316 S Virginia St · Amarillo, TX 79106

$120,000

3 bd · 1.0 ba · 1,054 sqft · SingleFamily public records · 73 Days on market

Built 1927 $114/sqft · 43% below area Est $211k · 43% under

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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).

• ARV discount +15.0/15.0
• Cash flow +14.7/30.0
• DSCR +4.5/10.0
• 1% rule +3.8/10.0
• Rent growth +3.7/5.0
• Schools +3.6/10.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This stunning 3 bedroom, 1.5 bathroom home features a bright open-concept layout, beautiful modern flooring, and tons of natural light. The stylish living room offers a custom built-in accent wall with shelving that adds character and charm. Enjoy peace of mind with a brand new HVAC system and fresh updates throughout.

Key facts

• Fresh updates
• Open-concept layout
• New hvac system

Tags

• OPEN-CONCEPT LAYOUT
• CUSTOM BUILT-IN ACCENT WALL
• NEW HVAC SYSTEM
• FRESH UPDATES

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $31 ($369/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $106k (11.9% below list).
• Recommended offer: $106k (11.9% below list) — sets the bar for 1% rule.

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-, schools D, crime 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.
• Market conditions: Rents rising fast (+4.7%/yr); 132 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 1,214 units permitted in Potter County in 2024 (650 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $830 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 73 days — a 6% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $10k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1927 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $105,695 (11.9% below list)

Questions for the listing agent

1. It's been on market 73 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1927 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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?
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: 0.88% ✗
• Cap rate: 6.60%
• Cash-on-cash: 1.10%
• DSCR: 1.05
• GRM: 9.5

CMA / ARV

• ARV (median comp): $211,302
• List price: $120,000
• Delta: -43.21%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.69% rent growth · sell at horizon

5-year hold

• IRR: -12.7%
• Equity multiple: 0.53×
• Total profit: $-15,660
• Equity at exit: $17,892

10-year hold

• IRR: -1.4%
• Equity multiple: 0.90×
• Total profit: $-3,353
• Equity at exit: $10,375

Cash invested: $33,600 (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 79106

• Rents YoY: 4.7%
• Active inventory: 132
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,057 high
• Mortgage (P&I): −$629
• Tax from tax record: −$125 /mo · $1,500/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$222
• Net cashflow: $31

Break-even live

Break-even rent $1,018

Max offer price $120,000

Occupancy floor 92%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
406 S Tennessee St Amarillo, TX	2.0	1.0	837	$895	$1.07	21d	1	0.28mi
802 S Kentucky St Amarillo, TX	2.0	1.0	970	$899	$0.93	43d	1	0.29mi
705 S Florida St Amarillo, TX	2.0	1.0	1014	$850	$0.84	21d	1	0.30mi
108 N Florida St Amarillo, TX	2.0	1.0	960	$800	$0.83	21d	1	0.42mi
2306 SW 8th Ave Unit 2 Amarillo, TX	2.0	1.0	700	$950	$1.36	43d	1	0.50mi
89 N Fairmont St Amarillo, TX	3.0	1.0	780	$1,000	$1.28	43d	1	0.51mi
206 N Prospect St Amarillo, TX	2.0	1.0	1479	$950	$0.64	21d	1	0.62mi
1008 S Mississippi St Amarillo, TX	3.0	2.0	1061	$1,275	$1.20	21d	1	0.62mi
913 S Rusk St Amarillo, TX	3.0	2.0	1450	$1,450	$1.00	13d	1	0.65mi
701 Sunset Ter Amarillo, TX	3.0	1.0	1444	$1,350	$0.93	21d	1	0.67mi
701 Sunset Ter Amarillo, TX	3.0	1.0	1444	$1,350	$0.93	43d	1	0.67mi
3118 SW 15th Ave Amarillo, TX	2.0–3.0	1.0–2.0	1015	$900	$0.89	13d	17	0.89mi
4224 SW 2nd Ave Amarillo, TX	2.0	1.0	891	$775	$0.87	21d	1	0.90mi
4226 SW 2nd Ave Amarillo, TX	2.0	2.0	800	$949	$1.19	13d	1	0.92mi
4231 SW 2nd Ave Amarillo, TX	2.0	1.0	891	$875	$0.98	21d	1	0.93mi
1326 Hillcrest St Amarillo, TX	3.0	1.0	958	$1,295	$1.35	21d	1	1.34mi
1809 Chama St Amarillo, TX	3.0	1.0	1396	$1,600	$1.15	43d	1	1.36mi
900 S Avondale St Amarillo, TX	2.0	1.5	1000	$875	$0.88	13d	1	1.38mi
1314 NW 10th Ave Amarillo, TX	3.0	1.0	1222	$1,100	$0.90	21d	1	1.44mi
1637 NW 16th Ave Amarillo, TX	3.0	1.0	1056	$1,100	$1.04	21d	1	1.49mi

Listing history 26 events

1. 2026-06-18
   days on market $120,000 Active 73 DOM
2. 2026-06-17
   days on market $120,000 Active 72 DOM
3. 2026-06-16
   days on market $120,000 Active 71 DOM
4. 2026-06-15
   days on market $120,000 Active 70 DOM
5. 2026-06-14
   days on market $120,000 Active 68 DOM
6. 2026-06-13
   days on market $120,000 Active 67 DOM
7. 2026-06-10
   days on market $120,000 Active 65 DOM
8. 2026-06-09
   days on market $120,000 Active 64 DOM
9. 2026-06-09
   price $120,000 Active 63 DOM
10. 2026-06-08
    days on market $125,000 Active 63 DOM
11. 2026-06-07
    days on market $125,000 Active 62 DOM
12. 2026-06-03
    days on market $125,000 Active 58 DOM
13. 2026-06-02
    days on market $125,000 Active 57 DOM
14. 2026-06-01
    days on market $125,000 Active 56 DOM
15. 2026-05-31
    days on market $125,000 Active 55 DOM
16. 2026-05-30
    days on market $125,000 Active 54 DOM
17. 2026-05-19
    price $125,000 320-char remark

    Show marketing remark (320 chars)

    This stunning 3 bedroom, 1.5 bathroom home features a bright open-concept layout, beautiful modern flooring, and tons of natural light. The stylish living room offers a custom built-in accent wall with shelving that adds character and charm. Enjoy peace of mind with a brand new HVAC system and fresh updates throughout.

18. 2026-04-27
    status Active 320-char remark

    Show marketing remark (320 chars)

    This stunning 3 bedroom, 1.5 bathroom home features a bright open-concept layout, beautiful modern flooring, and tons of natural light. The stylish living room offers a custom built-in accent wall with shelving that adds character and charm. Enjoy peace of mind with a brand new HVAC system and fresh updates throughout.

19. 2026-03-31
    status Pending 320-char remark

    Show marketing remark (320 chars)

    This stunning 3 bedroom, 1.5 bathroom home features a bright open-concept layout, beautiful modern flooring, and tons of natural light. The stylish living room offers a custom built-in accent wall with shelving that adds character and charm. Enjoy peace of mind with a brand new HVAC system and fresh updates throughout.

20. 2026-03-10
    listed $130,000 Active 320-char remark

    Show marketing remark (320 chars)

    This stunning 3 bedroom, 1.5 bathroom home features a bright open-concept layout, beautiful modern flooring, and tons of natural light. The stylish living room offers a custom built-in accent wall with shelving that adds character and charm. Enjoy peace of mind with a brand new HVAC system and fresh updates throughout.

21. 2025-12-08
    soldstatus Closed 183-char remark

    Show marketing remark (183 chars)

    GREAT INVESTMENT OPPORTUNITY! FIXER UPPER PRICED TO SELL! CASH OR CONVENTIONAL ONLY!! This is a 3/1 home with a carport and detached garage. Good size backyard with storm shelter.

22. 2025-12-08
    soldstatus

    Show marketing remark (183 chars)

    GREAT INVESTMENT OPPORTUNITY! FIXER UPPER PRICED TO SELL! CASH OR CONVENTIONAL ONLY!! This is a 3/1 home with a carport and detached garage. Good size backyard with storm shelter.

23. 2025-12-04
    status Pending 183-char remark

    Show marketing remark (183 chars)

    GREAT INVESTMENT OPPORTUNITY! FIXER UPPER PRICED TO SELL! CASH OR CONVENTIONAL ONLY!! This is a 3/1 home with a carport and detached garage. Good size backyard with storm shelter.

24. 2025-10-10
    listed $74,900 Active 183-char remark

    Show marketing remark (183 chars)

    GREAT INVESTMENT OPPORTUNITY! FIXER UPPER PRICED TO SELL! CASH OR CONVENTIONAL ONLY!! This is a 3/1 home with a carport and detached garage. Good size backyard with storm shelter.

25. 2017-10-26
    soldstatus
26. 2017-08-17
    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: $1,500 · $125/mo
• Projected year-2 tax: $2,196 · $183/mo
• Expected delta: +$696/yr (+$58/mo · 46.4%)

ⓘ 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 6 d/yr ≥97°F today · 18 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: $12,683
• − Mortgage interest: −$6,722
• − Property taxes: −$1,500
• − Insurance: −$600
• − Repairs & maintenance: −$1,015
• − Management: −$1,015
• − Depreciation: −$3,491
• Taxable loss: −$1,658
• Est. tax savings @ 24.0%: +$398
• After-tax cash flow: $767/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
• County: Potter County · 72,216 people
• City population: 185,802
• Metro: Amarillo, TX
• Population (ZIP): 26,161
• Household income: $59,493
• Rent vs Own: 48.4% rent · 51.6% own
• Severe rent burden: 994.0

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: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 56% Hispanic / Latino 33% Two or more races 16% Black 5% Asian 4%
• Hispanic origin (detail): Mexican 29%
• Common ancestry: Italian 3% Slovak 2% Iranian 2%
• Foreign-born: 9% · Canada, Philippines, Vietnam
• Languages at home: 80% English-only · Spanish 16% Other Asian/Pacific 2% Vietnamese 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: ▼ -179.04%
• Current HPI: 178.2153
• Rent YoY: ▲ 4.69%
• Metro: Amarillo, 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

+66.9% since first listed

10 events — show timeline

• 2026-05-19 Price Changed $125,000 AARMLS
• 2026-04-27 Relisted — AARMLS
• 2026-03-31 Pending — AARMLS
• 2026-03-10 Listed $130,000 AARMLS
• 2025-12-08 Sold (Public Records) — Public Records
• 2025-12-08 Sold (MLS) — AARMLS
• 2025-12-04 Pending — AARMLS
• 2025-10-10 Listed $74,900 AARMLS
• 2017-10-26 Sold (Public Records) — Public Records
• 2017-08-17 Sold (Public Records) — Public Records

Property tax history

+4.8%/yr

Latest (2025): $1,500 · +1.0% YoY. Source: county tax records.