205 W Washington Ave · Iowa Park, TX 76367

$87,900

3 bd · 1.0 ba · 1,156 sqft · SingleFamily public records · 45 Days on market

Built 1940 $76/sqft · 26% below area Est $119k · 26% under

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Why this score? — see what drove the A 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Schools +4.6/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Charming home located in Iowa Park. Quiet neighborhood & just blocks from the library and local banks and shopping. Home features 2 bedrooms, 1 full bath, large sun room on back. Wood laminate flooring throughout living and dining. Carpet in bedrooms. Exterior features large covered wood deck & low maintance vinyl siding.

Key facts

• Large living area
• Kitchen remodeled
• Partially remodeled

Tags

• PARTIALLY REMODELED
• LARGE LIVING AREA
• BREAKFAST AREA
• KITCHEN REMODELED
• BATHROOM REMODELED
• SOLAR PANELS

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; Single-story; North-facing
• Construction: Vinyl siding
• Exterior features: Covered patio/porch; Fenced yard; Composition roof

Interior

• Kitchen: Dishwasher; Refrigerator
• Heating & cooling: Central heating (natural gas); Central air conditioning
• Interior features: Eat-in kitchen

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $88k.

Deal economics

• At list price, monthly cash flow is $524 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $88k).
• Recommended offer: $85k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 72/100 on livability (#272 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• Iowa Park CISD (town): math 57% / reading 49% proficiency, ranked #129 of 826 in TX (top 16%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Bradford El (math 58% / reading 51%, grade C, #621 of 4,322 statewide, top 15%, 447 students, 46% FRL); Iowa Park Jjaep (1 students, 0% FRL); Iowa Park H S (math 72% / reading 67%, grade B, #119 of 1,632 statewide, top 9%, 544 students, 34% FRL).
• Market conditions: 63 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 231 units permitted in Wichita County in 2024 (10 in 5+ unit buildings).

Forward outlook

• In year one you build about $9k of equity ($608 loan paydown + $9k appreciation (10.0% local appreciation)).
• Wichita County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($85k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y 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: severe wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $85,263 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.71% ✓
• Cap rate: 13.44%
• Cash-on-cash: 25.53%
• DSCR: 2.14
• GRM: 4.9

CMA / ARV

• ARV (median comp): $118,938
• List price: $87,900
• Delta: -26.10%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
201 S Park Ave	0.36mi	2/1.5 (-1)	1,320 (+14%)	3mo	$50,000	$38	50

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 43.5%
• Equity multiple: 4.30×
• Total profit: $81,276
• Equity at exit: $79,187

10-year hold

• IRR: 37.7%
• Equity multiple: 9.66×
• Total profit: $213,232
• Equity at exit: $170,770

Cash invested: $24,612 (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 76367

• Home prices YoY: 6.7%
• Active inventory: 63
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,500 medium
• Mortgage (P&I): −$461
• Tax from tax record: −$164 /mo · $1,966/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$315
• Net cashflow: $524

Break-even live

Break-even rent $837

Max offer price $87,900

Occupancy floor 60%

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: $21,975
• Closing costs: $2,637
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
706 W Louisa Ave Iowa Park, TX	3.0	1.5	1144	$1,500	$1.31	44d	1	0.69mi

Listing history 22 events

1. 2026-06-19
   days on market $87,900 Active 45 DOM
2. 2026-06-18
   days on market $87,900 Active 44 DOM
3. 2026-06-17
   days on market $87,900 Active 43 DOM
4. 2026-06-16
   days on market $87,900 Active 42 DOM
5. 2026-06-15
   days on market $87,900 Active 41 DOM
6. 2026-06-14
   days on market $87,900 Active 39 DOM
7. 2026-06-13
   days on market $87,900 Active 38 DOM
8. 2026-06-10
   days on market $87,900 Active 36 DOM
9. 2026-06-09
   days on market $87,900 Active 35 DOM
10. 2026-06-08
    days on market $87,900 Active 34 DOM
11. 2026-06-07
    days on market $87,900 Active 33 DOM
12. 2026-06-03
    days on market $87,900 Active 29 DOM
13. 2026-06-02
    days on market $87,900 Active 28 DOM
14. 2026-06-01
    days on market $87,900 Active 27 DOM
15. 2026-05-31
    days on market $87,900 Active 26 DOM
16. 2026-05-30
    days on market $87,900 Active 25 DOM
17. 2026-05-04
    listed $87,900 Active 468-char remark
18. 2019-02-20
    soldstatus 335-char remark

    Show marketing remark (335 chars)

    Charming home located in Iowa Park. Quiet neighborhood & just blocks from the library and local banks and shopping. Home features 2 bedrooms, 1 full bath, large sun room on back. Wood laminate flooring throughout living and dining. Carpet in bedrooms. Exterior features large covered wood deck & low maintance vinyl siding.

19. 2019-02-19
    soldstatus
20. 2019-01-07
    listed $72,900 335-char remark

    Show marketing remark (335 chars)

    Charming home located in Iowa Park. Quiet neighborhood & just blocks from the library and local banks and shopping. Home features 2 bedrooms, 1 full bath, large sun room on back. Wood laminate flooring throughout living and dining. Carpet in bedrooms. Exterior features large covered wood deck & low maintance vinyl siding.

21. 2007-04-04
    soldstatus
22. 2004-06-21
    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: $1,966 · $164/mo
• Projected year-2 tax: $1,966 · $164/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 8/10 Severe
• 🌡 Heat 7/10 Severe 7 d/yr ≥110°F today · 19 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: $18,000
• − Mortgage interest: −$4,924
• − Property taxes: −$1,966
• − Insurance: −$440
• − Repairs & maintenance: −$1,440
• − Management: −$1,440
• − Depreciation: −$2,557
• Taxable income: $5,234
• Est. tax owed @ 24.0%: −$1,256
• After-tax cash flow: $5,027/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: Iowa Park CISD
• NCES district ID: 4824260
• Math proficiency: 57% ▼ -1.00%
• Reading proficiency: 49% ▼ -4.00%
• Median HH income: $52,689
• Composite: 45.57/100
• National rank: #2597
• State rank: #129 of 826 in TX

Livability — Iowa Park

• Score: 72/100
• State rank: #272
• US rank: #6350

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Iowa Park, TX
• City population: 14,013
• Population (ZIP): 14,013

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: Predominantly White (70%)
• Race & ethnicity: White 70% Hispanic / Latino 16% Black 10% Two or more races 8% Asian 1% Native American 1%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Lithuanian 1% Portuguese 1% Slovak 1%
• Foreign-born: 4% · Canada, Vietnam
• Languages at home: 93% English-only · Spanish 6%

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: ▲ 24.29%
• Current HPI: 387.78
• 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

+20.6% since first listed

6 events — show timeline

• 2026-05-04 Listed $87,900 WFAOR
• 2019-02-20 Sold (MLS) — WFAOR
• 2019-02-19 Sold (Public Records) — Public Records
• 2019-01-07 Listed $72,900 WFAOR
• 2007-04-04 Sold (Public Records) — Public Records
• 2004-06-21 Sold (Public Records) — Public Records

Property tax history

+5.0%/yr

Latest (2025): $1,966 · +2.4% YoY. Source: county tax records.