1908 S Fannin St · Amarillo, TX 79109

$120,000

3 bd · 1.0 ba · 1,155 sqft · SingleFamily public records · 237 Days on market

Built 1950 $104/sqft · 30% below area Est $171k · 30% under

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +25.2/30.0
• ARV discount +15.0/15.0
• DSCR +8.3/10.0
• 1% rule +7.4/10.0
• Rent growth +3.8/5.0
• Schools +3.6/10.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This home has a lease agreement in place from 3/1/26 to 2/27/27 Will require 24 hour notice to show. Charming investment opportunity or perfect starter home. This 3 bedroom, 1 bath home is located in Wolflin. Step inside and find an inviting living area filled with natural light. The low maintenance yard makes upkeep a breeze. Schedule your showing today

Key facts

• Inviting living area
• Low maintenance yard
• Built 1950

Tags

• INVITING LIVING AREA
• LOW MAINTENANCE YARD
• INVESTMENT OPPORTUNITY

🏷️ Possibly a rental listed for sale. The $120,000 price doesn't fit this home's estimated sale value (~$171,295) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $269 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $106k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 66/100 on livability (#624 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: amenities C-, schools D, crime F.
• Amarillo ISD (urban): math 44% / reading 41% proficiency, ranked #336 of 826 in TX (top 41%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+5.2%/yr); 157 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 1,214 units permitted in Potter County in 2024 (650 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $830 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 5.2% rent growth), your $34k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 237 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $15k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $105,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 237 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.24% ✓
• Cap rate: 8.99%
• Cash-on-cash: 9.62%
• DSCR: 1.43
• GRM: 6.7

CMA / ARV

• ARV (median comp): $171,295
• List price: $120,000
• Delta: -29.95%
• Verdict: UNDERPRICED
• Comps: 3 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 5.24% rent growth · sell at horizon

5-year hold

• IRR: 0.9%
• Equity multiple: 1.04×
• Total profit: $1,193
• Equity at exit: $17,892

10-year hold

• IRR: 12.8%
• Equity multiple: 2.13×
• Total profit: $38,083
• Equity at exit: $10,375

Cash invested: $33,600 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Texas: 87 Strongly Landlord-Friendly · R+5
• County: — inherits STATE
• City: — inherits STATE

3-day notice; statewide preemption; one of the fastest eviction climates; Travis County (Austin) slightly slower.

Methodology + full state rankings →

ZIP-level market 79109

• Rents YoY: 5.2%
• Active inventory: 157
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,483 high
• Mortgage (P&I): −$629
• Tax from tax record: −$223 /mo · $2,679/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$312
• Net cashflow: $269

Break-even live

Break-even rent $1,142

Max offer price $120,000

Occupancy floor 77%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2030 Crockett St Amarillo, TX	3.0	1.5	1307	$1,750	$1.34	13d	1	0.28mi
2104 S Travis St Amarillo, TX	3.0	1.0	1236	$1,700	$1.38	21d	1	0.33mi
2103 Parker St Amarillo, TX	3.0	2.0	1306	$2,300	$1.76	21d	1	0.40mi
3118 SW 15th Ave Amarillo, TX	2.0–3.0	1.0–2.0	1015	$900	$0.89	13d	17	0.76mi
913 S Rusk St Amarillo, TX	3.0	2.0	1450	$1,450	$1.00	13d	1	0.87mi
3003 SW 27th Ave Amarillo, TX	2.0	1.5	808	$895	$1.11	13d	1	0.92mi
3005 SW 28th Ave Unit C Amarillo, TX	3.0	2.0	1480	$1,700	$1.15	13d	1	0.96mi
3110 SW 27th Ave Amarillo, TX	3.0	2.0	1470	$1,482	$1.01	21d	1	1.00mi
3110 SW 27th Ave Amarillo, TX	1.0–3.0	1.0–2.0	1085	$1,482	$1.37	13d	3	1.00mi
3019 W 28th Ave Amarillo, TX	1.0–2.0	1.0–2.0	795	$775	$0.97	43d	1	1.00mi
3001 Curtis Dr Unit A Amarillo, TX	2.0	1.0	713	$1,100	$1.54	21d	1	1.01mi
3007 Curtis Dr Unit B Amarillo, TX	2.0	1.0	750	$950	$1.27	43d	1	1.04mi
2601 Linda Cir Amarillo, TX	1.0–2.0	1.0	650	$1,045	$1.61	43d	1	1.04mi
1008 S Mississippi St Amarillo, TX	3.0	2.0	1061	$1,275	$1.20	21d	1	1.05mi
2306 SW 8th Ave Unit 2 Amarillo, TX	2.0	1.0	700	$950	$1.36	43d	1	1.08mi
802 S Kentucky St Amarillo, TX	2.0	1.0	970	$899	$0.93	43d	1	1.16mi
705 S Florida St Amarillo, TX	2.0	1.0	1014	$850	$0.84	21d	1	1.17mi
701 Sunset Ter Amarillo, TX	3.0	1.0	1444	$1,350	$0.93	43d	1	1.22mi
701 Sunset Ter Amarillo, TX	3.0	1.0	1444	$1,350	$0.93	21d	1	1.23mi
3500 Mockingbird Ln Amarillo, TX	1.0–3.0	1.0–2.0	834	$1,095	$1.31	21d	1	1.29mi
1809 Chama St Amarillo, TX	3.0	1.0	1396	$1,600	$1.15	43d	1	1.30mi
3205 S Tyler St Amarillo, TX	3.0	1.0	1381	$1,475	$1.07	13d	1	1.41mi
3703 S Monroe St Amarillo, TX	2.0	1.0	750	$1,100	$1.47	21d	1	1.49mi

Listing history 26 events

1. 2026-06-18
   days on market $120,000 Active 237 DOM
2. 2026-06-17
   days on market $120,000 Active 236 DOM
3. 2026-06-16
   days on market $120,000 Active 235 DOM
4. 2026-06-15
   days on market $120,000 Active 234 DOM
5. 2026-06-14
   days on market $120,000 Active 232 DOM
6. 2026-06-13
   days on market $120,000 Active 231 DOM
7. 2026-06-10
   days on market $120,000 Active 229 DOM
8. 2026-06-09
   days on market $120,000 Active 228 DOM
9. 2026-06-08
   days on market $120,000 Active 227 DOM
10. 2026-06-07
    days on market $120,000 Active 226 DOM
11. 2026-06-03
    days on market $120,000 Active 222 DOM
12. 2026-06-02
    days on market $120,000 Active 221 DOM
13. 2026-06-01
    days on market $120,000 Active 220 DOM
14. 2026-05-31
    days on market $120,000 Active 219 DOM
15. 2026-05-30
    days on market $120,000 Active 218 DOM
16. 2026-02-11
    price $120,000 356-char remark

    Show marketing remark (356 chars)

    This home has a lease agreement in place from 3/1/26 to 2/27/27 Will require 24 hour notice to show. Charming investment opportunity or perfect starter home. This 3 bedroom, 1 bath home is located in Wolflin. Step inside and find an inviting living area filled with natural light. The low maintenance yard makes upkeep a breeze. Schedule your showing today

17. 2025-12-18
    price $125,000 356-char remark

    Show marketing remark (356 chars)

    This home has a lease agreement in place from 3/1/26 to 2/27/27 Will require 24 hour notice to show. Charming investment opportunity or perfect starter home. This 3 bedroom, 1 bath home is located in Wolflin. Step inside and find an inviting living area filled with natural light. The low maintenance yard makes upkeep a breeze. Schedule your showing today

18. 2025-10-24
    listed $135,000 Active 356-char remark

    Show marketing remark (356 chars)

    This home has a lease agreement in place from 3/1/26 to 2/27/27 Will require 24 hour notice to show. Charming investment opportunity or perfect starter home. This 3 bedroom, 1 bath home is located in Wolflin. Step inside and find an inviting living area filled with natural light. The low maintenance yard makes upkeep a breeze. Schedule your showing today

19. 2025-04-02
    price $125,000
20. 2024-08-29
    historical $1,099
21. 2024-08-24
    listed $1,099
22. 2022-02-03
    price $1,050
23. 2021-12-01
    soldstatus
24. 2020-04-01
    soldstatus
25. 2020-04-01
    soldstatus
26. 2005-12-15
    soldstatus

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast TX · Resets to sale price

• Current annual tax: $2,679 · $223/mo
• Projected year-2 tax: $2,679 · $223/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥97°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,800
• − Mortgage interest: −$6,722
• − Property taxes: −$2,679
• − Insurance: −$600
• − Repairs & maintenance: −$1,424
• − Management: −$1,424
• − Depreciation: −$3,491
• Taxable income: $1,461
• Est. tax owed @ 24.0%: −$351
• After-tax cash flow: $2,881/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Amarillo ISD
• NCES district ID: 4808130
• Math proficiency: 44% ▼ -9.00%
• Reading proficiency: 41% ▼ -3.00%
• Median HH income: $43,478
• Composite: 35.96/100
• National rank: #4798
• State rank: #336 of 826 in TX

Livability — Amarillo

• Score: 66/100
• State rank: #624
• US rank: #11876

Category grades

Amenities C- Commute F Cost of living A+ Crime F Employment C Housing A+ Health & safety F User ratings B-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Amarillo, TX
• County: Randall County · 137,351 people
• City population: 185,802
• Metro: Amarillo, TX
• Population (ZIP): 43,578
• Household income: $70,435
• Rent vs Own: 42.2% rent · 57.8% own
• Severe rent burden: 1640.0

Population outlook (Potter County) Hauer SSP2

• Today (2025): 121,296 people
• By 2030: 120,883 · -0.3%
• By 2040: 119,668 · -1.3%
• By 2050: 117,788 · -2.9%
• By 2075: 110,250 · -9.1%
• By 2100: 92,923 · -23.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Hispanic / Latino 19% Two or more races 12% Black 5%
• Hispanic origin (detail): Mexican 16%
• Common ancestry: Italian 3% Slovak 2% Lithuanian 2%
• Foreign-born: 4% · Canada
• Languages at home: 89% English-only · Spanish 9% Other Indo-European 1%

Political lean MEDSL · Potter

• 2024 margin: Solid R (+44.4) · D 27.3% · R 71.7% · Other 1.1%
• 2008→2024 swing: -5.0pp toward R · 2008: -39.4pp · 2024: -44.4pp
• All cycles: 2024: R+44.4 2020: R+38.7 2016: R+41.9 2012: R+44.6 2008: R+39.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -227.95%
• Current HPI: 171.6795
• Rent YoY: ▲ 5.24%
• Metro: Amarillo, TX
• State GDP YoY: ▲ 3.95%
• F500 in state: 110

Industry mix (Fortune 500 HQ in TX)

Industry	F500 HQs	Revenue
▸Energy	16	$1,198B
▸Technology	5	$198B
▸Engineering / Construction	4	$72B
▸Energy Services	3	$60B
▸Utilities	3	$41B
▸Healthcare	2	$330B

Price history

+11328.6% since first listed

11 events — show timeline

• 2026-02-11 Price Changed $120,000 AARMLS
• 2025-12-18 Price Changed $125,000 AARMLS
• 2025-10-24 Listed $135,000 AARMLS
• 2025-04-02 Price Changed $125,000 AARMLS
• 2024-08-29 Rental Removed $1,099 SHOWMOJO
• 2024-08-24 Listed for Rent $1,099 SHOWMOJO
• 2022-02-03 Price Changed $1,050 RENT.
• 2021-12-01 Sold (Public Records) — Public Records
• 2020-04-01 Sold (Public Records) — Public Records
• 2020-04-01 Sold (Public Records) — Public Records
• 2005-12-15 Sold (Public Records) — Public Records

Property tax history

+5.3%/yr

Latest (2025): $2,679 · +1.3% YoY. Source: county tax records.