507 S Walnut Creek Dr

Mansfield, TX 76063

$250,000D

4 bd · 2.0 ba · 1,642 sqft · Built 1980 · SingleFamily · Active · 46 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,293/mo
• Mortgage (P&I): −$1,311
• Tax + insurance: −$572
• HOA: −$0
• Vac / Maint / Mgmt: −$481
• Net cashflow: $-72/mo
• Annual: $-864/yr
• Cap rate: 5.95%
• Cash-on-cash: -1.23%
• DSCR: 0.95
• 1% rule: 0.92%
• Cash to close: $70,000

Investor read

• This is a 4-bed/2.0-bath single-family listed at $250k.
• At list price, monthly cash flow is $-72 ($-864/yr) — negative.
• To cash-flow at today's rent, offer at most $237k (5.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $229k (8.3% below list).
• It's been on market 46 days — a 3% lower offer ($242k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $229k (8.3% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 72/100 on livability (#243 in TX) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: amenities F, commute F, health & safety D-.
• 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: Erma Nash El (math 27% / reading 36%, grade F, #2,396 of 4,322 statewide, top 56%, 662 students, 65% FRL); Rogene Worley Middle (math 46% / reading 51%, grade C-, #392 of 1,662 statewide, top 24%, 686 students, 48% FRL); Mansfield Lake Ridge H S (math 62% / reading 72%, grade B, #163 of 1,632 statewide, top 11%, 2,653 students, 28% FRL).
• Market conditions: Rents soft (-1.2%/yr); 740 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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.
• 4 sale attempts since 15y 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→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.9% vs local median 2.8% in Mansfield — 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 46 days. Have you received any prior offers? Is the seller open to a 8% concession, seller financing, or rate buy-down credit?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are A-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.
• 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.