2407 NW 3rd Ave · Amarillo, TX 79106

$70,000

2 bd · 1.0 ba · 720 sqft · SingleFamily public records · 20 Days on market

Built 1927

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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 +27.7/30.0
• DSCR +9.7/10.0
• ARV discount +7.5/15.0
• 1% rule +7.2/10.0
• Rent growth +3.7/5.0
• Schools +3.6/10.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investor Opportunity! This property is part of a 5-door, 4-property investment portfolio, all currently tenant-occupied with strong rental history and solid rent rolls. Properties may be purchased individually or as a package. This 2-bedroom, 1-bath home is currently leased and offers immediate rental income. Recent updates include fresh interior paint, flooring replaced prior to the current tenant's occupancy, and newer mini-split systems. The property is being sold together with the adjacent lot located at 2405 NW 3rd, providing additional value and potential opportunities for the new owner. Good rent rolls with current tenant liking to stay. Schedule your showing today!

Key facts

• Flooring replaced
• Fresh interior paint
• Built 1927

Tags

• IMMEDIATE RENTAL INCOME
• FRESH INTERIOR PAINT
• FLOORING REPLACED
• NEWER MINI SPLIT SYSTEMS

Property features AI

Exterior

• Home design: Single-family residence; Residential property
• Exterior features: Located in NW Amarillo within city limits; Directions: East on Amarillo Blvd, south on Georgia, east on NW 3rd

Interior

• Bathrooms: 1 full bathroom
• Interior features: One full bathroom

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $210 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($851 rent vs $70k).
• Recommended offer: $69k (1.5% 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: Rents rising fast (+4.7%/yr); 132 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,214 units permitted in Potter County in 2024 (650 in 5+ unit buildings).
• This rent is only 17% of the median local income ($59k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $484 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.7% rent growth), your $20k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($69k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1927 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $68,950 (1.5% below list)

Questions for the listing agent

1. Built in 1927 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.22% ✓
• Cap rate: 9.90%
• Cash-on-cash: 12.87%
• DSCR: 1.57
• GRM: 6.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 4.6%
• Equity multiple: 1.18×
• Total profit: $3,518
• Equity at exit: $10,437

10-year hold

• IRR: 15.5%
• Equity multiple: 2.35×
• Total profit: $26,551
• Equity at exit: $6,052

Cash invested: $19,600 (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 79106

• Rents YoY: 4.7%
• Active inventory: 132
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $851 high
• Mortgage (P&I): −$367
• Tax from tax record: −$66 /mo · $787/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$179
• Net cashflow: $210

Break-even live

Break-even rent $585

Max offer price $70,000

Occupancy floor 70%

Sensitivity live

Price	-10% $250	-5% $230	+0% $210	+5% $190	+10% $171
Rent	-10% $143	-5% $177	+0% $210	+5% $244	+10% $277
Rate	-1.0pp $245	-0.5pp $228	base $210	+0.5pp $192	+1.0pp $174

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
206 N Mississippi St Unit A Amarillo, TX	1.0	1.0	420	$795	$1.89	45d	1	0.57mi
2306 SW 8th Ave Unit 2 Amarillo, TX	2.0	1.0	700	$950	$1.36	45d	1	0.66mi
2306 SW 8th Ave Amarillo, TX	2.0	1.0	553	$950	$1.72	22d	1	0.66mi
211 S Carolina St Unit A Amarillo, TX	1.0	1.0	600	$993	$1.66	45d	1	0.70mi
3010 Line Ave Amarillo, TX	1.0	1.0	520	$650	$1.25	22d	1	0.89mi
2713 SW 9th Ave Apt 4 Amarillo, TX	1.0	1.0	450	$725	$1.61	45d	1	0.91mi
302 N Forest St Amarillo, TX	1.0	1.0	420	$600	$1.43	45d	1	1.04mi
1212 SW 9th Ave Unit A Amarillo, TX	1.0	1.0	550	$770	$1.40	22d	1	1.07mi
1506 SW 11th Ave Unit A Amarillo, TX	1.0	1.0	608	$650	$1.07	45d	1	1.12mi
703 S Independence St Amarillo, TX	1.0	1.0	525	$710	$1.35	12d	2	1.26mi
106 S Palo Duro St Unit B Amarillo, TX	1.0	1.0	630	$695	$1.10	14d	1	1.28mi
3118 SW 15th Ave Amarillo, TX	2.0–3.0	1.0–2.0	1015	$640	$0.63	14d	17	1.38mi
905 S Madison St Amarillo, TX	1.0	1.0	442	$1,000	$2.26	45d	1	1.40mi
2700 W 16th Ave Amarillo, TX	1.0	1.0	693	$830	$1.20	14d	1	1.45mi

Listing history 14 events

1. 2026-06-21
   days on market $70,000 Active 20 DOM
2. 2026-06-18
   days on market $70,000 Active 17 DOM
3. 2026-06-17
   days on market $70,000 Active 16 DOM
4. 2026-06-16
   days on market $70,000 Active 15 DOM
5. 2026-06-15
   days on market $70,000 Active 14 DOM
6. 2026-06-14
   days on market $70,000 Active 12 DOM
7. 2026-06-13
   days on market $70,000 Active 11 DOM
8. 2026-06-10
   days on market $70,000 Active 9 DOM
9. 2026-06-09
   days on market $70,000 Active 8 DOM
10. 2026-06-08
    days on market $70,000 Active 7 DOM
11. 2026-06-07
    days on market $70,000 Active 6 DOM
12. 2026-06-03
    days on market $70,000 Active 2 DOM
13. 2026-06-02
    remarks 681-char remark
14. 2026-06-02
    listed $70,000 Active 1 DOM

ⓘ 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: $787 · $66/mo
• Projected year-2 tax: $1,281 · $107/mo
• Expected delta: +$494/yr (+$41/mo · 62.8%)

ⓘ 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 5/10 Major 7 d/yr ≥97°F today · 20 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: $10,209
• − Mortgage interest: −$3,921
• − Property taxes: −$787
• − Insurance: −$350
• − Repairs & maintenance: −$817
• − Management: −$817
• − Depreciation: −$2,036
• Taxable income: $1,481
• Est. tax owed @ 24.0%: −$355
• After-tax cash flow: $2,167/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

5 events — show timeline

• 2026-06-01 Listed $70,000 AARMLS
• 2025-03-30 Rental Removed $850 APPFOLIO
• 2025-03-13 Listed for Rent $850 APPFOLIO
• 2021-04-20 Sold (Public Records) — Public Records
• 2011-01-31 Sold (Public Records) — Public Records

Property tax history

+3.6%/yr

Latest (2025): $787 · +6.2% YoY. Source: county tax records.