2300 Bamboo Dr Unit N306

Arlington, TX 76006

$83,900D

1 bd · 1.0 ba · 486 sqft · Built 1983 · Condo · Pending · 121 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,003/mo
• Mortgage (P&I): −$440
• Tax + insurance: −$204
• HOA: −$242
• Vac / Maint / Mgmt: −$211
• Net cashflow: $-93/mo
• Annual: $-1,122/yr
• Cap rate: 4.96%
• Cash-on-cash: -4.78%
• DSCR: 0.79
• 1% rule: 1.20%
• Cash to close: $23,492

Investor read

• This is a 1-bed/1.0-bath condo listed at $84k.
• At list price, monthly cash flow is $-93 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $67k (19.7% below list).
• Meets the 1% rule at list price ($1k rent vs $84k).
• It's been on market 121 days — a 12% lower offer ($74k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $67k (19.7% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $580 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 78/100 on livability (#75 in TX, #2,697 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, housing A+; Watch: crime F, commute F.
• Arlington ISD (urban): math 24% / reading 34% proficiency, ranked #629 of 826 in TX (top 76%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Ellis El (math 15% / reading 22%, grade F, #3,759 of 4,322 statewide, top 88%, 757 students, 84% FRL); Nichols J H (math 20% / reading 37%, grade F, #1,122 of 1,662 statewide, top 69%, 692 students, 83% FRL); Lamar H S (math 23% / reading 38%, grade F, #1,085 of 1,632 statewide, top 67%, 2,546 students, 76% FRL) — zoned schools average 81% FRL vs 60% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: HOA is 24% of rent.
• Market conditions: Rents soft (-2.0%/yr); 90 active listings in the ZIP; 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.
• Current owner paid $26k; list at $84k implies a 226% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.0% vs local median 3.6% in Arlington — 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.

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 121 days. Have you received any prior offers? Is the seller open to a 20% 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?
• 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?
• 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 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?
• 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?