903 E 4th St · Panhandle, TX 79068

$142,500

4 bd · 1.0 ba · 816 sqft · SingleFamily public records · 15 Days on market

Built 1953

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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).

• Cash flow +15.1/30.0
• ARV discount +7.5/15.0
• Schools +5.8/10.0
• DSCR +4.6/10.0
• 1% rule +4.0/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

4 units sold as is. Investment opportunity in panhandle

Key facts

• Cellar
• Basement
• Major updates

Tags

• MAJOR UPDATES
• HUGE LOT
• SEVERAL OUTBUILDINGS
• CELLAR
• BASEMENT

Property features AI

Exterior

• Parking: Detached 2-car garage
• Home design: Single-family residential property
• Exterior features: Composition roof

Interior

• Bathrooms: 1 full bathroom; 1 three-quarter bathroom
• Interior features: Laundry located in basement
• Laundry & utility: Basement laundry

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $142k.

Deal economics

• At list price, monthly cash flow is $48 ($571/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $128k (9.8% below list).
• Recommended offer: $128k (9.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 81/100 on livability (#21 in TX, #1,354 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, employment A+; Watch: amenities F, commute F.
• Panhandle ISD (rural): math 73% / reading 61% proficiency, ranked #27 of 826 in TX (top 3%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 23 active listings in the ZIP; 39 units permitted in Carson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $985 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Carson County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($140k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y 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 1953 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $128,477 (9.8% below list)

Questions for the listing agent

1. Built in 1953 — 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 A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. 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?
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: 0.90% ✗
• Cap rate: 6.69%
• Cash-on-cash: 1.43%
• DSCR: 1.06
• GRM: 9.2

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: -14.0%
• Equity multiple: 0.50×
• Total profit: $-20,054
• Equity at exit: $21,247

10-year hold

• IRR: -5.2%
• Equity multiple: 0.66×
• Total profit: $-13,527
• Equity at exit: $12,321

Cash invested: $39,900 (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 79068

• Home prices YoY: -17.0%
• Active inventory: 23
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,285 medium
• Mortgage (P&I): −$747
• Tax from tax record: −$161 /mo · $1,929/yr
• Insurance: −$59
• HOA: −$0
• Vacancy / Maint / Mgmt: −$270
• Net cashflow: $48

Break-even live

Break-even rent $1,225

Max offer price $142,500

Occupancy floor 91%

Sensitivity live

Price	-10% $128	-5% $88	+0% $48	+5% $7	+10% $-33
Rent	-10% $-54	-5% $-3	+0% $48	+5% $98	+10% $149
Rate	-1.0pp $119	-0.5pp $84	base $48	+0.5pp $11	+1.0pp $-27

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: $35,625
• Closing costs: $4,275
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $142,500 Active 15 DOM
2. 2026-06-17
   days on market $142,500 Active 14 DOM
3. 2026-06-16
   days on market $142,500 Active 13 DOM
4. 2026-06-15
   days on market $142,500 Active 12 DOM
5. 2026-06-14
   days on market $142,500 Active 10 DOM
6. 2026-06-13
   days on market $142,500 Active 9 DOM
7. 2026-06-10
   days on market $142,500 Active 7 DOM
8. 2026-06-09
   days on market $142,500 Active 6 DOM
9. 2026-06-08
   days on market $142,500 Active 5 DOM
10. 2026-06-07
    days on marketlisting id $142,500 Active 4 DOM
11. 2026-03-28
    status Active 404-char remark
12. 2026-03-19
    historical Active Under Contract 404-char remark
13. 2026-01-29
    listed $142,500 Active 404-char remark
14. 2022-09-17
    soldstatus Closed 55-char remark

    Show marketing remark (55 chars)

    4 units sold as is. Investment opportunity in panhandle

15. 2022-08-15
    price $65,000 55-char remark

    Show marketing remark (55 chars)

    4 units sold as is. Investment opportunity in panhandle

16. 2022-07-18
    price $70,000 55-char remark

    Show marketing remark (55 chars)

    4 units sold as is. Investment opportunity in panhandle

17. 2022-07-05
    price $75,000 55-char remark

    Show marketing remark (55 chars)

    4 units sold as is. Investment opportunity in panhandle

18. 2022-06-04
    status Active 55-char remark

    Show marketing remark (55 chars)

    4 units sold as is. Investment opportunity in panhandle

19. 2022-05-26
    listed $80,000 Active 55-char remark

    Show marketing remark (55 chars)

    4 units sold as is. Investment opportunity in panhandle

20. 1995-08-28
    soldstatus

ⓘ 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: $1,929 · $161/mo
• Projected year-2 tax: $2,608 · $217/mo
• Expected delta: +$679/yr (+$57/mo · 35.2%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 5/10 Major 7 d/yr ≥99°F today · 21 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,417
• − Mortgage interest: −$7,982
• − Property taxes: −$1,929
• − Insurance: −$712
• − Repairs & maintenance: −$1,233
• − Management: −$1,233
• − Depreciation: −$4,145
• Taxable loss: −$1,819
• Est. tax savings @ 24.0%: +$437
• After-tax cash flow: $1,007/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: Panhandle ISD
• NCES district ID: 4834230
• Math proficiency: 73% ▲ 4.00%
• Reading proficiency: 61% ▼ -1.00%
• Median HH income: $63,893
• Composite: 58.27/100
• National rank: #1021
• State rank: #27 of 826 in TX

Livability — Panhandle

• Score: 81/100
• State rank: #21
• US rank: #1354

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Panhandle, TX
• Population (ZIP): 3,124

Population outlook (Carson County) Hauer SSP2

• Today (2025): 5,631 people
• By 2030: 5,516 · -2.0%
• By 2040: 5,190 · -7.8%
• By 2050: 5,007 · -11.1%
• By 2075: 4,509 · -19.9%
• By 2100: 3,458 · -38.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Hispanic / Latino 13% Two or more races 5% Native American 3% Pacific Islander 2%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Slovak 2% Italian 2% Romanian 1%
• Foreign-born: 3% · Canada
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Carson

• 2024 margin: Solid R (+81.2) · D 9.1% · R 90.3%
• 2008→2024 swing: -9.3pp toward R · 2008: -71.9pp · 2024: -81.2pp
• All cycles: 2024: R+81.2 2020: R+79.5 2016: R+80.4 2012: R+77.8 2008: R+71.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -34.95%
• Current HPI: 171.0533
• Rent YoY: —
• Metro: —
• 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

+78.1% since first listed

8 events — show timeline

• 2026-06-03 Listed $142,500 AARMLS
• 2022-09-17 Sold (MLS) — AARMLS
• 2022-08-15 Price Changed $65,000 AARMLS
• 2022-07-18 Price Changed $70,000 AARMLS
• 2022-07-05 Price Changed $75,000 AARMLS
• 2022-06-04 Relisted — AARMLS
• 2022-05-26 Listed $80,000 AARMLS
• 1995-08-28 Sold (Public Records) — Public Records

Property tax history

+0.9%/yr

Latest (2025): $1,929 · +31.8% YoY. Source: county tax records.