604 S Prospect St · Amarillo, TX 79106

$150,000

2 bd · 2.0 ba · 1,138 sqft · Other public records · 40 Days on market

Built 1925 6,970 sqft lot ↓ 14% since listing

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Why this score? — see what drove the F 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 +7.6/30.0
• ARV discount +7.5/15.0
• Rent growth +3.7/5.0
• Schools +3.6/10.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• DSCR +1.7/10.0
• 1% rule +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investment opportunity near Historic Route 66! This property features a duplex plus a separate rear unit, totaling three 1 bed, 1 bath units with 1,570 sq ft combined. Unit C is currently leased at $850/month, while Units A & B (each 569 sq ft) are vacant and ready for updates--offering excellent value-add potential. Charming curb appeal with a covered front porch, mature trees, and defined unit entrances. Situated on a 6,970 sq ft lot with driveway and street parking. Projected rents of $750/$750/$850 create strong rental income potential. Ideal for investors looking to start or expand their portfolio.

Key facts

• Covered front porch
• Separate rear unit
• Mature trees

Tags

• INVESTMENT OPPORTUNITY
• SEPARATE REAR UNIT
• DEFINED UNIT ENTRANCES
• COVERED FRONT PORCH
• MATURE TREES
• DRIVEWAY AND STREET PARKING

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath other listed at $150k.

Deal economics

• At list price, monthly cash flow is $-181 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $118k (21.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $100k (33.6% below list).
• Recommended offer: $100k (33.6% below list) — sets the bar for 1% rule.

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 (+4.7%/yr); 132 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 1,214 units permitted in Potter County in 2024 (650 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 $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y 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 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $99,560 (33.6% 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. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 34% concession, seller financing, or rate buy-down credit?
3. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
8. 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.
9. 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.
10. 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: 0.66% ✗
• Cap rate: 4.85%
• Cash-on-cash: -5.16%
• DSCR: 0.77
• GRM: 12.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.69% rent growth · sell at horizon

5-year hold

• IRR: -23.4%
• Equity multiple: 0.19×
• Total profit: $-34,114
• Equity at exit: $22,365

10-year hold

• IRR: -14.6%
• Equity multiple: 0.11×
• Total profit: $-37,316
• Equity at exit: $12,969

Cash invested: $42,000 (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 79106

• Rents YoY: 4.7%
• Active inventory: 132
• Price-to-rent: 12.6×

Monthly cashflow live

• Estimated rent: $996 high
• Mortgage (P&I): −$787
• Tax from tax record: −$118 /mo · $1,416/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$209
• Net cashflow: $-181

Break-even live

Break-even rent $1,224

Max offer price $118,100

Occupancy floor —

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
406 S Tennessee St Amarillo, TX	2.0	1.0	837	$895	$1.07	21d	1	0.25mi
89 N Fairmont St Amarillo, TX	3.0	1.0	780	$1,000	$1.28	43d	1	0.44mi
701 Sunset Ter Amarillo, TX	3.0	1.0	1444	$1,350	$0.93	21d	1	0.46mi
701 Sunset Ter Amarillo, TX	3.0	1.0	1444	$1,350	$0.93	43d	1	0.46mi
4222 SW 2nd Ave Amarillo, TX	1.0	1.0	1114	$799	$0.72	21d	1	0.50mi
4224 SW 2nd Ave Amarillo, TX	2.0	1.0	891	$775	$0.87	21d	1	0.51mi
4231 SW 2nd Ave Amarillo, TX	2.0	1.0	891	$875	$0.98	21d	1	0.51mi
4226 SW 2nd Ave Amarillo, TX	1.0	1.0	1193	$799	$0.67	21d	1	0.52mi
4226 SW 2nd Ave Amarillo, TX	2.0	2.0	800	$949	$1.19	13d	1	0.52mi
206 N Prospect St Amarillo, TX	2.0	1.0	1479	$950	$0.64	21d	1	0.56mi
4215 SW 11th Ave Amarillo, TX	1.0	1.0	1224	$995	$0.81	21d	1	0.57mi
1008 S Mississippi St Amarillo, TX	3.0	2.0	1061	$1,275	$1.20	21d	1	0.59mi
802 S Kentucky St Amarillo, TX	2.0	1.0	970	$899	$0.93	43d	1	0.64mi
705 S Florida St Amarillo, TX	2.0	1.0	1014	$850	$0.84	21d	1	0.72mi
900 S Avondale St Amarillo, TX	2.0	1.5	1000	$875	$0.88	13d	1	0.86mi
108 N Florida St Amarillo, TX	2.0	1.0	960	$800	$0.83	21d	1	0.87mi
3118 SW 15th Ave Amarillo, TX	2.0–3.0	1.0–2.0	1015	$640	$0.63	13d	17	0.90mi
1326 Hillcrest St Amarillo, TX	3.0	1.0	958	$1,295	$1.35	21d	1	0.91mi
2306 SW 8th Ave Unit 2 Amarillo, TX	2.0	1.0	700	$950	$1.36	43d	1	0.94mi
913 S Rusk St Amarillo, TX	3.0	2.0	1450	$1,450	$1.00	13d	1	1.02mi
1809 Chama St Amarillo, TX	3.0	1.0	1396	$1,600	$1.15	43d	1	1.06mi

Listing history 4 events

1. 2026-04-17
   listed $150,000 Active 616-char remark

   Show marketing remark (616 chars)

   Investment opportunity near Historic Route 66! This property features a duplex plus a separate rear unit, totaling three 1 bed, 1 bath units with 1,570 sq ft combined. Unit C is currently leased at $850/month, while Units A & B (each 569 sq ft) are vacant and ready for updates--offering excellent value-add potential. Charming curb appeal with a covered front porch, mature trees, and defined unit entrances. Situated on a 6,970 sq ft lot with driveway and street parking. Projected rents of $750/$750/$850 create strong rental income potential. Ideal for investors looking to start or expand their portfolio.

2. 2023-02-22
   listed $175,000 Active
3. 2020-02-18
   soldstatus
4. 2009-05-01
   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: $1,416 · $118/mo
• Projected year-2 tax: $2,745 · $229/mo
• Expected delta: +$1,329/yr (+$111/mo · 93.9%)

ⓘ 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 6 d/yr ≥97°F today · 15 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: $11,947
• − Mortgage interest: −$8,402
• − Property taxes: −$1,416
• − Insurance: −$750
• − Repairs & maintenance: −$956
• − Management: −$956
• − Depreciation: −$4,364
• Taxable loss: −$4,896
• Est. tax savings @ 24.0%: +$1,175
• After-tax cash flow: $-992/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: Potter County · 72,216 people
• City population: 185,802
• Metro: Amarillo, TX
• Population (ZIP): 26,161
• Household income: $59,493
• Rent vs Own: 48.4% rent · 51.6% own
• Severe rent burden: 994.0

Population outlook (Potter County) Hauer SSP2

• Today (2025): 121,296 people
• By 2030: 120,883 · -0.3%
• By 2040: 119,668 · -1.3%
• By 2050: 117,788 · -2.9%
• By 2075: 110,250 · -9.1%
• By 2100: 92,923 · -23.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 56% Hispanic / Latino 33% Two or more races 16% Black 5% Asian 4%
• Hispanic origin (detail): Mexican 29%
• Common ancestry: Italian 3% Slovak 2% Iranian 2%
• Foreign-born: 9% · Canada, Philippines, Vietnam
• Languages at home: 80% English-only · Spanish 16% Other Asian/Pacific 2% Vietnamese 1%

Political lean MEDSL · Potter

• 2024 margin: Solid R (+44.4) · D 27.3% · R 71.7% · Other 1.1%
• 2008→2024 swing: -5.0pp toward R · 2008: -39.4pp · 2024: -44.4pp
• All cycles: 2024: R+44.4 2020: R+38.7 2016: R+41.9 2012: R+44.6 2008: R+39.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -179.04%
• Current HPI: 178.2153
• Rent YoY: ▲ 4.69%
• 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

-14.3% since first listed

4 events — show timeline

• 2026-04-17 Listed $150,000 AARMLS
• 2023-02-22 Listed $175,000 AARMLS
• 2020-02-18 Sold (Public Records) — Public Records
• 2009-05-01 Sold (Public Records) — Public Records

Property tax history

+5.9%/yr

Latest (2025): $1,416 · +16.2% YoY. Source: county tax records.