3809 May St · Fort Worth, TX 76110

$200,000

2 bd · 1.0 ba · 1,764 sqft · SingleFamily public records · 224 Days on market

Built 1928 0.29 ac lot $113/sqft · 16% below area Est $238k · 16% under

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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 +22.6/30.0
• ARV discount +14.7/15.0
• DSCR +7.2/10.0
• 1% rule +5.2/10.0
• Livability +4.0/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nestled in the Worth Heights neighborhood of Fort Worth, this charming single-family residence presents an excellent value-add opportunity for an investor and may opportunities more. Built in 1928, The property offers approximately 1,764 sq ft of living area and sits on a generous lot (12,500 sq ft) This property is well-positioned for investors seeking rental income and future appreciation a sizable lot in a mature, well-established neighborhood, offering outdoor space and so potential for expansion, landscaping, or additional income Located within the Worth Heights Addition subdivision of Tarrant County, providing access to nearby amenities.

Key facts

• Outdoor space
• Sizable lot
• 0.29 acre lot

Tags

• WORTH HEIGHTS NEIGHBORHOOD
• SIZABLE LOT
• OUTDOOR SPACE
• POTENTIAL FOR EXPANSION
• ACCESS TO NEARBY AMENITIES

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $341 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Recommended offer: $176k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.3% 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 flat; 150 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 18,938 units permitted in Tarrant County in 2024 (8,336 in 5+ unit buildings).
• This rent runs 35% of the median local income ($70k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 224 days — a 12% lower offer ($176k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $33k; list at $200k implies a 502% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1928 — 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 $176,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 224 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1928 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 1.02% ✓
• Cap rate: 8.34%
• Cash-on-cash: 7.30%
• DSCR: 1.32
• GRM: 8.1

CMA / ARV

• ARV (median comp): $238,230
• List price: $200,000
• Delta: -16.05%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3712 S Main St	0.13mi	3/2.0 (+1)	1,656 (-6%)	12mo	$299,999	$181	65
304 E Fogg St	0.25mi	3/1.0 (+1)	1,870 (+6%)	12mo	$189,900	$102	63
3832 May St	0.06mi	3/2.5 (+1)	1,706 (-3%)	22mo	$285,000	$167	62
3641 Travis	0.32mi	2/1.5	2,006 (+14%)	5mo	$89,000	$44	56
508 Flint St	0.46mi	3/2.5 (+1)	1,875 (+6%)	10mo	$285,000	$152	49
3528 Stuart Dr	0.36mi	3/2.0 (+1)	1,545 (-12%)	7mo	$315,000	$204	48
519 W Kellis St	0.66mi	3/2.0 (+1)	1,691 (-4%)	9mo	$319,999	$189	46
3500 College Ave	0.57mi	3/3.0 (+1)	1,720 (-2%)	16mo	$225,000	$131	43
1001 W Drew St	0.52mi	3/2.0 (+1)	1,968 (+12%)	19mo	$200,000	$102	32
4129 Belmeade Dr	0.70mi	3/2.0 (+1)	1,568 (-11%)	18mo	$224,900	$143	25

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 · 0.7% rent growth · sell at horizon

5-year hold

• IRR: -7.6%
• Equity multiple: 0.73×
• Total profit: $-15,374
• Equity at exit: $29,821

10-year hold

• IRR: -1.1%
• Equity multiple: 0.93×
• Total profit: $-3,729
• Equity at exit: $17,292

Cash invested: $56,000 (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 76110

• Rents YoY: 0.7%
• Active inventory: 150
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $2,047 high
• Mortgage (P&I): −$1,049
• Tax from tax record: −$144 /mo · $1,730/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$430
• Net cashflow: $341

Break-even live

Break-even rent $1,616

Max offer price $200,000

Occupancy floor 78%

Sensitivity live

Price	-10% $454	-5% $397	+0% $341	+5% $284	+10% $227
Rent	-10% $179	-5% $260	+0% $341	+5% $422	+10% $502
Rate	-1.0pp $441	-0.5pp $392	base $341	+0.5pp $289	+1.0pp $236

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3329 Hemphill St Fort Worth, TX	3.0	2.0	1425	$2,950	$2.07	44d	1	0.60mi
1246 Lowe St Fort Worth, TX	3.0	2.5	1752	$1,895	$1.08	15d	1	1.00mi
3411 8th Ave Fort Worth, TX	3.0	2.0	1280	$1,700	$1.33	5d	1	1.04mi
2932 Travis Ave Unit 2932 Fort Worth, TX	3.0	2.0	1600	$1,700	$1.06	21d	1	1.10mi
3303 8th Ave Fort Worth, TX	3.0	2.0	1348	$2,000	$1.48	25d	1	1.11mi
2837 Hemphill St Unit 202 Fort Worth, TX	2.0	2.0	1297	$1,800	$1.39	21d	1	1.18mi
2837 Hemphill St Unit 203 Fort Worth, TX	2.0	2.0	1297	$1,875	$1.45	21d	1	1.18mi
2812 Ryan Place Dr Fort Worth, TX	2.0	1.0	1234	$2,795	$2.26	18d	1	1.36mi
3445 Frazier Ave Fort Worth, TX	3.0	2.5	1540	$2,200	$1.43	44d	1	1.36mi
2701 Stuart Dr Fort Worth, TX	3.0	3.0	2104	$1,800	$0.86	44d	1	1.39mi
2911 Ryan Ave Fort Worth, TX	3.0	2.0	1790	$1,750	$0.98	7d	1	1.40mi

Listing history 17 events

1. 2026-06-18
   days on market $200,000 Active 224 DOM
2. 2026-06-17
   days on market $200,000 Active 223 DOM
3. 2026-06-16
   days on market $200,000 Active 222 DOM
4. 2026-06-15
   days on market $200,000 Active 221 DOM
5. 2026-06-13
   days on market $200,000 Active 219 DOM
6. 2026-06-09
   days on market $200,000 Active 215 DOM
7. 2026-06-08
   days on market $200,000 Active 214 DOM
8. 2026-06-07
   days on market $200,000 Active 213 DOM
9. 2026-06-04
   days on market $200,000 Active 210 DOM
10. 2026-06-03
    days on market $200,000 Active 209 DOM
11. 2026-06-02
    days on market $200,000 Active 208 DOM
12. 2026-06-02
    days on market $200,000 Active 207 DOM
13. 2026-05-31
    days on market $200,000 Active 206 DOM
14. 2026-05-04
    price $200,000 657-char remark

    Show marketing remark (657 chars)

    Nestled in the Worth Heights neighborhood of Fort Worth, this charming single-family residence presents an excellent value-add opportunity for an investor and may opportunities more. Built in 1928, The property offers approximately 1,764 sq ft of living area and sits on a generous lot (12,500 sq ft) This property is well-positioned for investors seeking rental income and future appreciation a sizable lot in a mature, well-established neighborhood, offering outdoor space and so potential for expansion, landscaping, or additional income Located within the Worth Heights Addition subdivision of Tarrant County, providing access to nearby amenities.

15. 2026-01-07
    price $214,950 657-char remark

    Show marketing remark (657 chars)

    Nestled in the Worth Heights neighborhood of Fort Worth, this charming single-family residence presents an excellent value-add opportunity for an investor and may opportunities more. Built in 1928, The property offers approximately 1,764 sq ft of living area and sits on a generous lot (12,500 sq ft) This property is well-positioned for investors seeking rental income and future appreciation a sizable lot in a mature, well-established neighborhood, offering outdoor space and so potential for expansion, landscaping, or additional income Located within the Worth Heights Addition subdivision of Tarrant County, providing access to nearby amenities.

16. 2025-11-04
    listed $215,000 Active 657-char remark

    Show marketing remark (657 chars)

    Nestled in the Worth Heights neighborhood of Fort Worth, this charming single-family residence presents an excellent value-add opportunity for an investor and may opportunities more. Built in 1928, The property offers approximately 1,764 sq ft of living area and sits on a generous lot (12,500 sq ft) This property is well-positioned for investors seeking rental income and future appreciation a sizable lot in a mature, well-established neighborhood, offering outdoor space and so potential for expansion, landscaping, or additional income Located within the Worth Heights Addition subdivision of Tarrant County, providing access to nearby amenities.

17. 1993-10-18
    soldstatus $33,250

ⓘ 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: $1,730 · $144/mo
• Projected year-2 tax: $3,660 · $305/mo
• Expected delta: +$1,930/yr (+$161/mo · 111.6%)

ⓘ 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 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,562
• − Mortgage interest: −$11,203
• − Property taxes: −$1,730
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,965
• − Management: −$1,965
• − Depreciation: −$5,818
• Taxable income: $881
• Est. tax owed @ 24.0%: −$211
• After-tax cash flow: $3,877/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): 33,441
• Household income: $69,790
• Rent vs Own: 37.6% rent · 62.4% own
• Severe rent burden: 1471.0

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: Majority Hispanic (63%)
• Race & ethnicity: Hispanic / Latino 63% White 30% Two or more races 24% Black 2% Asian 2%
• Hispanic origin (detail): Mexican 57%
• Common ancestry: Slovak 1% Italian 1% Lithuanian 1%
• Foreign-born: 26% · Canada, China
• Languages at home: 45% English-only · Spanish 52% Other Asian/Pacific 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: ▼ -194.46%
• Current HPI: 274.8888
• Rent YoY: ▲ 0.70%
• 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

+501.5% since first listed

4 events — show timeline

• 2026-05-04 Price Changed $200,000 NTREIS
• 2026-01-07 Price Changed $214,950 NTREIS
• 2025-11-04 Listed $215,000 NTREIS
• 1993-10-18 Sold (Public Records) $33,250 Public Records

Property tax history

+2.0%/yr

Latest (2025): $1,730 · +7.3% YoY. Source: county tax records.