4318 Barnett Dr · Wichita Falls, TX 76308

$169,000

3 bd · 2.0 ba · 1,441 sqft · SingleFamily public records · 56 Days on market

Built 1965 $117/sqft · 14% below area Est $195k · 14% under ↓ 8% since listing

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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).

• ARV discount +13.6/15.0
• Cash flow +9.2/30.0
• Livability +3.5/5.0
• Rent growth +3.4/5.0
• 1% rule +3.2/10.0
• Schools +2.7/10.0
• DSCR +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Completely remodeled 3-bedroom, 2-bath home featuring a formal dining room plus a breakfast area off the kitchen. Updates include new HVAC system, new vinyl plank flooring, fresh paint, new cabinets, appliances, and new privacy fence. The backyard offers a storm shelter and a huge, detached building that was an apartment. It is ready to be transformed into guest quarters, game room, workshop, or storage. A must see with endless possibilities.

Key facts

• Remodeled
• Formal dining room
• Fresh paint

Tags

• REMODELED
• FORMAL DINING ROOM
• BREAKFAST AREA
• NEW HVAC SYSTEM
• NEW VINYL PLANK FLOORING
• FRESH PAINT

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $169k.

Deal economics

• At list price, monthly cash flow is $-127 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $147k (13.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $138k (18.1% below list).
• Recommended offer: $138k (18.1% below list) — sets the bar for 1% rule.

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 (+3.8%/yr); 130 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 44d 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 $1k of loan paydown is wiped out by about $5k 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.

Negotiation context

• It's been on market 56 days — a 3% lower offer ($164k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $138,454 (18.1% 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 56 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
3. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.82% ✗
• Cap rate: 5.39%
• Cash-on-cash: -3.22%
• DSCR: 0.86
• GRM: 10.2

CMA / ARV

• ARV (median comp): $195,475
• List price: $169,000
• Delta: -13.54%
• Verdict: UNDERPRICED
• Comps: 14 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4114 Lavell Ave	0.70mi	3/2.0	1,578 (+10%)	14mo	$195,000	$124	40

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 · 3.77% rent growth · sell at horizon

5-year hold

• IRR: -20.7%
• Equity multiple: 0.27×
• Total profit: $-34,337
• Equity at exit: $25,198

10-year hold

• IRR: -12.3%
• Equity multiple: 0.25×
• Total profit: $-35,590
• Equity at exit: $14,612

Cash invested: $47,320 (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 76308

• Rents YoY: 3.8%
• Active inventory: 130
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $1,385 high
• Mortgage (P&I): −$886
• Tax from tax record: −$264 /mo · $3,169/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$291
• Net cashflow: $-127

Break-even live

Break-even rent $1,545

Max offer price $146,572

Occupancy floor —

Sensitivity live

Price	-10% $-31	-5% $-79	+0% $-127	+5% $-175	+10% $-223
Rent	-10% $-236	-5% $-182	+0% $-127	+5% $-72	+10% $-18
Rate	-1.0pp $-42	-0.5pp $-84	base $-127	+0.5pp $-171	+1.0pp $-215

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: $42,250
• Closing costs: $5,070
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4220 Idlewood Dr Wichita Falls, TX	4.0	1.0	1516	$1,300	$0.86	44d	1	0.53mi
4111 McGaha Ave Wichita Falls, TX	3.0	2.0	1025	$1,125	$1.10	44d	1	0.70mi
2612 Southwest Pkwy Wichita Falls, TX	1.0–2.0	1.0–2.0	987	$1,250	$1.27	44d	23	0.88mi
5021 Taft Blvd Wichita Falls, TX	1.0–3.0	1.0–2.0	1236	$1,775	$1.44	44d	8	1.26mi
4611 Taft Blvd Wichita Falls, TX	2.0	2.0	952	$735	$0.77	44d	1	1.32mi
2812 Avenue R Unit R Wichita Falls, TX	2.0	1.0	1044	$925	$0.89	44d	1	1.44mi

Listing history 15 events

1. 2026-06-15
   days on market $169,000 Active 56 DOM
2. 2026-06-14
   days on market $169,000 Active 54 DOM
3. 2026-06-13
   days on market $169,000 Active 53 DOM
4. 2026-06-10
   days on market $169,000 Active 51 DOM
5. 2026-06-09
   days on market $169,000 Active 50 DOM
6. 2026-06-08
   days on market $169,000 Active 49 DOM
7. 2026-06-07
   days on market $169,000 Active 48 DOM
8. 2026-06-05
   days on market $169,000 Active 45 DOM
9. 2026-06-02
   days on market $169,000 Active 43 DOM
10. 2026-06-01
    days on market $169,000 Active 42 DOM
11. 2026-05-31
    days on market $169,000 Active 41 DOM
12. 2026-05-30
    days on market $169,000 Active 40 DOM
13. 2026-05-12
    price $169,000 446-char remark

    Show marketing remark (446 chars)

    Completely remodeled 3-bedroom, 2-bath home featuring a formal dining room plus a breakfast area off the kitchen. Updates include new HVAC system, new vinyl plank flooring, fresh paint, new cabinets, appliances, and new privacy fence. The backyard offers a storm shelter and a huge, detached building that was an apartment. It is ready to be transformed into guest quarters, game room, workshop, or storage. A must see with endless possibilities.

14. 2026-05-04
    price $179,000 446-char remark

    Show marketing remark (446 chars)

    Completely remodeled 3-bedroom, 2-bath home featuring a formal dining room plus a breakfast area off the kitchen. Updates include new HVAC system, new vinyl plank flooring, fresh paint, new cabinets, appliances, and new privacy fence. The backyard offers a storm shelter and a huge, detached building that was an apartment. It is ready to be transformed into guest quarters, game room, workshop, or storage. A must see with endless possibilities.

15. 2026-04-20
    listed $184,000 Active 446-char remark

    Show marketing remark (446 chars)

    Completely remodeled 3-bedroom, 2-bath home featuring a formal dining room plus a breakfast area off the kitchen. Updates include new HVAC system, new vinyl plank flooring, fresh paint, new cabinets, appliances, and new privacy fence. The backyard offers a storm shelter and a huge, detached building that was an apartment. It is ready to be transformed into guest quarters, game room, workshop, or storage. A must see with endless possibilities.

ⓘ 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: $3,169 · $264/mo
• Projected year-2 tax: $3,169 · $264/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 7/10 Severe
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 9% 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: $16,614
• − Mortgage interest: −$9,467
• − Property taxes: −$3,169
• − Insurance: −$845
• − Repairs & maintenance: −$1,329
• − Management: −$1,329
• − Depreciation: −$4,916
• Taxable loss: −$4,441
• Est. tax savings @ 24.0%: +$1,066
• After-tax cash flow: $-458/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: 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

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 · 95,694 people
• City population: 95,694
• Metro: Wichita Falls, TX
• Population (ZIP): 21,896
• Household income: $74,772
• Rent vs Own: 47.7% rent · 52.3% own
• Severe rent burden: 708.0

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 (72%)
• Race & ethnicity: White 72% Hispanic / Latino 16% Black 9% Two or more races 7% Asian 1%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Serbian 2% Italian 2% Slovak 1%
• Foreign-born: 6% · Canada
• Languages at home: 90% English-only · Spanish 6% Arabic 1% German/W. Germanic 1%

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: ▼ -118.47%
• Current HPI: 177.1989
• Rent YoY: ▲ 3.77%
• Metro: Wichita Falls, 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

-8.2% since first listed

3 events — show timeline

• 2026-05-12 Price Changed $169,000 WFAOR
• 2026-05-04 Price Changed $179,000 WFAOR
• 2026-04-20 Listed $184,000 WFAOR

Property tax history

+5.3%/yr

Latest (2025): $3,169 · -5.3% YoY. Source: county tax records.