224 Shellwood Dr · Wake Village, TX 75501

$106,000

3 bd · 1.0 ba · 1,144 sqft · SingleFamily public records · 84 Days on market

Built 1962 8,276 sqft lot $93/sqft · 24% above area Est $86k · 24% over

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Why this score? — see what drove the C- 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 +26.3/30.0
• DSCR +8.9/10.0
• 1% rule +7.2/10.0
• Livability +4.0/5.0
• Schools +3.2/10.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Move-in ready, and already listed at $990-mo in Wake Village — one of East Texas's most reliable rental communities. This clean, move-in ready 3-bed, 1-bath home is priced at the portfolio's entry point and delivers a return that punches well above its weight. Tile flooring throughout for low-maintenance living, spacious living area filled with natural light, practical layout designed for everyday comfort, kitchen with generous cabinet storage and ample counter space, and a large covered back patio best for relaxing or entertaining, plus a private yard, washer-dryer, extra storage, and outdoor parking. Everything a tenant needs, nothing that needs work. FOR HOMEOWNERS Move straight into a clean, comfortable home with a covered back patio and private yard in Wake Village — where tree-lined streets, Texarkana ISD schools, and easy access to shopping, dining, and Interstate 369 make everyday life genuinely easy. In a suburb where people actively choose to live, this is one of the best value opportunities in the market right now. FOR INVESTORS Move-in ready, already listed at market, zero make-ready costs, and zero downtime between closing and CF. Tile flooring, a covered patio, and a private yard attract low-maintenance, long-term tenants in a suburb with strong, consistent rental demand from working families, healthcare workers, and military personnel near Red River Army Depot. At $110K in Wake Village, the numbers and the location both work. Part of a 20-property SFR portfolio across Texarkana and Nash. Buy one or scale into multiple.

Key facts

• Cozy dining area
• Lush backyard
• Modern appliances

Tags

• SPACIOUS LAYOUT
• MODERN APPLIANCES
• COZY DINING AREA
• LUSH BACKYARD

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $106k.

Deal economics

• At list price, monthly cash flow is $274 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $106k).
• Recommended offer: $100k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 79/100 on livability (#51 in TX, #2,068 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D, amenities F.
• Texarkana ISD (urban): math 36% / reading 41% proficiency, ranked #472 of 826 in TX (top 57%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+1.6%/yr); 320 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 137 units permitted in Bowie County in 2024 (5 in 5+ unit buildings).
• This rent runs 34% of the median local income ($46k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $733 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 84 days — a 6% lower offer ($100k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask is 10607% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $99,640 (6.0% below list)

Questions for the listing agent

1. It's been on market 84 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1962 — 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. 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.
7. 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.
8. 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: 1.22% ✓
• Cap rate: 9.39%
• Cash-on-cash: 11.08%
• DSCR: 1.49
• GRM: 6.8

CMA / ARV

• ARV (median comp): $85,682
• List price: $106,000
• Delta: 23.71%
• Verdict: OVERPRICED
• Comps: 4 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1029 Mariana Ave	0.23mi	3/1.5	1,044 (-9%)	14mo	$150,000	$144	61
400 Redwater Rd	0.54mi	2/1.0 (-1)	1,162 (+2%)	23mo	$101,000	$87	48

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 1.63% rent growth · sell at horizon

5-year hold

• IRR: -1.3%
• Equity multiple: 0.95×
• Total profit: $-1,457
• Equity at exit: $15,805

10-year hold

• IRR: 6.8%
• Equity multiple: 1.48×
• Total profit: $14,298
• Equity at exit: $9,165

Cash invested: $29,680 (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 75501

• Home prices YoY: -34.9%
• Rents YoY: 1.6%
• Active inventory: 320
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,293 medium
• Mortgage (P&I): −$556
• Tax from tax record: −$147 /mo · $1,770/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$272
• Net cashflow: $274

Break-even live

Break-even rent $946

Max offer price $106,000

Occupancy floor 74%

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: $26,500
• Closing costs: $3,180
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
411 Redwater Rd Wake Village, TX	2.0	1.0	900	$1,500	$1.67	44d	1	0.58mi

Listing history 23 events

1. 2026-06-19
   days on market $106,000 Active 84 DOM
2. 2026-06-18
   days on market $106,000 Active 83 DOM
3. 2026-06-17
   days on market $106,000 Active 82 DOM
4. 2026-06-17
   price $106,000 Active 81 DOM
5. 2026-06-16
   days on market $108,000 Active 81 DOM
6. 2026-06-15
   days on market $108,000 Active 80 DOM
7. 2026-06-14
   days on market $108,000 Active 78 DOM
8. 2026-06-13
   days on market $108,000 Active 77 DOM
9. 2026-06-10
   days on market $108,000 Active 75 DOM
10. 2026-06-09
    days on market $108,000 Active 74 DOM
11. 2026-06-08
    days on market $108,000 Active 73 DOM
12. 2026-06-07
    days on market $108,000 Active 72 DOM
13. 2026-06-05
    days on market $108,000 Active 69 DOM
14. 2026-06-02
    days on market $108,000 Active 67 DOM
15. 2026-06-01
    days on market $108,000 Active 66 DOM
16. 2026-05-31
    days on market $108,000 Active 65 DOM
17. 2026-05-30
    days on market $108,000 Active 64 DOM
18. 2026-05-11
    listed $990
19. 2026-04-24
    historical $990
20. 2026-03-27
    listed $110,000 Active 1587-char remark

    Show marketing remark (1587 chars)

    Move-in ready, and already listed at $990-mo in Wake Village — one of East Texas's most reliable rental communities. This clean, move-in ready 3-bed, 1-bath home is priced at the portfolio's entry point and delivers a return that punches well above its weight. Tile flooring throughout for low-maintenance living, spacious living area filled with natural light, practical layout designed for everyday comfort, kitchen with generous cabinet storage and ample counter space, and a large covered back patio best for relaxing or entertaining, plus a private yard, washer-dryer, extra storage, and outdoor parking. Everything a tenant needs, nothing that needs work. FOR HOMEOWNERS Move straight into a clean, comfortable home with a covered back patio and private yard in Wake Village — where tree-lined streets, Texarkana ISD schools, and easy access to shopping, dining, and Interstate 369 make everyday life genuinely easy. In a suburb where people actively choose to live, this is one of the best value opportunities in the market right now. FOR INVESTORS Move-in ready, already listed at market, zero make-ready costs, and zero downtime between closing and CF. Tile flooring, a covered patio, and a private yard attract low-maintenance, long-term tenants in a suburb with strong, consistent rental demand from working families, healthcare workers, and military personnel near Red River Army Depot. At $110K in Wake Village, the numbers and the location both work. Part of a 20-property SFR portfolio across Texarkana and Nash. Buy one or scale into multiple.

21. 2026-02-19
    listed $990
22. 2025-07-24
    soldstatus
23. 1998-09-23
    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: $1,770 · $147/mo
• Projected year-2 tax: $1,940 · $162/mo
• Expected delta: +$170/yr (+$14/mo · 9.6%)

ⓘ 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 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥112°F today · 22 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,516
• − Mortgage interest: −$5,938
• − Property taxes: −$1,770
• − Insurance: −$530
• − Repairs & maintenance: −$1,241
• − Management: −$1,241
• − Depreciation: −$3,084
• Taxable income: $1,713
• Est. tax owed @ 24.0%: −$411
• After-tax cash flow: $2,877/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: Texarkana ISD
• NCES district ID: 4842480
• Math proficiency: 36% ▼ -7.00%
• Reading proficiency: 41% ▼ -1.00%
• Median HH income: $35,692
• Composite: 31.87/100
• National rank: #5867
• State rank: #472 of 826 in TX

Livability — Wake Village

• Score: 79/100
• State rank: #51
• US rank: #2068

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wake Village, TX
• County: Bowie County · 61,238 people
• Metro: Texarkana, TX-AR
• Population (ZIP): 34,866
• Household income: $45,995
• Rent vs Own: 42.9% rent · 57.1% own
• Severe rent burden: 1289.0

Population outlook (Bowie County) Hauer SSP2

• Today (2025): 94,699 people
• By 2030: 94,824 · +0.1%
• By 2040: 94,870 · +0.2%
• By 2050: 93,686 · -1.1%
• By 2075: 90,082 · -4.9%
• By 2100: 76,579 · -19.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 54% Black 33% Hispanic / Latino 9% Two or more races 5%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Italian 1% Lithuanian 1% Portuguese 1%
• Foreign-born: 5% · Canada
• Languages at home: 92% English-only · Spanish 6% Other Indo-European 1%

Political lean MEDSL · Bowie

• 2024 margin: Solid R (+48.7) · D 25.3% · R 74.0%
• 2008→2024 swing: -10.8pp toward R · 2008: -37.9pp · 2024: -48.7pp
• All cycles: 2024: R+48.7 2020: R+42.8 2016: R+46.6 2012: R+41.5 2008: R+37.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -79.14%
• Current HPI: 147.9402
• Rent YoY: ▲ 1.63%
• Metro: Texarkana, TX-AR
• 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

6 events — show timeline

• 2026-05-11 Listed for Rent $990 Avail
• 2026-04-24 Rental Removed $990 Avail
• 2026-03-27 Listed $110,000 NTREIS
• 2026-02-19 Listed for Rent $990 Avail
• 2025-07-24 Sold (Public Records) — Public Records
• 1998-09-23 Sold (Public Records) — Public Records

Property tax history

+5.0%/yr

Latest (2025): $1,770 · +9.9% YoY. Source: county tax records.