2809 Colquit Rd · Wichita Falls, TX 76309

$89,000

2 bd · 1.0 ba · 1,022 sqft · SingleFamily public records · 43 Days on market

Built 1954 $87/sqft · 23% below area Est $115k · 23% under ↓ 11% since listing

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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 +24.1/30.0
• ARV discount +15.0/15.0
• DSCR +7.8/10.0
• 1% rule +6.4/10.0
• Rent growth +4.6/5.0
• Livability +3.5/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

New mini split with AC and heat! If you’ve been looking for something more affordable than rising rental costs, this updated 3-bedroom home offers a smart place to start. Recent improvements including updated flooring, fresh interior paint, and a metal roof help reduce the list of immediate projects, while the layout makes good use of the space with a comfortable living area and natural light throughout. Fenced backyard and the 40’ Conex offers a hard-to-find bonus for storage or workspace needs.

Key facts

• Built 1954
• Listed 42 days

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story; Faces west
• Exterior features: Front porch; Fenced yard; Metal roof

Interior

• Flooring: Carpet; Laminate
• Heating & cooling: Window unit(s) for cooling
• Interior features: Carpet and laminate floors

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $89k.

Deal economics

• At list price, monthly cash flow is $177 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $89k).
• Recommended offer: $86k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.7% vs local median 4.7% in Wichita Falls — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 69/100 on livability (#437 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, employment D+, crime D.
• Wichita Falls ISD (urban): math 31% / reading 33% proficiency, ranked #585 of 826 in TX (top 71%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Crockett El (math 37% / reading 32%, grade F, #1,995 of 4,322 statewide, top 50%, 415 students, 64% FRL).
• Market conditions: Rents rising fast (+8.3%/yr); 129 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 231 units permitted in Wichita County in 2024 (10 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $615 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Wichita County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $25k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($86k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $86,330 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. Crime grade is D 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?
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: 1.14% ✓
• Cap rate: 8.67%
• Cash-on-cash: 8.50%
• DSCR: 1.38
• GRM: 7.3

CMA / ARV

• ARV (median comp): $115,000
• List price: $89,000
• Delta: -22.61%
• Verdict: UNDERPRICED
• Comps: 7 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2801 Sherman Rd	0.29mi	2/1.0	966 (-6%)	16mo	$25,000	$26	64
3105 Grant St	0.74mi	2/1.0	988 (-3%)	4mo	$115,000	$116	56
2032 Gloria Ln	0.65mi	3/1.5 (+1)	1,135 (+11%)	12mo	$164,900	$145	35

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 2.2%
• Equity multiple: 1.09×
• Total profit: $2,222
• Equity at exit: $13,270

10-year hold

• IRR: 16.2%
• Equity multiple: 2.64×
• Total profit: $40,972
• Equity at exit: $7,695

Cash invested: $24,920 (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 76309

• Rents YoY: 8.3%
• Active inventory: 129
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,017 high
• Mortgage (P&I): −$467
• Tax from tax record: −$123 /mo · $1,477/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$214
• Net cashflow: $177

Break-even live

Break-even rent $794

Max offer price $89,000

Occupancy floor 78%

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3706 Seymour Rd Wichita Falls, TX	1.0–3.0	1.0–2.5	1100	$1,188	$1.08	43d	13	0.56mi
2812 Avenue R Unit R Wichita Falls, TX	2.0	1.0	1044	$925	$0.89	43d	1	0.64mi
2912 Avenue L Unit L Wichita Falls, TX	2.0	1.0	1104	$895	$0.81	43d	1	0.90mi
2204 Tilden St Unit A Wichita Falls, TX	3.0	2.0	872	$930	$1.07	43d	1	0.91mi
2500 Taylor St Unit 2500 Taylor A Wichita Falls, TX	2.0	1.0	910	$800	$0.88	43d	1	1.02mi
1901 Wenonah Ave Unit B Wichita Falls, TX	2.0	1.0	946	$1,000	$1.06	43d	1	1.07mi
2003 Buchanan St Wichita Falls, TX	3.0	2.0	1118	$1,100	$0.98	43d	1	1.14mi
2304 Avenue K Wichita Falls, TX	3.0	2.0	1040	$1,050	$1.01	43d	1	1.24mi
1813 Polk St Wichita Falls, TX	3.0	2.0	1090	$1,364	$1.25	43d	1	1.41mi

Listing history 20 events

1. 2026-06-19
   days on market $89,000 Active 43 DOM
2. 2026-06-18
   days on market $89,000 Active 42 DOM
3. 2026-06-17
   days on market $89,000 Active 41 DOM
4. 2026-06-16
   days on market $89,000 Active 40 DOM
5. 2026-06-15
   remarks 501-char remark
6. 2026-06-15
   price $89,000 Active 39 DOM
7. 2026-06-15
   days on market $100,000 Active 39 DOM
8. 2026-06-14
   days on market $100,000 Active 37 DOM
9. 2026-06-13
   days on market $100,000 Active 36 DOM
10. 2026-06-10
    days on market $100,000 Active 34 DOM
11. 2026-06-09
    days on market $100,000 Active 33 DOM
12. 2026-06-08
    days on market $100,000 Active 32 DOM
13. 2026-06-07
    days on market $100,000 Active 31 DOM
14. 2026-06-05
    days on market $100,000 Active 28 DOM
15. 2026-06-02
    days on market $100,000 Active 26 DOM
16. 2026-06-01
    days on market $100,000 Active 25 DOM
17. 2026-05-31
    days on market $100,000 Active 24 DOM
18. 2026-05-30
    days on market $100,000 Active 23 DOM
19. 2026-05-07
    listed $100,000 Active 509-char remark
20. 2005-11-04
    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: $1,477 · $123/mo
• Projected year-2 tax: $1,629 · $136/mo
• Expected delta: +$152/yr (+$13/mo · 10.3%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 8% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,204
• − Mortgage interest: −$4,985
• − Property taxes: −$1,477
• − Insurance: −$445
• − Repairs & maintenance: −$976
• − Management: −$976
• − Depreciation: −$2,589
• Taxable income: $755
• Est. tax owed @ 24.0%: −$181
• After-tax cash flow: $1,938/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: Wichita Falls ISD
• NCES district ID: 4845780
• Math proficiency: 31% ▼ -10.00%
• Reading proficiency: 33% ▼ -7.00%
• Median HH income: $41,604
• Composite: 27.06/100
• National rank: #7051
• State rank: #585 of 826 in TX

Livability — Wichita Falls

• Score: 69/100
• State rank: #437
• US rank: #8940

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wichita Falls, TX
• County: Wichita County · 95,694 people
• City population: 95,694
• Metro: Wichita Falls, TX
• Population (ZIP): 13,395
• Household income: $54,159
• Rent vs Own: 42.7% rent · 57.3% own
• Severe rent burden: 469.0

Population outlook (Wichita County) Hauer SSP2

• Today (2025): 129,638 people
• By 2030: 128,366 · -1.0%
• By 2040: 124,466 · -4.0%
• By 2050: 120,499 · -7.0%
• By 2075: 113,884 · -12.2%
• By 2100: 101,818 · -21.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 58% Hispanic / Latino 29% Two or more races 12% Black 6% Asian 2% Native American 2%
• Hispanic origin (detail): Mexican 27%
• Common ancestry: Lithuanian 1% Romanian 1% Portuguese 1%
• Foreign-born: 7% · Canada, Vietnam, Jamaica
• Languages at home: 82% English-only · Spanish 15% Vietnamese 1% French/Haitian/Cajun 1%

Political lean MEDSL · Wichita

• 2024 margin: Solid R (+44.0) · D 27.5% · R 71.5%
• 2008→2024 swing: -5.2pp toward R · 2008: -38.9pp · 2024: -44.0pp
• All cycles: 2024: R+44.0 2020: R+41.1 2016: R+49.7 2012: R+47.1 2008: R+38.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -88.35%
• Current HPI: 137.2935
• Rent YoY: ▲ 8.33%
• Metro: Wichita Falls, 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

-11.0% since first listed

3 events — show timeline

• 2026-06-15 Price Changed $89,000 WFAOR
• 2026-05-07 Listed $100,000 WFAOR
• 2005-11-04 Sold (Public Records) — Public Records

Property tax history

+5.2%/yr

Latest (2025): $1,477 · +17.8% YoY. Source: county tax records.