412 Chicago Ave · Fort Worth, TX 76103

$224,900

6 bd · 4.0 ba · 1,440 sqft · MultiFamily public records · 44 Days on market

Built 1920 5,314 sqft lot $156/sqft · 8% below area Est $245k · 8% 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 +29.0/30.0
• ARV discount +11.2/15.0
• DSCR +10.0/10.0
• 1% rule +8.2/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Come explore this turnkey, recently updated duplex in a highly convenient East Fort Worth location. With easy access to Highway 30, this property is ideal for investors seeking a cash-flowing asset in a rapidly appreciating market. A new HVAC system was installed on one side in 2025. Unit B is leased through October 31, 2026 at $965 per month, and Unit A is vacant and is ready for rent or for a new owner looking to owner occupy or House hack to help offset their mortgage payment. Utilities are separately metered. Come make an offer before someone else does!

Key facts

• New hvac system
• 5,314 sq ft lot
• 2 parking spots

Tags

• EAST FORT WORTH LOCATION
• NEW HVAC SYSTEM
• SEPARATELY METERED UTILITIES

Property features AI

Finance

• Other: Listing accepts Cash, Conventional, FHA, and VA financing; All tenant belongings excluded from sale
• Financial info: Property listed as residential income; Duplex with 2 units and 1 building; Reported gross annual income and expenses listed as 0.00
• HOA & community: No homeowners association

Exterior

• Parking: 2 parking spaces
• Security: No accessibility features indicated
• Utilities: City water; City sewer; Cable available; Municipal utility district not present
• Home design: Duplex (residential income); One story; Built in 1920
• Construction: Composition roof; Pillar/post/pier foundation; Other construction materials
• Exterior features: On-site parking; On-street parking; Lot in Turner Subdivision

Interior

• Kitchen: Dishwasher; Garbage disposal
• Bedrooms: 3 bedrooms
• Flooring: See remarks
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning; Ceiling fans; Electric cooling
• Interior features: Eat-in kitchen; High-speed internet available; One-level layout
• Laundry & utility: No specific laundry details provided

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $225k.

Deal economics

• At list price, monthly cash flow is $769 ($9k/yr) — positive. Per door: $384/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $225k).
• Recommended offer: $218k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.4% 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: Sagamore Hill El (math 8% / reading 17%, grade F, #4,167 of 4,322 statewide, top 97%, 406 students, 94% FRL) — zoned schools average 94% FRL vs 73% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 46 active listings in the ZIP; 18,938 units permitted in Tarrant County in 2024 (8,336 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $63k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 44 days — a 3% lower offer ($218k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 14y 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.
• Current owner paid $147k; list at $225k implies a 53% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• 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 $218,153 (3.0% below list)

Questions for the listing agent

1. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.32% ✓
• Cap rate: 10.39%
• Cash-on-cash: 14.65%
• DSCR: 1.65
• GRM: 6.3

CMA / ARV

• ARV (median comp): $245,000
• List price: $224,900
• Delta: -8.20%
• Verdict: FAIR
• Comps: 17 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 5.1%
• Equity multiple: 1.20×
• Total profit: $12,572
• Equity at exit: $33,533

10-year hold

• IRR: 14.6%
• Equity multiple: 2.18×
• Total profit: $74,237
• Equity at exit: $19,445

Cash invested: $62,972 (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 76103

• Home prices YoY: -5.6%
• Active inventory: 46
• Price-to-rent: 12.6×

Monthly cashflow live

• Estimated rent: $2,977 high
• Mortgage (P&I): −$1,179
• Tax from tax record: −$310 /mo · $3,721/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$625
• Net cashflow: $769

Break-even live

Break-even rent $2,004

Max offer price $224,900

Occupancy floor 69%

Sensitivity live

Price	-10% $896	-5% $832	+0% $769	+5% $705	+10% $641
Rent	-10% $533	-5% $651	+0% $769	+5% $886	+10% $1,004
Rate	-1.0pp $882	-0.5pp $826	base $769	+0.5pp $710	+1.0pp $651

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$2,976
Total (2 units)			$2,977

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: $56,225
• Closing costs: $6,747
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-06-21
   days on market $224,900 Active 44 DOM
2. 2026-06-18
   days on market $224,900 Active 41 DOM
3. 2026-06-17
   days on market $224,900 Active 40 DOM
4. 2026-06-16
   days on market $224,900 Active 39 DOM
5. 2026-06-15
   days on market $224,900 Active 38 DOM
6. 2026-06-13
   days on market $224,900 Active 36 DOM
7. 2026-06-09
   days on market $224,900 Active 32 DOM
8. 2026-06-08
   days on market $224,900 Active 31 DOM
9. 2026-06-08
   price $224,900 Active 30 DOM
10. 2026-06-07
    days on market $235,000 Active 30 DOM
11. 2026-06-04
    days on market $235,000 Active 27 DOM
12. 2026-06-03
    days on market $235,000 Active 26 DOM
13. 2026-06-02
    days on market $235,000 Active 25 DOM
14. 2026-06-01
    days on market $235,000 Active 24 DOM
15. 2026-05-31
    days on market $235,000 Active 23 DOM
16. 2026-05-08
    listed $235,000 Active 563-char remark
17. 2026-03-17
    historical
18. 2026-02-13
    status Active
19. 2026-02-09
    historical Active Option Contract
20. 2026-01-20
    listed $235,000 Active
21. 2025-12-18
    historical
22. 2025-11-26
    price $235,000
23. 2025-10-23
    price $240,000
24. 2025-09-04
    listed $250,000 Active
25. 2024-10-09
    historical $899
26. 2024-09-21
    price $899
27. 2024-09-21
    historical $899
28. 2024-09-20
    listed $899
29. 2024-09-05
    listed $995
30. 2024-09-05
    historical $995
31. 2024-08-22
    price $995
32. 2024-07-26
    listed $1,050
33. 2023-08-04
    soldstatus
34. 2023-08-03
    soldstatus Closed
35. 2023-07-11
    status Pending
36. 2023-07-08
    historical Active Option Contract
37. 2023-07-06
    status Active
38. 2023-07-02
    historical Active Option Contract
39. 2023-06-26
    listed $259,900 Active
40. 2023-06-20
    soldstatus
41. 2023-06-16
    soldstatus Closed
42. 2023-05-31
    status Pending
43. 2023-05-27
    listed $39,900 Active
44. 2023-03-31
    soldstatus
45. 2019-12-05
    soldstatus $147,190
46. 2012-10-04
    soldstatus
47. 2012-08-24
    soldstatus
48. 2012-08-01
    soldstatus Closed
49. 2012-07-26
    status Pending
50. 2012-07-21
    listed $30,000 Active

ⓘ 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: $3,721 · $310/mo
• Projected year-2 tax: $4,116 · $343/mo
• Expected delta: +$394/yr (+$33/mo · 10.6%)

ⓘ 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 ≥110°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: $35,724
• − Mortgage interest: −$12,598
• − Property taxes: −$3,721
• − Insurance: −$1,124
• − Repairs & maintenance: −$2,858
• − Management: −$2,858
• − Depreciation: −$6,543
• Taxable income: $6,022
• Est. tax owed @ 24.0%: −$1,445
• After-tax cash flow: $7,778/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: 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): 15,975
• Household income: $60,172
• Rent vs Own: 38.5% rent · 61.5% own
• Severe rent burden: 466.0

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 0.57)
• Race & ethnicity: Hispanic / Latino 60% Two or more races 31% White 21% Black 16% Native American 1%
• Hispanic origin (detail): Mexican 47%
• Common ancestry: Slovak 1% Italian 1% Serbian 1%
• Foreign-born: 24% · Canada
• Languages at home: 52% English-only · Spanish 46% French/Haitian/Cajun 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: ▼ -18.72%
• Current HPI: 315.0201
• Rent YoY: —
• 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

+649.7% since first listed

38 events — show timeline

• 2026-06-07 Price Changed $224,900 NTREIS
• 2026-05-08 Listed $235,000 NTREIS
• 2026-03-17 Listing Removed — NTREIS
• 2026-02-13 Relisted — NTREIS
• 2026-02-09 Contingent — NTREIS
• 2026-01-20 Listed $235,000 NTREIS
• 2025-12-18 Listing Removed — NTREIS
• 2025-11-26 Price Changed $235,000 NTREIS
• 2025-10-23 Price Changed $240,000 NTREIS
• 2025-09-04 Listed $250,000 NTREIS
• 2024-10-09 Rental Removed $899 RENTALBEAST
• 2024-09-21 Price Changed $899 RENTALBEAST
• 2024-09-21 Rental Removed $899 SHOWMOJO
• 2024-09-20 Listed for Rent $899 SHOWMOJO
• 2024-09-05 Listed for Rent $995 RENTALBEAST
• 2024-09-05 Rental Removed $995 SHOWMOJO
• 2024-08-22 Price Changed $995 SHOWMOJO
• 2024-07-26 Listed for Rent $1,050 SHOWMOJO
• 2023-08-04 Sold (Public Records) — Public Records
• 2023-08-03 Sold (MLS) — NTREIS
• 2023-07-11 Pending — NTREIS
• 2023-07-08 Contingent — NTREIS
• 2023-07-06 Relisted — NTREIS
• 2023-07-02 Contingent — NTREIS
• 2023-06-26 Listed $259,900 NTREIS
• 2023-06-20 Sold (Public Records) — Public Records
• 2023-06-16 Sold (MLS) — NTREIS
• 2023-05-31 Pending — NTREIS
• 2023-05-27 Listed $39,900 NTREIS
• 2023-03-31 Sold (Public Records) — Public Records
• 2019-12-05 Sold (Public Records) $147,190 Public Records
• 2012-10-04 Sold (Public Records) — Public Records
• 2012-08-24 Sold (Public Records) — Public Records
• 2012-08-01 Sold (MLS) — NTREIS
• 2012-07-26 Pending — NTREIS
• 2012-07-21 Listed $30,000 NTREIS
• 2008-05-13 Sold (Public Records) — Public Records
• 1994-04-21 Sold (Public Records) — Public Records

Property tax history

+8.8%/yr

Latest (2025): $3,721 · -25.8% YoY. Source: county tax records.