6036 Harrison Way · Watauga, TX 76148

$199,000

3 bd · 2.0 ba · 1,195 sqft · SingleFamily public records · 87 Days on market

Built 1973 7,100 sqft lot $167/sqft · 22% below area Est $254k · 22% under

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Why this score? — see what drove the C 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 +18.7/30.0
• ARV discount +15.0/15.0
• DSCR +5.9/10.0
• 1% rule +5.5/10.0
• Livability +3.8/5.0
• Schools +3.7/10.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Watauga investment opportunity with guaranteed Section 8 cash flow! Sold strictly AS-IS and subject to third-party approval. This tenant-occupied property is a premier addition to any rental portfolio, featuring a reliable Section 8 tenant on a month-to-month lease. Benefit from the security of government-backed rental payments in a well-established Watauga neighborhood known for high tenant demand and long-term stability. The home offers a functional layout with well-sized bedrooms and an attached garage. The living area flows into a kitchen with ample workspace, providing a solid foundation for future value-add improvements. This property is being sold in its current condition with no seller repairs. Due to tenant privacy, NO SHOWINGS are available until an acceptable offer is received. Secure this recession-resistant asset today!

Key facts

• Ample cabinetry
• Traditional exterior
• Natural light

Tags

• WATAUGA NEIGHBORHOOD
• TRADITIONAL EXTERIOR
• NATURAL LIGHT
• AMPLE CABINETRY
• BACKYARD

🏷️ Possibly a rental listed for sale. The $199,000 price doesn't fit this home's estimated sale value (~$254,249) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $199k.

Deal economics

• At list price, monthly cash flow is $198 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $199k).
• Recommended offer: $187k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.5% vs local median 4.6% in Watauga — 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 76/100 on livability (#105 in TX, #3,500 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Birdville ISD (suburban): math 42% / reading 43% proficiency, ranked #299 of 826 in TX (top 36%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+4.3%/yr); 130 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $1k of loan paydown is wiped out by about $6k 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 87 days — a 6% lower offer ($187k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $65k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• 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 $187,060 (6.0% below list)

Questions for the listing agent

1. It's been on market 87 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.05% ✓
• Cap rate: 7.49%
• Cash-on-cash: 4.26%
• DSCR: 1.19
• GRM: 7.9

CMA / ARV

• ARV (median comp): $254,249
• List price: $199,000
• Delta: -21.73%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6028 Herschel Dr	0.16mi	3/2.0	1,269 (+6%)	0mo	$250,000	$197	82
6716 Brookdale Dr	0.18mi	3/2.0	1,278 (+7%)	1mo	$280,000	$219	80
6925 Bennington Dr	0.33mi	3/2.0	1,240 (+4%)	0mo	$230,000	$185	78
6825 Wooddale Dr	0.21mi	3/2.0	1,288 (+8%)	0mo	$315,000	$245	77
5929 Robin Dr	0.43mi	3/2.0	1,292 (+8%)	1mo	$249,950	$193	66
6820 Mickey Dr	0.64mi	3/2.0	1,230 (+3%)	1mo	$289,500	$235	64
5920 Oak Hill Rd	0.64mi	3/2.0	1,251 (+5%)	1mo	$269,000	$215	61
6417 Kary Lynn Dr N	0.55mi	3/1.0	1,130 (-5%)	0mo	$225,000	$199	61
7017 Bennington Dr	0.41mi	3/2.0	1,351 (+13%)	1mo	$285,000	$211	58
7308 Levitt Ct	0.54mi	3/2.0	1,326 (+11%)	0mo	$270,000	$204	56
6420 Heather Dr	0.64mi	3/2.0	1,322 (+11%)	0mo	$290,000	$219	52
7405 Meadowdale Dr	0.67mi	3/2.0	1,332 (+12%)	1mo	$275,000	$206	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 · 4.34% rent growth · sell at horizon

5-year hold

• IRR: -8.0%
• Equity multiple: 0.70×
• Total profit: $-16,713
• Equity at exit: $29,672

10-year hold

• IRR: 3.3%
• Equity multiple: 1.25×
• Total profit: $14,014
• Equity at exit: $17,206

Cash invested: $55,720 (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 76148

• Home prices YoY: -17.1%
• Rents YoY: 4.3%
• Active inventory: 130
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $2,086 high
• Mortgage (P&I): −$1,044
• Tax from tax record: −$324 /mo · $3,885/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$438
• Net cashflow: $198

Break-even live

Break-even rent $1,836

Max offer price $199,000

Occupancy floor 86%

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6017 Hillcrest Dr Watauga, TX	3.0	2.0	1314	$1,950	$1.48	8d	1	0.13mi
6024 Herschel Dr Watauga, TX	3.0	2.0	1418	$1,950	$1.38	15d	1	0.19mi
6024 Herschel Dr Watauga, TX	3.0	2.0	1418	$1,950	$1.38	22d	1	0.19mi
6405 Kary Lynn Dr S Watauga, TX	3.0	2.0	1072	$1,950	$1.82	24d	1	0.47mi
5824 Storm Dr Watauga, TX	3.0	2.0	1148	$1,850	$1.61	19d	1	0.53mi
6617 Nola Dr Watauga, TX	3.0	2.0	1395	$2,095	$1.50	24d	1	0.55mi
7320 Echo Hill Dr Watauga, TX	3.0	2.0	1287	$1,890	$1.47	44d	1	0.56mi
6405 Kary Lynn Dr N Watauga, TX	3.0	2.0	1072	$1,950	$1.82	24d	1	0.56mi
7400 Echo Hill Dr Watauga, TX	3.0	2.0	1364	$1,950	$1.43	5d	1	0.58mi
7529 Meadowlark Ln N Watauga, TX	3.0	2.0	1342	$2,150	$1.60	44d	1	0.72mi
6269 Stardust Dr S Watauga, TX	3.0	2.0	1334	$1,975	$1.48	44d	1	0.74mi
7529 Walnuthill Ct Watauga, TX	3.0	2.0	1360	$2,150	$1.58	44d	1	0.75mi
6529 Blue Grass Dr Watauga, TX	3.0	2.0	1354	$2,150	$1.59	24d	1	0.77mi
6225 Stardust Dr S Watauga, TX	3.0	2.0	1120	$1,950	$1.74	44d	1	0.78mi
6516 Meadowview Ln Watauga, TX	3.0	2.0	1164	$2,100	$1.80	24d	1	0.79mi
5809 Haney Dr Watauga, TX	3.0	2.0	1421	$1,875	$1.32	24d	1	0.81mi
7608 Meadowlark Ln N Watauga, TX	3.0	2.0	1377	$1,925	$1.40	22d	1	0.81mi
6301 Sunnybrook Dr Fort Worth, TX	3.0	2.0	1278	$1,795	$1.40	24d	1	0.86mi
6437 Starnes Rd Watauga, TX	3.0	2.0	1297	$1,980	$1.53	44d	1	0.89mi
6937 Cheswick Dr North Richland Hills, TX	3.0	2.0	1181	$1,900	$1.61	17d	1	0.94mi
6937 Cheswick Dr North Richland Hills, TX	3.0	2.0	1181	$1,900	$1.61	22d	1	0.94mi
5705 Saramac Dr Watauga, TX	3.0	2.0	1224	$2,195	$1.79	44d	1	0.94mi
6633 Greendale Dr Watauga, TX	3.0	2.0	1379	$2,025	$1.47	21d	1	1.01mi
6633 Greendale Dr Watauga, TX	3.0	2.0	1379	$2,025	$1.47	24d	1	1.01mi
7733 Liz Ln Watauga, TX	3.0	2.0	1464	$1,975	$1.35	24d	1	1.02mi
6075 Lalagray Ln Watauga, TX	3.0	2.0	1202	$1,895	$1.58	4d	1	1.02mi
6889 Hightower Dr North Richland Hills, TX	3.0	2.0	1219	$1,939	$1.59	13d	1	1.02mi
6889 Hightower Dr North Richland Hills, TX	2.0	2.0	1022	$1,594	$1.56	2d	1	1.02mi
6401 Melinda Ct Watauga, TX	3.0	2.0	1236	$1,875	$1.52	44d	1	1.04mi
6889 Hightower Dr Unit 6946 North Richland Hills, TX	2.0	2.0	966	$1,434	$1.48	44d	1	1.05mi
6889 Hightower Dr Unit 6926 North Richland Hills, TX	2.0	2.0	1022	$1,496	$1.46	3d	1	1.05mi
6889 Hightower Dr Unit 6922 North Richland Hills, TX	3.0	2.0	1219	$1,921	$1.58	3d	1	1.05mi
6413 Melinda Ct Watauga, TX	3.0	2.0	1182	$1,995	$1.69	24d	1	1.06mi
7001 Newcastle Pl North Richland Hills, TX	3.0	2.0	1455	$2,400	$1.65	44d	1	1.07mi
6569 Westridge Dr Watauga, TX	3.0	2.5	1487	$2,050	$1.38	44d	1	1.08mi
5929 Gayle Dr Watauga, TX	3.0	2.0	1466	$1,995	$1.36	17d	1	1.08mi
7013 Lincolnshire Ln North Richland Hills, TX	3.0	2.0	1419	$2,200	$1.55	24d	1	1.08mi
7013 Lincolnshire Ln North Richland Hills, TX	3.0	2.0	1419	$2,000	$1.41	3d	1	1.08mi
6009 Marigold Dr Watauga, TX	3.0	2.0	1180	$2,091	$1.77	13d	1	1.14mi
6420 Sunrise Dr North Richland Hills, TX	3.0	2.0	1470	$1,725	$1.17	24d	1	1.16mi

Listing history 24 events

1. 2026-06-18
   days on market $199,000 Active 87 DOM
2. 2026-06-17
   days on market $199,000 Active 86 DOM
3. 2026-06-16
   days on market $199,000 Active 85 DOM
4. 2026-06-15
   days on market $199,000 Active 84 DOM
5. 2026-06-13
   pricedays on market $199,000 Active 82 DOM
6. 2026-06-09
   days on market $225,000 Active 78 DOM
7. 2026-06-08
   days on market $225,000 Active 77 DOM
8. 2026-06-07
   days on market $225,000 Active 76 DOM
9. 2026-06-04
   days on market $225,000 Active 73 DOM
10. 2026-06-03
    days on market $225,000 Active 72 DOM
11. 2026-06-02
    days on market $225,000 Active 71 DOM
12. 2026-06-01
    days on market $225,000 Active 70 DOM
13. 2026-05-31
    pricedays on market $225,000 Active 69 DOM
14. 2026-05-15
    price $256,000 847-char remark

    Show marketing remark (847 chars)

    Watauga investment opportunity with guaranteed Section 8 cash flow! Sold strictly AS-IS and subject to third-party approval. This tenant-occupied property is a premier addition to any rental portfolio, featuring a reliable Section 8 tenant on a month-to-month lease. Benefit from the security of government-backed rental payments in a well-established Watauga neighborhood known for high tenant demand and long-term stability. The home offers a functional layout with well-sized bedrooms and an attached garage. The living area flows into a kitchen with ample workspace, providing a solid foundation for future value-add improvements. This property is being sold in its current condition with no seller repairs. Due to tenant privacy, NO SHOWINGS are available until an acceptable offer is received. Secure this recession-resistant asset today!

15. 2026-05-04
    price $270,000 847-char remark

    Show marketing remark (847 chars)

    Watauga investment opportunity with guaranteed Section 8 cash flow! Sold strictly AS-IS and subject to third-party approval. This tenant-occupied property is a premier addition to any rental portfolio, featuring a reliable Section 8 tenant on a month-to-month lease. Benefit from the security of government-backed rental payments in a well-established Watauga neighborhood known for high tenant demand and long-term stability. The home offers a functional layout with well-sized bedrooms and an attached garage. The living area flows into a kitchen with ample workspace, providing a solid foundation for future value-add improvements. This property is being sold in its current condition with no seller repairs. Due to tenant privacy, NO SHOWINGS are available until an acceptable offer is received. Secure this recession-resistant asset today!

16. 2026-04-24
    price $306,850 847-char remark

    Show marketing remark (847 chars)

    Watauga investment opportunity with guaranteed Section 8 cash flow! Sold strictly AS-IS and subject to third-party approval. This tenant-occupied property is a premier addition to any rental portfolio, featuring a reliable Section 8 tenant on a month-to-month lease. Benefit from the security of government-backed rental payments in a well-established Watauga neighborhood known for high tenant demand and long-term stability. The home offers a functional layout with well-sized bedrooms and an attached garage. The living area flows into a kitchen with ample workspace, providing a solid foundation for future value-add improvements. This property is being sold in its current condition with no seller repairs. Due to tenant privacy, NO SHOWINGS are available until an acceptable offer is received. Secure this recession-resistant asset today!

17. 2026-04-16
    price $323,000 847-char remark

    Show marketing remark (847 chars)

    Watauga investment opportunity with guaranteed Section 8 cash flow! Sold strictly AS-IS and subject to third-party approval. This tenant-occupied property is a premier addition to any rental portfolio, featuring a reliable Section 8 tenant on a month-to-month lease. Benefit from the security of government-backed rental payments in a well-established Watauga neighborhood known for high tenant demand and long-term stability. The home offers a functional layout with well-sized bedrooms and an attached garage. The living area flows into a kitchen with ample workspace, providing a solid foundation for future value-add improvements. This property is being sold in its current condition with no seller repairs. Due to tenant privacy, NO SHOWINGS are available until an acceptable offer is received. Secure this recession-resistant asset today!

18. 2026-03-23
    price $340,000 847-char remark

    Show marketing remark (847 chars)

    Watauga investment opportunity with guaranteed Section 8 cash flow! Sold strictly AS-IS and subject to third-party approval. This tenant-occupied property is a premier addition to any rental portfolio, featuring a reliable Section 8 tenant on a month-to-month lease. Benefit from the security of government-backed rental payments in a well-established Watauga neighborhood known for high tenant demand and long-term stability. The home offers a functional layout with well-sized bedrooms and an attached garage. The living area flows into a kitchen with ample workspace, providing a solid foundation for future value-add improvements. This property is being sold in its current condition with no seller repairs. Due to tenant privacy, NO SHOWINGS are available until an acceptable offer is received. Secure this recession-resistant asset today!

19. 2026-02-24
    listed $264,000 Active 847-char remark

    Show marketing remark (847 chars)

    Watauga investment opportunity with guaranteed Section 8 cash flow! Sold strictly AS-IS and subject to third-party approval. This tenant-occupied property is a premier addition to any rental portfolio, featuring a reliable Section 8 tenant on a month-to-month lease. Benefit from the security of government-backed rental payments in a well-established Watauga neighborhood known for high tenant demand and long-term stability. The home offers a functional layout with well-sized bedrooms and an attached garage. The living area flows into a kitchen with ample workspace, providing a solid foundation for future value-add improvements. This property is being sold in its current condition with no seller repairs. Due to tenant privacy, NO SHOWINGS are available until an acceptable offer is received. Secure this recession-resistant asset today!

20. 2024-07-26
    historical $2,500
21. 2024-07-11
    price $2,500
22. 2024-07-08
    listed $2,800
23. 2020-10-16
    soldstatus
24. 2020-09-29
    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: $3,885 · $324/mo
• Projected year-2 tax: $3,885 · $324/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 7/10 Severe 7 d/yr ≥109°F today · 23 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 19% 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: $25,036
• − Mortgage interest: −$11,147
• − Property taxes: −$3,885
• − Insurance: −$995
• − Repairs & maintenance: −$2,003
• − Management: −$2,003
• − Depreciation: −$5,789
• Taxable loss: −$786
• Est. tax savings @ 24.0%: +$189
• After-tax cash flow: $2,564/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: Birdville ISD
• NCES district ID: 4810230
• Math proficiency: 42% ▼ -12.00%
• Reading proficiency: 43% ▼ -6.00%
• Median HH income: $55,930
• Composite: 37.13/100
• National rank: #4491
• State rank: #299 of 826 in TX

Livability — Watauga

• Score: 76/100
• State rank: #105
• US rank: #3500

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Watauga, TX
• County: Tarrant County · 2,033,669 people
• City population: 23,367
• Metro: Dallas-Fort Worth-Arlington, TX
• Population (ZIP): 23,367
• Household income: $89,840
• Rent vs Own: 18.6% rent · 81.4% own
• Severe rent burden: 373.0

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 0.59)
• Race & ethnicity: White 57% Hispanic / Latino 29% Two or more races 16% Black 6% Asian 5% Native American 1%
• Hispanic origin (detail): Mexican 22% Puerto Rican 2%
• Common ancestry: Lithuanian 2% Slovak 2% Italian 1%
• Foreign-born: 12% · Canada, Vietnam
• Languages at home: 79% English-only · Spanish 16% Tagalog/Filipino 2% Other Asian/Pacific 2%

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: ▼ -64.11%
• Current HPI: 310.2504
• Rent YoY: ▲ 4.34%
• 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

+9042.9% since first listed

11 events — show timeline

• 2026-05-15 Price Changed $256,000 NTREIS
• 2026-05-04 Price Changed $270,000 NTREIS
• 2026-04-24 Price Changed $306,850 NTREIS
• 2026-04-16 Price Changed $323,000 NTREIS
• 2026-03-23 Price Changed $340,000 NTREIS
• 2026-02-24 Listed $264,000 NTREIS
• 2024-07-26 Rental Removed $2,500 BUILDIUM
• 2024-07-11 Price Changed $2,500 BUILDIUM
• 2024-07-08 Listed for Rent $2,800 BUILDIUM
• 2020-10-16 Sold (Public Records) — Public Records
• 2020-09-29 Sold (Public Records) — Public Records

Property tax history

+4.4%/yr

Latest (2025): $3,885 · -11.0% YoY. Source: county tax records.