2822 Fir Park · Richland Hills, TX 76118

$185,900

3 bd · 1.0 ba · 1,018 sqft · SingleFamily public records · 53 Days on market

Built 1953 7,492 sqft lot $183/sqft · 8% below area Est $202k · 8% 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).

• Cash flow +11.5/30.0
• ARV discount +11.1/15.0
• 1% rule +3.7/10.0
• Schools +3.7/10.0
• Livability +3.5/5.0
• DSCR +3.4/10.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great opportunity to make this cute little gem your own. Priced to allow the new owners to make it their own. No HOA and very convenient to Hwy 121 and downtown Fort Worth. Bathroom has been updated. The Electric Panel and need upgraded. The HVAC was replaced in 2022. The Water Heater was replaced in 2024. The roof was replaced in 2020. Some windows updated. Large lot with 2 sheds and backs to a green belt area with walking trail.

Key facts

• Updated windows
• Replaced hvac
• Replaced roof

Tags

• NO HOA
• UPDATED BATHROOM
• REPLACED HVAC
• REPLACED WATER HEATER
• REPLACED ROOF
• UPDATED WINDOWS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $186k.

Deal economics

• At list price, monthly cash flow is $-60 ($-726/yr) — negative.
• To cash-flow at today's rent, offer at most $175k (5.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $162k (12.6% below list).
• Recommended offer: $162k (12.6% below list) — sets the bar for 1% rule.
• Cap rate 5.9% vs local median 3.7% in Richland Hills — 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 (#410 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B; Watch: schools D-, amenities F, commute F.
• Birdville ISD (suburban): math 42% / reading 43% proficiency, ranked #299 of 826 in TX (top 36%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+1.3%/yr); 80 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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 $1k of loan paydown is wiped out by about $6k 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 53 days — a 3% lower offer ($180k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 13y 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 1953 — 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 $162,402 (12.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 53 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
3. Built in 1953 — 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. 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?
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 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: 0.87% ✗
• Cap rate: 5.90%
• Cash-on-cash: -1.39%
• DSCR: 0.94
• GRM: 9.5

CMA / ARV

• ARV (median comp): $201,884
• List price: $185,900
• Delta: -7.92%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2907 Elm Park	0.09mi	3/1.0	984 (-3%)	3mo	$149,900	$152	88
3112 Birch Park Dr	0.32mi	3/1.0	1,028 (+1%)	11mo	$209,000	$203	74
2822 Cedar Park Blvd	0.17mi	3/1.0	1,033 (+2%)	18mo	$165,000	$160	74
2804 Birch Park Dr	0.25mi	3/1.0	993 (-2%)	12mo	$220,000	$222	74
2825 Ash Park Dr	0.31mi	3/1.0	1,010 (-1%)	15mo	$216,000	$214	72
7107 Dogwood Park Dr	0.14mi	3/1.0	980 (-4%)	23mo	$240,000	$245	68
2803 Fir Park	0.11mi	3/1.0	958 (-6%)	22mo	$212,000	$221	67
2907 Fir Park	0.05mi	2/1.0 (-1)	871 (-14%)	3mo	$199,000	$228	66
2817 Birch Park Dr	0.25mi	2/1.0 (-1)	920 (-10%)	3mo	$219,000	$238	65
3114 Ash Park Dr	0.36mi	2/1.0 (-1)	1,084 (+6%)	13mo	$189,900	$175	57
2813 Ash Park Dr	0.31mi	3/2.0	945 (-7%)	20mo	$234,900	$249	53
6825 John Dr	0.70mi	3/2.0	1,146 (+13%)	8mo	$265,000	$231	36

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 · 1.28% rent growth · sell at horizon

5-year hold

• IRR: -20.6%
• Equity multiple: 0.30×
• Total profit: $-36,680
• Equity at exit: $27,718

10-year hold

• IRR: -18.3%
• Equity multiple: 0.09×
• Total profit: $-47,609
• Equity at exit: $16,073

Cash invested: $52,052 (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 76118

• Home prices YoY: -15.9%
• Rents YoY: 1.3%
• Active inventory: 80
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,624 high
• Mortgage (P&I): −$975
• Tax from tax record: −$291 /mo · $3,494/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$341
• Net cashflow: $-60

Break-even live

Break-even rent $1,701

Max offer price $175,213

Occupancy floor 99%

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: $46,475
• Closing costs: $5,577
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7600 Bridges Ave Unit A Richland Hills, TX	2.0	1.5	1488	$1,700	$1.14	43d	1	0.73mi
3208 Matthews Dr Richland Hills, TX	2.0	1.5	1000	$1,490	$1.49	43d	1	0.83mi
3218 Matthews Dr Richland Hills, TX	2.0	1.5	1000	$1,480	$1.48	43d	1	0.83mi
3216 Matthews Dr Richland Hills, TX	2.0	1.5	1000	$1,490	$1.49	43d	1	0.83mi
6605 Park Place Dr Unit D Richland Hills, TX	2.0	1.5	1192	$1,450	$1.22	24d	1	0.94mi
6605 Park Place Dr Unit A Richland Hills, TX	3.0	2.5	1388	$1,595	$1.15	14d	1	0.94mi
6605 Park Place Dr Richland Hills, TX	2.0	2.0	1192	$1,450	$1.22	43d	1	0.95mi
6520 Park Place Dr Richland Hills, TX	2.0–3.0	1.0–2.0	1317	$1,550	$1.18	2d	3	1.00mi
3225 Crites St Unit 102 Richland Hills, TX	3.0	2.0	1100	$1,500	$1.36	24d	1	1.20mi
612 N Booth Calloway Rd Hurst, TX	1.0–2.0	1.5–2.5	912	$1,570	$1.72	3d	5	1.26mi
575 NE Loop 820 Hurst, TX	1.0–3.0	1.0–2.0	994	$2,326	$2.34	1d	23	1.29mi
3830 Booth Calloway Rd Richland Hills, TX	2.0	2.0	1019	$1,149	$1.13	2d	1	1.39mi
6324 Baker Blvd Richland Hills, TX	1.0–2.0	1.0–1.5	850	$1,472	$1.73	2d	22	1.40mi
7030 Glenview Dr Unit 45 Fort Worth, TX	2.0	1.0	910	$1,055	$1.16	12d	1	1.47mi

Listing history 15 events

1. 2026-06-01
   days on market $185,900 Active 53 DOM
2. 2026-05-31
   days on market $185,900 Active 52 DOM
3. 2026-05-13
   price $185,900 438-char remark

   Show marketing remark (438 chars)

   Great opportunity to make this cute little gem your own. Priced to allow the new owners to make it their own. No HOA and very convenient to Hwy 121 and downtown Fort Worth. Bathroom has been updated. The Electric Panel and need upgraded. The HVAC was replaced in 2022. The Water Heater was replaced in 2024. The roof was replaced in 2020. Some windows updated. Large lot with 2 sheds and backs to a green belt area with walking trail.

4. 2026-04-22
   price $187,900 438-char remark

   Show marketing remark (438 chars)

   Great opportunity to make this cute little gem your own. Priced to allow the new owners to make it their own. No HOA and very convenient to Hwy 121 and downtown Fort Worth. Bathroom has been updated. The Electric Panel and need upgraded. The HVAC was replaced in 2022. The Water Heater was replaced in 2024. The roof was replaced in 2020. Some windows updated. Large lot with 2 sheds and backs to a green belt area with walking trail.

5. 2026-04-09
   listed $189,900 Active 438-char remark

   Show marketing remark (438 chars)

   Great opportunity to make this cute little gem your own. Priced to allow the new owners to make it their own. No HOA and very convenient to Hwy 121 and downtown Fort Worth. Bathroom has been updated. The Electric Panel and need upgraded. The HVAC was replaced in 2022. The Water Heater was replaced in 2024. The roof was replaced in 2020. Some windows updated. Large lot with 2 sheds and backs to a green belt area with walking trail.

6. 2026-03-02
   historical
7. 2026-02-20
   price $191,900
8. 2026-01-15
   listed $195,900 Active
9. 2025-11-04
   soldstatus
10. 2017-03-01
    soldstatus
11. 2013-02-28
    soldstatus
12. 2013-02-25
    soldstatus Closed
13. 2013-02-10
    status Pending
14. 2013-01-30
    listed $39,900 Active
15. 2003-05-14
    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: $3,494 · $291/mo
• Projected year-2 tax: $3,494 · $291/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 3/10 Moderate
• 🌡 Heat 8/10 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 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,488
• − Mortgage interest: −$10,413
• − Property taxes: −$3,494
• − Insurance: −$930
• − Repairs & maintenance: −$1,559
• − Management: −$1,559
• − Depreciation: −$5,408
• Taxable loss: −$3,874
• Est. tax savings @ 24.0%: +$930
• After-tax cash flow: $204/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: Birdville ISD
• NCES district ID: 4810230
• Math proficiency: 42% ▼ -12.00%
• Reading proficiency: 43% ▼ -6.00%
• Median HH income: $55,930
• Composite: 37.13/100
• National rank: #4491
• State rank: #299 of 826 in TX

Livability — Richland Hills

• Score: 69/100
• State rank: #410
• US rank: #8468

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Richland Hills, TX
• County: Tarrant County · 2,033,669 people
• Metro: Dallas-Fort Worth-Arlington, TX
• Population (ZIP): 17,991
• Household income: $94,530
• Rent vs Own: 26.9% rent · 73.1% own
• Severe rent burden: 405.0

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 0.62)
• Race & ethnicity: White 58% Hispanic / Latino 18% Black 10% Asian 8% Two or more races 6% Pacific Islander 1% Native American 1%
• Hispanic origin (detail): Mexican 12% Puerto Rican 4%
• Common ancestry: Slovak 2% Lithuanian 2% Italian 1%
• Foreign-born: 13% · Canada, Vietnam
• Languages at home: 80% English-only · Spanish 10% Other Indo-European 5% Vietnamese 2%

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: ▼ -58.64%
• Current HPI: 310.0546
• Rent YoY: ▲ 1.28%
• 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

+365.9% since first listed

13 events — show timeline

• 2026-05-13 Price Changed $185,900 NTREIS
• 2026-04-22 Price Changed $187,900 NTREIS
• 2026-04-09 Listed $189,900 NTREIS
• 2026-03-02 Listing Removed — NTREIS
• 2026-02-20 Price Changed $191,900 NTREIS
• 2026-01-15 Listed $195,900 NTREIS
• 2025-11-04 Sold (Public Records) — Public Records
• 2017-03-01 Sold (Public Records) — Public Records
• 2013-02-28 Sold (Public Records) — Public Records
• 2013-02-25 Sold (MLS) — NTREIS
• 2013-02-10 Pending — NTREIS
• 2013-01-30 Listed $39,900 NTREIS
• 2003-05-14 Sold (Public Records) — Public Records

Property tax history

+6.2%/yr

Latest (2025): $3,494 · +7.8% YoY. Source: county tax records.