1407 Carter St · Amarillo, TX 79104

$69,900

4 bd · 2.0 ba · 1,320 sqft · SingleFamily public records · 21 Days on market

Built 1951 0.51 ac lot

---

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
• Appreciation +9.7/10.0
• ARV discount +7.5/15.0
• Schools +3.6/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

INVESTMENT OPPORTUNITY on approximately half an acre! This property offers endless potential for the right investor or developer. Home has been condemned by the city and is being sold as-is. Buyer may choose to bring the property back to code per city requirements or take advantage of the spacious lot to build new investment properties or redevelopment opportunities. Conveniently located with quick access to I-40 and approximately 20 minutes from the new Fermi plant, making this an ideal location for future growth and investment potential. Owner financing available with 10% down, 8% interest, no prepayment penalty, and no backend points. Financing available for up to 1 year, possibly 2 depe

Key facts

• Spacious lot
• Quick access to i-40
• 0.51 acre lot

Tags

• SPACIOUS LOT
• QUICK ACCESS TO I-40

Property features AI

Exterior

• Home design: Single-family residence; Residential property
• Exterior features: Approximately 0.51-acre lot; Zoned: NE Amarillo in City limits

Interior

• Bathrooms: Two full bathrooms
• Interior features: 2 full bathrooms

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $465 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $69k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 66/100 on livability (#624 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: amenities C-, crime F, commute F.
• Amarillo ISD (urban): math 44% / reading 41% proficiency, ranked #336 of 826 in TX (top 41%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Humphrey'S Highland El (math 39% / reading 47%, grade F, #1,283 of 4,322 statewide, top 30%, 509 students, 90% FRL); Bowie Middle (math 32% / reading 37%, grade F, #858 of 1,662 statewide, top 54%, 748 students, 87% FRL); Caprock H S (math 33% / reading 34%, grade F, #1,011 of 1,632 statewide, top 63%, 2,090 students, 76% FRL) — zoned schools average 85% FRL vs 58% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 14 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 75% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,214 units permitted in Potter County in 2024 (650 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($483 loan paydown + $7k appreciation (9.4% local appreciation)).
• At projected returns (9.4% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($69k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 3.8% of price; built in 1951 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $68,851 (1.5% below list)

Questions for the listing agent

1. Built in 1951 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 1.96% ✓
• Cap rate: 14.27%
• Cash-on-cash: 28.50%
• DSCR: 2.27
• GRM: 4.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

9.38% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 45.0%
• Equity multiple: 4.31×
• Total profit: $64,822
• Equity at exit: $59,827

10-year hold

• IRR: 39.4%
• Equity multiple: 9.54×
• Total profit: $167,128
• Equity at exit: $125,813

Cash invested: $19,572 (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 79104

• Home prices YoY: 4.5%
• Active inventory: 14
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $1,368 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$220 /mo · $2,639/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$287
• Net cashflow: $465

Break-even live

Break-even rent $779

Max offer price $69,900

Occupancy floor 61%

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2321 S Eastern St Amarillo, TX	3.0	1.0	1270	$1,150	$0.91	11d	1	0.66mi
621 S Hill St Amarillo, TX	3.0	2.0	1240	$1,600	$1.29	44d	1	0.75mi
3213 Hodges St Amarillo, TX	3.0	1.5	1092	$1,475	$1.35	44d	1	1.17mi
2715 S Marrs St Amarillo, TX	3.0	1.5	1274	$1,295	$1.02	44d	1	1.38mi

Listing history 18 events

1. 2026-06-18
   days on market $69,900 Active 21 DOM
2. 2026-06-17
   days on market $69,900 Active 20 DOM
3. 2026-06-16
   days on market $69,900 Active 19 DOM
4. 2026-06-15
   days on market $69,900 Active 18 DOM
5. 2026-06-14
   days on market $69,900 Active 16 DOM
6. 2026-06-13
   days on market $69,900 Active 15 DOM
7. 2026-06-10
   days on market $69,900 Active 13 DOM
8. 2026-06-09
   days on market $69,900 Active 12 DOM
9. 2026-06-08
   days on market $69,900 Active 11 DOM
10. 2026-06-07
    days on market $69,900 Active 10 DOM
11. 2026-06-03
    days on market $69,900 Active 6 DOM
12. 2026-06-02
    days on market $69,900 Active 5 DOM
13. 2026-06-01
    days on market $69,900 Active 4 DOM
14. 2026-05-31
    days on market $69,900 Active 3 DOM
15. 2026-05-30
    days on market $69,900 Active 2 DOM
16. 2026-05-28
    listed $69,900 Active
17. 2024-12-19
    soldstatus
18. 2024-12-19
    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: $2,639 · $220/mo
• Projected year-2 tax: $2,639 · $220/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 10/10 Extreme
• 🌡 Heat 4/10 Moderate 7 d/yr ≥97°F today · 20 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: $16,412
• − Mortgage interest: −$3,915
• − Property taxes: −$2,639
• − Insurance: −$350
• − Repairs & maintenance: −$1,313
• − Management: −$1,313
• − Depreciation: −$2,033
• Taxable income: $4,849
• Est. tax owed @ 24.0%: −$1,164
• After-tax cash flow: $4,415/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: Amarillo ISD
• NCES district ID: 4808130
• Math proficiency: 44% ▼ -9.00%
• Reading proficiency: 41% ▼ -3.00%
• Median HH income: $43,478
• Composite: 35.96/100
• National rank: #4798
• State rank: #336 of 826 in TX

Livability — Amarillo

• Score: 66/100
• State rank: #624
• US rank: #11876

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Amarillo, TX
• City population: 185,802
• Population (ZIP): 7,236

Population outlook (Potter County) Hauer SSP2

• Today (2025): 121,296 people
• By 2030: 120,883 · -0.3%
• By 2040: 119,668 · -1.3%
• By 2050: 117,788 · -2.9%
• By 2075: 110,250 · -9.1%
• By 2100: 92,923 · -23.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (71%)
• Race & ethnicity: Hispanic / Latino 71% Two or more races 33% White 22% Black 3% Asian 2%
• Hispanic origin (detail): Mexican 67%
• Common ancestry: Lithuanian 2% Iranian 2% Slovak 1%
• Foreign-born: 18% · Canada, Vietnam
• Languages at home: 56% English-only · Spanish 42% Other Indo-European 1% Other Asian/Pacific 1%

Political lean MEDSL · Potter

• 2024 margin: Solid R (+44.4) · D 27.3% · R 71.7% · Other 1.1%
• 2008→2024 swing: -5.0pp toward R · 2008: -39.4pp · 2024: -44.4pp
• All cycles: 2024: R+44.4 2020: R+38.7 2016: R+41.9 2012: R+44.6 2008: R+39.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 9.38%
• Current HPI: 217.4814
• 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

3 events — show timeline

• 2026-05-28 Listed $69,900 AARMLS
• 2024-12-19 Sold (Public Records) — Public Records
• 2024-12-19 Sold (Public Records) — Public Records

Property tax history

+4.6%/yr

Latest (2025): $2,639 · +42.6% YoY. Source: county tax records.