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Gilmer 75644
702 Mitchell St
$275,000
● House - Off Market

702 Mitchell St

Gilmer, TX 75644
bedrooms
3 Beds
bathrooms
0 Bath
square feet
1,801 Ft²
$1,324
Est. Monthly

About This Property

Just in time for Summer, this three bedroom, two bath home in downtown Gilmer won't last long! This home has tons of charm and modern features. The main part of the home was built in the 1920's and an addition was added in the mid 1980's that incudes a covered patio with an outdoor grill that overlooks the in ground, saltwater pool. The exterior was bricked when the addition was built. The kitchen has been updated with modern appliances including a gas oven and cook top. The AC was replaced on 2010, the gas water heater in 2023. The roof was replaced and a privacy fence was built in 2019. A video surveillance system and smart controls for the heating and cooling systems have already been installed. Don't miss this one!
Unit Size
1,801 Ft²
Days on Market
-
Land Size
0.27 acres
Price per sqft
$150
Property Type
House
Property Taxes
-
HOA Dues
-
Year Built
1926

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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: 3 years ago (NTREIS #20587018)

Price History

Date / Event Date Event Price
May 15, 2024 Sold
Premium
Sold
Apr 12, 2024 Listed by BOLD Real Estate Group $269,500
Listed by BOLD Real Estate Group

Property Highlights

Garage
Air Conditioning
Fireplace

Building Info

Overview

    General

  • Year Built: 1926
  • Effective Year Built: 1926
  • 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: 3
  • Interior Walls Type: 0
  • Roof Shape Type: 1
  • Roof Cover Type: 3
  • Floor Cover: 0
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 7
  • Garage Square Area: 440
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 8

    Dimensions

  • Lot Size Square Feet: 11,879
  • Lot Size Depth Feet: 1,320
  • Lot Size Frontage Feet: 900
  • Total Building Area: 3,065
  • Gross Building Area: 3,065
  • Building Area: 3,065
  • Building Area Measurement: T

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 1
  • Heating: 3
  • Heated Square Feet: 1,801
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: MITCHELL ADDN
  • Land Acres: 0000000273
  • Standard Land Use Code: 1001
  • County Land Use Code: A4
  • Legal Description 1: LOT 1,2, BLK 3 MITCHELL ADDN S253 (A200) .2727 ACRES & HOUSE

Neighborhood

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

Geography

  • Account Number: S253-S02-C11-BL3LT1,2
  • Parcel: 2917
  • Block: 3
  • Lot: 1,2
  • Municipality: GILMER
  • Latitude: 32.7349
  • Longitude: -94.9502

    Address

  • Full Address: 702 Mitchell St
  • Address - House Number: 702
  • Address - Street Name: Mitchell
  • Address - Suffix Type: St
  • State: TX
  • City Name: Gilmer
  • Carrier Code: C003
  • 4-Digit Zip Code: 1621
  • Zip Code: 75644

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $274,257
  • Tax Rate Code Area: 230 C11 S0

    Appraisal Valuation

  • Standard Deviation: 0.4263
  • Valuation Date: Mar 20, 2024
  • Confidence Score: 14
  • Final Value: 156,272
  • High Value: 222,893
  • Low Value: 89,650

    Market Valuation

  • Market Total Value: $213,719
  • Market Land Value: $21,188
  • Market Improvement Value: $192,531

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $213,719
  • Assessed Land Value: $21,188
  • Assessed Improvements Value: $192,531

    Exemptions

  • Homeowner Exemption: Yes

    Sales

  • Current Sale Contract Date: Oct 31, 2014
  • Current Sale Recording Date: Nov 05, 2014
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 70
  • Current Sale Input Document Number: 201406904
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: Shawn Bryant, BOLD Real Estate Group
Last Updated: 3 years ago
Data Source: NTREIS MLS, MLS# 20587018
Details provided by NTREIS and may not match the public record

Frequently Asked Questions

When was property at 702 Mitchell Street built and last sold?
The property at 702 Mitchell Street was built in 1926 and last sold on Oct 31, 2014 for $40,000.
How much is this home worth?
The estimated value of the home located at 702 Mitchell Street is $269,528.
What are some comparable homes to 702 Mitchell Street?
There are currently no comparable homes to 702 Mitchell Street.
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