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Gilmer 75644
206 Summit Drive
$142,400
● House - Off Market

206 Summit Drive

Gilmer, TX 75644
bedrooms
3 Beds
bathrooms
2 Baths
square feet
2,109 Ft²
$747
Est. Monthly

About This Property

HUD Owned Home FHA Case#511-352836 Sold AS-IS.  Great home in the heart of Gilmer! This home 2 large living spaces and a huge backyard including an in-ground pool. Convenient location just off State Highway 154, this property ensures easy access to the local high school and all other amenities the town has to offer. Come take a look before it is gone! Owner occupant buyers may be able to purchase this home with as little as $100 down when utilizing the HUD FHA sales incentive.
Unit Size
2,109 Ft²
Days on Market
-
Land Size
0.36 acres
Price per sqft
$72
Property Type
House
Property Taxes
-
HOA Dues
-
Year Built
1957

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Cap Rate Calculator

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Cap Rate 100% Occupancy
N/A (extreme outlier)

What does this mean?

Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.

How much can I actually make?

Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.

How is cap rate calculated?

Cap Rate = Net Operating Income (NOI) / Property Asset Value.

When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.

Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.

Last updated: 7 months ago (NTREIS #21133642)

Price History

Date / Event Date Event Price
Apr 9, 2026 Sold
Premium
Sold
Feb 12, 2026 In contract -
In contract
Jan 30, 2026 Price Decreased $152,000
↓ $38K (20%)
Price Decreased
Dec 18, 2025 Listed by NE Texas Regional Realty $190,000
Listed by NE Texas Regional Realty

Property Highlights

Air Conditioning
Fireplace

Building Info

Overview

    General

  • Year Built: 1957
  • Effective Year Built: 1957
  • Bedroom Count: 0
  • Bathroom Count: 1
  • Full Bathrooms: 1
  • Partial Bathrooms: 1
  • Building Condition: 0
  • Building Quality: 0
  • Construction Type: 0
  • Building Style: 0
  • Exterior Walls Type: 0
  • Interior Walls Type: 0
  • Roof Shape Type: 1
  • Roof Cover Type: 3
  • Floor Cover: 0
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 3
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 8

    Dimensions

  • Lot Size Square Feet: 15,507
  • Lot Size Frontage Feet: 0
  • Total Building Area: 3,168
  • Gross Building Area: 3,168
  • Building Area: 3,168
  • Building Area Measurement: T

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 1
  • Heating: 3
  • Heated Square Feet: 2,042
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: DELTA ACRES
  • Land Acres: 0000000356
  • Standard Land Use Code: 1015
  • County Land Use Code: A3
  • Legal Description 1: LOT 5, 6 5' OF, BLK D DELTA ACRES S151 (A3) .356 ACRES & HOUSE

Neighborhood

  • School District Name: Gilmer Independent School District
  • Census Tract: 950400

Geography

  • Account Number: S151-S02-C11-BLDLT5,6PT
  • Parcel: 5070
  • Block: D
  • Lot: 5,6
  • Municipality: GILMER
  • Latitude: 32.7272
  • Longitude: -94.9588

    Address

  • Full Address: 206 Summit Dr
  • Address - House Number: 206
  • Address - Street Name: Summit
  • Address - Suffix Type: Dr
  • State: TX
  • City Name: Gilmer
  • Carrier Code: R012
  • 4-Digit Zip Code: 7909
  • Zip Code: 75644

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $367,894
  • Tax Rate Code Area: 230 C11 S0

    Appraisal Valuation

  • Standard Deviation: 0.4263
  • Valuation Date: Mar 20, 2024
  • Confidence Score: 14
  • Final Value: 129,920
  • High Value: 185,306
  • Low Value: 74,533

    Market Valuation

  • Market Total Value: $182,970
  • Market Land Value: $41,870
  • Market Improvement Value: $141,100

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $182,970
  • Assessed Land Value: $41,870
  • Assessed Improvements Value: $141,100

    Sales

  • Current Sale Contract Date: Aug 27, 2010
  • Current Sale Recording Date: Aug 30, 2010
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 70
  • Current Sale Input Document Number: 201005860

    Financing

  • First Mortgage Financing Type: ADJ
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Request mortgage information redaction

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes

About Gilmer

Stats & Trends

Median Asking:

$226,445

Sale Price/ft²

$113

Below Asking

0.03%

Average Days on Market

82

Average Home Size

1539 ft²

Average Home Age

70.2 years

Currently For Sale

5 Listings
Based on RH Advisors, Inc. calculations of home data from MLS and/or public records.

Similar Homes for Sale

Currently no similar homes around

Nearby Rentals

Unit for rent at 800 Bradford Street, Gilmer, TX, 75644

$675 /mo

  • 1 Bed
  • 1 Bath
800 Bradford Street, Gilmer, TX, 75644 Listing by Rick Rivera
Unit for rent at 1276 Hwy 155 N, TX, 75644

$685 /mo

  • 1 Bed
  • 1 Bath
1276 Hwy 155 N, TX, 75644 Listing by Rick Rivera

Rentals Near You

Click here to view more rentals in the neighborhood.
NTREIS

Listed by: Kevin Riney, NE Texas Regional Realty
Last Updated: 7 months ago
Data Source: NTREIS MLS, MLS# 21133642
Details provided by NTREIS and may not match the public record

Frequently Asked Questions

When was property at 206 Summit Drive built and last sold?
The property at 206 Summit Drive was built in 1957 and last sold on Aug 27, 2010 for $86,700.
How much is this home worth?
The estimated value of the home located at 206 Summit Drive is $0.
What are some comparable homes to 206 Summit Drive?
There are currently no comparable homes to 206 Summit Drive.
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