1021 Roosevelt St Unit 1023 Roosevelt Street · Wichita Falls, TX 76301

$52,000

3 bd · 1.0 ba · 1,280 sqft · SingleFamily · 377 Days on market

Built 1960 Fair condition $41/sqft · 64% below area ↓ 13% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +3.8/5.0
• Livability +3.5/5.0
• Schools +2.7/10.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

3 bedroom home with extra lot. Hardwood floors. Large living room, kitchen has updated cabinets and tile floor. Home being Sold AS IS and does need some work. Very nice storage building in fenced backyard. Extra lot would be great for a new build.

Key facts

• Tile floor
• Extra lot
• Updated cabinets

Tags

• HARDWOOD FLOORS
• UPDATED CABINETS
• TILE FLOOR
• STORAGE BUILDING
• FENCED BACKYARD
• EXTRA LOT

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $52k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $514 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $52k).
• Recommended offer: $46k (12.0% below list) — sets the bar for market timing.
• Cap rate 18.2% vs local median 4.5% 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 fast (+5.3%/yr); 166 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 93d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 231 units permitted in Wichita County in 2024 (10 in 5+ unit buildings).
• This rent runs 32% of the median local income ($42k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $360 of loan paydown is wiped out by about $2k 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 + 5.3% rent growth), your $15k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 377 days — a 12% lower offer ($46k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $8k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $45,760 (12.0% below list)

Questions for the listing agent

1. It's been on market 377 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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: 2.13% ✓
• Cap rate: 18.16%
• Cash-on-cash: 42.40%
• DSCR: 2.89
• GRM: 3.9

CMA / ARV

• ARV (median comp): $143,256
• List price: $52,000
• Delta: -63.70%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1512 14th St	1.86mi	3/2.0	1,232 (-4%)	17mo	$138,000	$112	40
1419 N 6th St	2.15mi	3/1.0	1,068 (-17%)	1mo	$48,000	$45	39
1642 Pearl Ave	2.23mi	2/1.0 (-1)	1,148 (-10%)	6mo	$59,000	$51	38
1512 N 6th St	2.24mi	2/1.0 (-1)	920 (-28%)	1mo	$43,000	$47	34
1503 N 8th St	2.22mi	2/1.0 (-1)	916 (-28%)	1mo	$45,000	$49	34
1610 Lucile Ave	1.99mi	2/1.0 (-1)	1,078 (-16%)	1mo	$40,500	$38	34
1204 N 8th St	1.86mi	2/1.0 (-1)	920 (-28%)	2mo	$17,999	$20	34
705 Baylor St	2.07mi	3/3.0	1,592 (+24%)	7mo	$85,000	$53	26
706 Warford St	2.04mi	3/3.0	1,055 (-18%)	10mo	$72,000	$68	24
704 Warford St	2.04mi	3/3.0	1,055 (-18%)	10mo	$35,000	$33	24
1923 Old Windthorst Rd	1.56mi	2/1.0 (-1)	960 (-25%)	13mo	$22,174	$23	24
1605 Collins Ave	2.05mi	4/2.0 (+1)	1,630 (+27%)	10mo	$99,900	$61	22

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 · 5.27% rent growth · sell at horizon

5-year hold

• IRR: 41.7%
• Equity multiple: 2.85×
• Total profit: $26,937
• Equity at exit: $7,753

10-year hold

• IRR: 48.9%
• Equity multiple: 6.28×
• Total profit: $76,817
• Equity at exit: $4,496

Cash invested: $14,560 (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 →

Active competition Active MLS

• For sale now: 7 active
• Median asking: $95,000 ($66/sqft)
• Median days on market: 101 d
• This list price: 43% of active listings are priced below it
• ARV vs active asking: +70.5% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 76301

• Home prices YoY: -34.1%
• Rents YoY: 5.3%
• Active inventory: 166
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $1,106 high
• Mortgage (P&I): −$273
• Tax est. 1.5%: −$65 /mo · $780/yr
• Insurance: −$22
• HOA: −$0
• Vacancy / Maint / Mgmt: −$232
• Net cashflow: $514

Break-even live

Break-even rent $455

Max offer price $52,000

Occupancy floor 48%

Sensitivity live

Price	-10% $550	-5% $532	+0% $514	+5% $496	+10% $478
Rent	-10% $427	-5% $471	+0% $514	+5% $558	+10% $602
Rate	-1.0pp $541	-0.5pp $528	base $514	+0.5pp $501	+1.0pp $487

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: $13,000
• Closing costs: $1,560
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1208 Williams Ave Wichita Falls, TX	3.0	2.0	909	$1,199	$1.32	92d	1	0.12mi
1209 Gladiolus St Wichita Falls, TX	3.0	1.0	1214	$900	$0.74	92d	1	0.34mi
1001 Redwood Ave Wichita Falls, TX	1.0–3.0	1.0–2.0	928	$993	$1.07	92d	2	0.35mi
33 Grant Gill Ln Wichita Falls, TX	2.0	1.0	952	$1,000	$1.05	92d	1	0.40mi
1200 Thompson Rd Wichita Falls, TX	1.0–3.0	1.0–2.0	925	$1,020	$1.10	92d	7	0.68mi
1620 Andrews Dr Wichita Falls, TX	3.0	1.5	1130	$1,095	$0.97	92d	1	0.70mi
9 Shiver Cir Unit 1 Wichita Falls, TX	2.0	2.0	1056	$850	$0.80	92d	1	1.44mi
1618 Orchard Ave Wichita Falls, TX	2.0	1.0	920	$700	$0.76	92d	1	1.47mi

Listing history 50 events

1. 2026-08-08
   days on market $52,000 Active 377 DOM
2. 2026-08-07
   days on market $52,000 Active 376 DOM
3. 2026-08-06
   days on market $52,000 Active 375 DOM
4. 2026-08-05
   days on market $52,000 Active 374 DOM
5. 2026-08-04
   days on market $52,000 Active 373 DOM
6. 2026-08-03
   days on market $52,000 Active 372 DOM
7. 2026-07-31
   days on market $52,000 Active 369 DOM
8. 2026-07-30
   days on market $52,000 Active 368 DOM
9. 2026-07-29
   days on market $52,000 Active 367 DOM
10. 2026-07-27
    days on market $52,000 Active 365 DOM
11. 2026-07-25
    days on market $52,000 Active 363 DOM
12. 2026-07-23
    days on market $52,000 Active 361 DOM
13. 2026-07-22
    days on market $52,000 Active 360 DOM
14. 2026-07-21
    days on market $52,000 Active 359 DOM
15. 2026-07-18
    days on market $52,000 Active 356 DOM
16. 2026-07-16
    days on market $52,000 Active 354 DOM
17. 2026-07-16
    days on market $52,000 Active 353 DOM
18. 2026-07-14
    days on market $52,000 Active 352 DOM
19. 2026-07-13
    days on market $52,000 Active 351 DOM
20. 2026-07-12
    days on market $52,000 Active 350 DOM
21. 2026-07-11
    days on market $52,000 Active 349 DOM
22. 2026-07-10
    days on market $52,000 Active 348 DOM
23. 2026-07-09
    days on market $52,000 Active 347 DOM
24. 2026-07-08
    days on market $52,000 Active 346 DOM
25. 2026-07-07
    days on market $52,000 Active 345 DOM
26. 2026-07-06
    days on market $52,000 Active 344 DOM
27. 2026-07-05
    days on market $52,000 Active 343 DOM
28. 2026-07-04
    days on market $52,000 Active 342 DOM
29. 2026-07-03
    days on market $52,000 Active 341 DOM
30. 2026-07-02
    days on market $52,000 Active 340 DOM
31. 2026-07-01
    days on market $52,000 Active 339 DOM
32. 2026-06-30
    days on market $52,000 Active 338 DOM
33. 2026-06-29
    days on market $52,000 Active 337 DOM
34. 2026-06-28
    days on market $52,000 Active 336 DOM
35. 2026-06-28
    days on market $52,000 Active 335 DOM
36. 2026-06-27
    days on market $52,000 Active 334 DOM
37. 2026-06-26
    days on market $52,000 Active 333 DOM
38. 2026-06-23
    days on market $52,000 Active 330 DOM
39. 2026-06-22
    days on market $52,000 Active 329 DOM
40. 2026-06-19
    days on market $52,000 Active 327 DOM
41. 2026-06-18
    days on market $52,000 Active 326 DOM
42. 2026-06-17
    days on market $52,000 Active 325 DOM
43. 2026-06-16
    days on market $52,000 Active 324 DOM
44. 2026-06-15
    days on market $52,000 Active 323 DOM
45. 2026-06-14
    days on market $52,000 Active 321 DOM
46. 2026-06-13
    days on market $52,000 Active 320 DOM
47. 2026-06-10
    days on market $52,000 Active 318 DOM
48. 2026-06-09
    days on market $52,000 Active 317 DOM
49. 2026-06-08
    days on market $52,000 Active 316 DOM
50. 2026-06-07
    days on market $52,000 Active 315 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (shaded) · 22% chance over 30 yrs
• 🔥 Wildfire 8/10 Severe
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 10% 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: $13,272
• − Mortgage interest: −$2,913
• − Property taxes: −$780
• − Insurance: −$260
• − Repairs & maintenance: −$1,062
• − Management: −$1,062
• − Depreciation: −$1,513
• Taxable income: $5,683
• Est. tax owed @ 24.0%: −$1,364
• After-tax cash flow: $4,809/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab Est. rehab $32,000–$57,600 screening

This home requires moderate renovations to improve its condition and value. Key areas for improvement include updating the kitchen and bathroom, and addressing the weathered exterior siding.

Repairs flagged

• Moderate Kitchen cabinets — Dated appearance
• Minor Kitchen countertops — Simple update could improve value
• Minor Bathroom fixtures — Update could modernize space
• Moderate Exterior siding — Weathered appearance

Value-add opportunities

• Resale Paint interior walls — Fresh paint enhances curb appeal ↑
• Rental Replace window treatments — Modern curtains improve aesthetics ↑
• Both Replace kitchen countertops — Modern countertops improve both resale and rental value ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

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

C Composite livability gradescore 69/100

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 · 129,638 people
• City population: 95,694
• Metro: Wichita Falls, TX
• Population (ZIP): 15,479
• Household income: $41,947
• Rent vs Own: 44.7% rent · 55.3% own
• Severe rent burden: 11% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.67)
• Race & ethnicity: White 40% Hispanic / Latino 38% Black 18% Two or more races 15% Asian 1%
• Hispanic origin (detail): Mexican 36%
• Common ancestry: Slovak 3% Lithuanian 2% Italian 1%
• Foreign-born: 11% · Canada, Vietnam
• Languages at home: 76% English-only · Spanish 22%

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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: ▼ -69.89%
• Current HPI: 135.1511
• Rent YoY: ▲ 5.27%
• Metro: Wichita Falls, TX
• State GDP YoY: ▲ 3.95%
• F500 in state: 110

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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

-13.3% since first listed

6 events — show timeline

• 2026-04-09 Relisted — WFAOR
• 2026-02-11 Delisted — WFAOR
• 2025-10-28 Price Changed $52,000 WFAOR
• 2025-08-15 Relisted — WFAOR
• 2025-05-28 Delisted — WFAOR
• 2025-03-13 Listed $60,000 WFAOR