304 Teakwood St · Amarillo, TX 79107

$83,000

3 bd · 1.0 ba · 1,003 sqft · SingleFamily public records · 9 Days on market

Built 1961 7,130 sqft lot

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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 +29.2/30.0
• DSCR +10.0/10.0
• 1% rule +9.1/10.0
• ARV discount +7.5/15.0
• Schools +3.6/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

A great opportunity for a first-time home buyer! This 3-bedroom, 1-bath home at 304 Teakwood Street in the Hamlet neighborhood offers comfortable living in a convenient location just minutes from Wonderland Park. The home features a 1-car garage and a functional layout with plenty of potential to make it your own. Enjoy the charm of the neighborhood and the ease of being close to parks, local attractions, and everyday essentials--perfect for buyers looking to get started in Amarillo!

Key facts

• Close to parks
• Hamlet neighborhood
• Local attractions

Tags

• HAMLET NEIGHBORHOOD
• CLOSE TO PARKS
• LOCAL ATTRACTIONS
• EVERYDAY ESSENTIALS

Property features AI

Exterior

• Parking: Attached garage (1 car)
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story; Residential property
• Construction: Vinyl siding with frame construction; Pillar/post/pier foundation; Built with metal roofing
• Exterior features: Wood fencing; Metal roof

Interior

• Kitchen: Oven; Cooktop; Dishwasher; Microwave; Refrigerator
• Bathrooms: 1 full bathroom
• Interior features: Central air conditioning; Natural gas heating; Oven, Cooktop, Dishwasher, Microwave, Refrigerator

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $83k.

Deal economics

• At list price, monthly cash flow is $289 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $83k).

Location & tenants

• Location reads 66/100 on livability (#624 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: amenities C-, crime F, commute F.
• Amarillo ISD (urban): math 44% / reading 41% proficiency, ranked #336 of 826 in TX (top 41%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Hamlet El (math 12% / reading 12%, grade F, #4,207 of 4,322 statewide, top 98%, 295 students, 91% FRL); Palo Duro H S (math 39% / reading 33%, grade F, #930 of 1,632 statewide, top 57%, 1,923 students, 84% FRL) — zoned schools average 88% FRL vs 58% district-wide (30 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 24% at this address vs 42% district-wide (-18 pts) — the specific schools serving this property underperform the Amarillo ISD average; the district grade overstates school quality for this exact location.
• Market conditions: 120 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,214 units permitted in Potter County in 2024 (650 in 5+ unit buildings).
• This rent runs 35% of the median local income ($41k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $574 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $23k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: severe 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 $83,000

Questions for the listing agent

1. Built in 1961 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. Crime grade is F 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?
5. 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.
6. 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.
7. 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: 1.41% ✓
• Cap rate: 10.47%
• Cash-on-cash: 14.91%
• DSCR: 1.66
• GRM: 5.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 5.5%
• Equity multiple: 1.22×
• Total profit: $4,997
• Equity at exit: $12,376

10-year hold

• IRR: 15.0%
• Equity multiple: 2.22×
• Total profit: $28,265
• Equity at exit: $7,176

Cash invested: $23,240 (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 79107

• Home prices YoY: -20.9%
• Active inventory: 120
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,173 high
• Mortgage (P&I): −$435
• Tax from tax record: −$168 /mo · $2,021/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$246
• Net cashflow: $289

Break-even live

Break-even rent $808

Max offer price $83,000

Occupancy floor 70%

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: $20,750
• Closing costs: $2,490
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
509 Jason Ave Amarillo, TX	1.0–2.0	1.0–2.0	931	$962	$1.03	12d	1	0.25mi
527 Jason Ave Amarillo, TX	2.0–4.0	2.0	1296	$1,145	$0.88	1d	3	0.34mi
2800 Redwood St Amarillo, TX	3.0	1.0	926	$1,350	$1.46	43d	1	0.45mi
4005 Hilltop Dr Apt C Amarillo, TX	2.0	1.0	784	$850	$1.08	20d	1	0.80mi
4005 Hilltop Dr Apt D Amarillo, TX	3.0	2.0	924	$1,250	$1.35	20d	1	0.80mi
2012 Ron Dr Amarillo, TX	3.0	1.5	1463	$1,795	$1.23	20d	1	1.35mi
1105 NW 16th Ave Amarillo, TX	2.0	1.0	1159	$950	$0.82	20d	1	1.44mi

Listing history 13 events

1. 2026-06-18
   status $83,000 Pending 9 DOM
2. 2026-06-18
   days on market $83,000 Active 9 DOM
3. 2026-06-17
   days on market $83,000 Active 8 DOM
4. 2026-06-16
   days on market $83,000 Active 7 DOM
5. 2026-06-15
   days on market $83,000 Active 6 DOM
6. 2026-06-14
   days on market $83,000 Active 4 DOM
7. 2026-06-13
   days on market $83,000 Active 3 DOM
8. 2026-06-10
   days on marketlisting id $83,000 Active 1 DOM
9. 2026-06-09
   days on market $83,000 Active 6 DOM
10. 2026-06-08
    days on market $83,000 Active 5 DOM
11. 2026-06-07
    days on market $83,000 Active 4 DOM
12. 2026-06-03
    remarks 488-char remark
13. 2026-06-03
    listed $83,000 Active 1 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: $2,021 · $168/mo
• Projected year-2 tax: $2,021 · $168/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 10/10 Extreme
• 🌡 Heat 5/10 Major 7 d/yr ≥97°F today · 20 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,081
• − Mortgage interest: −$4,649
• − Property taxes: −$2,021
• − Insurance: −$415
• − Repairs & maintenance: −$1,126
• − Management: −$1,126
• − Depreciation: −$2,415
• Taxable income: $2,328
• Est. tax owed @ 24.0%: −$559
• After-tax cash flow: $2,906/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: Amarillo ISD
• NCES district ID: 4808130
• Math proficiency: 44% ▼ -9.00%
• Reading proficiency: 41% ▼ -3.00%
• Median HH income: $43,478
• Composite: 35.96/100
• National rank: #4798
• State rank: #336 of 826 in TX

Livability — Amarillo

• Score: 66/100
• State rank: #624
• US rank: #11876

Category grades

Amenities C- Commute F Cost of living A+ Crime F Employment C Housing A+ Health & safety F User ratings B-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Amarillo, TX
• County: Potter County · 72,216 people
• City population: 185,802
• Metro: Amarillo, TX
• Population (ZIP): 36,662
• Household income: $40,671
• Rent vs Own: 44.0% rent · 56.0% own
• Severe rent burden: 1019.0

Population outlook (Potter County) Hauer SSP2

• Today (2025): 121,296 people
• By 2030: 120,883 · -0.3%
• By 2040: 119,668 · -1.3%
• By 2050: 117,788 · -2.9%
• By 2075: 110,250 · -9.1%
• By 2100: 92,923 · -23.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.70)
• Race & ethnicity: Hispanic / Latino 45% Black 25% Two or more races 17% White 16% Asian 10%
• Hispanic origin (detail): Mexican 41%
• Common ancestry: Ukrainian 1% Lithuanian 1%
• Foreign-born: 27% · Canada, Philippines, Vietnam
• Languages at home: 50% English-only · Spanish 35% Other Asian/Pacific 7% Vietnamese 2%

Political lean MEDSL · Potter

• 2024 margin: Solid R (+44.4) · D 27.3% · R 71.7% · Other 1.1%
• 2008→2024 swing: -5.0pp toward R · 2008: -39.4pp · 2024: -44.4pp
• All cycles: 2024: R+44.4 2020: R+38.7 2016: R+41.9 2012: R+44.6 2008: R+39.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -57.01%
• Current HPI: 215.7976
• Rent YoY: —
• Metro: Amarillo, 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

2 events — show timeline

• 2026-06-03 Listed $83,000 AARMLS
• 2007-12-27 Sold (Public Records) — Public Records

Property tax history

+6.4%/yr

Latest (2025): $2,021 · +12.2% YoY. Source: county tax records.