3031 Cunningham Dr · Wichita Falls, TX 76308

$96,500

3 bd · 2.0 ba · 1,854 sqft · SingleFamily public records · 243 Days on market

Built 1980 9,209 sqft lot $52/sqft · 54% below area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.5/5.0
• Rent growth +3.4/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investors Special!!! Calling all house flippers/investors. This house has great potential. With some cosmetic repairs, this home could be either a 5 bedroom, 2 bath and 1 living area or 4 bedroom, 2 bath and 1 living area. Asking $96,500. Buyer to pay all closing costs. Home is being sold As-Is. Must have a pre approval letter from bank.

Key facts

• 9,209 sq ft lot
• Built 1980
• Listed 243 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $96k.

Deal economics

• At list price, monthly cash flow is $547 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $96k).
• Recommended offer: $85k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.1% vs local median 4.7% 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 (+3.8%/yr); 130 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 45d 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 $667 of loan paydown is wiped out by about $3k 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 + 3.8% rent growth), your $27k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 243 days — a 12% lower offer ($85k) is reasonable based on typical stale-listing flexibility.
• 3 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

• 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 $84,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 243 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 1.59% ✓
• Cap rate: 13.09%
• Cash-on-cash: 24.28%
• DSCR: 2.08
• GRM: 5.2

CMA / ARV

• ARV (median comp): $210,000
• List price: $96,500
• Delta: -54.05%
• Verdict: UNDERPRICED
• Comps: 19 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3026 Moffett Ave	0.09mi	4/2.0 (+1)	1,837 (-1%)	1mo	$199,500	$109	88
3007 Lavell Ave	0.17mi	3/2.0	1,927 (+4%)	13mo	$179,900	$93	75
4814 Rhea Rd	0.42mi	3/2.0	1,641 (-12%)	6mo	$255,000	$155	56
1 Masterson Cir	0.59mi	3/2.0	1,690 (-9%)	4mo	$210,000	$124	55
4114 Lavell Ave	0.27mi	3/2.0	1,578 (-15%)	14mo	$195,000	$124	51
2724 Devon Rd	0.64mi	3/2.0	1,822 (-2%)	20mo	$249,999	$137	50
4804 Dickens St	0.74mi	4/2.0 (+1)	2,062 (+11%)	22mo	$274,600	$133	24

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: 18.5%
• Equity multiple: 1.76×
• Total profit: $20,403
• Equity at exit: $14,388

10-year hold

• IRR: 27.4%
• Equity multiple: 3.51×
• Total profit: $67,694
• Equity at exit: $8,344

Cash invested: $27,020 (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: 5.2×

Monthly cashflow live

• Estimated rent: $1,536 medium
• Mortgage (P&I): −$506
• Tax est. 1.5%: −$121 /mo · $1,448/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$323
• Net cashflow: $547

Break-even live

Break-even rent $844

Max offer price $96,500

Occupancy floor 59%

Sensitivity live

Price	-10% $613	-5% $580	+0% $547	+5% $513	+10% $480
Rent	-10% $425	-5% $486	+0% $547	+5% $607	+10% $668
Rate	-1.0pp $595	-0.5pp $571	base $547	+0.5pp $522	+1.0pp $496

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: $24,125
• Closing costs: $2,895
• Reserves months: —
• Total cash needed: —

Rent comps 4 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	0.82mi
2612 Southwest Pkwy Wichita Falls, TX	1.0–2.0	1.0–2.0	987	$1,250	$1.27	44d	23	1.12mi
5021 Taft Blvd Wichita Falls, TX	1.0–3.0	1.0–2.0	1236	$1,775	$1.44	44d	8	1.39mi
5114 Fairway Blvd Wichita Falls, TX	4.0	2.0	1406	$1,600	$1.14	44d	1	1.39mi

Listing history 22 events

1. 2026-06-19
   days on market $96,500 Active 243 DOM
2. 2026-06-18
   days on market $96,500 Active 242 DOM
3. 2026-06-17
   days on market $96,500 Active 241 DOM
4. 2026-06-16
   days on market $96,500 Active 240 DOM
5. 2026-06-15
   days on market $96,500 Active 239 DOM
6. 2026-06-14
   days on market $96,500 Active 237 DOM
7. 2026-06-13
   days on market $96,500 Active 236 DOM
8. 2026-06-10
   days on market $96,500 Active 234 DOM
9. 2026-06-09
   days on market $96,500 Active 233 DOM
10. 2026-06-08
    days on market $96,500 Active 232 DOM
11. 2026-06-07
    days on market $96,500 Active 231 DOM
12. 2026-06-05
    days on market $96,500 Active 228 DOM
13. 2026-06-02
    days on market $96,500 Active 226 DOM
14. 2026-06-01
    days on market $96,500 Active 225 DOM
15. 2026-05-31
    days on market $96,500 Active 224 DOM
16. 2026-05-30
    days on market $96,500 Active 223 DOM
17. 2025-10-19
    listed $96,500 Active 339-char remark

    Show marketing remark (339 chars)

    Investors Special!!! Calling all house flippers/investors. This house has great potential. With some cosmetic repairs, this home could be either a 5 bedroom, 2 bath and 1 living area or 4 bedroom, 2 bath and 1 living area. Asking $96,500. Buyer to pay all closing costs. Home is being sold As-Is. Must have a pre approval letter from bank.

18. 2021-01-27
    soldstatus 310-char remark

    Show marketing remark (310 chars)

    Beautiful 4 bedroom 2 full bath home filled with lots of updates . Granite counters, & appliances included ( refrigerator, & nbsp; gas stove, dishwasher, & nbsp; microwave) spacious laundry , with central heat and air . Cozy fireplace in second living space. Just a gorgeous home ready for anyone.

19. 2021-01-27
    soldstatus

    Show marketing remark (310 chars)

    Beautiful 4 bedroom 2 full bath home filled with lots of updates . Granite counters, & appliances included ( refrigerator, & nbsp; gas stove, dishwasher, & nbsp; microwave) spacious laundry , with central heat and air . Cozy fireplace in second living space. Just a gorgeous home ready for anyone.

20. 2020-12-28
    listed $145,000 310-char remark

    Show marketing remark (310 chars)

    Beautiful 4 bedroom 2 full bath home filled with lots of updates . Granite counters, & appliances included ( refrigerator, & nbsp; gas stove, dishwasher, & nbsp; microwave) spacious laundry , with central heat and air . Cozy fireplace in second living space. Just a gorgeous home ready for anyone.

21. 2019-04-26
    soldstatus
22. 2019-02-25
    listed $54,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% 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: $18,434
• − Mortgage interest: −$5,406
• − Property taxes: −$1,448
• − Insurance: −$482
• − Repairs & maintenance: −$1,475
• − Management: −$1,475
• − Depreciation: −$2,807
• Taxable income: $5,342
• Est. tax owed @ 24.0%: −$1,282
• After-tax cash flow: $5,278/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

+75.8% since first listed

6 events — show timeline

• 2025-10-19 Listed $96,500 ForSaleByOwner.com
• 2021-01-27 Sold (Public Records) — Public Records
• 2021-01-27 Sold (MLS) — WFAOR
• 2020-12-28 Listed $145,000 WFAOR
• 2019-04-26 Sold (MLS) — WFAOR
• 2019-02-25 Listed $54,900 WFAOR

Property tax history

+8.1%/yr

Latest (2025): $5,307 · +3.0% YoY. Source: county tax records.