1918 N 6th St Unit R · Wichita Falls, TX 76301

$36,500

2 bd · 1.0 ba · 2,640 sqft · SingleFamily · 46 Days on market

Built 1940 Poor condition 5,009 sqft lot $14/sqft · 70% below area ↓ 27% 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 +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Bring your ideas to this great home. Great potential and strong bones. 15 property-package offered as a bundle. 12 residential and 3 commercial, not listed here. See attached offer package with the addresses and proposal. The price for all of them combined is $575,000. A potential of over $1,200,000 ARV and a potential monthly rental income of $12,000 per month. Finaciamiento de DUENO A DUENO disponible. Terminos flexibles con 20 porciento de down. 3 commercial properties: 705 N Broadway St, 302 Jefferson St, and 709 N Broadway St. All information provided is deemed reliable but is not guaranteed and should be independently verified.

Key facts

• 5,009 sq ft lot
• Built 1940
• Listed 45 days

Property features AI

Finance

• Other: No known restrictions; Possession at closing/funding
• Financial info: Listing terms may include 1031 exchange, cash, or owner financing; Treat as clear loan type; No second mortgage reported
• HOA & community: No association

Exterior

• Parking: No garage; No covered or carport spaces; Other parking features
• Security: No known security features
• Utilities: City water; City sewer; No municipal utility district
• Home design: Single family residence; Residential property; One story; Property is not attached; Subdivision: Trueheart 10
• Construction: Built in 1940; Siding exterior; Composition roof; Pillar/post/pier foundation; Preowned
• Exterior features: Less than 0.5-acre lot; No easements; No dock permitted

Interior

• Kitchen: Other appliances
• Bedrooms: Primary bedroom on level 1; Second bedroom on level 1 (approx. 10 x 12)
• Flooring: Carpet; Hardwood
• Bathrooms: 1 full bathroom
• Heating & cooling: Other heating; Other cooling
• Interior features: One-level layout; 3 total rooms; 1 living area; 1 dining area; Other interior features
• Laundry & utility: Other laundry features

🏷️ Possibly a rental listed for sale. The $36,500 price doesn't fit this home's estimated sale value (~$122,470) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $36k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $544 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $36k).
• Recommended offer: $35k (3.0% below list) — sets the bar for market timing.
• Cap rate 24.2% 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+, crime 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.
• Zoned schools: Scotland Park El (math 20% / reading 24%, grade F, #3,333 of 4,322 statewide, top 80%, 473 students, 92% FRL) — zoned schools average 92% FRL vs 54% district-wide (39 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+5.3%/yr); 133 active listings in the ZIP; lower-income renter base — watch delinquency; 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 $252 of loan paydown is wiped out by about $1k 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 $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 46 days — a 3% lower offer ($35k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y 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 1940 — 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 $35,405 (3.0% below list)

Questions for the listing agent

1. It's been on market 46 days. Have you received any prior offers? Is the seller open to a 3% 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 1940 — 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 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: 2.76% ✓
• Cap rate: 24.19%
• Cash-on-cash: 63.93%
• DSCR: 3.84
• GRM: 3.0

CMA / ARV

• ARV (median comp): $122,470
• List price: $36,500
• Delta: -70.20%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 5.27% rent growth · sell at horizon

5-year hold

• IRR: 65.6%
• Equity multiple: 4.05×
• Total profit: $31,132
• Equity at exit: $5,442

10-year hold

• IRR: 70.6%
• Equity multiple: 9.02×
• Total profit: $81,947
• Equity at exit: $3,156

Cash invested: $10,220 (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 76301

• Home prices YoY: -34.1%
• Rents YoY: 5.3%
• Active inventory: 133
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $1,008 medium
• Mortgage (P&I): −$191
• Tax est. 1.5%: −$46 /mo · $548/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$212
• Net cashflow: $544

Break-even live

Break-even rent $319

Max offer price $36,500

Occupancy floor 41%

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: $9,125
• Closing costs: $1,095
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-19
   days on market $36,500 Active 46 DOM
2. 2026-06-18
   days on market $36,500 Active 45 DOM
3. 2026-06-17
   days on market $36,500 Active 44 DOM
4. 2026-06-16
   days on market $36,500 Active 43 DOM
5. 2026-06-15
   days on market $36,500 Active 42 DOM
6. 2026-06-14
   days on market $36,500 Active 40 DOM
7. 2026-06-13
   days on market $36,500 Active 39 DOM
8. 2026-06-10
   days on market $36,500 Active 37 DOM
9. 2026-06-09
   days on market $36,500 Active 36 DOM
10. 2026-06-08
    days on market $36,500 Active 35 DOM
11. 2026-06-07
    days on market $36,500 Active 34 DOM
12. 2026-06-05
    days on market $36,500 Active 31 DOM
13. 2026-06-02
    days on market $36,500 Active 29 DOM
14. 2026-06-01
    days on market $36,500 Active 28 DOM
15. 2026-05-31
    days on market $36,500 Active 27 DOM
16. 2026-05-30
    days on market $36,500 Active 26 DOM
17. 2026-05-04
    listed $36,500 Active 829-char remark
18. 2023-04-25
    status Pending 652-char remark

    Show marketing remark (652 chars)

    Bring your ideas to this great home. Great potential and strong bones. 15 property-package offered as a bundle. 12 residential and 3 commercial, not listed here. See attached offer package with the addresses and proposal. The price for all of them combined is $575,000. A potential of over $1,200,000 ARV and a potential monthly rental income of $12,000 per month. Finaciamiento de DUENO A DUENO disponible. Terminos flexibles con 20 porciento de down. 3 commercial properties: 705 N Broadway St, 302 Jefferson St, and 709 N Broadway St. All information provided is deemed reliable but is not guaranteed and should be independently verified.

19. 2023-04-25
    soldstatus Closed 652-char remark

    Show marketing remark (652 chars)

    Bring your ideas to this great home. Great potential and strong bones. 15 property-package offered as a bundle. 12 residential and 3 commercial, not listed here. See attached offer package with the addresses and proposal. The price for all of them combined is $575,000. A potential of over $1,200,000 ARV and a potential monthly rental income of $12,000 per month. Finaciamiento de DUENO A DUENO disponible. Terminos flexibles con 20 porciento de down. 3 commercial properties: 705 N Broadway St, 302 Jefferson St, and 709 N Broadway St. All information provided is deemed reliable but is not guaranteed and should be independently verified.

20. 2023-02-09
    listed $49,900 Active 652-char remark

    Show marketing remark (652 chars)

    Bring your ideas to this great home. Great potential and strong bones. 15 property-package offered as a bundle. 12 residential and 3 commercial, not listed here. See attached offer package with the addresses and proposal. The price for all of them combined is $575,000. A potential of over $1,200,000 ARV and a potential monthly rental income of $12,000 per month. Finaciamiento de DUENO A DUENO disponible. Terminos flexibles con 20 porciento de down. 3 commercial properties: 705 N Broadway St, 302 Jefferson St, and 709 N Broadway St. All information provided is deemed reliable but is not guaranteed and should be independently verified.

21. 2022-11-29
    historical
22. 2022-08-15
    listed $49,900 Active

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% 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: $12,102
• − Mortgage interest: −$2,045
• − Property taxes: −$548
• − Insurance: −$182
• − Repairs & maintenance: −$968
• − Management: −$968
• − Depreciation: −$1,062
• Taxable income: $6,329
• Est. tax owed @ 24.0%: −$1,519
• After-tax cash flow: $5,014/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 · 13 photos

Poor 20/100 Extensive rehab

This property requires extensive repairs and updates to bring it up to a livable condition. Significant structural and aesthetic issues need addressing to increase its value.

Repairs flagged

• Major Exposed subfloor — Structural damage
• Major Missing cabinets — Aesthetic and functional damage
• Major Missing fixtures — Aesthetic and functional damage
• Major Peeling paint — Structural damage
• Major Damaged siding — Structural damage
• Major Overgrown landscaping — Structural damage

Value-add opportunities

• Resale Painting — Enhances curb appeal and value
• Resale Landscaping — Enhances curb appeal and value
• Both Rebuilding kitchen and bath — Improves functionality and value
• Both Rebuilding exterior — Improves functionality and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exposed subfloor · Structural damage	Major	$15,000–50,000
Missing cabinets · Aesthetic and functional damage	Major	$15,000–50,000
Missing fixtures · Aesthetic and functional damage	Major	$15,000–50,000
Peeling paint · Structural damage	Major	$15,000–50,000
Damaged siding · Structural damage	Major	$15,000–50,000
Overgrown landscaping · Structural damage	Major	$15,000–50,000
Total estimated repair cost · 6 items		$90,000–300,000

Value-add ROI direction

• Resale Painting — Enhances curb appeal and value ↑
• Resale Landscaping — Enhances curb appeal and value ↑
• Both Rebuilding kitchen and bath — Improves functionality and value ↑
• Both Rebuilding exterior — Improves functionality and value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 15,479
• Household income: $41,947
• Rent vs Own: 44.7% rent · 55.3% own
• Severe rent burden: 577.0

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: 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%

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

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

-26.9% since first listed

6 events — show timeline

• 2026-05-04 Listed $36,500 NTREIS
• 2023-04-25 Pending — NTREIS
• 2023-04-25 Sold (MLS) — NTREIS
• 2023-02-09 Listed $49,900 NTREIS
• 2022-11-29 Listing Removed — NTREIS
• 2022-08-15 Listed $49,900 NTREIS