2407 Wedgewood Ave · Wichita Falls, TX 76308

$97,000

3 bd · 1.0 ba · 1,064 sqft · SingleFamily public records · 28 Days on market

Built 1952 $91/sqft · 33% above area Est $73k · 33% over

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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 +24.5/30.0
• DSCR +7.9/10.0
• 1% rule +7.0/10.0
• Livability +3.5/5.0
• Rent growth +3.4/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Remodel includes NEW HVAC unit, roof, windows, blinds, cabinets, backsplash, counters, and mounted hood vent! The interior and exterior were painted and the home also features hardwood flooring, a fireplace, and an updated bathroom. The fenced backyard has a covered patio complete with new landscaping. Schedule your tour on ShowingTime today!

Key facts

• Spacious backyard
• Central heat and air
• Carport

Tags

• HARDWOOD FLOORS
• COZY FIREPLACE
• CENTRAL HEAT AND AIR
• UPDATED KITCHEN CABINETS
• CARPORT
• SPACIOUS BACKYARD

Property features AI

Exterior

• Home design: Single Family Residence
• Exterior features: Residential single-family property

Interior

• Interior features: Located in the Inglewood subdivision

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $97k.

Deal economics

• At list price, monthly cash flow is $199 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $97k).
• Recommended offer: $96k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.8% 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; 14 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; 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 $671 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 28 days — a 2% lower offer ($96k) is reasonable based on typical stale-listing flexibility.
• 3 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 $95,545 (1.5% below list)

Questions for the listing agent

1. Built in 1952 — 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: 8.75%
• Cash-on-cash: 8.79%
• DSCR: 1.39
• GRM: 6.9

CMA / ARV

• ARV (median comp): $72,916
• List price: $97,000
• Delta: 33.03%
• Verdict: OVERPRICED
• Comps: 9 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.77% rent growth · sell at horizon

5-year hold

• IRR: -2.0%
• Equity multiple: 0.92×
• Total profit: $-2,093
• Equity at exit: $14,463

10-year hold

• IRR: 8.6%
• Equity multiple: 1.68×
• Total profit: $18,484
• Equity at exit: $8,387

Cash invested: $27,160 (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: 6.9×

Monthly cashflow live

• Estimated rent: $1,167 high
• Mortgage (P&I): −$509
• Tax from tax record: −$174 /mo · $2,086/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$245
• Net cashflow: $199

Break-even live

Break-even rent $915

Max offer price $97,000

Occupancy floor 78%

Sensitivity live

Price	-10% $254	-5% $226	+0% $199	+5% $171	+10% $144
Rent	-10% $107	-5% $153	+0% $199	+5% $245	+10% $291
Rate	-1.0pp $248	-0.5pp $224	base $199	+0.5pp $174	+1.0pp $148

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: $24,250
• Closing costs: $2,910
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
504 Fillmore St Wichita Falls, TX	1.0–2.0	1.0	734	$895	$1.22	44d	6	0.34mi
1916 7th St Wichita Falls, TX	2.0	1.0	1226	$1,050	$0.86	44d	1	0.55mi
1810 7th St Unit 1/2 Wichita Falls, TX	2.0	1.0	806	$775	$0.96	44d	1	0.67mi
1714 7th St Wichita Falls, TX	3.0	1.0	1452	$850	$0.59	44d	1	0.76mi
1821 9th St Unit B Wichita Falls, TX	2.0	1.0	1200	$795	$0.66	44d	1	0.81mi
1301 Giddings St Wichita Falls, TX	3.0	1.0	1000	$1,150	$1.15	44d	1	0.95mi
1515 Fillmore St Wichita Falls, TX	3.0	2.0	909	$1,225	$1.35	44d	1	1.08mi
1507 Polk St Wichita Falls, TX	3.0	1.0	1316	$1,050	$0.80	44d	1	1.09mi
1813 Polk St Wichita Falls, TX	3.0	2.0	1090	$1,364	$1.25	44d	1	1.36mi
1901 Giddings St Wichita Falls, TX	3.0	2.0	909	$1,175	$1.29	44d	1	1.38mi
2003 Buchanan St Wichita Falls, TX	3.0	2.0	1118	$1,100	$0.98	44d	1	1.44mi
1901 Wenonah Ave Unit B Wichita Falls, TX	2.0	1.0	946	$1,000	$1.06	44d	1	1.48mi
2006 Bell St Wichita Falls, TX	3.0	1.0	1120	$1,000	$0.89	44d	1	1.48mi
2130 Avenue K Wichita Falls, TX	3.0	2.0	1090	$1,390	$1.28	44d	1	1.50mi

Listing history 14 events

1. 2026-04-29
   listed $97,000 Active 376-char remark
2. 2022-05-11
   soldstatus Closed 344-char remark

   Show marketing remark (344 chars)

   Remodel includes NEW HVAC unit, roof, windows, blinds, cabinets, backsplash, counters, and mounted hood vent! The interior and exterior were painted and the home also features hardwood flooring, a fireplace, and an updated bathroom. The fenced backyard has a covered patio complete with new landscaping. Schedule your tour on ShowingTime today!

3. 2022-05-11
   soldstatus

   Show marketing remark (344 chars)

   Remodel includes NEW HVAC unit, roof, windows, blinds, cabinets, backsplash, counters, and mounted hood vent! The interior and exterior were painted and the home also features hardwood flooring, a fireplace, and an updated bathroom. The fenced backyard has a covered patio complete with new landscaping. Schedule your tour on ShowingTime today!

4. 2022-05-04
   status Pending 344-char remark

   Show marketing remark (344 chars)

   Remodel includes NEW HVAC unit, roof, windows, blinds, cabinets, backsplash, counters, and mounted hood vent! The interior and exterior were painted and the home also features hardwood flooring, a fireplace, and an updated bathroom. The fenced backyard has a covered patio complete with new landscaping. Schedule your tour on ShowingTime today!

5. 2022-04-28
   historical Active Option Contract 344-char remark

   Show marketing remark (344 chars)

   Remodel includes NEW HVAC unit, roof, windows, blinds, cabinets, backsplash, counters, and mounted hood vent! The interior and exterior were painted and the home also features hardwood flooring, a fireplace, and an updated bathroom. The fenced backyard has a covered patio complete with new landscaping. Schedule your tour on ShowingTime today!

6. 2022-04-23
   price $118,000 344-char remark

   Show marketing remark (344 chars)

   Remodel includes NEW HVAC unit, roof, windows, blinds, cabinets, backsplash, counters, and mounted hood vent! The interior and exterior were painted and the home also features hardwood flooring, a fireplace, and an updated bathroom. The fenced backyard has a covered patio complete with new landscaping. Schedule your tour on ShowingTime today!

7. 2022-03-23
   price $120,999 344-char remark

   Show marketing remark (344 chars)

   Remodel includes NEW HVAC unit, roof, windows, blinds, cabinets, backsplash, counters, and mounted hood vent! The interior and exterior were painted and the home also features hardwood flooring, a fireplace, and an updated bathroom. The fenced backyard has a covered patio complete with new landscaping. Schedule your tour on ShowingTime today!

8. 2022-02-26
   price $125,000 344-char remark

   Show marketing remark (344 chars)

   Remodel includes NEW HVAC unit, roof, windows, blinds, cabinets, backsplash, counters, and mounted hood vent! The interior and exterior were painted and the home also features hardwood flooring, a fireplace, and an updated bathroom. The fenced backyard has a covered patio complete with new landscaping. Schedule your tour on ShowingTime today!

9. 2022-01-08
   price $129,900 344-char remark

   Show marketing remark (344 chars)

   Remodel includes NEW HVAC unit, roof, windows, blinds, cabinets, backsplash, counters, and mounted hood vent! The interior and exterior were painted and the home also features hardwood flooring, a fireplace, and an updated bathroom. The fenced backyard has a covered patio complete with new landscaping. Schedule your tour on ShowingTime today!

10. 2021-12-29
    listed $139,900 Active 344-char remark

    Show marketing remark (344 chars)

    Remodel includes NEW HVAC unit, roof, windows, blinds, cabinets, backsplash, counters, and mounted hood vent! The interior and exterior were painted and the home also features hardwood flooring, a fireplace, and an updated bathroom. The fenced backyard has a covered patio complete with new landscaping. Schedule your tour on ShowingTime today!

11. 2021-11-30
    soldstatus
12. 2021-11-24
    soldstatus

    Show marketing remark (355 chars)

    3 bedroom, 1 bath home in Inglewood Subdivision. Living room has hardwood flooring and fireplace. Kitchen has free-standing electric range/oven, good cabinet storage, and stainless steel sink. Hall bath has a shower/tub combination and cabinet storage. Ceiling fans in all bedrooms. fenced backyard has covered patio. Being sold "as is where is"

13. 2021-11-02
    listed $54,900

    Show marketing remark (355 chars)

    3 bedroom, 1 bath home in Inglewood Subdivision. Living room has hardwood flooring and fireplace. Kitchen has free-standing electric range/oven, good cabinet storage, and stainless steel sink. Hall bath has a shower/tub combination and cabinet storage. Ceiling fans in all bedrooms. fenced backyard has covered patio. Being sold "as is where is"

14. 2013-01-07
    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: $2,086 · $174/mo
• Projected year-2 tax: $2,086 · $174/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 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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: $14,001
• − Mortgage interest: −$5,434
• − Property taxes: −$2,086
• − Insurance: −$485
• − Repairs & maintenance: −$1,120
• − Management: −$1,120
• − Depreciation: −$2,822
• Taxable income: $935
• Est. tax owed @ 24.0%: −$224
• After-tax cash flow: $2,162/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

+76.7% since first listed

16 events — show timeline

• 2026-06-15 Sold (MLS) — WFAOR
• 2026-05-29 Delisted — WFAOR
• 2026-04-29 Listed $97,000 WFAOR
• 2022-05-11 Sold (Public Records) — Public Records
• 2022-05-11 Sold (MLS) — NTREIS
• 2022-05-04 Pending — NTREIS
• 2022-04-28 Contingent — NTREIS
• 2022-04-23 Price Changed $118,000 NTREIS
• 2022-03-23 Price Changed $120,999 NTREIS
• 2022-02-26 Price Changed $125,000 NTREIS
• 2022-01-08 Price Changed $129,900 NTREIS
• 2021-12-29 Listed $139,900 NTREIS
• 2021-11-30 Sold (Public Records) — Public Records
• 2021-11-24 Sold (MLS) — WFAOR
• 2021-11-02 Listed $54,900 WFAOR
• 2013-01-07 Sold (Public Records) — Public Records

Property tax history

+4.6%/yr

Latest (2025): $2,086 · +11.6% YoY. Source: county tax records.