3114 10th St · Wichita Falls, TX 76309

$235,000

4 bd · 4.0 ba · 3,600 sqft · MultiFamily public records · 233 Days on market

Built 1926 Good condition 7,500 sqft lot $65/sqft · 23% below area Est $306k · 23% 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 232 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: $380/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 14.1% vs local median 4.8% 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); 225 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 47% 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 233 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 233 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: 1.66% ✓
• Cap rate: 14.05%
• Cash-on-cash: 27.72%
• DSCR: 2.23
• GRM: 5.0

CMA / ARV

• ARV (median comp): $306,268
• List price: $235,000
• Delta: -23.27%
• 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%)	5mo	$425,000	$118	60
2018 Berkeley Dr	1.60mi	4/3.5	3,498 (-3%)	2mo	$699,900	$200	56
6 Paluxy Cir	1.44mi	4/3.5	3,439 (-4%)	12mo	$575,000	$167	46
311 Morningside Dr	0.30mi	4/3.0	2,936 (-18%)	29mo	$319,995	$109	37
1309 Fillmore St	0.56mi	4/4.0	2,952 (-18%)	42mo	$210,000	$71	29
2311 Ellingham Dr	1.61mi	3/3.0 (-1)	2,657 (-26%)	4mo	$389,900	$147	28
1814 Turtle Creek Rd	2.03mi	5/3.0 (+1)	3,928 (+9%)	40mo	$439,900	$112	21
4208 Briar Cliff Dr	1.30mi	4/2.5	3,033 (-16%)	17mo	$379,900	$125	20
14 Waverly Pl	1.51mi	6/6.5 (+2)	4,598 (+28%)	1mo	$715,000	$156	19
4517 Shady Ln	1.84mi	4/3.0	2,666 (-26%)	22mo	$449,500	$169	18
4508 Hollow Ridge Dr	1.82mi	5/3.5 (+1)	3,145 (-13%)	27mo	$499,900	$159	17
1918 N 6th St Unit R	1.12mi	2/1.0 (-2)	2,640 (-27%)	4mo	$36,500	$14	17

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: 27.2%
• Equity multiple: 2.21×
• Total profit: $79,306
• Equity at exit: $35,039

10-year hold

• IRR: 37.6%
• Equity multiple: 5.37×
• Total profit: $287,387
• 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 →

Active competition Active MLS

• For sale now: 1 active
• Median asking: $209,000 ($69/sqft)
• Median days on market: 4 d
• This list price: 100% of active listings are priced below it
• ARV vs active asking: +23.2% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 76309

• Rents YoY: 8.3%
• Active inventory: 225
• Price-to-rent: 20.1×

Monthly cashflow live

• Estimated rent: $3,892 high
• Mortgage (P&I): −$1,232
• Tax from tax record: −$225 /mo · $2,694/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$817
• Net cashflow: $1,520

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$3,892
Total (4 units)			$3,892

Break-even live

Break-even rent $1,968

Max offer price $235,000

Occupancy floor 56%

Sensitivity live

Price	-10% $1,653	-5% $1,586	+0% $1,520	+5% $1,453	+10% $1,387
Rent	-10% $1,212	-5% $1,366	+0% $1,520	+5% $1,674	+10% $1,827
Rate	-1.0pp $1,638	-0.5pp $1,580	base $1,520	+0.5pp $1,459	+1.0pp $1,397

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
2906 9th St Wichita Falls, TX	3.0	1.0	1066	$950	$0.89	31d	1	0.20mi
3014 Seymour Rd Wichita Falls, TX	1.0	1.0	686	$825	$1.20	184d	1	0.27mi
3206 9th St Wichita Falls, TX	2.0	1.0	—	$1,175	—	184d	1	0.28mi
906 Grant St Unit 109 Wichita Falls, TX	1.0	1.0	900	$1,000	$1.11	10d	1	0.28mi
906 Grant St Wichita Falls, TX	1.0–2.0	1.0	1000	$1,000	$1.00	0d	2	0.28mi
1304 Kemp Blvd Wichita Falls, TX	3.0	1.5	1602	$1,250	$0.78	10d	1	0.43mi
2805 Avenue I Unit I Wichita Falls, TX	3.0	2.0	1150	$1,495	$1.30	10d	1	0.48mi
2805 Avenue I Unit I Wichita Falls, TX	3.0	2.0	1150	$1,495	$1.30	24d	1	0.48mi
1510 Fillmore St Wichita Falls, TX	1.0	1.0	—	$650	—	184d	1	0.51mi
1901 Wenonah Ave Unit B Wichita Falls, TX	2.0	1.0	946	$1,000	$1.06	184d	1	0.51mi
1515 Fillmore St Wichita Falls, TX	3.0	2.0	909	$1,225	$1.35	184d	1	0.54mi
2015 Harriet St Wichita Falls, TX	3.0	2.0	1500	$1,195	$0.80	10d	1	0.55mi
2015 Garfield St Wichita Falls, TX	1.0	1.0	700	$775	$1.11	33d	1	0.56mi
3006 Avenue K Unit A Wichita Falls, TX	1.0	1.0	1280	$650	$0.51	51d	1	0.57mi
3006 Avenue K Wichita Falls, TX	1.0	1.0	—	$595	—	184d	1	0.57mi
3006 Avenue K Wichita Falls, TX	1.0	1.0	—	$695	—	10d	1	0.57mi
1710 Fillmore St Unit 1710 Fillmore D Wichita Falls, TX	1.0	1.0	648	$625	$0.96	31d	1	0.57mi
1710 Fillmore St Apt C Wichita Falls, TX	1.0	1.0	648	$625	$0.96	184d	1	0.57mi
3006 Avenue K Unit D Wichita Falls, TX	1.0	1.0	—	$595	—	10d	1	0.57mi
504 Kemp Blvd Wichita Falls, TX	1.0	1.0	684	$895	$1.31	21d	1	0.57mi
504 Kemp Blvd Wichita Falls, TX	2.0	2.0	922	$1,095	$1.19	44d	1	0.57mi
1803 Fillmore St Unit a Wichita Falls, TX	3.0	2.0	876	$745	$0.85	35d	1	0.62mi
2003 Buchanan St Wichita Falls, TX	3.0	2.0	1118	$1,100	$0.98	184d	1	0.63mi
1307 Polk St Wichita Falls, TX	3.0	2.0	909	$899	$0.99	0d	1	0.67mi
1507 Polk St Wichita Falls, TX	2.0	1.0	—	$800	—	5d	1	0.67mi
2115 Tilden St Wichita Falls, TX	1.0	1.0	442	$595	$1.35	0d	1	0.67mi
504 Fillmore St Wichita Falls, TX	1.0–2.0	1.0	734	$895	$1.22	184d	6	0.68mi
1507 Polk St Wichita Falls, TX	3.0	1.0	1316	$1,050	$0.80	184d	1	0.69mi
1104 Polk St Wichita Falls, TX	1.0	1.0	—	$700	—	184d	1	0.69mi
1913 Fillmore St Wichita Falls, TX	2.0	1.0	—	$850	—	184d	1	0.70mi
2912 Avenue L Unit L Wichita Falls, TX	2.0	1.0	1104	$895	$0.81	184d	1	0.70mi
2304 10th St Wichita Falls, TX	3.0	2.0	1370	$1,100	$0.80	25d	1	0.72mi
2204 Tilden St Unit A Wichita Falls, TX	3.0	2.0	872	$930	$1.07	184d	1	0.74mi
2159 Avenue F Unit F Wichita Falls, TX	3.0	1.0	1000	$995	$0.99	19d	1	0.76mi
1710 Monroe St Wichita Falls, TX	2.0	1.0	1395	$1,050	$0.75	10d	1	0.77mi
1710 Monroe St Unit 1 Wichita Falls, TX	2.0	1.0	1395	$995	$0.71	7d	1	0.77mi
1813 Polk St Wichita Falls, TX	3.0	2.0	1090	$1,364	$1.25	184d	1	0.77mi
2215 8th St Wichita Falls, TX	3.0	2.0	1090	$1,035	$0.95	0d	1	0.77mi
2147 Avenue E Apt C Wichita Falls, TX	1.0	1.0	475	$550	$1.16	184d	1	0.78mi
2147 Avenue E Wichita Falls, TX	1.0	1.0	—	$650	—	184d	1	0.78mi

Listing history 50 events

1. 2026-10-02
   days on market $235,000 Active 233 DOM
2. 2026-10-01
   days on market $235,000 Active 232 DOM
3. 2026-09-30
   days on market $235,000 Active 231 DOM
4. 2026-09-29
   days on market $235,000 Active 230 DOM
5. 2026-09-28
   days on market $235,000 Active 229 DOM
6. 2026-09-27
   days on market $235,000 Active 228 DOM
7. 2026-09-26
   days on market $235,000 Active 227 DOM
8. 2026-09-25
   days on market $235,000 Active 226 DOM
9. 2026-09-24
   days on market $235,000 Active 225 DOM
10. 2026-09-24
    days on market $235,000 Active 224 DOM
11. 2026-09-22
    days on market $235,000 Active 223 DOM
12. 2026-09-21
    days on market $235,000 Active 222 DOM
13. 2026-09-20
    days on market $235,000 Active 221 DOM
14. 2026-09-18
    days on market $235,000 Active 219 DOM
15. 2026-09-17
    days on market $235,000 Active 218 DOM
16. 2026-09-16
    days on market $235,000 Active 217 DOM
17. 2026-09-15
    days on market $235,000 Active 216 DOM
18. 2026-09-14
    days on market $235,000 Active 215 DOM
19. 2026-09-13
    days on market $235,000 Active 214 DOM
20. 2026-09-12
    days on market $235,000 Active 213 DOM
21. 2026-09-11
    days on market $235,000 Active 212 DOM
22. 2026-09-05
    days on market $235,000 Active 206 DOM
23. 2026-09-04
    days on market $235,000 Active 205 DOM
24. 2026-09-03
    days on market $235,000 Active 204 DOM
25. 2026-09-02
    days on market $235,000 Active 203 DOM
26. 2026-08-30
    days on market $235,000 Active 200 DOM
27. 2026-08-29
    days on market $235,000 Active 199 DOM
28. 2026-08-28
    days on market $235,000 Active 198 DOM
29. 2026-08-27
    days on market $235,000 Active 197 DOM
30. 2026-08-25
    days on market $235,000 Active 195 DOM
31. 2026-08-23
    days on market $235,000 Active 193 DOM
32. 2026-08-22
    days on market $235,000 Active 192 DOM
33. 2026-08-21
    days on market $235,000 Active 191 DOM
34. 2026-08-20
    days on market $235,000 Active 190 DOM
35. 2026-08-19
    days on market $235,000 Active 189 DOM
36. 2026-08-18
    days on market $235,000 Active 188 DOM
37. 2026-08-17
    days on market $235,000 Active 187 DOM
38. 2026-08-16
    days on market $235,000 Active 186 DOM
39. 2026-08-15
    days on market $235,000 Active 185 DOM
40. 2026-08-15
    days on market $235,000 Active 184 DOM
41. 2026-08-13
    days on market $235,000 Active 183 DOM
42. 2026-08-12
    days on market $235,000 Active 182 DOM
43. 2026-08-11
    days on market $235,000 Active 181 DOM
44. 2026-08-10
    days on market $235,000 Active 180 DOM
45. 2026-08-09
    days on market $235,000 Active 179 DOM
46. 2026-08-08
    days on market $235,000 Active 178 DOM
47. 2026-08-07
    days on market $235,000 Active 177 DOM
48. 2026-08-06
    days on market $235,000 Active 176 DOM
49. 2026-08-05
    days on market $235,000 Active 175 DOM
50. 2026-08-04
    days on market $235,000 Active 174 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: $46,704
• − Mortgage interest: −$13,164
• − Property taxes: −$2,694
• − Insurance: −$1,175
• − Repairs & maintenance: −$3,736
• − Management: −$3,736
• − Depreciation: −$6,836
• Taxable income: $15,362
• Est. tax owed @ 24.0%: −$3,687
• After-tax cash flow: $14,552/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%
• 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.