408 W Oklahoma Ave · Wheeler, TX 79096

$89,900

2 bd · 2.5 ba · 2,076 sqft · SingleFamily public records · 136 Days on market

Built 1930 1.05 ac lot $43/sqft · 37% below area Est $167k · 46% under

---

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 +24.7/30.0
• ARV discount +15.0/15.0
• DSCR +8.0/10.0
• 1% rule +6.4/10.0
• Appreciation +6.0/10.0
• Schools +4.5/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Set on 1.05 acres, this fixer-upper offers a rare opportunity to create your dream property with room to grow. The home features 2 bedrooms and 3 bathrooms, providing a flexible layout with plenty of potential for customization. A wood-burning stove adds rustic charm and warmth, while the oversized garage is ideal for a workshop, hobby space, or additional storage. With generous land, and endless possibilities, this property is perfect for buyers looking to renovate, invest, or build equity in a spacious setting. This home is being sold AS IS. Make an appointment to see it today.

Key facts

• Wood-burning stove
• Generous land
• Oversized garage

Tags

• WOOD-BURNING STOVE
• OVERSIZED GARAGE
• GENEROUS LAND

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $188 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $79k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 64/100 on livability (#789 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: employment D, schools D-, amenities F.
• Wheeler ISD (rural): math 55% / reading 51% proficiency, ranked #130 of 826 in TX (top 16%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 29 active listings in the ZIP.

Forward outlook

• In year one you build about $2k of equity ($622 loan paydown + $2k appreciation (2.0% local appreciation)).
• Wheeler County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (2.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 136 days — a 12% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 7y ago; this cycle's ask has dropped $10k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $79,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 136 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 1930 — 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. 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: 1.14% ✓
• Cap rate: 8.80%
• Cash-on-cash: 8.95%
• DSCR: 1.40
• GRM: 7.3

CMA / ARV

• ARV (median comp): $167,083
• List price: $89,900
• Delta: -46.19%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

1.98% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 13.3%
• Equity multiple: 1.72×
• Total profit: $18,056
• Equity at exit: $35,369

10-year hold

• IRR: 16.0%
• Equity multiple: 3.13×
• Total profit: $53,714
• Equity at exit: $50,863

Cash invested: $25,172 (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 79096

• Home prices YoY: 2.3%
• Active inventory: 29
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,024 medium
• Mortgage (P&I): −$471
• Tax est. 1.5%: −$112 /mo · $1,348/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$215
• Net cashflow: $188

Break-even live

Break-even rent $786

Max offer price $89,900

Occupancy floor 77%

Sensitivity live

Price	-10% $250	-5% $219	+0% $188	+5% $157	+10% $126
Rent	-10% $107	-5% $147	+0% $188	+5% $228	+10% $269
Rate	-1.0pp $233	-0.5pp $211	base $188	+0.5pp $165	+1.0pp $141

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-21
   days on market $89,900 Active 136 DOM
2. 2026-06-18
   days on market $89,900 Active 134 DOM
3. 2026-06-17
   days on market $89,900 Active 133 DOM
4. 2026-06-16
   days on market $89,900 Active 132 DOM
5. 2026-06-15
   days on market $89,900 Active 131 DOM
6. 2026-06-15
   days on market $89,900 Active 130 DOM
7. 2026-06-13
   days on market $89,900 Active 129 DOM
8. 2026-06-12
   days on market $89,900 Active 128 DOM
9. 2026-06-09
   days on market $89,900 Active 125 DOM
10. 2026-06-08
    days on market $89,900 Active 124 DOM
11. 2026-06-08
    days on market $89,900 Active 123 DOM
12. 2026-06-07
    pricedays on market $89,900 Active 122 DOM
13. 2026-06-03
    days on market $100,000 Active 119 DOM
14. 2026-06-02
    days on market $100,000 Active 118 DOM
15. 2026-06-01
    days on market $100,000 Active 117 DOM
16. 2026-05-31
    days on market $100,000 Active 116 DOM
17. 2026-05-08
    status Active 586-char remark

    Show marketing remark (586 chars)

    Set on 1.05 acres, this fixer-upper offers a rare opportunity to create your dream property with room to grow. The home features 2 bedrooms and 3 bathrooms, providing a flexible layout with plenty of potential for customization. A wood-burning stove adds rustic charm and warmth, while the oversized garage is ideal for a workshop, hobby space, or additional storage. With generous land, and endless possibilities, this property is perfect for buyers looking to renovate, invest, or build equity in a spacious setting. This home is being sold AS IS. Make an appointment to see it today.

18. 2026-05-06
    historical Active Under Contract 586-char remark

    Show marketing remark (586 chars)

    Set on 1.05 acres, this fixer-upper offers a rare opportunity to create your dream property with room to grow. The home features 2 bedrooms and 3 bathrooms, providing a flexible layout with plenty of potential for customization. A wood-burning stove adds rustic charm and warmth, while the oversized garage is ideal for a workshop, hobby space, or additional storage. With generous land, and endless possibilities, this property is perfect for buyers looking to renovate, invest, or build equity in a spacious setting. This home is being sold AS IS. Make an appointment to see it today.

19. 2026-04-16
    status Active 586-char remark

    Show marketing remark (586 chars)

    Set on 1.05 acres, this fixer-upper offers a rare opportunity to create your dream property with room to grow. The home features 2 bedrooms and 3 bathrooms, providing a flexible layout with plenty of potential for customization. A wood-burning stove adds rustic charm and warmth, while the oversized garage is ideal for a workshop, hobby space, or additional storage. With generous land, and endless possibilities, this property is perfect for buyers looking to renovate, invest, or build equity in a spacious setting. This home is being sold AS IS. Make an appointment to see it today.

20. 2026-04-12
    historical Active Under Contract 586-char remark

    Show marketing remark (586 chars)

    Set on 1.05 acres, this fixer-upper offers a rare opportunity to create your dream property with room to grow. The home features 2 bedrooms and 3 bathrooms, providing a flexible layout with plenty of potential for customization. A wood-burning stove adds rustic charm and warmth, while the oversized garage is ideal for a workshop, hobby space, or additional storage. With generous land, and endless possibilities, this property is perfect for buyers looking to renovate, invest, or build equity in a spacious setting. This home is being sold AS IS. Make an appointment to see it today.

21. 2026-02-04
    listed $100,000 Active 586-char remark

    Show marketing remark (586 chars)

    Set on 1.05 acres, this fixer-upper offers a rare opportunity to create your dream property with room to grow. The home features 2 bedrooms and 3 bathrooms, providing a flexible layout with plenty of potential for customization. A wood-burning stove adds rustic charm and warmth, while the oversized garage is ideal for a workshop, hobby space, or additional storage. With generous land, and endless possibilities, this property is perfect for buyers looking to renovate, invest, or build equity in a spacious setting. This home is being sold AS IS. Make an appointment to see it today.

22. 2019-08-16
    soldstatus 571-char remark

    Show marketing remark (571 chars)

    WHEELER, TEXAS HUD HOME FOR SALE ''AS IS'' ELECTRONIC BID CASE 494417152 BUYER TO VERIFY ALL INFORMATION SQUARE FOOTAGE DEEMED RELIABLE BUT NOT GUARANTEED BID AND PROPERTY DETAILS www. RE-GLOBAL.com Unique Property with 2 Bedrooms 2.5 Baths, 2 Living Areas, Office and Counter Space not to mention a Loft Area with Access in Front Living Area. The Kitchen and Dining Combo has a Free Standing Fireplace and Patio Doors to the Spacious Fenced in Back Yard. The (2) Car (1) Truck (RV) Attached Garage with Exterior Brick Complete this Property. Make the Call Today to View

23. 2019-08-07
    soldstatus
24. 2019-03-28
    listed $56,200 571-char remark

    Show marketing remark (571 chars)

    WHEELER, TEXAS HUD HOME FOR SALE ''AS IS'' ELECTRONIC BID CASE 494417152 BUYER TO VERIFY ALL INFORMATION SQUARE FOOTAGE DEEMED RELIABLE BUT NOT GUARANTEED BID AND PROPERTY DETAILS www. RE-GLOBAL.com Unique Property with 2 Bedrooms 2.5 Baths, 2 Living Areas, Office and Counter Space not to mention a Loft Area with Access in Front Living Area. The Kitchen and Dining Combo has a Free Standing Fireplace and Patio Doors to the Spacious Fenced in Back Yard. The (2) Car (1) Truck (RV) Attached Garage with Exterior Brick Complete this Property. Make the Call Today to View

25. 2019-03-28
    listed $56,200

    Show marketing remark (571 chars)

    WHEELER, TEXAS HUD HOME FOR SALE ''AS IS'' ELECTRONIC BID CASE 494417152 BUYER TO VERIFY ALL INFORMATION SQUARE FOOTAGE DEEMED RELIABLE BUT NOT GUARANTEED BID AND PROPERTY DETAILS www. RE-GLOBAL.com Unique Property with 2 Bedrooms 2.5 Baths, 2 Living Areas, Office and Counter Space not to mention a Loft Area with Access in Front Living Area. The Kitchen and Dining Combo has a Free Standing Fireplace and Patio Doors to the Spacious Fenced in Back Yard. The (2) Car (1) Truck (RV) Attached Garage with Exterior Brick Complete this Property. Make the Call Today to View

26. 2005-04-18
    soldstatus
27. 2004-09-07
    soldstatus
28. 2004-04-22
    soldstatus

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $12,290
• − Mortgage interest: −$5,036
• − Property taxes: −$1,348
• − Insurance: −$450
• − Repairs & maintenance: −$983
• − Management: −$983
• − Depreciation: −$2,615
• Taxable income: $874
• Est. tax owed @ 24.0%: −$210
• After-tax cash flow: $2,044/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: Wheeler ISD
• NCES district ID: 4845420
• Math proficiency: 55% ▲ 6.00%
• Reading proficiency: 51% ▲ 5.00%
• Median HH income: $51,840
• Composite: 45.48/100
• National rank: #2613
• State rank: #130 of 826 in TX

Livability — Wheeler

• Score: 64/100
• State rank: #789
• US rank: #14423

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wheeler, TX
• Population (ZIP): 2,022

Population outlook (Wheeler County) Hauer SSP2

• Today (2025): 6,212 people
• By 2030: 6,519 · +4.9%
• By 2040: 7,210 · +16.1%
• By 2050: 7,953 · +28.0%
• By 2075: 9,663 · +55.6%
• By 2100: 10,059 · +61.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Hispanic / Latino 23% Two or more races 3% Asian 1% Black 1%
• Hispanic origin (detail): Mexican 20% Cuban 1%
• Common ancestry: Iranian 7% Lithuanian 2% Scotch-Irish 2%
• Foreign-born: 7% · Canada
• Languages at home: 81% English-only · Spanish 19%

Political lean MEDSL · Wheeler

• 2024 margin: Solid R (+84.7) · D 7.4% · R 92.1%
• 2008→2024 swing: -13.2pp toward R · 2008: -71.4pp · 2024: -84.7pp
• All cycles: 2024: R+84.7 2020: R+85.2 2016: R+82.1 2012: R+77.3 2008: R+71.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.98%
• Current HPI: 86.647
• 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

+77.9% since first listed

12 events — show timeline

• 2026-05-08 Relisted — AARMLS
• 2026-05-06 Contingent — AARMLS
• 2026-04-16 Relisted — AARMLS
• 2026-04-12 Contingent — AARMLS
• 2026-02-04 Listed $100,000 AARMLS
• 2019-08-16 Sold (MLS) — AARMLS
• 2019-08-07 Sold (MLS) — PBOR
• 2019-03-28 Listed $56,200 PBOR
• 2019-03-28 Listed $56,200 AARMLS
• 2005-04-18 Sold (Public Records) — Public Records
• 2004-09-07 Sold (Public Records) — Public Records
• 2004-04-22 Sold (Public Records) — Public Records

Property tax history

+14.8%/yr

Latest (2025): $4,748 · -0.2% YoY. Source: county tax records.