1223 SW 16th Ave · Amarillo, TX 79102

$136,000

3 bd · 2.0 ba · 1,512 sqft · MultiFamily public records · 20 Days on market

Built 1935 8,288 sqft lot ↓ 9% since listing

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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 +22.6/30.0
• ARV discount +7.5/15.0
• DSCR +7.2/10.0
• 1% rule +6.1/10.0
• Schools +3.6/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Investor Opportunity! This property is part of a 5-door, 4-property investment portfolio, all currently tenant-occupied with strong rental history and solid rent rolls. Properties may be purchased individually or as a package. This duplex features a 1-bedroom, 1-bath unit and a 2-bedroom, 1-bath unit, both currently leased and producing income. Unit A has undergone cosmetic updates and new windows. Unit B received new flooring prior to the current tenant's occupancy, fresh paint and doors. The roof was replaced in 2022. A great opportunity to add a cash-flowing property to your investment portfolio. Schedule your showing today!

Key facts

• Fresh paint
• New doors
• New flooring

Tags

• COSMETIC UPDATES
• NEW WINDOWS
• NEW FLOORING
• FRESH PAINT
• NEW DOORS
• ROOF REPLACED

Property features AI

Exterior

• Parking: Detached 2-car garage
• Home design: Single-family residential property; Located in NW Amarillo city limits (zoning 0100)
• Exterior features: Lot approximately 59.2 x 140 feet

Interior

• Bathrooms: 2 full bathrooms
• Interior features: Directions: south north off Washington, then left on SW 16th

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $136k.

Deal economics

• At list price, monthly cash flow is $230 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $136k).
• Recommended offer: $134k (1.5% below list) — sets the bar for market timing.

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: 37 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 1,214 units permitted in Potter County in 2024 (650 in 5+ unit buildings).
• This rent runs 36% of the median local income ($51k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $940 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($134k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $133,960 (1.5% below list)

Questions for the listing agent

1. Built in 1935 — 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 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.11% ✓
• Cap rate: 8.32%
• Cash-on-cash: 7.26%
• DSCR: 1.32
• GRM: 7.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -5.2%
• Equity multiple: 0.81×
• Total profit: $-7,333
• Equity at exit: $20,278

10-year hold

• IRR: 4.5%
• Equity multiple: 1.33×
• Total profit: $12,659
• Equity at exit: $11,759

Cash invested: $38,080 (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 79102

• Home prices YoY: -33.0%
• Active inventory: 37
• Price-to-rent: 15.5×

Monthly cashflow live

• Estimated rent: $1,515 high
• Mortgage (P&I): −$713
• Tax from tax record: −$197 /mo · $2,361/yr
• Insurance: −$57
• HOA: −$0
• Vacancy / Maint / Mgmt: −$318
• Net cashflow: $230

Break-even live

Break-even rent $1,224

Max offer price $136,000

Occupancy floor 80%

Sensitivity live

Price	-10% $307	-5% $269	+0% $230	+5% $192	+10% $153
Rent	-10% $111	-5% $170	+0% $230	+5% $290	+10% $350
Rate	-1.0pp $299	-0.5pp $265	base $230	+0.5pp $195	+1.0pp $159

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
1× unit	1	1	$733
1× unit	2	1	$782
Total (2 units)			$1,515

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: $34,000
• Closing costs: $4,080
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2103 Parker St Amarillo, TX	3.0	2.0	1306	$2,300	$1.76	22d	1	0.52mi
2108 S Hayden St Amarillo, TX	4.0	3.0	1951	$2,399	$1.23	22d	1	0.53mi
2104 S Travis St Amarillo, TX	3.0	1.0	1236	$1,700	$1.38	22d	1	0.56mi
2030 Crockett St Amarillo, TX	3.0	1.5	1307	$1,750	$1.34	14d	1	0.64mi
913 S Rusk St Amarillo, TX	3.0	2.0	1450	$1,450	$1.00	14d	1	0.84mi
2709 S Van Buren St Unit 1 Amarillo, TX	3.0	2.0	1787	$2,100	$1.18	14d	1	1.05mi
3118 SW 15th Ave Amarillo, TX	2.0–3.0	1.0–2.0	1015	$900	$0.89	14d	17	1.09mi
3101 S Van Buren St Amarillo, TX	3.0	2.0	1922	$2,300	$1.20	14d	1	1.24mi
1008 S Mississippi St Amarillo, TX	3.0	2.0	1061	$1,275	$1.20	22d	1	1.30mi
3205 S Tyler St Amarillo, TX	3.0	1.0	1381	$1,475	$1.07	14d	1	1.38mi
302 N Madison St Amarillo, TX	3.0	2.0	2200	$1,500	$0.68	45d	1	1.43mi
3005 SW 28th Ave Unit C Amarillo, TX	3.0	2.0	1480	$1,700	$1.15	14d	1	1.47mi

Listing history 14 events

1. 2026-06-21
   days on market $136,000 Active 20 DOM
2. 2026-06-18
   days on market $136,000 Active 17 DOM
3. 2026-06-17
   days on market $136,000 Active 16 DOM
4. 2026-06-16
   days on market $136,000 Active 15 DOM
5. 2026-06-15
   days on market $136,000 Active 14 DOM
6. 2026-06-14
   days on market $136,000 Active 12 DOM
7. 2026-06-13
   days on market $136,000 Active 11 DOM
8. 2026-06-10
   days on market $136,000 Active 9 DOM
9. 2026-06-09
   days on market $136,000 Active 8 DOM
10. 2026-06-08
    days on market $136,000 Active 7 DOM
11. 2026-06-07
    days on market $136,000 Active 6 DOM
12. 2026-06-03
    days on market $136,000 Active 2 DOM
13. 2026-06-02
    remarks 638-char remark
14. 2026-06-02
    listed $136,000 Active 1 DOM

ⓘ 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: $2,361 · $197/mo
• Projected year-2 tax: $2,489 · $207/mo
• Expected delta: +$128/yr (+$11/mo · 5.4%)

ⓘ 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 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥97°F today · 19 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: $18,180
• − Mortgage interest: −$7,618
• − Property taxes: −$2,361
• − Insurance: −$680
• − Repairs & maintenance: −$1,454
• − Management: −$1,454
• − Depreciation: −$3,956
• Taxable income: $656
• Est. tax owed @ 24.0%: −$157
• After-tax cash flow: $2,606/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): 9,393
• Household income: $51,125
• Rent vs Own: 50.9% rent · 49.1% own
• Severe rent burden: 487.0

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 50% Hispanic / Latino 40% Two or more races 15% Asian 4% Black 3% Native American 1%
• Hispanic origin (detail): Mexican 31%
• Common ancestry: Italian 3% Slovak 1% Lithuanian 1%
• Foreign-born: 10% · Canada, Philippines
• Languages at home: 77% English-only · Spanish 21% Other Asian/Pacific 2%

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: ▼ -86.43%
• Current HPI: 175.582
• Rent YoY: —
• 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

-9.3% since first listed

11 events — show timeline

• 2026-06-01 Listed $136,000 AARMLS
• 2024-11-01 Price Changed $130,000 AARMLS
• 2024-11-01 Price Changed $130,000 AARMLS
• 2024-09-27 Price Changed $140,000 AARMLS
• 2024-09-27 Price Changed $140,000 AARMLS
• 2024-07-29 Price Changed $150,000 AARMLS
• 2024-07-29 Price Changed $150,000 AARMLS
• 2017-10-24 Sold (Public Records) — Public Records
• 2017-10-17 Sold (Public Records) — Public Records
• 2010-08-16 Sold (Public Records) — Public Records
• 1993-07-20 Sold (MLS) — AARMLS

Property tax history

+5.4%/yr

Latest (2025): $2,361 · +4.1% YoY. Source: county tax records.