2100 Santa Fe St Unit 310 · Wichita Falls, TX 76309

$83,950

2 bd · 2.0 ba · 1,078 sqft · SingleFamily · 47 Days on market

Built 1973 Fair condition $78/sqft · 8% below area Est $92k · 8% 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 +26.8/30.0
• ARV discount +11.3/15.0
• DSCR +9.2/10.0
• 1% rule +7.2/10.0
• Rent growth +4.6/5.0
• Livability +3.5/5.0
• Schools +2.7/10.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Priced below appraised value! Move-In ready condition wonderful 2 bedroom, 2 bath furnished condo. All furnishings convey with condo EXCEPT THOSE ITEMS MARKED AS do not remain with condo. Features balcony with view toward Burk and SAFB. Secure entry with 2 reserved parking spaces included. Common areas available to owners the lobby, party room, library, swimming pool and outdoor spaces. Wonderful opportunity for first time home buyers or a great rental. great amenities and a safe place to call HOME>Showing

Key facts

• Balcony with view
• Secure entry
• Swimming pool

Tags

• BALCONY WITH VIEW
• SECURE ENTRY
• RESERVED PARKING SPACES
• SWIMMING POOL
• OUTDOOR SPACES

Property features AI

Exterior

• Parking: Attached garage with garage door opener
• Security: Security system; Accessible entrance
• Utilities: Public water; Public sewer
• Home design: Residential condo/townhouse; 2 stories; North-facing
• Construction: Brick and stucco construction
• Exterior features: Patio; Fenced; Corner lot

Interior

• Kitchen: Dishwasher; Disposal; Electric cooktop; Electric oven; Refrigerator
• Flooring: Carpet; Tile
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Walk-in closets; Breakfast bar

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $84k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $231 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $84k).
• Recommended offer: $81k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.6% 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 fast (+8.3%/yr); 129 active listings in the ZIP; 18 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 $580 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 + 8.0% rent growth), your $24k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 47 days — a 3% lower offer ($81k) is reasonable based on typical stale-listing flexibility.

Recommended offer $81,431 (3.0% below list)

Questions for the listing agent

1. It's been on market 47 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1973 — 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. 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.
8. 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.
9. 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: 1.22% ✓
• Cap rate: 9.59%
• Cash-on-cash: 11.77%
• DSCR: 1.52
• GRM: 6.8

CMA / ARV

• ARV (median comp): $91,664
• List price: $83,950
• Delta: -8.42%
• Verdict: FAIR
• Comps: 5 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3010 Hollywood Ave	0.44mi	2/1.0	944 (-12%)	3mo	$117,500	$124	52

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: 6.7%
• Equity multiple: 1.28×
• Total profit: $6,519
• Equity at exit: $12,517

10-year hold

• IRR: 20.1%
• Equity multiple: 3.10×
• Total profit: $49,332
• Equity at exit: $7,258

Cash invested: $23,506 (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: 129
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,026 high
• Mortgage (P&I): −$440
• Tax est. 1.5%: −$105 /mo · $1,259/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$216
• Net cashflow: $231

Break-even live

Break-even rent $734

Max offer price $83,950

Occupancy floor 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: $20,988
• Closing costs: $2,518
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1901 Wenonah Ave Unit B Wichita Falls, TX	2.0	1.0	946	$1,000	$1.06	43d	1	0.24mi
2912 Avenue L Unit L Wichita Falls, TX	2.0	1.0	1104	$895	$0.81	43d	1	0.28mi
2204 Tilden St Unit A Wichita Falls, TX	3.0	2.0	872	$930	$1.07	43d	1	0.35mi
2003 Buchanan St Wichita Falls, TX	3.0	2.0	1118	$1,100	$0.98	43d	1	0.46mi
3706 Seymour Rd Wichita Falls, TX	1.0–3.0	1.0–2.5	1100	$1,188	$1.08	43d	13	0.54mi
2812 Avenue R Unit R Wichita Falls, TX	2.0	1.0	1044	$925	$0.89	43d	1	0.69mi
2304 Avenue K Wichita Falls, TX	3.0	2.0	1040	$1,050	$1.01	43d	1	0.71mi
2500 Taylor St Unit 2500 Taylor A Wichita Falls, TX	2.0	1.0	910	$800	$0.88	43d	1	0.74mi
1515 Fillmore St Wichita Falls, TX	3.0	2.0	909	$1,225	$1.35	43d	1	0.76mi
1813 Polk St Wichita Falls, TX	3.0	2.0	1090	$1,364	$1.25	43d	1	0.78mi
1507 Polk St Wichita Falls, TX	3.0	1.0	1316	$1,050	$0.80	43d	1	0.91mi
2006 Bell St Wichita Falls, TX	3.0	1.0	1120	$1,000	$0.89	43d	1	1.09mi
2130 Avenue K Wichita Falls, TX	3.0	2.0	1090	$1,390	$1.28	43d	1	1.14mi
1901 Giddings St Wichita Falls, TX	3.0	2.0	909	$1,175	$1.29	43d	1	1.18mi
1301 Giddings St Wichita Falls, TX	3.0	1.0	1000	$1,150	$1.15	43d	1	1.18mi
504 Fillmore St Wichita Falls, TX	1.0–2.0	1.0	734	$895	$1.22	43d	6	1.25mi
2007 10th St Unit B Wichita Falls, TX	1.0	1.0	744	$750	$1.01	43d	1	1.39mi
1824 Collins Ave Wichita Falls, TX	1.0	1.0	750	$795	$1.06	43d	1	1.47mi

Listing history 17 events

1. 2026-06-19
   days on market $83,950 Active 47 DOM
2. 2026-06-18
   days on market $83,950 Active 46 DOM
3. 2026-06-17
   days on market $83,950 Active 45 DOM
4. 2026-06-16
   days on market $83,950 Active 44 DOM
5. 2026-06-15
   days on market $83,950 Active 43 DOM
6. 2026-06-14
   days on market $83,950 Active 41 DOM
7. 2026-06-13
   days on market $83,950 Active 40 DOM
8. 2026-06-10
   days on market $83,950 Active 38 DOM
9. 2026-06-09
   days on market $83,950 Active 37 DOM
10. 2026-06-08
    days on market $83,950 Active 36 DOM
11. 2026-06-07
    days on market $83,950 Active 35 DOM
12. 2026-06-05
    days on market $83,950 Active 32 DOM
13. 2026-06-02
    days on market $83,950 Active 30 DOM
14. 2026-06-01
    days on market $83,950 Active 29 DOM
15. 2026-05-31
    days on market $83,950 Active 28 DOM
16. 2026-05-30
    days on market $83,950 Active 27 DOM
17. 2026-04-30
    listed $83,950 Active 515-char remark

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

Taxation est. · year 1

• Rental income: $12,315
• − Mortgage interest: −$4,703
• − Property taxes: −$1,259
• − Insurance: −$420
• − Repairs & maintenance: −$985
• − Management: −$985
• − Depreciation: −$2,442
• Taxable income: $1,521
• Est. tax owed @ 24.0%: −$365
• After-tax cash flow: $2,402/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 · 12 photos

Fair 45/100 Cosmetic rehab

This move-in ready apartment is in fair condition with cosmetic updates needed to enhance its resale and rental value.

Repairs flagged

• Major Kitchen cabinets and countertops — Outdated and in poor condition.
• Minor Living room carpet — Worn but not damaged.
• Minor Paint touch-ups — Some areas of paint show wear and tear.

Value-add opportunities

• Both Paint and touch-up interior walls — Improves appearance and value
• Both Replace kitchen cabinets and countertops — Modernizes the space and increases value
• Both Replace worn carpet in living areas — Enhances comfort and appearance
• Both Landscaping improvements — Enhances curb appeal and property value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets and countertops · Outdated and in poor condition.	Major	$15,000–50,000
Living room carpet · Worn but not damaged.	Minor	$500–3,000
Paint touch-ups · Some areas of paint show wear and tear.	Minor	$500–3,000
Total estimated repair cost · 3 items		$16,000–56,000

Value-add ROI direction

• Both Paint and touch-up interior walls — Improves appearance and value ↑
• Both Replace kitchen cabinets and countertops — Modernizes the space and increases value ↑
• Both Replace worn carpet in living areas — Enhances comfort and appearance ↑
• Both Landscaping improvements — Enhances curb appeal and property value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 13,395
• Household income: $54,159
• Rent vs Own: 42.7% rent · 57.3% own
• Severe rent burden: 469.0

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: 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%

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

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

1 event — show timeline

• 2026-04-30 Listed $83,950 WFAOR