1226 Charlotte Way · Wharton, TX 77488

$169,991

3 bd · 2.0 ba · 1,266 sqft · SingleFamily · 68 Days on market

Built 2026 Good condition $134/sqft · 24% below area Est $223k · 24% under $118/mo HOA · 8% of rent ↓ 22% since listing

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Why this score? — see what drove the D 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).

• ARV discount +15.0/15.0
• Cash flow +8.9/30.0
• Condition / age +4.0/5.0
• 1% rule +3.6/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• DSCR +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

The Oakridge Floor Plan - This single-level home showcases a spacious open floorplan shared between the kitchen, dining area and family room for easy entertaining during gatherings. An owner’s suite enjoys a private location in a rear corner of the home, complemented by an en-suite bathroom and walk-in closet. There are two secondary bedrooms along the side of the home, which are ideal for household members and hosting overnight guests. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly. Photos are for illustrative purposes​​‌​​​​‌​​‌‌​‌‌​​​‌‌​​‌​​​‌‌​​‌​ only.

Key facts

• Walk-in closet
• Open floorplan
• Secondary bedrooms

Tags

• OPEN FLOORPLAN
• OWNER'S SUITE
• EN-SUITE BATHROOM
• WALK-IN CLOSET
• SECONDARY BEDROOMS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $170k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-138 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $150k (11.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $146k (14.0% below list).
• Recommended offer: $146k (14.0% below list) — sets the bar for 1% rule.
• Cap rate 5.3% vs local median 3.2% in Wharton — 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 65/100 on livability (#693 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B; Watch: crime C-, amenities F, commute F.
• Wharton ISD (town): math 28% / reading 31% proficiency, ranked #651 of 826 in TX (top 79%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Wharton El (math 22% / reading 25%, grade F, #3,247 of 4,322 statewide, top 76%, 476 students, 77% FRL); Wharton J H (math 32% / reading 32%, grade F, #971 of 1,662 statewide, top 60%, 369 students, 77% FRL); Wharton H S (math 32% / reading 37%, grade F, #963 of 1,632 statewide, top 61%, 570 students, 74% FRL).
• Market conditions: 164 active listings in the ZIP; 191 units permitted in Wharton County in 2024 (45 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 $5k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 68 days — a 6% lower offer ($160k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask is 7% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Recommended offer $146,150 (14.0% 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 68 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
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 F-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. 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: 0.86% ✗
• Cap rate: 5.32%
• Cash-on-cash: -3.48%
• DSCR: 0.84
• GRM: 9.7

CMA / ARV

• ARV (median comp): $222,847
• List price: $169,991
• Delta: -23.72%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1226 Charlotte Way	0.00mi	3/2.0	1,266 (0%)	1mo	$169,991	$134	99
1303 Charlotte Way	0.04mi	3/2.0	1,266 (0%)	5mo	$218,990	$173	94
402 Nicholas Rd	0.13mi	3/2.0	1,260 (-0%)	4mo	$227,990	$181	90
1224 Charlotte Way	0.04mi	3/2.0	1,402 (+11%)	1mo	$168,340	$120	80
1225 Charlotte Way	0.03mi	3/2.0	1,402 (+11%)	2mo	$162,940	$116	79
1207 Westgate Dr	0.25mi	3/2.0	1,331 (+5%)	3mo	$199,900	$150	77
319 Brandi Dr	0.06mi	3/2.0	1,411 (+12%)	5mo	$232,990	$165	74
1304 Charlotte Way	0.12mi	3/2.0	1,411 (+12%)	5mo	$229,990	$163	72
1718 Linwood Dr	0.52mi	3/2.0	1,200 (-5%)	1mo	$198,000	$165	66
408 Speed St	0.59mi	3/1.0	1,296 (+2%)	1mo	$170,000	$131	63
308 Circle Dr	0.59mi	3/1.0	1,420 (+12%)	1mo	$160,000	$113	47
1005 Center St	0.61mi	3/2.0	1,096 (-13%)	4mo	$115,000	$105	46

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -22.1%
• Equity multiple: 0.24×
• Total profit: $-36,252
• Equity at exit: $25,346

10-year hold

• IRR: -15.9%
• Equity multiple: 0.11×
• Total profit: $-42,516
• Equity at exit: $14,698

Cash invested: $47,597 (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 77488

• Home prices YoY: -25.3%
• Active inventory: 164
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $1,462 medium
• Mortgage (P&I): −$891
• Tax est. 1.5%: −$212 /mo · $2,550/yr
• Insurance: −$71
• HOA: −$118
• Vacancy / Maint / Mgmt: −$307
• Net cashflow: $-138

Break-even live

Break-even rent $1,636

Max offer price $149,995

Occupancy floor —

Sensitivity live

Price	-10% $-21	-5% $-79	+0% $-138	+5% $-197	+10% $-256
Rent	-10% $-254	-5% $-196	+0% $-138	+5% $-80	+10% $-23
Rate	-1.0pp $-53	-0.5pp $-95	base $-138	+0.5pp $-182	+1.0pp $-227

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: $42,498
• Closing costs: $5,100
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $118 · $1,416/yr

Listing history 18 events

1. 2026-05-04
   status Pending 694-char remark

   Show marketing remark (694 chars)

   The Oakridge Floor Plan - This single-level home showcases a spacious open floorplan shared between the kitchen, dining area and family room for easy entertaining during gatherings. An owner’s suite enjoys a private location in a rear corner of the home, complemented by an en-suite bathroom and walk-in closet. There are two secondary bedrooms along the side of the home, which are ideal for household members and hosting overnight guests. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly. Photos are for illustrative purposes​​‌​​​​‌​​‌‌​‌‌​​​‌‌​​‌​​​‌‌​​‌​ only.

2. 2026-04-30
   price $169,991 694-char remark

   Show marketing remark (694 chars)

   The Oakridge Floor Plan - This single-level home showcases a spacious open floorplan shared between the kitchen, dining area and family room for easy entertaining during gatherings. An owner’s suite enjoys a private location in a rear corner of the home, complemented by an en-suite bathroom and walk-in closet. There are two secondary bedrooms along the side of the home, which are ideal for household members and hosting overnight guests. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly. Photos are for illustrative purposes​​‌​​​​‌​​‌‌​‌‌​​​‌‌​​‌​​​‌‌​​‌​ only.

3. 2026-04-27
   price $172,990 694-char remark

   Show marketing remark (694 chars)

   The Oakridge Floor Plan - This single-level home showcases a spacious open floorplan shared between the kitchen, dining area and family room for easy entertaining during gatherings. An owner’s suite enjoys a private location in a rear corner of the home, complemented by an en-suite bathroom and walk-in closet. There are two secondary bedrooms along the side of the home, which are ideal for household members and hosting overnight guests. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly. Photos are for illustrative purposes​​‌​​​​‌​​‌‌​‌‌​​​‌‌​​‌​​​‌‌​​‌​ only.

4. 2026-04-20
   price $175,990 694-char remark

   Show marketing remark (694 chars)

   The Oakridge Floor Plan - This single-level home showcases a spacious open floorplan shared between the kitchen, dining area and family room for easy entertaining during gatherings. An owner’s suite enjoys a private location in a rear corner of the home, complemented by an en-suite bathroom and walk-in closet. There are two secondary bedrooms along the side of the home, which are ideal for household members and hosting overnight guests. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly. Photos are for illustrative purposes​​‌​​​​‌​​‌‌​‌‌​​​‌‌​​‌​​​‌‌​​‌​ only.

5. 2026-04-16
   price $178,990 694-char remark

   Show marketing remark (694 chars)

   The Oakridge Floor Plan - This single-level home showcases a spacious open floorplan shared between the kitchen, dining area and family room for easy entertaining during gatherings. An owner’s suite enjoys a private location in a rear corner of the home, complemented by an en-suite bathroom and walk-in closet. There are two secondary bedrooms along the side of the home, which are ideal for household members and hosting overnight guests. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly. Photos are for illustrative purposes​​‌​​​​‌​​‌‌​‌‌​​​‌‌​​‌​​​‌‌​​‌​ only.

6. 2026-04-13
   price $181,990 694-char remark

   Show marketing remark (694 chars)

   The Oakridge Floor Plan - This single-level home showcases a spacious open floorplan shared between the kitchen, dining area and family room for easy entertaining during gatherings. An owner’s suite enjoys a private location in a rear corner of the home, complemented by an en-suite bathroom and walk-in closet. There are two secondary bedrooms along the side of the home, which are ideal for household members and hosting overnight guests. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly. Photos are for illustrative purposes​​‌​​​​‌​​‌‌​‌‌​​​‌‌​​‌​​​‌‌​​‌​ only.

7. 2026-04-09
   price $184,990 694-char remark

   Show marketing remark (694 chars)

   The Oakridge Floor Plan - This single-level home showcases a spacious open floorplan shared between the kitchen, dining area and family room for easy entertaining during gatherings. An owner’s suite enjoys a private location in a rear corner of the home, complemented by an en-suite bathroom and walk-in closet. There are two secondary bedrooms along the side of the home, which are ideal for household members and hosting overnight guests. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly. Photos are for illustrative purposes​​‌​​​​‌​​‌‌​‌‌​​​‌‌​​‌​​​‌‌​​‌​ only.

8. 2026-04-02
   price $162,490 694-char remark

   Show marketing remark (694 chars)

   The Oakridge Floor Plan - This single-level home showcases a spacious open floorplan shared between the kitchen, dining area and family room for easy entertaining during gatherings. An owner’s suite enjoys a private location in a rear corner of the home, complemented by an en-suite bathroom and walk-in closet. There are two secondary bedrooms along the side of the home, which are ideal for household members and hosting overnight guests. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly. Photos are for illustrative purposes​​‌​​​​‌​​‌‌​‌‌​​​‌‌​​‌​​​‌‌​​‌​ only.

9. 2026-03-27
   price $165,690 694-char remark

   Show marketing remark (694 chars)

   The Oakridge Floor Plan - This single-level home showcases a spacious open floorplan shared between the kitchen, dining area and family room for easy entertaining during gatherings. An owner’s suite enjoys a private location in a rear corner of the home, complemented by an en-suite bathroom and walk-in closet. There are two secondary bedrooms along the side of the home, which are ideal for household members and hosting overnight guests. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly. Photos are for illustrative purposes​​‌​​​​‌​​‌‌​‌‌​​​‌‌​​‌​​​‌‌​​‌​ only.

10. 2026-03-24
    price $168,940 694-char remark

    Show marketing remark (694 chars)

    The Oakridge Floor Plan - This single-level home showcases a spacious open floorplan shared between the kitchen, dining area and family room for easy entertaining during gatherings. An owner’s suite enjoys a private location in a rear corner of the home, complemented by an en-suite bathroom and walk-in closet. There are two secondary bedrooms along the side of the home, which are ideal for household members and hosting overnight guests. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly. Photos are for illustrative purposes​​‌​​​​‌​​‌‌​‌‌​​​‌‌​​‌​​​‌‌​​‌​ only.

11. 2026-03-20
    price $172,190 694-char remark

    Show marketing remark (694 chars)

    The Oakridge Floor Plan - This single-level home showcases a spacious open floorplan shared between the kitchen, dining area and family room for easy entertaining during gatherings. An owner’s suite enjoys a private location in a rear corner of the home, complemented by an en-suite bathroom and walk-in closet. There are two secondary bedrooms along the side of the home, which are ideal for household members and hosting overnight guests. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly. Photos are for illustrative purposes​​‌​​​​‌​​‌‌​‌‌​​​‌‌​​‌​​​‌‌​​‌​ only.

12. 2026-03-16
    price $175,590 694-char remark

    Show marketing remark (694 chars)

    The Oakridge Floor Plan - This single-level home showcases a spacious open floorplan shared between the kitchen, dining area and family room for easy entertaining during gatherings. An owner’s suite enjoys a private location in a rear corner of the home, complemented by an en-suite bathroom and walk-in closet. There are two secondary bedrooms along the side of the home, which are ideal for household members and hosting overnight guests. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly. Photos are for illustrative purposes​​‌​​​​‌​​‌‌​‌‌​​​‌‌​​‌​​​‌‌​​‌​ only.

13. 2026-03-05
    price $178,990 694-char remark

    Show marketing remark (694 chars)

    The Oakridge Floor Plan - This single-level home showcases a spacious open floorplan shared between the kitchen, dining area and family room for easy entertaining during gatherings. An owner’s suite enjoys a private location in a rear corner of the home, complemented by an en-suite bathroom and walk-in closet. There are two secondary bedrooms along the side of the home, which are ideal for household members and hosting overnight guests. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly. Photos are for illustrative purposes​​‌​​​​‌​​‌‌​‌‌​​​‌‌​​‌​​​‌‌​​‌​ only.

14. 2026-02-25
    listed $159,000 Active 694-char remark

    Show marketing remark (694 chars)

    The Oakridge Floor Plan - This single-level home showcases a spacious open floorplan shared between the kitchen, dining area and family room for easy entertaining during gatherings. An owner’s suite enjoys a private location in a rear corner of the home, complemented by an en-suite bathroom and walk-in closet. There are two secondary bedrooms along the side of the home, which are ideal for household members and hosting overnight guests. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly. Photos are for illustrative purposes​​‌​​​​‌​​‌‌​‌‌​​​‌‌​​‌​​​‌‌​​‌​ only.

15. 2026-02-25
    historical

    Show marketing remark (694 chars)

    The Oakridge Floor Plan - This single-level home showcases a spacious open floorplan shared between the kitchen, dining area and family room for easy entertaining during gatherings. An owner’s suite enjoys a private location in a rear corner of the home, complemented by an en-suite bathroom and walk-in closet. There are two secondary bedrooms along the side of the home, which are ideal for household members and hosting overnight guests. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly. Photos are for illustrative purposes​​‌​​​​‌​​‌‌​‌‌​​​‌‌​​‌​​​‌‌​​‌​ only.

16. 2025-12-19
    price $159,000
17. 2025-12-13
    price $160,000
18. 2025-12-05
    listed $216,990 Active

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

Taxation est. · year 1

• Rental income: $17,538
• − Mortgage interest: −$9,522
• − Property taxes: −$2,550
• − Insurance: −$850
• − Repairs & maintenance: −$1,403
• − Management: −$1,403
• − HOA: −$1,416
• − Depreciation: −$4,945
• Taxable loss: −$4,551
• Est. tax savings @ 24.0%: +$1,092
• After-tax cash flow: $-566/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 · 1 photo

Good 80/100 Cosmetic rehab

This single-family home is in good condition with a good exterior and interior. It is ready for a fresh coat of paint and some landscaping improvements to further enhance its curb appeal and value.

Value-add opportunities

• Both Painting the exterior — Fresh paint can enhance curb appeal and property value.
• Both Landscaping improvements — Enhanced landscaping can improve curb appeal and attract more potential buyers or renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior — Fresh paint can enhance curb appeal and property value. ↑
• Both Landscaping improvements — Enhanced landscaping can improve curb appeal and attract more potential buyers or renters. ↑

ⓘ 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: Wharton ISD
• NCES district ID: 4845380
• Math proficiency: 28% ▼ -3.00%
• Reading proficiency: 31% ▬ 0.00%
• Median HH income: $38,558
• Composite: 24.69/100
• National rank: #7617
• State rank: #651 of 826 in TX

Livability — Wharton

• Score: 65/100
• State rank: #693
• US rank: #12966

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 14,129

Population outlook (Wharton County) Hauer SSP2

• Today (2025): 42,448 people
• By 2030: 42,726 · +0.7%
• By 2040: 43,042 · +1.4%
• By 2050: 43,368 · +2.2%
• By 2075: 44,962 · +5.9%
• By 2100: 44,510 · +4.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: Hispanic / Latino 38% White 36% Black 22% Two or more races 15% Asian 1%
• Hispanic origin (detail): Mexican 33% Puerto Rican 1%
• Common ancestry: Scottish 2% Danish 2% Serbian 2%
• Foreign-born: 7% · Canada
• Languages at home: 81% English-only · Spanish 17% Other Indo-European 1%

Political lean MEDSL · Wharton

• 2024 margin: Solid R (+51.8) · D 23.8% · R 75.6%
• 2008→2024 swing: -20.7pp toward R · 2008: -31.2pp · 2024: -51.8pp
• All cycles: 2024: R+51.8 2020: R+43.1 2016: R+40.2 2012: R+39.1 2008: R+31.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -63.29%
• Current HPI: 186.7798
• Rent YoY: —
• Metro: —
• 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

-21.7% since first listed

18 events — show timeline

• 2026-05-04 Pending — HARMLS
• 2026-04-30 Price Changed $169,991 HARMLS
• 2026-04-27 Price Changed $172,990 HARMLS
• 2026-04-20 Price Changed $175,990 HARMLS
• 2026-04-16 Price Changed $178,990 HARMLS
• 2026-04-13 Price Changed $181,990 HARMLS
• 2026-04-09 Price Changed $184,990 HARMLS
• 2026-04-02 Price Changed $162,490 HARMLS
• 2026-03-27 Price Changed $165,690 HARMLS
• 2026-03-24 Price Changed $168,940 HARMLS
• 2026-03-20 Price Changed $172,190 HARMLS
• 2026-03-16 Price Changed $175,590 HARMLS
• 2026-03-05 Price Changed $178,990 HARMLS
• 2026-02-25 Listing Removed — HARMLS
• 2026-02-25 Listed $159,000 HARMLS
• 2025-12-19 Price Changed $159,000 HARMLS
• 2025-12-13 Price Changed $160,000 HARMLS
• 2025-12-05 Listed $216,990 HARMLS