7137 Meandering Creek Ln

Fort Worth, TX 76179

$264,499D

3 bd · 2.5 ba · 1,474 sqft · Built 2025 · Other · Pending · 15 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,142/mo
• Mortgage (P&I): −$1,387
• Tax + insurance: −$201
• HOA: −$58
• Vac / Maint / Mgmt: −$450
• Net cashflow: $45/mo
• Annual: $545/yr
• Cap rate: 6.50%
• Cash-on-cash: 0.74%
• DSCR: 1.03
• 1% rule: 0.81%
• Cash to close: $74,060

Investor read

• This is a 3-bed/2.5-bath other listed at $264k. Condition is rated poor.
• At list price, monthly cash flow is $45 ($545/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 (19.0% below list).
• It's been on market 15 days — a 2% lower offer ($261k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $214k (19.0% below list) — sets the bar for 1% rule.
• 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.
• Eagle Mt-Saginaw ISD (urban): math 35% / reading 42% proficiency, ranked #361 of 826 in TX (top 44%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Bryson El (math 23% / reading 27%, grade F, #3,013 of 4,322 statewide, top 70%, 547 students, 63% FRL); Creekview Middle (math 52% / reading 55%, grade C+, #275 of 1,662 statewide, top 17%, 844 students, 50% FRL); Boswell H S (math 49% / reading 62%, grade C, #364 of 1,632 statewide, top 23%, 2,547 students, 37% FRL).
• Market conditions: Rents rising (+1.5%/yr); 1074 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 9d on market — plan ~1-2 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.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 6→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• 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.

Questions for listing agent

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• 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?
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Major: roof — Significant damage and potential leaks.
• Major: siding — Peeling and discoloration.
• Major: landscaping — Sparse vegetation and minimal curb appeal.
• Major: fencing — Not visible, but likely in poor condition.
• Major: interior walls and paint — Not visible, but the exterior suggests extensive work is needed.
• Major: kitchen and bathrooms — Not visible, but the exterior suggests extensive work is needed.