406 N Independence St · Amarillo, TX 79106

$139,000

3 bd · 2.0 ba · 1,904 sqft · SingleFamily public records · 337 Days on market

Built 1999 6,970 sqft lot $73/sqft · 27% above area Est $109k · 27% over ↓ 26% since listing

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Why this score? — see what drove the F 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 +8.1/30.0
• Rent growth +3.7/5.0
• Schools +3.6/10.0
• Livability +3.3/5.0
• 1% rule +3.1/10.0
• Condition / age +2.5/5.0
• DSCR +2.2/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Affordable 3 bed, 2 bath mobile home IN Amarillo city limits, with a spacious layout and oversized yard. Located just off Western and Amarillo Blvd, this property offers quick access to shopping, schools, and main roads while still feeling private. Functional floor plan includes a large living area, open kitchen, and generously sized bedrooms. The yard is perfect for pets, gardening, or outdoor relaxing. Great opportunity for first-time buyers, investors, or anyone looking for a budget-friendly home in a convenient location.

Key facts

• Large living area
• Oversized yard
• Spacious layout

Tags

• SPACIOUS LAYOUT
• OVERSIZED YARD
• QUICK ACCESS TO SHOPPING
• QUICK ACCESS TO SCHOOLS
• QUICK ACCESS TO MAIN ROADS
• LARGE LIVING AREA

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $139k.

Deal economics

• At list price, monthly cash flow is $-134 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $115k (17.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $113k (18.8% below list).
• Recommended offer: $113k (18.8% 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; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 $961 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 337 days — a 12% lower offer ($122k) 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 $112,853 (18.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 337 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
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: 0.81% ✗
• Cap rate: 5.14%
• Cash-on-cash: -4.13%
• DSCR: 0.82
• GRM: 10.3

CMA / ARV

• ARV (median comp): $109,105
• List price: $139,000
• Delta: 27.40%
• Verdict: OVERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -21.2%
• Equity multiple: 0.25×
• Total profit: $-29,039
• Equity at exit: $20,725

10-year hold

• IRR: -11.0%
• Equity multiple: 0.29×
• Total profit: $-27,742
• Equity at exit: $12,018

Cash invested: $38,920 (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: 10.3×

Monthly cashflow live

• Estimated rent: $1,129 medium
• Mortgage (P&I): −$729
• Tax from tax record: −$239 /mo · $2,862/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$237
• Net cashflow: $-134

Break-even live

Break-even rent $1,298

Max offer price $115,360

Occupancy floor —

Sensitivity live

Price	-10% $-55	-5% $-94	+0% $-134	+5% $-173	+10% $-213
Rent	-10% $-223	-5% $-178	+0% $-134	+5% $-89	+10% $-45
Rate	-1.0pp $-64	-0.5pp $-98	base $-134	+0.5pp $-170	+1.0pp $-206

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: $34,750
• Closing costs: $4,170
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
206 N Prospect St Amarillo, TX	2.0	1.0	1479	$950	$0.64	22d	1	0.26mi
701 Sunset Ter Amarillo, TX	3.0	1.0	1444	$1,350	$0.93	22d	1	1.17mi
701 Sunset Ter Amarillo, TX	3.0	1.0	1444	$1,350	$0.93	44d	1	1.17mi

Listing history 20 events

1. 2026-06-18
   days on market $139,000 Active 337 DOM
2. 2026-06-17
   days on market $139,000 Active 336 DOM
3. 2026-06-16
   days on market $139,000 Active 335 DOM
4. 2026-06-15
   days on market $139,000 Active 334 DOM
5. 2026-06-14
   days on market $139,000 Active 332 DOM
6. 2026-06-13
   days on market $139,000 Active 331 DOM
7. 2026-06-10
   days on market $139,000 Active 329 DOM
8. 2026-06-09
   days on market $139,000 Active 328 DOM
9. 2026-06-08
   days on market $139,000 Active 327 DOM
10. 2026-06-07
    days on market $139,000 Active 326 DOM
11. 2026-06-03
    days on market $139,000 Active 322 DOM
12. 2026-06-02
    days on market $139,000 Active 321 DOM
13. 2026-06-01
    days on market $139,000 Active 320 DOM
14. 2026-05-31
    days on market $139,000 Active 319 DOM
15. 2026-05-30
    days on market $139,000 Active 318 DOM
16. 2025-07-16
    listed $139,000 Active 530-char remark

    Show marketing remark (530 chars)

    Affordable 3 bed, 2 bath mobile home IN Amarillo city limits, with a spacious layout and oversized yard. Located just off Western and Amarillo Blvd, this property offers quick access to shopping, schools, and main roads while still feeling private. Functional floor plan includes a large living area, open kitchen, and generously sized bedrooms. The yard is perfect for pets, gardening, or outdoor relaxing. Great opportunity for first-time buyers, investors, or anyone looking for a budget-friendly home in a convenient location.

17. 2025-03-24
    price $180,000
18. 2025-03-05
    price $189,000
19. 2016-12-16
    soldstatus
20. 2009-04-07
    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: $2,862 · $239/mo
• Projected year-2 tax: $2,862 · $239/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 · 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: $13,542
• − Mortgage interest: −$7,786
• − Property taxes: −$2,862
• − Insurance: −$695
• − Repairs & maintenance: −$1,083
• − Management: −$1,083
• − Depreciation: −$4,044
• Taxable loss: −$4,011
• Est. tax savings @ 24.0%: +$963
• After-tax cash flow: $-643/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

-26.5% since first listed

5 events — show timeline

• 2025-07-16 Listed $139,000 AARMLS
• 2025-03-24 Price Changed $180,000 AARMLS
• 2025-03-05 Price Changed $189,000 AARMLS
• 2016-12-16 Sold (Public Records) — Public Records
• 2009-04-07 Sold (Public Records) — Public Records

Property tax history

+7.4%/yr

Latest (2025): $2,862 · +8.5% YoY. Source: county tax records.