1800 8th St · Wichita Falls, TX 76301

$350,000

None bd · None ba · 3,202 sqft · MultiFamily public records · 337 Days on market

Built 1929 0.31 ac lot $109/sqft · at area comps

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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
• 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 (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

This property has 2 buildings 1800 8th and 1802 8th, 12 Units complex with huge upside potential. 1802 8th St. had 8 Units that have been updated with LVP, stainless appliances and mini split HVAC units. 7 0f the units are efficiency and 1 is a 2 bedroom. 1800 8th St. is 4 units that add major upside to the property once remodeled. Units are occupied and can be viewed with an executed contract. This property is part of a portfolio. Ask agent for information on full portfolio

Key facts

• 2 buildings
• 4 units
• Updated with lvp

Tags

• 2 BUILDINGS
• 12 UNITS COMPLEX
• UPDATED WITH LVP
• STAINLESS APPLIANCES
• MINI SPLIT HVAC UNITS
• 4 UNITS

What this means for you Summary

Snapshot

• This is a multifamily listed at $350k.

Deal economics

• At list price, monthly cash flow is $2k ($26k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $350k).
• Recommended offer: $308k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.9% 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 fast (+5.3%/yr); 133 active listings in the ZIP; lower-income renter base — watch delinquency; 231 units permitted in Wichita County in 2024 (10 in 5+ unit buildings).
• At $5,799/mo this rent would consume 166% of the median local household income ($42k/yr) (locally 577% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k 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 $98k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 337 days — a 12% lower offer ($308k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1929 — 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 $308,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 337 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 1929 — 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. 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.
8. 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.
9. 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: 1.66% ✓
• Cap rate: 13.86%
• Cash-on-cash: 27.02%
• DSCR: 2.20
• GRM: 5.0

CMA / ARV

• ARV (median comp): $761,780
• List price: $350,000
• Delta: -54.05%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 5.27% rent growth · sell at horizon

5-year hold

• IRR: 23.5%
• Equity multiple: 1.99×
• Total profit: $97,442
• Equity at exit: $52,186

10-year hold

• IRR: 32.8%
• Equity multiple: 4.31×
• Total profit: $324,303
• Equity at exit: $30,262

Cash invested: $98,000 (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: 40.8×

Monthly cashflow live

• Estimated rent: $5,799 medium
• Mortgage (P&I): −$1,835
• Tax from tax record: −$393 /mo · $4,718/yr
• Insurance: −$146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,218
• Net cashflow: $2,207

Break-even live

Break-even rent $3,006

Max offer price $350,000

Occupancy floor 57%

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

Units	Beds	Baths	Est. rent
▸ 7× units	1	1	$4,998
1× unit	2	1	$801
Total (8 units)			$5,799

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: $87,500
• Closing costs: $10,500
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-19
   days on market $350,000 Active 337 DOM
2. 2026-06-18
   days on market $350,000 Active 336 DOM
3. 2026-06-17
   days on market $350,000 Active 335 DOM
4. 2026-06-16
   days on market $350,000 Active 334 DOM
5. 2026-06-15
   days on market $350,000 Active 333 DOM
6. 2026-06-14
   days on market $350,000 Active 331 DOM
7. 2026-06-13
   days on market $350,000 Active 330 DOM
8. 2026-06-10
   days on market $350,000 Active 328 DOM
9. 2026-06-09
   days on market $350,000 Active 327 DOM
10. 2026-06-08
    days on market $350,000 Active 326 DOM
11. 2026-06-07
    days on market $350,000 Active 325 DOM
12. 2026-06-05
    days on market $350,000 Active 322 DOM
13. 2026-06-02
    days on market $350,000 Active 320 DOM
14. 2026-06-01
    days on market $350,000 Active 319 DOM
15. 2026-05-31
    days on market $350,000 Active 318 DOM
16. 2026-05-30
    days on market $350,000 Active 317 DOM
17. 2025-07-17
    listed $350,000 Active 484-char remark

    Show marketing remark (484 chars)

    This property has 2 buildings 1800 8th and 1802 8th, 12 Units complex with huge upside potential. 1802 8th St. had 8 Units that have been updated with LVP, stainless appliances and mini split HVAC units. 7 0f the units are efficiency and 1 is a 2 bedroom. 1800 8th St. is 4 units that add major upside to the property once remodeled. Units are occupied and can be viewed with an executed contract. This property is part of a portfolio. Ask agent for information on full portfolio

ⓘ 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: $4,718 · $393/mo
• Projected year-2 tax: $6,405 · $534/mo
• Expected delta: +$1,687/yr (+$141/mo · 35.8%)

ⓘ 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 2/10 Low
• 🌡 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: $69,588
• − Mortgage interest: −$19,605
• − Property taxes: −$4,718
• − Insurance: −$1,750
• − Repairs & maintenance: −$5,567
• − Management: −$5,567
• − Depreciation: −$10,182
• Taxable income: $22,199
• Est. tax owed @ 24.0%: −$5,328
• After-tax cash flow: $21,154/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

1 event — show timeline

• 2025-07-17 Listed $350,000 NTREIS

Property tax history

+2.8%/yr

Latest (2025): $4,718 · -1.9% YoY. Source: county tax records.