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Days18Days on Market
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$285,000

$305,000

391 County Road 147, Gainesville, TX, 76240

On MarketInfo
Price DropInfo
Beds2 Beds
Baths1 Bath
Baths1,100 Sq Ft
Single Family ResidenceSingle Family Residence
price_per_sqft$259.09 / sqft
Year BuiltBuilt in 2024

Property Lead Type:

Must-SellAbsentee OwnerHigh Equity

Highlights

Interior

Bedrooms 2Bedrooms 2
Bathrooms Full 1.5Bathrooms Full 1.5
AppliancesElectric Range
FlooringVinyl

Exterior

Exterior FeaturesBuilt-in Barbecue
Lot Size2.65 acres

Building Information

Roof Type105

Land Information

APN26356
SubdivisionBrothers E
Land UseResidential
Legal DescriptionBROTHERS E 0078 ACRES 2.65
Census Tract000100
Assessed Land Value$185,189
Assessed Improvement Value$98,406
Assessment Year2025

About this property

PRICE REDUCED, WE ARE COMPLETED WITH THE MASONRY STONE WORK AND READY FOR A NEW OWNER!!! SURROUNDED BY A 500 ACRE HORSE RANCH, AND IN THE HEART OF HORSE COUNTRY IN COOKE COUNTY TX, THIS AMAZING SMALL HOME HAS IT ALL!!! IF YOU ARE LOOKING FOR A SEASONAL HOME, A FULL TIME HOME OR A VACATION GETAWAY, TAKE A LOOK AT THIS SPACIOUS A FRAME ON 2.65 ACRES AND AMAZING WIDE OPEN FLOOR PLAN 2 BEDROOM, 2 BATH HOME - NEW TO THE STUDS AND JUST FINISHING THE FAUX SLATE STONE THAT WILL SURROUND THE ENTRIE BOTTON OF THE HOME. FRONT AND BACK COVERED PORCHES, OUTDOOR GRILL MOUNTED IN THE GROUND, ROCK DECOR AND PLENTY OF SPACE TO BUILD A SMALL BARN. EASY ACCESS TO US HWY 82, CALLISBURG SCHOOLS, 38 MIN TO LAKE RAY ROBERTS, 13 MIN TO GAINESVILLE, 5 MIN TO WHITESBORO, 20 MIN TO SHERMAN TX. HOME SITS BACK ON HILL FROM THE ROAD, GREAT FRONT YARD, TONS OF PRIVACY IN THE BACK. THE HOME WAS STRIPPPED DOWN TO THE BARE STUDS, UPDATED ELECTRICAL, NEW PLUMBING, NEW HVAC, NEW ROOF, NEW SIDING, NEW WINDOWS AND DOORS, NEW CABINETS, NEW FLOORING, NEW SEPTIC, NEW GRANITE, NEW WATER HEATER, 6 INCHES NEW FOAM INSULATION UNDERNEATH, 10 YEAR WARRANTY ON HVAC, 30 YEAR WARRANTY ON SHINGLES, 2 YEAR WARRANTY OF SEPTIC.

Investor Tools

$50,813Estimated Mortgage Balance
$251,415Estimated Equity
85% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$1,812 /month
Positive
Cash Flow Estimate:
$604 /month

Interested in this property?

Sara Jerome

Vincent Realty Group

ContactContact

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$185/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$715
$283,595
2025
$185,189
$98,406
$283,595
Yes (2024)

Tax History

Year
Tax Paid
Assessed Value
2024
$715
$283,595

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
First State Bank
Commercial
$51,335
No
First
Oct 24, 2025
Oct 2026

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$50,813
$296,187
85%
17%
$308/mo

Rental Potential

Est. Monthly Rent
Est. Monthly Expenses
Est. Cash Flow
Gross Yield
$1,050/mo
$308/mo
+$742/mo
4.2%

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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391 County Road 147 | Property Details | No Agent List