1512 N 6th St · Wichita Falls, TX 76306

$43,000

3 bd · 1.0 ba · 920 sqft · SingleFamily public records · 45 Days on market

Built 1949 7,013 sqft lot $47/sqft · 45% below area Est $78k · 45% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.5/5.0
• Rent growth +3.2/5.0
• 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

• 7,013 sq ft lot
• Parking
• Built 1949

Property features AI

Finance

• Other: Listing status: Active; Possession at closing/funding; Listing agreement: Exclusive right to sell; Special listing conditions: Standard
• Financial info: Sale terms: Cash or owner will carry; Loan type: Treat as clear; No second mortgage reported
• HOA & community: No HOA / association

Exterior

• Parking: Covered parking; 1 covered space; 1 carport space (carport)
• Security: Security features: Unknown/Other
• Utilities: City water; City sewer; Not in a municipal utility district
• Home design: Single-family residence; Residential property; Built in 1949; Not attached to another unit; No accessory unit
• Construction: Siding exterior; Composition/shingle roof; Other foundation details
• Exterior features: Lot under 0.5 acre (approx. 0.161 acres); No easements reported; Subdivision: Scotland

Interior

• Kitchen: Other appliances
• Bedrooms: 2 bedrooms (primary bedroom on level 1, approx. 10 x 12)
• Flooring: Hardwood flooring; Other flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Heating: Other; Cooling: Other
• Interior features: One-level layout; 1 living area; 1 dining area; Room count: 2; Other interior features
• Laundry & utility: Laundry: Other or none

🏷️ Possibly a rental listed for sale. The $43,000 price doesn't fit this home's estimated sale value (~$77,582) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $43k.

Deal economics

• At list price, monthly cash flow is $597 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $43k).
• Recommended offer: $42k (3.0% below list) — sets the bar for market timing.
• Cap rate 23.0% 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: Scotland Park El (math 20% / reading 24%, grade F, #3,333 of 4,322 statewide, top 80%, 473 students, 92% FRL) — zoned schools average 92% FRL vs 54% district-wide (39 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.8%/yr); 114 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 45d 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 $297 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 + 2.8% rent growth), your $12k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($42k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y 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 1949 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk; major wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $41,710 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 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 1949 — 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: 2.62% ✓
• Cap rate: 22.96%
• Cash-on-cash: 59.52%
• DSCR: 3.65
• GRM: 3.2

CMA / ARV

• ARV (median comp): $77,582
• List price: $43,000
• Delta: -44.58%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1509 N 7th St	0.04mi	2/1.0 (-1)	869 (-6%)	6mo	$50,000	$58	78

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 2.81% rent growth · sell at horizon

5-year hold

• IRR: 58.0%
• Equity multiple: 3.56×
• Total profit: $30,868
• Equity at exit: $6,411

10-year hold

• IRR: 62.8%
• Equity multiple: 7.23×
• Total profit: $75,036
• Equity at exit: $3,718

Cash invested: $12,040 (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 76306

• Home prices YoY: -30.1%
• Rents YoY: 2.8%
• Active inventory: 114
• Price-to-rent: 3.2×

Monthly cashflow live

• Estimated rent: $1,125 medium
• Mortgage (P&I): −$225
• Tax from tax record: −$48 /mo · $575/yr
• Insurance: −$18
• HOA: −$0
• Vacancy / Maint / Mgmt: −$236
• Net cashflow: $597

Break-even live

Break-even rent $369

Max offer price $43,000

Occupancy floor 42%

Sensitivity live

Price	-10% $622	-5% $609	+0% $597	+5% $585	+10% $573
Rent	-10% $508	-5% $553	+0% $597	+5% $642	+10% $686
Rate	-1.0pp $619	-0.5pp $608	base $597	+0.5pp $586	+1.0pp $575

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: $10,750
• Closing costs: $1,290
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
504 Fillmore St Wichita Falls, TX	1.0–2.0	1.0	734	$895	$1.22	44d	6	0.96mi
1810 7th St Unit 1/2 Wichita Falls, TX	2.0	1.0	806	$775	$0.96	44d	1	1.00mi
1200 Ridgeway Dr Wichita Falls, TX	1.0–3.0	1.0–2.0	889	$1,025	$1.15	44d	5	1.41mi
2801 Roanoke Dr Unit B Wichita Falls, TX	3.0	2.0	876	$990	$1.13	44d	1	1.44mi

Listing history 25 events

1. 2026-06-19
   days on market $43,000 Active 45 DOM
2. 2026-06-18
   days on market $43,000 Active 44 DOM
3. 2026-06-17
   days on market $43,000 Active 43 DOM
4. 2026-06-16
   days on market $43,000 Active 42 DOM
5. 2026-06-15
   days on market $43,000 Active 41 DOM
6. 2026-06-14
   days on market $43,000 Active 39 DOM
7. 2026-06-13
   days on market $43,000 Active 38 DOM
8. 2026-06-10
   days on market $43,000 Active 36 DOM
9. 2026-06-09
   days on market $43,000 Active 35 DOM
10. 2026-06-08
    days on market $43,000 Active 34 DOM
11. 2026-06-07
    days on market $43,000 Active 33 DOM
12. 2026-06-05
    days on market $43,000 Active 30 DOM
13. 2026-06-02
    days on market $43,000 Active 28 DOM
14. 2026-06-01
    days on market $43,000 Active 27 DOM
15. 2026-05-31
    days on market $43,000 Active 26 DOM
16. 2026-05-30
    days on market $43,000 Active 25 DOM
17. 2026-05-05
    listed $43,000 Active 829-char remark
18. 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.

19. 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.

20. 2023-02-09
    listed $39,800 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.

21. 2022-11-29
    historical
22. 2022-10-05
    price $39,800
23. 2022-08-15
    listed $39,900 Active
24. 2022-07-25
    soldstatus
25. 2008-02-21
    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: $575 · $48/mo
• Projected year-2 tax: $787 · $66/mo
• Expected delta: +$212/yr (+$18/mo · 36.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 51% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 20 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 9% 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: $13,497
• − Mortgage interest: −$2,409
• − Property taxes: −$575
• − Insurance: −$215
• − Repairs & maintenance: −$1,080
• − Management: −$1,080
• − Depreciation: −$1,251
• Taxable income: $6,888
• Est. tax owed @ 24.0%: −$1,653
• After-tax cash flow: $5,514/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): 13,963
• Household income: $46,957
• Rent vs Own: 41.4% rent · 58.6% own
• Severe rent burden: 235.0

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 0.59)
• Race & ethnicity: White 58% Hispanic / Latino 21% Black 16% Two or more races 9% Asian 2%
• Hispanic origin (detail): Mexican 18% Cuban 1%
• Common ancestry: Italian 2% Serbian 1% Slovak 1%
• Foreign-born: 6% · Canada
• Languages at home: 88% English-only · Spanish 8% Tagalog/Filipino 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: ▼ -71.29%
• Current HPI: 165.6314
• Rent YoY: ▲ 2.81%
• 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

+7.8% since first listed

9 events — show timeline

• 2026-05-05 Listed $43,000 NTREIS
• 2023-04-25 Pending — NTREIS
• 2023-04-25 Sold (MLS) — NTREIS
• 2023-02-09 Listed $39,800 NTREIS
• 2022-11-29 Listing Removed — NTREIS
• 2022-10-05 Price Changed $39,800 NTREIS
• 2022-08-15 Listed $39,900 NTREIS
• 2022-07-25 Sold (Public Records) — Public Records
• 2008-02-21 Sold (Public Records) — Public Records

Property tax history

+4.6%/yr

Latest (2025): $575 · -0.7% YoY. Source: county tax records.