4508 Fletcher Ave · Fort Worth, TX 76107

$211,900

3 bd · 1.0 ba · 708 sqft · SingleFamily public records · 31 Days on market

Built 1950 7,797 sqft lot Est $150k · 41% over ↓ 14% since listing

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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).

• Cash flow +14.0/30.0
• DSCR +4.2/10.0
• Livability +4.0/5.0
• 1% rule +3.4/10.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Fully renovated and move-in ready home located in the highly desirable Arlington Heights area of Fort Worth, just minutes from Downtown Fort Worth, Camp Bowie Blvd, the Cultural District, shopping, dining, and quick access to I-30. This updated 2-bedroom home features an open layout with all new flooring, fully renovated bathroom, updated kitchen plumbing, new interior electrical, new drywall, new lighting, and new windows throughout. The HVAC system is only 2 years old and was lightly used for approximately 6 months. Additional updates include a new roof and plumbing improvements in both the kitchen and bathroom. Foundation was previously inspected prior to purchase and reported to be in g

Key facts

• Ample counter space
• Spacious backyard
• Updated flooring

Tags

• UPDATED FLOORING
• MODERN KITCHEN
• WHITE CABINETRY
• AMPLE COUNTER SPACE
• SPACIOUS BACKYARD
• MATURE TREES

Property features AI

Finance

• Other: Property is in Tarrant County, United States
• Financial info: Treat as clear loan type; No second mortgage indicated
• HOA & community: No association

Exterior

• Parking: Covered parking; 1 covered/carport space
• Utilities: City water; City sewer; No municipal utility district
• Home design: Single family residence; Residential property; Built in 1950; Not attached to another property
• Construction: Year built: 1950
• Exterior features: Lot under 0.5 acre (approx. 0.179 acres); Subdivision: Sunset Heights Add; Use GPS for directions

Interior

• Kitchen: No appliances included
• Bedrooms: 2 bedrooms (both on the main level)
• Bathrooms: 1 full bathroom (on the main level)
• Interior features: Open floorplan; One level; 6 total rooms; 1 living area; 1 dining area
• Laundry & utility: No laundry appliances listed

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $212k.

Deal economics

• At list price, monthly cash flow is $28 ($331/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $178k (16.2% below list).
• Recommended offer: $178k (16.2% below list) — sets the bar for 1% rule.
• Cap rate 6.4% 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: schools D+, 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.
• Market conditions: Rents rising (+2.9%/yr); 271 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals leasing fast (median 3d 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 $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 31 days — a 3% lower offer ($206k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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 1950 — 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 $177,663 (16.2% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 0.84% ✗
• Cap rate: 6.45%
• Cash-on-cash: 0.56%
• DSCR: 1.02
• GRM: 9.9

CMA / ARV

• ARV (on-the-fly): $150,096
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4417 Diaz Ave	0.18mi	2/1.0 (-1)	728 (+3%)	1mo	$195,000	$268	81
4362 Lisbon St	0.21mi	2/1.5 (-1)	708 (0%)	14mo	$149,900	$212	72
4501 Wellesley Ave	0.04mi	2/1.0 (-1)	728 (+3%)	21mo	$150,000	$206	71
4133 Alamo Ave	0.45mi	2/1.0 (-1)	720 (+2%)	13mo	$149,000	$207	61

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 · 2.94% rent growth · sell at horizon

5-year hold

• IRR: -15.5%
• Equity multiple: 0.45×
• Total profit: $-32,712
• Equity at exit: $31,595

10-year hold

• IRR: -7.1%
• Equity multiple: 0.55×
• Total profit: $-26,771
• Equity at exit: $18,321

Cash invested: $59,332 (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 76107

• Rents YoY: 2.9%
• Active inventory: 271
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,777 high
• Mortgage (P&I): −$1,111
• Tax from tax record: −$176 /mo · $2,117/yr
• Insurance: −$88
• HOA: −$0
• Vacancy / Maint / Mgmt: −$373
• Net cashflow: $28

Break-even live

Break-even rent $1,742

Max offer price $211,900

Occupancy floor 93%

Sensitivity live

Price	-10% $148	-5% $88	+0% $28	+5% $-32	+10% $-92
Rent	-10% $-113	-5% $-43	+0% $28	+5% $98	+10% $168
Rate	-1.0pp $134	-0.5pp $82	base $28	+0.5pp $-27	+1.0pp $-83

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: $52,975
• Closing costs: $6,357
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4727 Wellesley Ave Fort Worth, TX	2.0	1.0–2.0	786	$1,430	$1.82	11d	15	0.28mi
4720 Wellesley Ave Fort Worth, TX	1.0–2.0	1.0	745	$1,175	$1.58	25d	1	0.30mi
2501 Oak Hill Cir Fort Worth, TX	1.0–3.0	1.0–2.0	921	$2,128	$2.31	2d	43	0.72mi
5209 Kilpatrick Ave Fort Worth, TX	2.0	1.0	650	$1,500	$2.31	44d	1	0.81mi
2450 Oak Hill Cir Fort Worth, TX	1.0–4.0	1.0–2.5	1120	$2,563	$2.29	2d	80	0.83mi
4928 El Campo Ave Fort Worth, TX	1.0–2.0	1.0	800	$1,350	$1.69	2d	5	0.96mi
1701 Rogers Rd Fort Worth, TX	2.0	1.0–2.0	977	$2,403	$2.46	2d	35	1.25mi
4900 Gage Ave Fort Worth, TX	1.0–3.0	1.0–2.0	1128	$6,416	$5.69	2d	42	1.34mi
4945 Gage Ave Fort Worth, TX	3.0	1.0–3.0	1217	$4,290	$3.52	2d	45	1.34mi
3870 Tulsa Way Fort Worth, TX	1.0–2.0	1.0	825	$1,495	$1.81	22d	4	1.49mi

Listing history 22 events

1. 2026-06-18
   price $211,900 Active 31 DOM
2. 2026-06-18
   days on market $219,900 Active 31 DOM
3. 2026-06-17
   days on market $219,900 Active 30 DOM
4. 2026-06-16
   days on market $219,900 Active 29 DOM
5. 2026-06-15
   days on market $219,900 Active 28 DOM
6. 2026-06-13
   days on market $219,900 Active 26 DOM
7. 2026-06-09
   days on market $219,900 Active 22 DOM
8. 2026-06-08
   days on market $219,900 Active 21 DOM
9. 2026-06-07
   days on market $219,900 Active 20 DOM
10. 2026-06-04
    days on market $219,900 Active 17 DOM
11. 2026-06-03
    days on market $219,900 Active 16 DOM
12. 2026-06-02
    days on market $219,900 Active 15 DOM
13. 2026-06-01
    days on market $219,900 Active 14 DOM
14. 2026-05-31
    days on market $219,900 Active 13 DOM
15. 2026-05-18
    listed $219,900 Active
16. 2024-07-29
    historical
17. 2024-05-21
    price $225,000
18. 2024-05-06
    price $235,000
19. 2024-04-08
    listed $255,000 Active
20. 2022-12-14
    soldstatus
21. 1993-03-26
    soldstatus
22. 1988-06-25
    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: $2,117 · $176/mo
• Projected year-2 tax: $3,878 · $323/mo
• Expected delta: +$1,761/yr (+$147/mo · 83.2%)

ⓘ 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 ≥109°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: $21,320
• − Mortgage interest: −$11,870
• − Property taxes: −$2,117
• − Insurance: −$1,060
• − Repairs & maintenance: −$1,706
• − Management: −$1,706
• − Depreciation: −$6,164
• Taxable loss: −$3,302
• Est. tax savings @ 24.0%: +$792
• After-tax cash flow: $1,124/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): 30,994
• Household income: $79,990
• Rent vs Own: 55.9% rent · 44.1% own
• Severe rent burden: 2303.0

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 0.58)
• Race & ethnicity: White 59% Hispanic / Latino 20% Black 15% Two or more races 8% Asian 3%
• Hispanic origin (detail): Mexican 17%
• Common ancestry: Slovak 3% Lithuanian 2% Romanian 1%
• Foreign-born: 9% · Canada, China, Vietnam
• Languages at home: 82% English-only · Spanish 14% French/Haitian/Cajun 1% Chinese 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: ▼ -447.90%
• Current HPI: 296.4355
• Rent YoY: ▲ 2.94%
• 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

-13.8% since first listed

8 events — show timeline

• 2026-05-18 Listed $219,900 NTREIS
• 2024-07-29 Listing Removed — NTREIS
• 2024-05-21 Price Changed $225,000 NTREIS
• 2024-05-06 Price Changed $235,000 NTREIS
• 2024-04-08 Listed $255,000 NTREIS
• 2022-12-14 Sold (Public Records) — Public Records
• 1993-03-26 Sold (Public Records) — Public Records
• 1988-06-25 Sold (Public Records) — Public Records

Property tax history

+5.1%/yr

Latest (2025): $2,117 · -2.4% YoY. Source: county tax records.