901 N Howeth · Gainesville, TX 76240

$199,000

3 bd · 2.0 ba · 1,705 sqft · SingleFamily public records · 2 Days on market

Built 1945 7,841 sqft lot Est $225k · 12% under

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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 +14.7/30.0
• ARV discount +12.7/15.0
• DSCR +4.5/10.0
• 1% rule +3.8/10.0
• 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

Cute frame home with lots of room. Formal dining room and breakfast nook. Split bedrooms. Hardwood floors. Upstairs bedroom and loft area with 288+- sq. ft. Nice big yard with detached 1 car garage with opener and an open patio. Corner lot. Buyer to verify all information.

Key facts

• 7,841 sq ft lot
• Garage
• Built 1945

Property features AI

Finance

• Other: Listing status: Active; Possession at closing/funding; Listing agreement: Exclusive right to sell; Transaction type: For sale
• Financial info: Seller may carry financing (Owner will carry); Loan type listed as Treat As Clear; No second mortgage
• HOA & community: No homeowners association

Exterior

• Parking: Garage (1 covered space, 1 garage space)
• Utilities: City water; City sewer; Not in a municipal utility district
• Home design: Single-family residence; Attached property; Built in 1945; Two stories
• Construction: 1945 construction
• Exterior features: Lot less than 0.5 acre (approximately 0.18 acre); Subdivision: Lee; GPS-friendly directions

Interior

• Kitchen: No appliances included
• Bedrooms: 4 bedrooms (all on the main level); Primary bedroom on main level
• Bathrooms: 2 full bathrooms
• Interior features: Two-level interior with 6 total rooms; One living area and one dining area; No fireplaces; Other interior features
• Laundry & utility: No laundry appliances listed

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $199k.

Deal economics

• At list price, monthly cash flow is $51 ($612/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 $174k (12.5% below list).
• Recommended offer: $174k (12.5% below list) — sets the bar for 1% rule.
• Cap rate 6.6% 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: Edison El (683 students, 81% FRL).
• Market conditions: 462 active listings in the ZIP; 6 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 11y 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.
• Current owner paid $44k; list at $199k implies a 357% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $174,191 (12.5% below list)

Questions for the listing agent

1. Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 0.88% ✗
• Cap rate: 6.60%
• Cash-on-cash: 1.10%
• DSCR: 1.05
• GRM: 9.5

CMA / ARV

• ARV (on-the-fly): $225,060
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
901 Gladney St	0.06mi	4/2.0 (+1)	1,730 (+2%)	7mo	$125,000	$72	84
2005 Brentwood St	0.50mi	3/2.0	1,752 (+3%)	1mo	$268,000	$153	72
1112 Hillside Dr	0.47mi	3/2.0	1,734 (+2%)	6mo	$279,000	$161	70
1305 Hillcrest Blvd	0.40mi	3/3.0	1,786 (+5%)	3mo	$156,000	$87	67
1218 Fair Ave	0.44mi	3/1.0	1,616 (-5%)	7mo	$160,000	$99	61
2003 Oneal St	0.50mi	3/2.0	1,788 (+5%)	9mo	$248,000	$139	61
414 Willow Way	0.58mi	3/2.0	1,770 (+4%)	8mo	$258,500	$146	60
1109 Elmwood St	0.38mi	3/2.0	1,917 (+12%)	6mo	$199,000	$104	56
415 N Taylor St	0.57mi	3/2.0	1,832 (+7%)	11mo	$239,000	$130	52
1305 Belmont St	0.52mi	4/2.0 (+1)	1,824 (+7%)	12mo	$240,000	$132	50
1314 Magnolia St	0.60mi	3/2.0	1,906 (+12%)	10mo	$225,000	$118	44
408 Ashland Dr	0.65mi	3/2.0	1,518 (-11%)	9mo	$237,500	$156	44

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: -14.6%
• Equity multiple: 0.48×
• Total profit: $-29,004
• Equity at exit: $29,672

10-year hold

• IRR: -5.9%
• Equity multiple: 0.62×
• Total profit: $-21,094
• Equity at exit: $17,206

Cash invested: $55,720 (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: 9.5×

Monthly cashflow live

• Estimated rent: $1,742 high
• Mortgage (P&I): −$1,044
• Tax from tax record: −$199 /mo · $2,384/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$366
• Net cashflow: $51

Break-even live

Break-even rent $1,677

Max offer price $199,000

Occupancy floor 92%

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1610 Elizabeth St Gainesville, TX	3.0	1.0	1100	$1,500	$1.36	43d	1	0.15mi
426 N Clements St Gainesville, TX	3.0	2.0	1408	$2,307	$1.64	43d	1	0.44mi
1010 E Main St Gainesville, TX	3.0	1.0	1263	$1,550	$1.23	43d	1	0.82mi
1331 Lanius St Gainesville, TX	3.0	2.0	1300	$1,850	$1.42	43d	1	1.10mi
1000 Bella Vista Dr Gainesville, TX	3.0	2.0	1150	$1,536	$1.34	43d	1	1.11mi
923 S Wine St Gainesville, TX	3.0	1.0	1216	$1,550	$1.27	43d	1	1.23mi

Listing history 3 events

1. 2026-06-19
   days on market $199,000 Active 2 DOM
2. 2026-06-17
   remarks 699-char remark
3. 2026-06-17
   listed $199,000 Active 1 DOM

ⓘ 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: $2,384 · $199/mo
• Projected year-2 tax: $3,642 · $303/mo
• Expected delta: +$1,258/yr (+$105/mo · 52.8%)

ⓘ 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 6/10 Major 7 d/yr ≥110°F today · 20 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: $20,903
• − Mortgage interest: −$11,147
• − Property taxes: −$2,384
• − Insurance: −$995
• − Repairs & maintenance: −$1,672
• − Management: −$1,672
• − Depreciation: −$5,789
• Taxable loss: −$2,756
• Est. tax savings @ 24.0%: +$662
• After-tax cash flow: $1,273/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

+176.4% since first listed

14 events — show timeline

• 2026-06-17 Listed $199,000 NTREIS
• 2026-06-12 Listed for Rent $1,995 TURBOTENANT
• 2025-11-19 Sold (Public Records) — Public Records
• 2024-01-13 Rental Removed $2,195 APPFOLIO
• 2024-01-04 Price Changed $2,195 APPFOLIO
• 2023-12-24 Price Changed $2,295 APPFOLIO
• 2023-12-07 Listed for Rent $2,195 APPFOLIO
• 2022-12-21 Sold (Public Records) — Public Records
• 2019-07-01 Sold (Public Records) — Public Records
• 2015-10-14 Sold (Public Records) $43,500 Public Records
• 2015-10-12 Sold (MLS) — NTREIS
• 2015-09-01 Listing Removed — NTREIS
• 2015-07-06 Listed $72,000 NTREIS
• 2005-09-19 Sold (Public Records) — Public Records

Property tax history

+4.3%/yr

Latest (2025): $2,384 · +25.8% YoY. Source: county tax records.