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B+
NoAgentList RatingHow are grades calculated? Info
Days25Days on Market
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$239,000

$258,000

206 Ritchey St, Gainesville, TX, 76240

On MarketInfo
Price DropInfo
Beds3 Beds
Baths2 Bath
Baths1,680 Sq Ft
Single Family ResidenceSingle Family Residence
price_per_sqft$142.26 / sqft
Year BuiltBuilt in 1950

Property Lead Type:

Must-SellAbsentee OwnerHigh Equity

Highlights

Interior

Bedrooms 3Bedrooms 3
Bathrooms Full 2Bathrooms Full 2
Indoor FireplaceIndoor Fireplace
Garage AvailableGarage Available
Heating CentralHeating Central
AppliancesDishwasher, Gas Range, Gas Water Heater, Refrigerator
FlooringCarpet, Vinyl

Exterior

Exterior FeaturesPrivate Entrance, Private Yard, Storage, Garden
Lot Size18,300 sqft

Building Information

Year Built1950
Roof Type105
Garage Spaces6

Land Information

APN12949
Lot Number3S1
SubdivisionClements I
Land UseResidential
Legal DescriptionCLEMENTS I; BLOCK 4; LOT 3 S 1/2
Census Tract000600
Assessed Land Value$50,972
Assessed Improvement Value$177,380
Assessment Year2025

About this property

Step into timeless charm and endless possibilities with this delightful vintage bungalow situated on a huge corner lot! Filled with character and warmth, this inviting home features a spacious living area with cozy fireplace, charming kitchen with beautiful oak cabinetry, three bedrooms, and two full baths. Enjoy relaxing mornings on the covered front porch with stunning arch detailing, or unwind in the oversized backyard surrounded by perimeter fencing, lush flower gardens, and mature shade trees. Need room for hobbies, toys, or projects? The impressive 30x33 metal shop and additional covered parking offer the perfect setup for a workshop, storage, or recreational space. This property blends classic charm with functional space both inside and out… a rare opportunity with room to live, work, and play!

Investor Tools

Property Icon
$223,835
Estimated Property Value
$0Estimated Mortgage Balance
$223,835Estimated Equity
100% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$1,434 /month
Positive
Cash Flow Estimate:
$478 /month

Interested in this property?

MISTY SCHMITZ

TIERRA REAL ESTATE

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$188/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$1,142
$223,835
2025
$50,972
$177,380
$228,352
Yes (2024)

Tax History

Year
Tax Paid
Assessed Value
2024
$1,142
$223,835

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
N/A
$233,000
100%
0%
$0/mo

Rental Potential

Est. Monthly Rent
Est. Monthly Expenses
Est. Cash Flow
Gross Yield
$1,420/mo
N/A
+$1,420/mo
7.6%

Learn About the Market: Opportunity in Texas

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Explore

Texas

Living in Texas means access to four of the nation’s most dynamic metro economies — Dallas–Fort Worth’s corporate and logistics powerhouse, Houston’s global energy and medical hub, Austin’s tech-driven and culturally iconic Live Music Capital of the World, and San Antonio’s historic yet steadily expanding military and healthcare center. The state blends economic scale with cultural significance, rooted in independence, entrepreneurship, and a strong sense of place — from Friday night football to world-renowned barbecue and music festivals. For homebuyers, Texas offers comparatively attainable housing, no personal income tax, and master-planned communities built around space and convenience; for investors, continued population growth, business relocation, and diversified industries create sustained demand across urban cores, suburbs, and emerging secondary markets.

Explore Texas Explore This Area
Population Growth

Population Growth

~1.3% annually

Net Migration

Net Migration

Positive

Median Home Price

Median Home Price

$283,800

Unemployment Rate

Unemployment Rate

4.3%

Price Trend

Price Trend

Flat

New Permits

New Permits

158,121

City: Gainesville

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