1405 Tanbark Rd · Wichita Falls, TX 76306

$100,000

2 bd · 1.0 ba · 1,196 sqft · SingleFamily public records · 15 Days on market

Built 1959 Est $98k · at est.

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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 +25.0/30.0
• DSCR +8.2/10.0
• 1% rule +7.0/10.0
• ARV discount +6.6/15.0
• Livability +3.5/5.0
• Schools +3.4/10.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This 2 bed, 1 bath home in City View area is perfect for investors as well as first time home buyers! Vinyl siding exterior. Home has 2 separate living areas in addition to a formal dining area. Could easily be made into a 3 or possible 4 bedroom home. Kitchen features gas stove and fridge stays. Separate laundry room. Shed in back with power ran to it for additional storage. Whether you're looking for a rental property to add to your portfolio, or looking for a personal home, this one fits the list!

Key facts

• Fridge stays
• Formal dining area
• Gas stove

Tags

• VINYL SIDING EXTERIOR
• SEPARATE LIVING AREAS
• FORMAL DINING AREA
• GAS STOVE
• FRIDGE STAYS
• SEPARATE LAUNDRY ROOM

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; Single level (1 story); Located in the Sunset Terrace subdivision; Zoned for single-family residential
• Construction: Vinyl siding; Composition roof; Slab foundation
• Exterior features: Fenced yard; Outbuilding; Workshop

Interior

• Kitchen: Gas cooktop
• Flooring: Laminate flooring; Tile flooring
• Heating & cooling: Window unit(s) for cooling
• Interior features: Gas cooktop

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $218 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $98k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.9% 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.
• City View ISD (urban): math 40% / reading 39% proficiency, ranked #429 of 826 in TX (top 52%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: City View El (math 39% / reading 37%, grade F, #1,709 of 4,322 statewide, top 40%, 502 students, 78% FRL) — zoned schools average 78% FRL vs 56% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.8%/yr); 114 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 45d 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).
• This rent runs 31% of the median local income ($47k/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 $691 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.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $98,500 (1.5% below list)

Questions for the listing agent

1. Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.20% ✓
• Cap rate: 8.91%
• Cash-on-cash: 9.33%
• DSCR: 1.42
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $98,072
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1406 E Cortez Dr	0.10mi	3/1.0 (+1)	1,196 (0%)	12mo	$89,900	$75	80
1432 Deville St	0.17mi	3/1.0 (+1)	1,218 (+2%)	10mo	$145,000	$119	75
4300 Viewpark	0.48mi	3/2.0 (+1)	1,153 (-4%)	21mo	$94,900	$82	45

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 · 2.81% rent growth · sell at horizon

5-year hold

• IRR: -2.4%
• Equity multiple: 0.91×
• Total profit: $-2,519
• Equity at exit: $14,910

10-year hold

• IRR: 7.1%
• Equity multiple: 1.53×
• Total profit: $14,906
• Equity at exit: $8,646

Cash invested: $28,000 (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 76306

• Home prices YoY: -30.1%
• Rents YoY: 2.8%
• Active inventory: 114
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,201 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$165 /mo · $1,982/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$252
• Net cashflow: $218

Break-even live

Break-even rent $926

Max offer price $100,000

Occupancy floor 77%

Sensitivity live

Price	-10% $274	-5% $246	+0% $218	+5% $190	+10% $161
Rent	-10% $123	-5% $170	+0% $218	+5% $265	+10% $313
Rate	-1.0pp $268	-0.5pp $243	base $218	+0.5pp $192	+1.0pp $166

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1450 Kinsale Ct Wichita Falls, TX	3.0	1.0	1146	$1,300	$1.13	44d	1	0.25mi
115 Becky Dr Unit 115 Wichita Falls, TX	3.0	2.0	924	$875	$0.95	44d	1	1.05mi
1200 Ridgeway Dr Wichita Falls, TX	1.0–3.0	1.0–2.0	889	$895	$1.01	44d	5	1.20mi
2801 Roanoke Dr Unit B Wichita Falls, TX	3.0	2.0	876	$990	$1.13	44d	1	1.25mi

Listing history 12 events

1. 2026-06-19
   days on market $100,000 Active 15 DOM
2. 2026-06-18
   days on market $100,000 Active 14 DOM
3. 2026-06-17
   days on market $100,000 Active 13 DOM
4. 2026-06-16
   days on market $100,000 Active 12 DOM
5. 2026-06-15
   days on market $100,000 Active 11 DOM
6. 2026-06-14
   days on market $100,000 Active 9 DOM
7. 2026-06-13
   days on market $100,000 Active 8 DOM
8. 2026-06-10
   days on market $100,000 Active 6 DOM
9. 2026-06-09
   days on market $100,000 Active 5 DOM
10. 2026-06-08
    days on market $100,000 Active 4 DOM
11. 2026-06-07
    remarks 505-char remark
12. 2026-06-07
    listed $100,000 Active 3 DOM

ⓘ 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: $1,982 · $165/mo
• Projected year-2 tax: $1,982 · $165/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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 8/10 Severe
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 10% 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: $14,416
• − Mortgage interest: −$5,602
• − Property taxes: −$1,982
• − Insurance: −$500
• − Repairs & maintenance: −$1,153
• − Management: −$1,153
• − Depreciation: −$2,909
• Taxable income: $1,117
• Est. tax owed @ 24.0%: −$268
• After-tax cash flow: $2,346/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: City View ISD
• NCES district ID: 4814130
• Math proficiency: 40% ▲ 3.00%
• Reading proficiency: 39% ▬ 0.00%
• Median HH income: $46,360
• Composite: 33.74/100
• National rank: #5372
• State rank: #429 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): 13,963
• Household income: $46,957
• Rent vs Own: 41.4% rent · 58.6% own
• Severe rent burden: 235.0

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 0.59)
• Race & ethnicity: White 58% Hispanic / Latino 21% Black 16% Two or more races 9% Asian 2%
• Hispanic origin (detail): Mexican 18% Cuban 1%
• Common ancestry: Italian 2% Serbian 1% Slovak 1%
• Foreign-born: 6% · Canada
• Languages at home: 88% English-only · Spanish 8% Tagalog/Filipino 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: ▼ -71.29%
• Current HPI: 165.6314
• Rent YoY: ▲ 2.81%
• 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

+5.3% since first listed

4 events — show timeline

• 2026-06-04 Listed $100,000 WFAOR
• 2025-09-27 Price Changed $89,900 WFAOR
• 2025-09-03 Price Changed $95,000 WFAOR
• 2023-01-09 Sold (Public Records) — Public Records

Property tax history

+5.0%/yr

Latest (2025): $1,982 · +7.6% YoY. Source: county tax records.