8381 Davis Blvd #306 · North Richland Hills, TX 76182

$189,000

2 bd · 1.0 ba · 1,224 sqft · Condo public records · 20 Days on market

Built 2023 Excellent condition

---

Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• 1% rule +5.3/10.0
• Schools +4.8/10.0
• Condition / age +4.8/5.0
• Livability +3.6/5.0
• Rent growth +3.1/5.0
• Cash flow +0.0/30.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks

UNIQUE OPPORTUNITY IN 62+ ACTIVE ADULT COMMUNITY TO ENJOY A LOW MAINTENANCE LIFESTYLE WITH NO WORRIES WHERE YOUR EQUITY SHARE INCREASES 3% EVERY YEAR THE MEMBER LIVES AT THE VILLAGE COOPERATIVE OF CENTURY HILLS. YOU WILL FALL IN LOVE WITH THIS SPACIOUS SINGLE LEVEL OPEN FLOOR PLAN WITH LUXURY VINYL FLOORING, QUARTZ COUNTERTOPS, STAINLESS STEEL REFRIGERATOR, FULL SIZE WASHER & DRYER, AND LARGE PANTRY WITH CUSTOM SHELVING, COFFEE BAR AND EXTRA STORAGE. ENHANCE YOUR LIFE WITH NUMEROUS AMENITIES WHICH INCLUDE A WORKSHOP WITH POWER TOOLS,  UNDERGROUND PARKING, CAR WASH BAY, ONSITE GUEST SUITE, ACCESSIBLE ELEVATORS,  COMMUNITY ROOM, CRAFT ROOM,  FITNESS ROOM, GARDEN PLOTS, AN

Key facts

• Open floor plan
• Quartz countertops
• Large pantry

Tags

• OPEN FLOOR PLAN
• LUXURY VINYL FLOORING
• QUARTZ COUNTERTOPS
• STAINLESS STEEL REFRIGERATOR
• FULL SIZE WASHER AND DRYER
• LARGE PANTRY

Property features AI

Finance

• Other: Property is part of Village Cooperative of Century Hills complex; Complex meets ADA guidelines
• Financial info: Second mortgage: none; Loan type: Treat As Clear
• HOA & community: Monthly association with management by Paramark; Association includes full use of facilities, insurance, grounds and structure maintenance, management fees, security, sewer, and water; Community features include club house, common elevator, community sprinkler, fitness center, and electric car charging station; Age-restricted / senior community

Exterior

• Parking: Assigned covered parking; Attached garage (heated) with garage door opener and 1 garage space; Additional parking; Carport (1 space); Storage and workshop space in garage
• Security: Fire sprinkler system; Fire alarm; Smoke detectors; Carbon monoxide detectors; Security system; Key card entry
• Utilities: City water; City sewer; Cable available; Community mailbox
• Home design: Condominium (attached property); Three-story building; Unit located on floor 3; Accessible features including ramp, accessible full bath, bedroom, doors, elevator, entrance, hallway(s), and kitchen (meets ADA guidelines); Preowned (built 2023)
• Construction: Built in 2023; Brick and board & batten siding exterior; Composition roof; Has basement
• Exterior features: Covered porch(es); Covered patio/porch; Fire pit; Gardens; Gas grill / outdoor grill / outdoor living center; Gutters; Sprinkler system; Landscaped yard; Many trees

Interior

• Kitchen: Dishwasher; Disposal; Electric range; Microwave; Refrigerator; Pantry
• Bedrooms: Primary bedroom (level 1) with custom closet system, dual sinks, and walk-in closet; Second bedroom (level 1) with split-bedroom layout
• Flooring: Luxury vinyl plank
• Bathrooms: One full bathroom; Primary bath with double vanity
• Heating & cooling: Central heating (electric); Central air (electric)
• Interior features: Open floorplan; Granite counters; Pantry; Decorative lighting; Double vanity; Flat screen wiring; Cable TV available; High speed internet available; Window coverings; Elevator; Walk-in closet(s); Built-in cabinets (utility room)
• Laundry & utility: Full-size washer/dryer area; Washer hookup; Electric dryer hookup; Utility room / separate utility area (built-in cabinets); Washer/dryer on site

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $189k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-2k ($-21k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $189k).
• Recommended offer: $186k (1.5% below list) — sets the bar for market timing.
• Cap rate -4.7% vs local median 3.6% in North Richland Hills — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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-.
• Keller ISD (urban): math 50% / reading 54% proficiency, ranked #91 of 826 in TX (top 11%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 19% free/reduced lunch — higher-income household profile.
• Zoned schools: Liberty El (math 72% / reading 62%, grade B+, #199 of 4,322 statewide, top 5%, 474 students, 7% FRL).
• Zoned-school proficiency averages 67% at this address vs 52% district-wide (+15 pts) — the actual schools serving this property are materially stronger than the Keller ISD average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+2.2%/yr); 178 active listings in the ZIP; high-income renter base; 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 20 days — a 2% lower offer ($186k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 98% of rent.
• Climate carrying-cost: extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $186,165 (1.5% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 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: 1.03% ✓
• Cap rate: -4.74%
• Cash-on-cash: -39.39%
• DSCR: -0.75
• GRM: 8.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.23% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: -1.67×
• Total profit: $-141,509
• Equity at exit: $28,181

10-year hold

• IRR: —
• Equity multiple: -4.04×
• Total profit: $-266,685
• Equity at exit: $16,341

Cash invested: $52,920 (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 76182

• Rents YoY: 2.2%
• Active inventory: 178
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,948 medium
• Mortgage (P&I): −$991
• Tax from tax record: −$298 /mo · $3,573/yr
• Insurance: −$79
• HOA est. from 1 same-building comp: −$1,908
• Vacancy / Maint / Mgmt: −$409
• Net cashflow: $-1,737

Break-even live

Break-even rent $4,146

Max offer price —

Occupancy floor —

Sensitivity live

Price	-10% $-1,630	-5% $-1,683	+0% $-1,737	+5% $-1,790	+10% $-1,844
Rent	-10% $-1,891	-5% $-1,814	+0% $-1,737	+5% $-1,660	+10% $-1,583
Rate	-1.0pp $-1,642	-0.5pp $-1,689	base $-1,737	+0.5pp $-1,786	+1.0pp $-1,836

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: $47,250
• Closing costs: $5,670
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 13 events

1. 2026-06-21
   days on market $189,000 Active 20 DOM
2. 2026-06-18
   days on market $189,000 Active 17 DOM
3. 2026-06-17
   days on market $189,000 Active 16 DOM
4. 2026-06-16
   days on market $189,000 Active 15 DOM
5. 2026-06-15
   days on market $189,000 Active 14 DOM
6. 2026-06-13
   days on market $189,000 Active 12 DOM
7. 2026-06-09
   days on market $189,000 Active 8 DOM
8. 2026-06-08
   days on market $189,000 Active 7 DOM
9. 2026-06-07
   days on market $189,000 Active 6 DOM
10. 2026-06-04
    days on market $189,000 Active 3 DOM
11. 2026-06-03
    days on market $189,000 Active 2 DOM
12. 2026-06-02
    remarks 680-char remark
13. 2026-06-02
    listed $189,000 Active 1 DOM

ⓘ 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: $3,573 · $298/mo
• Projected year-2 tax: $3,573 · $298/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 ≥109°F today · 25 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: $23,373
• − Mortgage interest: −$10,587
• − Property taxes: −$3,573
• − Insurance: −$945
• − Repairs & maintenance: −$1,870
• − Management: −$1,870
• − HOA: −$22,896
• − Depreciation: −$5,498
• Taxable loss: −$23,866
• Est. tax savings @ 24.0%: +$5,728
• After-tax cash flow: $-15,115/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 · 13 photos

Excellent 95/100 None rehab

This property is in excellent condition with no visible repairs needed. It offers a low-maintenance lifestyle and numerous amenities, making it an attractive investment opportunity.

Value-add opportunities

• Resale Painting the exterior brick and siding — Enhances curb appeal and can add value to the property
• Resale Landscaping improvements — A well-maintained landscape can increase the property's curb appeal and value

Renovation cost estimate screening

Value-add ROI direction

• Resale Painting the exterior brick and siding — Enhances curb appeal and can add value to the property ↑
• Resale Landscaping improvements — A well-maintained landscape can increase the property's curb appeal and value ↑

ⓘ 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: Keller ISD
• NCES district ID: 4825260
• Math proficiency: 50% ▼ -14.00%
• Reading proficiency: 54% ▼ -9.00%
• Median HH income: $92,106
• Composite: 48.46/100
• National rank: #2131
• State rank: #91 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): 30,242
• Household income: $120,558
• Rent vs Own: 18.1% rent · 81.9% own
• Severe rent burden: 284.0

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: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 15% Two or more races 10% Asian 4% Black 4%
• Hispanic origin (detail): Mexican 10% Puerto Rican 1%
• Common ancestry: Lithuanian 3% Slovak 3% Italian 3%
• Foreign-born: 8% · Canada, Vietnam, Jamaica
• Languages at home: 87% English-only · Spanish 8% 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: ▼ -168.20%
• Current HPI: 277.0162
• Rent YoY: ▲ 2.23%
• 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

1 event — show timeline

• 2026-05-27 Listed $189,000 NTREIS

Property tax history

-38.8%/yr

Latest (2025): $3,573 · -38.8% YoY. Source: county tax records.