4824 Grove St · North Richland Hills, TX 76180

$154,000

3 bd · 2.0 ba · 1,265 sqft · SingleFamily public records · 18 Days on market

Built 1956 9,801 sqft lot $122/sqft · 43% below area Est $268k · 43% under ↓ 23% 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 +23.1/30.0
• ARV discount +15.0/15.0
• 1% rule +7.6/10.0
• DSCR +7.4/10.0
• Schools +3.7/10.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks

Bank made an error in list price, it has been adjusted to 154k. There are multiple offers on the property and we are having a highest and best that will expire at 5pm on Monday the 25th of May. An amazing opportunity for an owner occupant who wants some sweat equity, or for the investor to cash in on instant equity. This one isn't for the faint of heart, as there are issues that are required to be correct, such as foundation, city-related requirements, and other maintenance issues. Utilities cannot and will not be turned on, and the purchase is to be as-is, with no repairs or treatments. Located down a rarely traveled, quiet cul-de-sac street, and a perfect location for someone looking for

Key facts

• Cul-de-sac street
• 9,801 sq ft lot
• Garage

Tags

• CUL-DE-SAC STREET
• INSTANT ACCESS TO FREEWAY

Property features AI

Finance

• Other: Property subtype: Single Family Residence; Lot size approximately 0.225 acre
• Financial info: Listing terms include cash and conventional financing; Special listing condition: Real Estate Owned
• HOA & community: No association

Exterior

• Parking: Driveway; Covered parking space (1); Attached garage with 1 garage space
• Utilities: Cable available; City sewer; City water; Not in a municipal utility district
• Home design: Single family residence; One story; Residential property
• Construction: Built in 1956; Composition roof; Slab foundation
• Exterior features: Wood fencing; Interior lot with a large backyard of grass

Interior

• Kitchen: No appliances included
• Bedrooms: 3 bedrooms (Primary bedroom on level 1)
• Flooring: Carpet; Ceramic tile; Laminate
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Cable TV available; One living area; One dining area; Total room count: 3
• Laundry & utility: No laundry appliances listed

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $154k.

Deal economics

• At list price, monthly cash flow is $275 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $154k).
• Recommended offer: $152k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.4% vs local median 3.6% in North 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 71/100 on livability (#286 in TX) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A, employment A-; Watch: amenities F, commute F, health & safety D-.
• 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.
• Zoned schools: Jack C Binion El (math 22% / reading 29%, grade F, #2,982 of 4,322 statewide, top 70%, 688 students, 82% FRL) — zoned schools average 82% FRL vs 48% district-wide (34 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 26% at this address vs 42% district-wide (-17 pts) — the specific schools serving this property underperform the Birdville ISD average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-1.6%/yr); 152 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 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 $5k 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 18 days — a 2% lower offer ($152k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago; this cycle's ask is 185% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: property tax is 3.0% of price; built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $151,690 (1.5% below list)

Questions for the listing agent

1. Built in 1956 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. 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.
6. 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.
7. 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: 1.26% ✓
• Cap rate: 8.44%
• Cash-on-cash: 7.66%
• DSCR: 1.34
• GRM: 6.6

CMA / ARV

• ARV (median comp): $267,889
• List price: $154,000
• Delta: -42.51%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5008 Colorado Blvd	0.14mi	3/2.0	1,205 (-5%)	8mo	$284,900	$236	79
7905 Joreen Dr	0.38mi	3/2.0	1,281 (+1%)	4mo	$279,900	$219	77
5000 Wyoming Trl	0.15mi	3/2.0	1,369 (+8%)	8mo	$239,900	$175	72
5020 Colorado Blvd	0.18mi	3/2.0	1,372 (+8%)	6mo	$309,900	$226	72
4913 Eldorado Dr	0.22mi	3/2.0	1,416 (+12%)	1mo	$329,900	$233	69
5323 Northridge Blvd	0.59mi	3/2.0	1,231 (-3%)	11mo	$240,000	$195	59
7801 Conn Dr	0.73mi	3/2.0	1,182 (-7%)	2mo	$129,900	$110	53
5337 Northridge Blvd	0.64mi	2/2.0 (-1)	1,202 (-5%)	8mo	$225,000	$187	50
4317 Keeter Dr	0.57mi	3/2.0	1,442 (+14%)	1mo	$294,999	$205	50
4916 Susan Lee Ln	0.57mi	3/1.5	1,420 (+12%)	2mo	$266,000	$187	49
4901 Susan Lee Ln	0.59mi	3/2.0	1,448 (+14%)	1mo	$293,000	$202	47
7844 Harwood Rd	0.49mi	4/2.0 (+1)	1,438 (+14%)	8mo	$260,000	$181	42

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -8.5%
• Equity multiple: 0.70×
• Total profit: $-12,945
• Equity at exit: $22,962

10-year hold

• IRR: -4.1%
• Equity multiple: 0.77×
• Total profit: $-10,004
• Equity at exit: $13,315

Cash invested: $43,120 (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 76180

• Rents YoY: -1.6%
• Active inventory: 152
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,933 high
• Mortgage (P&I): −$808
• Tax from tax record: −$380 /mo · $4,559/yr
• Insurance: −$64
• HOA: −$0
• Vacancy / Maint / Mgmt: −$406
• Net cashflow: $275

Break-even live

Break-even rent $1,584

Max offer price $154,000

Occupancy floor 81%

Sensitivity live

Price	-10% $362	-5% $319	+0% $275	+5% $232	+10% $188
Rent	-10% $123	-5% $199	+0% $275	+5% $352	+10% $428
Rate	-1.0pp $353	-0.5pp $314	base $275	+0.5pp $235	+1.0pp $195

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: $38,500
• Closing costs: $4,620
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4828 Grove St North Richland Hills, TX	3.0	2.0	1268	$1,995	$1.57	25d	1	0.03mi
4828 Grove St North Richland Hills, TX	3.0	2.0	1268	$1,995	$1.57	8d	1	0.03mi
5000 Colorado Blvd North Richland Hills, TX	3.0	2.0	1132	$3,800	$3.36	0d	1	0.08mi
8359 N Harwood Rd North Richland Hills, TX	1.0–3.0	1.0–2.0	984	$2,141	$2.17	0d	25	0.53mi
7913 Harwood Rd North Richland Hills, TX	1.0–3.0	1.0–2.0	957	$2,135	$2.23	0d	23	0.55mi
4429 Union St North Richland Hills, TX	3.0	2.5	1719	$2,595	$1.51	0d	1	0.65mi
4513 Bishop St North Richland Hills, TX	3.0	2.5	1678	$2,700	$1.61	44d	1	0.67mi
4500 Ward St North Richland Hills, TX	3.0	2.5	1649	$2,599	$1.58	25d	1	0.68mi
4348 Henderson Ave North Richland Hills, TX	3.0	2.5	1650	$2,499	$1.51	8d	1	0.69mi
4512 Ward St North Richland Hills, TX	3.0	2.5	1640	$2,500	$1.52	25d	1	0.69mi
4401 Glenview Ct North Richland Hills, TX	1.0–3.0	1.0–2.0	1015	$2,008	$1.98	0d	35	0.69mi
4950 Cloyce Ct Unit C North Richland Hills, TX	2.0	2.0	989	$1,295	$1.31	44d	1	0.71mi
8500 Harwood Rd North Richland Hills, TX	1.0–4.0	1.0–2.0	975	$1,570	$1.61	0d	92	0.71mi
4532 Tripp St North Richland Hills, TX	3.0	2.5	1703	$2,400	$1.41	22d	1	0.73mi
5012 Winder Ct Unit A North Richland Hills, TX	2.0	2.0	1136	$1,400	$1.23	5d	1	0.75mi
8515 Texas 26 North Richland Hills, TX	2.0–4.0	2.0	1210	$2,041	$1.69	0d	26	0.77mi
5025 Winder Ct Unit C North Richland Hills, TX	3.0	2.0	1163	$1,900	$1.63	25d	1	0.78mi
5033 Winder Ct Unit C North Richland Hills, TX	3.0	2.0	1457	$1,670	$1.15	8d	1	0.79mi
1601 Weyland Dr North Richland Hills, TX	1.0–2.0	1.0–2.0	895	$1,732	$1.94	0d	35	0.81mi
5520 Galway Ln North Richland Hills, TX	3.0	2.0	1364	$2,100	$1.54	25d	1	0.84mi
8013 Emerald Hills Way North Richland Hills, TX	3.0	2.0	1231	$1,895	$1.54	44d	1	0.86mi
7728 Mary Dr North Richland Hills, TX	2.0	1.0	1014	$1,250	$1.23	0d	1	0.88mi
4421 Florence Ave North Richland Hills, TX	1.0–3.0	1.0–3.0	1302	$2,977	$2.29	0d	25	0.88mi
8341 Emerald Hills Way North Richland Hills, TX	2.0	2.0	954	$1,462	$1.53	0d	5	0.90mi
5521 Davis Blvd North Richland Hills, TX	1.0–2.0	1.0	831	$1,629	$1.96	0d	6	0.94mi
7920 Limerick Ln North Richland Hills, TX	4.0	2.0	1747	$8,750	$5.01	44d	1	0.95mi
4201 City Pt W North Richland Hills, TX	1.0–2.0	1.0–2.0	882	$2,020	$2.29	0d	34	1.01mi
7800 Irish Dr North Richland Hills, TX	3.0	2.0–2.5	1200	$1,675	$1.40	0d	12	1.04mi
3830 Booth Calloway Rd Richland Hills, TX	2.0	1.0–2.0	765	$1,149	$1.50	0d	1	1.09mi
621 Arcadia St Hurst, TX	1.0–2.0	1.0	895	$1,380	$1.54	2d	7	1.10mi
1301 Park Place Blvd Unit 1334 Hurst, TX	3.0	2.0	1338	$1,583	$1.18	3d	1	1.16mi
1301 Park Place Blvd Unit 1358 Hurst, TX	2.0	2.0	1059	$1,310	$1.24	3d	1	1.16mi
825 W Bedford Euless Rd Hurst, TX	1.0–2.0	1.0	765	$1,320	$1.72	22d	7	1.17mi
827 W Harwood Rd Hurst, TX	2.0	2.5	1078	$1,900	$1.76	17d	1	1.18mi
1301 Park Place Blvd Hurst, TX	2.0	2.0	1059	$1,638	$1.55	3d	1	1.18mi
1301 Park Place Blvd Hurst, TX	3.0	2.0	1338	$1,652	$1.23	13d	1	1.18mi
612 N Booth Calloway Rd Hurst, TX	1.0–2.0	1.5–2.5	912	$1,570	$1.72	4d	5	1.23mi
575 NE Loop 820 Hurst, TX	1.0–3.0	1.0–2.0	994	$2,326	$2.34	0d	24	1.25mi
801 Irwin Dr Apt B Hurst, TX	2.0	1.0	1000	$1,450	$1.45	3d	1	1.28mi
644 Timberline Dr Hurst, TX	2.0	2.0	1086	$1,800	$1.66	13d	1	1.29mi

Listing history 9 events

1. 2026-06-18
   days on market $154,000 Active 18 DOM
2. 2026-06-17
   days on market $154,000 Active 17 DOM
3. 2026-06-16
   status $154,000 Active 16 DOM
4. 2026-05-12
   listed $54,000 Active 769-char remark
5. 2024-07-11
   listed $199,000 Active
6. 2023-12-21
   soldstatus
7. 2023-12-15
   soldstatus
8. 1988-05-27
   soldstatus
9. 1984-01-01
   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: $4,559 · $380/mo
• Projected year-2 tax: $4,559 · $380/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 ≥110°F today · 23 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $23,194
• − Mortgage interest: −$8,626
• − Property taxes: −$4,559
• − Insurance: −$770
• − Repairs & maintenance: −$1,855
• − Management: −$1,855
• − Depreciation: −$4,480
• Taxable income: $1,047
• Est. tax owed @ 24.0%: −$251
• After-tax cash flow: $3,051/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 — North Richland Hills

• Score: 71/100
• State rank: #286
• US rank: #6602

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Richland Hills, TX
• County: Tarrant County · 2,033,669 people
• City population: 68,613
• Metro: Dallas-Fort Worth-Arlington, TX
• Population (ZIP): 38,371
• Household income: $81,503
• Rent vs Own: 51.1% rent · 48.9% own
• Severe rent burden: 1551.0

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 0.55)
• Race & ethnicity: White 62% Hispanic / Latino 22% Two or more races 10% Black 9% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 17% Puerto Rican 2%
• Common ancestry: Slovak 3% Serbian 2% Lithuanian 2%
• Foreign-born: 12% · Canada, Vietnam, South Korea
• Languages at home: 78% English-only · Spanish 14% Other Indo-European 3% French/Haitian/Cajun 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: ▼ -223.22%
• Current HPI: 279.046
• Rent YoY: ▼ -1.60%
• 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

-22.6% since first listed

9 events — show timeline

• 2026-06-16 Relisted — NTREIS
• 2026-05-28 Pending — NTREIS
• 2026-05-22 Price Changed $154,000 NTREIS
• 2026-05-12 Listed $54,000 NTREIS
• 2024-07-11 Listed $199,000 NTREIS
• 2023-12-21 Sold (Public Records) — Public Records
• 2023-12-15 Sold (Public Records) — Public Records
• 1988-05-27 Sold (Public Records) — Public Records
• 1984-01-01 Sold (Public Records) — Public Records

Property tax history

+6.1%/yr

Latest (2025): $4,559 · -1.0% YoY. Source: county tax records.