10507 Broadway Dr · Amarillo, TX 79108

$469,000

24 bd · 17.6 ba · 728 sqft · MultiFamily · 55 Days on market

Built 1983 Fair condition 2.00 ac 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +3.5/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 8 units. estimate disagrees with records

Listing remarks MLS

Extremely well maintained mobile home park with 6 park owned 2 bdm homes + 3 RV spaces, all nestled amongst mature trees/landscape. Country setting just north of Amarillo city limits allows for easy expansion through county. Tenants maintain yards, pay own utilities. Park pays water (2 wells) & garbage. Features gravel drives & designated parking, community storm shelter, 4 septic tanks, numerous storage bldgs/well houses, covered parking. Rent out storage bldgs/parking for add'l income. Possible room for addition of tiny homes and/or RV spaces. All mobile homes recently detached from land for much lower taxes, with homes being taxed as personal property. A local bank will loan up to 80%, LTV, call for details. MOTIVATED SELLERS. BRING ALL REASONABLE OFFERS.

Key facts

• Covered parking
• Country setting
• Storage buildings

Tags

• MATURE TREES
• COUNTRY SETTING
• DESIGNATED PARKING
• COMMUNITY STORM SHELTER
• STORAGE BUILDINGS
• COVERED PARKING

What this means for you Summary

Snapshot

• This is a 8 × 3-bed/?-bath units multifamily listed at $469k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $3k ($40k/yr) — positive. Per door: $417/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $469k).
• Recommended offer: $455k (3.0% below list) — sets the bar for market timing.

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.
• River Road ISD (suburban): math 38% / reading 41% proficiency, ranked #389 of 826 in TX (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 62 active listings in the ZIP; 1,214 units permitted in Potter County in 2024 (650 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $14k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $131k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 55 days — a 3% lower offer ($455k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y 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

• Climate carrying-cost: major wildfire risk; extreme-heat days projected 6→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $454,930 (3.0% below list)

Questions for the listing agent

1. It's been on market 55 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.77% ✓
• Cap rate: 14.82%
• Cash-on-cash: 30.45%
• DSCR: 2.35
• GRM: 4.7

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: 25.1%
• Equity multiple: 2.04×
• Total profit: $136,372
• Equity at exit: $69,929

10-year hold

• IRR: 32.9%
• Equity multiple: 3.99×
• Total profit: $392,559
• Equity at exit: $40,551

Cash invested: $131,320 (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 79108

• Home prices YoY: -25.9%
• Active inventory: 62
• Price-to-rent: 37.6×

Monthly cashflow live

• Estimated rent: $8,321 medium
• Mortgage (P&I): −$2,459
• Tax est. 1.5%: −$586 /mo · $7,035/yr
• Insurance: −$195
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,747
• Net cashflow: $3,332

Break-even live

Break-even rent $4,103

Max offer price $469,000

Occupancy floor 55%

8-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 8× units	3	—	$8,320
Total (8 units)			$8,321

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: $117,250
• Closing costs: $14,070
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $469,000 Active 55 DOM
2. 2026-06-17
   days on market $469,000 Active 54 DOM
3. 2026-06-16
   days on market $469,000 Active 53 DOM
4. 2026-06-15
   days on market $469,000 Active 52 DOM
5. 2026-06-15
   days on market $469,000 Active 51 DOM
6. 2026-06-13
   days on market $469,000 Active 50 DOM
7. 2026-06-12
   days on market $469,000 Active 49 DOM
8. 2026-06-09
   days on market $469,000 Active 46 DOM
9. 2026-06-08
   days on market $469,000 Active 45 DOM
10. 2026-06-08
    days on market $469,000 Active 44 DOM
11. 2026-06-07
    days on market $469,000 Active 43 DOM
12. 2026-06-03
    days on market $469,000 Active 40 DOM
13. 2026-06-02
    days on market $469,000 Active 39 DOM
14. 2026-06-01
    days on market $469,000 Active 38 DOM
15. 2026-05-31
    days on market $469,000 Active 37 DOM
16. 2026-04-24
    listed $469,000 Active 780-char remark

    Show marketing remark (780 chars)

    Extremely well maintained mobile home park with 6 park owned 2 bdm homes + 3 RV spaces, all nestled amongst mature trees/landscape. Country setting just north of Amarillo city limits allows for easy expansion through county. Tenants maintain yards, pay own utilities. Park pays water (2 wells) & garbage. Features gravel drives & designated parking, community storm shelter, 4 septic tanks, numerous storage bldgs/well houses, covered parking. Rent out storage bldgs/parking for add'l income. Possible room for addition of tiny homes and/or RV spaces. All mobile homes recently detached from land for much lower taxes, with homes being taxed as personal property. A local bank will loan up to 80%, LTV, call for details. MOTIVATED SELLERS. BRING ALL REASONABLE OFFERS.

17. 2022-10-27
    price $499,900
18. 2022-10-20
    price $509,000
19. 2021-10-29
    soldstatus
20. 2021-08-14
    listed $430,000

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 5/10 Major 6 d/yr ≥98°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $99,852
• − Mortgage interest: −$26,271
• − Property taxes: −$7,035
• − Insurance: −$2,345
• − Repairs & maintenance: −$7,988
• − Management: −$7,988
• − Depreciation: −$13,644
• Taxable income: $34,581
• Est. tax owed @ 24.0%: −$8,299
• After-tax cash flow: $31,690/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 Moderate rehab

This multi-family property requires moderate repairs and maintenance to improve its curb appeal and increase its value.

Repairs flagged

• Major siding — Significant wear and tear
• Major roof — No visible damage
• Major landscaping — Sparse vegetation

Value-add opportunities

• Both paint exterior walls — Enhances curb appeal and resale value
• Both landscaping — Improves curb appeal and rental value
• Both repair and paint siding — Enhances curb appeal and resale value

Renovation cost estimate screening

Repair item	Severity	Est. cost
siding · Significant wear and tear	Major	$15,000–50,000
roof · No visible damage	Major	$15,000–50,000
landscaping · Sparse vegetation	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both paint exterior walls — Enhances curb appeal and resale value ↑
• Both landscaping — Improves curb appeal and rental value ↑
• Both repair and paint siding — Enhances curb appeal and resale 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: River Road ISD
• NCES district ID: 4837260
• Math proficiency: 38% ▼ -3.00%
• Reading proficiency: 41% ▼ -1.00%
• Median HH income: $57,718
• Composite: 34.81/100
• National rank: #5105
• State rank: #389 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

• City population: 185,802
• Population (ZIP): 10,979

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: Predominantly White (66%)
• Race & ethnicity: White 66% Hispanic / Latino 23% Two or more races 14% Asian 3% Black 2%
• Hispanic origin (detail): Mexican 20%
• Common ancestry: Italian 3% Slovak 3% Lithuanian 2%
• Foreign-born: 8% · Canada, Philippines
• Languages at home: 80% English-only · Spanish 17% 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: ▼ -64.97%
• Current HPI: 185.6329
• 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

+9.1% since first listed

5 events — show timeline

• 2026-04-24 Listed $469,000 AARMLS
• 2022-10-27 Price Changed $499,900 AARMLS
• 2022-10-20 Price Changed $509,000 AARMLS
• 2021-10-29 Sold (MLS) — AARMLS
• 2021-08-14 Listed $430,000 AARMLS