1804 Coral Rd · Pelican Bay, TX 76020

$229,000

4 bd · 2.5 ba · 1,920 sqft · Manufactured public records · 49 Days on market

Built 2021 7,884 sqft lot $119/sqft · at area comps Est $223k · at est.

---

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).

• Cash flow +19.2/30.0
• ARV discount +6.3/15.0
• DSCR +6.1/10.0
• 1% rule +4.1/10.0
• Schools +3.6/10.0
• Rent growth +3.1/5.0
• Livability +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Check out this new 3 bed 2.5 bath home at just over 1800 sq ft you will have plenty of room. Flex Room for more storage or home office. More lots and Floor plans available, call agent for details. Use one of Sellers preferred Lenders and receive 3000 towards closing. Pics are for reference only, colors may vary. New pics coming soon. All info contained with in to be verified by buyer or buyers agent.

Key facts

• Open-concept design
• Dual walk-in closets
• Jack & jill bath

Tags

• OPEN-CONCEPT DESIGN
• CHEF'S KITCHEN
• OVERSIZED ISLAND
• JACK & JILL BATH
• DUAL WALK-IN CLOSETS
• SOAKING TUB

Property features AI

Finance

• Other: Satellite dish installed; Property is residential single-family and not attached; Municipal Utility District: No; Energy-efficient features include HVAC, insulation, lighting, roof, thermostat, and water heater
• Financial info: Listing terms include Cash, Conventional, FHA, USDA Loan, VA Loan
• HOA & community: No homeowners association; Community features include boat ramp, community dock, fishing, lake, and park

Exterior

• Parking: Detached carport; 2 covered spaces; 2 carport spaces; Additional parking on gravel
• Security: Burglar alarm; Fire alarm; Smoke detectors; Wireless security
• Utilities: City water available; City sewer available; Co-op electric; Electricity available; Cable available; Sewer available; Gravel/rock access; Dirt (drive/yard surface)
• Home design: Single-family residence; One story; Property faces unspecified
• Construction: Built in 2021; Vinyl siding; Shingle roof; Other foundation
• Exterior features: Covered front and rear porches; Covered decks and patio; Awning(s); Lighting; Storage; Shed(s); Few trees

Interior

• Kitchen: Dishwasher; Disposal; Electric cooktop; Electric oven; Kitchen island; Eat-in kitchen; Water line to refrigerator
• Bedrooms: 4 bedrooms; Primary bedroom on main level with ensuite bath and walk-in closet; Remaining bedrooms on main level with split-bedroom layout and walk-in closets
• Flooring: Laminate flooring
• Bathrooms: 2 full bathrooms; 1 half bath; Primary bath with garden tub, separate shower, dual sinks, and built-in cabinets
• Heating & cooling: Central heating (electric); Central air; Ceiling fan(s); ENERGY STAR qualified equipment
• Interior features: Open floorplan; Kitchen island; Built-in cabinets; Cable TV available; Wired for data; Water purifier; Water softener; Room count: 11; One living area; One dining area; Levels: One
• Laundry & utility: Full-size washer/dryer area; Washer hookup; Electric dryer hookup; Utility room with built-in cabinets and space for a freezer; On-site laundry

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath manufactured listed at $229k.

Deal economics

• At list price, monthly cash flow is $248 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $209k (8.9% below list).
• Recommended offer: $209k (8.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 62/100 on livability (#917 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: health & safety D+, amenities F, commute F.
• Azle ISD (suburban): math 37% / reading 43% proficiency, ranked #351 of 826 in TX (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Liberty El (math 32% / reading 42%, grade F, #1,769 of 4,322 statewide, top 44%, 466 students, 64% FRL) — zoned schools average 64% FRL vs 45% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.3%/yr); 591 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 18,938 units permitted in Tarrant County in 2024 (8,336 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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 49 days — a 3% lower offer ($222k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 6y 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: moderate wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $208,698 (8.9% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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?
5. 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.
6. 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.
7. 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: 0.91% ✗
• Cap rate: 7.59%
• Cash-on-cash: 4.64%
• DSCR: 1.21
• GRM: 9.1

CMA / ARV

• ARV (median comp): $222,977
• List price: $229,000
• Delta: 2.70%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1820 Pelican E	0.14mi	4/2.0	2,010 (+5%)	1mo	$230,000	$114	83
1870 Long Cir	0.14mi	4/2.0	1,941 (+1%)	15mo	$239,900	$124	77
1717 Gale Dr	0.18mi	4/2.0	1,680 (-12%)	0mo	$199,900	$119	69
1313 Sheri Ln N	0.52mi	4/2.5	1,830 (-5%)	1mo	$229,900	$126	67
1643 Sheila Dr	0.24mi	3/2.0 (-1)	1,848 (-4%)	13mo	$139,500	$75	65
1272 Lindale Ter	0.65mi	4/2.5	2,016 (+5%)	13mo	$175,000	$87	50

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 · 2.31% rent growth · sell at horizon

5-year hold

• IRR: -9.8%
• Equity multiple: 0.64×
• Total profit: $-22,820
• Equity at exit: $34,145

10-year hold

• IRR: -1.3%
• Equity multiple: 0.91×
• Total profit: $-5,667
• Equity at exit: $19,800

Cash invested: $64,120 (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 76020

• Home prices YoY: -20.6%
• Rents YoY: 2.3%
• Active inventory: 591
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $2,087 medium
• Mortgage (P&I): −$1,201
• Tax from tax record: −$104 /mo · $1,250/yr
• Insurance: −$95
• HOA: −$0
• Vacancy / Maint / Mgmt: −$438
• Net cashflow: $248

Break-even live

Break-even rent $1,773

Max offer price $229,000

Occupancy floor 83%

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: $57,250
• Closing costs: $6,870
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1844 Sheila Dr Azle, TX	3.0	2.0	1319	$1,675	$1.27	6d	1	0.10mi
1408 Yachtclub Dr Azle, TX	3.0	2.0	1302	$2,000	$1.54	12d	1	0.50mi
448 Kaufman Dr Azle, TX	4.0	3.0	2091	$2,500	$1.20	1d	1	1.18mi
312 Blanco Dr Azle, TX	4.0	2.0	2082	$2,495	$1.20	1d	1	1.23mi

Listing history 34 events

1. 2026-06-18
   days on market $229,000 Active 49 DOM
2. 2026-06-17
   days on market $229,000 Active 48 DOM
3. 2026-06-16
   days on market $229,000 Active 47 DOM
4. 2026-06-15
   days on market $229,000 Active 46 DOM
5. 2026-06-13
   days on market $229,000 Active 44 DOM
6. 2026-06-13
   days on market $229,000 Active 43 DOM
7. 2026-06-09
   days on market $229,000 Active 40 DOM
8. 2026-06-08
   days on market $229,000 Active 39 DOM
9. 2026-06-07
   days on market $229,000 Active 38 DOM
10. 2026-06-04
    days on market $229,000 Active 35 DOM
11. 2026-06-03
    days on market $229,000 Active 34 DOM
12. 2026-06-02
    days on market $229,000 Active 33 DOM
13. 2026-06-01
    days on market $229,000 Active 32 DOM
14. 2026-05-31
    days on market $229,000 Active 31 DOM
15. 2026-04-30
    listed $229,000 Active 830-char remark
16. 2025-11-06
    price $234,500
17. 2025-09-18
    listed $237,000 Active
18. 2021-05-28
    soldstatus Sold

    Show marketing remark (403 chars)

    Check out this new 3 bed 2.5 bath home at just over 1800 sq ft you will have plenty of room. Flex Room for more storage or home office. More lots and Floor plans available, call agent for details. Use one of Sellers preferred Lenders and receive 3000 towards closing. Pics are for reference only, colors may vary. New pics coming soon. All info contained with in to be verified by buyer or buyers agent.

19. 2021-04-30
    status Pending

    Show marketing remark (403 chars)

    Check out this new 3 bed 2.5 bath home at just over 1800 sq ft you will have plenty of room. Flex Room for more storage or home office. More lots and Floor plans available, call agent for details. Use one of Sellers preferred Lenders and receive 3000 towards closing. Pics are for reference only, colors may vary. New pics coming soon. All info contained with in to be verified by buyer or buyers agent.

20. 2021-04-21
    historical Active Option Contract

    Show marketing remark (403 chars)

    Check out this new 3 bed 2.5 bath home at just over 1800 sq ft you will have plenty of room. Flex Room for more storage or home office. More lots and Floor plans available, call agent for details. Use one of Sellers preferred Lenders and receive 3000 towards closing. Pics are for reference only, colors may vary. New pics coming soon. All info contained with in to be verified by buyer or buyers agent.

21. 2021-03-25
    listed $192,900 Active

    Show marketing remark (403 chars)

    Check out this new 3 bed 2.5 bath home at just over 1800 sq ft you will have plenty of room. Flex Room for more storage or home office. More lots and Floor plans available, call agent for details. Use one of Sellers preferred Lenders and receive 3000 towards closing. Pics are for reference only, colors may vary. New pics coming soon. All info contained with in to be verified by buyer or buyers agent.

22. 2021-01-06
    soldstatus Sold
23. 2021-01-05
    soldstatus
24. 2020-11-11
    status Pending
25. 2020-11-10
    status Active
26. 2020-08-07
    status Pending
27. 2020-07-27
    status Active
28. 2020-07-08
    status Pending
29. 2020-07-01
    historical Active Option Contract
30. 2020-06-02
    listed $39,000 Active
31. 2017-06-12
    soldstatus
32. 2008-09-23
    soldstatus
33. 2003-10-16
    soldstatus
34. 1995-01-01
    soldstatus

ⓘ 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: $1,250 · $104/mo
• Projected year-2 tax: $4,191 · $349/mo
• Expected delta: +$2,940/yr (+$245/mo · 235.1%)

ⓘ 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 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 22 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 24% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,044
• − Mortgage interest: −$12,828
• − Property taxes: −$1,250
• − Insurance: −$1,145
• − Repairs & maintenance: −$2,004
• − Management: −$2,004
• − Depreciation: −$6,662
• Taxable loss: −$848
• Est. tax savings @ 24.0%: +$204
• After-tax cash flow: $3,182/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: Azle ISD
• NCES district ID: 4809200
• Math proficiency: 37% ▼ -11.00%
• Reading proficiency: 43% ▼ -5.00%
• Median HH income: $61,473
• Composite: 35.57/100
• National rank: #4900
• State rank: #351 of 826 in TX

Livability — Pelican Bay

• Score: 62/100
• State rank: #917
• US rank: #16376

Category grades

Amenities F Commute F Cost of living A+ Crime A Employment F Housing A+ Health & safety D+ User ratings C+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pelican Bay, TX
• County: Parker County · 144,797 people
• Metro: Dallas-Fort Worth-Arlington, TX
• Population (ZIP): 34,602
• Household income: $87,298
• Rent vs Own: 22.3% rent · 77.7% own
• Severe rent burden: 433.0

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: Predominantly White (78%)
• Race & ethnicity: White 78% Hispanic / Latino 18% Two or more races 9% Black 1%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Slovak 2% Italian 1% Portuguese 1%
• Foreign-born: 5% · Canada
• Languages at home: 89% English-only · Spanish 11%

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: ▼ -74.72%
• Current HPI: 287.155
• Rent YoY: ▲ 2.31%
• 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

+487.2% since first listed

20 events — show timeline

• 2026-04-30 Listed $229,000 NTREIS
• 2025-11-06 Price Changed $234,500 NTREIS
• 2025-09-18 Listed $237,000 NTREIS
• 2021-05-28 Sold (MLS) — NTREIS
• 2021-04-30 Pending — NTREIS
• 2021-04-21 Contingent — NTREIS
• 2021-03-25 Listed $192,900 NTREIS
• 2021-01-06 Sold (MLS) — NTREIS
• 2021-01-05 Sold (Public Records) — Public Records
• 2020-11-11 Pending — NTREIS
• 2020-11-10 Relisted — NTREIS
• 2020-08-07 Pending — NTREIS
• 2020-07-27 Relisted — NTREIS
• 2020-07-08 Pending — NTREIS
• 2020-07-01 Contingent — NTREIS
• 2020-06-02 Listed $39,000 NTREIS
• 2017-06-12 Sold (Public Records) — Public Records
• 2008-09-23 Sold (Public Records) — Public Records
• 2003-10-16 Sold (Public Records) — Public Records
• 1995-01-01 Sold (Public Records) — Public Records

Property tax history

+13.3%/yr

Latest (2025): $1,250 · -11.9% YoY. Source: county tax records.