4917 Miller Ave · Fort Worth, TX 76119

$449,999

8 bd · 4.0 ba · 3,120 sqft · MultiFamily public records · 271 Days on market

Built 1986 8,364 sqft lot $144/sqft · at area comps Est $448k · at est.

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Why this score? — see what drove the C- 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 +21.5/30.0
• ARV discount +7.3/15.0
• DSCR +6.9/10.0
• 1% rule +6.3/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

UPDATE: FINAL BUILDING AVAILABLE: Great investment opportunity in Fort Worth with this multi-family property featuring four individual townhome units. Each unit offers two bedrooms and a spacious layout with a comfortable living room and a well-sized kitchen. Kitchens are equipped with stainless steel stoves and dishwashers, along with full-size washer and dryer connections for added convenience. The bedrooms are located on the second floor, offering privacy and generous closet space. Interior finishes include a combination of laminate and tile flooring, with carpeted stairs. This is a solid income-producing property in a growing area with strong rental demand.

Key facts

• 8,364 sq ft lot
• 6 parking spots
• Built 1986

Tags

• INVESTMENT OPPORTUNITY
• MULTI-FAMILY PROPERTY
• FOUR INDIVIDUAL TOWNHOME UNITS
• STAINLESS STEEL STOVES
• GENEROUS CLOSET SPACE
• LAMINATE AND TILE FLOORING

What this means for you Summary

Snapshot

• This is a 8-bed/4.0-bath multifamily listed at $450k.

Deal economics

• At list price, monthly cash flow is $678 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $450k).
• Recommended offer: $396k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.1% 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: schools D+, 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.
• Market conditions: Rents soft (-1.6%/yr); 186 active listings in the ZIP; 18,938 units permitted in Tarrant County in 2024 (8,336 in 5+ unit buildings).
• At $5,072/mo this rent would consume 119% of the median local household income ($51k/yr) (locally 2221% 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 $3k of loan paydown is wiped out by about $14k 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 271 days — a 12% lower offer ($396k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 18y 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 wind risk, 26% 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 $395,999 (12.0% below list)

Questions for the listing agent

1. It's been on market 271 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.13% ✓
• Cap rate: 8.10%
• Cash-on-cash: 6.45%
• DSCR: 1.29
• GRM: 7.4

CMA / ARV

• ARV (median comp): $447,611
• List price: $449,999
• Delta: 0.53%
• Verdict: FAIR
• Comps: 6 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4927 Miller Ave	0.01mi	8/6.0	3,120 (0%)	10mo	$451,000	$145	83
4935 Miller Ave	0.02mi	8/12.0	3,120 (0%)	22mo	$475,000	$152	60

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -10.0%
• Equity multiple: 0.65×
• Total profit: $-44,417
• Equity at exit: $67,096

10-year hold

• IRR: -5.7%
• Equity multiple: 0.68×
• Total profit: $-39,693
• Equity at exit: $38,908

Cash invested: $126,000 (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 76119

• Home prices YoY: -6.4%
• Rents YoY: -1.6%
• Active inventory: 186
• Price-to-rent: 29.6×

Monthly cashflow live

• Estimated rent: $5,072 medium
• Mortgage (P&I): −$2,360
• Tax from tax record: −$782 /mo · $9,384/yr
• Insurance: −$187
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,065
• Net cashflow: $678

Break-even live

Break-even rent $4,214

Max offer price $449,999

Occupancy floor 82%

Sensitivity live

Price	-10% $932	-5% $805	+0% $678	+5% $550	+10% $423
Rent	-10% $277	-5% $477	+0% $678	+5% $878	+10% $1,078
Rate	-1.0pp $904	-0.5pp $792	base $678	+0.5pp $561	+1.0pp $442

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1.5	$5,072
Total (4 units)			$5,072

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: $112,500
• Closing costs: $13,500
• Reserves months: —
• Total cash needed: —

Listing history 48 events

1. 2026-06-18
   days on market $449,999 Active 271 DOM
2. 2026-06-17
   days on market $449,999 Active 270 DOM
3. 2026-06-16
   days on market $449,999 Active 269 DOM
4. 2026-06-15
   days on market $449,999 Active 268 DOM
5. 2026-06-13
   days on market $449,999 Active 266 DOM
6. 2026-06-09
   days on market $449,999 Active 262 DOM
7. 2026-06-08
   days on market $449,999 Active 261 DOM
8. 2026-06-07
   days on market $449,999 Active 260 DOM
9. 2026-06-04
   days on market $449,999 Active 257 DOM
10. 2026-06-03
    days on market $449,999 Active 256 DOM
11. 2026-06-02
    remarks 699-char remark
12. 2026-06-02
    days on market $449,999 Active 255 DOM
13. 2026-06-02
    days on market $449,999 Active 254 DOM
14. 2026-05-31
    days on market $449,999 Active 253 DOM
15. 2026-05-13
    price $449,999 669-char remark

    Show marketing remark (669 chars)

    UPDATE: FINAL BUILDING AVAILABLE: Great investment opportunity in Fort Worth with this multi-family property featuring four individual townhome units. Each unit offers two bedrooms and a spacious layout with a comfortable living room and a well-sized kitchen. Kitchens are equipped with stainless steel stoves and dishwashers, along with full-size washer and dryer connections for added convenience. The bedrooms are located on the second floor, offering privacy and generous closet space. Interior finishes include a combination of laminate and tile flooring, with carpeted stairs. This is a solid income-producing property in a growing area with strong rental demand.

16. 2025-09-20
    listed $455,000 Active 669-char remark

    Show marketing remark (669 chars)

    UPDATE: FINAL BUILDING AVAILABLE: Great investment opportunity in Fort Worth with this multi-family property featuring four individual townhome units. Each unit offers two bedrooms and a spacious layout with a comfortable living room and a well-sized kitchen. Kitchens are equipped with stainless steel stoves and dishwashers, along with full-size washer and dryer connections for added convenience. The bedrooms are located on the second floor, offering privacy and generous closet space. Interior finishes include a combination of laminate and tile flooring, with carpeted stairs. This is a solid income-producing property in a growing area with strong rental demand.

17. 2024-04-22
    soldstatus
18. 2024-04-18
    soldstatus Closed 977-char remark

    Show marketing remark (977 chars)

    Ready to negotiate! A valuable asset for any portfolio, this quadruplex investment opportunity is exceptional. Consisting of four distinct units, each featuring two bedrooms, one full bath, and one half bath, it boasts versatility and potential. With approximately 780 sqft per unit, current rents stand at $1,120, with the average market value expected to increase to approximately $1,400 per month. Ideally situated near public transportation, shopping, and dining options, it caters to tenants seeking both comfort and convenience. Investors can anticipate long-term capital appreciation, with the option to gradually increase rents, ensuring a stable and profitable investment for years to come. Approved for Section 8 and professionally managed by a property management company with excellent tenant relationships, this quadruplex offers a hassle-free investment opportunity. Don't miss out on the chance to enrich your portfolio with these thriving quadruplex properties!

19. 2024-04-01
    status Pending 977-char remark

    Show marketing remark (977 chars)

    Ready to negotiate! A valuable asset for any portfolio, this quadruplex investment opportunity is exceptional. Consisting of four distinct units, each featuring two bedrooms, one full bath, and one half bath, it boasts versatility and potential. With approximately 780 sqft per unit, current rents stand at $1,120, with the average market value expected to increase to approximately $1,400 per month. Ideally situated near public transportation, shopping, and dining options, it caters to tenants seeking both comfort and convenience. Investors can anticipate long-term capital appreciation, with the option to gradually increase rents, ensuring a stable and profitable investment for years to come. Approved for Section 8 and professionally managed by a property management company with excellent tenant relationships, this quadruplex offers a hassle-free investment opportunity. Don't miss out on the chance to enrich your portfolio with these thriving quadruplex properties!

20. 2024-03-11
    price $487,000 977-char remark

    Show marketing remark (977 chars)

    Ready to negotiate! A valuable asset for any portfolio, this quadruplex investment opportunity is exceptional. Consisting of four distinct units, each featuring two bedrooms, one full bath, and one half bath, it boasts versatility and potential. With approximately 780 sqft per unit, current rents stand at $1,120, with the average market value expected to increase to approximately $1,400 per month. Ideally situated near public transportation, shopping, and dining options, it caters to tenants seeking both comfort and convenience. Investors can anticipate long-term capital appreciation, with the option to gradually increase rents, ensuring a stable and profitable investment for years to come. Approved for Section 8 and professionally managed by a property management company with excellent tenant relationships, this quadruplex offers a hassle-free investment opportunity. Don't miss out on the chance to enrich your portfolio with these thriving quadruplex properties!

21. 2024-03-07
    price $492,000 977-char remark

    Show marketing remark (977 chars)

    Ready to negotiate! A valuable asset for any portfolio, this quadruplex investment opportunity is exceptional. Consisting of four distinct units, each featuring two bedrooms, one full bath, and one half bath, it boasts versatility and potential. With approximately 780 sqft per unit, current rents stand at $1,120, with the average market value expected to increase to approximately $1,400 per month. Ideally situated near public transportation, shopping, and dining options, it caters to tenants seeking both comfort and convenience. Investors can anticipate long-term capital appreciation, with the option to gradually increase rents, ensuring a stable and profitable investment for years to come. Approved for Section 8 and professionally managed by a property management company with excellent tenant relationships, this quadruplex offers a hassle-free investment opportunity. Don't miss out on the chance to enrich your portfolio with these thriving quadruplex properties!

22. 2024-02-21
    price $495,000 977-char remark

    Show marketing remark (977 chars)

    Ready to negotiate! A valuable asset for any portfolio, this quadruplex investment opportunity is exceptional. Consisting of four distinct units, each featuring two bedrooms, one full bath, and one half bath, it boasts versatility and potential. With approximately 780 sqft per unit, current rents stand at $1,120, with the average market value expected to increase to approximately $1,400 per month. Ideally situated near public transportation, shopping, and dining options, it caters to tenants seeking both comfort and convenience. Investors can anticipate long-term capital appreciation, with the option to gradually increase rents, ensuring a stable and profitable investment for years to come. Approved for Section 8 and professionally managed by a property management company with excellent tenant relationships, this quadruplex offers a hassle-free investment opportunity. Don't miss out on the chance to enrich your portfolio with these thriving quadruplex properties!

23. 2024-02-04
    status Active 977-char remark

    Show marketing remark (977 chars)

    Ready to negotiate! A valuable asset for any portfolio, this quadruplex investment opportunity is exceptional. Consisting of four distinct units, each featuring two bedrooms, one full bath, and one half bath, it boasts versatility and potential. With approximately 780 sqft per unit, current rents stand at $1,120, with the average market value expected to increase to approximately $1,400 per month. Ideally situated near public transportation, shopping, and dining options, it caters to tenants seeking both comfort and convenience. Investors can anticipate long-term capital appreciation, with the option to gradually increase rents, ensuring a stable and profitable investment for years to come. Approved for Section 8 and professionally managed by a property management company with excellent tenant relationships, this quadruplex offers a hassle-free investment opportunity. Don't miss out on the chance to enrich your portfolio with these thriving quadruplex properties!

24. 2024-01-28
    historical Active Option Contract 977-char remark

    Show marketing remark (977 chars)

    Ready to negotiate! A valuable asset for any portfolio, this quadruplex investment opportunity is exceptional. Consisting of four distinct units, each featuring two bedrooms, one full bath, and one half bath, it boasts versatility and potential. With approximately 780 sqft per unit, current rents stand at $1,120, with the average market value expected to increase to approximately $1,400 per month. Ideally situated near public transportation, shopping, and dining options, it caters to tenants seeking both comfort and convenience. Investors can anticipate long-term capital appreciation, with the option to gradually increase rents, ensuring a stable and profitable investment for years to come. Approved for Section 8 and professionally managed by a property management company with excellent tenant relationships, this quadruplex offers a hassle-free investment opportunity. Don't miss out on the chance to enrich your portfolio with these thriving quadruplex properties!

25. 2024-01-16
    listed $525,000 Active 977-char remark

    Show marketing remark (977 chars)

    Ready to negotiate! A valuable asset for any portfolio, this quadruplex investment opportunity is exceptional. Consisting of four distinct units, each featuring two bedrooms, one full bath, and one half bath, it boasts versatility and potential. With approximately 780 sqft per unit, current rents stand at $1,120, with the average market value expected to increase to approximately $1,400 per month. Ideally situated near public transportation, shopping, and dining options, it caters to tenants seeking both comfort and convenience. Investors can anticipate long-term capital appreciation, with the option to gradually increase rents, ensuring a stable and profitable investment for years to come. Approved for Section 8 and professionally managed by a property management company with excellent tenant relationships, this quadruplex offers a hassle-free investment opportunity. Don't miss out on the chance to enrich your portfolio with these thriving quadruplex properties!

26. 2023-10-01
    historical $1,120
27. 2023-09-29
    listed $1,120
28. 2023-09-28
    historical $1,120
29. 2023-09-22
    historical $1,120
30. 2023-09-09
    listed $1,120
31. 2023-09-07
    listed $1,120
32. 2023-07-28
    soldstatus Closed
33. 2023-07-28
    soldstatus $1,600,000
34. 2023-07-07
    status Pending
35. 2023-06-22
    historical Active Option Contract
36. 2023-06-15
    listed $425,000 Active
37. 2021-03-23
    soldstatus
38. 2019-04-04
    soldstatus
39. 2018-08-01
    soldstatus
40. 2018-03-12
    soldstatus
41. 2018-03-09
    soldstatus Sold
42. 2018-02-14
    price $1,500,000
43. 2018-02-14
    price $1,750,000
44. 2018-02-13
    listed $1,500,000 Active
45. 2008-08-25
    soldstatus
46. 2008-08-11
    historical
47. 2008-06-29
    listed $54,900
48. 2000-01-04
    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: $9,384 · $782/mo
• Projected year-2 tax: $9,384 · $782/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 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥110°F today · 23 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 26% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $60,864
• − Mortgage interest: −$25,207
• − Property taxes: −$9,384
• − Insurance: −$2,250
• − Repairs & maintenance: −$4,869
• − Management: −$4,869
• − Depreciation: −$13,091
• Taxable income: $1,194
• Est. tax owed @ 24.0%: −$287
• After-tax cash flow: $7,844/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): 52,974
• Household income: $51,267
• Rent vs Own: 45.3% rent · 54.7% own
• Severe rent burden: 2221.0

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 0.60)
• Race & ethnicity: Hispanic / Latino 51% Black 36% Two or more races 26% White 8% Asian 3%
• Hispanic origin (detail): Mexican 44%
• Foreign-born: 25% · Canada, Philippines
• Languages at home: 54% English-only · Spanish 42% Other Indo-European 2% Other Asian/Pacific 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: ▼ -23.04%
• Current HPI: 336.7941
• Rent YoY: ▼ -1.61%
• 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

+719.7% since first listed

34 events — show timeline

• 2026-05-13 Price Changed $449,999 NTREIS
• 2025-09-20 Listed $455,000 NTREIS
• 2024-04-22 Sold (Public Records) — Public Records
• 2024-04-18 Sold (MLS) — NTREIS
• 2024-04-01 Pending — NTREIS
• 2024-03-11 Price Changed $487,000 NTREIS
• 2024-03-07 Price Changed $492,000 NTREIS
• 2024-02-21 Price Changed $495,000 NTREIS
• 2024-02-04 Relisted — NTREIS
• 2024-01-28 Contingent — NTREIS
• 2024-01-16 Listed $525,000 NTREIS
• 2023-10-01 Rental Removed $1,120 APPFOLIO
• 2023-09-29 Listed for Rent $1,120 APPFOLIO
• 2023-09-28 Rental Removed $1,120 RENT.
• 2023-09-22 Rental Removed $1,120 APPFOLIO
• 2023-09-09 Listed for Rent $1,120 APPFOLIO
• 2023-09-07 Listed for Rent $1,120 RENT.
• 2023-07-28 Sold (Public Records) $1,600,000 Public Records
• 2023-07-28 Sold (MLS) — NTREIS
• 2023-07-07 Pending — NTREIS
• 2023-06-22 Contingent — NTREIS
• 2023-06-15 Listed $425,000 NTREIS
• 2021-03-23 Sold (Public Records) — Public Records
• 2019-04-04 Sold (Public Records) — Public Records
• 2018-08-01 Sold (Public Records) — Public Records
• 2018-03-12 Sold (Public Records) — Public Records
• 2018-03-09 Sold (MLS) — NTREIS
• 2018-02-14 Price Changed $1,500,000 NTREIS
• 2018-02-14 Price Changed $1,750,000 NTREIS
• 2018-02-13 Listed $1,500,000 NTREIS
• 2008-08-25 Sold (MLS) — NTREIS
• 2008-08-11 Listing Removed — NTREIS
• 2008-06-29 Listed $54,900 NTREIS
• 2000-01-04 Sold (Public Records) — Public Records

Property tax history

+7.5%/yr

Latest (2025): $9,384 · -2.4% YoY. Source: county tax records.