4623 Karla St · Wichita Falls, TX 76310

$168,000

4 bd · 0.5 ba · 1,514 sqft · SingleFamily · 45 Days on market

Built 1962 $111/sqft · 10% below area Est $186k · 10% under

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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 +29.0/30.0
• ARV discount +12.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.8/10.0
• Rent growth +4.5/5.0
• Livability +3.5/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This newly renovated home is a gem! 4 bed 1.5 bath w/ over approx 1800sqft of living space, according to the owner. This property has it all from easy to clean flooring throughout, a gas range for the cooks delight, and a soft neutral color pallet. Situated on a spacious lot with privacy fenced back yard, near Lake Wichita Park & Dog park, shopping & dining.

Key facts

• Large backyard
• Storage shed
• Updated kitchen

Tags

• WELCOMING PORCH
• UPDATED KITCHEN
• FUNCTIONAL BATHS
• SPACIOUS LAUNDRY AREA
• LARGE BACKYARD
• STORAGE SHED

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; Single story; North-facing
• Construction: Brick construction; Composition roof; Slab foundation; Built for residential use
• Exterior features: Fenced yard; Outbuilding

Interior

• Kitchen: Dishwasher; Disposal; Microwave
• Bathrooms: One half bathroom
• Heating & cooling: Central heating (Natural Gas); Central air conditioning
• Interior features: Dishwasher; Disposal; Microwave; Central heating; Natural gas heating; Central air conditioning

What this means for you Summary

Snapshot

• This is a 4-bed/0.5-bath single-family listed at $168k.

Deal economics

• At list price, monthly cash flow is $577 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $168k).
• Recommended offer: $163k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.4% vs local median 4.7% in Wichita Falls — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 69/100 on livability (#437 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, employment D+, schools D.
• Wichita Falls ISD (urban): math 31% / reading 33% proficiency, ranked #585 of 826 in TX (top 71%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+7.8%/yr); 151 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 231 units permitted in Wichita County in 2024 (10 in 5+ unit buildings).
• This rent runs 31% of the median local income ($82k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Wichita County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 7.8% rent growth), your $47k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y 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.

Recommended offer $162,960 (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 1962 — 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 D 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: 1.28% ✓
• Cap rate: 10.42%
• Cash-on-cash: 14.73%
• DSCR: 1.66
• GRM: 6.5

CMA / ARV

• ARV (median comp): $186,443
• List price: $168,000
• Delta: -9.89%
• Verdict: FAIR
• Comps: 19 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5100 Tower Dr	0.45mi	4/2.0	1,571 (+4%)	15mo	$139,999	$89	54
5113 Jamaica Dr	0.59mi	4/2.0	1,590 (+5%)	9mo	$169,900	$107	51
5307 Long Leaf Dr	0.71mi	3/2.0 (-1)	1,337 (-12%)	20mo	$246,500	$184	20
7 Tumbleweed	0.74mi	3/2.0 (-1)	1,701 (+12%)	23mo	$230,000	$135	15

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 · 7.83% rent growth · sell at horizon

5-year hold

• IRR: 10.5%
• Equity multiple: 1.44×
• Total profit: $20,507
• Equity at exit: $25,049

10-year hold

• IRR: 23.1%
• Equity multiple: 3.44×
• Total profit: $114,899
• Equity at exit: $14,526

Cash invested: $47,040 (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 76310

• Home prices YoY: -25.9%
• Rents YoY: 7.8%
• Active inventory: 151
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $2,149 medium
• Mortgage (P&I): −$881
• Tax from tax record: −$169 /mo · $2,028/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$451
• Net cashflow: $577

Break-even live

Break-even rent $1,418

Max offer price $168,000

Occupancy floor 68%

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: $42,000
• Closing costs: $5,040
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5114 Fairway Blvd Wichita Falls, TX	4.0	2.0	1406	$1,600	$1.14	44d	1	0.41mi
5313 Langford Ln Wichita Falls, TX	3.0	2.0	1092	$1,650	$1.51	44d	1	0.75mi

Listing history 28 events

1. 2026-06-19
   days on market $168,000 Active 45 DOM
2. 2026-06-18
   days on market $168,000 Active 44 DOM
3. 2026-06-17
   days on market $168,000 Active 43 DOM
4. 2026-06-16
   days on market $168,000 Active 42 DOM
5. 2026-06-15
   days on market $168,000 Active 41 DOM
6. 2026-06-14
   days on market $168,000 Active 39 DOM
7. 2026-06-13
   days on market $168,000 Active 38 DOM
8. 2026-06-10
   days on market $168,000 Active 36 DOM
9. 2026-06-09
   days on market $168,000 Active 35 DOM
10. 2026-06-08
    days on market $168,000 Active 34 DOM
11. 2026-06-07
    days on market $168,000 Active 33 DOM
12. 2026-06-05
    days on market $168,000 Active 30 DOM
13. 2026-06-02
    days on market $168,000 Active 28 DOM
14. 2026-06-01
    days on market $168,000 Active 27 DOM
15. 2026-05-31
    days on market $168,000 Active 26 DOM
16. 2026-05-30
    days on market $168,000 Active 25 DOM
17. 2026-05-05
    listed $168,000 Active 477-char remark
18. 2026-02-25
    price $168,000
19. 2026-01-05
    price $171,500
20. 2024-02-29
    soldstatus Closed

    Show marketing remark (372 chars)

    This newly renovated home is a gem! 4 bed 1.5 bath w/ over approx 1800sqft of living space, according to the owner. This property has it all from easy to clean flooring throughout, a gas range for the cooks delight, and a soft neutral color pallet. Situated on a spacious lot with privacy fenced back yard, near Lake Wichita Park & Dog park, shopping & dining.

21. 2024-02-29
    soldstatus

    Show marketing remark (372 chars)

    This newly renovated home is a gem! 4 bed 1.5 bath w/ over approx 1800sqft of living space, according to the owner. This property has it all from easy to clean flooring throughout, a gas range for the cooks delight, and a soft neutral color pallet. Situated on a spacious lot with privacy fenced back yard, near Lake Wichita Park & Dog park, shopping & dining.

22. 2024-02-12
    historical

    Show marketing remark (372 chars)

    This newly renovated home is a gem! 4 bed 1.5 bath w/ over approx 1800sqft of living space, according to the owner. This property has it all from easy to clean flooring throughout, a gas range for the cooks delight, and a soft neutral color pallet. Situated on a spacious lot with privacy fenced back yard, near Lake Wichita Park & Dog park, shopping & dining.

23. 2024-01-23
    historical $1,575
24. 2023-12-01
    price $159,900

    Show marketing remark (372 chars)

    This newly renovated home is a gem! 4 bed 1.5 bath w/ over approx 1800sqft of living space, according to the owner. This property has it all from easy to clean flooring throughout, a gas range for the cooks delight, and a soft neutral color pallet. Situated on a spacious lot with privacy fenced back yard, near Lake Wichita Park & Dog park, shopping & dining.

25. 2023-11-15
    price $164,900

    Show marketing remark (372 chars)

    This newly renovated home is a gem! 4 bed 1.5 bath w/ over approx 1800sqft of living space, according to the owner. This property has it all from easy to clean flooring throughout, a gas range for the cooks delight, and a soft neutral color pallet. Situated on a spacious lot with privacy fenced back yard, near Lake Wichita Park & Dog park, shopping & dining.

26. 2023-10-26
    price $169,000

    Show marketing remark (372 chars)

    This newly renovated home is a gem! 4 bed 1.5 bath w/ over approx 1800sqft of living space, according to the owner. This property has it all from easy to clean flooring throughout, a gas range for the cooks delight, and a soft neutral color pallet. Situated on a spacious lot with privacy fenced back yard, near Lake Wichita Park & Dog park, shopping & dining.

27. 2023-10-12
    listed $175,000 Active

    Show marketing remark (372 chars)

    This newly renovated home is a gem! 4 bed 1.5 bath w/ over approx 1800sqft of living space, according to the owner. This property has it all from easy to clean flooring throughout, a gas range for the cooks delight, and a soft neutral color pallet. Situated on a spacious lot with privacy fenced back yard, near Lake Wichita Park & Dog park, shopping & dining.

28. 2023-09-22
    listed $1,575

ⓘ 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: $2,028 · $169/mo
• Projected year-2 tax: $3,074 · $256/mo
• Expected delta: +$1,046/yr (+$87/mo · 51.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $25,783
• − Mortgage interest: −$9,411
• − Property taxes: −$2,028
• − Insurance: −$840
• − Repairs & maintenance: −$2,063
• − Management: −$2,063
• − Depreciation: −$4,887
• Taxable income: $4,492
• Est. tax owed @ 24.0%: −$1,078
• After-tax cash flow: $5,850/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: Wichita Falls ISD
• NCES district ID: 4845780
• Math proficiency: 31% ▼ -10.00%
• Reading proficiency: 33% ▼ -7.00%
• Median HH income: $41,604
• Composite: 27.06/100
• National rank: #7051
• State rank: #585 of 826 in TX

Livability — Wichita Falls

• Score: 69/100
• State rank: #437
• US rank: #8940

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wichita Falls, TX
• County: Wichita County · 95,694 people
• City population: 95,694
• Metro: Wichita Falls, TX
• Population (ZIP): 19,029
• Household income: $82,183
• Rent vs Own: 27.6% rent · 72.4% own
• Severe rent burden: 263.0

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 13% Two or more races 10% Black 6% Asian 5%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Italian 3% Lithuanian 2% Iranian 2%
• Foreign-born: 6% · Canada, Vietnam, South Korea
• Languages at home: 89% English-only · Spanish 6% Other Indo-European 1% Vietnamese 1%

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: ▼ -61.37%
• Current HPI: 176.0321
• Rent YoY: ▲ 7.83%
• Metro: Wichita Falls, 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

+10566.7% since first listed

12 events — show timeline

• 2026-05-05 Listed $168,000 WFAOR
• 2026-02-25 Price Changed $168,000 WFAOR
• 2026-01-05 Price Changed $171,500 WFAOR
• 2024-02-29 Sold (Public Records) — Public Records
• 2024-02-29 Sold (MLS) — WFAOR
• 2024-02-12 Delisted — WFAOR
• 2024-01-23 Rental Removed $1,575 NTREIS
• 2023-12-01 Price Changed $159,900 WFAOR
• 2023-11-15 Price Changed $164,900 WFAOR
• 2023-10-26 Price Changed $169,000 WFAOR
• 2023-10-12 Listed $175,000 WFAOR
• 2023-09-22 Listed for Rent $1,575 NTREIS

Property tax history

+1.1%/yr

Latest (2025): $2,028 · +3.3% YoY. Source: county tax records.