4669 Rainbow Dr · Wichita Falls, TX 76310

$178,900

3 bd · 2.0 ba · 1,413 sqft · SingleFamily public records · 18 Days on market

Built 1980 $127/sqft · at area comps Est $174k · at est.

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Why this score? — see what drove the D- 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 +12.5/30.0
• ARV discount +6.1/15.0
• Rent growth +4.5/5.0
• 1% rule +4.3/10.0
• DSCR +3.7/10.0
• Livability +3.5/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Cute three bedroom 1.5 bath in fantastic school district! Close to Rider Middle School and newly renovated McNiel Elementary! This home features granite countertops in kitchen and one year old dishwasher. . New vinyl flooring in living areas. Fresh interior paint throughout. Large bonus room could be used for den or game room. Total electric. Bathrooms have been updated. Out back there is a deck, storage building and and playhouse. NEW CARPET COMING TO ALL 3 BEDROOMS!! NEW UPGRADED ROOF COMING IN JUNE!!

Key facts

• Large bonus room
• Storage building
• Updated bathrooms

Tags

• GRANITE COUNTERTOPS
• NEW LAMINATE FLOORING
• LARGE BONUS ROOM
• UPDATED BATHROOMS
• DECK
• STORAGE BUILDING

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $179k.

Deal economics

• At list price, monthly cash flow is $-28 ($-333/yr) — negative.
• To cash-flow at today's rent, offer at most $174k (2.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $167k (6.9% below list).
• Recommended offer: $167k (6.9% below list) — sets the bar for 1% rule.
• Cap rate 6.1% 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; 4 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 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 $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.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($176k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $166,543 (6.9% 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. 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 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?
5. 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?
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: 0.93% ✗
• Cap rate: 6.11%
• Cash-on-cash: -0.67%
• DSCR: 0.97
• GRM: 9.0

CMA / ARV

• ARV (median comp): $173,626
• List price: $178,900
• Delta: 3.04%
• Verdict: FAIR
• Comps: 19 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4616 Cascades Dr	0.48mi	3/2.0	1,482 (+5%)	20mo	$179,900	$121	53
5113 Jamaica Dr	0.42mi	4/2.0 (+1)	1,590 (+12%)	9mo	$169,900	$107	47
5100 Tower Dr	0.43mi	4/2.0 (+1)	1,571 (+11%)	15mo	$139,999	$89	44
4665 Sierra Madre	0.49mi	3/2.0	1,231 (-13%)	15mo	$189,900	$154	43
5140 Kingston Dr	0.57mi	3/1.0	1,248 (-12%)	11mo	$144,900	$116	40

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: -11.6%
• Equity multiple: 0.56×
• Total profit: $-22,179
• Equity at exit: $26,675

10-year hold

• IRR: 3.9%
• Equity multiple: 1.34×
• Total profit: $17,274
• Equity at exit: $15,468

Cash invested: $50,092 (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: 9.0×

Monthly cashflow live

• Estimated rent: $1,665 medium
• Mortgage (P&I): −$938
• Tax from tax record: −$331 /mo · $3,969/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$350
• Net cashflow: $-28

Break-even live

Break-even rent $1,701

Max offer price $173,996

Occupancy floor 97%

Sensitivity live

Price	-10% $74	-5% $23	+0% $-28	+5% $-78	+10% $-129
Rent	-10% $-159	-5% $-94	+0% $-28	+5% $38	+10% $104
Rate	-1.0pp $62	-0.5pp $18	base $-28	+0.5pp $-74	+1.0pp $-121

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: $44,725
• Closing costs: $5,367
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4111 McGaha Ave Wichita Falls, TX	3.0	2.0	1025	$1,125	$1.10	45d	1	0.79mi
5313 Langford Ln Wichita Falls, TX	3.0	2.0	1092	$1,650	$1.51	45d	1	1.00mi
5114 Fairway Blvd Wichita Falls, TX	4.0	2.0	1406	$1,600	$1.14	45d	1	1.14mi
4220 Idlewood Dr Wichita Falls, TX	4.0	1.0	1516	$1,300	$0.86	45d	1	1.19mi

Listing history 8 events

1. 2026-06-02
   days on market $178,900 Active 18 DOM
2. 2026-06-01
   days on market $178,900 Active 17 DOM
3. 2026-05-31
   days on market $178,900 Active 16 DOM
4. 2026-05-30
   days on market $178,900 Active 15 DOM
5. 2026-05-15
   listed $178,900 Active 501-char remark
6. 2017-08-21
   soldstatus
7. 2017-08-17
   soldstatus
8. 2017-03-05
   listed $93,000

ⓘ 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: $3,969 · $331/mo
• Projected year-2 tax: $3,969 · $331/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 7/10 Severe
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 21 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: $19,985
• − Mortgage interest: −$10,021
• − Property taxes: −$3,969
• − Insurance: −$894
• − Repairs & maintenance: −$1,599
• − Management: −$1,599
• − Depreciation: −$5,204
• Taxable loss: −$3,301
• Est. tax savings @ 24.0%: +$792
• After-tax cash flow: $459/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

3 events — show timeline

• 2017-08-21 Sold (Public Records) — Public Records
• 2017-08-17 Sold (MLS) — WFAOR
• 2017-03-05 Listed $93,000 WFAOR

Property tax history

+9.0%/yr

Latest (2025): $3,969 · -2.7% YoY. Source: county tax records.