3004 Encino Dr · Fort Worth, TX 76116

$179,900

3 bd · 2.0 ba · 1,438 sqft · SingleFamily public records · 44 Days on market

Built 1971 8,756 sqft lot $125/sqft · 32% below area Est $263k · 32% 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 +15.0/15.0
• Cash flow +8.8/30.0
• Livability +4.0/5.0
• 1% rule +3.5/10.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• DSCR +2.4/10.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

House is currently leased thru 2019. Investor special! Turnkey investment opportunity!

Key facts

• 8,756 sq ft lot
• 2 garage spots
• Built 1971

Property features AI

Finance

• Other: Property is not attached to another dwelling; Subdivision: Western Hills Add; County: Tarrant
• Financial info: Listing terms: Cash; Loan type treated as clear; No second mortgage
• HOA & community: No homeowners association

Exterior

• Parking: Attached 2-car garage; 2 covered parking spaces; 2-car single door carport/covered area
• Security: No smart home features listed
• Utilities: City water; City sewer; Not in a municipal utility district
• Home design: Single family residence; One story; Residential property; Preowned (built in 1971)
• Construction: Brick and wood construction; Composition roof; Slab foundation; Year built 1971
• Exterior features: Lot less than 0.5 acre

Interior

• Kitchen: No appliances included
• Bedrooms: 3 bedrooms (primary bedroom on level 1)
• Flooring: Other or unspecified flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: One living area; One dining area; Other interior features
• Laundry & utility: No laundry appliances listed

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $-147 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $154k (14.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $153k (14.7% below list).
• Recommended offer: $153k (14.7% below list) — sets the bar for 1% rule.
• Cap rate 5.3% 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: 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.
• Zoned schools: Western Hills El (math 10% / reading 18%, grade F, #4,127 of 4,322 statewide, top 96%, 548 students, 97% FRL) — zoned schools average 97% FRL vs 73% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.8%/yr); 215 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); 18,938 units permitted in Tarrant County in 2024 (8,336 in 5+ unit buildings).
• This rent runs 33% of the median local income ($56k/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 $5k 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 44 days — a 3% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 14y 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.

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 $153,411 (14.7% 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. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
3. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
8. 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.
9. 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.
10. 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: 0.85% ✗
• Cap rate: 5.31%
• Cash-on-cash: -3.50%
• DSCR: 0.84
• GRM: 9.8

CMA / ARV

• ARV (median comp): $263,318
• List price: $179,900
• Delta: -31.68%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3001 Elsinor Dr	0.09mi	3/2.0	1,482 (+3%)	8mo	$260,000	$175	84
2921 Elsinor Dr	0.11mi	3/2.0	1,393 (-3%)	14mo	$249,999	$179	78
2897 Elsinor Dr	0.20mi	3/2.0	1,500 (+4%)	8mo	$205,000	$137	77
3000 San Marcos Dr	0.19mi	3/2.0	1,523 (+6%)	20mo	$259,900	$171	65
3040 Portales Dr	0.24mi	3/2.0	1,606 (+12%)	16mo	$219,000	$136	56
3021 Choctaw Trl	0.65mi	3/2.0	1,390 (-3%)	12mo	$245,000	$176	54
3049 Portales Dr	0.27mi	3/2.0	1,300 (-10%)	21mo	$250,000	$192	54
3029 Portales Dr	0.21mi	3/2.0	1,628 (+13%)	17mo	$278,000	$171	54
8733 Guadalupe Rd	0.51mi	3/1.5	1,326 (-8%)	13mo	$244,900	$185	50
3019 Las Vegas Trl	0.43mi	2/2.0 (-1)	1,558 (+8%)	17mo	$445,000	$286	47
3205 Cortez Dr	0.60mi	3/2.0	1,640 (+14%)	8mo	$180,000	$110	42
3508 Bandera Rd	0.66mi	3/1.5	1,325 (-8%)	19mo	$210,000	$158	38

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 · 1.77% rent growth · sell at horizon

5-year hold

• IRR: -23.6%
• Equity multiple: 0.20×
• Total profit: $-40,278
• Equity at exit: $26,824

10-year hold

• IRR: -22.4%
• Equity multiple: -0.08×
• Total profit: $-54,233
• Equity at exit: $15,554

Cash invested: $50,372 (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 76116

• Rents YoY: 1.8%
• Active inventory: 215
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,534 high
• Mortgage (P&I): −$943
• Tax from tax record: −$340 /mo · $4,084/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$322
• Net cashflow: $-147

Break-even live

Break-even rent $1,720

Max offer price $153,980

Occupancy floor —

Sensitivity live

Price	-10% $-45	-5% $-96	+0% $-147	+5% $-198	+10% $-249
Rent	-10% $-268	-5% $-207	+0% $-147	+5% $-86	+10% $-26
Rate	-1.0pp $-56	-0.5pp $-101	base $-147	+0.5pp $-193	+1.0pp $-241

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2917 Elsinor Dr Fort Worth, TX	3.0	2.0	1525	$1,799	$1.18	6d	1	0.14mi
8841 Avril Ct N Unit 511 Fort Worth, TX	2.0	2.0	925	$965	$1.04	45d	1	0.23mi
8841 Avril Ct N Unit 2121 Fort Worth, TX	2.0	2.0	925	$981	$1.06	0d	1	0.23mi
8627 N Normandale St Fort Worth, TX	3.0	2.0	1386	$1,700	$1.23	16d	1	0.28mi
2925 W Normandale St Unit 2121 Fort Worth, TX	2.0	2.0	899	$1,085	$1.21	0d	1	0.29mi
2925 W Normandale St Unit 511 Fort Worth, TX	2.0	2.0	899	$1,095	$1.22	6d	1	0.29mi
2925 W Normandale St Unit 2958 Fort Worth, TX	3.0	2.0	1159	$1,644	$1.42	45d	1	0.29mi
2925 W Normandale St Unit 3121 Fort Worth, TX	3.0	2.0	1159	$1,553	$1.34	0d	1	0.29mi
2925 W Normandale St Fort Worth, TX	3.0	2.0	1159	$1,721	$1.48	22d	1	0.31mi
2925 W Normandale St Fort Worth, TX	2.0	2.0	899	$1,112	$1.24	20d	1	0.31mi
9001 N Normandale St Fort Worth, TX	1.0–2.0	1.0–2.0	811	$1,169	$1.44	0d	22	0.35mi
3000 Las Vegas Trl Fort Worth, TX	2.0	1.0	1263	$1,425	$1.13	25d	1	0.40mi
3000 Las Vegas Trl Fort Worth, TX	3.0	1.0	1263	$1,675	$1.33	45d	1	0.40mi
3000 Las Vegas Trl Fort Worth, TX	3.0	2.0	1288	$1,675	$1.30	0d	1	0.40mi
3000 Las Vegas Trl Fort Worth, TX	2.0	1.0	1000	$1,425	$1.43	4d	1	0.40mi
3000 Las Vegas Trl Fort Worth, TX	2.0	1.0	1263	$1,495	$1.18	45d	1	0.40mi
3000 Las Vegas Trl Fort Worth, TX	3.0	2.0	1288	$1,675	$1.30	4d	1	0.40mi
3254 Las Vegas Trl Fort Worth, TX	1.0–2.0	1.0–2.5	957	$1,575	$1.64	3d	21	0.43mi
3117 Las Vegas Trl Unit 1 Fort Worth, TX	2.0	1.5	1160	$1,250	$1.08	45d	1	0.44mi
3117 Las Vegas Trl Unit 2 Fort Worth, TX	2.0	1.0	1160	$1,250	$1.08	45d	1	0.44mi
2840 Las Vegas Trl Fort Worth, TX	1.0–2.0	1.0–2.0	887	$1,500	$1.69	0d	10	0.45mi
2909 Las Vegas Trl Unit D Fort Worth, TX	3.0	2.0	1432	$1,250	$0.87	12d	1	0.47mi
3462 Coronado Ct Fort Worth, TX	3.0	2.0	1203	$1,795	$1.49	25d	1	0.51mi
3500 Renzel Blvd Fort Worth, TX	1.0–3.0	1.0–2.0	875	$1,297	$1.48	0d	26	0.61mi
2950 Alemeda St Fort Worth, TX	2.0–4.0	2.0	1129	$1,595	$1.41	0d	13	0.75mi
3204 Phoenix Dr Fort Worth, TX	3.0	2.0	1616	$1,995	$1.23	4d	1	0.85mi
3204 Phoenix Dr Fort Worth, TX	3.0	2.0	1616	$1,995	$1.23	45d	1	0.85mi
3204 Phoenix Dr Fort Worth, TX	3.0	2.0	1616	$1,850	$1.14	7d	1	0.85mi
8300 Doreen Ave Fort Worth, TX	3.0	2.0	1564	$1,975	$1.26	45d	1	0.86mi
8225 Calmont Ave Fort Worth, TX	3.0	1.0–2.5	1075	$1,950	$1.81	7d	20	0.88mi
8204 Marydean Ave Fort Worth, TX	3.0	2.0	1115	$1,495	$1.34	45d	1	0.90mi
8300 Calmont Ave Unit 1113 Fort Worth, TX	2.0	2.0	952	$1,299	$1.36	25d	1	0.93mi
8300 Calmont Ave Unit 914 Fort Worth, TX	2.0	2.0	952	$1,299	$1.36	7d	1	0.93mi
8300 Calmont Ave Unit 1321 Fort Worth, TX	2.0	2.0	952	$1,299	$1.36	15d	1	0.93mi
8300 Calmont Ave Unit 722 Fort Worth, TX	2.0	2.0	952	$1,299	$1.36	0d	1	0.93mi
3159 Francis Dr Unit 3161 Fort Worth, TX	3.0	2.0	1244	$1,795	$1.44	25d	1	0.94mi
8164 Marydean Ave Fort Worth, TX	3.0	2.0	1115	$1,525	$1.37	0d	1	0.94mi
1823 S Las Vegas Trl Fort Worth, TX	2.0	2.0	900	$1,360	$1.51	45d	1	0.96mi
8142 Tanner Ave Fort Worth, TX	3.0	2.0	1100	$1,595	$1.45	45d	1	0.97mi
8141 Julie Ave Unit 8141 Fort Worth, TX	2.0	2.0	900	$1,295	$1.44	16d	1	0.98mi

Listing history 27 events

1. 2026-06-21
   days on market $179,900 Active 44 DOM
2. 2026-06-18
   days on market $179,900 Active 41 DOM
3. 2026-06-17
   days on market $179,900 Active 40 DOM
4. 2026-06-16
   days on market $179,900 Active 39 DOM
5. 2026-06-15
   days on market $179,900 Active 38 DOM
6. 2026-06-13
   days on market $179,900 Active 36 DOM
7. 2026-06-09
   days on market $179,900 Active 32 DOM
8. 2026-06-08
   days on market $179,900 Active 31 DOM
9. 2026-06-07
   days on market $179,900 Active 30 DOM
10. 2026-06-04
    days on market $179,900 Active 27 DOM
11. 2026-06-03
    days on market $179,900 Active 26 DOM
12. 2026-06-02
    days on market $179,900 Active 25 DOM
13. 2026-06-01
    days on market $179,900 Active 24 DOM
14. 2026-05-31
    days on market $179,900 Active 23 DOM
15. 2026-05-08
    listed $184,900 Active
16. 2017-09-19
    soldstatus
17. 2017-09-11
    soldstatus Sold 88-char remark

    Show marketing remark (88 chars)

    House is currently leased thru 2019. Investor special! Turnkey investment opportunity!

18. 2017-07-03
    status Pending 88-char remark

    Show marketing remark (88 chars)

    House is currently leased thru 2019. Investor special! Turnkey investment opportunity!

19. 2017-06-21
    price $126,900 88-char remark

    Show marketing remark (88 chars)

    House is currently leased thru 2019. Investor special! Turnkey investment opportunity!

20. 2017-06-06
    listed $129,900 Active 88-char remark

    Show marketing remark (88 chars)

    House is currently leased thru 2019. Investor special! Turnkey investment opportunity!

21. 2017-05-25
    soldstatus
22. 2013-04-30
    soldstatus
23. 2012-11-13
    soldstatus
24. 2012-11-09
    soldstatus Closed

    Show marketing remark (438 chars)

    LOTS OF POTENTIAL in this awesome find in West Fort Worth! A little TLC goes a long way as natural light floods this home's 2 spacious living areas and huge master bedroom. Large divided back yard, and a pass-through window that opens to a covered porch. Great for entertaining, playing kids & pets, or enjoying a crisp autumn day. Attic conversion offers a huge 3rd bedroom to complement a nice-sized 2nd bedroom, and 2 full baths.

25. 2012-10-26
    status Pending

    Show marketing remark (438 chars)

    LOTS OF POTENTIAL in this awesome find in West Fort Worth! A little TLC goes a long way as natural light floods this home's 2 spacious living areas and huge master bedroom. Large divided back yard, and a pass-through window that opens to a covered porch. Great for entertaining, playing kids & pets, or enjoying a crisp autumn day. Attic conversion offers a huge 3rd bedroom to complement a nice-sized 2nd bedroom, and 2 full baths.

26. 2012-10-05
    price $64,900

    Show marketing remark (438 chars)

    LOTS OF POTENTIAL in this awesome find in West Fort Worth! A little TLC goes a long way as natural light floods this home's 2 spacious living areas and huge master bedroom. Large divided back yard, and a pass-through window that opens to a covered porch. Great for entertaining, playing kids & pets, or enjoying a crisp autumn day. Attic conversion offers a huge 3rd bedroom to complement a nice-sized 2nd bedroom, and 2 full baths.

27. 2012-09-05
    listed $69,900 Active

    Show marketing remark (438 chars)

    LOTS OF POTENTIAL in this awesome find in West Fort Worth! A little TLC goes a long way as natural light floods this home's 2 spacious living areas and huge master bedroom. Large divided back yard, and a pass-through window that opens to a covered porch. Great for entertaining, playing kids & pets, or enjoying a crisp autumn day. Attic conversion offers a huge 3rd bedroom to complement a nice-sized 2nd bedroom, and 2 full baths.

ⓘ 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: $4,084 · $340/mo
• Projected year-2 tax: $4,084 · $340/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 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥108°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 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,409
• − Mortgage interest: −$10,077
• − Property taxes: −$4,084
• − Insurance: −$900
• − Repairs & maintenance: −$1,473
• − Management: −$1,473
• − Depreciation: −$5,233
• Taxable loss: −$4,830
• Est. tax savings @ 24.0%: +$1,159
• After-tax cash flow: $-602/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): 49,856
• Household income: $56,187
• Rent vs Own: 63.3% rent · 36.7% own
• Severe rent burden: 4188.0

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: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: White 48% Hispanic / Latino 27% Black 20% Two or more races 11% Asian 2%
• Hispanic origin (detail): Mexican 22% Puerto Rican 1%
• Common ancestry: Italian 2% Slovak 1% Lithuanian 1%
• Foreign-born: 10% · Canada, China
• Languages at home: 79% English-only · Spanish 17% Other Indo-European 1% Chinese 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: ▼ -283.10%
• Current HPI: 282.3806
• Rent YoY: ▲ 1.77%
• 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

+157.4% since first listed

14 events — show timeline

• 2026-05-22 Price Changed $179,900 NTREIS
• 2026-05-08 Listed $184,900 NTREIS
• 2017-09-19 Sold (Public Records) — Public Records
• 2017-09-11 Sold (MLS) — NTREIS
• 2017-07-03 Pending — NTREIS
• 2017-06-21 Price Changed $126,900 NTREIS
• 2017-06-06 Listed $129,900 NTREIS
• 2017-05-25 Sold (Public Records) — Public Records
• 2013-04-30 Sold (Public Records) — Public Records
• 2012-11-13 Sold (Public Records) — Public Records
• 2012-11-09 Sold (MLS) — NTREIS
• 2012-10-26 Pending — NTREIS
• 2012-10-05 Price Changed $64,900 NTREIS
• 2012-09-05 Listed $69,900 NTREIS

Property tax history

+2.9%/yr

Latest (2025): $4,084 · -2.4% YoY. Source: county tax records.