701 N Lamar St · Wichita Falls, TX 76306

$55,000

2 bd · 1.0 ba · 480 sqft · SingleFamily public records · 178 Days on market

Built 1939 7,492 sqft lot $115/sqft · 45% above area Est $38k · 45% over ↓ 8% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.5/5.0
• Rent growth +3.2/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great investment opportunity in the heart of Wichita Falls! This property sits on a corner lot and features a 2-Bedroom, 1-Bath home along with a spacious metal storage building that can be conveniently accessed from Carolina Street. Offering plenty of potential, the home is being sold as-is and comes with no HOA, giving buyers flexibility for future use. In addition, the Owners are also selling 1511 N 7th Street (MLS #21045502). This presents the opportunity to potentially purchase 2 properties together, making it a perfect chance to start a new investment portfolio or strengthen an existing one. Centrally located, these properties offer convenient access to city amenities, parks, and major highways. At modest price points, they present an excellent opportunity for smaller investors as well. Whether you’re looking to flip, hold as rentals, redevelop, or create a family home with character and ample outdoor space, this is an opportunity you won’t want to miss.

Key facts

• Ample outdoor space
• Convenient access
• No hoa

Tags

• CORNER LOT
• METAL STORAGE BUILDING
• NO HOA
• CONVENIENT ACCESS
• AMPLE OUTDOOR SPACE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $368 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($895 rent vs $55k).
• Recommended offer: $48k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.3% 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 (+2.8%/yr); 114 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

• Local home prices are declining (-3.0%/yr); year-one equity from $380 of loan paydown is wiped out by about $2k 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 + 2.8% rent growth), your $15k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 178 days — a 12% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $5k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1939 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; major 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 $48,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 178 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1939 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 1.63% ✓
• Cap rate: 14.31%
• Cash-on-cash: 28.64%
• DSCR: 2.27
• GRM: 5.1

CMA / ARV

• ARV (median comp): $37,819
• List price: $55,000
• Delta: 45.43%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.81% rent growth · sell at horizon

5-year hold

• IRR: 22.7%
• Equity multiple: 1.93×
• Total profit: $14,313
• Equity at exit: $8,201

10-year hold

• IRR: 30.6%
• Equity multiple: 3.72×
• Total profit: $41,861
• Equity at exit: $4,755

Cash invested: $15,400 (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 76306

• Home prices YoY: -30.1%
• Rents YoY: 2.8%
• Active inventory: 114
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $895 medium
• Mortgage (P&I): −$288
• Tax from tax record: −$28 /mo · $339/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$188
• Net cashflow: $368

Break-even live

Break-even rent $430

Max offer price $55,000

Occupancy floor 54%

Sensitivity live

Price	-10% $399	-5% $383	+0% $368	+5% $352	+10% $336
Rent	-10% $297	-5% $332	+0% $368	+5% $403	+10% $438
Rate	-1.0pp $395	-0.5pp $382	base $368	+0.5pp $353	+1.0pp $339

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
726 Scott Ave Wichita Falls, TX	1.0	1.0	262	$650	$2.48	45d	1	0.93mi

Listing history 19 events

1. 2026-06-16
   status $55,000 Pending 178 DOM
2. 2026-06-15
   days on market $55,000 Active 178 DOM
3. 2026-06-14
   days on market $55,000 Active 176 DOM
4. 2026-06-13
   days on market $55,000 Active 175 DOM
5. 2026-06-10
   days on market $55,000 Active 173 DOM
6. 2026-06-09
   days on market $55,000 Active 172 DOM
7. 2026-06-08
   days on market $55,000 Active 171 DOM
8. 2026-06-07
   days on market $55,000 Active 170 DOM
9. 2026-06-05
   days on market $55,000 Active 167 DOM
10. 2026-06-02
    days on market $55,000 Active 165 DOM
11. 2026-06-01
    days on market $55,000 Active 164 DOM
12. 2026-05-31
    days on market $55,000 Active 163 DOM
13. 2026-05-30
    days on market $55,000 Active 162 DOM
14. 2026-03-23
    price $55,000 987-char remark

    Show marketing remark (987 chars)

    Great investment opportunity in the heart of Wichita Falls! This property sits on a corner lot and features a 2-Bedroom, 1-Bath home along with a spacious metal storage building that can be conveniently accessed from Carolina Street. Offering plenty of potential, the home is being sold as-is and comes with no HOA, giving buyers flexibility for future use. In addition, the Owners are also selling 1511 N 7th Street (MLS #21045502). This presents the opportunity to potentially purchase 2 properties together, making it a perfect chance to start a new investment portfolio or strengthen an existing one. Centrally located, these properties offer convenient access to city amenities, parks, and major highways. At modest price points, they present an excellent opportunity for smaller investors as well. Whether you’re looking to flip, hold as rentals, redevelop, or create a family home with character and ample outdoor space, this is an opportunity you won’t want to miss.

15. 2025-12-19
    listed $60,000 Active 987-char remark

    Show marketing remark (987 chars)

    Great investment opportunity in the heart of Wichita Falls! This property sits on a corner lot and features a 2-Bedroom, 1-Bath home along with a spacious metal storage building that can be conveniently accessed from Carolina Street. Offering plenty of potential, the home is being sold as-is and comes with no HOA, giving buyers flexibility for future use. In addition, the Owners are also selling 1511 N 7th Street (MLS #21045502). This presents the opportunity to potentially purchase 2 properties together, making it a perfect chance to start a new investment portfolio or strengthen an existing one. Centrally located, these properties offer convenient access to city amenities, parks, and major highways. At modest price points, they present an excellent opportunity for smaller investors as well. Whether you’re looking to flip, hold as rentals, redevelop, or create a family home with character and ample outdoor space, this is an opportunity you won’t want to miss.

16. 2025-11-08
    historical
17. 2025-09-06
    listed $60,000 Active
18. 2023-10-02
    soldstatus
19. 2023-05-23
    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: $339 · $28/mo
• Projected year-2 tax: $1,006 · $84/mo
• Expected delta: +$667/yr (+$56/mo · 196.6%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 65% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 8% 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: $10,742
• − Mortgage interest: −$3,081
• − Property taxes: −$339
• − Insurance: −$275
• − Repairs & maintenance: −$859
• − Management: −$859
• − Depreciation: −$1,600
• Taxable income: $3,728
• Est. tax owed @ 24.0%: −$895
• After-tax cash flow: $3,516/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): 13,963
• Household income: $46,957
• Rent vs Own: 41.4% rent · 58.6% own
• Severe rent burden: 235.0

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: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 58% Hispanic / Latino 21% Black 16% Two or more races 9% Asian 2%
• Hispanic origin (detail): Mexican 18% Cuban 1%
• Common ancestry: Italian 2% Serbian 1% Slovak 1%
• Foreign-born: 6% · Canada
• Languages at home: 88% English-only · Spanish 8% Tagalog/Filipino 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: ▼ -71.29%
• Current HPI: 165.6314
• Rent YoY: ▲ 2.81%
• 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

-8.3% since first listed

6 events — show timeline

• 2026-03-23 Price Changed $55,000 NTREIS
• 2025-12-19 Listed $60,000 NTREIS
• 2025-11-08 Listing Removed — NTREIS
• 2025-09-06 Listed $60,000 NTREIS
• 2023-10-02 Sold (Public Records) — Public Records
• 2023-05-23 Sold (Public Records) — Public Records

Property tax history

+1.2%/yr

Latest (2025): $339 · -0.7% YoY. Source: county tax records.