2006 Giddings St · Wichita Falls, TX 76309

$35,500

2 bd · 1.0 ba · 808 sqft · SingleFamily public records · 48 Days on market

Built 1925 6,011 sqft lot $44/sqft · 60% below area

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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 +4.6/5.0
• Livability +3.5/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Bring your ideas to this great home. Great potential and strong bones. 15 property-package offered as a bundle. 12 residential and 3 commercial, not listed here. See attached offer package with the addresses and proposal. The price for all of them combined is $575,000. A potential of over $1,200,000 ARV and a potential monthly rental income of $12,000 per month. Finaciamiento de DUENO A DUENO disponible. Terminos flexibles con 20 porciento de down. 3 commercial properties: 705 N Broadway St, 302 Jefferson St, and 709 N Broadway St. All information provided is deemed reliable but is not guaranteed and should be independently verified.

Key facts

• 6,011 sq ft lot
• Built 1925
• Listed 48 days

Property features AI

Finance

• Other: No known restrictions
• Financial info: Listing terms include 1031 exchange, cash, and owner will carry; Treat as clear loan type; No second mortgage
• HOA & community: No association

Exterior

• Parking: No garage; No covered parking; No carport; Other parking features
• Utilities: City water; City sewer; Not in a municipal utility district
• Home design: Single family residence; Residential property; One level
• Construction: Built in 1925; Siding exterior; Composition roof; Pillar/Post/Pier foundation; Other foundation details
• Exterior features: Lake pump present; No dock permitted

Interior

• Kitchen: Other appliances
• Bedrooms: 2 bedrooms (primary bedroom on level 1)
• Flooring: Hardwood flooring; Other flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Other heating; Other cooling
• Interior features: 3 total rooms; 1 living area; 1 dining area; Other interior features

🏷️ Possibly a rental listed for sale. The $35,500 price doesn't fit this home's estimated sale value (~$87,999) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $36k.

Deal economics

• At list price, monthly cash flow is $570 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $36k).
• Recommended offer: $34k (3.0% below list) — sets the bar for market timing.
• Cap rate 25.6% 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: Franklin El (math 30% / reading 31%, grade F, #2,464 of 4,322 statewide, top 58%, 451 students, 56% FRL) — zoned schools at 56% FRL track the district average.
• Market conditions: Rents rising fast (+8.3%/yr); 130 active listings in the ZIP; 21 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 $245 of loan paydown is wiped out by about $1k 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 + 8.0% rent growth), your $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($34k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 10y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1925 — 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 $34,435 (3.0% below list)

Questions for the listing agent

1. It's been on market 48 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 1925 — 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 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: 2.96% ✓
• Cap rate: 25.57%
• Cash-on-cash: 68.85%
• DSCR: 4.06
• GRM: 2.8

CMA / ARV

• ARV (median comp): $87,999
• List price: $35,500
• Delta: -59.66%
• Verdict: UNDERPRICED
• Comps: 10 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 74.0%
• Equity multiple: 4.64×
• Total profit: $36,145
• Equity at exit: $5,293

10-year hold

• IRR: 79.2%
• Equity multiple: 11.42×
• Total profit: $103,599
• Equity at exit: $3,069

Cash invested: $9,940 (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 76309

• Rents YoY: 8.3%
• Active inventory: 130
• Price-to-rent: 2.8×

Monthly cashflow live

• Estimated rent: $1,050 high
• Mortgage (P&I): −$186
• Tax from tax record: −$58 /mo · $697/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$220
• Net cashflow: $570

Break-even live

Break-even rent $328

Max offer price $35,500

Occupancy floor 41%

Sensitivity live

Price	-10% $590	-5% $580	+0% $570	+5% $560	+10% $550
Rent	-10% $487	-5% $529	+0% $570	+5% $612	+10% $653
Rate	-1.0pp $588	-0.5pp $579	base $570	+0.5pp $561	+1.0pp $552

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: $8,875
• Closing costs: $1,065
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2130 Avenue K Wichita Falls, TX	3.0	2.0	1090	$1,390	$1.28	45d	1	0.05mi
2006 Bell St Wichita Falls, TX	3.0	1.0	1120	$1,000	$0.89	45d	1	0.05mi
1901 Giddings St Wichita Falls, TX	3.0	2.0	909	$1,175	$1.29	45d	1	0.10mi
2003 Wilson Ave Unit 1/2 Wichita Falls, TX	1.0	1.0	680	$650	$0.96	45d	1	0.29mi
1813 Polk St Wichita Falls, TX	3.0	2.0	1090	$1,364	$1.25	45d	1	0.35mi
2304 Avenue K Wichita Falls, TX	3.0	2.0	1040	$1,050	$1.01	45d	1	0.45mi
1301 Giddings St Wichita Falls, TX	3.0	1.0	1000	$1,150	$1.15	45d	1	0.51mi
1710 Fillmore St Apt C Wichita Falls, TX	1.0	1.0	648	$625	$0.96	45d	1	0.52mi
1824 Collins Ave Wichita Falls, TX	1.0	1.0	750	$795	$1.06	45d	1	0.52mi
1515 Fillmore St Wichita Falls, TX	3.0	2.0	909	$1,225	$1.35	45d	1	0.53mi
2003 Buchanan St Wichita Falls, TX	3.0	2.0	1118	$1,100	$0.98	45d	1	0.67mi
2500 Taylor St Unit 2500 Taylor A Wichita Falls, TX	2.0	1.0	910	$800	$0.88	45d	1	0.67mi
2007 10th St Unit B Wichita Falls, TX	1.0	1.0	744	$750	$1.01	45d	1	0.76mi
2204 Tilden St Unit A Wichita Falls, TX	3.0	2.0	872	$930	$1.07	45d	1	0.85mi
2912 Avenue L Unit L Wichita Falls, TX	2.0	1.0	1104	$895	$0.81	45d	1	0.90mi
3014 Seymour Rd Wichita Falls, TX	1.0	1.0	686	$825	$1.20	45d	1	0.94mi
2812 Avenue R Unit R Wichita Falls, TX	2.0	1.0	1044	$925	$0.89	45d	1	1.05mi
1810 7th St Unit 1/2 Wichita Falls, TX	2.0	1.0	806	$775	$0.96	45d	1	1.13mi
504 Fillmore St Wichita Falls, TX	1.0–2.0	1.0	734	$895	$1.22	45d	6	1.14mi
1901 Wenonah Ave Unit B Wichita Falls, TX	2.0	1.0	946	$1,000	$1.06	45d	1	1.28mi
4000 Weeks Park Ln Wichita Falls, TX	1.0–3.0	1.0–2.0	870	$1,124	$1.29	45d	12	1.48mi

Listing history 28 events

1. 2026-06-22
   days on market $35,500 Active 48 DOM
2. 2026-06-19
   days on market $35,500 Active 46 DOM
3. 2026-06-18
   days on market $35,500 Active 45 DOM
4. 2026-06-17
   days on market $35,500 Active 44 DOM
5. 2026-06-16
   days on market $35,500 Active 43 DOM
6. 2026-06-15
   days on market $35,500 Active 42 DOM
7. 2026-06-14
   days on market $35,500 Active 40 DOM
8. 2026-06-13
   days on market $35,500 Active 39 DOM
9. 2026-06-10
   days on market $35,500 Active 37 DOM
10. 2026-06-09
    days on market $35,500 Active 36 DOM
11. 2026-06-08
    days on market $35,500 Active 35 DOM
12. 2026-06-07
    days on market $35,500 Active 34 DOM
13. 2026-06-05
    days on market $35,500 Active 31 DOM
14. 2026-06-02
    days on market $35,500 Active 29 DOM
15. 2026-06-01
    days on market $35,500 Active 28 DOM
16. 2026-05-31
    days on market $35,500 Active 27 DOM
17. 2026-05-30
    days on market $35,500 Active 26 DOM
18. 2026-05-04
    listed $35,500 Active 829-char remark
19. 2024-07-26
    soldstatus
20. 2023-04-25
    status Pending 652-char remark

    Show marketing remark (652 chars)

    Bring your ideas to this great home. Great potential and strong bones. 15 property-package offered as a bundle. 12 residential and 3 commercial, not listed here. See attached offer package with the addresses and proposal. The price for all of them combined is $575,000. A potential of over $1,200,000 ARV and a potential monthly rental income of $12,000 per month. Finaciamiento de DUENO A DUENO disponible. Terminos flexibles con 20 porciento de down. 3 commercial properties: 705 N Broadway St, 302 Jefferson St, and 709 N Broadway St. All information provided is deemed reliable but is not guaranteed and should be independently verified.

21. 2023-04-25
    soldstatus Closed 652-char remark

    Show marketing remark (652 chars)

    Bring your ideas to this great home. Great potential and strong bones. 15 property-package offered as a bundle. 12 residential and 3 commercial, not listed here. See attached offer package with the addresses and proposal. The price for all of them combined is $575,000. A potential of over $1,200,000 ARV and a potential monthly rental income of $12,000 per month. Finaciamiento de DUENO A DUENO disponible. Terminos flexibles con 20 porciento de down. 3 commercial properties: 705 N Broadway St, 302 Jefferson St, and 709 N Broadway St. All information provided is deemed reliable but is not guaranteed and should be independently verified.

22. 2023-02-09
    listed $49,900 Active 652-char remark

    Show marketing remark (652 chars)

    Bring your ideas to this great home. Great potential and strong bones. 15 property-package offered as a bundle. 12 residential and 3 commercial, not listed here. See attached offer package with the addresses and proposal. The price for all of them combined is $575,000. A potential of over $1,200,000 ARV and a potential monthly rental income of $12,000 per month. Finaciamiento de DUENO A DUENO disponible. Terminos flexibles con 20 porciento de down. 3 commercial properties: 705 N Broadway St, 302 Jefferson St, and 709 N Broadway St. All information provided is deemed reliable but is not guaranteed and should be independently verified.

23. 2022-11-29
    historical
24. 2022-08-15
    listed $49,900 Active
25. 2016-10-13
    soldstatus
26. 2016-10-13
    soldstatus
27. 2016-09-01
    listed $16,900
28. 2015-10-21
    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: $697 · $58/mo
• Projected year-2 tax: $697 · $58/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 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: $12,598
• − Mortgage interest: −$1,989
• − Property taxes: −$697
• − Insurance: −$178
• − Repairs & maintenance: −$1,008
• − Management: −$1,008
• − Depreciation: −$1,033
• Taxable income: $6,687
• Est. tax owed @ 24.0%: −$1,605
• After-tax cash flow: $5,239/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): 13,395
• Household income: $54,159
• Rent vs Own: 42.7% rent · 57.3% own
• Severe rent burden: 469.0

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 0.57)
• Race & ethnicity: White 58% Hispanic / Latino 29% Two or more races 12% Black 6% Asian 2% Native American 2%
• Hispanic origin (detail): Mexican 27%
• Common ancestry: Lithuanian 1% Romanian 1% Portuguese 1%
• Foreign-born: 7% · Canada, Vietnam, Jamaica
• Languages at home: 82% English-only · Spanish 15% Vietnamese 1% French/Haitian/Cajun 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: ▼ -88.35%
• Current HPI: 137.2935
• Rent YoY: ▲ 8.33%
• 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

+110.1% since first listed

11 events — show timeline

• 2026-05-04 Listed $35,500 NTREIS
• 2024-07-26 Sold (Public Records) — Public Records
• 2023-04-25 Pending — NTREIS
• 2023-04-25 Sold (MLS) — NTREIS
• 2023-02-09 Listed $49,900 NTREIS
• 2022-11-29 Listing Removed — NTREIS
• 2022-08-15 Listed $49,900 NTREIS
• 2016-10-13 Sold (Public Records) — Public Records
• 2016-10-13 Sold (MLS) — WFAOR
• 2016-09-01 Listed $16,900 WFAOR
• 2015-10-21 Sold (Public Records) — Public Records

Property tax history

+6.3%/yr

Latest (2025): $697 · +1.1% YoY. Source: county tax records.