1408 Gratiot Dr · Greenville, TX 75402

$253,459

4 bd · 2.0 ba · 2,047 sqft · Other · 87 Days on market

Built 2026 5,750 sqft lot $124/sqft · 7% above area Est $237k · 7% over $4/mo HOA ↓ 11% 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 +14.5/30.0
• DSCR +4.4/10.0
• ARV discount +4.4/15.0
• Livability +3.9/5.0
• 1% rule +2.7/10.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Lennar's Aaron Floor Plan

Key facts

• 5,750 sq ft lot
• 2 garage spots
• Built 2026

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath other listed at $253k.

Deal economics

• At list price, monthly cash flow is $56 ($669/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 $195k (23.0% below list).
• Recommended offer: $195k (23.0% below list) — sets the bar for 1% rule.
• Cap rate 6.6% 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, schools 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.
• Market conditions: Rents soft (-1.0%/yr); 295 active listings in the ZIP; 38 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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).
• This rent runs 30% of the median local income ($78k/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 $2k of loan paydown is wiped out by about $8k 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 87 days — a 6% lower offer ($238k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts; this cycle's ask has dropped $21k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $195,140 (23.0% below list)

Questions for the listing agent

1. It's been on market 87 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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?
7. 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.
8. 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.
9. 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: 0.77% ✗
• Cap rate: 6.56%
• Cash-on-cash: 0.94%
• DSCR: 1.04
• GRM: 10.8

CMA / ARV

• ARV (median comp): $237,363
• List price: $253,459
• Delta: 6.78%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -17.8%
• Equity multiple: 0.39×
• Total profit: $-43,374
• Equity at exit: $37,792

10-year hold

• IRR: -15.9%
• Equity multiple: 0.21×
• Total profit: $-55,843
• Equity at exit: $21,915

Cash invested: $70,969 (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: 295
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $1,951 high
• Mortgage (P&I): −$1,329
• Tax from tax record: −$47 /mo · $565/yr
• Insurance: −$106
• HOA: −$4
• Vacancy / Maint / Mgmt: −$410
• Net cashflow: $56

Break-even live

Break-even rent $1,881

Max offer price $253,459

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: $63,365
• Closing costs: $7,604
• Reserves months: —
• Total cash needed: —

Rent comps 38 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
50021 Del Ra Dr Greenville, TX	3.0	1.5	1452	$1,700	$1.17	24d	1	0.20mi
1426 Thibodaux Dr Greenville, TX	3.0	2.0	1659	$1,850	$1.12	16d	1	0.41mi
6529 Graceland Dr Greenville, TX	3.0	2.0	1702	$1,875	$1.10	24d	1	0.43mi
1407 Thibodaux Dr Greenville, TX	4.0	2.5	2412	$2,200	$0.91	43d	1	0.43mi
512 Oakridge Dr Greenville, TX	3.0	3.0	1695	$1,700	$1.00	43d	1	0.68mi
328 Jamie Way Greenville, TX	3.0	2.0	1841	$2,150	$1.17	18d	1	0.69mi
6809 Topaz Dr Greenville, TX	3.0	3.0	2052	$1,995	$0.97	43d	1	0.78mi
6820 Topaz Dr Greenville, TX	3.0	2.5	1819	$900	$0.49	43d	1	0.81mi
6320 Stonewall St Greenville, TX	3.0	1.0–2.0	930	$1,725	$1.85	1d	1	0.86mi
6915 Justin Ln Greenville, TX	3.0	2.0	1405	$1,925	$1.37	21d	1	0.94mi
1012 Eva Dr Greenville, TX	3.0	2.0	1582	$1,895	$1.20	24d	1	1.02mi
1017 Eva Dr Greenville, TX	3.0	2.0	1582	$1,450	$0.92	43d	1	1.06mi
906 Tippit Ln Greenville, TX	3.0	2.0	1605	$1,900	$1.18	2d	1	1.08mi
804 Ransom Way Greenville, TX	3.0	2.0	1605	$1,900	$1.18	18d	1	1.14mi
802 Ransom Way Greenville, TX	3.0	2.0	1605	$1,900	$1.18	2d	1	1.14mi
708 Hardaway Ln Greenville, TX	3.0	2.0	1605	$1,900	$1.18	10d	1	1.19mi
4504 Stonewall St Greenville, TX	4.0	3.0	2212	$1,500	$0.68	43d	1	1.19mi
1001 Hardaway Dr Greenville, TX	3.0	2.0	1596	$1,850	$1.16	2d	1	1.22mi
1005 Hardaway Ln Greenville, TX	3.0	2.0	1605	$1,950	$1.21	1d	1	1.22mi
4105 Stuart St Greenville, TX	3.0	2.0	1558	$1,675	$1.08	16d	1	1.27mi
703 Moseley Ln Greenville, TX	3.0	2.0	1605	$1,890	$1.18	43d	1	1.28mi
706 Greyson Ln Greenville, TX	3.0	2.0	1605	$1,895	$1.18	43d	1	1.30mi
6002 Colorado St Greenville, TX	3.0	2.0	1692	$1,900	$1.12	21d	1	1.38mi
601 Beechwood Dr Greenville, TX	3.0	2.0	1890	$1,825	$0.97	24d	1	1.40mi
1421 Jones St Greenville, TX	3.0	2.0	1617	$1,750	$1.08	2d	1	1.41mi
1421 Jones St Greenville, TX	3.0	12.0	1618	$1,750	$1.08	24d	1	1.41mi
3104 Stanford St Greenville, TX	3.0	2.0	2988	$1,300	$0.44	7d	1	1.43mi
8503 Christie Ln Greenville, TX	3.0	2.0	1547	$1,995	$1.29	4d	1	1.44mi
102 Goel St Greenville, TX	4.0	2.0	1788	$1,975	$1.10	2d	1	1.44mi
710 Teakwood Dr Greenville, TX	4.0	2.0	1862	$2,095	$1.13	24d	1	1.44mi
110 Doma Ave Greenville, TX	4.0	2.0	1571	$1,740	$1.11	2d	1	1.44mi
102 Goel St Greenville, TX	4.0	2.0	1794	$1,975	$1.10	24d	1	1.44mi
102 Goel St Greenville, TX	4.0	2.0	1794	$1,975	$1.10	7d	1	1.44mi
8507 Christie Ln Greenville, TX	3.0	2.0	1581	$1,875	$1.19	20d	1	1.45mi
116 Doma Ave Greenville, TX	4.0	2.0	1788	$1,845	$1.03	2d	1	1.47mi
8511 Christie Ln Greenville, TX	3.0	2.0	1547	$1,895	$1.22	24d	1	1.47mi
112 Goel St Greenville, TX	4.0	2.0	1788	$1,835	$1.03	1d	1	1.49mi
621 Redwood Dr Greenville, TX	4.0	2.0	1710	$2,150	$1.26	43d	1	1.49mi

HOA detail

• Monthly dues: $4 · $48/yr

Listing history 25 events

1. 2026-06-01
   status $253,459 Pending 87 DOM
2. 2026-05-31
   days on market $253,459 Active 87 DOM
3. 2026-05-14
   price $253,459 25-char remark

   Show marketing remark (25 chars)

   Lennar's Aaron Floor Plan

4. 2026-05-10
   price $253,459 390-char remark

   Show marketing remark (390 chars)

   This new four-bedroom home offers convenient single-story living. Three bedrooms boast a private location near the front of the home, leading to an open-concept layout shared between the kitchen, living and dining areas. A versatile flex space is tucked away to the side, and a luxurious owner's suite is nestled into a private rear corner, complete with a full bathroom and walk-in closet.

5. 2026-04-25
   price $258,459 25-char remark

   Show marketing remark (25 chars)

   Lennar's Aaron Floor Plan

6. 2026-04-22
   price $258,459 390-char remark

   Show marketing remark (390 chars)

   This new four-bedroom home offers convenient single-story living. Three bedrooms boast a private location near the front of the home, leading to an open-concept layout shared between the kitchen, living and dining areas. A versatile flex space is tucked away to the side, and a luxurious owner's suite is nestled into a private rear corner, complete with a full bathroom and walk-in closet.

7. 2026-04-09
   price $261,459 390-char remark

   Show marketing remark (390 chars)

   This new four-bedroom home offers convenient single-story living. Three bedrooms boast a private location near the front of the home, leading to an open-concept layout shared between the kitchen, living and dining areas. A versatile flex space is tucked away to the side, and a luxurious owner's suite is nestled into a private rear corner, complete with a full bathroom and walk-in closet.

8. 2026-03-27
   price $270,459 390-char remark

   Show marketing remark (390 chars)

   This new four-bedroom home offers convenient single-story living. Three bedrooms boast a private location near the front of the home, leading to an open-concept layout shared between the kitchen, living and dining areas. A versatile flex space is tucked away to the side, and a luxurious owner's suite is nestled into a private rear corner, complete with a full bathroom and walk-in closet.

9. 2026-03-11
   price $273,459 25-char remark

   Show marketing remark (25 chars)

   Lennar's Aaron Floor Plan

10. 2026-03-07
    price $273,459 390-char remark

    Show marketing remark (390 chars)

    This new four-bedroom home offers convenient single-story living. Three bedrooms boast a private location near the front of the home, leading to an open-concept layout shared between the kitchen, living and dining areas. A versatile flex space is tucked away to the side, and a luxurious owner's suite is nestled into a private rear corner, complete with a full bathroom and walk-in closet.

11. 2026-03-05
    listed $274,459 Active 25-char remark

    Show marketing remark (25 chars)

    Lennar's Aaron Floor Plan

12. 2026-02-28
    historical
13. 2026-02-25
    price $274,459
14. 2026-02-24
    price $274,459 390-char remark

    Show marketing remark (390 chars)

    This new four-bedroom home offers convenient single-story living. Three bedrooms boast a private location near the front of the home, leading to an open-concept layout shared between the kitchen, living and dining areas. A versatile flex space is tucked away to the side, and a luxurious owner's suite is nestled into a private rear corner, complete with a full bathroom and walk-in closet.

15. 2026-02-13
    status Active 390-char remark

    Show marketing remark (390 chars)

    This new four-bedroom home offers convenient single-story living. Three bedrooms boast a private location near the front of the home, leading to an open-concept layout shared between the kitchen, living and dining areas. A versatile flex space is tucked away to the side, and a luxurious owner's suite is nestled into a private rear corner, complete with a full bathroom and walk-in closet.

16. 2025-12-23
    historical 390-char remark

    Show marketing remark (390 chars)

    This new four-bedroom home offers convenient single-story living. Three bedrooms boast a private location near the front of the home, leading to an open-concept layout shared between the kitchen, living and dining areas. A versatile flex space is tucked away to the side, and a luxurious owner's suite is nestled into a private rear corner, complete with a full bathroom and walk-in closet.

17. 2025-12-16
    status Active 390-char remark

    Show marketing remark (390 chars)

    This new four-bedroom home offers convenient single-story living. Three bedrooms boast a private location near the front of the home, leading to an open-concept layout shared between the kitchen, living and dining areas. A versatile flex space is tucked away to the side, and a luxurious owner's suite is nestled into a private rear corner, complete with a full bathroom and walk-in closet.

18. 2025-12-16
    price $278,459 390-char remark

    Show marketing remark (390 chars)

    This new four-bedroom home offers convenient single-story living. Three bedrooms boast a private location near the front of the home, leading to an open-concept layout shared between the kitchen, living and dining areas. A versatile flex space is tucked away to the side, and a luxurious owner's suite is nestled into a private rear corner, complete with a full bathroom and walk-in closet.

19. 2025-11-26
    price $278,459
20. 2025-11-26
    price $215,849
21. 2025-10-28
    historical 390-char remark

    Show marketing remark (390 chars)

    This new four-bedroom home offers convenient single-story living. Three bedrooms boast a private location near the front of the home, leading to an open-concept layout shared between the kitchen, living and dining areas. A versatile flex space is tucked away to the side, and a luxurious owner's suite is nestled into a private rear corner, complete with a full bathroom and walk-in closet.

22. 2025-10-28
    price $282,459

    Show marketing remark (390 chars)

    This new four-bedroom home offers convenient single-story living. Three bedrooms boast a private location near the front of the home, leading to an open-concept layout shared between the kitchen, living and dining areas. A versatile flex space is tucked away to the side, and a luxurious owner's suite is nestled into a private rear corner, complete with a full bathroom and walk-in closet.

23. 2025-10-27
    price $282,459 390-char remark

    Show marketing remark (390 chars)

    This new four-bedroom home offers convenient single-story living. Three bedrooms boast a private location near the front of the home, leading to an open-concept layout shared between the kitchen, living and dining areas. A versatile flex space is tucked away to the side, and a luxurious owner's suite is nestled into a private rear corner, complete with a full bathroom and walk-in closet.

24. 2025-10-27
    listed $284,459 Active

    Show marketing remark (390 chars)

    This new four-bedroom home offers convenient single-story living. Three bedrooms boast a private location near the front of the home, leading to an open-concept layout shared between the kitchen, living and dining areas. A versatile flex space is tucked away to the side, and a luxurious owner's suite is nestled into a private rear corner, complete with a full bathroom and walk-in closet.

25. 2025-10-25
    listed $284,459 Active 390-char remark

    Show marketing remark (390 chars)

    This new four-bedroom home offers convenient single-story living. Three bedrooms boast a private location near the front of the home, leading to an open-concept layout shared between the kitchen, living and dining areas. A versatile flex space is tucked away to the side, and a luxurious owner's suite is nestled into a private rear corner, complete with a full bathroom and walk-in closet.

ⓘ 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: $565 · $47/mo
• Projected year-2 tax: $4,638 · $387/mo
• Expected delta: +$4,073/yr (+$339/mo · 720.7%)

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

Taxation est. · year 1

• Rental income: $23,417
• − Mortgage interest: −$14,198
• − Property taxes: −$565
• − Insurance: −$1,267
• − Repairs & maintenance: −$1,873
• − Management: −$1,873
• − HOA: −$48
• − Depreciation: −$7,373
• Taxable loss: −$3,781
• Est. tax savings @ 24.0%: +$908
• After-tax cash flow: $1,576/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

-10.9% since first listed

23 events — show timeline

• 2026-05-14 Price Changed $253,459 NTREIS
• 2026-05-10 Price Changed $253,459 Zillow
• 2026-04-25 Price Changed $258,459 NTREIS
• 2026-04-22 Price Changed $258,459 Zillow
• 2026-04-09 Price Changed $261,459 Zillow
• 2026-03-27 Price Changed $270,459 Zillow
• 2026-03-11 Price Changed $273,459 NTREIS
• 2026-03-07 Price Changed $273,459 Zillow
• 2026-03-05 Listed $274,459 NTREIS
• 2026-02-28 Listing Removed — NTREIS
• 2026-02-25 Price Changed $274,459 NTREIS
• 2026-02-24 Price Changed $274,459 Zillow
• 2026-02-13 Relisted — Zillow
• 2025-12-23 Delisted — Zillow
• 2025-12-16 Relisted — Zillow
• 2025-12-16 Price Changed $278,459 Zillow
• 2025-11-26 Price Changed $278,459 NTREIS
• 2025-11-26 Price Changed $215,849 NTREIS
• 2025-10-28 Delisted — Zillow
• 2025-10-28 Price Changed $282,459 NTREIS
• 2025-10-27 Price Changed $282,459 Zillow
• 2025-10-27 Listed $284,459 NTREIS
• 2025-10-25 Listed $284,459 Zillow

Property tax history

+1.3%/yr

Latest (2025): $565 · +1.3% YoY. Source: county tax records.