1807 Collins Ave · Wichita Falls, TX 76301

$118,000

3 bd · 2.0 ba · 1,469 sqft · SingleFamily public records · 15 Days on market

Built 1945 Est $160k · 26% under

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Why this score? — see what drove the D+ 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).

• ARV discount +15.0/15.0
• Cash flow +13.3/30.0
• 1% rule +4.3/10.0
• DSCR +4.0/10.0
• 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

Listing remarks

Affordable 3-bedroom, 2-bath home at 1807 Collins Ave! Built in 1945 with original hardwood floors, a recently replaced roof, covered patio, and single-car attached garage. Great opportunity for first-time buyers or investors looking to add to their rental portfolio before data center growth reaches Wichita Falls. Centrally located with quick access to United Regional just 3 minutes away and SAFB only 12 minutes away. Zoned for Zundy Elementary, Rider Middle, and Memorial High.

Key facts

• Covered patio
• Garage
• Built 1945

Tags

• ORIGINAL HARDWOOD FLOORS
• RECENTLY REPLACED ROOF
• COVERED PATIO
• ZONED FOR ZUNDY ELEMENTARY

Property features AI

Finance

• Other: Located in the Southland subdivision

Exterior

• Parking: Attached garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story; North-facing
• Construction: Brick and aluminum siding construction; Composition roof
• Exterior features: Covered patio; Fenced yard; Irregular lot

Interior

• Flooring: Hardwood
• Heating & cooling: Central heat; Natural gas heating; Central air conditioning
• Interior features: Hardwood flooring; Central heating and cooling

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $118k.

Deal economics

• At list price, monthly cash flow is $1 ($13/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $110k (7.1% below list).
• Recommended offer: $110k (7.1% below list) — sets the bar for 1% rule.
• Cap rate 6.3% 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; 14 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; lower-income renter base — watch delinquency; 231 units permitted in Wichita County in 2024 (10 in 5+ unit buildings).
• This rent runs 31% of the median local income ($42k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $816 of loan paydown is wiped out by about $4k 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.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($116k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 6y 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 1945 — 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 $109,613 (7.1% below list)

Questions for the listing agent

1. Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.93% ✗
• Cap rate: 6.30%
• Cash-on-cash: 0.04%
• DSCR: 1.00
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $160,121
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1903 Elizabeth Ave	0.20mi	3/2.0	1,627 (+11%)	16mo	$185,000	$114	59
2006 Speedway Ave	0.62mi	2/2.0 (-1)	1,426 (-3%)	9mo	$229,900	$161	54
2168 Avenue H	0.70mi	3/2.0	1,340 (-9%)	6mo	$45,500	$34	48
1605 Collins Ave	0.52mi	4/2.0 (+1)	1,630 (+11%)	9mo	$99,900	$61	45
1665 Speedway Ave	0.64mi	3/1.0	1,372 (-7%)	15mo	$149,900	$109	43
2109 8th St	0.66mi	2/2.0 (-1)	1,377 (-6%)	17mo	$69,900	$51	40

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 · 5.27% rent growth · sell at horizon

5-year hold

• IRR: -13.5%
• Equity multiple: 0.50×
• Total profit: $-16,446
• Equity at exit: $17,594

10-year hold

• IRR: -1.2%
• Equity multiple: 0.91×
• Total profit: $-3,037
• Equity at exit: $10,202

Cash invested: $33,040 (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 76301

• Home prices YoY: -34.1%
• Rents YoY: 5.3%
• Active inventory: 133
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,096 high
• Mortgage (P&I): −$619
• Tax from tax record: −$197 /mo · $2,363/yr
• Insurance: −$49
• HOA: −$0
• Vacancy / Maint / Mgmt: −$230
• Net cashflow: $1

Break-even live

Break-even rent $1,095

Max offer price $118,000

Occupancy floor 95%

Sensitivity live

Price	-10% $68	-5% $34	+0% $1	+5% $-32	+10% $-66
Rent	-10% $-86	-5% $-42	+0% $1	+5% $44	+10% $88
Rate	-1.0pp $60	-0.5pp $31	base $1	+0.5pp $-30	+1.0pp $-61

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: $29,500
• Closing costs: $3,540
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1301 Giddings St Wichita Falls, TX	3.0	1.0	1000	$1,150	$1.15	44d	1	0.42mi
1821 9th St Unit B Wichita Falls, TX	2.0	1.0	1200	$795	$0.66	44d	1	0.44mi
1901 Giddings St Wichita Falls, TX	3.0	2.0	909	$1,175	$1.29	44d	1	0.48mi
2130 Avenue K Wichita Falls, TX	3.0	2.0	1090	$1,390	$1.28	44d	1	0.60mi
2006 Bell St Wichita Falls, TX	3.0	1.0	1120	$1,000	$0.89	44d	1	0.63mi
1507 Polk St Wichita Falls, TX	3.0	1.0	1316	$1,050	$0.80	44d	1	0.64mi
1714 7th St Wichita Falls, TX	3.0	1.0	1452	$850	$0.59	44d	1	0.69mi
1916 7th St Wichita Falls, TX	2.0	1.0	1226	$1,050	$0.86	44d	1	0.70mi
1515 Fillmore St Wichita Falls, TX	3.0	2.0	909	$1,225	$1.35	44d	1	0.80mi
1813 Polk St Wichita Falls, TX	3.0	2.0	1090	$1,364	$1.25	44d	1	0.82mi
2304 Avenue K Wichita Falls, TX	3.0	2.0	1040	$1,050	$1.01	44d	1	0.99mi
2003 Buchanan St Wichita Falls, TX	3.0	2.0	1118	$1,100	$0.98	44d	1	1.13mi
2500 Taylor St Unit 2500 Taylor A Wichita Falls, TX	2.0	1.0	910	$800	$0.88	44d	1	1.24mi
2912 Avenue L Unit L Wichita Falls, TX	2.0	1.0	1104	$895	$0.81	44d	1	1.39mi

Listing history 19 events

1. 2026-06-10
   days on market $118,000 Active 15 DOM
2. 2026-06-09
   days on market $118,000 Active 14 DOM
3. 2026-06-08
   days on market $118,000 Active 13 DOM
4. 2026-06-07
   days on market $118,000 Active 12 DOM
5. 2026-06-05
   days on market $118,000 Active 9 DOM
6. 2026-06-02
   days on market $118,000 Active 7 DOM
7. 2026-06-01
   days on market $118,000 Active 6 DOM
8. 2026-05-31
   days on market $118,000 Active 5 DOM
9. 2026-05-30
   days on market $118,000 Active 4 DOM
10. 2026-05-26
    listed $118,000 Active
11. 2025-11-09
    price $119,900
12. 2025-08-12
    price $125,000
13. 2025-03-25
    price $130,000
14. 2025-01-19
    price $136,000
15. 2020-03-31
    soldstatus
16. 2020-03-30
    soldstatus
17. 2020-02-28
    listed $64,900
18. 2015-04-06
    soldstatus
19. 2012-10-01
    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: $2,363 · $197/mo
• Projected year-2 tax: $2,363 · $197/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: $13,154
• − Mortgage interest: −$6,610
• − Property taxes: −$2,363
• − Insurance: −$590
• − Repairs & maintenance: −$1,052
• − Management: −$1,052
• − Depreciation: −$3,433
• Taxable loss: −$1,946
• Est. tax savings @ 24.0%: +$467
• After-tax cash flow: $480/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

+81.8% since first listed

10 events — show timeline

• 2026-05-26 Listed $118,000 WFAOR
• 2025-11-09 Price Changed $119,900 WFAOR
• 2025-08-12 Price Changed $125,000 WFAOR
• 2025-03-25 Price Changed $130,000 WFAOR
• 2025-01-19 Price Changed $136,000 WFAOR
• 2020-03-31 Sold (Public Records) — Public Records
• 2020-03-30 Sold (MLS) — WFAOR
• 2020-02-28 Listed $64,900 WFAOR
• 2015-04-06 Sold (Public Records) — Public Records
• 2012-10-01 Sold (Public Records) — Public Records

Property tax history

+6.7%/yr

Latest (2025): $2,363 · +28.0% YoY. Source: county tax records.