116 Dewey Ave · Amarillo, TX 79124

$464,900

4 bd · 3.0 ba · 2,892 sqft · SingleFamily public records · 78 Days on market

Built 1967

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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 +14.3/30.0
• ARV discount +7.5/15.0
• DSCR +4.4/10.0
• 1% rule +3.6/10.0
• Schools +3.6/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

A spacious two story home just over the bridge in Walnut Hills, set along a beautiful creek. This 4 bedroom, 2.5 bath property features a stunning outdoor space, a large family room with incredible views, and a versatile upstairs playroom. Additional highlights include a generous office and a well-sized laundry room, offering both comfort and functionality in a peaceful, scenic setting. Perfect for entertaining or relaxing, this home blends natural beauty with everyday convenience.

Key facts

• Large family room
• Generous office
• Outdoor space

Tags

• OUTDOOR SPACE
• LARGE FAMILY ROOM
• UPSTAIRS PLAYROOM
• GENEROUS OFFICE
• WELL-SIZED LAUNDRY ROOM
• PEACEFUL SETTING

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $465k.

Deal economics

• At list price, monthly cash flow is $86 ($1k/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 $400k (14.0% below list).
• Recommended offer: $400k (14.0% 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: 309 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 $3k of loan paydown is wiped out by about $14k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 78 days — a 6% lower offer ($437k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $400,000 (14.0% below list)

Questions for the listing agent

1. It's been on market 78 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
2. Built in 1967 — 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. 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: 0.86% ✗
• Cap rate: 6.51%
• Cash-on-cash: 0.79%
• DSCR: 1.04
• GRM: 9.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -15.0%
• Equity multiple: 0.46×
• Total profit: $-69,896
• Equity at exit: $69,318

10-year hold

• IRR: -6.5%
• Equity multiple: 0.59×
• Total profit: $-53,931
• Equity at exit: $40,196

Cash invested: $130,172 (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 79124

• Home prices YoY: -28.7%
• Active inventory: 309
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $4,000 medium
• Mortgage (P&I): −$2,438
• Tax from tax record: −$443 /mo · $5,310/yr
• Insurance: −$194
• HOA: −$0
• Vacancy / Maint / Mgmt: −$840
• Net cashflow: $86

Break-even live

Break-even rent $3,891

Max offer price $464,900

Occupancy floor 93%

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: $116,225
• Closing costs: $13,947
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3100 River Birch Pl Amarillo, TX	4.0	2.5	2773	$4,000	$1.44	13d	1	0.51mi
3100 River Birch Pl Amarillo, TX	4.0	2.5	2773	$4,000	$1.44	43d	1	0.51mi

Listing history 9 events

1. 2026-06-09
   status $464,900 Pending 78 DOM
2. 2026-06-08
   days on market $464,900 Active 78 DOM
3. 2026-06-07
   days on market $464,900 Active 77 DOM
4. 2026-06-03
   days on market $464,900 Active 73 DOM
5. 2026-06-02
   days on market $464,900 Active 72 DOM
6. 2026-06-01
   days on market $464,900 Active 71 DOM
7. 2026-05-31
   days on market $464,900 Active 70 DOM
8. 2026-05-30
   days on market $464,900 Active 69 DOM
9. 2026-03-23
   listed $464,900 Active 486-char remark

   Show marketing remark (486 chars)

   A spacious two story home just over the bridge in Walnut Hills, set along a beautiful creek. This 4 bedroom, 2.5 bath property features a stunning outdoor space, a large family room with incredible views, and a versatile upstairs playroom. Additional highlights include a generous office and a well-sized laundry room, offering both comfort and functionality in a peaceful, scenic setting. Perfect for entertaining or relaxing, this home blends natural beauty with everyday convenience.

ⓘ 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: $5,310 · $443/mo
• Projected year-2 tax: $8,508 · $709/mo
• Expected delta: +$3,197/yr (+$266/mo · 60.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (shaded) · 22% chance over 30 yrs
• 🔥 Wildfire 10/10 Extreme
• 🌡 Heat 4/10 Moderate 5 d/yr ≥98°F today · 14 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: $48,000
• − Mortgage interest: −$26,042
• − Property taxes: −$5,310
• − Insurance: −$2,324
• − Repairs & maintenance: −$3,840
• − Management: −$3,840
• − Depreciation: −$13,524
• Taxable loss: −$6,881
• Est. tax savings @ 24.0%: +$1,651
• After-tax cash flow: $2,681/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

• City population: 185,802
• Population (ZIP): 11,800

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 White (81%)
• Race & ethnicity: White 81% Hispanic / Latino 16% Two or more races 6%
• Hispanic origin (detail): Mexican 12% Cuban 1%
• Common ancestry: Slovak 4% Italian 2% Romanian 2%
• Foreign-born: 2% · Canada, China
• Languages at home: 90% English-only · Spanish 8% 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: ▼ -66.66%
• Current HPI: 165.6073
• 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

1 event — show timeline

• 2026-03-23 Listed $464,900 AARMLS

Property tax history

+1.7%/yr

Latest (2025): $5,310 · +9.9% YoY. Source: county tax records.