6974 Shoreview

Grand Prairie, TX 75054

$499,900D-

3 bd · 2.0 ba · 3,083 sqft · Built 2004 · SingleFamily · Active · 52 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,958/mo
• Mortgage (P&I): −$2,622
• Tax + insurance: −$997
• HOA: −$64
• Vac / Maint / Mgmt: −$621
• Net cashflow: $-1,346/mo
• Annual: $-16,156/yr
• Cap rate: 3.06%
• Cash-on-cash: -11.54%
• DSCR: 0.49
• 1% rule: 0.59%
• Cash to close: $139,972

Investor read

• This is a 3-bed/2.0-bath single-family listed at $500k.
• At list price, monthly cash flow is $-1k ($-16k/yr) — negative.
• To cash-flow at today's rent, offer at most $262k (47.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $296k (40.8% below list).
• It's been on market 52 days — a 3% lower offer ($485k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $262k (47.6% below list) — sets the bar for cash-flow.
• In year one you build about $1k of equity ($3k loan paydown + $-2k appreciation (-0.5% local appreciation)).
• Location reads 80/100 on livability (#33 in TX, #1,660 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, cost of living A+, housing A+; Watch: commute F.
• Mansfield ISD (suburban): math 47% / reading 53% proficiency, ranked #125 of 826 in TX (top 15%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Anna May Daulton El (math 62% / reading 70%, grade B+, #229 of 4,322 statewide, top 5%, 673 students, 24% FRL); Danny Jones Middle (math 51% / reading 62%, grade B, #226 of 1,662 statewide, top 14%, 853 students, 32% FRL); Mansfield Lake Ridge H S (math 62% / reading 72%, grade B, #163 of 1,632 statewide, top 11%, 2,653 students, 28% FRL).
• Zoned-school proficiency averages 63% at this address vs 50% district-wide (+13 pts) — the actual schools serving this property are materially stronger than the Mansfield ISD average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+2.2%/yr); 120 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 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.
• 5 sale attempts since 22y 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.
• By year 10, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• 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 52 days. Have you received any prior offers? Is the seller open to a 48% 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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.
• 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.