1719 Elizabeth Ave · Wichita Falls, TX 76301

$82,000

2 bd · 2.0 ba · 1,728 sqft · MultiFamily public records · 40 Days on market

Built 1934 7,492 sqft lot $47/sqft · 16% below area Est $97k · 16% under

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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 +14.6/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +3.8/5.0
• Livability +3.5/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Investor special: Brick Duplex in the Southland addition currently leased out both sides. One side still needs a little TLC, but the other side has some updates. So much potential with this one!

Key facts

• 7,492 sq ft lot
• Built 1934
• Listed 39 days

Property features AI

Finance

• Other: Property located in the Southland subdivision, Wichita County
• Financial info: Second mortgage: none; Loan treated as clear
• HOA & community: No homeowners association

Exterior

• Parking: Additional parking (no covered or carport spaces listed)
• Utilities: City sewer; Not in a municipal utility district
• Home design: Single family residence; Attached property; One-story
• Construction: Built in 1934
• Exterior features: Back yard fencing; Additional parking

Interior

• Kitchen: Electric cooktop; Electric oven; Disposal
• Bedrooms: 4 bedrooms (all on entry level); Primary bedroom with built-in desk; Second primary bedroom with built-in cabinets and cedar closet; Additional bedrooms with built-in desks and/or cedar closets
• Bathrooms: 2 full bathrooms; Bathrooms include built-in cabinets and concrete countertops
• Interior features: Cable TV available; High-speed internet available; Cedar closet(s); Decorative lighting; Two living areas; Eight total rooms

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath multifamily listed at $82k.

Deal economics

• At list price, monthly cash flow is $885 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $82k).
• Recommended offer: $80k (3.0% below list) — sets the bar for market timing.
• Cap rate 19.2% 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: Fowler El (math 48% / reading 46%, grade D-, #1,006 of 4,322 statewide, top 25%, 548 students, 47% FRL).
• Zoned-school proficiency averages 47% at this address vs 32% district-wide (+15 pts) — the actual schools serving this property are materially stronger than the Wichita Falls ISD average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+5.3%/yr); 133 active listings in the ZIP; 8 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; lower-income renter base — watch delinquency; 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 $567 of loan paydown is wiped out by about $2k 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 + 5.3% rent growth), your $23k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($80k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 9y ago; this cycle's ask has dropped $7k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1934 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $79,540 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 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 1934 — 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 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: 2.30% ✓
• Cap rate: 19.24%
• Cash-on-cash: 46.24%
• DSCR: 3.06
• GRM: 3.6

CMA / ARV

• ARV (median comp): $97,297
• List price: $82,000
• Delta: -15.72%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
705 Baylor St	0.51mi	3/3.0 (+1)	1,592 (-8%)	6mo	$85,000	$53	50

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 · 5.27% rent growth · sell at horizon

5-year hold

• IRR: 46.1%
• Equity multiple: 3.07×
• Total profit: $47,511
• Equity at exit: $12,226

10-year hold

• IRR: 52.9%
• Equity multiple: 6.80×
• Total profit: $133,060
• Equity at exit: $7,090

Cash invested: $22,960 (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 76301

• Home prices YoY: -34.1%
• Rents YoY: 5.3%
• Active inventory: 133
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,885 high
• Mortgage (P&I): −$430
• Tax from tax record: −$140 /mo · $1,684/yr
• Insurance: −$34
• HOA: −$0
• Vacancy / Maint / Mgmt: −$396
• Net cashflow: $885

Break-even live

Break-even rent $765

Max offer price $82,000

Occupancy floor 48%

Sensitivity live

Price	-10% $931	-5% $908	+0% $885	+5% $861	+10% $838
Rent	-10% $736	-5% $810	+0% $885	+5% $959	+10% $1,034
Rate	-1.0pp $926	-0.5pp $906	base $885	+0.5pp $863	+1.0pp $842

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,884
Total (2 units)			$1,885

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: $20,500
• Closing costs: $2,460
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1821 9th St Unit B Wichita Falls, TX	2.0	1.0	1200	$795	$0.66	44d	1	0.34mi
1714 7th St Wichita Falls, TX	3.0	1.0	1452	$850	$0.59	44d	1	0.54mi
1916 7th St Wichita Falls, TX	2.0	1.0	1226	$1,050	$0.86	44d	1	0.61mi
1507 Polk St Wichita Falls, TX	3.0	1.0	1316	$1,050	$0.80	44d	1	0.77mi
2130 Avenue K Wichita Falls, TX	3.0	2.0	1090	$1,390	$1.28	44d	1	0.78mi
2006 Bell St Wichita Falls, TX	3.0	1.0	1120	$1,000	$0.89	44d	1	0.80mi
1813 Polk St Wichita Falls, TX	3.0	2.0	1090	$1,364	$1.25	44d	1	0.98mi
2003 Buchanan St Wichita Falls, TX	3.0	2.0	1118	$1,100	$0.98	44d	1	1.27mi

Listing history 23 events

1. 2026-06-19
   days on market $82,000 Active 40 DOM
2. 2026-06-18
   days on market $82,000 Active 39 DOM
3. 2026-06-17
   days on market $82,000 Active 38 DOM
4. 2026-06-16
   days on market $82,000 Active 37 DOM
5. 2026-06-15
   days on market $82,000 Active 36 DOM
6. 2026-06-14
   days on market $82,000 Active 34 DOM
7. 2026-06-13
   days on market $82,000 Active 33 DOM
8. 2026-06-10
   days on market $82,000 Active 31 DOM
9. 2026-06-09
   days on market $82,000 Active 30 DOM
10. 2026-06-08
    days on market $82,000 Active 29 DOM
11. 2026-06-07
    pricedays on market $82,000 Active 28 DOM
12. 2026-06-05
    days on market $89,000 Active 25 DOM
13. 2026-06-02
    days on market $89,000 Active 23 DOM
14. 2026-06-01
    days on market $89,000 Active 22 DOM
15. 2026-05-31
    days on market $89,000 Active 21 DOM
16. 2026-05-30
    days on market $89,000 Active 20 DOM
17. 2026-05-09
    listed $89,000 Active 124-char remark
18. 2021-09-28
    soldstatus
19. 2021-09-24
    soldstatus 194-char remark

    Show marketing remark (194 chars)

    Investor special: Brick Duplex in the Southland addition currently leased out both sides. One side still needs a little TLC, but the other side has some updates. So much potential with this one!

20. 2021-07-27
    listed $75,000 194-char remark

    Show marketing remark (194 chars)

    Investor special: Brick Duplex in the Southland addition currently leased out both sides. One side still needs a little TLC, but the other side has some updates. So much potential with this one!

21. 2018-01-31
    soldstatus

    Show marketing remark (440 chars)

    Neat and clean duplex on a very nice block with well maintained houses. Each unit boasts a nicely sized living room and a dining room with pass through to kitchen. Bedroom is on the back side of the unit and features a large closet. Each unit has a separate washer/dryer room, separate hot water heater, and separate utility meters. Window units, space heaters, and ceiling fans are found in each unit. The complex roof was recently placed.

22. 2018-01-31
    soldstatus

    Show marketing remark (440 chars)

    Neat and clean duplex on a very nice block with well maintained houses. Each unit boasts a nicely sized living room and a dining room with pass through to kitchen. Bedroom is on the back side of the unit and features a large closet. Each unit has a separate washer/dryer room, separate hot water heater, and separate utility meters. Window units, space heaters, and ceiling fans are found in each unit. The complex roof was recently placed.

23. 2017-12-19
    listed $49,500

    Show marketing remark (440 chars)

    Neat and clean duplex on a very nice block with well maintained houses. Each unit boasts a nicely sized living room and a dining room with pass through to kitchen. Bedroom is on the back side of the unit and features a large closet. Each unit has a separate washer/dryer room, separate hot water heater, and separate utility meters. Window units, space heaters, and ceiling fans are found in each unit. The complex roof was recently placed.

ⓘ 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: $1,684 · $140/mo
• Projected year-2 tax: $1,684 · $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 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 20 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 7% 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: $22,620
• − Mortgage interest: −$4,593
• − Property taxes: −$1,684
• − Insurance: −$410
• − Repairs & maintenance: −$1,810
• − Management: −$1,810
• − Depreciation: −$2,385
• Taxable income: $9,928
• Est. tax owed @ 24.0%: −$2,383
• After-tax cash flow: $8,233/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): 15,479
• Household income: $41,947
• Rent vs Own: 44.7% rent · 55.3% own
• Severe rent burden: 577.0

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 0.67)
• Race & ethnicity: White 40% Hispanic / Latino 38% Black 18% Two or more races 15% Asian 1%
• Hispanic origin (detail): Mexican 36%
• Common ancestry: Slovak 3% Lithuanian 2% Italian 1%
• Foreign-born: 11% · Canada, Vietnam
• Languages at home: 76% English-only · Spanish 22%

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: ▼ -69.89%
• Current HPI: 135.1511
• Rent YoY: ▲ 5.27%
• 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

+65.7% since first listed

8 events — show timeline

• 2026-06-07 Price Changed $82,000 NTREIS
• 2026-05-09 Listed $89,000 NTREIS
• 2021-09-28 Sold (Public Records) — Public Records
• 2021-09-24 Sold (MLS) — WFAOR
• 2021-07-27 Listed $75,000 WFAOR
• 2018-01-31 Sold (Public Records) — Public Records
• 2018-01-31 Sold (MLS) — WFAOR
• 2017-12-19 Listed $49,500 WFAOR

Property tax history

+4.8%/yr

Latest (2025): $1,684 · -1.4% YoY. Source: county tax records.