901 Bessie St · Fort Worth, TX 76104

$469,000

8 bd · 4.0 ba · 2,856 sqft · MultiFamily · 23 Days on market

Built 1966 Good condition 5,489 sqft lot Est $468k · at est. ↓ 5% since listing

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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 +26.8/30.0
• DSCR +9.2/10.0
• ARV discount +7.4/15.0
• 1% rule +7.2/10.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• Rent growth +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Renovated quadplex in Fort Worth’s Historic Southside, positioned in a high-growth corridor near the future National Juneteenth Museum and a planned $63M mixed-use development breaking ground Summer 2026. Each 2-bedroom, 1-bath unit has been updated since 2020, including improvements to electrical, plumbing, and HVAC systems. New TPO roof with 5-year warranty installed March 2026. Unit 101 is currently leased at $1,350 per month and Unit 205 is leased at $1,250 per month. Electricity is separately metered and tenant-paid. On-site laundry with coin-operated washer and dryer. Ideal for investors seeking long-term appreciation potential and proximity to downtown Fort Worth’s ongoin

Key facts

• New tpo roof
• High-growth corridor
• Renovated quadplex

Tags

• RENOVATED QUADPLEX
• HISTORIC SOUTHSIDE
• HIGH-GROWTH CORRIDOR
• UPDATED MAJOR SYSTEMS
• NEW TPO ROOF
• SEPARATELY METERED ELECTRICITY

Property features AI

Finance

• Other: Standard listing conditions; Possession may be at closing/funding or with lease outstanding
• Financial info: Listed for 1031 exchange, cash, or conventional terms; Currently shown with no reported gross annual income or expenses (multifamily unit count: 4 units)
• HOA & community: No homeowners association

Exterior

• Parking: 4 parking spaces (assigned, off-street, outside, parking lot); No garage or carport
• Utilities: City water; City sewer; Electricity connected; Cable available; Municipal utility district not present
• Home design: Residential income property; Quadruplex; Flat roof; Entry on multiple levels
• Construction: Brick construction; Slab foundation; Built in 1966
• Exterior features: Chain link fencing; Street parking and off-street parking available

Interior

• Kitchen: Dishwasher; Electric range; Microwave
• Bedrooms: 8 bedrooms
• Flooring: Carpet; Ceramic tile; Laminate
• Bathrooms: 4 full bathrooms
• Heating & cooling: Central heating (electric); Central air; Ceiling fans
• Interior features: Cable TV available; Two-level layout
• Laundry & utility: Master water meter

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.0-bath units multifamily listed at $469k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $321/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $469k).
• Recommended offer: $462k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.6% vs local median 3.9% in Fort Worth — 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 80/100 on livability (#49 in TX, #1,954 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, cost of living A+, housing A+; Watch: crime F.
• Fort Worth ISD (urban): math 18% / reading 28% proficiency, ranked #742 of 826 in TX (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 73% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Van Zandt-Guinn El (math 12% / reading 22%, grade F, #3,836 of 4,322 statewide, top 91%, 338 students, 97% FRL) — zoned schools average 97% FRL vs 73% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 176 active listings in the ZIP; 18,938 units permitted in Tarrant County in 2024 (8,336 in 5+ unit buildings).
• At $5,730/mo this rent would consume 112% of the median local household income ($62k/yr) (locally 1060% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $14k of value loss. Plan a longer hold.
• Tarrant County population projected at +41% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($462k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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

• Climate carrying-cost: extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $461,965 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.22% ✓
• Cap rate: 9.58%
• Cash-on-cash: 11.75%
• DSCR: 1.52
• GRM: 6.8

CMA / ARV

• ARV (on-the-fly): $468,384
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
901 Bessie St	0.00mi	8/4.0	2,856 (0%)	1mo	$469,000	$164	99
1063 Illinois Ave #4	0.54mi	8/4.0	3,156 (+10%)	11mo	$109,900	$35	48

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 · 0.05% rent growth · sell at horizon

5-year hold

• IRR: -2.2%
• Equity multiple: 0.92×
• Total profit: $-10,555
• Equity at exit: $69,929

10-year hold

• IRR: 3.9%
• Equity multiple: 1.25×
• Total profit: $32,681
• Equity at exit: $40,551

Cash invested: $131,320 (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 76104

• Home prices YoY: -11.6%
• Rents YoY: 0.1%
• Active inventory: 176
• Price-to-rent: 27.3×

Monthly cashflow live

• Estimated rent: $5,730 high
• Mortgage (P&I): −$2,459
• Tax est. 1.5%: −$586 /mo · $7,035/yr
• Insurance: −$195
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,203
• Net cashflow: $1,286

Break-even live

Break-even rent $4,103

Max offer price $469,000

Occupancy floor 73%

Sensitivity live

Price	-10% $1,610	-5% $1,448	+0% $1,286	+5% $1,123	+10% $961
Rent	-10% $833	-5% $1,059	+0% $1,286	+5% $1,512	+10% $1,738
Rate	-1.0pp $1,522	-0.5pp $1,405	base $1,286	+0.5pp $1,164	+1.0pp $1,040

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$5,728
Total (4 units)			$5,730

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: $117,250
• Closing costs: $14,070
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-05-06
   status Pending
2. 2026-04-24
   historical Active Option Contract
3. 2026-04-13
   listed $469,000 Active
4. 2026-04-13
   historical
5. 2026-03-06
   price $460,000
6. 2026-02-20
   price $485,000
7. 2026-01-07
   listed $495,000 Active

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

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 · 23 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 24% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $68,760
• − Mortgage interest: −$26,271
• − Property taxes: −$7,035
• − Insurance: −$2,345
• − Repairs & maintenance: −$5,501
• − Management: −$5,501
• − Depreciation: −$13,644
• Taxable income: $8,463
• Est. tax owed @ 24.0%: −$2,031
• After-tax cash flow: $13,395/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This renovated quadplex in Fort Worth's Historic Southside is move-in ready with updated kitchens, baths, and HVAC systems. The property is well-maintained and positioned in a high-growth corridor with potential for long-term appreciation.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and value
• Both Replace railings — Improves safety and adds value
• Rental Service HVAC system — Ensures comfort and reduces maintenance costs

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and value ↑
• Both Replace railings — Improves safety and adds value ↑
• Rental Service HVAC system — Ensures comfort and reduces maintenance costs ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Fort Worth ISD
• NCES district ID: 4819700
• Math proficiency: 18% ▼ -16.00%
• Reading proficiency: 28% ▼ -6.00%
• Median HH income: $42,109
• Composite: 19.61/100
• National rank: #8753
• State rank: #742 of 826 in TX

Livability — Fort Worth

• Score: 80/100
• State rank: #49
• US rank: #1954

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fort Worth, TX
• County: Tarrant County · 2,033,669 people
• City population: 911,619
• Metro: Dallas-Fort Worth-Arlington, TX
• Population (ZIP): 20,443
• Household income: $61,658
• Rent vs Own: 63.1% rent · 36.9% own
• Severe rent burden: 1060.0

Population outlook (Tarrant County) Hauer SSP2

• Today (2025): 2,380,417 people
• By 2030: 2,578,900 · +8.3%
• By 2040: 2,974,995 · +25.0%
• By 2050: 3,350,489 · +40.8%
• By 2075: 4,216,909 · +77.2%
• By 2100: 4,741,527 · +99.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.67)
• Race & ethnicity: Hispanic / Latino 45% Black 28% White 21% Two or more races 17% Asian 2%
• Hispanic origin (detail): Mexican 41% Cuban 1%
• Common ancestry: Lithuanian 1% Italian 1% Arab 1%
• Foreign-born: 21% · Canada, Vietnam, Philippines
• Languages at home: 58% English-only · Spanish 37% Arabic 1% Other Indo-European 1%

Political lean MEDSL · Tarrant

• 2024 margin: Lean R (+5.1) · D 46.7% · R 51.9% · Other 1.4%
• 2008→2024 swing: +6.6pp toward D · 2008: -11.7pp · 2024: -5.1pp
• All cycles: 2024: R+5.1 2020: D+0.2 2016: R+8.7 2012: R+15.7 2008: R+11.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -36.10%
• Current HPI: 276.383
• Rent YoY: ▬ 0.05%
• Metro: Dallas-Fort Worth-Arlington, 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

-5.3% since first listed

7 events — show timeline

• 2026-05-06 Pending — NTREIS
• 2026-04-24 Contingent — NTREIS
• 2026-04-13 Listing Removed — NTREIS
• 2026-04-13 Listed $469,000 NTREIS
• 2026-03-06 Price Changed $460,000 NTREIS
• 2026-02-20 Price Changed $485,000 NTREIS
• 2026-01-07 Listed $495,000 NTREIS