3213 Garfield St · Wichita Falls, TX 76308

$86,900

3 bd · 1.0 ba · 926 sqft · SingleFamily public records · 87 Days on market

Built 1952 $94/sqft · 20% below area Est $108k · 20% under

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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 +29.6/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.7/10.0
• Livability +3.5/5.0
• Rent growth +3.4/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investment Opportunity! Welcome to this 2 bedroom, 1 bathrooms home that offers a one car parking. Located in Fairview park, this home is close to shopping, main street and highway access. The interior has recent updates of flooring, kitchen upgrades and energy efficient mini split cooling and heating. There is a shop and carport also located on this property. This home is sold as a single unit or multiple homes are for sale available to package. Schedule today

Key facts

• Kitchen upgrades
• Recent updates
• One car parking

Tags

• ONE CAR PARKING
• RECENT UPDATES
• KITCHEN UPGRADES
• CARPORT

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $87k.

Deal economics

• At list price, monthly cash flow is $313 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $87k).
• Recommended offer: $82k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.6% 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+, schools 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.
• Market conditions: Rents rising (+3.8%/yr); 130 active listings in the ZIP; 15 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $601 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 + 3.8% rent growth), your $24k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 87 days — a 6% lower offer ($82k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y 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 1952 — 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 $81,686 (6.0% below list)

Questions for the listing agent

1. It's been on market 87 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 1952 — 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. 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?
7. 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.
8. 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.
9. 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: 1.37% ✓
• Cap rate: 10.62%
• Cash-on-cash: 15.45%
• DSCR: 1.69
• GRM: 6.1

CMA / ARV

• ARV (median comp): $108,186
• List price: $86,900
• Delta: -19.68%
• 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
3105 Grant St	0.18mi	2/1.0 (-1)	988 (+7%)	4mo	$115,000	$116	72
3010 Hollywood Ave	0.74mi	2/1.0 (-1)	944 (+2%)	3mo	$117,500	$124	55
2801 Sherman Rd	0.52mi	2/1.0 (-1)	966 (+4%)	16mo	$25,000	$26	50

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 · 3.77% rent growth · sell at horizon

5-year hold

• IRR: 7.1%
• Equity multiple: 1.28×
• Total profit: $6,830
• Equity at exit: $12,957

10-year hold

• IRR: 17.1%
• Equity multiple: 2.46×
• Total profit: $35,633
• Equity at exit: $7,514

Cash invested: $24,332 (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 76308

• Rents YoY: 3.8%
• Active inventory: 130
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,187 high
• Mortgage (P&I): −$456
• Tax from tax record: −$132 /mo · $1,589/yr
• Insurance: −$36
• HOA: −$0
• Vacancy / Maint / Mgmt: −$249
• Net cashflow: $313

Break-even live

Break-even rent $790

Max offer price $86,900

Occupancy floor 69%

Sensitivity live

Price	-10% $362	-5% $338	+0% $313	+5% $289	+10% $264
Rent	-10% $220	-5% $266	+0% $313	+5% $360	+10% $407
Rate	-1.0pp $357	-0.5pp $335	base $313	+0.5pp $291	+1.0pp $268

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: $21,725
• Closing costs: $2,607
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2812 Avenue R Unit R Wichita Falls, TX	2.0	1.0	1044	$925	$0.89	44d	1	0.42mi
2809 Lebanon Rd Wichita Falls, TX	2.0	1.0	600	$800	$1.33	44d	1	0.56mi
2500 Taylor St Unit 2500 Taylor A Wichita Falls, TX	2.0	1.0	910	$800	$0.88	44d	1	0.69mi
2204 Tilden St Unit A Wichita Falls, TX	3.0	2.0	872	$930	$1.07	44d	1	0.87mi
2912 Avenue L Unit L Wichita Falls, TX	2.0	1.0	1104	$895	$0.81	44d	1	0.91mi
2304 Avenue K Wichita Falls, TX	3.0	2.0	1040	$1,050	$1.01	44d	1	0.99mi
2003 Buchanan St Wichita Falls, TX	3.0	2.0	1118	$1,100	$0.98	44d	1	1.04mi
3706 Seymour Rd Wichita Falls, TX	1.0–3.0	1.0–2.5	1100	$1,375	$1.25	44d	13	1.06mi
1813 Polk St Wichita Falls, TX	3.0	2.0	1090	$1,364	$1.25	44d	1	1.18mi
2006 Bell St Wichita Falls, TX	3.0	1.0	1120	$1,000	$0.89	44d	1	1.27mi
2130 Avenue K Wichita Falls, TX	3.0	2.0	1090	$1,390	$1.28	44d	1	1.30mi
1901 Wenonah Ave Unit B Wichita Falls, TX	2.0	1.0	946	$1,000	$1.06	44d	1	1.33mi
4000 Weeks Park Ln Wichita Falls, TX	1.0–3.0	1.0–2.0	870	$1,425	$1.64	44d	12	1.36mi
1515 Fillmore St Wichita Falls, TX	3.0	2.0	909	$1,225	$1.35	44d	1	1.41mi
1901 Giddings St Wichita Falls, TX	3.0	2.0	909	$1,175	$1.29	44d	1	1.42mi

Listing history 23 events

1. 2026-06-19
   days on market $86,900 Active 87 DOM
2. 2026-06-18
   days on market $86,900 Active 86 DOM
3. 2026-06-17
   days on market $86,900 Active 85 DOM
4. 2026-06-16
   days on market $86,900 Active 84 DOM
5. 2026-06-15
   days on market $86,900 Active 83 DOM
6. 2026-06-14
   days on market $86,900 Active 81 DOM
7. 2026-06-13
   days on market $86,900 Active 80 DOM
8. 2026-06-10
   days on market $86,900 Active 78 DOM
9. 2026-06-09
   days on market $86,900 Active 77 DOM
10. 2026-06-08
    days on market $86,900 Active 76 DOM
11. 2026-06-07
    days on market $86,900 Active 75 DOM
12. 2026-06-05
    days on market $86,900 Active 72 DOM
13. 2026-06-02
    days on market $86,900 Active 70 DOM
14. 2026-06-01
    days on market $86,900 Active 69 DOM
15. 2026-05-31
    days on market $86,900 Active 68 DOM
16. 2026-05-30
    days on market $86,900 Active 67 DOM
17. 2026-03-24
    listed $87,000 Active 465-char remark

    Show marketing remark (465 chars)

    Investment Opportunity! Welcome to this 2 bedroom, 1 bathrooms home that offers a one car parking. Located in Fairview park, this home is close to shopping, main street and highway access. The interior has recent updates of flooring, kitchen upgrades and energy efficient mini split cooling and heating. There is a shop and carport also located on this property. This home is sold as a single unit or multiple homes are for sale available to package. Schedule today

18. 2026-02-03
    price $87,000
19. 2025-08-11
    price $89,700
20. 2025-07-23
    price $89,800
21. 2021-11-17
    soldstatus
22. 2021-08-30
    listed $43,037
23. 2006-08-04
    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: $1,589 · $132/mo
• Projected year-2 tax: $1,590 · $133/mo
• Expected delta: +$2/yr ($0/mo · 0.1%)

ⓘ 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 2/10 Low
• 🌡 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: $14,242
• − Mortgage interest: −$4,868
• − Property taxes: −$1,589
• − Insurance: −$434
• − Repairs & maintenance: −$1,139
• − Management: −$1,139
• − Depreciation: −$2,528
• Taxable income: $2,544
• Est. tax owed @ 24.0%: −$611
• After-tax cash flow: $3,149/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): 21,896
• Household income: $74,772
• Rent vs Own: 47.7% rent · 52.3% own
• Severe rent burden: 708.0

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: Predominantly White (72%)
• Race & ethnicity: White 72% Hispanic / Latino 16% Black 9% Two or more races 7% Asian 1%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Serbian 2% Italian 2% Slovak 1%
• Foreign-born: 6% · Canada
• Languages at home: 90% English-only · Spanish 6% Arabic 1% German/W. Germanic 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: ▼ -118.47%
• Current HPI: 177.1989
• Rent YoY: ▲ 3.77%
• 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

+102.2% since first listed

7 events — show timeline

• 2026-03-24 Listed $87,000 WFAOR
• 2026-02-03 Price Changed $87,000 WFAOR
• 2025-08-11 Price Changed $89,700 WFAOR
• 2025-07-23 Price Changed $89,800 WFAOR
• 2021-11-17 Sold (MLS) — WFAOR
• 2021-08-30 Listed $43,037 WFAOR
• 2006-08-04 Sold (Public Records) — Public Records

Property tax history

+4.1%/yr

Latest (2025): $1,589 · -0.8% YoY. Source: county tax records.