1511 N 7th St · Wichita Falls, TX 76306

$25,000

3 bd · 1.0 ba · 841 sqft · SingleFamily public records · 219 Days on market

Built 1940 7,013 sqft lot $30/sqft · 68% below area ↓ 38% since listing

---

Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.5/5.0
• Rent growth +3.2/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This is a rare opportunity to acquire multiple neighboring single-family homes in the heart of Wichita Falls, ideal for developers, investors, or families seeking long-term value. The properties are being sold as-is and offer the added benefit of no HOA. Centrally located, the homes provide convenient access to city amenities, parks, and major highways. Offered at modest price points, this portfolio presents an excellent opportunity for smaller investors as well. Whether you are looking to flip, hold as rentals, redevelop, or create a family compound with character and ample outdoor space, this is a unique opportunity not to be missed.

Key facts

• Ample outdoor space
• No hoa
• Corner lot

Tags

• NO HOA
• CORNER LOT
• AMPLE OUTDOOR SPACE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $25k.

Deal economics

• At list price, monthly cash flow is $699 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $25k).
• Recommended offer: $22k (12.0% below list) — sets the bar for market timing.
• Cap rate 39.8% 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 (+2.8%/yr); 114 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 45d 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 $173 of loan paydown is wiped out by about $750 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 + 2.8% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 219 days — a 12% lower offer ($22k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $5k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk; major wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $22,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 219 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 1940 — 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 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 4.50% ✓
• Cap rate: 39.85%
• Cash-on-cash: 119.83%
• DSCR: 6.33
• GRM: 1.9

CMA / ARV

• ARV (median comp): $77,582
• List price: $25,000
• Delta: -67.78%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1509 N 7th St	0.01mi	2/1.0 (-1)	869 (+3%)	6mo	$50,000	$58	84

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 · 2.81% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 6.75×
• Total profit: $40,282
• Equity at exit: $3,728

10-year hold

• IRR: —
• Equity multiple: 14.09×
• Total profit: $91,638
• Equity at exit: $2,162

Cash invested: $7,000 (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 76306

• Home prices YoY: -30.1%
• Rents YoY: 2.8%
• Active inventory: 114
• Price-to-rent: 1.9×

Monthly cashflow live

• Estimated rent: $1,125 medium
• Mortgage (P&I): −$131
• Tax from tax record: −$48 /mo · $578/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$236
• Net cashflow: $699

Break-even live

Break-even rent $240

Max offer price $25,000

Occupancy floor 33%

Sensitivity live

Price	-10% $713	-5% $706	+0% $699	+5% $692	+10% $685
Rent	-10% $610	-5% $655	+0% $699	+5% $743	+10% $788
Rate	-1.0pp $712	-0.5pp $705	base $699	+0.5pp $693	+1.0pp $686

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: $6,250
• Closing costs: $750
• Reserves months: —
• Total cash needed: —

Rent comps 4 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	1.02mi
1810 7th St Unit 1/2 Wichita Falls, TX	2.0	1.0	806	$775	$0.96	44d	1	1.07mi
1200 Ridgeway Dr Wichita Falls, TX	1.0–3.0	1.0–2.0	889	$1,025	$1.15	44d	5	1.35mi
2801 Roanoke Dr Unit B Wichita Falls, TX	3.0	2.0	876	$990	$1.13	44d	1	1.39mi

Listing history 22 events

1. 2026-06-19
   days on market $25,000 Active 219 DOM
2. 2026-06-18
   days on market $25,000 Active 218 DOM
3. 2026-06-17
   days on market $25,000 Active 217 DOM
4. 2026-06-16
   days on market $25,000 Active 216 DOM
5. 2026-06-15
   days on market $25,000 Active 215 DOM
6. 2026-06-14
   days on market $25,000 Active 213 DOM
7. 2026-06-13
   days on market $25,000 Active 212 DOM
8. 2026-06-10
   days on market $25,000 Active 210 DOM
9. 2026-06-09
   days on market $25,000 Active 209 DOM
10. 2026-06-08
    days on market $25,000 Active 208 DOM
11. 2026-06-07
    days on market $25,000 Active 207 DOM
12. 2026-06-05
    days on market $25,000 Active 204 DOM
13. 2026-06-02
    days on market $25,000 Active 202 DOM
14. 2026-06-01
    days on market $25,000 Active 201 DOM
15. 2026-05-31
    days on market $25,000 Active 200 DOM
16. 2026-05-30
    days on market $25,000 Active 199 DOM
17. 2026-03-23
    price $25,000 649-char remark

    Show marketing remark (649 chars)

    This is a rare opportunity to acquire multiple neighboring single-family homes in the heart of Wichita Falls, ideal for developers, investors, or families seeking long-term value. The properties are being sold as-is and offer the added benefit of no HOA. Centrally located, the homes provide convenient access to city amenities, parks, and major highways. Offered at modest price points, this portfolio presents an excellent opportunity for smaller investors as well. Whether you are looking to flip, hold as rentals, redevelop, or create a family compound with character and ample outdoor space, this is a unique opportunity not to be missed.

18. 2025-11-12
    listed $30,000 Active 649-char remark

    Show marketing remark (649 chars)

    This is a rare opportunity to acquire multiple neighboring single-family homes in the heart of Wichita Falls, ideal for developers, investors, or families seeking long-term value. The properties are being sold as-is and offer the added benefit of no HOA. Centrally located, the homes provide convenient access to city amenities, parks, and major highways. Offered at modest price points, this portfolio presents an excellent opportunity for smaller investors as well. Whether you are looking to flip, hold as rentals, redevelop, or create a family compound with character and ample outdoor space, this is a unique opportunity not to be missed.

19. 2025-11-08
    historical
20. 2025-09-01
    listed $40,000 Active
21. 2023-10-02
    soldstatus
22. 2023-05-23
    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: $578 · $48/mo
• Projected year-2 tax: $578 · $48/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 5/10 Major FEMA zone X (shaded) · 35% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 21 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 9% 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: $13,499
• − Mortgage interest: −$1,400
• − Property taxes: −$578
• − Insurance: −$125
• − Repairs & maintenance: −$1,080
• − Management: −$1,080
• − Depreciation: −$727
• Taxable income: $8,509
• Est. tax owed @ 24.0%: −$2,042
• After-tax cash flow: $6,346/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): 13,963
• Household income: $46,957
• Rent vs Own: 41.4% rent · 58.6% own
• Severe rent burden: 235.0

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 0.59)
• Race & ethnicity: White 58% Hispanic / Latino 21% Black 16% Two or more races 9% Asian 2%
• Hispanic origin (detail): Mexican 18% Cuban 1%
• Common ancestry: Italian 2% Serbian 1% Slovak 1%
• Foreign-born: 6% · Canada
• Languages at home: 88% English-only · Spanish 8% Tagalog/Filipino 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: ▼ -71.29%
• Current HPI: 165.6314
• Rent YoY: ▲ 2.81%
• 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

-37.5% since first listed

6 events — show timeline

• 2026-03-23 Price Changed $25,000 NTREIS
• 2025-11-12 Listed $30,000 NTREIS
• 2025-11-08 Listing Removed — NTREIS
• 2025-09-01 Listed $40,000 NTREIS
• 2023-10-02 Sold (Public Records) — Public Records
• 2023-05-23 Sold (Public Records) — Public Records

Property tax history

+4.6%/yr

Latest (2025): $578 · -0.7% YoY. Source: county tax records.