #743 of 826 in TX (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Lamar El (math 28% / reading 33%, grade F, #2,464 of 4,322 statewide, top 58%, 554 students, 59% FRL); Greenville Middle (math 17% / reading 28%, grade F, #1,341 of 1,662 statewide, top 82%, 727 students, 76% FRL); Greenville H S (math 17% / reading 37%, grade F, #1,204 of 1,632 statewide, top 75%, 1,480 students, 66% FRL).
• Market conditions: Rents soft (-1.0%/yr); 298 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,289 units permitted in Hunt County in 2024 (527 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Hunt County population projected at +15% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($227k) is reasonable based on typical stale-listing flexibility.

Recommended offer $174,848 (24.0% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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?
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: 0.76% ✗
• Cap rate: 6.37%
• Cash-on-cash: 0.26%
• DSCR: 1.01
• GRM: 11.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -18.9%
• Equity multiple: 0.35×
• Total profit: $-41,613
• Equity at exit: $34,294

10-year hold

• IRR: -17.9%
• Equity multiple: 0.14×
• Total profit: $-55,340
• Equity at exit: $19,886

Cash invested: $64,400 (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 75402

• Rents YoY: -1.0%
• Active inventory: 298
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $1,748 high
• Mortgage (P&I): −$1,206
• Tax from tax record: −$61 /mo · $736/yr
• Insurance: −$96
• HOA: −$4
• Vacancy / Maint / Mgmt: −$367
• Net cashflow: $14

Break-even live

Break-even rent $1,731

Max offer price $229,999

Occupancy floor 94%

Sensitivity live

Price	-10% $144	-5% $79	+0% $14	+5% $-51	+10% $-116
Rent	-10% $-124	-5% $-55	+0% $14	+5% $83	+10% $152
Rate	-1.0pp $130	-0.5pp $72	base $14	+0.5pp $-46	+1.0pp $-106

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: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1412 Waverley Dr Greenville, TX	3.0	2.0	1333	$1,650	$1.24	45d	1	0.11mi
1401 Brindle Dr Greenville, TX	3.0	2.0	1290	$1,750	$1.36	45d	1	0.16mi
1417 Brindle Dr Greenville, TX	3.0	2.0	1187	$1,175	$0.99	0d	1	0.19mi
50021 Del Ra Dr Greenville, TX	3.0	1.5	1452	$1,700	$1.17	26d	1	0.19mi
6529 Graceland Dr Greenville, TX	3.0	2.0	1702	$1,875	$1.10	26d	1	0.35mi
1426 Thibodaux Dr Greenville, TX	3.0	2.0	1659	$1,795	$1.08	0d	1	0.37mi
512 Oakridge Dr Greenville, TX	3.0	3.0	1695	$1,700	$1.00	45d	1	0.60mi
328 Jamie Way Greenville, TX	3.0	2.0	1841	$2,150	$1.17	20d	1	0.60mi
6809 Topaz Dr Greenville, TX	3.0	3.0	2052	$1,995	$0.97	45d	1	0.71mi
6820 Topaz Dr Greenville, TX	3.0	2.5	1819	$900	$0.49	45d	1	0.73mi
1214 Interstate Highway 30 Greenville, TX	1.0–3.0	1.0–2.0	900	$1,500	$1.67	0d	1	0.76mi
6915 Justin Ln Greenville, TX	3.0	2.0	1405	$1,925	$1.37	24d	1	0.87mi
6320 Stonewall St Greenville, TX	3.0	1.0–2.0	930	$1,725	$1.85	0d	1	0.89mi
1012 Eva Dr Greenville, TX	3.0	2.0	1582	$1,895	$1.20	26d	1	0.95mi
1017 Eva Dr Greenville, TX	3.0	2.0	1582	$1,450	$0.92	45d	1	0.99mi
906 Tippit Ln Greenville, TX	3.0	2.0	1605	$1,900	$1.18	4d	1	1.01mi
708 Tippit Ln Greenville, TX	3.0	2.0	1612	$1,895	$1.18	0d	1	1.01mi
2509 Garden Dr Greenville, TX	3.0	2.0	1287	$1,450	$1.13	0d	1	1.04mi
804 Ransom Way Greenville, TX	3.0	2.0	1605	$1,900	$1.18	20d	1	1.06mi
802 Ransom Way Greenville, TX	3.0	2.0	1605	$1,900	$1.18	4d	1	1.07mi
3000 Webb Ave Unit 402 Greenville, TX	2.0	1.5	1300	$1,425	$1.10	26d	1	1.11mi
708 Hardaway Ln Greenville, TX	3.0	2.0	1605	$1,900	$1.18	12d	1	1.12mi
3000 Webb Ave Greenville, TX	2.0	1.5	1300	$1,395	$1.07	0d	1	1.13mi
1001 Hardaway Dr Greenville, TX	3.0	2.0	1596	$1,850	$1.16	4d	1	1.15mi
1005 Hardaway Ln Greenville, TX	3.0	2.0	1605	$1,950	$1.21	3d	1	1.15mi
1905 Center Point Ln Greenville, TX	1.0–2.0	1.0–2.0	925	$1,436	$1.55	0d	16	1.16mi
703 Moseley Ln Greenville, TX	3.0	2.0	1605	$1,890	$1.18	45d	1	1.20mi
706 Greyson Ln Greenville, TX	3.0	2.0	1605	$1,895	$1.18	45d	1	1.23mi
6504 Flamingo Rd Greenville, TX	3.0	2.0	1190	$1,425	$1.20	26d	1	1.24mi
4504 Stonewall St Greenville, TX	4.0	3.0	2212	$1,500	$0.68	45d	1	1.28mi
601 Beechwood Dr Greenville, TX	3.0	2.0	1890	$1,825	$0.97	26d	1	1.31mi
4205 Stuart St Greenville, TX	3.0	2.0	1228	$1,790	$1.46	9d	1	1.32mi
4102 Gordon St Greenville, TX	3.0	2.0	1296	$1,675	$1.29	26d	1	1.34mi
4102 Gordon St Greenville, TX	3.0	2.0	1296	$1,675	$1.29	13d	1	1.34mi
4102 Gordon St Greenville, TX	3.0	2.0	1296	$1,675	$1.29	9d	1	1.34mi
710 Teakwood Dr Greenville, TX	4.0	2.0	1862	$2,095	$1.13	26d	1	1.35mi
6716 Flamingo Rd Greenville, TX	3.0	2.0	1344	$1,650	$1.23	0d	1	1.36mi
8503 Christie Ln Greenville, TX	3.0	2.0	1547	$1,895	$1.22	0d	1	1.36mi
4105 Stuart St Greenville, TX	3.0	2.0	1558	$1,675	$1.08	18d	1	1.36mi
4214 Johnson St Greenville, TX	3.0	1.0	1096	$1,250	$1.14	26d	1	1.37mi

HOA detail

• Monthly dues: $4 · $48/yr

Listing history 5 events

1. 2026-03-14
   status Pending
2. 2026-03-07
   price $229,999
3. 2026-03-04
   price $234,999
4. 2026-02-25
   price $230,999
5. 2026-02-14
   listed $255,999 Active

ⓘ 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: $736 · $61/mo
• Projected year-2 tax: $4,209 · $351/mo
• Expected delta: +$3,473/yr (+$289/mo · 471.8%)

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

Taxation est. · year 1

• Rental income: $20,982
• − Mortgage interest: −$12,884
• − Property taxes: −$736
• − Insurance: −$1,150
• − Repairs & maintenance: −$1,679
• − Management: −$1,679
• − HOA: −$48
• − Depreciation: −$6,691
• Taxable loss: −$3,884
• Est. tax savings @ 24.0%: +$932
• After-tax cash flow: $1,100/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: Greenville ISD
• NCES district ID: 4821720
• Math proficiency: 20% ▼ -12.00%
• Reading proficiency: 26% ▼ -7.00%
• Median HH income: $41,374
• Composite: 19.56/100
• National rank: #8759
• State rank: #743 of 826 in TX

Livability — Greenville

• Score: 77/100
• State rank: #78
• US rank: #2719

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Greenville, TX
• County: Hunt County · 71,969 people
• City population: 42,767
• Metro: Dallas-Fort Worth-Arlington, TX
• Population (ZIP): 20,098
• Household income: $77,877
• Rent vs Own: 33.1% rent · 66.9% own
• Severe rent burden: 361.0

Population outlook (Hunt County) Hauer SSP2

• Today (2025): 97,090 people
• By 2030: 100,452 · +3.5%
• By 2040: 106,544 · +9.7%
• By 2050: 111,218 · +14.6%
• By 2075: 121,695 · +25.3%
• By 2100: 123,683 · +27.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 11% Black 10% Two or more races 8% Asian 2%
• Hispanic origin (detail): Mexican 7% Puerto Rican 1%
• Common ancestry: Slovak 2% Romanian 2% Lithuanian 1%
• Foreign-born: 3% · Canada, China
• Languages at home: 93% English-only · Spanish 5% Chinese 1%

Political lean MEDSL · Hunt

• 2024 margin: Solid R (+55.5) · D 21.9% · R 77.4%
• 2008→2024 swing: -14.9pp toward R · 2008: -40.6pp · 2024: -55.5pp
• All cycles: 2024: R+55.5 2020: R+52.5 2016: R+56.3 2012: R+51.2 2008: R+40.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -141.52%
• Current HPI: 232.0505
• Rent YoY: ▼ -1.00%
• Metro: Dallas-Fort Worth-Arlington, 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

-10.2% since first listed

5 events — show timeline

• 2026-03-14 Pending — NTREIS
• 2026-03-07 Price Changed $229,999 NTREIS
• 2026-03-04 Price Changed $234,999 NTREIS
• 2026-02-25 Price Changed $230,999 NTREIS
• 2026-02-14 Listed $255,999 NTREIS

Property tax history

+1.3%/yr

Latest (2025): $736 · +1.3% YoY. Source: county tax records.