1221 Charlotte Way · Wharton, TX 77488

$171,990

3 bd · 2.0 ba · 1,266 sqft · SingleFamily · 60 Days on market

Built 2026 Good condition $118/mo HOA · 8% of rent ↓ 21% 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).

• ARV discount +7.5/15.0
• Cash flow +5.1/30.0
• Condition / age +3.8/5.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• 1% rule +1.5/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This single-level home showcases a spacious open floorplan shared between the kitchen, dining area and family room for easy entertaining during gatherings. An owner's suite enjoys a private location in a rear corner of the home, complemented by an en-suite bathroom and walk-in closet. There are two secondary bedrooms along the side of the home, which are ideal for household members and hosting overnight guests.

Key facts

• 2 garage spots
• Built 2026
• Listed 59 days

Property features AI

Finance

• HOA & community: Association: VanMor Properties Inc; Annual association fee

Exterior

• Parking: Attached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Residential property; Under construction (new construction); Slab foundation
• Construction: Built in 2026; Cement siding; Composition roof
• Exterior features: Back yard fencing; Subdivision lot

Interior

• Kitchen: Dishwasher; Electric oven; Electric range; Gas oven; Gas range
• Bedrooms: Primary bedroom on the first floor; Two additional bedrooms on the first floor; One family room on the first floor (can function as living space)
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric and gas); Central air conditioning (electric and gas)
• Interior features: Breakfast bar; Kitchen/family room combo; Kitchen/dining combo; Separate shower; Tub with shower
• Laundry & utility: Washer hookup; Electric dryer hookup; Gas dryer hookup

🏗️ New construction. The $171,990 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $224,347.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $172k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-514 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $150k (12.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $146k (15.0% below list).
• Recommended offer: $146k (15.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 65/100 on livability (#693 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B; Watch: crime C-, amenities F, commute F.
• Wharton ISD (town): math 28% / reading 31% proficiency, ranked #651 of 826 in TX (top 79%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Wharton El (math 22% / reading 25%, grade F, #3,247 of 4,322 statewide, top 76%, 476 students, 77% FRL); Wharton J H (math 32% / reading 32%, grade F, #971 of 1,662 statewide, top 60%, 369 students, 77% FRL); Wharton H S (math 32% / reading 37%, grade F, #963 of 1,632 statewide, top 61%, 570 students, 74% FRL).
• Market conditions: 164 active listings in the ZIP; 191 units permitted in Wharton County in 2024 (45 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 60 days — a 3% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $47k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $146,150 (15.0% 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 60 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-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. 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?
7. 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.
8. 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.
9. 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: 0.65% ✗
• Cap rate: 3.54%
• Cash-on-cash: -9.82%
• DSCR: 0.56
• GRM: 12.8

CMA / ARV

• ARV (median comp): $224,347
• List price: $171,990
• Delta: -23.34%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1226 Charlotte Way	0.04mi	3/2.0	1,266 (0%)	1mo	$169,991	$134	97
1303 Charlotte Way	0.01mi	3/2.0	1,266 (0%)	5mo	$218,990	$173	96
402 Nicholas Rd	0.09mi	3/2.0	1,260 (-0%)	4mo	$227,990	$181	92
1224 Charlotte Way	0.02mi	3/2.0	1,402 (+11%)	1mo	$168,340	$120	80
1225 Charlotte Way	0.01mi	3/2.0	1,402 (+11%)	2mo	$162,940	$116	80
1207 Westgate Dr	0.24mi	3/2.0	1,331 (+5%)	3mo	$199,900	$150	78
319 Brandi Dr	0.07mi	3/2.0	1,411 (+12%)	5mo	$232,990	$165	73
1304 Charlotte Way	0.10mi	3/2.0	1,411 (+12%)	5mo	$229,990	$163	72
1718 Linwood Dr	0.52mi	3/2.0	1,200 (-5%)	1mo	$198,000	$165	67
408 Speed St	0.55mi	3/1.0	1,296 (+2%)	1mo	$170,000	$131	65
1005 Center St	0.58mi	3/2.0	1,096 (-13%)	4mo	$115,000	$105	47
308 Circle Dr	0.62mi	3/1.0	1,420 (+12%)	1mo	$160,000	$113	46

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -33.8%
• Equity multiple: -0.10×
• Total profit: $-68,985
• Equity at exit: $33,451

10-year hold

• IRR: -41.8%
• Equity multiple: -0.62×
• Total profit: $-101,827
• Equity at exit: $19,397

Cash invested: $62,817 (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 77488

• Home prices YoY: -25.3%
• Active inventory: 164
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,462 medium
• Mortgage (P&I): −$1,177
• Tax est. 1.5%: −$280 /mo · $3,365/yr
• Insurance: −$93
• HOA: −$118
• Vacancy / Maint / Mgmt: −$307
• Net cashflow: $-514

Break-even live

Break-even rent $2,112

Max offer price $149,995

Occupancy floor —

Sensitivity live

Price	-10% $-359	-5% $-436	+0% $-514	+5% $-591	+10% $-669
Rent	-10% $-629	-5% $-572	+0% $-514	+5% $-456	+10% $-398
Rate	-1.0pp $-401	-0.5pp $-457	base $-514	+0.5pp $-572	+1.0pp $-631

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: $56,087
• Closing costs: $6,730
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $118 · $1,416/yr

Listing history 27 events

1. 2026-06-19
   days on market $171,990 Active 60 DOM
2. 2026-06-18
   days on market $171,990 Active 59 DOM

   Show marketing remark (414 chars)

   This single-level home showcases a spacious open floorplan shared between the kitchen, dining area and family room for easy entertaining during gatherings. An owner's suite enjoys a private location in a rear corner of the home, complemented by an en-suite bathroom and walk-in closet. There are two secondary bedrooms along the side of the home, which are ideal for household members and hosting overnight guests.

3. 2026-06-18
   price $171,990 Active 58 DOM

   Show marketing remark (414 chars)

   This single-level home showcases a spacious open floorplan shared between the kitchen, dining area and family room for easy entertaining during gatherings. An owner's suite enjoys a private location in a rear corner of the home, complemented by an en-suite bathroom and walk-in closet. There are two secondary bedrooms along the side of the home, which are ideal for household members and hosting overnight guests.

4. 2026-06-17
   days on market $141,990 Active 58 DOM
5. 2026-06-17
   price $141,990 Active 57 DOM
6. 2026-06-16
   days on market $168,990 Active 57 DOM
7. 2026-06-16
   remarks 635-char remark
8. 2026-06-15
   days on market $168,990 Active 56 DOM
9. 2026-06-14
   days on market $168,990 Active 54 DOM
10. 2026-06-12
    days on market $168,990 Active 53 DOM
11. 2026-06-09
    days on market $168,990 Active 50 DOM

    Show marketing remark (414 chars)

    This single-level home showcases a spacious open floorplan shared between the kitchen, dining area and family room for easy entertaining during gatherings. An owner's suite enjoys a private location in a rear corner of the home, complemented by an en-suite bathroom and walk-in closet. There are two secondary bedrooms along the side of the home, which are ideal for household members and hosting overnight guests.

12. 2026-06-09
    price $168,990 Active 49 DOM

    Show marketing remark (414 chars)

    This single-level home showcases a spacious open floorplan shared between the kitchen, dining area and family room for easy entertaining during gatherings. An owner's suite enjoys a private location in a rear corner of the home, complemented by an en-suite bathroom and walk-in closet. There are two secondary bedrooms along the side of the home, which are ideal for household members and hosting overnight guests.

13. 2026-06-08
    days on market $178,990 Active 49 DOM
14. 2026-06-07
    days on market $178,990 Active 48 DOM
15. 2026-06-07
    days on market $178,990 Active 47 DOM
16. 2026-06-02
    days on market $178,990 Active 43 DOM
17. 2026-06-01
    days on market $178,990 Active 42 DOM
18. 2026-05-31
    days on market $178,990 Active 41 DOM
19. 2026-05-30
    days on market $178,990 Active 40 DOM
20. 2026-05-01
    price $189,990 414-char remark

    Show marketing remark (414 chars)

    This single-level home showcases a spacious open floorplan shared between the kitchen, dining area and family room for easy entertaining during gatherings. An owner's suite enjoys a private location in a rear corner of the home, complemented by an en-suite bathroom and walk-in closet. There are two secondary bedrooms along the side of the home, which are ideal for household members and hosting overnight guests.

21. 2026-04-30
    price $189,990 602-char remark
22. 2026-04-28
    price $192,990 414-char remark

    Show marketing remark (414 chars)

    This single-level home showcases a spacious open floorplan shared between the kitchen, dining area and family room for easy entertaining during gatherings. An owner's suite enjoys a private location in a rear corner of the home, complemented by an en-suite bathroom and walk-in closet. There are two secondary bedrooms along the side of the home, which are ideal for household members and hosting overnight guests.

23. 2026-04-27
    price $192,990 602-char remark
24. 2026-04-24
    price $195,990 414-char remark

    Show marketing remark (414 chars)

    This single-level home showcases a spacious open floorplan shared between the kitchen, dining area and family room for easy entertaining during gatherings. An owner's suite enjoys a private location in a rear corner of the home, complemented by an en-suite bathroom and walk-in closet. There are two secondary bedrooms along the side of the home, which are ideal for household members and hosting overnight guests.

25. 2026-04-24
    price $195,990 602-char remark

    Show marketing remark (414 chars)

    This single-level home showcases a spacious open floorplan shared between the kitchen, dining area and family room for easy entertaining during gatherings. An owner's suite enjoys a private location in a rear corner of the home, complemented by an en-suite bathroom and walk-in closet. There are two secondary bedrooms along the side of the home, which are ideal for household members and hosting overnight guests.

26. 2026-04-20
    listed $218,990 Active 602-char remark
27. 2026-04-10
    listed $218,990 Active 414-char remark

    Show marketing remark (414 chars)

    This single-level home showcases a spacious open floorplan shared between the kitchen, dining area and family room for easy entertaining during gatherings. An owner's suite enjoys a private location in a rear corner of the home, complemented by an en-suite bathroom and walk-in closet. There are two secondary bedrooms along the side of the home, which are ideal for household members and hosting overnight guests.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $17,538
• − Mortgage interest: −$12,567
• − Property taxes: −$3,365
• − Insurance: −$1,122
• − Repairs & maintenance: −$1,403
• − Management: −$1,403
• − HOA: −$1,416
• − Depreciation: −$6,526
• Taxable loss: −$10,264
• Est. tax savings @ 24.0%: +$2,463
• After-tax cash flow: $-3,702/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.

Condition & rehab AI · 13 photos

Good 75/100 Cosmetic rehab

This single-family home is in good condition with a good condition score of 75. It has a good foundation, structure, and systems. The exterior siding could benefit from a fresh coat of paint to enhance curb appeal and increase its resale value.

Value-add opportunities

• Resale Paint the exterior siding — Enhances curb appeal and can increase property value
• Both Replace window treatments — Modernizes the space and improves energy efficiency
• Both Update light fixtures — Modernizes the space and improves energy efficiency

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint the exterior siding — Enhances curb appeal and can increase property value ↑
• Both Replace window treatments — Modernizes the space and improves energy efficiency ↑
• Both Update light fixtures — Modernizes the space and improves energy efficiency ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Wharton ISD
• NCES district ID: 4845380
• Math proficiency: 28% ▼ -3.00%
• Reading proficiency: 31% ▬ 0.00%
• Median HH income: $38,558
• Composite: 24.69/100
• National rank: #7617
• State rank: #651 of 826 in TX

Livability — Wharton

• Score: 65/100
• State rank: #693
• US rank: #12966

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 14,129

Population outlook (Wharton County) Hauer SSP2

• Today (2025): 42,448 people
• By 2030: 42,726 · +0.7%
• By 2040: 43,042 · +1.4%
• By 2050: 43,368 · +2.2%
• By 2075: 44,962 · +5.9%
• By 2100: 44,510 · +4.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: Hispanic / Latino 38% White 36% Black 22% Two or more races 15% Asian 1%
• Hispanic origin (detail): Mexican 33% Puerto Rican 1%
• Common ancestry: Scottish 2% Danish 2% Serbian 2%
• Foreign-born: 7% · Canada
• Languages at home: 81% English-only · Spanish 17% Other Indo-European 1%

Political lean MEDSL · Wharton

• 2024 margin: Solid R (+51.8) · D 23.8% · R 75.6%
• 2008→2024 swing: -20.7pp toward R · 2008: -31.2pp · 2024: -51.8pp
• All cycles: 2024: R+51.8 2020: R+43.1 2016: R+40.2 2012: R+39.1 2008: R+31.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -63.29%
• Current HPI: 186.7798
• 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

-21.5% since first listed

15 events — show timeline

• 2026-06-18 Price Changed $171,990 HARMLS
• 2026-06-18 Price Changed $171,990 Zillow
• 2026-06-16 Price Changed $141,990 HARMLS
• 2026-06-09 Price Changed $168,990 Zillow
• 2026-06-08 Price Changed $168,990 HARMLS
• 2026-05-20 Price Changed $178,990 HARMLS
• 2026-05-19 Price Changed $178,990 Zillow
• 2026-05-01 Price Changed $189,990 Zillow
• 2026-04-30 Price Changed $189,990 HARMLS
• 2026-04-28 Price Changed $192,990 Zillow
• 2026-04-27 Price Changed $192,990 HARMLS
• 2026-04-24 Price Changed $195,990 Zillow
• 2026-04-24 Price Changed $195,990 HARMLS
• 2026-04-20 Listed $218,990 HARMLS
• 2026-04-10 Listed $218,990 Zillow