1204 N 8th St · Wichita Falls, TX 76306

$17,999

2 bd · 1.0 ba · 920 sqft · SingleFamily public records · 422 Days on market

Built 1920 7,000 sqft lot $20/sqft · 76% below area ↓ 21% since listing

---

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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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

INVESTOR FIXER UPPER! Welcome to 1204 N 8th St, a one-story home in Wichita Falls that needs some updating. This home is being sold AS IS and does needs some TLC but it has lots of potential. It has two bedrooms, one bathroom, and about 920 square feet of space. Despite needing some work and renovations, the home boasts a good layout that can be fully functional, and a great investment. The location has easy access to I-44 and is near some really great local shops, parks, and plenty of good establishments. WE MAKE IT EASY TO OWN. This is a great opportunity! Don't wait, call us today to get more information on the owner's easy terms and smooth process that may be able to put the deed in your name and make this your dream property. When you call ask about the WICHITA FALLS INVESTOR PACKAGE.

Key facts

• Good layout
• One story home
• Near local shops

Tags

• ONE STORY HOME
• GOOD LAYOUT
• EASY ACCESS TO I-44
• NEAR LOCAL SHOPS
• NEAR PARKS
• NEAR GOOD ESTABLISHMENTS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $18k.

Deal economics

• At list price, monthly cash flow is $622 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($934 rent vs $18k).
• Recommended offer: $16k (12.0% below list) — sets the bar for market timing.
• Cap rate 47.8% 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+, schools 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.
• Market conditions: Rents rising (+2.8%/yr); 114 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 46d 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 $124 of loan paydown is wiped out by about $540 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 $5k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 422 days — a 12% lower offer ($16k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major 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 $15,839 (12.0% below list)

Questions for the listing agent

1. It's been on market 422 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 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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?
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: 5.19% ✓
• Cap rate: 47.78%
• Cash-on-cash: 148.17%
• DSCR: 7.59
• GRM: 1.6

CMA / ARV

• ARV (median comp): $73,665
• List price: $17,999
• Delta: -75.57%
• Verdict: UNDERPRICED
• Comps: 11 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1509 N 7th St	0.41mi	2/1.0	869 (-6%)	6mo	$50,000	$58	66

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: —
• Equity multiple: 8.25×
• Total profit: $36,546
• Equity at exit: $2,684

10-year hold

• IRR: —
• Equity multiple: 17.30×
• Total profit: $82,163
• Equity at exit: $1,556

Cash invested: $5,040 (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: 1.6×

Monthly cashflow live

• Estimated rent: $934 medium
• Mortgage (P&I): −$94
• Tax from tax record: −$13 /mo · $160/yr
• Insurance: −$7
• HOA: −$0
• Vacancy / Maint / Mgmt: −$196
• Net cashflow: $622

Break-even live

Break-even rent $146

Max offer price $17,999

Occupancy floor 28%

Sensitivity live

Price	-10% $632	-5% $627	+0% $622	+5% $617	+10% $612
Rent	-10% $549	-5% $585	+0% $622	+5% $659	+10% $696
Rate	-1.0pp $631	-0.5pp $627	base $622	+0.5pp $618	+1.0pp $613

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: $4,500
• Closing costs: $540
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2610 Old Iowa Park Rd Wichita Falls, TX	1.0	1.0–2.0	750	$750	$1.00	45d	1	1.00mi
1810 7th St Unit 1/2 Wichita Falls, TX	2.0	1.0	806	$775	$0.96	45d	1	1.12mi
504 Fillmore St Wichita Falls, TX	1.0–2.0	1.0	734	$895	$1.22	45d	6	1.29mi
2007 10th St Unit B Wichita Falls, TX	1.0	1.0	744	$750	$1.01	45d	1	1.47mi

Listing history 5 events

1. 2026-05-15
   status Pending 801-char remark

   Show marketing remark (801 chars)

   INVESTOR FIXER UPPER! Welcome to 1204 N 8th St, a one-story home in Wichita Falls that needs some updating. This home is being sold AS IS and does needs some TLC but it has lots of potential. It has two bedrooms, one bathroom, and about 920 square feet of space. Despite needing some work and renovations, the home boasts a good layout that can be fully functional, and a great investment. The location has easy access to I-44 and is near some really great local shops, parks, and plenty of good establishments. WE MAKE IT EASY TO OWN. This is a great opportunity! Don't wait, call us today to get more information on the owner's easy terms and smooth process that may be able to put the deed in your name and make this your dream property. When you call ask about the WICHITA FALLS INVESTOR PACKAGE.

2. 2026-02-24
   price $17,999 801-char remark

   Show marketing remark (801 chars)

   INVESTOR FIXER UPPER! Welcome to 1204 N 8th St, a one-story home in Wichita Falls that needs some updating. This home is being sold AS IS and does needs some TLC but it has lots of potential. It has two bedrooms, one bathroom, and about 920 square feet of space. Despite needing some work and renovations, the home boasts a good layout that can be fully functional, and a great investment. The location has easy access to I-44 and is near some really great local shops, parks, and plenty of good establishments. WE MAKE IT EASY TO OWN. This is a great opportunity! Don't wait, call us today to get more information on the owner's easy terms and smooth process that may be able to put the deed in your name and make this your dream property. When you call ask about the WICHITA FALLS INVESTOR PACKAGE.

3. 2025-03-19
   listed $22,799 Active 801-char remark

   Show marketing remark (801 chars)

   INVESTOR FIXER UPPER! Welcome to 1204 N 8th St, a one-story home in Wichita Falls that needs some updating. This home is being sold AS IS and does needs some TLC but it has lots of potential. It has two bedrooms, one bathroom, and about 920 square feet of space. Despite needing some work and renovations, the home boasts a good layout that can be fully functional, and a great investment. The location has easy access to I-44 and is near some really great local shops, parks, and plenty of good establishments. WE MAKE IT EASY TO OWN. This is a great opportunity! Don't wait, call us today to get more information on the owner's easy terms and smooth process that may be able to put the deed in your name and make this your dream property. When you call ask about the WICHITA FALLS INVESTOR PACKAGE.

4. 2023-05-15
   soldstatus
5. 2004-10-07
   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: $160 · $13/mo
• Projected year-2 tax: $329 · $27/mo
• Expected delta: +$169/yr (+$14/mo · 105.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 67% 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: $11,203
• − Mortgage interest: −$1,008
• − Property taxes: −$160
• − Insurance: −$90
• − Repairs & maintenance: −$896
• − Management: −$896
• − Depreciation: −$524
• Taxable income: $7,628
• Est. tax owed @ 24.0%: −$1,831
• After-tax cash flow: $5,636/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

-21.1% since first listed

5 events — show timeline

• 2026-05-15 Pending — HARMLS
• 2026-02-24 Price Changed $17,999 HARMLS
• 2025-03-19 Listed $22,799 HARMLS
• 2023-05-15 Sold (Public Records) — Public Records
• 2004-10-07 Sold (Public Records) — Public Records

Property tax history

-7.0%/yr

Latest (2025): $160 · -1.9% YoY. Source: county tax records.