510 N Pacific Ave · Iowa Park, TX 76367

$120,000

3 bd · 1.0 ba · 1,162 sqft · SingleFamily public records · 45 Days on market

Built 1938 7,100 sqft lot $103/sqft · 17% above area Est $103k · 17% over ↓ 8% since listing

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Why this score? — see what drove the B- 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 +29.1/30.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +7.5/10.0
• Schools +4.6/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.1/15.0

Listing remarks MLS

Welcome to your slice of country charm in Iowa Park! This beautifully fully updated home blends modern upgrades with peaceful living just outside the hustle of the city. The kitchen shines with all-new appliances, modern touch—perfect for everyday living or entertaining guests. If you’ve been searching for a turnkey property with modern upgrades and room to breathe, this Iowa Park gem is ready to welcome you home.

Key facts

• 7,100 sq ft lot
• Built 1938
• Listed 44 days

Property features AI

Finance

• HOA & community: No homeowners association

Exterior

• Parking: Direct access parking; No garage or covered/carport spaces
• Utilities: City water service; City sewer service; Gravel/rock utility access
• Home design: Single-family residence; Residential property; Built in 1938; One story
• Construction: Original construction from 1938
• Exterior features: Gravel yard/drive surfaces; City water; City sewer

Interior

• Kitchen: Dishwasher; Electric cooktop; Electric oven; Electric range; Refrigerator; Electric water heater
• Bedrooms: 3 bedrooms (primary bedroom on main level)
• Bathrooms: 1 full bathroom
• Interior features: Cable TV available; One-level floorplan
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $415 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $116k (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: Kidwell El (467 students, 48% 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 $13k of equity ($830 loan paydown + $12k 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 $34k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$32k 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 ($116k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1938 — 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 $116,400 (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 1938 — 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: 1.25% ✓
• Cap rate: 10.44%
• Cash-on-cash: 14.83%
• DSCR: 1.66
• GRM: 6.7

CMA / ARV

• ARV (median comp): $102,990
• List price: $120,000
• Delta: 16.52%
• Verdict: OVERPRICED
• Comps: 3 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	0.56mi	2/1.5 (-1)	1,320 (+14%)	3mo	$50,000	$38	42

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: 35.2%
• Equity multiple: 3.73×
• Total profit: $91,781
• Equity at exit: $108,106

10-year hold

• IRR: 30.3%
• Equity multiple: 8.42×
• Total profit: $249,461
• Equity at exit: $233,134

Cash invested: $33,600 (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: 6.7×

Monthly cashflow live

• Estimated rent: $1,500 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$91 /mo · $1,087/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$315
• Net cashflow: $415

Break-even live

Break-even rent $975

Max offer price $120,000

Occupancy floor 67%

Sensitivity live

Price	-10% $483	-5% $449	+0% $415	+5% $381	+10% $347
Rent	-10% $297	-5% $356	+0% $415	+5% $474	+10% $534
Rate	-1.0pp $476	-0.5pp $446	base $415	+0.5pp $384	+1.0pp $352

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: $30,000
• Closing costs: $3,600
• 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	0.49mi

Listing history 20 events

1. 2026-06-19
   days on market $120,000 Active 45 DOM
2. 2026-06-18
   days on market $120,000 Active 44 DOM
3. 2026-06-17
   days on market $120,000 Active 43 DOM
4. 2026-06-16
   days on market $120,000 Active 42 DOM
5. 2026-06-15
   days on market $120,000 Active 41 DOM
6. 2026-06-14
   days on market $120,000 Active 39 DOM
7. 2026-06-13
   days on market $120,000 Active 38 DOM
8. 2026-06-10
   days on market $120,000 Active 36 DOM
9. 2026-06-09
   days on market $120,000 Active 35 DOM
10. 2026-06-08
    days on market $120,000 Active 34 DOM
11. 2026-06-07
    days on market $120,000 Active 33 DOM
12. 2026-06-03
    days on market $120,000 Active 29 DOM
13. 2026-06-02
    days on market $120,000 Active 28 DOM
14. 2026-06-01
    days on market $120,000 Active 27 DOM
15. 2026-05-31
    days on market $120,000 Active 26 DOM
16. 2026-05-30
    days on market $120,000 Active 25 DOM
17. 2026-05-05
    listed $130,000 Active 429-char remark

    Show marketing remark (429 chars)

    Welcome to your slice of country charm in Iowa Park! This beautifully fully updated home blends modern upgrades with peaceful living just outside the hustle of the city. The kitchen shines with all-new appliances, modern touch—perfect for everyday living or entertaining guests. If you’ve been searching for a turnkey property with modern upgrades and room to breathe, this Iowa Park gem is ready to welcome you home.

18. 2026-05-05
    listed $130,000 Active

    Show marketing remark (429 chars)

    Welcome to your slice of country charm in Iowa Park! This beautifully fully updated home blends modern upgrades with peaceful living just outside the hustle of the city. The kitchen shines with all-new appliances, modern touch—perfect for everyday living or entertaining guests. If you’ve been searching for a turnkey property with modern upgrades and room to breathe, this Iowa Park gem is ready to welcome you home.

19. 2016-12-13
    soldstatus
20. 2015-09-15
    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: $1,087 · $91/mo
• Projected year-2 tax: $2,196 · $183/mo
• Expected delta: +$1,109/yr (+$92/mo · 102.0%)

ⓘ 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: −$6,722
• − Property taxes: −$1,087
• − Insurance: −$600
• − Repairs & maintenance: −$1,440
• − Management: −$1,440
• − Depreciation: −$3,491
• Taxable income: $3,220
• Est. tax owed @ 24.0%: −$773
• After-tax cash flow: $4,209/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

-7.7% since first listed

6 events — show timeline

• 2026-05-21 Price Changed $120,000 NTREIS
• 2026-05-21 Price Changed $120,000 WFAOR
• 2026-05-05 Listed $130,000 WFAOR
• 2026-05-05 Listed $130,000 NTREIS
• 2016-12-13 Sold (Public Records) — Public Records
• 2015-09-15 Sold (Public Records) — Public Records

Property tax history

+0.3%/yr

Latest (2025): $1,087 · +6.3% YoY. Source: county tax records.