3904 Manzinita St · Fort Worth, TX 76137

$199,900

3 bd · 2.0 ba · 1,022 sqft · SingleFamily public records · 3 Days on market

Built 1983 7,057 sqft lot Est $239k · 16% 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).

• ARV discount +14.9/15.0
• Cash flow +12.5/30.0
• Schools +4.8/10.0
• 1% rule +4.5/10.0
• Livability +4.0/5.0
• DSCR +3.7/10.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Investor special, first-time buyer opportunity, or perfect rental property in Keller ISD! Priced aggressively under $200,000, this 2-bedroom, 1-bath home offers incredible value with major updates already completed, including the roof, HVAC, and electrical system in 2021. The interior is clean and move-in ready, while still offering the opportunity to add your own cosmetic touches and build instant equity. Conveniently located with easy access to shopping, dining, and major highways, this is a rare chance to own an affordable home in Keller ISD. Don't miss this opportunity—schedule your showing today!

Key facts

• Move-in ready
• Easy access
• Major updates

Tags

• MAJOR UPDATES
• MOVE-IN READY
• EASY ACCESS

Property features AI

Finance

• Other: Municipal utility district: No
• Financial info: Treat as clear loan type; No second mortgage reported
• HOA & community: No association

Exterior

• Parking: Driveway (no garage, no covered or carport spaces)
• Utilities: City water; City sewer; Cable available
• Home design: Single-family residence; Residential property; One story; Preowned (built in 1983); Not attached to another property; Does not have accessibility features
• Construction: Built in 1983
• Exterior features: Lot under 0.5 acre (approximately 0.162 acres); Subdivision: Summerfields Addition; Follow GPS for directions

Interior

• Kitchen: Dishwasher; Electric cooktop; Electric oven
• Bedrooms: 2 bedrooms (primary bedroom on level 1)
• Bathrooms: 1 full bathroom
• Heating & cooling: No smart-home heating/cooling features reported
• Interior features: Cable TV available; High-speed internet available; One living area; One dining area; 2 total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $-30 ($-356/yr) — negative.
• To cash-flow at today's rent, offer at most $195k (2.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $190k (5.2% below list).
• Recommended offer: $190k (5.2% below list) — sets the bar for 1% rule.
• Cap rate 6.1% 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: crime F.
• 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: North Riverside El (math 25% / reading 33%, grade F, #2,668 of 4,322 statewide, top 63%, 488 students, 70% FRL); Fossil Hill Middle (math 32% / reading 43%, grade F, #736 of 1,662 statewide, top 45%, 838 students, 61% FRL); Fossil Ridge H S (math 41% / reading 55%, grade D, #571 of 1,632 statewide, top 36%, 2,329 students, 51% FRL) — zoned schools average 60% FRL vs 19% district-wide (42 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 38% at this address vs 52% district-wide (-14 pts) — the specific schools serving this property underperform the Keller ISD average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-1.4%/yr); 212 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• 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 $189,546 (5.2% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.95% ✗
• Cap rate: 6.11%
• Cash-on-cash: -0.64%
• DSCR: 0.97
• GRM: 8.8

CMA / ARV

• ARV (on-the-fly): $239,148
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7028 Shadow Bend Dr	0.36mi	3/1.5	1,026 (+0%)	9mo	$240,000	$234	73
7229 Buttonwood Dr	0.23mi	3/1.5	1,054 (+3%)	13mo	$219,900	$209	71
3812 Staghorn Cir S	0.21mi	3/2.0	1,104 (+8%)	8mo	$300,000	$272	70
7045 Shadow Bend Dr	0.36mi	2/1.0 (-1)	1,022 (0%)	8mo	$234,900	$230	68
7013 Buttonwood Dr	0.43mi	2/1.0 (-1)	1,022 (0%)	7mo	$239,000	$234	65
4017 Huckleberry Dr	0.43mi	3/2.0	1,115 (+9%)	4mo	$275,000	$247	62
3920 Dogwood Ln	0.38mi	3/2.0	1,106 (+8%)	12mo	$275,000	$249	58
4141 Spindletree Ln	0.33mi	2/1.0 (-1)	1,067 (+4%)	14mo	$234,999	$220	57
7801 Waxwing Cir W	0.56mi	2/1.0 (-1)	1,033 (+1%)	10mo	$247,500	$240	55
7313 Sunnybank Dr	0.71mi	3/1.0	1,061 (+4%)	15mo	$187,500	$177	44
4400 Park Creek Ct	0.67mi	3/2.0	1,135 (+11%)	11mo	$255,000	$225	42
4645 Greenfern Ln	0.74mi	2/1.0 (-1)	1,094 (+7%)	14mo	$230,990	$211	33

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: -21.1%
• Equity multiple: 0.29×
• Total profit: $-39,719
• Equity at exit: $29,806

10-year hold

• IRR: -24.9%
• Equity multiple: -0.04×
• Total profit: $-58,007
• Equity at exit: $17,284

Cash invested: $55,972 (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 76137

• Home prices YoY: -28.8%
• Rents YoY: -1.4%
• Active inventory: 212
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,895 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$395 /mo · $4,746/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$398
• Net cashflow: $-30

Break-even live

Break-even rent $1,933

Max offer price $194,659

Occupancy floor 97%

Sensitivity live

Price	-10% $83	-5% $27	+0% $-30	+5% $-86	+10% $-143
Rent	-10% $-179	-5% $-105	+0% $-30	+5% $45	+10% $120
Rate	-1.0pp $71	-0.5pp $21	base $-30	+0.5pp $-81	+1.0pp $-134

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3728 Flintwood Trl Fort Worth, TX	2.0	1.0	1048	$1,850	$1.77	6d	1	0.22mi
4208 Staghorn Cir S Fort Worth, TX	3.0	2.0	1470	$2,075	$1.41	9d	1	0.23mi
7305 Shadow Bend Dr Fort Worth, TX	3.0	2.0	1362	$1,870	$1.37	45d	1	0.24mi
3728 Staghorn Cir S Fort Worth, TX	3.0	2.0	1104	$1,700	$1.54	6d	1	0.26mi
7204 Shadow Bend Dr Fort Worth, TX	3.0	2.0	1013	$1,940	$1.92	45d	1	0.30mi
7204 Shadow Bend Dr Fort Worth, TX	3.0	2.0	1013	$1,650	$1.63	16d	1	0.30mi
4113 Pepperbush Dr Fort Worth, TX	3.0	2.0	1162	$1,795	$1.54	6d	1	0.35mi
4020 Blue Flag Ln Fort Worth, TX	3.0	2.0	1454	$2,025	$1.39	17d	1	0.36mi
7116 Wayfarer Trl Fort Worth, TX	3.0	2.0	1295	$1,796	$1.39	20d	1	0.37mi
3737 Whitefern Dr Fort Worth, TX	3.0	2.0	1435	$1,995	$1.39	1d	1	0.38mi
3728 Chaddybrook Ln Fort Worth, TX	3.0	2.0	1328	$1,900	$1.43	6d	1	0.39mi
3725 Whitefern Dr Fort Worth, TX	3.0	2.5	1425	$1,985	$1.39	6d	1	0.40mi
3600 Basswood Blvd Unit 3627 Fort Worth, TX	2.0	2.0	1134	$1,468	$1.29	1d	1	0.42mi
3600 Basswood Blvd Unit 3637 Fort Worth, TX	2.0	2.0	1134	$1,640	$1.45	45d	1	0.42mi
3600 Basswood Blvd Unit 3633 Fort Worth, TX	3.0	2.0	1417	$1,868	$1.32	1d	1	0.42mi
7009 Shadow Bend Dr Fort Worth, TX	3.0	2.0	1044	$1,900	$1.82	17d	1	0.43mi
3913 Periwinkle Dr Fort Worth, TX	3.0	2.0	1452	$2,000	$1.38	9d	1	0.52mi
6929 Egan Way Fort Worth, TX	3.0	2.0	1454	$2,090	$1.44	1d	1	0.52mi
4001 Periwinkle Dr Fort Worth, TX	3.0	2.0	1314	$2,020	$1.54	1d	1	0.53mi
4208 Staghorn Cir N Fort Worth, TX	3.0	2.0	1470	$2,075	$1.41	9d	1	0.56mi
4021 Staghorn Cir N Fort Worth, TX	3.0	2.0	1450	$2,245	$1.55	45d	1	0.58mi
7000 N Beach St Unit 7037 Fort Worth, TX	2.0	2.0	1050	$1,684	$1.60	45d	1	0.67mi
7000 N Beach St Unit 7023 Fort Worth, TX	2.0	2.0	1050	$1,733	$1.65	1d	1	0.67mi
7000 N Beach St Unit 7057 Fort Worth, TX	2.0	2.0	879	$1,504	$1.71	14d	1	0.67mi
7000 N Beach St Unit 7037 Fort Worth, TX	2.0	2.0	879	$1,504	$1.71	16d	1	0.67mi
3945 Spoonwood Ln Fort Worth, TX	3.0	2.0	1457	$2,000	$1.37	1d	1	0.68mi
7000 N Beach St Fort Worth, TX	2.0	2.0	971	$1,659	$1.71	45d	1	0.70mi
4653 Feathercrest Dr Fort Worth, TX	3.0	2.0	1272	$1,925	$1.51	20d	1	0.74mi
6901 N Beach St Fort Worth, TX	1.0–3.0	1.0–2.0	855	$1,596	$1.87	45d	1	0.75mi
4621 Riverpark Dr Fort Worth, TX	3.0	2.0	1238	$1,800	$1.45	12d	1	0.77mi
4648 Birchbend Ln Fort Worth, TX	3.0	2.0	1322	$1,850	$1.40	24d	1	0.77mi
4241 Iris Ave Fort Worth, TX	3.0	2.0	1421	$1,975	$1.39	26d	1	0.82mi
6960 N Beach St Fort Worth, TX	1.0–3.0	1.0–2.0	908	$1,929	$2.12	1d	29	0.84mi
4205 Fernleaf Dr Fort Worth, TX	3.0	2.0	1385	$2,130	$1.54	45d	1	0.84mi
4621 Rose of Sharon Ln Fort Worth, TX	3.0	2.0	1118	$1,800	$1.61	19d	1	0.91mi
8112 Broken Arrow Rd Fort Worth, TX	3.0	2.0	1441	$1,815	$1.26	13d	1	0.93mi
8060 Cannonwood Dr Fort Worth, TX	3.0	2.0	1471	$1,950	$1.33	45d	1	0.96mi
4741 Birchbend Ln Fort Worth, TX	3.0	2.0	1313	$1,850	$1.41	16d	1	0.97mi
4741 Birchbend Ln Fort Worth, TX	3.0	2.0	1313	$1,850	$1.41	1d	1	0.97mi
6761 Sandshell Blvd Fort Worth, TX	1.0–3.0	1.0–2.0	1099	$2,640	$2.40	4d	24	1.02mi

Listing history 3 events

1. 2026-06-21
   days on market $199,900 Active 3 DOM
2. 2026-06-18
   remarks 608-char remark
3. 2026-06-18
   listed $199,900 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: $4,746 · $395/mo
• Projected year-2 tax: $4,746 · $395/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 7/10 Severe 7 d/yr ≥109°F today · 23 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 19% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,746
• − Mortgage interest: −$11,198
• − Property taxes: −$4,746
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,820
• − Management: −$1,820
• − Depreciation: −$5,815
• Taxable loss: −$3,652
• Est. tax savings @ 24.0%: +$876
• After-tax cash flow: $520/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: 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 — 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): 60,352
• Household income: $90,718
• Rent vs Own: 41.4% rent · 58.6% own
• Severe rent burden: 1857.0

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: Highly diverse neighborhood (Simpson 0.70)
• Race & ethnicity: White 46% Hispanic / Latino 24% Black 15% Two or more races 13% Asian 10%
• Hispanic origin (detail): Mexican 18% Puerto Rican 1%
• Common ancestry: Italian 2% Lithuanian 1% Slovak 1%
• Foreign-born: 16% · Canada, Vietnam, South Korea
• Languages at home: 74% English-only · Spanish 15% Other Indo-European 4% 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: ▼ -108.62%
• Current HPI: 268.8753
• Rent YoY: ▼ -1.37%
• 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

4 events — show timeline

• 2026-06-18 Listed $199,900 NTREIS
• 1998-12-31 Sold (Public Records) — Public Records
• 1998-10-07 Sold (Public Records) — Public Records
• 1995-02-03 Sold (Public Records) — Public Records

Property tax history

+6.3%/yr

Latest (2025): $4,746 · +8.0% YoY. Source: county tax records.