4604 Reed St · Fort Worth, TX 76119

$154,900

3 bd · 1.0 ba · 1,546 sqft · SingleFamily public records · 103 Days on market

Built 1958 7,797 sqft lot Est $271k · 43% under ↓ 11% since listing

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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 +24.1/30.0
• ARV discount +15.0/15.0
• DSCR +7.8/10.0
• 1% rule +6.3/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Great opportunity for investors or buyers looking to renovate and add value. This 3 bedroom 2cbath home offers a functional layout and strong potential with updates and repairs. Conveniently located in an established Fort Worth neighborhood near major roadways, shopping, and local amenities. Property is being sold as-is, with no repairs to be made by seller. Ideal for renovation, resale, or long-term rental. Check it out!

Key facts

• Long-term rental
• Major roadways
• Renovation

Tags

• FORT WORTH NEIGHBORHOOD
• MAJOR ROADWAYS
• SHOPPING
• LOCAL AMENITIES
• RENOVATION
• LONG-TERM RENTAL

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $306 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $155k).
• Recommended offer: $141k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.7% 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.
• 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.
• Zoned schools: A M Pate El (math 17% / reading 22%, grade F, #3,583 of 4,322 statewide, top 86%, 356 students, 99% FRL) — zoned schools average 99% FRL vs 73% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-1.6%/yr); 186 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 44% 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).
• This rent runs 41% of the median local income ($51k/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 $1k of loan paydown is wiped out by about $5k 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 103 days — a 9% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1958 — 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 $140,959 (9.0% below list)

Questions for the listing agent

1. It's been on market 103 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1958 — 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. 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?
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: 1.13% ✓
• Cap rate: 8.66%
• Cash-on-cash: 8.47%
• DSCR: 1.38
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $270,550
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4613 Emerson St	0.09mi	3/2.0	1,700 (+10%)	0mo	$160,000	$94	75
3913 Pate Dr	0.36mi	4/2.0 (+1)	1,614 (+4%)	3mo	$245,000	$152	64
4117 Wiman Dr	0.50mi	3/2.5	1,513 (-2%)	3mo	$115,000	$76	64
4509 Quails Ln	0.28mi	4/2.0 (+1)	1,419 (-8%)	3mo	$228,999	$161	62
4824 Sunshine Dr	0.73mi	3/2.0	1,564 (+1%)	0mo	$289,000	$185	60
3918 Miller Ave	0.54mi	4/2.0 (+1)	1,500 (-3%)	2mo	$235,000	$157	59
3401 S Hughes Ave	0.19mi	4/2.0 (+1)	1,766 (+14%)	3mo	$359,000	$203	56
3879 Freddie St	0.59mi	3/1.5	1,390 (-10%)	0mo	$155,000	$112	54
5000 Reed St	0.43mi	4/2.0 (+1)	1,382 (-11%)	2mo	$242,000	$175	52
5030 Pinson St	0.63mi	3/2.0	1,397 (-10%)	4mo	$299,000	$214	48
5013 Cottey St	0.65mi	3/2.0	1,397 (-10%)	4mo	$262,500	$188	47
5017 Cottey St	0.67mi	3/2.0	1,397 (-10%)	4mo	$268,500	$192	46

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: -6.9%
• Equity multiple: 0.75×
• Total profit: $-10,711
• Equity at exit: $23,096

10-year hold

• IRR: -1.5%
• Equity multiple: 0.91×
• Total profit: $-3,940
• Equity at exit: $13,393

Cash invested: $43,372 (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 76119

• Home prices YoY: -6.4%
• Rents YoY: -1.6%
• Active inventory: 186
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,751 high
• Mortgage (P&I): −$812
• Tax from tax record: −$201 /mo · $2,408/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$368
• Net cashflow: $306

Break-even live

Break-even rent $1,364

Max offer price $154,900

Occupancy floor 78%

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: $38,725
• Closing costs: $4,647
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4336 Jana Dr Fort Worth, TX	3.0	1.0	1070	$1,650	$1.54	3d	1	0.41mi
4217 Wilhelm St Fort Worth, TX	3.0	2.0	1380	$1,650	$1.20	43d	1	0.50mi
5055 Virgil St Fort Worth, TX	3.0	2.0	1089	$1,650	$1.52	24d	1	0.52mi
4312 Lorin Ave Fort Worth, TX	4.0	2.0	1230	$2,000	$1.63	43d	1	0.79mi
2500 S Edgewood Ter Fort Worth, TX	1.0–3.0	1.0–2.5	1123	$1,895	$1.69	1d	34	0.80mi
2302 Coleman Ave Fort Worth, TX	3.0	2.0	1960	$1,550	$0.79	43d	1	0.93mi
2701 Vogt St Fort Worth, TX	3.0	2.0	1090	$1,475	$1.35	13d	1	1.01mi
3865 Stalcup Rd Fort Worth, TX	3.0	2.0	1090	$1,814	$1.66	6d	1	1.09mi
5328 Carol Ave Fort Worth, TX	4.0	2.0	1230	$2,100	$1.71	43d	1	1.10mi
3816 Avenue N Fort Worth, TX	3.0	1.0	1108	$1,550	$1.40	5d	1	1.22mi
3700 Radford Rd Fort Worth, TX	3.0	2.0	1124	$1,650	$1.47	24d	1	1.28mi
3700 Radford Rd Fort Worth, TX	3.0	2.0	1124	$1,650	$1.47	12d	1	1.28mi
4929 Willie St Fort Worth, TX	3.0	2.0	1386	$1,650	$1.19	3d	1	1.29mi
4514 Erath St Fort Worth, TX	4.0	2.0	1536	$1,850	$1.20	43d	1	1.33mi
3731 Avenue M Unit M Fort Worth, TX	3.0	2.0	1425	$1,900	$1.33	21d	1	1.33mi
3211 Montague St Fort Worth, TX	3.0	2.0	1460	$1,999	$1.37	43d	1	1.39mi
5712 Whittlesey Rd Fort Worth, TX	4.0	2.0	1610	$2,000	$1.24	44d	1	1.42mi
4801 Shackleford St Fort Worth, TX	4.0	2.5	2009	$2,375	$1.18	43d	1	1.48mi

Listing history 15 events

1. 2026-06-18
   days on market $154,900 Active 103 DOM
2. 2026-06-17
   days on market $154,900 Active 102 DOM
3. 2026-06-16
   days on market $154,900 Active 101 DOM
4. 2026-06-15
   days on market $154,900 Active 100 DOM
5. 2026-06-13
   statusdays on market $154,900 Active 98 DOM
6. 2026-04-28
   status Pending
7. 2026-03-30
   price $154,900
8. 2026-02-26
   price $159,900
9. 2026-01-22
   listed $164,900 Active
10. 2026-01-19
    historical
11. 2026-01-08
    listed $175,000 Active
12. 2025-12-30
    historical
13. 2025-09-10
    listed $175,000 Active
14. 2020-04-13
    soldstatus
15. 1967-11-02
    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: $2,408 · $201/mo
• Projected year-2 tax: $2,835 · $236/mo
• Expected delta: +$427/yr (+$36/mo · 17.7%)

ⓘ 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 ≥110°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: $21,016
• − Mortgage interest: −$8,677
• − Property taxes: −$2,408
• − Insurance: −$774
• − Repairs & maintenance: −$1,681
• − Management: −$1,681
• − Depreciation: −$4,506
• Taxable income: $1,288
• Est. tax owed @ 24.0%: −$309
• After-tax cash flow: $3,363/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): 52,974
• Household income: $51,267
• Rent vs Own: 45.3% rent · 54.7% own
• Severe rent burden: 2221.0

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 0.60)
• Race & ethnicity: Hispanic / Latino 51% Black 36% Two or more races 26% White 8% Asian 3%
• Hispanic origin (detail): Mexican 44%
• Foreign-born: 25% · Canada, Philippines
• Languages at home: 54% English-only · Spanish 42% Other Indo-European 2% Other Asian/Pacific 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: ▼ -23.04%
• Current HPI: 336.7941
• Rent YoY: ▼ -1.61%
• 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

-11.5% since first listed

10 events — show timeline

• 2026-04-28 Pending — NTREIS
• 2026-03-30 Price Changed $154,900 NTREIS
• 2026-02-26 Price Changed $159,900 NTREIS
• 2026-01-22 Listed $164,900 NTREIS
• 2026-01-19 Listing Removed — NTREIS
• 2026-01-08 Listed $175,000 NTREIS
• 2025-12-30 Listing Removed — NTREIS
• 2025-09-10 Listed $175,000 NTREIS
• 2020-04-13 Sold (Public Records) — Public Records
• 1967-11-02 Sold (Public Records) — Public Records

Property tax history

+5.9%/yr

Latest (2025): $2,408 · -15.9% YoY. Source: county tax records.