2004 S Madison St · Amarillo, TX 79109

$139,900

3 bd · 1.0 ba · 1,167 sqft · SingleFamily public records · 49 Days on market

Built 1940 6,375 sqft lot $120/sqft · 6% below area Est $150k · 6% under

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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 +22.5/30.0
• ARV discount +10.4/15.0
• DSCR +7.2/10.0
• 1% rule +6.2/10.0
• 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

CUTE COTTAGE WALKING DISTANCE TO WOL FLIN ELEMOR AC OWNERS LEFT W/ D REFRIG. PORTAB LE KIT- CHEN AID DW AND 3 WINDOW A/C UNITS. S PECIAL FEATURES-NOCK FP HARDWOOD FLOORS AND O NE CAR GARAGE CONV TO DARKRM/WORKSHOP PERTAXO

Key facts

• 6,375 sq ft lot
• Built 1940
• Listed 49 days

Property features AI

Exterior

• Home design: Single-family residence; Residential property
• Construction: Built prior to or in 2026
• Exterior features: Lot dimensions approximately 50.00 x 127.50

Interior

• Bathrooms: 1 full bathroom
• Interior features: East-facing

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $237 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $136k (3.0% 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-, crime F, commute 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.
• Zoned schools: George Washington Carver Early Childhood Academy (338 students, 68% FRL); Austin Middle (math 47% / reading 43%, grade D, #479 of 1,662 statewide, top 29%, 677 students, 63% FRL); Tascosa H S (math 36% / reading 45%, grade F, #798 of 1,632 statewide, top 49%, 2,187 students, 57% FRL) — zoned schools at 63% FRL track the district average.
• Market conditions: Rents rising fast (+5.2%/yr); 157 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 $967 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 $39k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($136k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $135,703 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 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 1940 — 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 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?
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: 1.12% ✓
• Cap rate: 8.32%
• Cash-on-cash: 7.25%
• DSCR: 1.32
• GRM: 7.4

CMA / ARV

• ARV (median comp): $149,520
• List price: $139,900
• Delta: -6.43%
• Verdict: FAIR
• Comps: 3 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2607 S Polk St	0.65mi	2/1.0 (-1)	1,288 (+10%)	8mo	$174,566	$136	40

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 · 5.24% rent growth · sell at horizon

5-year hold

• IRR: -2.6%
• Equity multiple: 0.90×
• Total profit: $-3,941
• Equity at exit: $20,860

10-year hold

• IRR: 9.5%
• Equity multiple: 1.81×
• Total profit: $31,704
• Equity at exit: $12,096

Cash invested: $39,172 (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: 7.4×

Monthly cashflow live

• Estimated rent: $1,571 high
• Mortgage (P&I): −$734
• Tax from tax record: −$212 /mo · $2,550/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$330
• Net cashflow: $237

Break-even live

Break-even rent $1,271

Max offer price $139,900

Occupancy floor 80%

Sensitivity live

Price	-10% $316	-5% $276	+0% $237	+5% $197	+10% $157
Rent	-10% $112	-5% $174	+0% $237	+5% $299	+10% $361
Rate	-1.0pp $307	-0.5pp $272	base $237	+0.5pp $200	+1.0pp $163

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2103 Parker St Amarillo, TX	3.0	2.0	1306	$2,300	$1.76	23d	1	0.36mi
2104 S Travis St Amarillo, TX	3.0	1.0	1236	$1,700	$1.38	23d	1	0.46mi
2030 Crockett St Amarillo, TX	3.0	1.5	1307	$1,750	$1.34	15d	1	0.59mi
3205 S Tyler St Amarillo, TX	3.0	1.0	1381	$1,475	$1.07	15d	1	0.91mi
3703 S Monroe St Amarillo, TX	2.0	1.0	750	$1,100	$1.47	23d	1	1.16mi
3813 S Washington St Unit B Amarillo, TX	2.0	2.0	954	$1,050	$1.10	46d	1	1.29mi
913 S Rusk St Amarillo, TX	3.0	2.0	1450	$1,450	$1.00	15d	1	1.30mi
3003 SW 27th Ave Amarillo, TX	2.0	1.5	808	$895	$1.11	15d	1	1.39mi
3001 Curtis Dr Unit A Amarillo, TX	2.0	1.0	713	$1,100	$1.54	23d	1	1.39mi
3005 SW 28th Ave Unit C Amarillo, TX	3.0	2.0	1480	$1,700	$1.15	15d	1	1.40mi
3118 SW 15th Ave Amarillo, TX	2.0–3.0	1.0–2.0	1015	$900	$0.89	15d	17	1.42mi
3007 Curtis Dr Unit B Amarillo, TX	2.0	1.0	750	$950	$1.27	46d	1	1.43mi
3019 W 28th Ave Amarillo, TX	1.0–2.0	1.0–2.0	795	$775	$0.97	46d	1	1.46mi
2306 SW 8th Ave Unit 2 Amarillo, TX	2.0	1.0	700	$950	$1.36	46d	1	1.48mi

Listing history 20 events

1. 2026-06-18
   status $139,900 Pending 49 DOM
2. 2026-06-18
   days on market $139,900 Active Under Contract 49 DOM
3. 2026-06-17
   days on market $139,900 Active Under Contract 48 DOM
4. 2026-06-16
   days on market $139,900 Active Under Contract 47 DOM
5. 2026-06-15
   days on market $139,900 Active Under Contract 46 DOM
6. 2026-06-14
   days on market $139,900 Active Under Contract 44 DOM
7. 2026-06-13
   days on market $139,900 Active Under Contract 43 DOM
8. 2026-06-10
   days on market $139,900 Active Under Contract 41 DOM
9. 2026-06-09
   days on market $139,900 Active Under Contract 40 DOM
10. 2026-06-08
    days on market $139,900 Active Under Contract 39 DOM
11. 2026-06-07
    days on market $139,900 Active Under Contract 38 DOM
12. 2026-06-03
    days on market $139,900 Active Under Contract 34 DOM
13. 2026-06-02
    days on market $139,900 Active Under Contract 33 DOM
14. 2026-06-01
    days on market $139,900 Active Under Contract 32 DOM
15. 2026-05-31
    days on market $139,900 Active Under Contract 31 DOM
16. 2026-05-30
    days on market $139,900 Active Under Contract 30 DOM
17. 2026-05-01
    listed $139,900 Active 392-char remark
18. 2022-04-21
    soldstatus
19. 2004-10-15
    soldstatus
20. 1995-07-28
    soldstatus 221-char remark

    Show marketing remark (221 chars)

    CUTE COTTAGE WALKING DISTANCE TO WOL FLIN ELEMOR AC OWNERS LEFT W/ D REFRIG. PORTAB LE KIT- CHEN AID DW AND 3 WINDOW A/C UNITS. S PECIAL FEATURES-NOCK FP HARDWOOD FLOORS AND O NE CAR GARAGE CONV TO DARKRM/WORKSHOP PERTAXO

ⓘ 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: $2,550 · $212/mo
• Projected year-2 tax: $2,560 · $213/mo
• Expected delta: +$10/yr (+$1/mo · 0.4%)

ⓘ 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 2/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥97°F today · 18 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: $18,850
• − Mortgage interest: −$7,837
• − Property taxes: −$2,550
• − Insurance: −$700
• − Repairs & maintenance: −$1,508
• − Management: −$1,508
• − Depreciation: −$4,070
• Taxable income: $678
• Est. tax owed @ 24.0%: −$163
• After-tax cash flow: $2,675/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

6 events — show timeline

• 2026-06-18 Pending — AARMLS
• 2026-05-20 Contingent — AARMLS
• 2026-05-01 Listed $139,900 AARMLS
• 2022-04-21 Sold (Public Records) — Public Records
• 2004-10-15 Sold (Public Records) — Public Records
• 1995-07-28 Sold (MLS) — AARMLS

Property tax history

+3.1%/yr

Latest (2025): $2,550 · -12.1% YoY. Source: county tax records.