3317 Buchanan St · Wichita Falls, TX 76308

$82,000

3 bd · 1.0 ba · 960 sqft · SingleFamily public records · 13 Days on market

Built 1954 Est $111k · 26% under

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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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.6/10.0
• Livability +3.5/5.0
• Rent growth +3.4/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investor opportunity in a prime location! Renovations have been started, making this the perfect chance to finish the project and build instant equity. Exterior updates include new vinyl siding, windows, paint, and a covered front entry. Inside offers updated flooring, fresh paint, modern trim, and an open-concept layout filled with natural light. Kitchen and some bath finishes remain incomplete. Ideal for a flip, rental, or STR with excellent income potential. Sold AS-IS.

Key facts

• Income potential
• Natural light
• Vinyl siding

Tags

• VINYL SIDING
• COVERED FRONT ENTRY
• UPDATED FLOORING
• OPEN-CONCEPT LAYOUT
• NATURAL LIGHT
• INCOME POTENTIAL

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story
• Construction: Vinyl siding
• Exterior features: Composition roof; Zoned Limited Commercial

Interior

• Flooring: Laminate
• Interior features: Laminate flooring

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $82k.

Deal economics

• At list price, monthly cash flow is $-59 ($-708/yr) — negative.
• To cash-flow at today's rent, offer at most $72k (12.7% below list).
• Meets the 1% rule at list price ($1k rent vs $82k).
• Recommended offer: $72k (12.7% below list) — sets the bar for cash-flow.
• Cap rate 11.7% 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 (+3.8%/yr); 130 active listings in the ZIP; 17 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; 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 $567 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.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $71,573 (12.7% 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. Built in 1954 — 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: 1.46% ✓
• Cap rate: 11.67%
• Cash-on-cash: 19.21%
• DSCR: 1.85
• GRM: 5.7

CMA / ARV

• ARV (on-the-fly): $111,360
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3105 Grant St	0.25mi	2/1.0 (-1)	988 (+3%)	4mo	$115,000	$116	75
2801 Sherman Rd	0.67mi	2/1.0 (-1)	966 (+1%)	16mo	$25,000	$26	49

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 · 3.77% rent growth · sell at horizon

5-year hold

• IRR: -19.4%
• Equity multiple: 0.31×
• Total profit: $-15,827
• Equity at exit: $12,226

10-year hold

• IRR: -8.8%
• Equity multiple: 0.41×
• Total profit: $-13,570
• Equity at exit: $7,090

Cash invested: $22,960 (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 76308

• Rents YoY: 3.8%
• Active inventory: 130
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,195 high
• Mortgage (P&I): −$430
• Tax from tax record: −$112 /mo · $1,350/yr
• Insurance: −$34
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$251
• Net cashflow: $-59

Break-even live

Break-even rent $1,270

Max offer price $71,573

Occupancy floor 100%

Sensitivity live

Price	-10% $-13	-5% $-36	+0% $-59	+5% $-82	+10% $-105
Rent	-10% $-153	-5% $-106	+0% $-59	+5% $-12	+10% $35
Rate	-1.0pp $-18	-0.5pp $-38	base $-59	+0.5pp $-80	+1.0pp $-102

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: $20,500
• Closing costs: $2,460
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2812 Avenue R Unit R Wichita Falls, TX	2.0	1.0	1044	$925	$0.89	45d	1	0.57mi
2500 Taylor St Unit 2500 Taylor A Wichita Falls, TX	2.0	1.0	910	$800	$0.88	45d	1	0.73mi
2809 Lebanon Rd Wichita Falls, TX	2.0	1.0	600	$800	$1.33	45d	1	0.78mi
2204 Tilden St Unit A Wichita Falls, TX	3.0	2.0	872	$930	$1.07	45d	1	0.99mi
2304 Avenue K Wichita Falls, TX	3.0	2.0	1040	$1,050	$1.01	45d	1	1.02mi
2912 Avenue L Unit L Wichita Falls, TX	2.0	1.0	1104	$895	$0.81	45d	1	1.04mi
2003 Buchanan St Wichita Falls, TX	3.0	2.0	1118	$1,100	$0.98	45d	1	1.12mi
4000 Weeks Park Ln Wichita Falls, TX	1.0–3.0	1.0–2.0	870	$1,425	$1.64	45d	12	1.14mi
1813 Polk St Wichita Falls, TX	3.0	2.0	1090	$1,364	$1.25	45d	1	1.20mi
2006 Bell St Wichita Falls, TX	3.0	1.0	1120	$1,000	$0.89	45d	1	1.24mi
2130 Avenue K Wichita Falls, TX	3.0	2.0	1090	$1,390	$1.28	45d	1	1.26mi
3706 Seymour Rd Wichita Falls, TX	1.0–3.0	1.0–2.5	1100	$1,375	$1.25	45d	13	1.27mi
2612 Southwest Pkwy Wichita Falls, TX	1.0–2.0	1.0–2.0	987	$1,250	$1.27	45d	23	1.36mi
1901 Giddings St Wichita Falls, TX	3.0	2.0	909	$1,175	$1.29	45d	1	1.39mi
4611 Taft Blvd Wichita Falls, TX	2.0	2.0	952	$735	$0.77	45d	1	1.44mi
1515 Fillmore St Wichita Falls, TX	3.0	2.0	909	$1,225	$1.35	45d	1	1.47mi
1901 Wenonah Ave Unit B Wichita Falls, TX	2.0	1.0	946	$1,000	$1.06	45d	1	1.49mi

Listing history 10 events

1. 2026-06-10
   days on market $82,000 Active 13 DOM
2. 2026-06-09
   days on market $82,000 Active 12 DOM
3. 2026-06-08
   days on market $82,000 Active 11 DOM
4. 2026-06-07
   days on market $82,000 Active 10 DOM
5. 2026-06-05
   days on market $82,000 Active 7 DOM
6. 2026-06-02
   days on market $82,000 Active 5 DOM
7. 2026-06-01
   days on market $82,000 Active 4 DOM
8. 2026-05-31
   days on market $82,000 Active 3 DOM
9. 2026-05-30
   days on market $82,000 Active 2 DOM
10. 2026-05-28
    listed $82,000 Active

ⓘ 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: $1,350 · $112/mo
• Projected year-2 tax: $1,501 · $125/mo
• Expected delta: +$151/yr (+$13/mo · 11.2%)

ⓘ 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 · 67% 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 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: $14,342
• − Mortgage interest: −$4,593
• − Property taxes: −$1,350
• − Insurance: −$5,528
• − Repairs & maintenance: −$1,147
• − Management: −$1,147
• − Depreciation: −$2,385
• Taxable loss: −$1,810
• Est. tax savings @ 24.0%: +$434
• After-tax cash flow: $-274/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): 21,896
• Household income: $74,772
• Rent vs Own: 47.7% rent · 52.3% own
• Severe rent burden: 708.0

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 (72%)
• Race & ethnicity: White 72% Hispanic / Latino 16% Black 9% Two or more races 7% Asian 1%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Serbian 2% Italian 2% Slovak 1%
• Foreign-born: 6% · Canada
• Languages at home: 90% English-only · Spanish 6% Arabic 1% German/W. Germanic 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: ▼ -118.47%
• Current HPI: 177.1989
• Rent YoY: ▲ 3.77%
• 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

1 event — show timeline

• 2026-05-28 Listed $82,000 WFAOR

Property tax history

+4.3%/yr

Latest (2025): $1,350 · -1.0% YoY. Source: county tax records.