205 Craven · Pampa, TX 79065

$30,000

2 bd · 1.0 ba · 580 sqft · SingleFamily · 130 Days on market

$52/sqft · 13% below area Est $34k · 13% under

---

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 +30.0/30.0
• ARV discount +13.2/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.8/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming opportunity with two separate homes on one lot, ideal for an owner-occupant, investor, or multi-generational living. The front home is currently leased and features 2 bedrooms, 1 bath, and has the benefit of newer gas and water lines already in place, offering added peace of mind for future maintenance. Buyer is responsible for paying the title policyMake the call today to View

Key facts

• Two separate homes
• Listed 129 days

Tags

• TWO SEPARATE HOMES
• NEWER GAS AND WATER LINES

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $30k.

Deal economics

• At list price, monthly cash flow is $253 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($579 rent vs $30k).
• Recommended offer: $26k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 75/100 on livability (#128 in TX, #3,885 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D+, employment D+, crime F.
• Pampa ISD (town): math 38% / reading 36% proficiency, ranked #482 of 826 in TX (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 182 active listings in the ZIP; 3 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; 7 units permitted in Gray County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $207 of loan paydown is wiped out by about $900 of value loss. Plan a longer hold.
• Gray County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $8k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 130 days — a 12% lower offer ($26k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $26,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 130 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.93% ✓
• Cap rate: 16.40%
• Cash-on-cash: 36.11%
• DSCR: 2.61
• GRM: 4.3

CMA / ARV

• ARV (median comp): $34,329
• List price: $30,000
• Delta: -12.61%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 31.8%
• Equity multiple: 2.34×
• Total profit: $11,243
• Equity at exit: $4,473

10-year hold

• IRR: 39.0%
• Equity multiple: 4.64×
• Total profit: $30,547
• Equity at exit: $2,594

Cash invested: $8,400 (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 79065

• Active inventory: 182
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $579 medium
• Mortgage (P&I): −$157
• Tax from tax record: −$34 /mo · $413/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$121
• Net cashflow: $253

Break-even live

Break-even rent $259

Max offer price $30,000

Occupancy floor 51%

Sensitivity live

Price	-10% $270	-5% $261	+0% $253	+5% $244	+10% $236
Rent	-10% $207	-5% $230	+0% $253	+5% $276	+10% $298
Rate	-1.0pp $268	-0.5pp $260	base $253	+0.5pp $245	+1.0pp $237

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: $7,500
• Closing costs: $900
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
120 S Russell St Unit 211 Pampa, TX	1.0	1.0	600	$550	$0.92	44d	1	0.20mi
1601 W Somerville St Unit 103 Pampa, TX	1.0	1.0	700	$700	$1.00	44d	1	1.37mi
1601 W Somerville St Unit 501 Pampa, TX	1.0	1.0	623	$675	$1.08	44d	1	1.37mi

Listing history 16 events

1. 2026-06-21
   days on market $30,000 Active 130 DOM
2. 2026-06-18
   days on market $30,000 Active 128 DOM
3. 2026-06-17
   days on market $30,000 Active 127 DOM
4. 2026-06-16
   days on market $30,000 Active 126 DOM
5. 2026-06-15
   days on market $30,000 Active 125 DOM
6. 2026-06-15
   days on market $30,000 Active 124 DOM
7. 2026-06-13
   days on market $30,000 Active 123 DOM
8. 2026-06-12
   days on market $30,000 Active 122 DOM
9. 2026-06-10
   days on market $30,000 Active 119 DOM
10. 2026-06-08
    days on market $30,000 Active 118 DOM
11. 2026-06-08
    days on market $30,000 Active 117 DOM
12. 2026-06-03
    days on market $30,000 Active 113 DOM
13. 2026-06-02
    days on market $30,000 Active 112 DOM
14. 2026-06-01
    days on market $30,000 Active 111 DOM
15. 2026-05-31
    days on market $30,000 Active 110 DOM
16. 2026-02-11
    listed $30,000 Active 389-char remark

    Show marketing remark (389 chars)

    Charming opportunity with two separate homes on one lot, ideal for an owner-occupant, investor, or multi-generational living. The front home is currently leased and features 2 bedrooms, 1 bath, and has the benefit of newer gas and water lines already in place, offering added peace of mind for future maintenance. Buyer is responsible for paying the title policyMake the call today to View

ⓘ 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: $413 · $34/mo
• Projected year-2 tax: $549 · $46/mo
• Expected delta: +$136/yr (+$11/mo · 32.8%)

ⓘ 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 5/10 Major 7 d/yr ≥99°F today · 19 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: $6,942
• − Mortgage interest: −$1,680
• − Property taxes: −$413
• − Insurance: −$150
• − Repairs & maintenance: −$555
• − Management: −$555
• − Depreciation: −$873
• Taxable income: $2,715
• Est. tax owed @ 24.0%: −$652
• After-tax cash flow: $2,381/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: Pampa ISD
• NCES district ID: 4834170
• Math proficiency: 38% ▼ -10.00%
• Reading proficiency: 36% ▬ 0.00%
• Median HH income: $43,741
• Composite: 31.43/100
• National rank: #5986
• State rank: #482 of 826 in TX

Livability — Pampa

• Score: 75/100
• State rank: #128
• US rank: #3885

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pampa, TX
• Population (ZIP): 19,569

Population outlook (Gray County) Hauer SSP2

• Today (2025): 24,965 people
• By 2030: 26,105 · +4.6%
• By 2040: 28,752 · +15.2%
• By 2050: 31,859 · +27.6%
• By 2075: 39,812 · +59.5%
• By 2100: 43,284 · +73.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (59%)
• Race & ethnicity: White 59% Hispanic / Latino 32% Two or more races 6% Black 5% Native American 1%
• Hispanic origin (detail): Mexican 29%
• Common ancestry: Slovak 3% Iranian 2% Lithuanian 2%
• Foreign-born: 10% · Canada, South Korea
• Languages at home: 79% English-only · Spanish 21%

Political lean MEDSL · Gray

• 2024 margin: Solid R (+77.1) · D 11.2% · R 88.3%
• 2008→2024 swing: -6.2pp toward R · 2008: -71.0pp · 2024: -77.1pp
• All cycles: 2024: R+77.1 2020: R+77.2 2016: R+78.8 2012: R+75.2 2008: R+71.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -88.67%
• Current HPI: 128.8525
• Rent YoY: —
• Metro: —
• 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

1 event — show timeline

• 2026-02-11 Listed $30,000 PBOR

Property tax history

+5.4%/yr

Latest (2025): $413 · -20.6% YoY. Source: county tax records.