1203 Oakwood Trl

Southlake, TX 76092

$695,000C

3 bd · 2.0 ba · 1,954 sqft · Built 1975 · SingleFamily · Active Option Contract · 29 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $7,197/mo
• Mortgage (P&I): −$3,645
• Tax + insurance: −$1,126
• HOA: −$0
• Vac / Maint / Mgmt: −$1,511
• Net cashflow: $915/mo
• Annual: $10,984/yr
• Cap rate: 7.87%
• Cash-on-cash: 5.64%
• DSCR: 1.25
• 1% rule: 1.04%
• Cash to close: $194,600

Investor read

• This is a 3-bed/2.0-bath single-family listed at $695k.
• At list price, monthly cash flow is $915 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $695k).
• It's been on market 29 days — a 2% lower offer ($685k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $685k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $5k of loan paydown is wiped out by about $21k of value loss. Plan a longer hold.
• Location reads 76/100 on livability (#107 in TX, #3,547 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living F.
• Carroll ISD (suburban): math 84% / reading 83% proficiency, ranked #1 of 826 in TX (top 0%) — strong family-tenant draw, lease renewals of 3-5y typical; only 3% free/reduced lunch — higher-income household profile.
• Zoned schools: Carroll El (math 83% / reading 78%, grade A+, #28 of 4,322 statewide, top 1%, 625 students, 0% FRL); George Dawson Middle (math 91% / reading 83%, grade A+, #3 of 1,662 statewide, top 0%, 609 students, 0% FRL); Carroll Senior H S (math 100%, 1,444 students, 0% FRL) — zoned schools at 0% FRL track the district average.
• Market conditions: 287 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 1d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 18,938 units permitted in Tarrant County in 2024 (8,336 in 5+ unit buildings).
• Tarrant County population projected at +41% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 6 sale attempts since 24y ago; this cycle's ask has dropped $45k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $117k; list at $695k implies a 493% gain — meaningful room to come down on a strong offer.
• 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.
• Cap rate 7.9% vs local median 1.3% in Southlake — 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.
• This rent runs 35% of the median local income ($250k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are A-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?
• 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.
• 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.
• 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.