5 Court Capistrano Apt 3 · Wichita Falls, TX 76310

$139,900

2 bd · 2.0 ba · 1,032 sqft · SingleFamily · 154 Days on market

Built 1968 Good condition $136/sqft · 11% below area Est $158k · 11% under $15/mo HOA · 1% of rent

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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 +16.1/30.0
• ARV discount +12.6/15.0
• DSCR +5.0/10.0
• 1% rule +4.5/10.0
• Rent growth +4.5/5.0
• Condition / age +3.8/5.0
• Livability +3.5/5.0
• Schools +2.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming 2BR/2BA condo in sought-after Spanish Trace! This ground-floor unit features an open layout, spacious bedrooms, and a rare private patio with grass—perfect for relaxing or pets. Enjoy in-unit laundry, assigned parking, and a well-kept community with a pool. HOA is $175/mo and includes exterior maintenance, water, and more. Convenient to shopping, dining, and highways. Don’t miss this move-in ready gem!

Key facts

• In-unit laundry
• Private patio
• Pool

Tags

• PRIVATE PATIO
• IN-UNIT LAUNDRY
• ASSIGNED PARKING
• WELL-KEPT COMMUNITY
• POOL

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $140k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $73 ($873/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $133k (4.6% below list).
• Recommended offer: $123k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.9% 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 (+7.8%/yr); 151 active listings in the ZIP; 3 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; solid renter incomes; 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 $967 of loan paydown is wiped out by about $4k 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 154 days — a 12% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y 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

• Climate carrying-cost: severe wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $123,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 154 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 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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: 0.95% ✗
• Cap rate: 6.92%
• Cash-on-cash: 2.23%
• DSCR: 1.10
• GRM: 8.7

CMA / ARV

• ARV (median comp): $157,900
• List price: $139,900
• Delta: -11.40%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4661 Briarwood Dr	0.53mi	3/2.0 (+1)	1,116 (+8%)	6mo	$149,500	$134	52

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 · 7.83% rent growth · sell at horizon

5-year hold

• IRR: -7.4%
• Equity multiple: 0.71×
• Total profit: $-11,204
• Equity at exit: $20,860

10-year hold

• IRR: 7.5%
• Equity multiple: 1.69×
• Total profit: $27,183
• Equity at exit: $12,096

Cash invested: $39,172 (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 76310

• Home prices YoY: -25.9%
• Rents YoY: 7.8%
• Active inventory: 151
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,335 medium
• Mortgage (P&I): −$734
• Tax est. 1.5%: −$175 /mo · $2,098/yr
• Insurance: −$58
• HOA: −$15
• Vacancy / Maint / Mgmt: −$280
• Net cashflow: $73

Break-even live

Break-even rent $1,243

Max offer price $139,900

Occupancy floor 90%

Sensitivity live

Price	-10% $169	-5% $121	+0% $73	+5% $24	+10% $-24
Rent	-10% $-33	-5% $20	+0% $73	+5% $125	+10% $178
Rate	-1.0pp $143	-0.5pp $108	base $73	+0.5pp $36	+1.0pp $0

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5210 Tower Dr Wichita Falls, TX	1.0	1.5	910	$775	$0.85	44d	1	0.71mi
5313 Langford Ln Wichita Falls, TX	3.0	2.0	1092	$1,650	$1.51	44d	1	0.97mi
4111 McGaha Ave Wichita Falls, TX	3.0	2.0	1025	$1,125	$1.10	44d	1	1.37mi

HOA detail

• Monthly dues: $15 · $180/yr
• Likely covers: waterexterior maint.poolparking

Listing history 5 events

1. 2026-05-30
   days on market $139,900 Active 154 DOM
2. 2025-12-27
   listed $139,900 Active 426-char remark

   Show marketing remark (426 chars)

   Charming 2BR/2BA condo in sought-after Spanish Trace! This ground-floor unit features an open layout, spacious bedrooms, and a rare private patio with grass—perfect for relaxing or pets. Enjoy in-unit laundry, assigned parking, and a well-kept community with a pool. HOA is $175/mo and includes exterior maintenance, water, and more. Convenient to shopping, dining, and highways. Don’t miss this move-in ready gem!

3. 2025-10-16
   price $139,900
4. 2023-05-01
   soldstatus Closed
5. 2022-07-14
   listed $129,900 Active

ⓘ 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 8/10 Severe
• 🌡 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: $16,019
• − Mortgage interest: −$7,837
• − Property taxes: −$2,098
• − Insurance: −$700
• − Repairs & maintenance: −$1,281
• − Management: −$1,281
• − HOA: −$180
• − Depreciation: −$4,070
• Taxable loss: −$1,429
• Est. tax savings @ 24.0%: +$343
• After-tax cash flow: $1,216/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

This move-in ready 2BR/2BA condo in Spanish Trace is in good condition with minor repairs needed in the kitchen and bathroom. It offers a spacious layout, a private patio, and a well-maintained exterior, making it an attractive option for both resale and rental.

Repairs flagged

• Minor Kitchen cabinets — Light wear and tear on the cabinets.
• Minor Bathroom fixtures — Light wear and tear on the fixtures.
• Minor Kitchen countertops — Light wear and tear on the countertops.

Value-add opportunities

• Resale Paint kitchen cabinets and countertops — Fresh paint can enhance the appearance and value of the kitchen.
• Resale Replace shower curtain and fixtures in bathroom — Fresh and updated bathroom fixtures can enhance the overall appeal and value of the home.
• Both Landscaping and curb appeal — A well-maintained exterior can enhance both resale and rental value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Light wear and tear on the cabinets.	Minor	$500–3,000
Bathroom fixtures · Light wear and tear on the fixtures.	Minor	$500–3,000
Kitchen countertops · Light wear and tear on the countertops.	Minor	$500–3,000
Total estimated repair cost · 3 items		$1,500–9,000

Value-add ROI direction

• Resale Paint kitchen cabinets and countertops — Fresh paint can enhance the appearance and value of the kitchen. ↑
• Resale Replace shower curtain and fixtures in bathroom — Fresh and updated bathroom fixtures can enhance the overall appeal and value of the home. ↑
• Both Landscaping and curb appeal — A well-maintained exterior can enhance both resale and rental value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 19,029
• Household income: $82,183
• Rent vs Own: 27.6% rent · 72.4% own
• Severe rent burden: 263.0

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 (70%)
• Race & ethnicity: White 70% Hispanic / Latino 13% Two or more races 10% Black 6% Asian 5%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Italian 3% Lithuanian 2% Iranian 2%
• Foreign-born: 6% · Canada, Vietnam, South Korea
• Languages at home: 89% English-only · Spanish 6% Other Indo-European 1% Vietnamese 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: ▼ -61.37%
• Current HPI: 176.0321
• Rent YoY: ▲ 7.83%
• 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

+7.7% since first listed

4 events — show timeline

• 2025-12-27 Listed $139,900 WFAOR
• 2025-10-16 Price Changed $139,900 WFAOR
• 2023-05-01 Sold (MLS) — WFAOR
• 2022-07-14 Listed $129,900 WFAOR