110 E Carolina St · Wichita Falls, TX 76301

$35,000

3 bd · 1.0 ba · 880 sqft · SingleFamily public records · 38 Days on market

Built 1931 $40/sqft · 54% below area

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +3.8/5.0
• Livability +3.5/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

As-Is cash sale. Perfect for Investors, Flippers or anyone that would like to become a home or land owner for less than the price of a used vehicle. Limited Listing. Owner has never occupied the property. Information provided is deemed reliable, but is not guaranteed and should be independently verified.

Key facts

• Newer roof
• Newer windows
• Full renovation

Tags

• NEWER ROOF
• NEWER WINDOWS
• FRAMED FOR 2-BEDROOM LAYOUT
• FULL RENOVATION

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residential home; 1 story; Located in the Original Town subdivision; Zoned for single-family residential
• Construction: Wood siding construction; Composition roof
• Exterior features: Composition roof; Wood siding exterior

Interior

• Interior features: Single-story layout

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $35k.

Deal economics

• At list price, monthly cash flow is $276 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $35k).
• Recommended offer: $34k (3.0% below list) — sets the bar for market timing.
• Cap rate 30.4% 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 (+5.3%/yr); 133 active listings in the ZIP; 2 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 231 units permitted in Wichita County in 2024 (10 in 5+ unit buildings).
• This rent runs 33% of the median local income ($42k/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 $242 of loan paydown is wiped out by about $1k 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 + 5.3% rent growth), your $10k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($34k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1931 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); 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 $33,950 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 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 1931 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 3.32% ✓
• Cap rate: 30.39%
• Cash-on-cash: 86.05%
• DSCR: 4.83
• GRM: 2.5

CMA / ARV

• ARV (median comp): $76,200
• List price: $35,000
• Delta: -54.07%
• Verdict: UNDERPRICED
• Comps: 7 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 5.27% rent growth · sell at horizon

5-year hold

• IRR: 34.0%
• Equity multiple: 2.52×
• Total profit: $14,899
• Equity at exit: $5,219

10-year hold

• IRR: 43.0%
• Equity multiple: 5.94×
• Total profit: $48,375
• Equity at exit: $3,026

Cash invested: $9,800 (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 76301

• Home prices YoY: -34.1%
• Rents YoY: 5.3%
• Active inventory: 133
• Price-to-rent: 2.5×

Monthly cashflow live

• Estimated rent: $1,163 medium
• Mortgage (P&I): −$184
• Tax from tax record: −$18 /mo · $217/yr
• Insurance: −$15
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$244
• Net cashflow: $276

Break-even live

Break-even rent $814

Max offer price $35,000

Occupancy floor 71%

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1001 Redwood Ave Wichita Falls, TX	1.0–3.0	1.0–2.0	928	$993	$1.07	43d	2	1.15mi
1208 Williams Ave Wichita Falls, TX	3.0	2.0	909	$1,199	$1.32	43d	1	1.37mi

Listing history 24 events

1. 2026-06-19
   days on market $35,000 Active 38 DOM
2. 2026-06-18
   days on market $35,000 Active 37 DOM
3. 2026-06-17
   days on market $35,000 Active 36 DOM
4. 2026-06-16
   days on market $35,000 Active 35 DOM
5. 2026-06-15
   days on market $35,000 Active 34 DOM
6. 2026-06-14
   days on market $35,000 Active 32 DOM
7. 2026-06-13
   days on market $35,000 Active 31 DOM
8. 2026-06-10
   days on market $35,000 Active 29 DOM
9. 2026-06-09
   days on market $35,000 Active 28 DOM
10. 2026-06-08
    days on market $35,000 Active 27 DOM
11. 2026-06-07
    days on market $35,000 Active 26 DOM
12. 2026-06-05
    days on market $35,000 Active 23 DOM
13. 2026-06-02
    days on market $35,000 Active 21 DOM
14. 2026-06-01
    days on market $35,000 Active 20 DOM
15. 2026-05-31
    days on market $35,000 Active 19 DOM
16. 2026-05-30
    days on market $35,000 Active 18 DOM
17. 2026-05-12
    listed $35,000 Active 380-char remark
18. 2023-02-08
    soldstatus Closed 306-char remark

    Show marketing remark (306 chars)

    As-Is cash sale. Perfect for Investors, Flippers or anyone that would like to become a home or land owner for less than the price of a used vehicle. Limited Listing. Owner has never occupied the property. Information provided is deemed reliable, but is not guaranteed and should be independently verified.

19. 2023-01-20
    listed $15,000 Active 306-char remark

    Show marketing remark (306 chars)

    As-Is cash sale. Perfect for Investors, Flippers or anyone that would like to become a home or land owner for less than the price of a used vehicle. Limited Listing. Owner has never occupied the property. Information provided is deemed reliable, but is not guaranteed and should be independently verified.

20. 2022-07-30
    status Pending

    Show marketing remark (129 chars)

    Motivated seller needs to sell fixer upper house quickly. Priced to sell... accepting first reasonable offer. Will not last long.

21. 2022-07-30
    soldstatus Closed

    Show marketing remark (129 chars)

    Motivated seller needs to sell fixer upper house quickly. Priced to sell... accepting first reasonable offer. Will not last long.

22. 2022-04-06
    soldstatus
23. 2022-03-15
    price $14,900

    Show marketing remark (129 chars)

    Motivated seller needs to sell fixer upper house quickly. Priced to sell... accepting first reasonable offer. Will not last long.

24. 2022-03-10
    listed $19,900 Active

    Show marketing remark (129 chars)

    Motivated seller needs to sell fixer upper house quickly. Priced to sell... accepting first reasonable offer. Will not last long.

ⓘ 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: $217 · $18/mo
• Projected year-2 tax: $640 · $53/mo
• Expected delta: +$423/yr (+$35/mo · 194.5%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone AE · 64% chance over 30 yrs
• 🔥 Wildfire 8/10 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: $13,959
• − Mortgage interest: −$1,961
• − Property taxes: −$217
• − Insurance: −$5,294
• − Repairs & maintenance: −$1,117
• − Management: −$1,117
• − Depreciation: −$1,018
• Taxable income: $3,236
• Est. tax owed @ 24.0%: −$777
• After-tax cash flow: $2,537/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): 15,479
• Household income: $41,947
• Rent vs Own: 44.7% rent · 55.3% own
• Severe rent burden: 577.0

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 0.67)
• Race & ethnicity: White 40% Hispanic / Latino 38% Black 18% Two or more races 15% Asian 1%
• Hispanic origin (detail): Mexican 36%
• Common ancestry: Slovak 3% Lithuanian 2% Italian 1%
• Foreign-born: 11% · Canada, Vietnam
• Languages at home: 76% English-only · Spanish 22%

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: ▼ -69.89%
• Current HPI: 135.1511
• Rent YoY: ▲ 5.27%
• 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

+75.9% since first listed

8 events — show timeline

• 2026-05-12 Listed $35,000 WFAOR
• 2023-02-08 Sold (MLS) — NTREIS
• 2023-01-20 Listed $15,000 NTREIS
• 2022-07-30 Pending — NTREIS
• 2022-07-30 Sold (MLS) — NTREIS
• 2022-04-06 Sold (Public Records) — Public Records
• 2022-03-15 Price Changed $14,900 NTREIS
• 2022-03-10 Listed $19,900 NTREIS

Property tax history

-0.7%/yr

Latest (2025): $217 · +12.6% YoY. Source: county tax records.