7688 Resting Mews

North Richland Hills, TX 76182

$299,900D-

3 bd · 2.5 ba · 1,497 sqft · Built 2020 · Townhouse · Active · 133 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,284/mo
• Mortgage (P&I): −$1,573
• Tax + insurance: −$734
• HOA: −$280
• Vac / Maint / Mgmt: −$480
• Net cashflow: $-782/mo
• Annual: $-9,381/yr
• Cap rate: 3.16%
• Cash-on-cash: -11.17%
• DSCR: 0.50
• 1% rule: 0.76%
• Cash to close: $83,972

Investor read

• This is a 3-bed/2.5-bath townhouse listed at $300k. Condition is rated good.
• At list price, monthly cash flow is $-782 ($-9k/yr) — negative.
• To cash-flow at today's rent, offer at most $162k (46.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $228k (23.8% below list).
• It's been on market 133 days — a 12% lower offer ($264k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $162k (46.0% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• 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-.
• Birdville ISD (suburban): math 42% / reading 43% proficiency, ranked #299 of 826 in TX (top 36%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Smithfield El (math 44% / reading 58%, grade C-, #818 of 4,322 statewide, top 19%, 610 students, 42% FRL); Smithfield Middle (math 80% / reading 59%, grade A, #63 of 1,662 statewide, top 4%, 821 students, 28% FRL); Birdville H S (math 69% / reading 65%, grade B, #163 of 1,632 statewide, top 11%, 2,086 students, 46% FRL).
• Zoned-school proficiency averages 62% at this address vs 42% district-wide (+20 pts) — the actual schools serving this property are materially stronger than the Birdville ISD average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+2.2%/yr); 301 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 50d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 72% of comp listings sitting > 30 days — soft ceiling on asking rent; 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.
• 3 sale attempts since 5y 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.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• 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?
• It's been on market 133 days. Have you received any prior offers? Is the seller open to a 46% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.