903 S Manhattan St · Amarillo, TX 79104

$94,000

2 bd · 1.0 ba · 908 sqft · SingleFamily public records · 32 Days on market

Built 1951 5,663 sqft lot ↓ 5% since listing

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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).

• Cash flow +21.9/30.0
• Appreciation +9.7/10.0
• ARV discount +7.5/15.0
• DSCR +7.0/10.0
• 1% rule +6.4/10.0
• Schools +3.6/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Great starter home or investment property! This 2 bedroom 1 bath home has a great living and dining space, a remodeled 3/4 bath, and more! There's extra space off the main living area that would be great for a formal dining or an office! There's a spacious, covered deck out back, fully fenced yard, and storage building out back. This home is equipped with durable siding, updated windows, a metal roof, CH & A, updated electrical service panel, and a Generac generator. This home has amazing potential and is ready for its new owner! Propety to be sold AS-IS.

Key facts

• Covered deck
• Durable siding
• Updated windows

Tags

• REMODELED 3/4 BATH
• COVERED DECK
• FULLY FENCED YARD
• STORAGE BUILDING
• DURABLE SIDING
• UPDATED WINDOWS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $94k.

Deal economics

• At list price, monthly cash flow is $147 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $94k).
• Recommended offer: $91k (3.0% below list) — sets the bar for market timing.

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: 14 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

• In year one you build about $9k of equity ($650 loan paydown + $9k appreciation (9.4% local appreciation)).
• At projected returns (9.4% appreciation + 3.0% rent growth), your $26k cash investment doubles in ~3 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 32 days — a 3% lower offer ($91k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $91,180 (3.0% below list)

Questions for the listing agent

1. It's been on market 32 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 1951 — 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. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.14% ✓
• Cap rate: 8.17%
• Cash-on-cash: 6.71%
• DSCR: 1.30
• GRM: 7.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

9.38% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 28.0%
• Equity multiple: 3.15×
• Total profit: $56,644
• Equity at exit: $80,454

10-year hold

• IRR: 24.6%
• Equity multiple: 7.03×
• Total profit: $158,602
• Equity at exit: $169,191

Cash invested: $26,320 (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 79104

• Home prices YoY: 4.5%
• Active inventory: 14
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,069 medium
• Mortgage (P&I): −$493
• Tax from tax record: −$165 /mo · $1,980/yr
• Insurance: −$39
• HOA: −$0
• Vacancy / Maint / Mgmt: −$224
• Net cashflow: $147

Break-even live

Break-even rent $882

Max offer price $94,000

Occupancy floor 81%

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: $23,500
• Closing costs: $2,820
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
901 S Roberts St Amarillo, TX	2.0	1.0	1068	$1,200	$1.12	44d	1	0.92mi
2405 Rule St Amarillo, TX	2.0	1.0	720	$850	$1.18	44d	1	1.43mi

Listing history 3 events

1. 2026-05-11
   status Pending 568-char remark

   Show marketing remark (568 chars)

   Great starter home or investment property! This 2 bedroom 1 bath home has a great living and dining space, a remodeled 3/4 bath, and more! There's extra space off the main living area that would be great for a formal dining or an office! There's a spacious, covered deck out back, fully fenced yard, and storage building out back. This home is equipped with durable siding, updated windows, a metal roof, CH & A, updated electrical service panel, and a Generac generator. This home has amazing potential and is ready for its new owner! Propety to be sold AS-IS.

2. 2026-04-29
   price $94,000 568-char remark

   Show marketing remark (568 chars)

   Great starter home or investment property! This 2 bedroom 1 bath home has a great living and dining space, a remodeled 3/4 bath, and more! There's extra space off the main living area that would be great for a formal dining or an office! There's a spacious, covered deck out back, fully fenced yard, and storage building out back. This home is equipped with durable siding, updated windows, a metal roof, CH & A, updated electrical service panel, and a Generac generator. This home has amazing potential and is ready for its new owner! Propety to be sold AS-IS.

3. 2026-04-09
   listed $99,000 Active 568-char remark

   Show marketing remark (568 chars)

   Great starter home or investment property! This 2 bedroom 1 bath home has a great living and dining space, a remodeled 3/4 bath, and more! There's extra space off the main living area that would be great for a formal dining or an office! There's a spacious, covered deck out back, fully fenced yard, and storage building out back. This home is equipped with durable siding, updated windows, a metal roof, CH & A, updated electrical service panel, and a Generac generator. This home has amazing potential and is ready for its new owner! Propety to be sold AS-IS.

ⓘ 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: $1,980 · $165/mo
• Projected year-2 tax: $1,980 · $165/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 9/10 Extreme
• 🌡 Heat 4/10 Moderate 7 d/yr ≥97°F today · 19 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: $12,826
• − Mortgage interest: −$5,265
• − Property taxes: −$1,980
• − Insurance: −$470
• − Repairs & maintenance: −$1,026
• − Management: −$1,026
• − Depreciation: −$2,735
• Taxable income: $324
• Est. tax owed @ 24.0%: −$78
• After-tax cash flow: $1,689/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
• City population: 185,802
• Population (ZIP): 7,236

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 Hispanic (71%)
• Race & ethnicity: Hispanic / Latino 71% Two or more races 33% White 22% Black 3% Asian 2%
• Hispanic origin (detail): Mexican 67%
• Common ancestry: Lithuanian 2% Iranian 2% Slovak 1%
• Foreign-born: 18% · Canada, Vietnam
• Languages at home: 56% English-only · Spanish 42% Other Indo-European 1% Other Asian/Pacific 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: ▲ 9.38%
• Current HPI: 217.4814
• 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

-5.1% since first listed

3 events — show timeline

• 2026-05-11 Pending — AARMLS
• 2026-04-29 Price Changed $94,000 AARMLS
• 2026-04-09 Listed $99,000 AARMLS

Property tax history

+5.9%/yr

Latest (2025): $1,980 · +45.7% YoY. Source: county tax records.