606 E Washington Ave · Iowa Park, TX 76367

$127,500

2 bd · 1.0 ba · 952 sqft · SingleFamily public records · 50 Days on market

Built 1940 $134/sqft · 9% below area Est $140k · 9% under ↓ 2% since listing

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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 +26.8/30.0
• ARV discount +11.5/15.0
• Appreciation +10.0/10.0
• DSCR +9.2/10.0
• 1% rule +6.6/10.0
• Schools +4.6/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Affordable, almost fully remodeled home in Iowa Park CISD on a double lot with extra water meter! Features vinyl flooring, new cabinets, kitchen with breakfast area, 2 beds, 1 bath, and full-size laundry that can double as office. Updates include new HVAC, all new electrical throughout, new plumbing throughout, new roof, windows, and electric water heater. Larger front bedroom, 2-car carport, & additional concrete slab.   Move in ready and easy access to Hwy 287.

Key facts

• Fully remodeled home
• Vinyl flooring
• Double lot

Tags

• FULLY REMODELED HOME
• DOUBLE LOT
• EXTRA WATER METER
• VINYL FLOORING
• NEW CABINETS
• KITCHEN WITH BREAKFAST AREA

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story; South-facing
• Construction: Asbestos construction material
• Exterior features: Composition roof

Interior

• Flooring: Tile flooring
• Heating & cooling: Central heating (natural gas); Central air conditioning
• Interior features: Eat-in kitchen

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $128k.

Deal economics

• At list price, monthly cash flow is $-77 ($-918/yr) — negative.
• To cash-flow at today's rent, offer at most $114k (10.6% below list).
• Meets the 1% rule at list price ($1k rent vs $128k).
• Recommended offer: $114k (10.6% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 72/100 on livability (#272 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• Iowa Park CISD (town): math 57% / reading 49% proficiency, ranked #129 of 826 in TX (top 16%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Bradford El (math 58% / reading 51%, grade C, #621 of 4,322 statewide, top 15%, 447 students, 46% FRL); Iowa Park Jjaep (1 students, 0% FRL); Iowa Park H S (math 72% / reading 67%, grade B, #119 of 1,632 statewide, top 9%, 544 students, 34% FRL).
• Market conditions: 63 active listings in the ZIP; 231 units permitted in Wichita County in 2024 (10 in 5+ unit buildings).

Forward outlook

• In year one you build about $14k of equity ($882 loan paydown + $13k appreciation (10.0% local appreciation)).
• Wichita County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($124k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wildfire risk; extreme-heat days projected 6→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $113,985 (10.6% 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 50 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
3. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. 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: 1.16% ✓
• Cap rate: 9.59%
• Cash-on-cash: 11.77%
• DSCR: 1.52
• GRM: 7.2

CMA / ARV

• ARV (median comp): $139,870
• List price: $127,500
• Delta: -8.84%
• Verdict: FAIR
• Comps: 4 within 2.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 22.5%
• Equity multiple: 2.82×
• Total profit: $64,812
• Equity at exit: $114,862

10-year hold

• IRR: 20.2%
• Equity multiple: 6.47×
• Total profit: $195,180
• Equity at exit: $247,704

Cash invested: $35,700 (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 76367

• Home prices YoY: 6.7%
• Active inventory: 63
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,477 medium
• Mortgage (P&I): −$669
• Tax from tax record: −$95 /mo · $1,142/yr
• Insurance: −$53
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$310
• Net cashflow: $-77

Break-even live

Break-even rent $1,574

Max offer price $113,985

Occupancy floor —

Sensitivity live

Price	-10% $-4	-5% $-40	+0% $-77	+5% $-113	+10% $-149
Rent	-10% $-193	-5% $-135	+0% $-77	+5% $-18	+10% $40
Rate	-1.0pp $-12	-0.5pp $-44	base $-77	+0.5pp $-110	+1.0pp $-143

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: $31,875
• Closing costs: $3,825
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-19
   days on market $127,500 Active 50 DOM
2. 2026-06-18
   days on market $127,500 Active 49 DOM
3. 2026-06-17
   days on market $127,500 Active 48 DOM
4. 2026-06-16
   days on market $127,500 Active 47 DOM
5. 2026-06-15
   days on market $127,500 Active 46 DOM
6. 2026-06-14
   days on market $127,500 Active 44 DOM
7. 2026-06-13
   days on market $127,500 Active 43 DOM
8. 2026-06-10
   days on market $127,500 Active 41 DOM
9. 2026-06-09
   days on market $127,500 Active 40 DOM
10. 2026-06-08
    days on market $127,500 Active 39 DOM
11. 2026-06-07
    days on market $127,500 Active 38 DOM
12. 2026-06-03
    days on market $127,500 Active 34 DOM
13. 2026-06-02
    days on market $127,500 Active 33 DOM
14. 2026-06-01
    days on market $127,500 Active 32 DOM
15. 2026-05-31
    pricedays on market $127,500 Active 31 DOM
16. 2026-05-30
    days on market $127,900 Active 30 DOM
17. 2026-04-29
    listed $129,900 Active 477-char remark
18. 2006-12-15
    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: $1,142 · $95/mo
• Projected year-2 tax: $2,333 · $194/mo
• Expected delta: +$1,192/yr (+$99/mo · 104.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone AE · 22% chance over 30 yrs
• 🔥 Wildfire 8/10 Severe
• 🌡 Heat 7/10 Severe 6 d/yr ≥110°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 10% 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: $17,725
• − Mortgage interest: −$7,142
• − Property taxes: −$1,142
• − Insurance: −$5,756
• − Repairs & maintenance: −$1,418
• − Management: −$1,418
• − Depreciation: −$3,709
• Taxable loss: −$2,859
• Est. tax savings @ 24.0%: +$686
• After-tax cash flow: $-232/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: Iowa Park CISD
• NCES district ID: 4824260
• Math proficiency: 57% ▼ -1.00%
• Reading proficiency: 49% ▼ -4.00%
• Median HH income: $52,689
• Composite: 45.57/100
• National rank: #2597
• State rank: #129 of 826 in TX

Livability — Iowa Park

• Score: 72/100
• State rank: #272
• US rank: #6350

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Iowa Park, TX
• City population: 14,013
• Population (ZIP): 14,013

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 16% Black 10% Two or more races 8% Asian 1% Native American 1%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Lithuanian 1% Portuguese 1% Slovak 1%
• Foreign-born: 4% · Canada, Vietnam
• Languages at home: 93% English-only · Spanish 6%

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: ▲ 24.29%
• Current HPI: 387.78
• 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

-1.8% since first listed

4 events — show timeline

• 2026-05-31 Price Changed $127,500 WFAOR
• 2026-05-28 Price Changed $127,900 WFAOR
• 2026-04-29 Listed $129,900 WFAOR
• 2006-12-15 Sold (Public Records) — Public Records

Property tax history

+6.6%/yr

Latest (2025): $1,142 · +39.1% YoY. Source: county tax records.