1228 Calamian Dr · Fort Worth, TX 76134

$253,199

3 bd · 2.0 ba · 1,474 sqft · Other · 7 Days on market

Built 2025 Poor condition 5,489 sqft lot $42/mo HOA · 2% of rent ↓ 3% since listing

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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).

• Cash flow +14.2/30.0
• ARV discount +7.5/15.0
• DSCR +4.3/10.0
• Livability +4.0/5.0
• Rent growth +3.1/5.0
• 1% rule +3.0/10.0
• Schools +2.5/10.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks

This single-level home showcases a spacious open floorplan shared between the kitchen, dining area and family room for easy entertaining. An owner’s suite enjoys a private location in a rear corner of the home, complemented by an en-suite bathroom and walk-in closet. There are three secondary bedrooms at the front of the home, which are comfortable spaces for household members and overnight guests.

Key facts

• Walk-in closet
• Open floorplan
• Secondary bedrooms

Tags

• OPEN FLOORPLAN
• OWNER'S SUITE
• EN-SUITE BATHROOM
• WALK-IN CLOSET
• SECONDARY BEDROOMS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $253k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $40 ($476/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 $203k (19.7% below list).
• Recommended offer: $203k (19.7% below list) — sets the bar for 1% rule.
• Cap rate 6.5% 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: crime 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: David L Walker Elt (math 12% / reading 22%, grade F, #3,836 of 4,322 statewide, top 91%, 417 students, 87% FRL); H F Stevens Middle (math 16% / reading 26%, grade F, #1,387 of 1,662 statewide, top 85%, 747 students, 84% FRL); Crowley H S (math 23% / reading 36%, grade F, #1,112 of 1,632 statewide, top 70%, 2,351 students, 72% FRL) — zoned schools average 81% FRL vs 52% district-wide (29 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.3%/yr); 123 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals at typical pace (median 27d on market — plan ~3-4 weeks tenant-placement turnaround); 18,938 units permitted in Tarrant County in 2024 (8,336 in 5+ unit buildings).
• This rent runs 34% of the median local income ($71k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• 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.
• Tarrant County population projected at +41% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $203,355 (19.7% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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 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: 0.80% ✗
• Cap rate: 6.48%
• Cash-on-cash: 0.67%
• DSCR: 1.03
• GRM: 10.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.3% rent growth · sell at horizon

5-year hold

• IRR: -16.0%
• Equity multiple: 0.44×
• Total profit: $-40,009
• Equity at exit: $37,753

10-year hold

• IRR: -8.8%
• Equity multiple: 0.47×
• Total profit: $-37,677
• Equity at exit: $21,892

Cash invested: $70,896 (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 76134

• Home prices YoY: -6.9%
• Rents YoY: 2.3%
• Active inventory: 123
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $2,034 high
• Mortgage (P&I): −$1,328
• Tax from tax record: −$92 /mo · $1,099/yr
• Insurance: −$105
• HOA: −$42
• Vacancy / Maint / Mgmt: −$427
• Net cashflow: $40

Break-even live

Break-even rent $1,983

Max offer price $253,199

Occupancy floor 93%

Sensitivity live

Price	-10% $183	-5% $111	+0% $40	+5% $-32	+10% $-104
Rent	-10% $-121	-5% $-41	+0% $40	+5% $120	+10% $200
Rate	-1.0pp $167	-0.5pp $104	base $40	+0.5pp $-26	+1.0pp $-93

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: $63,300
• Closing costs: $7,596
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
605 Hidden Dale Dr Fort Worth, TX	3.0	2.0	1161	$1,875	$1.61	45d	1	0.44mi
517 Misty Mountain Dr Fort Worth, TX	3.0	2.0	1342	$2,050	$1.53	0d	1	0.53mi
10009 Quail Glen Dr Fort Worth, TX	3.0	2.0	1130	$1,795	$1.59	45d	1	0.63mi
10600 Bilsky Bay Dr Fort Worth, TX	1.0–3.0	1.0–2.0	914	$1,765	$1.93	26d	24	0.93mi
10600 Bilsky Bay Dr Fort Worth, TX	1.0–2.0	1.0–2.0	762	$1,409	$1.85	0d	13	0.93mi
220 Elk Run Dr Fort Worth, TX	3.0	2.0	1781	$1,965	$1.10	17d	1	0.94mi
10905 Fawn Valley Dr Fort Worth, TX	3.0	2.0	1796	$1,885	$1.05	7d	1	1.05mi
9100 Cranwell Ct Fort Worth, TX	3.0	2.5	1748	$1,950	$1.12	26d	1	1.13mi
10516 Park City Trl Fort Worth, TX	3.0	2.0	1528	$1,799	$1.18	1d	1	1.16mi
205 Crescent Ridge Dr Fort Worth, TX	3.0	2.5	1866	$2,010	$1.08	4d	1	1.19mi
212 Crescent Ridge Dr Fort Worth, TX	4.0	2.0	1545	$2,130	$1.38	45d	1	1.21mi
720 Watson Way Crowley, TX	3.0	2.0	1782	$2,095	$1.18	45d	1	1.25mi
1804 Lincolnshire Way Fort Worth, TX	3.0	2.5	1496	$1,850	$1.24	7d	1	1.26mi
744 Walls Blvd Crowley, TX	4.0	2.0	1792	$2,300	$1.28	45d	1	1.29mi
10512 Flagstaff Run Fort Worth, TX	4.0	2.0	1500	$1,865	$1.24	1d	1	1.31mi
10512 Flagstaff Run Fort Worth, TX	4.0	2.0	1500	$1,865	$1.24	9d	1	1.31mi
9004 Willoughby Ct Fort Worth, TX	3.0	2.0	1430	$2,015	$1.41	0d	1	1.32mi
10540 Flagstaff Run Fort Worth, TX	3.0	2.5	1808	$1,950	$1.08	14d	1	1.33mi
10540 Flagstaff Run Fort Worth, TX	3.0	2.5	1808	$1,975	$1.09	26d	1	1.33mi
752 Rutherford Dr Crowley, TX	4.0	2.0	1856	$2,209	$1.19	45d	1	1.34mi
1812 Hunting Green Dr Fort Worth, TX	3.0	2.0	1402	$1,985	$1.42	45d	1	1.38mi
1253 Rosedale Springs Ln Fort Worth, TX	4.0	2.0	1757	$2,000	$1.14	14d	1	1.39mi
708 Cheryl St Crowley, TX	3.0	2.0	1659	$2,100	$1.27	20d	1	1.44mi
8457 Asheville Ln Fort Worth, TX	4.0	2.0	1796	$2,049	$1.14	45d	1	1.45mi
625 Hutchins Dr Crowley, TX	3.0	2.0	1357	$1,885	$1.39	45d	1	1.49mi
705 Loftin St Crowley, TX	3.0	2.0	1514	$2,200	$1.45	45d	1	1.50mi

HOA detail

• Monthly dues: $42 · $504/yr

Listing history 3 events

1. 2026-02-27
   status Pending
2. 2026-02-25
   price $253,199
3. 2026-02-20
   listed $260,199 Active

ⓘ 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: $1,099 · $92/mo
• Projected year-2 tax: $4,634 · $386/mo
• Expected delta: +$3,535/yr (+$295/mo · 321.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $24,403
• − Mortgage interest: −$14,183
• − Property taxes: −$1,099
• − Insurance: −$1,266
• − Repairs & maintenance: −$1,952
• − Management: −$1,952
• − HOA: −$504
• − Depreciation: −$7,366
• Taxable loss: −$3,920
• Est. tax savings @ 24.0%: +$941
• After-tax cash flow: $1,416/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.

Condition & rehab AI · 2 photos

Poor 20/100 Extensive rehab

This home requires extensive repairs and replacements to its exterior, roof, flooring, interior walls, and systems. Significant water damage and rot are visible on the exterior siding, indicating a major issue that needs immediate attention.

Repairs flagged

• Major exterior siding — Significant water damage and rot
• Major roof — No visible roof damage, but the condition of the roof cannot be determined from the satellite image
• Major flooring — No visible flooring, but the condition of the flooring cannot be determined from the satellite image
• Major interior walls/paint — No visible interior walls or paint, but the condition of the interior cannot be determined from the satellite image
• Major systems — No visible systems, but the condition of the systems cannot be determined from the satellite image

Value-add opportunities

• Both repair and replace exterior siding — Significant water damage and rot
• Both repair and replace roof — No visible roof damage, but the condition of the roof cannot be determined from the satellite image
• Both repair and replace flooring — No visible flooring, but the condition of the flooring cannot be determined from the satellite image
• Both repair and paint interior walls — No visible interior walls or paint, but the condition of the interior cannot be determined from the satellite image
• Both repair and replace systems — No visible systems, but the condition of the systems cannot be determined from the satellite image

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Significant water damage and rot	Major	$15,000–50,000
roof · No visible roof damage, but the condition of the roof cannot be determined from the satellite image	Major	$15,000–50,000
flooring · No visible flooring, but the condition of the flooring cannot be determined from the satellite image	Major	$15,000–50,000
interior walls/paint · No visible interior walls or paint, but the condition of the interior cannot be determined from the satellite image	Major	$15,000–50,000
systems · No visible systems, but the condition of the systems cannot be determined from the satellite image	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Both repair and replace exterior siding — Significant water damage and rot ↑
• Both repair and replace roof — No visible roof damage, but the condition of the roof cannot be determined from the satellite image ↑
• Both repair and replace flooring — No visible flooring, but the condition of the flooring cannot be determined from the satellite image ↑
• Both repair and paint interior walls — No visible interior walls or paint, but the condition of the interior cannot be determined from the satellite image ↑
• Both repair and replace systems — No visible systems, but the condition of the systems cannot be determined from the satellite image ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — 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): 29,949
• Household income: $70,945
• Rent vs Own: 40.2% rent · 59.8% own
• Severe rent burden: 1539.0

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 0.68)
• Race & ethnicity: Hispanic / Latino 43% Black 31% Two or more races 21% White 19% Asian 4%
• Hispanic origin (detail): Mexican 38% Puerto Rican 1% Cuban 2%
• Common ancestry: Lithuanian 2% Italian 2% Portuguese 1%
• Foreign-born: 20% · Canada, Vietnam, Philippines
• Languages at home: 62% English-only · Spanish 31% Vietnamese 3% French/Haitian/Cajun 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: ▼ -23.91%
• Current HPI: 323.2306
• Rent YoY: ▲ 2.30%
• 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

-2.7% since first listed

3 events — show timeline

• 2026-02-27 Pending — NTREIS
• 2026-02-25 Price Changed $253,199 NTREIS
• 2026-02-20 Listed $260,199 NTREIS