316 Ritchey St · Gainesville, TX 76240

$140,000

3 bd · 1.0 ba · 1,202 sqft · SingleFamily public records · 203 Days on market

Built 1940 0.28 ac lot Est $204k · 31% under

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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 +28.9/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.7/10.0
• Livability +3.3/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great first time home buyer or investment property. Additional appliances included are Refrigerator, Microwave, Washer and Dryer without guarantee or warranty of operation. All Furniture not marked also conveys with property. Buyer to verify all taxes, measurements, and schools. Property being sold as is.

Key facts

• Covered front porch
• Walk-in laundry room
• 0.28 acre lot

Tags

• COVERED FRONT PORCH
• OPEN KITCHEN AND DINING AREA
• WALK-IN LAUNDRY ROOM
• PATIO AND FENCED BACKYARD

Property features AI

Finance

• Other: Property subtype: Single Family Residence; Lot about 0.282 acres; Subdivision: Cunningham Add
• Financial info: Listing terms include Cash and Conventional; Second mortgage: No
• HOA & community: No association

Exterior

• Parking: Driveway; Garage (1-car, faces front); Covered parking for 2 vehicles; Carport for 1 vehicle
• Security: No specific security features provided
• Utilities: City water; City sewer / sewer available; Not in a municipal utility district
• Home design: Single-family residence; One story; Residential property
• Construction: Built in 1940; Siding and other exterior materials; Shingle roof; Other foundation details
• Exterior features: Covered front porch; Patio; Covered porch(es); Back yard fencing; Grassed yard; Few trees; Interior lot

Interior

• Kitchen: Dishwasher; Gas range; Built-in cabinets; Eat-in kitchen; Solid surface/non-natural countertops
• Bedrooms: Primary bedroom (main level); Total of 3 bedrooms
• Flooring: Carpet; Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Ceiling fan(s); Window unit(s)
• Interior features: Built-in features; Eat-in kitchen; Other
• Laundry & utility: No specific laundry details provided

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $477 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $123k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.4% vs local median 3.7% in Gainesville — 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 66/100 on livability (#602 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: amenities F, commute F, employment F.
• Gainesville ISD (rural): math 33% / reading 29% proficiency, ranked #606 of 826 in TX (top 73%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: W E Chalmers El (math 28% / reading 24%, grade F, #2,954 of 4,322 statewide, top 69%, 716 students, 67% FRL) — zoned schools at 67% FRL track the district average.
• Market conditions: 462 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 190 units permitted in Cooke County in 2024 (0 in 5+ unit buildings).
• This rent runs 32% of the median local income ($72k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $968 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 203 days — a 12% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 19y ago; this cycle's ask has dropped $27k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: 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 $123,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 203 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.37% ✓
• Cap rate: 10.38%
• Cash-on-cash: 14.59%
• DSCR: 1.65
• GRM: 6.1

CMA / ARV

• ARV (on-the-fly): $204,340
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
316 Ritchey St	0.00mi	3/1.0	1,202 (0%)	1mo	$140,000	$116	99
315 N Morris St	0.22mi	3/2.0	1,200 (-0%)	2mo	$199,800	$167	84
811 Ritchey St	0.41mi	3/2.0	1,250 (+4%)	3mo	$235,000	$188	68
1103 Fair Ave	0.73mi	2/1.0 (-1)	1,206 (+0%)	3mo	$167,500	$139	58
1016 N Howeth St	0.65mi	2/1.0 (-1)	1,152 (-4%)	1mo	$100,000	$87	57
809 S Wine St	0.62mi	3/2.0	1,288 (+7%)	4mo	$174,000	$135	52
415 2nd St	0.64mi	3/2.0	1,232 (+2%)	12mo	$115,000	$93	52
1704 Harris St	0.70mi	2/1.0 (-1)	1,117 (-7%)	2mo	$220,000	$197	49
1209 E Garnett St	0.45mi	2/1.0 (-1)	1,058 (-12%)	11mo	$180,000	$170	45
1104 Fair Ave	0.74mi	3/2.0	1,140 (-5%)	11mo	$198,500	$174	43
333 N Red River St	0.74mi	2/1.0 (-1)	1,288 (+7%)	9mo	$232,550	$181	42
831 Lawrence St	0.60mi	2/2.0 (-1)	1,090 (-9%)	9mo	$185,000	$170	40

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: 5.1%
• Equity multiple: 1.20×
• Total profit: $7,741
• Equity at exit: $20,874

10-year hold

• IRR: 14.6%
• Equity multiple: 2.18×
• Total profit: $46,130
• Equity at exit: $12,105

Cash invested: $39,200 (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 76240

• Active inventory: 462
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,923 high
• Mortgage (P&I): −$734
• Tax from tax record: −$250 /mo · $2,999/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$404
• Net cashflow: $477

Break-even live

Break-even rent $1,320

Max offer price $140,000

Occupancy floor 70%

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
426 N Clements St Gainesville, TX	3.0	2.0	1408	$2,307	$1.64	43d	1	0.10mi
1010 E Main St Gainesville, TX	3.0	1.0	1263	$1,550	$1.23	43d	1	0.36mi
1610 Elizabeth St Gainesville, TX	3.0	1.0	1100	$1,500	$1.36	43d	1	0.39mi
1331 Lanius St Gainesville, TX	3.0	2.0	1300	$1,850	$1.42	43d	1	0.61mi
923 S Wine St Gainesville, TX	3.0	1.0	1216	$1,550	$1.27	43d	1	0.74mi

Listing history 19 events

1. 2026-05-15
   status Pending
2. 2026-05-13
   status Active
3. 2026-04-28
   historical Active Option Contract
4. 2026-04-04
   price $140,000
5. 2026-03-14
   status Active
6. 2026-03-03
   historical Active Option Contract
7. 2025-12-24
   status Active
8. 2025-12-18
   historical Active Option Contract
9. 2025-12-18
   status Active
10. 2025-12-17
    historical Active Option Contract
11. 2025-11-20
    price $144,465
12. 2025-10-22
    listed $167,000 Active
13. 2011-10-28
    soldstatus
14. 2007-09-14
    soldstatus
15. 2007-09-13
    soldstatus 307-char remark

    Show marketing remark (307 chars)

    Great first time home buyer or investment property. Additional appliances included are Refrigerator, Microwave, Washer and Dryer without guarantee or warranty of operation. All Furniture not marked also conveys with property. Buyer to verify all taxes, measurements, and schools. Property being sold as is.

16. 2007-08-25
    historical 307-char remark

    Show marketing remark (307 chars)

    Great first time home buyer or investment property. Additional appliances included are Refrigerator, Microwave, Washer and Dryer without guarantee or warranty of operation. All Furniture not marked also conveys with property. Buyer to verify all taxes, measurements, and schools. Property being sold as is.

17. 2007-05-31
    listed $49,900 307-char remark

    Show marketing remark (307 chars)

    Great first time home buyer or investment property. Additional appliances included are Refrigerator, Microwave, Washer and Dryer without guarantee or warranty of operation. All Furniture not marked also conveys with property. Buyer to verify all taxes, measurements, and schools. Property being sold as is.

18. 2003-01-20
    soldstatus
19. 2003-01-20
    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: $2,999 · $250/mo
• Projected year-2 tax: $2,999 · $250/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 7/10 Severe 7 d/yr ≥110°F today · 21 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 17% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,073
• − Mortgage interest: −$7,842
• − Property taxes: −$2,999
• − Insurance: −$700
• − Repairs & maintenance: −$1,846
• − Management: −$1,846
• − Depreciation: −$4,073
• Taxable income: $3,768
• Est. tax owed @ 24.0%: −$904
• After-tax cash flow: $4,815/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: Gainesville ISD
• NCES district ID: 4820220
• Math proficiency: 33% ▼ -9.00%
• Reading proficiency: 29% ▼ -2.00%
• Median HH income: $41,772
• Composite: 26.27/100
• National rank: #7252
• State rank: #606 of 826 in TX

Livability — Gainesville

• Score: 66/100
• State rank: #602
• US rank: #11445

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gainesville, TX
• County: Cooke County · 29,419 people
• City population: 29,419
• Metro: Gainesville, TX
• Population (ZIP): 29,419
• Household income: $71,502
• Rent vs Own: 32.6% rent · 67.4% own
• Severe rent burden: 660.0

Population outlook (Cooke County) Hauer SSP2

• Today (2025): 39,965 people
• By 2030: 39,974 · +0.0%
• By 2040: 39,772 · -0.5%
• By 2050: 39,258 · -1.8%
• By 2075: 37,262 · -6.8%
• By 2100: 33,363 · -16.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (66%)
• Race & ethnicity: White 66% Hispanic / Latino 24% Two or more races 14% Black 5%
• Hispanic origin (detail): Mexican 21%
• Common ancestry: Serbian 2% Lithuanian 2% Slovak 1%
• Foreign-born: 8% · Canada
• Languages at home: 83% English-only · Spanish 16% Other Indo-European 1%

Political lean MEDSL · Cooke

• 2024 margin: Solid R (+66.9) · D 16.2% · R 83.1%
• 2008→2024 swing: -8.2pp toward R · 2008: -58.7pp · 2024: -66.9pp
• All cycles: 2024: R+66.9 2020: R+65.2 2016: R+68.1 2012: R+67.6 2008: R+58.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -198.63%
• Current HPI: 247.3822
• Rent YoY: —
• Metro: Gainesville, 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

+180.6% since first listed

19 events — show timeline

• 2026-05-15 Pending — NTREIS
• 2026-05-13 Relisted — NTREIS
• 2026-04-28 Contingent — NTREIS
• 2026-04-04 Price Changed $140,000 NTREIS
• 2026-03-14 Relisted — NTREIS
• 2026-03-03 Contingent — NTREIS
• 2025-12-24 Relisted — NTREIS
• 2025-12-18 Contingent — NTREIS
• 2025-12-18 Relisted — NTREIS
• 2025-12-17 Contingent — NTREIS
• 2025-11-20 Price Changed $144,465 NTREIS
• 2025-10-22 Listed $167,000 NTREIS
• 2011-10-28 Sold (Public Records) — Public Records
• 2007-09-14 Sold (Public Records) — Public Records
• 2007-09-13 Sold (MLS) — NTREIS
• 2007-08-25 Listing Removed — NTREIS
• 2007-05-31 Listed $49,900 NTREIS
• 2003-01-20 Sold (Public Records) — Public Records
• 2003-01-20 Sold (Public Records) — Public Records

Property tax history

+8.4%/yr

Latest (2025): $2,999 · +10.4% YoY. Source: county tax records.