7704 Shorthorn Way

Fort Worth, TX 76131

$264,311D-

3 bd · 2.0 ba · 1,647 sqft · Built 2014 · SingleFamily · Active · 105 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,233/mo
• Mortgage (P&I): −$1,386
• Tax + insurance: −$715
• HOA: −$57
• Vac / Maint / Mgmt: −$469
• Net cashflow: $-394/mo
• Annual: $-4,729/yr
• Cap rate: 4.50%
• Cash-on-cash: -6.39%
• DSCR: 0.72
• 1% rule: 0.84%
• Cash to close: $74,007

Investor read

• This is a 3-bed/2.0-bath single-family listed at $264k.
• At list price, monthly cash flow is $-394 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $195k (26.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $223k (15.5% below list).
• It's been on market 105 days — a 9% lower offer ($241k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $195k (26.3% below list) — sets the bar for cash-flow.
• 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 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.
• Keller ISD (urban): math 50% / reading 54% proficiency, ranked #91 of 826 in TX (top 11%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 19% free/reduced lunch — higher-income household profile.
• Zoned schools: Basswood El (math 27% / reading 32%, grade F, #2,525 of 4,322 statewide, top 62%, 513 students, 61% FRL); Fossil Hill Middle (math 32% / reading 43%, grade F, #736 of 1,662 statewide, top 45%, 838 students, 61% FRL); Fossil Ridge H S (math 41% / reading 55%, grade D, #571 of 1,632 statewide, top 36%, 2,329 students, 51% FRL) — zoned schools average 58% FRL vs 19% district-wide (39 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 38% at this address vs 52% district-wide (-14 pts) — the specific schools serving this property underperform the Keller ISD average; the district grade overstates school quality for this exact location.
• Watch-outs: property tax is 2.7% of price.
• Market conditions: Rents soft (-0.2%/yr); 478 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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.
• 3 sale attempts since 9y ago; this cycle's ask has dropped $21k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Climate carrying-cost: extreme-heat days projected 7→24/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 105 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?