7806 Covington Pkwy · Amarillo, TX 79121

$485,000

5 bd · 3.0 ba · 3,251 sqft · SingleFamily public records · 52 Days on market

Built 1993

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Why this score? — see what drove the C 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 +23.5/30.0
• DSCR +7.5/10.0
• ARV discount +7.5/15.0
• 1% rule +6.5/10.0
• Schools +3.6/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Don't miss this amazing 5/3/2! Updates galore! New windows with low E glass, new custom finished entry door with decorative iron and transom arch and new solid wood interior doors with new hardware. Master bath has been completely remodeled with with a spa like shower with multiple spray heads and rain shower head. Dog run has new synthetic turf with custom irrigation system. Driveway is secured with solar powered automatic gate that enlarges the backyard and entertainment area. Plenty of concrete space for extra parking or basketball. Quality and functionality abounds in this home. Rooms are designed to be multifunctional with isolated master and guest room.

Key facts

• Formal dining room
• Backyard patio
• Electric gate

Tags

• 2 LIVING AREAS
• FORMAL DINING ROOM
• LARGE KITCHEN
• BACKYARD PATIO
• ELECTRIC GATE

Property features AI

Exterior

• Parking: Attached garage with 2 parking spaces
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One level
• Construction: Brick construction; Slab foundation
• Exterior features: Located in SW Amarillo (inside city limits)

Interior

• Kitchen: Double oven; Cooktop
• Bathrooms: Two full bathrooms; One three-quarter bathroom
• Interior features: Fireplace in the family room; Double oven; Cooktop

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath single-family listed at $485k.

Deal economics

• At list price, monthly cash flow is $901 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $485k).
• Recommended offer: $470k (3.0% below list) — sets the bar for market timing.

Location & tenants

• 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: Sleepy Hollow El (math 72% / reading 66%, grade A-, #168 of 4,322 statewide, top 4%, 517 students, 31% FRL); Bonham Middle (math 61% / reading 49%, grade B-, #248 of 1,662 statewide, top 15%, 867 students, 37% FRL); Amarillo H S (math 55% / reading 64%, grade C+, #275 of 1,632 statewide, top 19%, 2,170 students, 34% FRL) — zoned schools average 34% FRL vs 58% district-wide (24 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 61% at this address vs 42% district-wide (+19 pts) — the actual schools serving this property are materially stronger than the Amarillo ISD average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 39 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 45 units permitted in Randall County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $15k of value loss. Plan a longer hold.
• Randall County population projected at +36% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($470k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 13y ago; this cycle's ask has dropped $45k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $470,450 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.15% ✓
• Cap rate: 8.52%
• Cash-on-cash: 7.96%
• DSCR: 1.35
• GRM: 7.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -4.1%
• Equity multiple: 0.85×
• Total profit: $-21,014
• Equity at exit: $72,315

10-year hold

• IRR: 5.6%
• Equity multiple: 1.42×
• Total profit: $56,361
• Equity at exit: $41,934

Cash invested: $135,800 (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 79121

• Active inventory: 39
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $5,595 medium
• Mortgage (P&I): −$2,543
• Tax from tax record: −$773 /mo · $9,282/yr
• Insurance: −$202
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,175
• Net cashflow: $901

Break-even live

Break-even rent $4,454

Max offer price $485,000

Occupancy floor 79%

Sensitivity live

Price	-10% $1,176	-5% $1,038	+0% $901	+5% $764	+10% $627
Rent	-10% $459	-5% $680	+0% $901	+5% $1,122	+10% $1,343
Rate	-1.0pp $1,145	-0.5pp $1,024	base $901	+0.5pp $775	+1.0pp $648

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: $121,250
• Closing costs: $14,550
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7501 Continental Pkwy Amarillo, TX	5.0	3.0	3418	$5,595	$1.64	21d	1	1.02mi

Listing history 28 events

1. 2026-06-18
   price $485,000 Active 52 DOM
2. 2026-06-18
   days on market $510,000 Active 52 DOM
3. 2026-06-17
   days on market $510,000 Active 51 DOM
4. 2026-06-16
   days on market $510,000 Active 50 DOM
5. 2026-06-15
   days on market $510,000 Active 49 DOM
6. 2026-06-14
   days on market $510,000 Active 47 DOM
7. 2026-06-13
   days on market $510,000 Active 46 DOM
8. 2026-06-10
   days on market $510,000 Active 44 DOM
9. 2026-06-09
   days on market $510,000 Active 43 DOM
10. 2026-06-08
    days on market $510,000 Active 42 DOM
11. 2026-06-07
    days on market $510,000 Active 41 DOM
12. 2026-06-03
    days on market $510,000 Active 37 DOM
13. 2026-06-03
    price $510,000 Active 36 DOM
14. 2026-06-02
    days on market $520,000 Active 36 DOM
15. 2026-06-01
    days on market $520,000 Active 35 DOM
16. 2026-05-31
    days on market $520,000 Active 34 DOM
17. 2026-05-30
    days on market $520,000 Active 33 DOM
18. 2026-05-18
    price $520,000 370-char remark
19. 2026-04-28
    listed $530,000 Active 370-char remark
20. 2015-07-29
    soldstatus
21. 2015-07-24
    soldstatus 668-char remark

    Show marketing remark (668 chars)

    Don't miss this amazing 5/3/2! Updates galore! New windows with low E glass, new custom finished entry door with decorative iron and transom arch and new solid wood interior doors with new hardware. Master bath has been completely remodeled with with a spa like shower with multiple spray heads and rain shower head. Dog run has new synthetic turf with custom irrigation system. Driveway is secured with solar powered automatic gate that enlarges the backyard and entertainment area. Plenty of concrete space for extra parking or basketball. Quality and functionality abounds in this home. Rooms are designed to be multifunctional with isolated master and guest room.

22. 2015-04-09
    listed $364,900 668-char remark

    Show marketing remark (668 chars)

    Don't miss this amazing 5/3/2! Updates galore! New windows with low E glass, new custom finished entry door with decorative iron and transom arch and new solid wood interior doors with new hardware. Master bath has been completely remodeled with with a spa like shower with multiple spray heads and rain shower head. Dog run has new synthetic turf with custom irrigation system. Driveway is secured with solar powered automatic gate that enlarges the backyard and entertainment area. Plenty of concrete space for extra parking or basketball. Quality and functionality abounds in this home. Rooms are designed to be multifunctional with isolated master and guest room.

23. 2013-07-19
    soldstatus

    Show marketing remark (339 chars)

    Fabulous floor plan with two living areas, 5 bedrooms, and 3 baths, updated kitchen w/ granite countertops and stainless steel appliances, oversized garage w/ extra parking. Wonderful location on a quiet cul-de-sac street. Two patios, formal dining and informal dining in great room. Open floor plan and abundant storage. See Virtual Tour.

24. 2013-07-19
    soldstatus

    Show marketing remark (339 chars)

    Fabulous floor plan with two living areas, 5 bedrooms, and 3 baths, updated kitchen w/ granite countertops and stainless steel appliances, oversized garage w/ extra parking. Wonderful location on a quiet cul-de-sac street. Two patios, formal dining and informal dining in great room. Open floor plan and abundant storage. See Virtual Tour.

25. 2013-04-10
    listed $299,900

    Show marketing remark (339 chars)

    Fabulous floor plan with two living areas, 5 bedrooms, and 3 baths, updated kitchen w/ granite countertops and stainless steel appliances, oversized garage w/ extra parking. Wonderful location on a quiet cul-de-sac street. Two patios, formal dining and informal dining in great room. Open floor plan and abundant storage. See Virtual Tour.

26. 2008-05-06
    soldstatus
27. 2008-02-14
    soldstatus
28. 1994-02-05
    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: $9,282 · $773/mo
• Projected year-2 tax: $9,282 · $773/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 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥97°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $67,140
• − Mortgage interest: −$27,168
• − Property taxes: −$9,282
• − Insurance: −$2,425
• − Repairs & maintenance: −$5,371
• − Management: −$5,371
• − Depreciation: −$14,109
• Taxable income: $3,414
• Est. tax owed @ 24.0%: −$819
• After-tax cash flow: $9,994/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: Amarillo ISD
• NCES district ID: 4808130
• Math proficiency: 44% ▼ -9.00%
• Reading proficiency: 41% ▼ -3.00%
• Median HH income: $43,478
• Composite: 35.96/100
• National rank: #4798
• State rank: #336 of 826 in TX

Livability — Amarillo

• Score: 66/100
• State rank: #624
• US rank: #11876

Category grades

Amenities C- Commute F Cost of living A+ Crime F Employment C Housing A+ Health & safety F User ratings B-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Amarillo, TX
• City population: 185,802
• Population (ZIP): 5,879

Population outlook (Randall County) Hauer SSP2

• Today (2025): 152,140 people
• By 2030: 163,107 · +7.2%
• By 2040: 184,999 · +21.6%
• By 2050: 206,948 · +36.0%
• By 2075: 260,204 · +71.0%
• By 2100: 294,980 · +93.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Hispanic / Latino 16% Two or more races 12% Asian 6% Black 3%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Italian 5% Slovak 3% Lithuanian 2%
• Foreign-born: 6% · Vietnam, Canada, Jamaica
• Languages at home: 85% English-only · Spanish 8% Vietnamese 4% Other Indo-European 1%

Political lean MEDSL · Randall

• 2024 margin: Solid R (+60.4) · D 19.4% · R 79.8%
• 2008→2024 swing: +2.3pp toward D · 2008: -62.7pp · 2024: -60.4pp
• All cycles: 2024: R+60.4 2020: R+58.8 2016: R+65.1 2012: R+68.2 2008: R+62.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -151.82%
• Current HPI: 167.7934
• Rent YoY: —
• Metro: —
• 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

+61.7% since first listed

13 events — show timeline

• 2026-06-17 Price Changed $485,000 AARMLS
• 2026-06-02 Price Changed $510,000 AARMLS
• 2026-05-18 Price Changed $520,000 AARMLS
• 2026-04-28 Listed $530,000 AARMLS
• 2015-07-29 Sold (Public Records) — Public Records
• 2015-07-24 Sold (MLS) — AARMLS
• 2015-04-09 Listed $364,900 AARMLS
• 2013-07-19 Sold (Public Records) — Public Records
• 2013-07-19 Sold (MLS) — AARMLS
• 2013-04-10 Listed $299,900 AARMLS
• 2008-05-06 Sold (Public Records) — Public Records
• 2008-02-14 Sold (Public Records) — Public Records
• 1994-02-05 Sold (MLS) — AARMLS

Property tax history

+3.9%/yr

Latest (2025): $9,282 · +11.7% YoY. Source: county tax records.