1503 N 8th St · Wichita Falls, TX 76306

$45,000

3 bd · 1.0 ba · 916 sqft · SingleFamily public records · 46 Days on market

Built 1947 7,013 sqft lot $49/sqft · 42% below area Est $78k · 42% under ↓ 10% since listing

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.5/5.0
• Rent growth +3.2/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Bring your ideas to this great home. Great potential and strong bones. 15 property-package offered as a bundle. 12 residential and 3 commercial, not listed here. See attached offer package with the addresses and proposal. The price for all of them combined is $575,000. A potential of over $1,200,000 ARV and a potential monthly rental income of $12,000 per month. Finaciamiento de DUENO A DUENO disponible. Terminos flexibles con 20 porciento de down. 3 commercial properties: 705 N Broadway St, 302 Jefferson St, and 709 N Broadway St. All information provided is deemed reliable but is not guaranteed and should be independently verified.

Key facts

• 7,013 sq ft lot
• Built 1947
• Listed 45 days

Property features AI

Finance

• Other: No known restrictions
• Financial info: Listing terms include cash and owner financing (owner will carry); Treat as clear loan type; No second mortgage indicated
• HOA & community: No association

Exterior

• Parking: No carport; No covered parking; No designated parking features indicated
• Security: Security features: unknown/other
• Utilities: City water; City sewer; No municipal utility district
• Home design: Single-family residence; Residential property; Built in 1947; Preowned
• Construction: Siding exterior; Composition/shingle roof; Pillar/post/pier foundation; Other foundation details
• Exterior features: Lot under 0.5 acre; No easements noted; Subdivision: Scotland

Interior

• Kitchen: Other appliances
• Bedrooms: Primary bedroom (1st level), approx. 10 x 12
• Flooring: Hardwood; Other flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Other heating; Other cooling
• Interior features: One-level layout; Two rooms total; One living area; One dining area; Other interior features
• Laundry & utility: Laundry features: other or none

🏷️ Possibly a rental listed for sale. The $45,000 price doesn't fit this home's estimated sale value (~$77,582) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $45k.

Deal economics

• At list price, monthly cash flow is $559 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• Recommended offer: $44k (3.0% below list) — sets the bar for market timing.
• Cap rate 21.2% 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+, crime 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.
• Zoned schools: Scotland Park El (math 20% / reading 24%, grade F, #3,333 of 4,322 statewide, top 80%, 473 students, 92% FRL) — zoned schools average 92% FRL vs 54% district-wide (39 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.8%/yr); 114 active listings in the ZIP; 4 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 $311 of loan paydown is wiped out by about $1k 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 + 2.8% rent growth), your $13k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 46 days — a 3% lower offer ($44k) 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 1947 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk; 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 $43,650 (3.0% below list)

Questions for the listing agent

1. It's been on market 46 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1947 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 2.51% ✓
• Cap rate: 21.19%
• Cash-on-cash: 53.20%
• DSCR: 3.37
• GRM: 3.3

CMA / ARV

• ARV (median comp): $77,582
• List price: $45,000
• Delta: -42.00%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1509 N 7th St	0.07mi	2/1.0 (-1)	869 (-5%)	6mo	$50,000	$58	78

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 · 2.81% rent growth · sell at horizon

5-year hold

• IRR: 51.1%
• Equity multiple: 3.23×
• Total profit: $28,103
• Equity at exit: $6,710

10-year hold

• IRR: 56.4%
• Equity multiple: 6.52×
• Total profit: $69,532
• Equity at exit: $3,891

Cash invested: $12,600 (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 76306

• Home prices YoY: -30.1%
• Rents YoY: 2.8%
• Active inventory: 114
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $1,130 medium
• Mortgage (P&I): −$236
• Tax from tax record: −$79 /mo · $951/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$237
• Net cashflow: $559

Break-even live

Break-even rent $423

Max offer price $45,000

Occupancy floor 46%

Sensitivity live

Price	-10% $584	-5% $571	+0% $559	+5% $546	+10% $533
Rent	-10% $469	-5% $514	+0% $559	+5% $603	+10% $648
Rate	-1.0pp $581	-0.5pp $570	base $559	+0.5pp $547	+1.0pp $535

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
504 Fillmore St Wichita Falls, TX	1.0–2.0	1.0	734	$895	$1.22	44d	6	1.11mi
1810 7th St Unit 1/2 Wichita Falls, TX	2.0	1.0	806	$775	$0.96	44d	1	1.12mi
1200 Ridgeway Dr Wichita Falls, TX	1.0–3.0	1.0–2.0	889	$1,025	$1.15	44d	5	1.34mi
2801 Roanoke Dr Unit B Wichita Falls, TX	3.0	2.0	876	$990	$1.13	44d	1	1.37mi

Listing history 24 events

1. 2026-06-19
   days on market $45,000 Active 46 DOM
2. 2026-06-18
   days on market $45,000 Active 45 DOM
3. 2026-06-17
   days on market $45,000 Active 44 DOM
4. 2026-06-16
   days on market $45,000 Active 43 DOM
5. 2026-06-15
   days on market $45,000 Active 42 DOM
6. 2026-06-14
   days on market $45,000 Active 40 DOM
7. 2026-06-13
   days on market $45,000 Active 39 DOM
8. 2026-06-10
   days on market $45,000 Active 37 DOM
9. 2026-06-09
   days on market $45,000 Active 36 DOM
10. 2026-06-08
    days on market $45,000 Active 35 DOM
11. 2026-06-07
    days on market $45,000 Active 34 DOM
12. 2026-06-05
    days on market $45,000 Active 31 DOM
13. 2026-06-02
    days on market $45,000 Active 29 DOM
14. 2026-06-01
    days on market $45,000 Active 28 DOM
15. 2026-05-31
    days on market $45,000 Active 27 DOM
16. 2026-05-30
    days on market $45,000 Active 26 DOM
17. 2026-05-04
    listed $45,000 Active 829-char remark
18. 2023-04-25
    status Pending 652-char remark

    Show marketing remark (652 chars)

    Bring your ideas to this great home. Great potential and strong bones. 15 property-package offered as a bundle. 12 residential and 3 commercial, not listed here. See attached offer package with the addresses and proposal. The price for all of them combined is $575,000. A potential of over $1,200,000 ARV and a potential monthly rental income of $12,000 per month. Finaciamiento de DUENO A DUENO disponible. Terminos flexibles con 20 porciento de down. 3 commercial properties: 705 N Broadway St, 302 Jefferson St, and 709 N Broadway St. All information provided is deemed reliable but is not guaranteed and should be independently verified.

19. 2023-04-25
    soldstatus Closed 652-char remark

    Show marketing remark (652 chars)

    Bring your ideas to this great home. Great potential and strong bones. 15 property-package offered as a bundle. 12 residential and 3 commercial, not listed here. See attached offer package with the addresses and proposal. The price for all of them combined is $575,000. A potential of over $1,200,000 ARV and a potential monthly rental income of $12,000 per month. Finaciamiento de DUENO A DUENO disponible. Terminos flexibles con 20 porciento de down. 3 commercial properties: 705 N Broadway St, 302 Jefferson St, and 709 N Broadway St. All information provided is deemed reliable but is not guaranteed and should be independently verified.

20. 2023-02-09
    listed $49,800 Active 652-char remark

    Show marketing remark (652 chars)

    Bring your ideas to this great home. Great potential and strong bones. 15 property-package offered as a bundle. 12 residential and 3 commercial, not listed here. See attached offer package with the addresses and proposal. The price for all of them combined is $575,000. A potential of over $1,200,000 ARV and a potential monthly rental income of $12,000 per month. Finaciamiento de DUENO A DUENO disponible. Terminos flexibles con 20 porciento de down. 3 commercial properties: 705 N Broadway St, 302 Jefferson St, and 709 N Broadway St. All information provided is deemed reliable but is not guaranteed and should be independently verified.

21. 2022-11-29
    historical
22. 2022-10-05
    price $49,800
23. 2022-08-15
    listed $49,900 Active
24. 2022-07-25
    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: $951 · $79/mo
• Projected year-2 tax: $951 · $79/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 5/10 Major FEMA zone X (shaded) · 63% 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 8% 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: $13,559
• − Mortgage interest: −$2,521
• − Property taxes: −$951
• − Insurance: −$225
• − Repairs & maintenance: −$1,085
• − Management: −$1,085
• − Depreciation: −$1,309
• Taxable income: $6,384
• Est. tax owed @ 24.0%: −$1,532
• After-tax cash flow: $5,172/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): 13,963
• Household income: $46,957
• Rent vs Own: 41.4% rent · 58.6% own
• Severe rent burden: 235.0

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 0.59)
• Race & ethnicity: White 58% Hispanic / Latino 21% Black 16% Two or more races 9% Asian 2%
• Hispanic origin (detail): Mexican 18% Cuban 1%
• Common ancestry: Italian 2% Serbian 1% Slovak 1%
• Foreign-born: 6% · Canada
• Languages at home: 88% English-only · Spanish 8% Tagalog/Filipino 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: ▼ -71.29%
• Current HPI: 165.6314
• Rent YoY: ▲ 2.81%
• 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

-9.8% since first listed

8 events — show timeline

• 2026-05-04 Listed $45,000 NTREIS
• 2023-04-25 Pending — NTREIS
• 2023-04-25 Sold (MLS) — NTREIS
• 2023-02-09 Listed $49,800 NTREIS
• 2022-11-29 Listing Removed — NTREIS
• 2022-10-05 Price Changed $49,800 NTREIS
• 2022-08-15 Listed $49,900 NTREIS
• 2022-07-25 Sold (Public Records) — Public Records

Property tax history

+4.8%/yr

Latest (2025): $951 · -0.6% YoY. Source: county tax records.