4208 S Ong St · Amarillo, TX 79110

$165,000

3 bd · 2.0 ba · 1,200 sqft · SingleFamily public records · 48 Days on market

Built 1949 $138/sqft · at area comps Est $160k · at est.

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Why this score? — see what drove the D 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 +13.1/30.0
• ARV discount +6.2/15.0
• Rent growth +4.0/5.0
• 1% rule +3.9/10.0
• DSCR +3.9/10.0
• Schools +3.6/10.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Freshly updated 3 bedroom 2 bathroom house in Southlawn. This home has a large open living room and dining area. The kitchen is equally large, with window opening to the living area for conversation. It has washery and dryer hookups, and a nice bay window at the kitchen sink. The detached one car garage has plenty of room, and awning. It also has a metal shed for tools in the backyard.

Key facts

• Garage
• Built 1949
• Listed 48 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $-6 ($-77/yr) — negative.
• To cash-flow at today's rent, offer at most $164k (0.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $148k (10.5% below list).
• Recommended offer: $148k (10.5% below list) — sets the bar for 1% rule.

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); Fannin Middle (math 36% / reading 30%, grade F, #930 of 1,662 statewide, top 57%, 657 students, 79% FRL); Amtech Career Academy (3 students, 0% FRL).
• Market conditions: Rents rising fast (+6.0%/yr); 65 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 45 units permitted in Randall County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Randall County population projected at +36% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($160k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 6y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $147,605 (10.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
3. Built in 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.89% ✗
• Cap rate: 6.25%
• Cash-on-cash: -0.17%
• DSCR: 0.99
• GRM: 9.3

CMA / ARV

• ARV (median comp): $160,460
• List price: $165,000
• Delta: 2.83%
• Verdict: FAIR
• Comps: 4 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 6.04% rent growth · sell at horizon

5-year hold

• IRR: -13.1%
• Equity multiple: 0.51×
• Total profit: $-22,450
• Equity at exit: $24,602

10-year hold

• IRR: 0.1%
• Equity multiple: 1.01×
• Total profit: $419
• Equity at exit: $14,266

Cash invested: $46,200 (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 79110

• Rents YoY: 6.0%
• Active inventory: 65
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,476 high
• Mortgage (P&I): −$865
• Tax from tax record: −$238 /mo · $2,861/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$310
• Net cashflow: $-6

Break-even live

Break-even rent $1,484

Max offer price $163,871

Occupancy floor 95%

Sensitivity live

Price	-10% $87	-5% $40	+0% $-6	+5% $-53	+10% $-100
Rent	-10% $-123	-5% $-65	+0% $-6	+5% $52	+10% $110
Rate	-1.0pp $77	-0.5pp $36	base $-6	+0.5pp $-49	+1.0pp $-93

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4316 S Hayden St Amarillo, TX	3.0	1.5	1356	$1,650	$1.22	45d	1	0.14mi
4308 S Jackson St Amarillo, TX	3.0	1.0	1302	$1,490	$1.14	23d	1	0.37mi
4108 Crockett St Amarillo, TX	3.0	1.0	1373	$1,525	$1.11	45d	1	0.41mi
3813 S Washington St Unit B Amarillo, TX	2.0	2.0	954	$1,050	$1.10	45d	1	0.42mi
4620 S Hayden St Amarillo, TX	3.0	1.0	1036	$1,475	$1.42	23d	1	0.47mi
4615 S Lipscomb St Amarillo, TX	3.0	2.0	1168	$1,000	$0.86	15d	1	0.47mi
4611 Cline Rd Amarillo, TX	4.0	1.5	1500	$1,500	$1.00	23d	1	0.48mi
4205 S Tyler St Amarillo, TX	2.0	1.0	852	$925	$1.09	45d	1	0.54mi
3703 S Monroe St Amarillo, TX	2.0	1.0	750	$1,100	$1.47	23d	1	0.57mi
4623 Crockett St Amarillo, TX	2.0	1.0	720	$1,100	$1.53	23d	1	0.63mi
3205 S Tyler St Amarillo, TX	3.0	1.0	1381	$1,475	$1.07	15d	1	0.99mi
608 Lochridge Amarillo, TX	3.0	2.0	1455	$1,900	$1.31	45d	1	1.15mi
307 Mikeska St Amarillo, TX	3.0	2.0	1250	$1,800	$1.44	23d	1	1.18mi
5315 Allen St Amarillo, TX	3.0	1.0	891	$1,200	$1.35	23d	1	1.21mi
3001 Curtis Dr Unit A Amarillo, TX	2.0	1.0	713	$1,100	$1.54	23d	1	1.32mi
3007 Curtis Dr Unit B Amarillo, TX	2.0	1.0	750	$950	$1.27	45d	1	1.34mi
5142 Crockett St Amarillo, TX	3.0	2.0	1030	$1,495	$1.45	15d	1	1.34mi
4003 S Bowie St Amarillo, TX	2.0	1.0	890	$995	$1.12	15d	1	1.36mi
3005 SW 28th Ave Unit C Amarillo, TX	3.0	2.0	1480	$1,700	$1.15	15d	1	1.45mi
3019 W 28th Ave Amarillo, TX	1.0–2.0	1.0–2.0	795	$775	$0.97	45d	1	1.49mi

Listing history 7 events

1. 2026-05-13
   status Pending 388-char remark

   Show marketing remark (388 chars)

   Freshly updated 3 bedroom 2 bathroom house in Southlawn. This home has a large open living room and dining area. The kitchen is equally large, with window opening to the living area for conversation. It has washery and dryer hookups, and a nice bay window at the kitchen sink. The detached one car garage has plenty of room, and awning. It also has a metal shed for tools in the backyard.

2. 2026-05-03
   historical Active Under Contract 388-char remark

   Show marketing remark (388 chars)

   Freshly updated 3 bedroom 2 bathroom house in Southlawn. This home has a large open living room and dining area. The kitchen is equally large, with window opening to the living area for conversation. It has washery and dryer hookups, and a nice bay window at the kitchen sink. The detached one car garage has plenty of room, and awning. It also has a metal shed for tools in the backyard.

3. 2026-03-25
   listed $165,000 Active 388-char remark

   Show marketing remark (388 chars)

   Freshly updated 3 bedroom 2 bathroom house in Southlawn. This home has a large open living room and dining area. The kitchen is equally large, with window opening to the living area for conversation. It has washery and dryer hookups, and a nice bay window at the kitchen sink. The detached one car garage has plenty of room, and awning. It also has a metal shed for tools in the backyard.

4. 2020-09-17
   soldstatus
5. 2020-09-15
   soldstatus 203-char remark

   Show marketing remark (203 chars)

   Great Starter home. .. .New carpet and paint with a nice back yard with lots of shade. Very nice covered patio for entertaining. Kitchen has small island with Gas Range. Both bathrooms have been updated.

6. 2020-07-30
   listed $115,000 203-char remark

   Show marketing remark (203 chars)

   Great Starter home. .. .New carpet and paint with a nice back yard with lots of shade. Very nice covered patio for entertaining. Kitchen has small island with Gas Range. Both bathrooms have been updated.

7. 2010-06-14
   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: $2,861 · $238/mo
• Projected year-2 tax: $3,020 · $252/mo
• Expected delta: +$158/yr (+$13/mo · 5.5%)

ⓘ 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 9/10 Extreme
• 🌡 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: $17,713
• − Mortgage interest: −$9,243
• − Property taxes: −$2,861
• − Insurance: −$825
• − Repairs & maintenance: −$1,417
• − Management: −$1,417
• − Depreciation: −$4,800
• Taxable loss: −$2,850
• Est. tax savings @ 24.0%: +$684
• After-tax cash flow: $607/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): 16,994
• Household income: $66,683
• Rent vs Own: 30.1% rent · 69.9% own
• Severe rent burden: 208.0

Population outlook (Randall County) Hauer SSP2

• Today (2025): 152,140 people
• By 2030: 163,107 · +7.2%
• By 2040: 184,999 · +21.6%
• By 2050: 206,948 · +36.0%
• By 2075: 260,204 · +71.0%
• By 2100: 294,980 · +93.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (61%)
• Race & ethnicity: White 61% Hispanic / Latino 32% Two or more races 13% Black 4% Asian 1%
• Hispanic origin (detail): Mexican 29%
• Common ancestry: Italian 2% Slovak 1% Lithuanian 1%
• Foreign-born: 5% · Canada, Vietnam
• Languages at home: 83% English-only · Spanish 13% Other Indo-European 2% Other Asian/Pacific 1%

Political lean MEDSL · Randall

• 2024 margin: Solid R (+60.4) · D 19.4% · R 79.8%
• 2008→2024 swing: +2.3pp toward D · 2008: -62.7pp · 2024: -60.4pp
• All cycles: 2024: R+60.4 2020: R+58.8 2016: R+65.1 2012: R+68.2 2008: R+62.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -226.16%
• Current HPI: 180.2164
• Rent YoY: ▲ 6.04%
• 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

+43.5% since first listed

7 events — show timeline

• 2026-05-13 Pending — AARMLS
• 2026-05-03 Contingent — AARMLS
• 2026-03-25 Listed $165,000 AARMLS
• 2020-09-17 Sold (Public Records) — Public Records
• 2020-09-15 Sold (MLS) — AARMLS
• 2020-07-30 Listed $115,000 AARMLS
• 2010-06-14 Sold (Public Records) — Public Records

Property tax history

+4.6%/yr

Latest (2025): $2,861 · +11.7% YoY. Source: county tax records.