ActiveResidential · sale

506 Gresham

Smithville, TX 78957

$650,000

  • 3 beds
  • 3 baths
  • 3,176 sq ft
  • 0.19 acres
  • Built 1936

Listed by Moreland Properties · MLS #ACT3367423

506 Gresham, Smithville, TX 78957 — photo 1 View full photo
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A FEW THINGS TO NOTICE

What stands out.

Year built

Built in 1936.

Garage parking

2 garage spaces listed.

Property size

0.19 acres listed.

Highlights from the listing description and property details. Confirm features with the listing agent.

THE PROPERTY

Get to know the property.

Located in the heart of the Historic District in downtown Smithville, this beautifully restored 1930s home blends timeless character with the comfort and quality of modern construction. Purchased in 2020 and extensively rebuilt by the current owner, the home preserves its original charm while living like a brand-new residence.
Thoughtfully updated throughout, the property features new siding and exterior paint, all-new Marvin double-hung windows with custom screens, upgraded electrical systems, and completely new plumbing, lighting, and interior finishes. White oak flooring runs throughout the first floor, complemented by custom cabinetry and a beautifully updated kitchen featuring stainless KitchenAid appliances.
The detached garage was completely rebuilt and offers abundant storage along with a 50-amp outlet ready for electric vehicle charging. Adding even more versatility and value, the property also includes a stunning oversized one-bedroom, one-bath apartment with a full kitchen and living area — ideal for guests, rental income, or a private home office setup.
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THE NEIGHBORHOOD

Explore the location.

506 Gresham, Smithville, TX 78957

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THE DETAILS

The details, all in one place.

Property type
Residential
Category
Residential
Year built
1936
Full baths
2
Half baths
1
Garage spaces
2
Cooling
Ceiling Fan(s), Central Air, Wall/Window Unit(s)
Heating
Central, Fireplace(s), Natural Gas
Appliances
Dishwasher, Disposal, Electric Cooktop, Gas Range, Free-Standing Gas Oven, Gas Oven, Free-Standing Gas Range, Free-Standing Refrigerator, Stainless Steel Appliance(s), Vented Exhaust Fan, Water Heater, Tankless Water Heater
Flooring
Laminate, Tile, Wood
Fencing
Back Yard, Partial, Wood
Accessibility
None
Pool features
None
Subdivision
Burleson
Parcel
21909
Elementary school
Brown Primary
Middle school
Smithville
High school
Smithville
Annual property tax
$8,736.25

Features and school information are supplied by the listing source. Confirm measurements, school assignments, HOA terms and rental restrictions before making a decision.

OWNERSHIP, WITH A PLAN

Investor outlook.

Explore this property’s rental potential with an all-cash purchase. Monthly rent starts at 5% of the purchase price per year, divided by 12. Adjust it and the other assumptions to explore your scenario.

These are planning assumptions, not a rental appraisal or a loan quote. The starting rent is a price-based estimate; a local leasing professional can help confirm market rent.

Investor outlook assumes an all-cash purchase. No mortgage payment is deducted.

Estimated monthly cash flow · cash purchase—
Estimated monthly rent$2,708.33
Cap rate—

Annual operating income: —

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Your property and current assumptions will be included for our team to review.

Adjust assumptions
Purchase price
Rental income & operating costs

Purchase price × 5% ÷ 12. Updates with purchase price until you enter a custom rent.

Annual insurance starts at purchase price × 0.25%, rounded to the nearest available amount. Updates with purchase price until you choose another amount.A planning estimate, not an insurance quote. Adjust it for your property and coverage.

Percentages are editable examples, not ERA fee quotes. Management is applied to rent after vacancy; maintenance and capital reserves use scheduled rent. Add owner-paid utilities, mortgage insurance and other recurring expenses under other costs.

How this scenario is calculated

Annual operating income is rent after vacancy, management, maintenance, taxes, insurance, HOA and other operating costs, before financing and capital reserves. Cap rate divides annual operating income by purchase price. Estimated monthly cash flow assumes an all-cash purchase: rent after vacancy, management, maintenance, taxes, insurance, HOA, other operating costs and capital reserves. No mortgage payment is deducted. The mortgage calculator is separate; loan payments would reduce cash flow for a financed purchase. One-time acquisition costs, renovations, income taxes, depreciation and appreciation are excluded.

Mortgage payment calculator

Explore financing separately. These loan settings do not change the all-cash investor outlook.

Mortgage assumptions

20% down and 7% interest are illustrative starting values.

Estimated monthly principal & interest—Loan payment only. Excludes property taxes, homeowners/flood insurance, mortgage insurance and HOA dues.

About this payment estimate

Based on a fixed-rate, fully amortizing loan with monthly payments and the price, down payment, interest rate and term you select. The interest rate is an example, not a current rate offer or APR; APR includes certain loan costs. This is an illustration, not a Loan Estimate, approval, offer of credit or commitment to lend.

Your actual payment, rate and eligibility depend on your lender, credit, loan program and property. Closing costs, points, prepaid expenses and lender fees are not included. Taxes and insurance may change, and mortgage insurance may be required, particularly with a down payment below 20%. Ask your lender for a Loan Estimate and a complete monthly payment including applicable taxes, insurance and fees.

Dollar results are rounded to the nearest cent; calculations retain precision until display. A cash purchase has no loan payment but still has ownership costs. Understand your total home payment (CFPB).

ERA PROPERTY MANAGEMENT

See its potential.
Have a plan for what follows.

Considering this property as a rental? Start with the numbers, then talk through the day-to-day with a local management team.

  1. Understand the opportunity.

    Review rental pricing, property condition and your ownership goals with a local professional.

  2. Make a strong first impression.

    Bring together property preparation, professional marketing and applicant screening.

  3. Stay connected to your investment.

    Get support with rent collection, resident communication, maintenance coordination and owner reporting.

Get a local rental estimateTalk through your management needs
Stone-front home with a landscaped lawn and central entry
A more complete plan for your property

LOCAL PEOPLE. SHARED COMMITMENT.

A team behind your next step.

From your first question to the everyday work of ownership, a conversation with the right person makes a difference.

Meet ERA Property Management

Residential management in Utah, Nevada and Texas. Service availability and rental eligibility must be confirmed for each property. Commercial and association services are available through our management services page.

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506 Gresham, Smithville, TX 78957 · MLS #ACT3367423

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Property inquiries go to help@erabrokers.com.

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Listing information

MLS #ACT3367423 · Austin Board of Realtors

Listing brokerage: Moreland Properties
Listing agent: Wendy Griessen

Listing status: Active. Record updated . Confirm current availability and price with the listing agent.