3602 NE 24th Ave · Amarillo, TX 79107

$64,900

3 bd · 1.0 ba · 900 sqft · SingleFamily public records · 167 Days on market

Built 1949 $72/sqft · 9% above area Est $59k · 9% over ↓ 7% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +3.6/10.0
• ARV discount +3.4/15.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 3 bedroom 1 bath home is ready for a handyman to finish it. Newer roof, New HVAC system, New Cabinets, New bathroom and more. .. Original floors ready to be polished. Schedule you viewing today!

Key facts

• Built 1949
• Listed 166 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $452 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $57k (12.0% 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.
• 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: 120 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 55% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 1,214 units permitted in Potter County in 2024 (650 in 5+ unit buildings).
• This rent runs 36% 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 $449 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 $18k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 167 days — a 12% lower offer ($57k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1949 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $57,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 167 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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 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: 1.87% ✓
• Cap rate: 14.65%
• Cash-on-cash: 29.84%
• DSCR: 2.33
• GRM: 4.5

CMA / ARV

• ARV (median comp): $59,449
• List price: $64,900
• Delta: 9.17%
• Verdict: FAIR
• Comps: 2 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2214 N Woodland St	0.22mi	3/1.0	956 (+6%)	10mo	$54,900	$57	71
2100 N Roosevelt St	0.35mi	3/1.0	1,002 (+11%)	1mo	$65,000	$65	64

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 24.4%
• Equity multiple: 2.01×
• Total profit: $18,319
• Equity at exit: $9,677

10-year hold

• IRR: 32.3%
• Equity multiple: 3.93×
• Total profit: $53,234
• Equity at exit: $5,611

Cash invested: $18,172 (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: 4.5×

Monthly cashflow live

• Estimated rent: $1,215 high
• Mortgage (P&I): −$340
• Tax from tax record: −$140 /mo · $1,685/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$255
• Net cashflow: $452

Break-even live

Break-even rent $643

Max offer price $64,900

Occupancy floor 58%

Sensitivity live

Price	-10% $489	-5% $470	+0% $452	+5% $434	+10% $415
Rent	-10% $356	-5% $404	+0% $452	+5% $500	+10% $548
Rate	-1.0pp $485	-0.5pp $468	base $452	+0.5pp $435	+1.0pp $418

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: $16,225
• Closing costs: $1,947
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3411 NE 22nd Ave Amarillo, TX	3.0	1.0	982	$1,450	$1.48	14d	1	0.18mi
2411 N Vernon St Amarillo, TX	3.0	1.0	926	$1,250	$1.35	45d	1	0.29mi
3810 Mesa Verde Dr Amarillo, TX	3.0	1.0	901	$1,200	$1.33	45d	1	0.41mi
3811 NE 17th Ave Amarillo, TX	2.0	1.0	786	$895	$1.14	45d	1	0.42mi
3606 NE 14th Ave Amarillo, TX	3.0	1.0	1088	$1,300	$1.19	14d	1	0.60mi
1819 Darden St Amarillo, TX	3.0	1.0	1114	$1,095	$0.98	45d	1	0.75mi
1220 N Nelson St Amarillo, TX	2.0	1.0	550	$900	$1.64	22d	1	0.86mi
823 N Nelson St Amarillo, TX	2.0	1.0	1000	$900	$0.90	45d	1	1.09mi
2301 Seth Ln Amarillo, TX	1.0–3.0	1.0–2.0	869	$1,004	$1.15	0d	7	1.10mi
2405 Rule St Amarillo, TX	2.0	1.0	720	$850	$1.18	45d	1	1.32mi
2904 N Mirror St Amarillo, TX	2.0	1.0	608	$1,050	$1.73	22d	1	1.34mi

Listing history 19 events

1. 2026-06-21
   days on market $64,900 Active 167 DOM
2. 2026-06-18
   days on market $64,900 Active 164 DOM
3. 2026-06-17
   days on market $64,900 Active 163 DOM
4. 2026-06-16
   days on market $64,900 Active 162 DOM
5. 2026-06-15
   days on market $64,900 Active 161 DOM
6. 2026-06-14
   days on market $64,900 Active 159 DOM
7. 2026-06-13
   days on market $64,900 Active 158 DOM
8. 2026-06-10
   days on market $64,900 Active 156 DOM
9. 2026-06-09
   days on market $64,900 Active 155 DOM
10. 2026-06-08
    days on market $64,900 Active 154 DOM
11. 2026-06-07
    days on market $64,900 Active 153 DOM
12. 2026-06-03
    days on market $64,900 Active 149 DOM
13. 2026-06-02
    remarks 211-char remark
14. 2026-06-02
    pricedays on market $64,900 Active 148 DOM
15. 2026-06-01
    days on market $69,900 Active 147 DOM
16. 2026-05-31
    days on market $69,900 Active 146 DOM
17. 2026-05-30
    days on market $69,900 Active 145 DOM
18. 2026-03-02
    price $69,900 200-char remark

    Show marketing remark (200 chars)

    This 3 bedroom 1 bath home is ready for a handyman to finish it. Newer roof, New HVAC system, New Cabinets, New bathroom and more. .. Original floors ready to be polished. Schedule you viewing today!

19. 2026-01-05
    listed $75,000 Active 200-char remark

    Show marketing remark (200 chars)

    This 3 bedroom 1 bath home is ready for a handyman to finish it. Newer roof, New HVAC system, New Cabinets, New bathroom and more. .. Original floors ready to be polished. Schedule you viewing today!

ⓘ 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: $1,685 · $140/mo
• Projected year-2 tax: $1,685 · $140/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 4/10 Moderate 6 d/yr ≥97°F today · 16 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: $14,578
• − Mortgage interest: −$3,635
• − Property taxes: −$1,685
• − Insurance: −$324
• − Repairs & maintenance: −$1,166
• − Management: −$1,166
• − Depreciation: −$1,888
• Taxable income: $4,712
• Est. tax owed @ 24.0%: −$1,131
• After-tax cash flow: $4,292/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

-6.8% since first listed

2 events — show timeline

• 2026-03-02 Price Changed $69,900 AARMLS
• 2026-01-05 Listed $75,000 AARMLS

Property tax history

+5.3%/yr

Latest (2025): $1,685 · -4.5% YoY. Source: county tax records.