2159 Avenue F · Wichita Falls, TX 76309

$30,000

2 bd · 1.0 ba · 1,205 sqft · SingleFamily public records · 22 Days on market

Built 1925

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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 +4.6/5.0
• Livability +3.5/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investors will want to take this and fix it up. House is in bad shape and to be SOLD "AS IS". Please be careful when walking into the house. No utilities are turned on.

Key facts

• Built 1925
• Listed 21 days

Property features AI

Finance

• Other: Located in the Floral Heights subdivision

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; 1 story; Residential property
• Construction: Wood siding construction; Composition roof
• Exterior features: Irregular lot; North-facing

Interior

• Interior features: Single-story layout

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $30k.

Deal economics

• At list price, monthly cash flow is $632 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $30k).
• Recommended offer: $30k (1.5% below list) — sets the bar for market timing.
• Cap rate 31.6% 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 (+8.3%/yr); 129 active listings in the ZIP; 22 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; 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 $207 of loan paydown is wiped out by about $900 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 + 8.0% rent growth), your $8k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($30k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1925 — 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 $29,550 (1.5% below list)

Questions for the listing agent

1. Built in 1925 — 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: 3.54% ✓
• Cap rate: 31.59%
• Cash-on-cash: 90.35%
• DSCR: 5.02
• GRM: 2.4

CMA / ARV

• ARV (on-the-fly): $61,455
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1300 Bell St	0.25mi	2/1.5	1,150 (-5%)	9mo	$59,000	$51	71
2147 Avenue J	0.28mi	3/1.0 (+1)	1,140 (-5%)	10mo	$135,000	$118	65
2168 Avenue H	0.12mi	3/2.0 (+1)	1,340 (+11%)	6mo	$45,500	$34	62
2109 8th St	0.66mi	2/2.0	1,377 (+14%)	17mo	$69,900	$51	27

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 96.6%
• Equity multiple: 5.89×
• Total profit: $41,053
• Equity at exit: $4,473

10-year hold

• IRR: —
• Equity multiple: 14.48×
• Total profit: $113,249
• Equity at exit: $2,594

Cash invested: $8,400 (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 76309

• Rents YoY: 8.3%
• Active inventory: 129
• Price-to-rent: 2.4×

Monthly cashflow live

• Estimated rent: $1,063 high
• Mortgage (P&I): −$157
• Tax est. 1.5%: −$38 /mo · $450/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$223
• Net cashflow: $632

Break-even live

Break-even rent $262

Max offer price $30,000

Occupancy floor 36%

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: $7,500
• Closing costs: $900
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1507 Polk St Wichita Falls, TX	3.0	1.0	1316	$1,050	$0.80	43d	1	0.09mi
1515 Fillmore St Wichita Falls, TX	3.0	2.0	909	$1,225	$1.35	43d	1	0.21mi
1813 Polk St Wichita Falls, TX	3.0	2.0	1090	$1,364	$1.25	43d	1	0.23mi
1901 Giddings St Wichita Falls, TX	3.0	2.0	909	$1,175	$1.29	43d	1	0.32mi
1301 Giddings St Wichita Falls, TX	3.0	1.0	1000	$1,150	$1.15	43d	1	0.33mi
2006 Bell St Wichita Falls, TX	3.0	1.0	1120	$1,000	$0.89	43d	1	0.33mi
2130 Avenue K Wichita Falls, TX	3.0	2.0	1090	$1,390	$1.28	43d	1	0.37mi
2304 Avenue K Wichita Falls, TX	3.0	2.0	1040	$1,050	$1.01	43d	1	0.41mi
2003 Buchanan St Wichita Falls, TX	3.0	2.0	1118	$1,100	$0.98	43d	1	0.50mi
1824 Collins Ave Wichita Falls, TX	1.0	1.0	750	$795	$1.06	43d	1	0.56mi
2007 10th St Unit B Wichita Falls, TX	1.0	1.0	744	$750	$1.01	43d	1	0.60mi
2500 Taylor St Unit 2500 Taylor A Wichita Falls, TX	2.0	1.0	910	$800	$0.88	43d	1	0.71mi
2204 Tilden St Unit A Wichita Falls, TX	3.0	2.0	872	$930	$1.07	43d	1	0.72mi
2912 Avenue L Unit L Wichita Falls, TX	2.0	1.0	1104	$895	$0.81	43d	1	0.76mi
1821 9th St Unit B Wichita Falls, TX	2.0	1.0	1200	$795	$0.66	43d	1	0.78mi
504 Fillmore St Wichita Falls, TX	1.0–2.0	1.0	734	$895	$1.22	43d	6	0.85mi
1916 7th St Wichita Falls, TX	2.0	1.0	1226	$1,050	$0.86	43d	1	0.89mi
1810 7th St Unit 1/2 Wichita Falls, TX	2.0	1.0	806	$775	$0.96	43d	1	0.99mi
1901 Wenonah Ave Unit B Wichita Falls, TX	2.0	1.0	946	$1,000	$1.06	43d	1	1.04mi
2812 Avenue R Unit R Wichita Falls, TX	2.0	1.0	1044	$925	$0.89	43d	1	1.05mi
1714 7th St Wichita Falls, TX	3.0	1.0	1452	$850	$0.59	43d	1	1.06mi
3706 Seymour Rd Wichita Falls, TX	1.0–3.0	1.0–2.5	1100	$1,188	$1.08	43d	13	1.44mi

Listing history 18 events

1. 2026-06-19
   days on market $30,000 Active 22 DOM
2. 2026-06-18
   days on market $30,000 Active 21 DOM
3. 2026-06-17
   days on market $30,000 Active 20 DOM
4. 2026-06-16
   days on market $30,000 Active 19 DOM
5. 2026-06-15
   days on market $30,000 Active 18 DOM
6. 2026-06-14
   days on market $30,000 Active 16 DOM
7. 2026-06-13
   days on market $30,000 Active 15 DOM
8. 2026-06-10
   days on market $30,000 Active 13 DOM
9. 2026-06-09
   days on market $30,000 Active 12 DOM
10. 2026-06-08
    days on market $30,000 Active 11 DOM
11. 2026-06-07
    days on market $30,000 Active 10 DOM
12. 2026-06-05
    days on market $30,000 Active 7 DOM
13. 2026-06-02
    days on market $30,000 Active 5 DOM
14. 2026-06-01
    days on market $30,000 Active 4 DOM
15. 2026-05-31
    days on market $30,000 Active 3 DOM
16. 2026-05-30
    days on market $30,000 Active 2 DOM
17. 2026-05-28
    listed $30,000 Active
18. 2020-11-10
    soldstatus

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 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: $12,756
• − Mortgage interest: −$1,680
• − Property taxes: −$450
• − Insurance: −$150
• − Repairs & maintenance: −$1,020
• − Management: −$1,020
• − Depreciation: −$873
• Taxable income: $7,562
• Est. tax owed @ 24.0%: −$1,815
• After-tax cash flow: $5,774/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): 13,395
• Household income: $54,159
• Rent vs Own: 42.7% rent · 57.3% own
• Severe rent burden: 469.0

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 0.57)
• Race & ethnicity: White 58% Hispanic / Latino 29% Two or more races 12% Black 6% Asian 2% Native American 2%
• Hispanic origin (detail): Mexican 27%
• Common ancestry: Lithuanian 1% Romanian 1% Portuguese 1%
• Foreign-born: 7% · Canada, Vietnam, Jamaica
• Languages at home: 82% English-only · Spanish 15% Vietnamese 1% French/Haitian/Cajun 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: ▼ -88.35%
• Current HPI: 137.2935
• Rent YoY: ▲ 8.33%
• 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

2 events — show timeline

• 2026-05-28 Listed $30,000 WFAOR
• 2020-11-10 Sold (Public Records) — Public Records

Property tax history

+5.6%/yr

Latest (2025): $1,501 · +3.2% YoY. Source: county tax records.