3702 S Polk St · Amarillo, TX 79110

$90,000

2 bd · 2.0 ba · 1,140 sqft · Other public records · 178 Days on market

Built 1926 $79/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 +4.0/5.0
• Schools +3.6/10.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This duplex is 1/2 leased out until Aug 2026. Attention Investors! Income producing property in Gables Addition. 1 bedroom 1 bath duplex, rents for $660 each side Each side has hardwood floors, washer/dryer connections Please DO NOT bother tenant! We must have 24 hours notice. Owner/Agent.

Key facts

• Hardwood floors
• Garage
• Built 1926

Tags

• INCOME PRODUCING PROPERTY
• HARDWOOD FLOORS
• WASHER DRYER CONNECTIONS

🏷️ Possibly a rental listed for sale. The $90,000 price doesn't fit this home's estimated sale value (~$193,692) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath other listed at $90k.

Deal economics

• At list price, monthly cash flow is $496 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $79k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 66/100 on livability (#624 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: amenities C-, schools D, crime F.
• Amarillo ISD (urban): math 44% / reading 41% proficiency, ranked #336 of 826 in TX (top 41%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+6.0%/yr); 65 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 45 units permitted in Randall County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Randall County population projected at +36% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 6.0% rent growth), your $25k 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 ($79k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 1926 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $79,200 (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 1926 — 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 F 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: 1.57% ✓
• Cap rate: 12.91%
• Cash-on-cash: 23.64%
• DSCR: 2.05
• GRM: 5.3

CMA / ARV

• ARV (median comp): $193,692
• List price: $90,000
• Delta: -53.53%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 6.04% rent growth · sell at horizon

5-year hold

• IRR: 20.2%
• Equity multiple: 1.85×
• Total profit: $21,492
• Equity at exit: $13,419

10-year hold

• IRR: 30.4%
• Equity multiple: 4.13×
• Total profit: $78,897
• Equity at exit: $7,782

Cash invested: $25,200 (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 79110

• Rents YoY: 6.0%
• Active inventory: 65
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,409 high
• Mortgage (P&I): −$472
• Tax from tax record: −$107 /mo · $1,287/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$296
• Net cashflow: $496

Break-even live

Break-even rent $781

Max offer price $90,000

Occupancy floor 60%

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3205 S Tyler St Amarillo, TX	3.0	1.0	1381	$1,475	$1.07	13d	1	0.34mi
3703 S Monroe St Amarillo, TX	2.0	1.0	750	$1,100	$1.47	20d	1	0.34mi
3813 S Washington St Unit B Amarillo, TX	2.0	2.0	954	$1,050	$1.10	43d	1	0.43mi
4205 S Tyler St Amarillo, TX	2.0	1.0	852	$925	$1.09	43d	1	0.45mi
4308 S Jackson St Amarillo, TX	3.0	1.0	1302	$1,490	$1.14	20d	1	0.66mi
4316 S Hayden St Amarillo, TX	3.0	1.5	1356	$1,650	$1.22	43d	1	0.85mi
608 Lochridge Amarillo, TX	3.0	2.0	1455	$1,900	$1.31	43d	1	1.03mi
4108 Crockett St Amarillo, TX	3.0	1.0	1373	$1,525	$1.11	43d	1	1.06mi
4620 S Hayden St Amarillo, TX	3.0	1.0	1036	$1,475	$1.42	20d	1	1.08mi
4615 S Lipscomb St Amarillo, TX	3.0	2.0	1168	$1,000	$0.86	13d	1	1.13mi
307 Mikeska St Amarillo, TX	3.0	2.0	1250	$1,800	$1.44	20d	1	1.30mi
2103 Parker St Amarillo, TX	3.0	2.0	1306	$2,300	$1.76	20d	1	1.32mi
2104 S Travis St Amarillo, TX	3.0	1.0	1236	$1,700	$1.38	20d	1	1.36mi
4623 Crockett St Amarillo, TX	2.0	1.0	720	$1,100	$1.53	20d	1	1.40mi
2030 Crockett St Amarillo, TX	3.0	1.5	1307	$1,750	$1.34	13d	1	1.43mi
4418 Ross St Amarillo, TX	3.0	2.0	1388	$1,750	$1.26	20d	1	1.48mi

Listing history 20 events

1. 2026-06-18
   days on market $90,000 Active 178 DOM
2. 2026-06-17
   days on market $90,000 Active 177 DOM
3. 2026-06-16
   days on market $90,000 Active 176 DOM
4. 2026-06-15
   days on market $90,000 Active 175 DOM
5. 2026-06-14
   days on market $90,000 Active 173 DOM
6. 2026-06-13
   days on market $90,000 Active 172 DOM
7. 2026-06-10
   days on market $90,000 Active 170 DOM
8. 2026-06-09
   days on market $90,000 Active 169 DOM
9. 2026-06-08
   days on market $90,000 Active 168 DOM
10. 2026-06-07
    days on market $90,000 Active 167 DOM
11. 2026-06-03
    days on market $90,000 Active 163 DOM
12. 2026-06-02
    days on market $90,000 Active 162 DOM
13. 2026-06-01
    days on market $90,000 Active 161 DOM
14. 2026-05-31
    days on market $90,000 Active 160 DOM
15. 2026-05-30
    days on market $90,000 Active 159 DOM
16. 2026-01-31
    status Active 292-char remark

    Show marketing remark (292 chars)

    This duplex is 1/2 leased out until Aug 2026. Attention Investors! Income producing property in Gables Addition. 1 bedroom 1 bath duplex, rents for $660 each side Each side has hardwood floors, washer/dryer connections Please DO NOT bother tenant! We must have 24 hours notice. Owner/Agent.

17. 2026-01-21
    historical Active Under Contract 292-char remark

    Show marketing remark (292 chars)

    This duplex is 1/2 leased out until Aug 2026. Attention Investors! Income producing property in Gables Addition. 1 bedroom 1 bath duplex, rents for $660 each side Each side has hardwood floors, washer/dryer connections Please DO NOT bother tenant! We must have 24 hours notice. Owner/Agent.

18. 2025-12-22
    listed $90,000 Active 292-char remark

    Show marketing remark (292 chars)

    This duplex is 1/2 leased out until Aug 2026. Attention Investors! Income producing property in Gables Addition. 1 bedroom 1 bath duplex, rents for $660 each side Each side has hardwood floors, washer/dryer connections Please DO NOT bother tenant! We must have 24 hours notice. Owner/Agent.

19. 2022-08-29
    price $650
20. 2011-12-09
    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: $1,287 · $107/mo
• Projected year-2 tax: $1,647 · $137/mo
• Expected delta: +$360/yr (+$30/mo · 28.0%)

ⓘ 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 9/10 Extreme
• 🌡 Heat 4/10 Moderate 7 d/yr ≥97°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,908
• − Mortgage interest: −$5,041
• − Property taxes: −$1,287
• − Insurance: −$450
• − Repairs & maintenance: −$1,353
• − Management: −$1,353
• − Depreciation: −$2,618
• Taxable income: $4,806
• Est. tax owed @ 24.0%: −$1,154
• After-tax cash flow: $4,803/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: Amarillo ISD
• NCES district ID: 4808130
• Math proficiency: 44% ▼ -9.00%
• Reading proficiency: 41% ▼ -3.00%
• Median HH income: $43,478
• Composite: 35.96/100
• National rank: #4798
• State rank: #336 of 826 in TX

Livability — Amarillo

• Score: 66/100
• State rank: #624
• US rank: #11876

Category grades

Amenities C- Commute F Cost of living A+ Crime F Employment C Housing A+ Health & safety F User ratings B-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Amarillo, TX
• County: Randall County · 137,351 people
• City population: 185,802
• Metro: Amarillo, TX
• Population (ZIP): 16,994
• Household income: $66,683
• Rent vs Own: 30.1% rent · 69.9% own
• Severe rent burden: 208.0

Population outlook (Randall County) Hauer SSP2

• Today (2025): 152,140 people
• By 2030: 163,107 · +7.2%
• By 2040: 184,999 · +21.6%
• By 2050: 206,948 · +36.0%
• By 2075: 260,204 · +71.0%
• By 2100: 294,980 · +93.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (61%)
• Race & ethnicity: White 61% Hispanic / Latino 32% Two or more races 13% Black 4% Asian 1%
• Hispanic origin (detail): Mexican 29%
• Common ancestry: Italian 2% Slovak 1% Lithuanian 1%
• Foreign-born: 5% · Canada, Vietnam
• Languages at home: 83% English-only · Spanish 13% Other Indo-European 2% Other Asian/Pacific 1%

Political lean MEDSL · Randall

• 2024 margin: Solid R (+60.4) · D 19.4% · R 79.8%
• 2008→2024 swing: +2.3pp toward D · 2008: -62.7pp · 2024: -60.4pp
• All cycles: 2024: R+60.4 2020: R+58.8 2016: R+65.1 2012: R+68.2 2008: R+62.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -226.16%
• Current HPI: 180.2164
• Rent YoY: ▲ 6.04%
• Metro: Amarillo, 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

5 events — show timeline

• 2026-01-31 Relisted — AARMLS
• 2026-01-21 Contingent — AARMLS
• 2025-12-22 Listed $90,000 AARMLS
• 2022-08-29 Price Changed $650 RENT.
• 2011-12-09 Sold (Public Records) — Public Records

Property tax history

+3.0%/yr

Latest (2025): $1,287 · -6.0% YoY. Source: county tax records.