2509 Irion Ave · Fort Worth, TX 76106

$225,000

2 bd · 1.0 ba · 1,508 sqft · SingleFamily public records · 134 Days on market

Built 1941 5,998 sqft lot $149/sqft · 19% below area Est $278k · 19% under ↓ 22% 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).

• ARV discount +15.0/15.0
• Cash flow +9.9/30.0
• Livability +4.0/5.0
• 1% rule +2.9/10.0
• DSCR +2.8/10.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This is a spacious, conveniently located home near schools, shopping, downtown FW and Fort Worth Stockyards. This home features 3 beds 2 baths, 2 laundry units, bonus rooms and a guest suite with kitchenette. Garage providing security and protection from the elements with room for 2 vehicles and direct access to home. The front of the home features an ornamental iron fence and covered porch, providing additional space for family gatherings and relaxation. This is a great home for a large or growing family. Property SOLD AS-IS. Seller offering concessions toward buyer closing costs, repairs or upgrades with acceptable offer. All information provided is deemed reliable but not guaranteed. Buyer and Buyer’s Agent to verify all information, including but not limited to square footage, schools, taxes, restrictions, and property condition. Listing Broker and Seller make no warranties, expressed or implied

Key facts

• Near schools
• Near downtown fw
• Near shopping

Tags

• NEAR SCHOOLS
• NEAR SHOPPING
• NEAR DOWNTOWN FW
• NEAR FORT WORTH STOCKYARDS
• 2 LAUNDRY UNITS
• BONUS ROOMS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $-141 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $200k (11.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $179k (20.5% below list).
• Recommended offer: $179k (20.5% below list) — sets the bar for 1% rule.
• Cap rate 5.5% 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: 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 (-1.0%/yr); 69 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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 39% of the median local income ($55k/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 $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 134 days — a 12% lower offer ($198k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $35k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1941 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $178,807 (20.5% below list)

Questions for the listing agent

1. 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?
2. It's been on market 134 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
3. Built in 1941 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.79% ✗
• Cap rate: 5.54%
• Cash-on-cash: -2.69%
• DSCR: 0.88
• GRM: 10.5

CMA / ARV

• ARV (median comp): $277,641
• List price: $225,000
• Delta: -18.96%
• 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
2511 Chester Ave	0.23mi	3/2.0 (+1)	1,483 (-2%)	3mo	$279,900	$189	75
2613 Hale Ave	0.27mi	3/2.0 (+1)	1,512 (+0%)	6mo	$119,900	$79	72
2117 W Lotus Ave	0.54mi	2/2.0	1,658 (+10%)	3mo	$300,000	$181	52
2132 Morning Glory Ave	0.63mi	2/1.0	1,332 (-12%)	22mo	$323,000	$242	33

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: -24.2%
• Equity multiple: 0.20×
• Total profit: $-50,656
• Equity at exit: $33,548

10-year hold

• IRR: -31.2%
• Equity multiple: -0.20×
• Total profit: $-75,822
• Equity at exit: $19,454

Cash invested: $63,000 (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 76106

• Home prices YoY: -6.9%
• Rents YoY: -1.0%
• Active inventory: 69
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $1,788 high
• Mortgage (P&I): −$1,180
• Tax from tax record: −$280 /mo · $3,359/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$375
• Net cashflow: $-141

Break-even live

Break-even rent $1,967

Max offer price $200,086

Occupancy floor —

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2903 Lulu St Fort Worth, TX	2.0	1.0	1360	$1,500	$1.10	43d	1	0.55mi
2021 Bluebonnet Dr Fort Worth, TX	3.0	2.0	1270	$1,849	$1.46	24d	1	0.63mi
2021 Bluebonnet Dr Fort Worth, TX	3.0	2.0	1270	$1,850	$1.46	3d	1	0.63mi
1852 E Northside Dr Fort Worth, TX	2.0	2.0	1083	$2,055	$1.90	18d	1	0.84mi
1852 E Northside Dr Unit 1885 Fort Worth, TX	3.0	2.0	1606	$2,297	$1.43	3d	1	0.87mi
1852 E Northside Dr Unit 1889 Fort Worth, TX	2.0	2.0	1169	$1,747	$1.49	3d	1	0.87mi
2517 Honeysuckle Ave Fort Worth, TX	2.0	2.0	1554	$2,195	$1.41	15d	1	1.10mi
601 Stockyards Blvd Fort Worth, TX	2.0	1.0–2.0	815	$2,814	$3.45	1d	62	1.12mi
3103 N Crump St Fort Worth, TX	3.0	1.0	1200	$1,525	$1.27	43d	1	1.13mi
3800 Oscar Ave Fort Worth, TX	3.0	2.0	1673	$1,905	$1.14	3d	1	1.33mi
999 Scenic Hill Dr Fort Worth, TX	2.0	1.0–2.5	1077	$2,896	$2.69	2d	19	1.49mi
1824 Carver Ave Fort Worth, TX	3.0	2.0	1300	$1,699	$1.31	24d	1	1.49mi

Listing history 21 events

1. 2026-06-18
   days on market $225,000 Active 134 DOM
2. 2026-06-17
   days on market $225,000 Active 133 DOM
3. 2026-06-16
   days on market $225,000 Active 132 DOM
4. 2026-06-15
   days on market $225,000 Active 131 DOM
5. 2026-06-13
   days on market $225,000 Active 129 DOM
6. 2026-06-09
   days on market $225,000 Active 125 DOM
7. 2026-06-08
   days on market $225,000 Active 124 DOM
8. 2026-06-07
   days on market $225,000 Active 123 DOM
9. 2026-06-04
   days on market $225,000 Active 120 DOM
10. 2026-06-03
    days on market $225,000 Active 119 DOM
11. 2026-06-02
    days on market $225,000 Active 118 DOM
12. 2026-06-02
    days on market $225,000 Active 117 DOM
13. 2026-05-31
    days on market $225,000 Active 116 DOM
14. 2026-04-23
    price $225,000 919-char remark

    Show marketing remark (919 chars)

    This is a spacious, conveniently located home near schools, shopping, downtown FW and Fort Worth Stockyards. This home features 3 beds 2 baths, 2 laundry units, bonus rooms and a guest suite with kitchenette. Garage providing security and protection from the elements with room for 2 vehicles and direct access to home. The front of the home features an ornamental iron fence and covered porch, providing additional space for family gatherings and relaxation. This is a great home for a large or growing family. Property SOLD AS-IS. Seller offering concessions toward buyer closing costs, repairs or upgrades with acceptable offer. All information provided is deemed reliable but not guaranteed. Buyer and Buyer’s Agent to verify all information, including but not limited to square footage, schools, taxes, restrictions, and property condition. Listing Broker and Seller make no warranties, expressed or implied

15. 2026-03-10
    price $230,000 919-char remark

    Show marketing remark (919 chars)

    This is a spacious, conveniently located home near schools, shopping, downtown FW and Fort Worth Stockyards. This home features 3 beds 2 baths, 2 laundry units, bonus rooms and a guest suite with kitchenette. Garage providing security and protection from the elements with room for 2 vehicles and direct access to home. The front of the home features an ornamental iron fence and covered porch, providing additional space for family gatherings and relaxation. This is a great home for a large or growing family. Property SOLD AS-IS. Seller offering concessions toward buyer closing costs, repairs or upgrades with acceptable offer. All information provided is deemed reliable but not guaranteed. Buyer and Buyer’s Agent to verify all information, including but not limited to square footage, schools, taxes, restrictions, and property condition. Listing Broker and Seller make no warranties, expressed or implied

16. 2026-02-03
    listed $260,000 Active 919-char remark

    Show marketing remark (919 chars)

    This is a spacious, conveniently located home near schools, shopping, downtown FW and Fort Worth Stockyards. This home features 3 beds 2 baths, 2 laundry units, bonus rooms and a guest suite with kitchenette. Garage providing security and protection from the elements with room for 2 vehicles and direct access to home. The front of the home features an ornamental iron fence and covered porch, providing additional space for family gatherings and relaxation. This is a great home for a large or growing family. Property SOLD AS-IS. Seller offering concessions toward buyer closing costs, repairs or upgrades with acceptable offer. All information provided is deemed reliable but not guaranteed. Buyer and Buyer’s Agent to verify all information, including but not limited to square footage, schools, taxes, restrictions, and property condition. Listing Broker and Seller make no warranties, expressed or implied

17. 2025-12-16
    historical
18. 2025-12-06
    price $269,000
19. 2025-11-06
    price $279,000
20. 2025-10-09
    listed $290,000 Active
21. 2014-02-10
    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: $3,359 · $280/mo
• Projected year-2 tax: $4,118 · $343/mo
• Expected delta: +$758/yr (+$63/mo · 22.6%)

ⓘ 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 · 23 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 20% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,457
• − Mortgage interest: −$12,603
• − Property taxes: −$3,359
• − Insurance: −$1,125
• − Repairs & maintenance: −$1,717
• − Management: −$1,717
• − Depreciation: −$6,545
• Taxable loss: −$5,609
• Est. tax savings @ 24.0%: +$1,346
• After-tax cash flow: $-346/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): 35,946
• Household income: $55,431
• Rent vs Own: 51.6% rent · 48.4% 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: Predominantly Hispanic (80%)
• Race & ethnicity: Hispanic / Latino 80% Two or more races 30% White 9% Black 9% Asian 1%
• Hispanic origin (detail): Mexican 71%
• Common ancestry: Ukrainian 1%
• Foreign-born: 33% · Canada
• Languages at home: 30% English-only · Spanish 66% Other Indo-European 1% 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: ▼ -24.42%
• Current HPI: 329.4589
• Rent YoY: ▼ -1.02%
• 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

-22.4% since first listed

8 events — show timeline

• 2026-04-23 Price Changed $225,000 NTREIS
• 2026-03-10 Price Changed $230,000 NTREIS
• 2026-02-03 Listed $260,000 NTREIS
• 2025-12-16 Listing Removed — NTREIS
• 2025-12-06 Price Changed $269,000 NTREIS
• 2025-11-06 Price Changed $279,000 NTREIS
• 2025-10-09 Listed $290,000 NTREIS
• 2014-02-10 Sold (Public Records) — Public Records

Property tax history

+5.7%/yr

Latest (2025): $3,359 · +7.3% YoY. Source: county tax records.