812 N Waldrip St · Grand Saline, TX 75140

$180,000

3 bd · 2.0 ba · 1,632 sqft · SingleFamily public records · 361 Days on market

Built 1957 2.74 ac lot $110/sqft · at area comps Est $177k · at est. ↓ 14% 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 +10.3/30.0
• ARV discount +6.7/15.0
• Appreciation +6.3/10.0
• 1% rule +4.0/10.0
• Livability +3.2/5.0
• Schools +3.0/10.0
• DSCR +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Don’t miss this rare chance to own a 3 bedroom, 2 bath home on 2.7± acres with city utilities just on the edge of town! This property offers endless potential for investors, flippers, or buyers ready to renovate and create their dream home. The home is habitable but ready for updates, making it the perfect equity builder. Highlights include a spacious floor plan with wood floors, mature and decorative trees for added charm, a peaceful pond at the back of the property which according to seller is spring fed, partial fencing and multiple outbuildings, ample room for horses, chickens, goats, or other homestead and gardening projects. With its desirable location, utilities in place, and acreage, this property is a smart buy with strong long term potential. Sold As Is. Buyer to verify all information. Bring your vision and unlock the possibilities; properties with this much land and city services are hard to find!

Key facts

• City utilities
• Room for a horse
• Partial fencing

Tags

• CITY UTILITIES
• MATURE AND DECORATIVE TREES
• POND AT THE BACK
• PARTIAL FENCING
• OUTBUILDINGS
• ROOM FOR A HORSE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $-100 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $162k (9.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $162k (10.2% below list).
• Recommended offer: $158k (12.0% below list) — sets the bar for market timing.
• Cap rate 5.6% vs local median 3.0% in Grand Saline — 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 64/100 on livability (#800 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: amenities F, commute F, employment F.
• Grand Saline ISD (town): math 38% / reading 33% proficiency, ranked #520 of 826 in TX (top 63%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Grand Saline El (308 students, 68% FRL); Grand Saline Middle (math 37% / reading 32%, grade F, #858 of 1,662 statewide, top 54%, 273 students, 59% FRL); Grand Saline H S (math 37% / reading 37%, grade F, #897 of 1,632 statewide, top 57%, 341 students, 51% FRL).
• Market conditions: 147 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; 54 units permitted in Van Zandt County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($1k loan paydown + $5k appreciation (2.7% local appreciation)).
• Van Zandt County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 6, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 361 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $30k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $158,400 (12.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 361 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1957 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.90% ✗
• Cap rate: 5.63%
• Cash-on-cash: -2.38%
• DSCR: 0.89
• GRM: 9.3

CMA / ARV

• ARV (median comp): $176,820
• List price: $180,000
• Delta: 1.80%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
312 N Richardson St	0.39mi	4/2.0 (+1)	1,612 (-1%)	1mo	$189,500	$118	74
622 W Jordan	0.33mi	3/2.0	1,632 (0%)	19mo	$170,000	$104	69
1000 N Waldrip St	0.22mi	3/2.0	1,822 (+12%)	2mo	$320,000	$176	69
704 N Florence	0.24mi	3/2.0	1,803 (+10%)	7mo	$245,000	$136	66
621 N Florence St	0.22mi	4/2.0 (+1)	1,672 (+2%)	20mo	$139,900	$84	64
905 W Wolfe	0.16mi	4/2.0 (+1)	1,464 (-10%)	16mo	$65,000	$44	57
1104 Florence	0.29mi	3/1.0	1,472 (-10%)	16mo	$174,900	$119	53
701 N Florence St	0.21mi	4/2.0 (+1)	1,796 (+10%)	21mo	$170,000	$95	51
918 N Spring St	0.66mi	3/2.0	1,790 (+10%)	12mo	$289,000	$161	43

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

Projected returns pro-forma

2.69% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 4.4%
• Equity multiple: 1.25×
• Total profit: $12,509
• Equity at exit: $77,829

10-year hold

• IRR: 7.7%
• Equity multiple: 2.14×
• Total profit: $57,293
• Equity at exit: $117,583

Cash invested: $50,400 (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 75140

• Home prices YoY: 1.3%
• Active inventory: 147
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,616 medium
• Mortgage (P&I): −$944
• Tax from tax record: −$358 /mo · $4,290/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$339
• Net cashflow: $-100

Break-even live

Break-even rent $1,742

Max offer price $162,358

Occupancy floor —

Sensitivity live

Price	-10% $2	-5% $-49	+0% $-100	+5% $-151	+10% $-202
Rent	-10% $-228	-5% $-164	+0% $-100	+5% $-36	+10% $28
Rate	-1.0pp $-9	-0.5pp $-54	base $-100	+0.5pp $-147	+1.0pp $-194

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1610 W Frank St Grand Saline, TX	3.0	1.0	1288	$1,765	$1.37	45d	1	0.55mi
1024 N Spring St Grand Saline, TX	3.0	2.0	1453	$1,500	$1.03	45d	1	0.70mi
543 Bradburn Rd Unit 101 Grand Saline, TX	2.0	1.0	1169	$1,500	$1.28	15d	1	1.21mi

Listing history 8 events

1. 2025-12-03
   price $180,000 935-char remark

   Show marketing remark (935 chars)

   Don’t miss this rare chance to own a 3 bedroom, 2 bath home on 2.7± acres with city utilities just on the edge of town! This property offers endless potential for investors, flippers, or buyers ready to renovate and create their dream home. The home is habitable but ready for updates, making it the perfect equity builder. Highlights include a spacious floor plan with wood floors, mature and decorative trees for added charm, a peaceful pond at the back of the property which according to seller is spring fed, partial fencing and multiple outbuildings, ample room for horses, chickens, goats, or other homestead and gardening projects. With its desirable location, utilities in place, and acreage, this property is a smart buy with strong long term potential. Sold As Is. Buyer to verify all information. Bring your vision and unlock the possibilities; properties with this much land and city services are hard to find!

2. 2025-12-02
   price $180,000 935-char remark

   Show marketing remark (935 chars)

   Don’t miss this rare chance to own a 3 bedroom, 2 bath home on 2.7± acres with city utilities just on the edge of town! This property offers endless potential for investors, flippers, or buyers ready to renovate and create their dream home. The home is habitable but ready for updates, making it the perfect equity builder. Highlights include a spacious floor plan with wood floors, mature and decorative trees for added charm, a peaceful pond at the back of the property which according to seller is spring fed, partial fencing and multiple outbuildings, ample room for horses, chickens, goats, or other homestead and gardening projects. With its desirable location, utilities in place, and acreage, this property is a smart buy with strong long term potential. Sold As Is. Buyer to verify all information. Bring your vision and unlock the possibilities; properties with this much land and city services are hard to find!

3. 2025-07-01
   price $199,000 935-char remark

   Show marketing remark (935 chars)

   Don’t miss this rare chance to own a 3 bedroom, 2 bath home on 2.7± acres with city utilities just on the edge of town! This property offers endless potential for investors, flippers, or buyers ready to renovate and create their dream home. The home is habitable but ready for updates, making it the perfect equity builder. Highlights include a spacious floor plan with wood floors, mature and decorative trees for added charm, a peaceful pond at the back of the property which according to seller is spring fed, partial fencing and multiple outbuildings, ample room for horses, chickens, goats, or other homestead and gardening projects. With its desirable location, utilities in place, and acreage, this property is a smart buy with strong long term potential. Sold As Is. Buyer to verify all information. Bring your vision and unlock the possibilities; properties with this much land and city services are hard to find!

4. 2025-07-01
   price $199,000 935-char remark

   Show marketing remark (935 chars)

   Don’t miss this rare chance to own a 3 bedroom, 2 bath home on 2.7± acres with city utilities just on the edge of town! This property offers endless potential for investors, flippers, or buyers ready to renovate and create their dream home. The home is habitable but ready for updates, making it the perfect equity builder. Highlights include a spacious floor plan with wood floors, mature and decorative trees for added charm, a peaceful pond at the back of the property which according to seller is spring fed, partial fencing and multiple outbuildings, ample room for horses, chickens, goats, or other homestead and gardening projects. With its desirable location, utilities in place, and acreage, this property is a smart buy with strong long term potential. Sold As Is. Buyer to verify all information. Bring your vision and unlock the possibilities; properties with this much land and city services are hard to find!

5. 2025-06-01
   listed $210,000 Active 935-char remark

   Show marketing remark (935 chars)

   Don’t miss this rare chance to own a 3 bedroom, 2 bath home on 2.7± acres with city utilities just on the edge of town! This property offers endless potential for investors, flippers, or buyers ready to renovate and create their dream home. The home is habitable but ready for updates, making it the perfect equity builder. Highlights include a spacious floor plan with wood floors, mature and decorative trees for added charm, a peaceful pond at the back of the property which according to seller is spring fed, partial fencing and multiple outbuildings, ample room for horses, chickens, goats, or other homestead and gardening projects. With its desirable location, utilities in place, and acreage, this property is a smart buy with strong long term potential. Sold As Is. Buyer to verify all information. Bring your vision and unlock the possibilities; properties with this much land and city services are hard to find!

6. 2025-05-31
   listed $210,000 Active 935-char remark

   Show marketing remark (935 chars)

   Don’t miss this rare chance to own a 3 bedroom, 2 bath home on 2.7± acres with city utilities just on the edge of town! This property offers endless potential for investors, flippers, or buyers ready to renovate and create their dream home. The home is habitable but ready for updates, making it the perfect equity builder. Highlights include a spacious floor plan with wood floors, mature and decorative trees for added charm, a peaceful pond at the back of the property which according to seller is spring fed, partial fencing and multiple outbuildings, ample room for horses, chickens, goats, or other homestead and gardening projects. With its desirable location, utilities in place, and acreage, this property is a smart buy with strong long term potential. Sold As Is. Buyer to verify all information. Bring your vision and unlock the possibilities; properties with this much land and city services are hard to find!

7. 2019-06-14
   soldstatus
8. 1991-05-01
   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: $4,290 · $358/mo
• Projected year-2 tax: $4,290 · $358/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 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥110°F today · 24 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $19,392
• − Mortgage interest: −$10,083
• − Property taxes: −$4,290
• − Insurance: −$900
• − Repairs & maintenance: −$1,551
• − Management: −$1,551
• − Depreciation: −$5,236
• Taxable loss: −$4,221
• Est. tax savings @ 24.0%: +$1,013
• After-tax cash flow: $-185/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: Grand Saline ISD
• NCES district ID: 4821450
• Math proficiency: 38% ▼ -2.00%
• Reading proficiency: 33% ▼ -7.00%
• Median HH income: $41,621
• Composite: 29.99/100
• National rank: #6365
• State rank: #520 of 826 in TX

Livability — Grand Saline

• Score: 64/100
• State rank: #800
• US rank: #14580

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Grand Saline, TX
• Population (ZIP): 8,596

Population outlook (Van Zandt County) Hauer SSP2

• Today (2025): 55,634 people
• By 2030: 56,479 · +1.5%
• By 2040: 57,672 · +3.7%
• By 2050: 57,913 · +4.1%
• By 2075: 57,544 · +3.4%
• By 2100: 52,659 · -5.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Hispanic / Latino 28% Two or more races 9%
• Hispanic origin (detail): Mexican 27%
• Common ancestry: Slovak 2% Serbian 1% Italian 1%
• Foreign-born: 13% · Canada
• Languages at home: 75% English-only · Spanish 25%

Political lean MEDSL · Van Zandt

• 2024 margin: Solid R (+74.8) · D 12.3% · R 87.2%
• 2008→2024 swing: -19.8pp toward R · 2008: -55.1pp · 2024: -74.8pp
• All cycles: 2024: R+74.8 2020: R+72.1 2016: R+72.1 2012: R+66.6 2008: R+55.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.69%
• Current HPI: 215.5979
• 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

-14.3% since first listed

8 events — show timeline

• 2025-12-03 Price Changed $180,000 NTREIS
• 2025-12-02 Price Changed $180,000 GTAR
• 2025-07-01 Price Changed $199,000 NTREIS
• 2025-07-01 Price Changed $199,000 GTAR
• 2025-06-01 Listed $210,000 GTAR
• 2025-05-31 Listed $210,000 NTREIS
• 2019-06-14 Sold (Public Records) — Public Records
• 1991-05-01 Sold (Public Records) — Public Records

Property tax history

+13.9%/yr

Latest (2025): $4,290 · +32.8% YoY. Source: county tax records.