1502 S Monroe St · Amarillo, TX 79101

$225,000

3 bd · 2.0 ba · 2,168 sqft · SingleFamily public records · 162 Days on market

Built 1926 10,454 sqft lot $104/sqft · 77% above area

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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 +11.2/30.0
• ARV discount +7.5/15.0
• Appreciation +5.7/10.0
• 1% rule +3.7/10.0
• Schools +3.6/10.0
• DSCR +3.3/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Perfectly pleasing Craftsman style home in historic Plemons! This 3 bedroom, 2.5 bath home offers beautiful living spaces, hardwood floors, rare woodwork, high ceilings and a kitchen with amazing cabinet storage. Spacious living room features cozy fireplace. Enjoy natural light and a second fireplace in the den. Kitchen has an island, breakfast area, original icebox cabinet, and pantry. Large formal dining area. Office space or den could be a 3rd bedroom. Basement storage. Attic has potential for more living area. Peaceful and shaded backyard. Detached 2 car garage. Location would be conducive to a home office or business. 4 minute drive to downtown Amarillo or I-40. This home offers the character you desire at an affordable price!

Key facts

• Craftsman style home
• Rare woodwork
• Cozy fireplace

Tags

• CRAFTSMAN STYLE HOME
• HARDWOOD FLOORS
• RARE WOODWORK
• HIGH CEILINGS
• AMAZING CABINET STORAGE
• COZY FIREPLACE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $-84 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $210k (6.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $197k (12.6% below list).
• Recommended offer: $197k (12.6% below list) — sets the bar for 1% rule.

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-, schools D, crime 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.
• Market conditions: 23 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 1,214 units permitted in Potter County in 2024 (650 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($2k loan paydown + $3k appreciation (1.4% local appreciation)).
• By year 7, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 162 days — a 12% lower offer ($198k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $25k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1926 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $196,547 (12.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 162 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
3. Built in 1926 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.87% ✗
• Cap rate: 5.84%
• Cash-on-cash: -1.61%
• DSCR: 0.93
• GRM: 9.5

CMA / ARV

• ARV (median comp): $126,910
• List price: $225,000
• Delta: 77.29%
• Verdict: OVERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

1.41% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 1.1%
• Equity multiple: 1.05×
• Total profit: $3,453
• Equity at exit: $81,643

10-year hold

• IRR: 5.5%
• Equity multiple: 1.70×
• Total profit: $44,350
• Equity at exit: $112,336

Cash invested: $63,000 (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 79101

• Home prices YoY: 0.8%
• Active inventory: 23
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,965 high
• Mortgage (P&I): −$1,180
• Tax from tax record: −$363 /mo · $4,362/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$413
• Net cashflow: $-84

Break-even live

Break-even rent $2,072

Max offer price $210,085

Occupancy floor 99%

Sensitivity live

Price	-10% $43	-5% $-21	+0% $-84	+5% $-148	+10% $-212
Rent	-10% $-240	-5% $-162	+0% $-84	+5% $-7	+10% $71
Rate	-1.0pp $29	-0.5pp $-27	base $-84	+0.5pp $-143	+1.0pp $-202

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1611 Parker St Amarillo, TX	4.0	2.0	2401	$1,995	$0.83	45d	1	0.50mi
2108 S Hayden St Amarillo, TX	4.0	3.0	1951	$2,399	$1.23	22d	1	0.66mi
2709 S Van Buren St Unit 1 Amarillo, TX	3.0	2.0	1787	$2,100	$1.18	14d	1	1.04mi
913 S Rusk St Amarillo, TX	3.0	2.0	1450	$1,450	$1.00	14d	1	1.08mi
3101 S Van Buren St Amarillo, TX	3.0	2.0	1922	$2,300	$1.20	14d	1	1.24mi
302 N Madison St Amarillo, TX	3.0	2.0	2200	$1,500	$0.68	45d	1	1.28mi
603 N Monroe St Amarillo, TX	3.0	2.0	2200	$1,500	$0.68	22d	1	1.49mi

Listing history 19 events

1. 2026-06-21
   days on market $225,000 Active 162 DOM
2. 2026-06-18
   days on market $225,000 Active 159 DOM
3. 2026-06-17
   days on market $225,000 Active 158 DOM
4. 2026-06-16
   days on market $225,000 Active 157 DOM
5. 2026-06-15
   days on market $225,000 Active 156 DOM
6. 2026-06-14
   days on market $225,000 Active 154 DOM
7. 2026-06-13
   days on market $225,000 Active 153 DOM
8. 2026-06-10
   days on market $225,000 Active 151 DOM
9. 2026-06-09
   days on market $225,000 Active 150 DOM
10. 2026-06-08
    days on market $225,000 Active 149 DOM
11. 2026-06-07
    days on market $225,000 Active 148 DOM
12. 2026-06-03
    days on market $225,000 Active 144 DOM
13. 2026-06-02
    days on market $225,000 Active 143 DOM
14. 2026-06-01
    days on market $225,000 Active 142 DOM
15. 2026-05-31
    days on market $225,000 Active 141 DOM
16. 2026-05-30
    days on market $225,000 Active 140 DOM
17. 2026-01-29
    status Active 743-char remark

    Show marketing remark (743 chars)

    Perfectly pleasing Craftsman style home in historic Plemons! This 3 bedroom, 2.5 bath home offers beautiful living spaces, hardwood floors, rare woodwork, high ceilings and a kitchen with amazing cabinet storage. Spacious living room features cozy fireplace. Enjoy natural light and a second fireplace in the den. Kitchen has an island, breakfast area, original icebox cabinet, and pantry. Large formal dining area. Office space or den could be a 3rd bedroom. Basement storage. Attic has potential for more living area. Peaceful and shaded backyard. Detached 2 car garage. Location would be conducive to a home office or business. 4 minute drive to downtown Amarillo or I-40. This home offers the character you desire at an affordable price!

18. 2026-01-23
    historical Active Under Contract 743-char remark

    Show marketing remark (743 chars)

    Perfectly pleasing Craftsman style home in historic Plemons! This 3 bedroom, 2.5 bath home offers beautiful living spaces, hardwood floors, rare woodwork, high ceilings and a kitchen with amazing cabinet storage. Spacious living room features cozy fireplace. Enjoy natural light and a second fireplace in the den. Kitchen has an island, breakfast area, original icebox cabinet, and pantry. Large formal dining area. Office space or den could be a 3rd bedroom. Basement storage. Attic has potential for more living area. Peaceful and shaded backyard. Detached 2 car garage. Location would be conducive to a home office or business. 4 minute drive to downtown Amarillo or I-40. This home offers the character you desire at an affordable price!

19. 2026-01-10
    listed $250,000 Active 743-char remark

    Show marketing remark (743 chars)

    Perfectly pleasing Craftsman style home in historic Plemons! This 3 bedroom, 2.5 bath home offers beautiful living spaces, hardwood floors, rare woodwork, high ceilings and a kitchen with amazing cabinet storage. Spacious living room features cozy fireplace. Enjoy natural light and a second fireplace in the den. Kitchen has an island, breakfast area, original icebox cabinet, and pantry. Large formal dining area. Office space or den could be a 3rd bedroom. Basement storage. Attic has potential for more living area. Peaceful and shaded backyard. Detached 2 car garage. Location would be conducive to a home office or business. 4 minute drive to downtown Amarillo or I-40. This home offers the character you desire at an affordable price!

ⓘ 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: $4,362 · $363/mo
• Projected year-2 tax: $4,362 · $363/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 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥97°F today · 18 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: $23,586
• − Mortgage interest: −$12,603
• − Property taxes: −$4,362
• − Insurance: −$1,125
• − Repairs & maintenance: −$1,887
• − Management: −$1,887
• − Depreciation: −$6,545
• Taxable loss: −$4,824
• Est. tax savings @ 24.0%: +$1,158
• After-tax cash flow: $145/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
• City population: 185,802
• Population (ZIP): 2,458

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: Majority White (64%)
• Race & ethnicity: White 64% Hispanic / Latino 24% Two or more races 11% Black 4% Asian 2%
• Hispanic origin (detail): Mexican 21%
• Common ancestry: Lithuanian 5% Slovak 2% Serbian 1%
• Foreign-born: 4% · Canada
• Languages at home: 89% English-only · Spanish 9% Other Asian/Pacific 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: ▲ 1.41%
• Current HPI: 173.3766
• 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

3 events — show timeline

• 2026-01-29 Relisted — AARMLS
• 2026-01-23 Contingent — AARMLS
• 2026-01-10 Listed $250,000 AARMLS

Property tax history

+3.6%/yr

Latest (2025): $4,362 · +11.9% YoY. Source: county tax records.