104 N Heights Dr · Crowley, TX 76036

$565,000

8 bd · 4.0 ba · 3,448 sqft · MultiFamily public records · 90 Days on market

Built 1987 9,104 sqft lot

---

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 +18.5/30.0
• ARV discount +7.5/15.0
• DSCR +5.8/10.0
• 1% rule +5.4/10.0
• Livability +3.8/5.0
• Rent growth +3.1/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks

Investor or owner-occupant opportunity in Crowley. This 3,448 sq ft 4-plex includes four 2-bed, 1-bath units—two leased and two owner-occupied, offering flexibility for added rental income or on-site living. Following prior inspections, a licensed electrician, HVAC tech, and plumber have evaluated the property, and the seller has quotes in hand. Seller is willing to complete reasonable repairs or offer credits based on those quotes or buyer-provided bids. Zoned MF and located near schools, retail, and major highways, the property sits in a strong rental corridor with value-add potential through cosmetic updates and rent optimization. Priced at $565,000, this asset offers stability, in

Key facts

• Live-in investment
• Pro forma upside
• Zoned mf

Tags

• ZONED MF
• 3 OF 4 UNITS RENTED
• LIVE-IN INVESTMENT
• PRO FORMA UPSIDE
• STRONG LOCATION
• INVESTOR-FRIENDLY MARKET

Property features AI

Finance

• Other: Listing terms include Assumable, Cash, Contract, Conventional, Conventional Assumable, FHA
• Financial info: Property is listed as residential income (quadruplex); Multi-unit building: 1 building containing 4 units; Unit count: 4 with 100% occupancy; Gross annual income/expenses and NOI reported as 0.00 (no financials provided)
• HOA & community: No association

Exterior

• Parking: On-site parking with additional spaces (8 total parking spaces)
• Security: Fire alarm
• Utilities: Cable available; Electricity available and connected; Municipal utilities (MUD)
• Home design: Residential income property; Quadruplex; Accessible approach with ramp and accessible entrance
• Construction: Brick construction; Composition roof; Slab foundation; Built in 1987
• Exterior features: Wood full backyard fence; Acreage lot features (less than 0.5 acre); Concrete curbs

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator
• Bedrooms: 8 bedrooms total
• Flooring: Carpet; Laminate; Luxury vinyl plank
• Bathrooms: 4 full bathrooms
• Heating & cooling: Central heating; Central air
• Interior features: Open floor plan; Cable TV available; Two levels
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.0-bath units multifamily listed at $565k.

Deal economics

• At list price, monthly cash flow is $541 ($6k/yr) — positive. Per door: $135/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $565k).
• Recommended offer: $531k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.4% vs local median 4.5% in Crowley — 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 76/100 on livability (#103 in TX, #3,462 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Crowley ISD (urban): math 23% / reading 32% proficiency, ranked #643 of 826 in TX (top 78%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Bess Race El (math 28% / reading 32%, grade F, #2,500 of 4,322 statewide, top 58%, 665 students, 77% FRL) — zoned schools average 77% FRL vs 52% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.3%/yr); 1018 active listings in the ZIP; solid renter incomes; 18,938 units permitted in Tarrant County in 2024 (8,336 in 5+ unit buildings).
• At $5,876/mo this rent would consume 72% of the median local household income ($98k/yr) (locally 584% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $17k 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 90 days — a 6% lower offer ($531k) is reasonable based on typical stale-listing flexibility.
• 14 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.

Risks & watch-outs

• 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.

Recommended offer $531,100 (6.0% below list)

Questions for the listing agent

1. It's been on market 90 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.04% ✓
• Cap rate: 7.44%
• Cash-on-cash: 4.10%
• DSCR: 1.18
• GRM: 8.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.28% rent growth · sell at horizon

5-year hold

• IRR: -10.7%
• Equity multiple: 0.61×
• Total profit: $-61,123
• Equity at exit: $84,243

10-year hold

• IRR: -2.4%
• Equity multiple: 0.84×
• Total profit: $-25,109
• Equity at exit: $48,851

Cash invested: $158,200 (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 76036

• Home prices YoY: -25.2%
• Rents YoY: 2.3%
• Active inventory: 1018
• Price-to-rent: 32.1×

Monthly cashflow live

• Estimated rent: $5,876 high
• Mortgage (P&I): −$2,963
• Tax from tax record: −$903 /mo · $10,834/yr
• Insurance: −$235
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,234
• Net cashflow: $541

Break-even live

Break-even rent $5,191

Max offer price $565,000

Occupancy floor 86%

Sensitivity live

Price	-10% $861	-5% $701	+0% $541	+5% $381	+10% $221
Rent	-10% $77	-5% $309	+0% $541	+5% $773	+10% $1,005
Rate	-1.0pp $825	-0.5pp $685	base $541	+0.5pp $394	+1.0pp $246

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$5,876
Total (4 units)			$5,876

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: $141,250
• Closing costs: $16,950
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-06-18
   days on market $565,000 Active 90 DOM
2. 2026-06-17
   days on market $565,000 Active 89 DOM
3. 2026-06-16
   days on market $565,000 Active 88 DOM
4. 2026-06-15
   days on market $565,000 Active 87 DOM
5. 2026-06-13
   days on market $565,000 Active 85 DOM
6. 2026-06-13
   statusdays on market $565,000 Active 84 DOM
7. 2026-05-18
   status Pending
8. 2026-05-01
   historical Active Option Contract
9. 2026-04-08
   price $565,000
10. 2026-04-07
    status Active
11. 2026-03-28
    historical Active Option Contract
12. 2026-03-20
    status Active
13. 2026-03-11
    historical Active Option Contract
14. 2026-02-24
    historical
15. 2026-02-21
    listed $580,000 Active
16. 2026-01-29
    status Active
17. 2025-10-03
    listed $580,000 Active
18. 2025-07-21
    price $549,000
19. 2025-04-28
    listed $559,500 Active
20. 2022-09-15
    soldstatus Closed
21. 2022-09-15
    soldstatus
22. 2022-09-12
    status Pending
23. 2022-07-22
    historical Active Option Contract
24. 2022-06-16
    status Active
25. 2022-05-31
    historical Active Option Contract
26. 2022-05-18
    listed $499,000 Active
27. 2022-05-12
    historical
28. 2022-04-28
    listed $499,000
29. 2020-06-19
    soldstatus
30. 2020-06-18
    soldstatus Sold
31. 2020-03-19
    status Pending
32. 2020-03-08
    historical Active Option Contract
33. 2020-02-11
    listed $425,000 Active
34. 2015-08-06
    soldstatus
35. 2015-07-31
    soldstatus Sold
36. 2015-07-14
    status Pending
37. 2015-07-08
    historical Active Option Contract
38. 2015-05-24
    listed $295,000 Active
39. 2013-08-27
    historical
40. 2012-07-23
    status Pending
41. 2012-03-20
    listed $189,000 Active
42. 2007-08-21
    soldstatus
43. 2007-07-31
    historical
44. 2007-06-11
    listed $189,000
45. 2005-02-24
    soldstatus
46. 2005-01-25
    historical
47. 2004-10-11
    listed $189,900
48. 2002-09-23
    soldstatus
49. 2002-09-23
    soldstatus
50. 1986-07-29
    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: $10,834 · $903/mo
• Projected year-2 tax: $10,834 · $903/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 6/10 Major 27% 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: $70,512
• − Mortgage interest: −$31,649
• − Property taxes: −$10,834
• − Insurance: −$2,825
• − Repairs & maintenance: −$5,641
• − Management: −$5,641
• − Depreciation: −$16,436
• Taxable loss: −$2,514
• Est. tax savings @ 24.0%: +$603
• After-tax cash flow: $7,094/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: Crowley ISD
• NCES district ID: 4815910
• Math proficiency: 23% ▼ -15.00%
• Reading proficiency: 32% ▼ -6.00%
• Median HH income: $59,810
• Composite: 25.04/100
• National rank: #7549
• State rank: #643 of 826 in TX

Livability — Crowley

• Score: 76/100
• State rank: #103
• US rank: #3462

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Crowley, TX
• County: Tarrant County · 2,033,669 people
• City population: 36,044
• Metro: Dallas-Fort Worth-Arlington, TX
• Population (ZIP): 36,044
• Household income: $97,973
• Rent vs Own: 23.7% rent · 76.3% own
• Severe rent burden: 584.0

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 0.65)
• Race & ethnicity: White 48% Hispanic / Latino 28% Black 20% Two or more races 14% Asian 2%
• Hispanic origin (detail): Mexican 23% Puerto Rican 2%
• Common ancestry: Slovak 3% Italian 2% Serbian 1%
• Foreign-born: 8% · Canada, Vietnam
• Languages at home: 79% English-only · Spanish 18% Other Indo-European 1% Vietnamese 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: ▼ -80.45%
• Current HPI: 238.6365
• Rent YoY: ▲ 2.28%
• 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

+197.5% since first listed

45 events — show timeline

• 2026-05-18 Pending — NTREIS
• 2026-05-01 Contingent — NTREIS
• 2026-04-08 Price Changed $565,000 NTREIS
• 2026-04-07 Relisted — NTREIS
• 2026-03-28 Contingent — NTREIS
• 2026-03-20 Relisted — NTREIS
• 2026-03-11 Contingent — NTREIS
• 2026-02-24 Listing Removed — NTREIS
• 2026-02-21 Listed $580,000 NTREIS
• 2026-01-29 Relisted — NTREIS
• 2025-10-03 Listed $580,000 NTREIS
• 2025-07-21 Price Changed $549,000 NTREIS
• 2025-04-28 Listed $559,500 NTREIS
• 2022-09-15 Sold (Public Records) — Public Records
• 2022-09-15 Sold (MLS) — NTREIS
• 2022-09-12 Pending — NTREIS
• 2022-07-22 Contingent — NTREIS
• 2022-06-16 Relisted — NTREIS
• 2022-05-31 Contingent — NTREIS
• 2022-05-18 Listed $499,000 NTREIS
• 2022-05-12 Listing Removed — NTREIS
• 2022-04-28 Listed $499,000 NTREIS
• 2020-06-19 Sold (Public Records) — Public Records
• 2020-06-18 Sold (MLS) — NTREIS
• 2020-03-19 Pending — NTREIS
• 2020-03-08 Contingent — NTREIS
• 2020-02-11 Listed $425,000 NTREIS
• 2015-08-06 Sold (Public Records) — Public Records
• 2015-07-31 Sold (MLS) — NTREIS
• 2015-07-14 Pending — NTREIS
• 2015-07-08 Contingent — NTREIS
• 2015-05-24 Listed $295,000 NTREIS
• 2013-08-27 Listing Removed — NTREIS
• 2012-07-23 Pending — NTREIS
• 2012-03-20 Listed $189,000 NTREIS
• 2007-08-21 Sold (MLS) — NTREIS
• 2007-07-31 Listing Removed — NTREIS
• 2007-06-11 Listed $189,000 NTREIS
• 2005-02-24 Sold (MLS) — NTREIS
• 2005-01-25 Listing Removed — NTREIS
• 2004-10-11 Listed $189,900 NTREIS
• 2002-09-23 Sold (Public Records) — Public Records
• 2002-09-23 Sold (Public Records) — Public Records
• 1986-07-29 Sold (Public Records) — Public Records
• 1983-09-29 Sold (Public Records) — Public Records

Property tax history

+5.4%/yr

Latest (2025): $10,834 · +0.4% YoY. Source: county tax records.