1635 Elizabeth Ave · Wichita Falls, TX 76301

$99,990

3 bd · 1.0 ba · 1,251 sqft · SingleFamily public records · 30 Days on market

Built 1919 Est $140k · 29% under

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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 +20.9/30.0
• ARV discount +15.0/15.0
• DSCR +6.6/10.0
• 1% rule +5.9/10.0
• 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

3 bedrooms, 1 bath home in the Southland addition. This home has had new flooring installed and fresh paint throughout. The kitchen features a cute breakfast bar and plenty of storage. Separate utility room with washer/dryer connections. Additionally, it features a large backyard.

Key facts

• Covered carport
• Functional layout
• Conveniently located

Tags

• COVERED CARPORT
• FULLY FENCED BACKYARD
• FUNCTIONAL LAYOUT
• COMFORTABLE LIVING SPACES
• CONVENIENTLY LOCATED

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story
• Exterior features: Covered patio/porch; Fenced yard; Composition roof

Interior

• Kitchen: Refrigerator
• Heating & cooling: Central heating (natural gas); Central air conditioning
• Interior features: Living room fireplace

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $138 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $98k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.0% 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; 12 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 231 units permitted in Wichita County in 2024 (10 in 5+ unit buildings).
• This rent runs 31% 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 $692 of loan paydown is wiped out by about $3k 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 30 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 6y 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: built in 1919 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $98,490 (1.5% below list)

Questions for the listing agent

1. Built in 1919 — 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 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. 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: 1.09% ✓
• Cap rate: 7.95%
• Cash-on-cash: 5.93%
• DSCR: 1.26
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $140,112
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1512 14th St	0.21mi	3/2.0	1,232 (-2%)	16mo	$138,000	$112	70
1642 Pearl Ave	0.20mi	2/1.0 (-1)	1,148 (-8%)	4mo	$59,000	$51	69

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 · 5.27% rent growth · sell at horizon

5-year hold

• IRR: -4.5%
• Equity multiple: 0.83×
• Total profit: $-4,810
• Equity at exit: $14,909

10-year hold

• IRR: 7.8%
• Equity multiple: 1.65×
• Total profit: $18,260
• Equity at exit: $8,645

Cash invested: $27,997 (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: 7.6×

Monthly cashflow live

• Estimated rent: $1,092 high
• Mortgage (P&I): −$524
• Tax from tax record: −$158 /mo · $1,896/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$229
• Net cashflow: $138

Break-even live

Break-even rent $917

Max offer price $99,990

Occupancy floor 82%

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: $24,998
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1821 9th St Unit B Wichita Falls, TX	2.0	1.0	1200	$795	$0.66	43d	1	0.49mi
1714 7th St Wichita Falls, TX	3.0	1.0	1452	$850	$0.59	43d	1	0.59mi
1301 Giddings St Wichita Falls, TX	3.0	1.0	1000	$1,150	$1.15	43d	1	0.74mi
1916 7th St Wichita Falls, TX	2.0	1.0	1226	$1,050	$0.86	43d	1	0.74mi
1901 Giddings St Wichita Falls, TX	3.0	2.0	909	$1,175	$1.29	43d	1	0.84mi
2130 Avenue K Wichita Falls, TX	3.0	2.0	1090	$1,390	$1.28	43d	1	0.96mi
2006 Bell St Wichita Falls, TX	3.0	1.0	1120	$1,000	$0.89	43d	1	0.99mi
1507 Polk St Wichita Falls, TX	3.0	1.0	1316	$1,050	$0.80	43d	1	1.00mi
1515 Fillmore St Wichita Falls, TX	3.0	2.0	909	$1,225	$1.35	43d	1	1.15mi
1813 Polk St Wichita Falls, TX	3.0	2.0	1090	$1,364	$1.25	43d	1	1.19mi
2304 Avenue K Wichita Falls, TX	3.0	2.0	1040	$1,050	$1.01	43d	1	1.36mi
2003 Buchanan St Wichita Falls, TX	3.0	2.0	1118	$1,100	$0.98	43d	1	1.50mi

Listing history 30 events

1. 2026-06-19
   days on market $99,990 Active 30 DOM
2. 2026-06-18
   days on market $99,990 Active 29 DOM
3. 2026-06-17
   days on market $99,990 Active 28 DOM
4. 2026-06-16
   days on market $99,990 Active 27 DOM
5. 2026-06-15
   days on market $99,990 Active 26 DOM
6. 2026-06-14
   days on market $99,990 Active 24 DOM
7. 2026-06-13
   days on market $99,990 Active 23 DOM
8. 2026-06-10
   days on market $99,990 Active 21 DOM
9. 2026-06-09
   days on market $99,990 Active 20 DOM
10. 2026-06-08
    days on market $99,990 Active 19 DOM
11. 2026-06-07
    days on market $99,990 Active 18 DOM
12. 2026-06-05
    days on market $99,990 Active 15 DOM
13. 2026-06-02
    days on market $99,990 Active 13 DOM
14. 2026-06-01
    days on market $99,990 Active 12 DOM
15. 2026-05-31
    days on market $99,990 Active 11 DOM
16. 2026-05-30
    days on market $99,990 Active 10 DOM
17. 2026-05-20
    listed $99,990 Active
18. 2024-03-19
    soldstatus
19. 2023-07-21
    soldstatus
20. 2023-07-20
    soldstatus Closed 281-char remark

    Show marketing remark (281 chars)

    3 bedrooms, 1 bath home in the Southland addition. This home has had new flooring installed and fresh paint throughout. The kitchen features a cute breakfast bar and plenty of storage. Separate utility room with washer/dryer connections. Additionally, it features a large backyard.

21. 2023-07-11
    historical 281-char remark

    Show marketing remark (281 chars)

    3 bedrooms, 1 bath home in the Southland addition. This home has had new flooring installed and fresh paint throughout. The kitchen features a cute breakfast bar and plenty of storage. Separate utility room with washer/dryer connections. Additionally, it features a large backyard.

22. 2023-06-30
    price $90,000 281-char remark

    Show marketing remark (281 chars)

    3 bedrooms, 1 bath home in the Southland addition. This home has had new flooring installed and fresh paint throughout. The kitchen features a cute breakfast bar and plenty of storage. Separate utility room with washer/dryer connections. Additionally, it features a large backyard.

23. 2023-06-20
    listed $95,000 Active 281-char remark

    Show marketing remark (281 chars)

    3 bedrooms, 1 bath home in the Southland addition. This home has had new flooring installed and fresh paint throughout. The kitchen features a cute breakfast bar and plenty of storage. Separate utility room with washer/dryer connections. Additionally, it features a large backyard.

24. 2022-01-21
    soldstatus 469-char remark

    Show marketing remark (469 chars)

    Adorable 3 bedroom home available in the Southland addition, many many updates to this one! Foundation was repaired this year, holds a transferable warranty. New Electrical meter was installed, HVAC repairs, runs like new. New paint & flooring and the list goes on. .. .. this home has a large private back yard and great curb appeal. The new refrigerator and new washer & dryer stay with the sale of this home, also a new roof installed for the right offer

25. 2022-01-21
    soldstatus

    Show marketing remark (469 chars)

    Adorable 3 bedroom home available in the Southland addition, many many updates to this one! Foundation was repaired this year, holds a transferable warranty. New Electrical meter was installed, HVAC repairs, runs like new. New paint & flooring and the list goes on. .. .. this home has a large private back yard and great curb appeal. The new refrigerator and new washer & dryer stay with the sale of this home, also a new roof installed for the right offer

26. 2021-07-23
    listed $73,500 469-char remark

    Show marketing remark (469 chars)

    Adorable 3 bedroom home available in the Southland addition, many many updates to this one! Foundation was repaired this year, holds a transferable warranty. New Electrical meter was installed, HVAC repairs, runs like new. New paint & flooring and the list goes on. .. .. this home has a large private back yard and great curb appeal. The new refrigerator and new washer & dryer stay with the sale of this home, also a new roof installed for the right offer

27. 2020-12-17
    soldstatus
28. 2020-12-12
    soldstatus
29. 2020-06-29
    listed $40,000
30. 2014-01-31
    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: $1,896 · $158/mo
• Projected year-2 tax: $1,896 · $158/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 2/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 20 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 7% 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: $13,098
• − Mortgage interest: −$5,601
• − Property taxes: −$1,896
• − Insurance: −$500
• − Repairs & maintenance: −$1,048
• − Management: −$1,048
• − Depreciation: −$2,909
• Taxable income: $97
• Est. tax owed @ 24.0%: −$23
• After-tax cash flow: $1,636/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

+150.0% since first listed

14 events — show timeline

• 2026-05-20 Listed $99,990 WFAOR
• 2024-03-19 Sold (Public Records) — Public Records
• 2023-07-21 Sold (Public Records) — Public Records
• 2023-07-20 Sold (MLS) — WFAOR
• 2023-07-11 Delisted — WFAOR
• 2023-06-30 Price Changed $90,000 WFAOR
• 2023-06-20 Listed $95,000 WFAOR
• 2022-01-21 Sold (Public Records) — Public Records
• 2022-01-21 Sold (MLS) — WFAOR
• 2021-07-23 Listed $73,500 WFAOR
• 2020-12-17 Sold (Public Records) — Public Records
• 2020-12-12 Sold (MLS) — WFAOR
• 2020-06-29 Listed $40,000 WFAOR
• 2014-01-31 Sold (Public Records) — Public Records

Property tax history

+4.9%/yr

Latest (2025): $1,896 · +1.0% YoY. Source: county tax records.