1808 Orange St

Amarillo, TX 79107

$149,999F

3 bd · 1.0 ba · 1,723 sqft · Built 1952 · SingleFamily · Active · 146 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,316/mo
• Mortgage (P&I): −$787
• Tax + insurance: −$356
• HOA: −$0
• Vac / Maint / Mgmt: −$276
• Net cashflow: $-103/mo
• Annual: $-1,232/yr
• Cap rate: 5.47%
• Cash-on-cash: -2.93%
• DSCR: 0.87
• 1% rule: 0.88%
• Cash to close: $42,000

Investor read

• This is a 3-bed/1.0-bath single-family listed at $150k.
• At list price, monthly cash flow is $-103 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $132k (12.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $132k (12.3% below list).
• It's been on market 146 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $132k (12.3% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• 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-, crime F, commute 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.
• Zoned schools: George Washington Carver Early Childhood Academy (338 students, 68% FRL); Mann Middle (math 36% / reading 29%, grade F, #947 of 1,662 statewide, top 58%, 458 students, 92% FRL); Amtech Career Academy (3 students, 0% FRL) — zoned schools at 54% FRL track the district average.
• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 120 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,214 units permitted in Potter County in 2024 (650 in 5+ unit buildings).
• This rent runs 39% of the median local income ($41k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• 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?
• It's been on market 146 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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?