604 Windgate Ct · Arlington, TX 76012

$220,000

4 bd · 4.0 ba · 2,182 sqft · MultiFamily public records · 95 Days on market

Built 1983 9,148 sqft lot $101/sqft · 58% below area Est $259k · 15% under

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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).

• ARV discount +14.3/15.0
• Cash flow +13.4/30.0
• 1% rule +4.7/10.0
• DSCR +4.0/10.0
• Livability +3.9/5.0
• Rent growth +3.5/5.0
• 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: 1 unit. estimate disagrees with records

Listing remarks MLS

Tucked away on a quiet cul-de-sac, this Arlington townhome offers a functional layout with spacious living and dining areas. Conveniently located near major highways, shopping, and dining. Refrigerator and stove included. Currently occupied—great opportunity for investors or buyers planning ahead.

Key facts

• Quiet cul-de-sac
• Near shopping
• Near major highways

Tags

• QUIET CUL-DE-SAC
• FUNCTIONAL LAYOUT
• SPACIOUS LIVING
• SPACIOUS DINING
• NEAR MAJOR HIGHWAYS
• NEAR SHOPPING

What this means for you Summary

Snapshot

• This is a 4-bed/4.0-bath multifamily listed at $220k.

Deal economics

• At list price, monthly cash flow is $3 ($30/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 $214k (2.9% below list).
• Recommended offer: $200k (9.0% below list) — sets the bar for market timing.
• Cap rate 6.3% vs local median 3.6% in Arlington — 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 78/100 on livability (#75 in TX, #2,697 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, housing A+; Watch: crime F, commute F.
• Arlington ISD (urban): math 24% / reading 34% proficiency, ranked #629 of 826 in TX (top 76%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Pope El (math 13% / reading 18%, grade F, #3,990 of 4,322 statewide, top 93%, 524 students, 81% FRL); Shackelford J H (math 23% / reading 44%, grade F, #911 of 1,662 statewide, top 56%, 640 students, 73% FRL); Lamar H S (math 23% / reading 38%, grade F, #1,085 of 1,632 statewide, top 67%, 2,546 students, 76% FRL) — zoned schools average 77% FRL vs 60% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+4.0%/yr); 145 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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).

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 95 days — a 9% lower offer ($200k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 12y 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→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $200,200 (9.0% below list)

Questions for the listing agent

1. It's been on market 95 days. Have you received any prior offers? Is the seller open to a 9% 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. 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?
7. 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.
8. 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.
9. 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: 0.97% ✗
• Cap rate: 6.31%
• Cash-on-cash: 0.05%
• DSCR: 1.00
• GRM: 8.6

CMA / ARV

• ARV (median comp): $258,905
• List price: $220,000
• Delta: -15.03%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
505 Claire Ct	0.18mi	4/2.0	1,870 (-14%)	12mo	$380,000	$203	50
2205 Viewtop Ln	0.60mi	5/3.0 (+1)	1,992 (-9%)	3mo	$320,000	$161	46
2017 Oakwood Ct	0.73mi	5/2.5 (+1)	2,162 (-1%)	9mo	$384,000	$178	46
2025 Oakwood Ct	0.70mi	4/2.0	1,960 (-10%)	17mo	$350,000	$179	28

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 · 3.98% rent growth · sell at horizon

5-year hold

• IRR: -14.9%
• Equity multiple: 0.46×
• Total profit: $-33,228
• Equity at exit: $32,803

10-year hold

• IRR: -4.5%
• Equity multiple: 0.69×
• Total profit: $-19,280
• Equity at exit: $19,022

Cash invested: $61,600 (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 76012

• Rents YoY: 4.0%
• Active inventory: 145
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $2,137 high
• Mortgage (P&I): −$1,154
• Tax from tax record: −$440 /mo · $5,282/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$449
• Net cashflow: $3

Break-even live

Break-even rent $2,134

Max offer price $220,000

Occupancy floor 95%

Sensitivity live

Price	-10% $127	-5% $65	+0% $3	+5% $-60	+10% $-122
Rent	-10% $-166	-5% $-82	+0% $3	+5% $87	+10% $171
Rate	-1.0pp $113	-0.5pp $58	base $3	+0.5pp $-54	+1.0pp $-112

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: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
705 White Oak Ln Arlington, TX	3.0	2.0	1821	$1,995	$1.10	45d	1	0.32mi
2409 Springmont Ct Unit 2409 Arlington, TX	3.0	2.0	1916	$1,800	$0.94	45d	1	0.34mi
2409 Springmont Ct Arlington, TX	3.0	1.0	1916	$1,875	$0.98	45d	1	0.34mi
502 Bellevue Ln Arlington, TX	3.0	2.5	1764	$2,000	$1.13	22d	1	0.36mi
637 N Bowen Rd Arlington, TX	3.0	2.0	1825	$2,800	$1.53	45d	1	0.38mi
2326 Kingsway Dr Arlington, TX	3.0	2.5	1586	$1,900	$1.20	45d	1	0.42mi
603 Pine Meadow Ct Arlington, TX	3.0	2.0	1996	$2,350	$1.18	26d	1	0.50mi
616 Placid Cir Arlington, TX	3.0	2.0	1681	$2,800	$1.67	26d	1	0.60mi
2806 Buffalo Dr Arlington, TX	3.0	2.0	1852	$2,150	$1.16	45d	1	0.65mi
514 Norwood Cir W Arlington, TX	3.0	2.5	2604	$1,850	$0.71	26d	1	0.75mi
2319 St Gregory St Arlington, TX	3.0	2.5	1470	$1,740	$1.18	0d	1	0.87mi
2414 S Graham Dr Arlington, TX	3.0	2.5	1906	$2,150	$1.13	9d	1	0.95mi
3002 Friendswood Dr Arlington, TX	4.0	3.0	1900	$2,295	$1.21	26d	1	0.98mi
907 S Bowen Rd Arlington, TX	3.0	2.0	1404	$2,050	$1.46	45d	1	1.05mi
424 Westview Ter Arlington, TX	3.0	2.5	1728	$2,150	$1.24	13d	1	1.15mi
426 Westview Ter Arlington, TX	3.0	2.5	1872	$2,100	$1.12	4d	1	1.15mi
376 Westview Ter Arlington, TX	3.0	2.5	1518	$2,000	$1.32	45d	1	1.24mi
1835 Woodchase Dr Fort Worth, TX	3.0	2.0	1707	$2,145	$1.26	23d	1	1.25mi
719 Matthews Ct Arlington, TX	3.0	2.0	1490	$2,200	$1.48	3d	1	1.28mi
1612 Cindy Ct Arlington, TX	3.0	2.0	1726	$2,420	$1.40	9d	1	1.38mi
1403 Palmnold Cir E Fort Worth, TX	3.0	2.5	1647	$1,750	$1.06	0d	1	1.41mi
1605 Arrowhead Dr Pantego, TX	4.0	2.0	1969	$2,125	$1.08	26d	1	1.49mi

Listing history 37 events

1. 2026-06-21
   days on market $220,000 Active 95 DOM
2. 2026-06-18
   days on market $220,000 Active 92 DOM
3. 2026-06-17
   statusdays on market $220,000 Active 91 DOM
4. 2026-06-16
   days on market $220,000 Active Option Contract 90 DOM
5. 2026-06-15
   days on market $220,000 Active Option Contract 89 DOM
6. 2026-06-13
   days on market $220,000 Active Option Contract 87 DOM
7. 2026-06-09
   days on market $220,000 Active Option Contract 83 DOM
8. 2026-06-08
   days on market $220,000 Active Option Contract 82 DOM
9. 2026-06-07
   statusdays on market $220,000 Active Option Contract 81 DOM
10. 2026-06-04
    days on market $220,000 Active 78 DOM
11. 2026-06-03
    days on market $220,000 Active 77 DOM
12. 2026-06-02
    days on market $220,000 Active 76 DOM
13. 2026-06-01
    days on market $220,000 Active 75 DOM
14. 2026-05-31
    days on market $220,000 Active 74 DOM
15. 2026-03-16
    listed $220,000 Active 307-char remark

    Show marketing remark (307 chars)

    Tucked away on a quiet cul-de-sac, this Arlington townhome offers a functional layout with spacious living and dining areas. Conveniently located near major highways, shopping, and dining. Refrigerator and stove included. Currently occupied—great opportunity for investors or buyers planning ahead.

16. 2025-10-07
    historical
17. 2025-06-18
    price $235,000
18. 2025-05-05
    price $250,000
19. 2025-04-08
    listed $496,000 Active
20. 2021-07-28
    soldstatus
21. 2018-11-14
    soldstatus Sold
22. 2018-11-14
    soldstatus
23. 2018-11-06
    status Pending
24. 2018-10-26
    historical Active Option Contract
25. 2018-10-10
    listed $279,900 Active
26. 2018-10-10
    historical
27. 2018-10-10
    listed $279,900
28. 2015-02-10
    soldstatus Sold
29. 2015-02-10
    soldstatus
30. 2014-12-12
    status Pending
31. 2014-12-07
    historical Active Option Contract
32. 2014-11-17
    price $165,000
33. 2014-11-17
    status Active
34. 2014-10-24
    status Pending
35. 2014-10-13
    historical Active Option Contract
36. 2014-10-09
    listed $155,000 Active
37. 1995-06-22
    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: $5,282 · $440/mo
• Projected year-2 tax: $5,282 · $440/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 8/10 Severe 7 d/yr ≥109°F today · 24 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 · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,641
• − Mortgage interest: −$12,323
• − Property taxes: −$5,282
• − Insurance: −$1,100
• − Repairs & maintenance: −$2,051
• − Management: −$2,051
• − Depreciation: −$6,400
• Taxable loss: −$3,567
• Est. tax savings @ 24.0%: +$856
• After-tax cash flow: $886/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: Arlington ISD
• NCES district ID: 4808700
• Math proficiency: 24% ▼ -21.00%
• Reading proficiency: 34% ▼ -8.00%
• Median HH income: $50,873
• Composite: 25.42/100
• National rank: #7458
• State rank: #629 of 826 in TX

Livability — Arlington

• Score: 78/100
• State rank: #75
• US rank: #2697

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Arlington, TX
• County: Tarrant County · 2,033,669 people
• City population: 366,588
• Metro: Dallas-Fort Worth-Arlington, TX
• Population (ZIP): 27,991
• Household income: $88,141
• Rent vs Own: 33.0% rent · 67.0% own
• Severe rent burden: 1121.0

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 46% Hispanic / Latino 34% Two or more races 20% Black 15% Asian 2%
• Hispanic origin (detail): Mexican 25% Cuban 3%
• Common ancestry: Slovak 2% Italian 2% Lithuanian 1%
• Foreign-born: 20% · Canada, Jamaica
• Languages at home: 68% English-only · Spanish 27% French/Haitian/Cajun 2% Arabic 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: ▼ -281.05%
• Current HPI: 259.0255
• Rent YoY: ▲ 3.98%
• 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

+41.9% since first listed

23 events — show timeline

• 2026-03-16 Listed $220,000 NTREIS
• 2025-10-07 Listing Removed — NTREIS
• 2025-06-18 Price Changed $235,000 NTREIS
• 2025-05-05 Price Changed $250,000 NTREIS
• 2025-04-08 Listed $496,000 NTREIS
• 2021-07-28 Sold (Public Records) — Public Records
• 2018-11-14 Sold (Public Records) — Public Records
• 2018-11-14 Sold (MLS) — NTREIS
• 2018-11-06 Pending — NTREIS
• 2018-10-26 Contingent — NTREIS
• 2018-10-10 Listed $279,900 NTREIS
• 2018-10-10 Listing Removed — NTREIS
• 2018-10-10 Listed $279,900 NTREIS
• 2015-02-10 Sold (Public Records) — Public Records
• 2015-02-10 Sold (MLS) — NTREIS
• 2014-12-12 Pending — NTREIS
• 2014-12-07 Contingent — NTREIS
• 2014-11-17 Relisted — NTREIS
• 2014-11-17 Price Changed $165,000 NTREIS
• 2014-10-24 Pending — NTREIS
• 2014-10-13 Contingent — NTREIS
• 2014-10-09 Listed $155,000 NTREIS
• 1995-06-22 Sold (Public Records) — Public Records

Property tax history

+4.1%/yr

Latest (2025): $5,282 · -16.7% YoY. Source: county tax records.