1902 S Fannin St · Amarillo, TX 79109

$165,000

3 bd · 1.0 ba · 1,184 sqft · SingleFamily public records · 3 Days on market

Built 1950

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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).

• Cash flow +13.7/30.0
• ARV discount +7.5/15.0
• DSCR +4.2/10.0
• 1% rule +4.0/10.0
• Rent growth +3.8/5.0
• Schools +3.6/10.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor special!!! Needs finishing work. Cute 2 bedroom 1 bath home. Garage has been turned into a large utility room. good size living/dining combo, with nice hardwood floors in entry and dining. Glassed in front porch and some newer windows. Storage out back

Key facts

• Built 1950
• Listed 3 days

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; One level
• Construction: Wood siding; Pillar/Post/Pier foundation
• Exterior features: Zoned 0200 - SW Amarillo in city limits

Interior

• Kitchen: Oven; Range; Refrigerator; Dishwasher not listed
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central air conditioning; Natural gas heating
• Interior features: Washer/Dryer included; Oven; Range; Refrigerator
• Laundry & utility: Washer and dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $13 ($161/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 $149k (9.7% below list).
• Recommended offer: $149k (9.7% below list) — sets the bar for 1% rule.

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-, crime F, commute 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.
• Zoned schools: Bivins El (math 49% / reading 48%, grade D, #950 of 4,322 statewide, top 22%, 439 students, 76% FRL); Austin Middle (math 47% / reading 43%, grade D, #479 of 1,662 statewide, top 29%, 677 students, 63% FRL); Tascosa H S (math 36% / reading 45%, grade F, #798 of 1,632 statewide, top 49%, 2,187 students, 57% FRL).
• Market conditions: Rents rising fast (+5.2%/yr); 157 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 1,214 units permitted in Potter County in 2024 (650 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

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 13y 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

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $149,007 (9.7% below list)

Questions for the listing agent

1. Built in 1950 — 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. 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?
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: 0.90% ✗
• Cap rate: 6.39%
• Cash-on-cash: 0.35%
• DSCR: 1.02
• GRM: 9.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.24% rent growth · sell at horizon

5-year hold

• IRR: -13.2%
• Equity multiple: 0.51×
• Total profit: $-22,415
• Equity at exit: $24,602

10-year hold

• IRR: -1.0%
• Equity multiple: 0.92×
• Total profit: $-3,521
• Equity at exit: $14,266

Cash invested: $46,200 (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 79109

• Rents YoY: 5.2%
• Active inventory: 157
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,490 high
• Mortgage (P&I): −$865
• Tax from tax record: −$230 /mo · $2,757/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$313
• Net cashflow: $13

Break-even live

Break-even rent $1,473

Max offer price $165,000

Occupancy floor 94%

Sensitivity live

Price	-10% $107	-5% $60	+0% $13	+5% $-33	+10% $-80
Rent	-10% $-104	-5% $-45	+0% $13	+5% $72	+10% $131
Rate	-1.0pp $96	-0.5pp $55	base $13	+0.5pp $-29	+1.0pp $-73

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2030 Crockett St Amarillo, TX	3.0	1.5	1307	$1,750	$1.34	15d	1	0.28mi
2104 S Travis St Amarillo, TX	3.0	1.0	1236	$1,700	$1.38	23d	1	0.33mi
2103 Parker St Amarillo, TX	3.0	2.0	1306	$2,300	$1.76	23d	1	0.40mi
3118 SW 15th Ave Amarillo, TX	2.0–3.0	1.0–2.0	1015	$900	$0.89	15d	17	0.76mi
913 S Rusk St Amarillo, TX	3.0	2.0	1450	$1,450	$1.00	15d	1	0.87mi
3003 SW 27th Ave Amarillo, TX	2.0	1.5	808	$895	$1.11	15d	1	0.92mi
3005 SW 28th Ave Unit C Amarillo, TX	3.0	2.0	1480	$1,700	$1.15	15d	1	0.96mi
3110 SW 27th Ave Amarillo, TX	3.0	2.0	1470	$1,482	$1.01	23d	1	1.00mi
3110 SW 27th Ave Amarillo, TX	1.0–3.0	1.0–2.0	1085	$1,482	$1.37	15d	3	1.00mi
3019 W 28th Ave Amarillo, TX	1.0–2.0	1.0–2.0	795	$775	$0.97	45d	1	1.00mi
3001 Curtis Dr Unit A Amarillo, TX	2.0	1.0	713	$1,100	$1.54	23d	1	1.01mi
3007 Curtis Dr Unit B Amarillo, TX	2.0	1.0	750	$950	$1.27	45d	1	1.04mi
2601 Linda Cir Amarillo, TX	1.0–2.0	1.0	650	$1,045	$1.61	45d	1	1.04mi
1008 S Mississippi St Amarillo, TX	3.0	2.0	1061	$1,275	$1.20	23d	1	1.05mi
2306 SW 8th Ave Unit 2 Amarillo, TX	2.0	1.0	700	$950	$1.36	45d	1	1.08mi
802 S Kentucky St Amarillo, TX	2.0	1.0	970	$899	$0.93	45d	1	1.16mi
705 S Florida St Amarillo, TX	2.0	1.0	1014	$850	$0.84	23d	1	1.17mi
701 Sunset Ter Amarillo, TX	3.0	1.0	1444	$1,350	$0.93	45d	1	1.22mi
701 Sunset Ter Amarillo, TX	3.0	1.0	1444	$1,350	$0.93	23d	1	1.23mi
3500 Mockingbird Ln Amarillo, TX	1.0–3.0	1.0–2.0	834	$1,095	$1.31	23d	1	1.29mi
1809 Chama St Amarillo, TX	3.0	1.0	1396	$1,600	$1.15	45d	1	1.30mi
3205 S Tyler St Amarillo, TX	3.0	1.0	1381	$1,475	$1.07	15d	1	1.41mi
3703 S Monroe St Amarillo, TX	2.0	1.0	750	$1,100	$1.47	23d	1	1.49mi

Listing history 3 events

1. 2026-06-21
   days on market $165,000 Active 3 DOM
2. 2026-06-18
   remarks 265-char remark
3. 2026-06-18
   listed $165,000 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: $2,757 · $230/mo
• Projected year-2 tax: $3,020 · $252/mo
• Expected delta: +$263/yr (+$22/mo · 9.5%)

ⓘ 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 · 20 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: $17,881
• − Mortgage interest: −$9,243
• − Property taxes: −$2,757
• − Insurance: −$825
• − Repairs & maintenance: −$1,430
• − Management: −$1,430
• − Depreciation: −$4,800
• Taxable loss: −$2,605
• Est. tax savings @ 24.0%: +$625
• After-tax cash flow: $786/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: Randall County · 137,351 people
• City population: 185,802
• Metro: Amarillo, TX
• Population (ZIP): 43,578
• Household income: $70,435
• Rent vs Own: 42.2% rent · 57.8% own
• Severe rent burden: 1640.0

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: Predominantly White (70%)
• Race & ethnicity: White 70% Hispanic / Latino 19% Two or more races 12% Black 5%
• Hispanic origin (detail): Mexican 16%
• Common ancestry: Italian 3% Slovak 2% Lithuanian 2%
• Foreign-born: 4% · Canada
• Languages at home: 89% English-only · Spanish 9% Other Indo-European 1%

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: ▼ -227.95%
• Current HPI: 171.6795
• Rent YoY: ▲ 5.24%
• 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

+302.4% since first listed

5 events — show timeline

• 2026-06-16 Listed $165,000 AARMLS
• 2022-08-22 Sold (Public Records) — Public Records
• 2019-03-29 Sold (Public Records) — Public Records
• 2014-01-09 Sold (MLS) — AARMLS
• 2013-11-08 Listed $41,000 AARMLS

Property tax history

+6.9%/yr

Latest (2025): $2,757 · +9.3% YoY. Source: county tax records.