601 Walnut St · Gilmer, TX 75644

$125,000

2 bd · 1.0 ba · 1,248 sqft · SingleFamily public records · 164 Days on market

Built 1950 0.37 ac lot $100/sqft · 20% below area Est $157k · 20% under ↓ 7% since listing

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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).

• ARV discount +15.0/15.0
• Cash flow +13.6/30.0
• Appreciation +10.0/10.0
• 1% rule +4.1/10.0
• DSCR +4.1/10.0
• Schools +3.5/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Great Starter Home or Investment Opportunity! Priced to sell! This older home features 2 large bedrooms and 1 bathroom (which was recently updated), and is located in a nice, established neighborhood close to schools. Ideal for first-time buyers, this home offers an affordable path to homeownership with the opportunity to build equity through remodeling. While in need of updates, the property is currently comfortably livable, allowing buyers to make improvements over time. The fully fenced yard with convenient alley access from the backyard provides added privacy and functionality, and new windows bring in plenty of natural light. Great investment property.

Key facts

• Alley access
• Fenced yard
• New windows

Tags

• FENCED YARD
• ALLEY ACCESS
• NEW WINDOWS
• ESTABLISHED NEIGHBORHOOD

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $7 ($86/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 $114k (8.7% below list).
• Recommended offer: $110k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.4% vs local median 2.9% in Gilmer — 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 57/100 on livability (#1,257 in TX) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: schools D-, amenities F, commute F.
• Gilmer ISD (town): math 44% / reading 38% proficiency, ranked #372 of 826 in TX (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 207 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 34 units permitted in Upshur County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $13k of equity ($864 loan paydown + $12k appreciation (10.0% local appreciation)).
• Upshur County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 164 days — a 12% lower offer ($110k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y 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 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 45% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $110,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 164 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 1950 — 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 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?
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: 0.91% ✗
• Cap rate: 6.36%
• Cash-on-cash: 0.24%
• DSCR: 1.01
• GRM: 9.1

CMA / ARV

• ARV (median comp): $157,087
• List price: $125,000
• Delta: -20.43%
• Verdict: UNDERPRICED
• Comps: 15 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
105 Brooksy St	0.43mi	2/1.0	1,379 (+10%)	10mo	$149,900	$109	54
603 W Harrison St	0.48mi	2/1.0	1,110 (-11%)	8mo	$160,000	$144	52

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 24.5%
• Equity multiple: 2.96×
• Total profit: $68,569
• Equity at exit: $112,610

10-year hold

• IRR: 21.7%
• Equity multiple: 6.76×
• Total profit: $201,638
• Equity at exit: $242,848

Cash invested: $35,000 (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 75644

• Home prices YoY: 10.0%
• Active inventory: 207
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,141 medium
• Mortgage (P&I): −$656
• Tax from tax record: −$187 /mo · $2,244/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$240
• Net cashflow: $7

Break-even live

Break-even rent $1,132

Max offer price $125,000

Occupancy floor 94%

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
620 Mary St Gilmer, TX	3.0	1.0	1220	$1,200	$0.98	44d	1	0.08mi
300 Pecan St Unit 8 Gilmer, TX	2.0	1.0	875	$975	$1.11	44d	1	0.20mi

Listing history 19 events

1. 2026-06-19
   days on market $125,000 Active 164 DOM
2. 2026-06-18
   days on market $125,000 Active 163 DOM
3. 2026-06-17
   days on market $125,000 Active 162 DOM
4. 2026-06-16
   days on market $125,000 Active 161 DOM
5. 2026-06-15
   days on market $125,000 Active 160 DOM
6. 2026-06-14
   days on market $125,000 Active 158 DOM
7. 2026-06-13
   days on market $125,000 Active 157 DOM
8. 2026-06-10
   days on market $125,000 Active 155 DOM
9. 2026-06-09
   days on market $125,000 Active 154 DOM
10. 2026-06-08
    days on market $125,000 Active 153 DOM
11. 2026-06-07
    days on market $125,000 Active 152 DOM
12. 2026-06-05
    days on market $125,000 Active 149 DOM
13. 2026-06-03
    days on market $125,000 Active 148 DOM
14. 2026-06-02
    days on market $125,000 Active 147 DOM
15. 2026-06-01
    days on market $125,000 Active 146 DOM
16. 2026-05-31
    days on market $125,000 Active 145 DOM
17. 2026-05-30
    days on market $125,000 Active 144 DOM
18. 2026-01-06
    listed $125,000 Active 665-char remark

    Show marketing remark (665 chars)

    Great Starter Home or Investment Opportunity! Priced to sell! This older home features 2 large bedrooms and 1 bathroom (which was recently updated), and is located in a nice, established neighborhood close to schools. Ideal for first-time buyers, this home offers an affordable path to homeownership with the opportunity to build equity through remodeling. While in need of updates, the property is currently comfortably livable, allowing buyers to make improvements over time. The fully fenced yard with convenient alley access from the backyard provides added privacy and functionality, and new windows bring in plenty of natural light. Great investment property.

19. 2022-03-17
    listed $134,900

ⓘ 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: $2,244 · $187/mo
• Projected year-2 tax: $2,288 · $191/mo
• Expected delta: +$44/yr (+$4/mo · 2.0%)

ⓘ 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 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥111°F today · 25 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 45% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,697
• − Mortgage interest: −$7,002
• − Property taxes: −$2,244
• − Insurance: −$625
• − Repairs & maintenance: −$1,096
• − Management: −$1,096
• − Depreciation: −$3,636
• Taxable loss: −$2,002
• Est. tax savings @ 24.0%: +$480
• After-tax cash flow: $566/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: Gilmer ISD
• NCES district ID: 4820700
• Math proficiency: 44% ▼ -8.00%
• Reading proficiency: 38% ▼ -3.00%
• Median HH income: $46,724
• Composite: 35.04/100
• National rank: #5038
• State rank: #372 of 826 in TX

Livability — Gilmer

• Score: 57/100
• State rank: #1257
• US rank: #21903

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Gilmer, TX
• Population (ZIP): 12,785

Population outlook (Upshur County) Hauer SSP2

• Today (2025): 42,771 people
• By 2030: 43,788 · +2.4%
• By 2040: 45,574 · +6.6%
• By 2050: 46,683 · +9.1%
• By 2075: 49,137 · +14.9%
• By 2100: 47,457 · +11.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Black 11% Hispanic / Latino 10% Two or more races 10%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Serbian 4% Slovak 2% Lithuanian 2%
• Foreign-born: 2% · Canada, Philippines
• Languages at home: 95% English-only · Spanish 4% Chinese 1%

Political lean MEDSL · Upshur

• 2024 margin: Solid R (+71.0) · D 14.2% · R 85.2%
• 2008→2024 swing: -22.0pp toward R · 2008: -49.0pp · 2024: -71.0pp
• All cycles: 2024: R+71.0 2020: R+68.5 2016: R+68.0 2012: R+59.8 2008: R+49.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 27.46%
• Current HPI: 300.86
• 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

-7.3% since first listed

2 events — show timeline

• 2026-01-06 Listed $125,000 LAAR
• 2022-03-17 Listed $134,900 LAAR

Property tax history

+5.9%/yr

Latest (2025): $2,244 · -12.6% YoY. Source: county tax records.