2928 Hiawatha Trl · Lake Worth, TX 76135

$139,000

3 bd · 1.0 ba · 1,168 sqft · SingleFamily public records · 52 Days on market

Built 1946 8,743 sqft lot $119/sqft · 30% below area Est $199k · 30% under

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Why this score? — see what drove the B- 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 +25.3/30.0
• ARV discount +15.0/15.0
• DSCR +8.3/10.0
• 1% rule +7.9/10.0
• Livability +3.6/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This home is completely remodeled in 06' with new carpet, paint inside and out, new counter tops, fixtures. Electrical and plumbing up to code. Too many adds to list here! Show your pickiest buyers this one.

Key facts

• Investment property
• Access to hwy 820
• No hoa

Tags

• INVESTMENT PROPERTY
• ACCESS TO HWY 820
• NO HOA

Property features AI

Finance

• Other: Possession at closing/funding; Property listing status: Active; Listing source: Matrix
• Financial info: Listing terms: Cash; Listing agreement: Exclusive right to sell; Second mortgage: None / No
• HOA & community: No homeowners association

Exterior

• Parking: Attached garage (1 covered space, 1 garage space)
• Utilities: City water; City sewer; No municipal utility district
• Home design: Single-family residence; Residential property; One story; Not attached to other properties; Built in 1946
• Construction: Year built: 1946
• Exterior features: Lot under 0.5 acre (approximately 0.20 acres); Subdivision: Indian Oaks; Directions: From TX-199 (Jacksboro Hwy), turn north onto Hiawatha Trail, continue about 0.3 miles into the neighborhood; property will be on the right

Interior

• Kitchen: Dishwasher; Microwave
• Bedrooms: 3 bedrooms (primary bedroom on main level)
• Bathrooms: 1 full bathroom
• Interior features: One-level layout; Walk-in closet(s); Other interior features; Open living area (1 living area); Total room count: 4

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $139k.

Deal economics

• At list price, monthly cash flow is $314 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $139k).
• Recommended offer: $135k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.0% vs local median 5.3% in Lake 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 72/100 on livability (#269 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, commute F.
• Lake Worth ISD (suburban): math 12% / reading 22% proficiency, ranked #801 of 826 in TX (top 97%) — 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.
• Zoned schools: Effie Morris Early Learning Academy (440 students, 93% FRL); Lucyle Collins Middle (math 13% / reading 21%, grade F, #1,520 of 1,662 statewide, top 92%, 793 students, 92% FRL); Lake Worth H S (math 13% / reading 31%, grade F, #1,366 of 1,632 statewide, top 84%, 996 students, 85% FRL) — zoned schools average 90% FRL vs 73% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 160 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 64% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $961 of loan paydown is wiped out by about $4k 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 52 days — a 3% lower offer ($135k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 19y ago; this cycle's ask has dropped $11k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $96k; 45% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1946 — 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 $134,830 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1946 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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?
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: 1.29% ✓
• Cap rate: 9.01%
• Cash-on-cash: 9.69%
• DSCR: 1.43
• GRM: 6.4

CMA / ARV

• ARV (median comp): $198,690
• List price: $139,000
• Delta: -30.04%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3116 Chippewa Trl	0.18mi	2/1.0 (-1)	1,176 (+1%)	13mo	$150,000	$128	74
3132 Huron Trl	0.28mi	3/1.0	1,094 (-6%)	17mo	$219,900	$201	62
3208 Huron Trl	0.32mi	3/1.0	1,242 (+6%)	16mo	$190,000	$153	61
7213 Pawnee Trl	0.42mi	3/1.0	1,027 (-12%)	3mo	$116,000	$113	58
3345 Pueblo Trl	0.50mi	3/1.0	1,199 (+3%)	18mo	$199,999	$167	57
7521 Pawnee	0.19mi	2/2.0 (-1)	1,025 (-12%)	7mo	$139,900	$136	56
3304 Chippewa Trl	0.35mi	2/1.0 (-1)	1,274 (+9%)	11mo	$259,000	$203	54
2909 Huron Trl	0.14mi	2/1.0 (-1)	992 (-15%)	14mo	$85,000	$86	52
3600 Mohawk Trl	0.68mi	3/1.5	1,169 (+0%)	22mo	$240,000	$205	48
3205 Caddo Trl	0.56mi	3/2.0	1,304 (+12%)	3mo	$295,000	$226	48

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 · 0.48% rent growth · sell at horizon

5-year hold

• IRR: -4.8%
• Equity multiple: 0.82×
• Total profit: $-6,824
• Equity at exit: $20,725

10-year hold

• IRR: 1.2%
• Equity multiple: 1.08×
• Total profit: $2,983
• Equity at exit: $12,018

Cash invested: $38,920 (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 76135

• Home prices YoY: -17.3%
• Rents YoY: 0.5%
• Active inventory: 160
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,796 high
• Mortgage (P&I): −$729
• Tax from tax record: −$318 /mo · $3,812/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$377
• Net cashflow: $314

Break-even live

Break-even rent $1,398

Max offer price $139,000

Occupancy floor 77%

Sensitivity live

Price	-10% $393	-5% $354	+0% $314	+5% $275	+10% $236
Rent	-10% $173	-5% $243	+0% $314	+5% $385	+10% $456
Rate	-1.0pp $384	-0.5pp $350	base $314	+0.5pp $278	+1.0pp $242

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: $34,750
• Closing costs: $4,170
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7521 Pawnee Trl Lake Worth, TX	2.0	2.0	972	$1,600	$1.65	5d	1	0.22mi
3217 Huron Trl Fort Worth, TX	3.0	2.0	1108	$1,850	$1.67	45d	1	0.36mi
7300 Comanche Trl Unit 4 Lake Worth, TX	2.0	1.0	865	$1,275	$1.47	45d	1	0.67mi
3901 Dakota Trl Fort Worth, TX	3.0	2.0	1481	$1,990	$1.34	1d	1	1.03mi
3901 Dakota Trl Fort Worth, TX	3.0	2.0	1481	$1,990	$1.34	45d	1	1.03mi
4009 Shawnee Trl Fort Worth, TX	3.0	2.0	1496	$1,801	$1.20	45d	1	1.03mi
4009 Caddo Trl Fort Worth, TX	3.0	1.0	1237	$1,850	$1.50	45d	1	1.06mi
4025 Caddo Trl Fort Worth, TX	3.0	2.0	1382	$1,750	$1.27	45d	1	1.11mi
7104 Foster Dr Fort Worth, TX	4.0	2.0	1476	$1,925	$1.30	9d	1	1.16mi
6655 Calgary Ln Fort Worth, TX	1.0–3.0	1.0–2.0	949	$1,359	$1.43	45d	1	1.19mi
6555 Shady Oaks Manor Dr Fort Worth, TX	1.0–2.0	1.0–2.0	689	$1,401	$2.03	5d	18	1.42mi

Listing history 29 events

1. 2026-06-21
   days on market $139,000 Active 52 DOM
2. 2026-06-18
   days on market $139,000 Active 49 DOM
3. 2026-06-17
   days on market $139,000 Active 48 DOM
4. 2026-06-16
   days on market $139,000 Active 47 DOM
5. 2026-06-15
   days on market $139,000 Active 46 DOM
6. 2026-06-13
   days on market $139,000 Active 44 DOM
7. 2026-06-13
   pricedays on market $139,000 Active 43 DOM
8. 2026-06-09
   days on market $145,000 Active 40 DOM
9. 2026-06-08
   days on market $145,000 Active 39 DOM
10. 2026-06-07
    days on market $145,000 Active 38 DOM
11. 2026-06-04
    days on market $145,000 Active 35 DOM
12. 2026-06-03
    days on market $145,000 Active 34 DOM
13. 2026-06-02
    days on market $145,000 Active 33 DOM
14. 2026-06-01
    days on market $145,000 Active 32 DOM
15. 2026-05-31
    days on market $145,000 Active 31 DOM
16. 2026-05-11
    price $145,000 713-char remark
17. 2026-04-30
    listed $150,000 Active 713-char remark
18. 2022-01-15
    price $1,350
19. 2016-01-19
    soldstatus
20. 2008-12-04
    soldstatus $95,906
21. 2007-06-15
    soldstatus 208-char remark

    Show marketing remark (208 chars)

    This home is completely remodeled in 06' with new carpet, paint inside and out, new counter tops, fixtures. Electrical and plumbing up to code. Too many adds to list here! Show your pickiest buyers this one.

22. 2007-06-02
    historical 208-char remark

    Show marketing remark (208 chars)

    This home is completely remodeled in 06' with new carpet, paint inside and out, new counter tops, fixtures. Electrical and plumbing up to code. Too many adds to list here! Show your pickiest buyers this one.

23. 2007-05-31
    listed $82,950 208-char remark

    Show marketing remark (208 chars)

    This home is completely remodeled in 06' with new carpet, paint inside and out, new counter tops, fixtures. Electrical and plumbing up to code. Too many adds to list here! Show your pickiest buyers this one.

24. 2004-11-15
    soldstatus
25. 2003-07-08
    soldstatus $56,500
26. 2003-07-08
    soldstatus $56,500
27. 2000-11-03
    soldstatus
28. 1996-08-05
    soldstatus
29. 1996-08-05
    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: $3,812 · $318/mo
• Projected year-2 tax: $3,812 · $318/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 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 23 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 24% 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: $21,554
• − Mortgage interest: −$7,786
• − Property taxes: −$3,812
• − Insurance: −$695
• − Repairs & maintenance: −$1,724
• − Management: −$1,724
• − Depreciation: −$4,044
• Taxable income: $1,768
• Est. tax owed @ 24.0%: −$424
• After-tax cash flow: $3,349/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: Lake Worth ISD
• NCES district ID: 4826490
• Math proficiency: 12% ▼ -13.00%
• Reading proficiency: 22% ▼ -5.00%
• Median HH income: $39,451
• Composite: 14.38/100
• National rank: #9436
• State rank: #801 of 826 in TX

Livability — Lake Worth

• Score: 72/100
• State rank: #269
• US rank: #6300

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lake Worth, TX
• County: Tarrant County · 2,033,669 people
• Metro: Dallas-Fort Worth-Arlington, TX
• Population (ZIP): 19,445
• Household income: $74,621
• Rent vs Own: 39.1% rent · 60.9% own
• Severe rent burden: 798.0

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: Majority White (63%)
• Race & ethnicity: White 63% Hispanic / Latino 26% Two or more races 11% Black 8%
• Hispanic origin (detail): Mexican 22%
• Common ancestry: Italian 2% Romanian 2% Russian 2%
• Foreign-born: 7% · Canada, Jamaica
• Languages at home: 80% English-only · Spanish 19% Russian/Polish/Slavic 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: ▼ -63.93%
• Current HPI: 305.0929
• Rent YoY: ▲ 0.48%
• 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

+146.0% since first listed

15 events — show timeline

• 2026-06-10 Price Changed $139,000 NTREIS
• 2026-05-11 Price Changed $145,000 NTREIS
• 2026-04-30 Listed $150,000 NTREIS
• 2022-01-15 Price Changed $1,350 RENT.
• 2016-01-19 Sold (Public Records) — Public Records
• 2008-12-04 Sold (Public Records) $95,906 Public Records
• 2007-06-15 Sold (MLS) — NTREIS
• 2007-06-02 Listing Removed — NTREIS
• 2007-05-31 Listed $82,950 NTREIS
• 2004-11-15 Sold (Public Records) — Public Records
• 2003-07-08 Sold (Public Records) $56,500 Public Records
• 2003-07-08 Sold (Public Records) $56,500 Public Records
• 2000-11-03 Sold (Public Records) — Public Records
• 1996-08-05 Sold (Public Records) — Public Records
• 1996-08-05 Sold (Public Records) — Public Records

Property tax history

+5.4%/yr

Latest (2025): $3,812 · -17.0% YoY. Source: county tax records.