3114 10th St · Wichita Falls, TX 76309

$235,000

4 bd · 4.0 ba · 3,600 sqft · MultiFamily public records · 178 Days on market

Built 1926 Good condition 7,500 sqft lot $65/sqft · 24% below area Est $308k · 24% under

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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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.6/5.0
• Condition / age +3.8/5.0
• Livability +3.5/5.0
• Schools +2.7/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks MLS

Great fourplex in historic Floral Heights West neighborhood with two units on the first floor and two on the second. . MUST HAVE CONFIRMED APPTS AND 24 HOUR NOTICE FOR SHOWINGS. New roof 2025; all units have been redone inside. .. having entire building rewired to meet code; will finish remodle in unit 4 unless you want to; state on the offer.

Key facts

• 7,500 sq ft lot
• 4 parking spots
• Listed 177 days

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1-bath units multifamily listed at $235k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $2k ($18k/yr) — positive. Per door: $385/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $235k).
• Recommended offer: $207k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.2% vs local median 4.5% 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 (+8.3%/yr); 178 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals lingering (median 93d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $2k of loan paydown is wiped out by about $7k 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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $66k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 178 days — a 12% lower offer ($207k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y 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 1926 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $206,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 178 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1926 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.67% ✓
• Cap rate: 14.15%
• Cash-on-cash: 28.08%
• DSCR: 2.25
• GRM: 5.0

CMA / ARV

• ARV (median comp): $308,390
• List price: $235,000
• Delta: -23.80%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2304 Irving Pl	1.96mi	4/4.0	3,615 (+0%)	2mo	$425,000	$118	63
6 Paluxy Cir	1.44mi	4/3.5	3,439 (-4%)	9mo	$575,000	$167	48
311 Morningside Dr	0.30mi	4/3.0	2,936 (-18%)	26mo	$319,995	$109	37
2311 Ellingham Dr	1.61mi	3/3.0 (-1)	2,657 (-26%)	1mo	$389,900	$147	30
1309 Fillmore St	0.56mi	4/4.0	2,952 (-18%)	39mo	$210,000	$71	29
4208 Briar Cliff Dr	1.30mi	4/2.5	3,033 (-16%)	14mo	$379,900	$125	22
1814 Turtle Creek Rd	2.03mi	5/3.0 (+1)	3,928 (+9%)	36mo	$439,900	$112	21
4517 Shady Ln	1.84mi	4/3.0	2,666 (-26%)	19mo	$449,500	$169	20
1918 N 6th St Unit R	1.12mi	2/1.0 (-2)	2,640 (-27%)	1mo	$36,500	$14	19
4508 Hollow Ridge Dr	1.82mi	5/3.5 (+1)	3,145 (-13%)	24mo	$499,900	$159	17
2308 Farington	1.65mi	4/3.0	3,062 (-15%)	45mo	$519,900	$170	16
2103 Hiawatha Blvd	0.75mi	3/3.0 (-1)	2,951 (-18%)	42mo	$429,900	$146	11

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 27.7%
• Equity multiple: 2.23×
• Total profit: $80,697
• Equity at exit: $35,039

10-year hold

• IRR: 38.0%
• Equity multiple: 5.42×
• Total profit: $290,820
• Equity at exit: $20,319

Cash invested: $65,800 (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 76309

• Rents YoY: 8.3%
• Active inventory: 178
• Price-to-rent: 20.0×

Monthly cashflow live

• Estimated rent: $3,917 high
• Mortgage (P&I): −$1,232
• Tax from tax record: −$225 /mo · $2,694/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$823
• Net cashflow: $1,540

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$3,916
Total (4 units)			$3,917

Break-even live

Break-even rent $1,968

Max offer price $235,000

Occupancy floor 56%

Sensitivity live

Price	-10% $1,673	-5% $1,606	+0% $1,540	+5% $1,473	+10% $1,407
Rent	-10% $1,230	-5% $1,385	+0% $1,540	+5% $1,694	+10% $1,849
Rate	-1.0pp $1,658	-0.5pp $1,599	base $1,540	+0.5pp $1,479	+1.0pp $1,417

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: $58,750
• Closing costs: $7,050
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3014 Seymour Rd Wichita Falls, TX	1.0	1.0	686	$825	$1.20	93d	1	0.27mi
3206 9th St Wichita Falls, TX	2.0	1.0	—	$1,175	—	93d	1	0.28mi
1510 Fillmore St Wichita Falls, TX	1.0	1.0	—	$650	—	93d	1	0.51mi
1901 Wenonah Ave Unit B Wichita Falls, TX	2.0	1.0	946	$1,000	$1.06	93d	1	0.51mi
1515 Fillmore St Wichita Falls, TX	3.0	2.0	909	$1,225	$1.35	93d	1	0.54mi
3006 Avenue K Wichita Falls, TX	1.0	1.0	—	$595	—	93d	1	0.57mi
1710 Fillmore St Apt C Wichita Falls, TX	1.0	1.0	648	$625	$0.96	93d	1	0.57mi
2003 Buchanan St Wichita Falls, TX	3.0	2.0	1118	$1,100	$0.98	93d	1	0.63mi
504 Fillmore St Wichita Falls, TX	1.0–2.0	1.0	734	$895	$1.22	93d	6	0.68mi
1507 Polk St Wichita Falls, TX	3.0	1.0	1316	$1,050	$0.80	93d	1	0.69mi
1104 Polk St Wichita Falls, TX	1.0	1.0	—	$700	—	93d	1	0.69mi
1913 Fillmore St Wichita Falls, TX	2.0	1.0	—	$850	—	93d	1	0.70mi
2912 Avenue L Unit L Wichita Falls, TX	2.0	1.0	1104	$895	$0.81	93d	1	0.70mi
2204 Tilden St Unit A Wichita Falls, TX	3.0	2.0	872	$930	$1.07	93d	1	0.74mi
1813 Polk St Wichita Falls, TX	3.0	2.0	1090	$1,364	$1.25	93d	1	0.77mi
2147 Avenue E Apt C Wichita Falls, TX	1.0	1.0	475	$550	$1.16	93d	1	0.78mi
2147 Avenue E Wichita Falls, TX	1.0	1.0	—	$650	—	93d	1	0.78mi
1303 Bell St Wichita Falls, TX	1.0	1.0	—	$575	—	93d	1	0.79mi
1303 Bell St Unit 5 Wichita Falls, TX	2.0	1.0	—	$675	—	93d	1	0.79mi
2215 Roberts Ave Wichita Falls, TX	2.0	1.0	—	$850	—	93d	1	0.80mi
2113 Fillmore St Wichita Falls, TX	1.0	1.0	—	$725	—	93d	1	0.83mi
2304 Avenue K Wichita Falls, TX	3.0	2.0	1040	$1,050	$1.01	93d	1	0.84mi
1301 Giddings St Wichita Falls, TX	3.0	1.0	1000	$1,150	$1.15	93d	1	0.85mi
1611 Bell St Unit G Wichita Falls, TX	1.0	1.0	—	$750	—	93d	1	0.89mi
2316 Buchanan St Wichita Falls, TX	1.0	1.0	—	$695	—	93d	1	0.91mi
2007 10th St Unit B Wichita Falls, TX	1.0	1.0	744	$750	$1.01	93d	1	0.97mi
2202 Monroe St Rear Rear Wichita Falls, TX	1.0	1.0	484	$695	$1.44	93d	1	0.98mi
1604 Harrison St Wichita Falls, TX	1.0	1.0	360	$625	$1.74	93d	1	1.04mi
2500 Taylor St Unit 2500 Taylor A Wichita Falls, TX	2.0	1.0	910	$800	$0.88	93d	1	1.05mi
2006 Bell St Wichita Falls, TX	3.0	1.0	1120	$1,000	$0.89	93d	1	1.06mi
1901 Giddings St Wichita Falls, TX	3.0	2.0	909	$1,175	$1.29	93d	1	1.07mi
1916 7th St Wichita Falls, TX	2.0	1.0	1226	$1,050	$0.86	93d	1	1.08mi
3706 Seymour Rd Wichita Falls, TX	1.0–3.0	1.0–2.5	1100	$1,188	$1.08	93d	13	1.09mi
2130 Avenue K Wichita Falls, TX	3.0	2.0	1090	$1,390	$1.28	93d	1	1.10mi
1821 9th St Unit B Wichita Falls, TX	2.0	1.0	1200	$795	$0.66	93d	1	1.16mi
2812 Avenue R Unit R Wichita Falls, TX	2.0	1.0	1044	$925	$0.89	93d	1	1.19mi
1824 Collins Ave Wichita Falls, TX	1.0	1.0	750	$795	$1.06	93d	1	1.19mi
2003 Wilson Ave Unit 1/2 Wichita Falls, TX	1.0	1.0	680	$650	$0.96	93d	1	1.20mi
1810 7th St Unit 1/2 Wichita Falls, TX	2.0	1.0	806	$775	$0.96	93d	1	1.24mi
704 Baylor St Wichita Falls, TX	1.0	1.0	—	$575	—	93d	1	1.28mi

Listing history 50 events

1. 2026-08-08
   days on market $235,000 Active 178 DOM
2. 2026-08-07
   days on market $235,000 Active 177 DOM
3. 2026-08-06
   days on market $235,000 Active 176 DOM
4. 2026-08-05
   days on market $235,000 Active 175 DOM
5. 2026-08-04
   days on market $235,000 Active 174 DOM
6. 2026-08-03
   days on market $235,000 Active 173 DOM
7. 2026-07-31
   days on market $235,000 Active 170 DOM
8. 2026-07-30
   days on market $235,000 Active 169 DOM
9. 2026-07-29
   days on market $235,000 Active 168 DOM
10. 2026-07-27
    days on market $235,000 Active 166 DOM
11. 2026-07-25
    days on market $235,000 Active 164 DOM
12. 2026-07-23
    days on market $235,000 Active 162 DOM
13. 2026-07-22
    days on market $235,000 Active 161 DOM
14. 2026-07-21
    days on market $235,000 Active 160 DOM
15. 2026-07-18
    days on market $235,000 Active 157 DOM
16. 2026-07-16
    days on market $235,000 Active 155 DOM
17. 2026-07-16
    days on market $235,000 Active 154 DOM
18. 2026-07-14
    days on market $235,000 Active 153 DOM
19. 2026-07-13
    days on market $235,000 Active 152 DOM
20. 2026-07-12
    days on market $235,000 Active 151 DOM
21. 2026-07-11
    days on market $235,000 Active 150 DOM
22. 2026-07-10
    days on market $235,000 Active 149 DOM
23. 2026-07-09
    days on market $235,000 Active 148 DOM
24. 2026-07-08
    days on market $235,000 Active 147 DOM
25. 2026-07-07
    days on market $235,000 Active 146 DOM
26. 2026-07-06
    days on market $235,000 Active 145 DOM
27. 2026-07-05
    days on market $235,000 Active 144 DOM
28. 2026-07-04
    days on market $235,000 Active 143 DOM
29. 2026-07-03
    days on market $235,000 Active 142 DOM
30. 2026-07-02
    days on market $235,000 Active 141 DOM
31. 2026-07-01
    days on market $235,000 Active 140 DOM
32. 2026-06-30
    days on market $235,000 Active 139 DOM
33. 2026-06-29
    days on market $235,000 Active 138 DOM
34. 2026-06-28
    days on market $235,000 Active 137 DOM
35. 2026-06-28
    days on market $235,000 Active 136 DOM
36. 2026-06-27
    days on market $235,000 Active 135 DOM
37. 2026-06-26
    days on market $235,000 Active 134 DOM
38. 2026-06-23
    days on market $235,000 Active 131 DOM
39. 2026-06-22
    days on market $235,000 Active 130 DOM
40. 2026-06-19
    days on market $235,000 Active 128 DOM
41. 2026-06-18
    days on market $235,000 Active 127 DOM
42. 2026-06-17
    days on market $235,000 Active 126 DOM
43. 2026-06-16
    days on market $235,000 Active 125 DOM
44. 2026-06-15
    days on market $235,000 Active 124 DOM
45. 2026-06-14
    days on market $235,000 Active 122 DOM
46. 2026-06-13
    days on market $235,000 Active 121 DOM
47. 2026-06-10
    days on market $235,000 Active 119 DOM
48. 2026-06-09
    days on market $235,000 Active 118 DOM
49. 2026-06-08
    days on market $235,000 Active 117 DOM
50. 2026-06-07
    days on market $235,000 Active 116 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: $2,694 · $225/mo
• Projected year-2 tax: $4,300 · $358/mo
• Expected delta: +$1,606/yr (+$134/mo · 59.6%)

ⓘ 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 3/10 Moderate
• 🌡 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: $47,004
• − Mortgage interest: −$13,164
• − Property taxes: −$2,694
• − Insurance: −$1,175
• − Repairs & maintenance: −$3,760
• − Management: −$3,760
• − Depreciation: −$6,836
• Taxable income: $15,614
• Est. tax owed @ 24.0%: −$3,747
• After-tax cash flow: $14,728/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 · 10 photos

Good 75/100 Cosmetic rehab Est. rehab $18,000–$54,000 screening

This fourplex is in good condition with a new roof and recently updated interiors. It offers a good investment opportunity with potential for cosmetic improvements to enhance its curb appeal and interior aesthetics.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance the curb appeal and interior aesthetics, making the property more attractive to potential buyers and renters. ↑
• Both Updating the kitchen appliances — Modernizing the kitchen with new appliances can improve the overall look and functionality of the property, attracting more buyers and renters. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

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

C Composite livability gradescore 69/100

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 · 129,638 people
• City population: 95,694
• Metro: Wichita Falls, TX
• Population (ZIP): 13,395
• Household income: $54,159
• Rent vs Own: 42.7% rent · 57.3% own
• Severe rent burden: 8% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 58% Hispanic / Latino 29% Two or more races 12% Black 6% Asian 2% Native American 2%
• Hispanic origin (detail): Mexican 27%
• Common ancestry: Lithuanian 1% Romanian 1% Portuguese 1%
• Foreign-born: 7% · Canada, Vietnam, Jamaica
• Languages at home: 82% English-only · Spanish 15% Vietnamese 1% French/Haitian/Cajun 1%

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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: ▼ -88.35%
• Current HPI: 137.2935
• Rent YoY: ▲ 8.33%
• Metro: Wichita Falls, TX
• State GDP YoY: ▲ 3.95%
• F500 in state: 110

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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

+240.6% since first listed

5 events — show timeline

• 2026-02-11 Listed $235,000 WFAOR
• 2019-04-17 Sold (MLS) — WFAOR
• 2019-04-16 Sold (Public Records) — Public Records
• 2019-02-27 Listed $69,000 WFAOR
• 2006-03-17 Sold (Public Records) — Public Records

Property tax history

+5.3%/yr

Latest (2025): $2,694 · -1.4% YoY. Source: county tax records.