509 Saunders St · Gatesville, TX 76528

$116,399

3 bd · 2.0 ba · 1,238 sqft · SingleFamily public records · 409 Days on market

Built 1884 0.58 ac lot $94/sqft · 33% below area Est $173k · 33% under

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Why this score? — see what drove the C+ 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 +24.6/30.0
• ARV discount +15.0/15.0
• DSCR +8.0/10.0
• 1% rule +5.5/10.0
• 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

INVESTORS! 509 Saunders St is a fantastic investment opportunity in Central Texas! This home was built in the 1884 and carries a traditional layout that you can build off of and renovate to your personal liking. One of the standout features of this home is the extended front porch area that overlooks the huge yard. The property also sits on over half an acre of land giving you ample yard space. It is being sold AS IS but has a lot of potential. WE MAKE IT EASY TO OWN. This is a great opportunity! Don't wait, call us today to get more information on the owner's easy terms and smooth process that may be able to put the deed in your name and make this your dream home.

Key facts

• Huge yard
• Over half an acre
• Extended front porch

Tags

• EXTENDED FRONT PORCH
• HUGE YARD
• OVER HALF AN ACRE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $116k.

Deal economics

• At list price, monthly cash flow is $241 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $116k).
• Recommended offer: $102k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.8% 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; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $805 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 409 days — a 12% lower offer ($102k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 19y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1884 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 45% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $102,431 (12.0% below list)

Questions for the listing agent

1. It's been on market 409 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 1884 — 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: 1.05% ✓
• Cap rate: 8.78%
• Cash-on-cash: 8.88%
• DSCR: 1.40
• GRM: 7.9

CMA / ARV

• ARV (median comp): $172,619
• List price: $116,399
• Delta: -32.57%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1407 Mill St	0.60mi	3/2.0	1,226 (-1%)	5mo	$235,000	$192	67
1208 Mills St	0.49mi	3/2.0	1,314 (+6%)	1mo	$230,000	$175	66
1210 Mills St	0.49mi	3/2.0	1,314 (+6%)	1mo	$230,000	$175	66
502 S 5th St	0.29mi	2/1.0 (-1)	1,138 (-8%)	1mo	$153,000	$134	63
609 S 7th St	0.45mi	3/2.0	1,104 (-11%)	15mo	$176,640	$160	48
300 S 5th St	0.24mi	2/1.0 (-1)	1,120 (-10%)	23mo	$175,000	$156	45
1417 Pleasant St	0.62mi	2/1.0 (-1)	1,176 (-5%)	12mo	$100,000	$85	44
1500 E Main St	0.56mi	2/1.0 (-1)	1,083 (-12%)	4mo	$138,500	$128	41
1408 Pleasant St	0.59mi	2/1.0 (-1)	1,070 (-14%)	2mo	$146,900	$137	39

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: -2.9%
• Equity multiple: 0.89×
• Total profit: $-3,527
• Equity at exit: $17,355

10-year hold

• IRR: 6.8%
• Equity multiple: 1.51×
• Total profit: $16,595
• Equity at exit: $10,064

Cash invested: $32,592 (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: 7.9×

Monthly cashflow live

• Estimated rent: $1,227 medium
• Mortgage (P&I): −$610
• Tax from tax record: −$69 /mo · $833/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$258
• Net cashflow: $241

Break-even live

Break-even rent $922

Max offer price $116,399

Occupancy floor 75%

Sensitivity live

Price	-10% $307	-5% $274	+0% $241	+5% $208	+10% $175
Rent	-10% $144	-5% $193	+0% $241	+5% $290	+10% $338
Rate	-1.0pp $300	-0.5pp $271	base $241	+0.5pp $211	+1.0pp $180

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: $29,100
• Closing costs: $3,492
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1605 Saunders St Gatesville, TX	2.0	1.0	800	$850	$1.06	14d	1	0.68mi
1605 Saunders St Unit 7 Gatesville, TX	2.0	1.0	700	$825	$1.18	14d	1	0.68mi
2115 Waco St Unit G Gatesville, TX	2.0	1.0	800	$850	$1.06	14d	1	0.99mi
114 Oak Lane Dr Gatesville, TX	3.0	2.0	1170	$1,550	$1.32	14d	1	1.31mi

Listing history 22 events

1. 2026-06-18
   days on market $116,399 Active 409 DOM
2. 2026-06-17
   days on market $116,399 Active 408 DOM
3. 2026-06-16
   days on market $116,399 Active 407 DOM
4. 2026-06-15
   days on market $116,399 Active 406 DOM
5. 2026-06-14
   days on market $116,399 Active 404 DOM
6. 2026-06-13
   days on market $116,399 Active 403 DOM
7. 2026-06-10
   days on market $116,399 Active 401 DOM
8. 2026-06-09
   days on market $116,399 Active 400 DOM
9. 2026-06-08
   days on market $116,399 Active 399 DOM
10. 2026-06-07
    days on market $116,399 Active 398 DOM
11. 2026-06-05
    days on market $116,399 Active 395 DOM
12. 2026-06-03
    days on market $116,399 Active 394 DOM
13. 2026-06-02
    days on market $116,399 Active 393 DOM
14. 2026-06-01
    days on market $116,399 Active 392 DOM
15. 2026-05-31
    days on market $116,399 Active 391 DOM
16. 2026-05-30
    days on market $116,399 Active 390 DOM
17. 2025-05-05
    listed $116,399 Active 673-char remark

    Show marketing remark (673 chars)

    INVESTORS! 509 Saunders St is a fantastic investment opportunity in Central Texas! This home was built in the 1884 and carries a traditional layout that you can build off of and renovate to your personal liking. One of the standout features of this home is the extended front porch area that overlooks the huge yard. The property also sits on over half an acre of land giving you ample yard space. It is being sold AS IS but has a lot of potential. WE MAKE IT EASY TO OWN. This is a great opportunity! Don't wait, call us today to get more information on the owner's easy terms and smooth process that may be able to put the deed in your name and make this your dream home.

18. 2008-07-09
    soldstatus
19. 2008-03-31
    historical
20. 2007-09-15
    listed $38,000
21. 2007-05-08
    soldstatus
22. 2001-05-25
    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: $833 · $69/mo
• Projected year-2 tax: $2,130 · $178/mo
• Expected delta: +$1,297/yr (+$108/mo · 155.6%)

ⓘ 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 7 d/yr ≥108°F today · 23 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 45% 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: $14,727
• − Mortgage interest: −$6,520
• − Property taxes: −$833
• − Insurance: −$582
• − Repairs & maintenance: −$1,178
• − Management: −$1,178
• − Depreciation: −$3,386
• Taxable income: $1,049
• Est. tax owed @ 24.0%: −$252
• After-tax cash flow: $2,643/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

+206.3% since first listed

6 events — show timeline

• 2025-05-05 Listed $116,399 HARMLS
• 2008-07-09 Sold (Public Records) — Public Records
• 2008-03-31 Listing Removed — CTXMLS
• 2007-09-15 Listed $38,000 CTXMLS
• 2007-05-08 Sold (Public Records) — Public Records
• 2001-05-25 Sold (Public Records) — Public Records

Property tax history

+5.9%/yr

Latest (2025): $833 · -68.3% YoY. Source: county tax records.