1836 Coral Rd · Pelican Bay, TX 76020

$158,000

3 bd · 1.0 ba · 792 sqft · SingleFamily public records · 118 Days on market

Built 1984 6,795 sqft lot $199/sqft · 12% above area Est $141k · 12% over

---

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).

• Cash flow +17.0/30.0
• DSCR +5.3/10.0
• 1% rule +4.8/10.0
• Schools +3.6/10.0
• Rent growth +3.1/5.0
• Livability +3.1/5.0
• Condition / age +2.5/5.0
• ARV discount +2.1/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Now Tenant occupied with a one year lease. Do not disturb tenant. Add this great home to your investment portfolio with a tenant already in place! Quaint 3 bedroom home with an adorable front porch in Pelican Bay. Ideal for everyone! Discover comfort and charm in this delightful 3 bedroom - 1 bath home located in the welcoming Pelican Bay neighborhood in Azle. With an open floor plan, this home feels bright and airy, offering a seamless flow from living to dining to kitchen, perfect for everyday living and entertaining. The 1 car garage provides convenient storage and also serves a laundry area with washer and dryer hookups. The spacious fenced yard offers room to relax or create your ideal outdoor space. Situated within Azle ISD and with no HOA, this home is a fantastic opportunity to plant roots in a friendly, established community. Don't miss out on this gem! No survey is available. Sold As-Is, seller will not make any repairs. All disclosures online. Please do not disturb occupants.

Key facts

• Spacious yard
• Open floor plan
• Friendly community

Tags

• OPEN FLOOR PLAN
• 1 CAR GARAGE
• LAUNDRY AREA
• SPACIOUS YARD
• NO HOA
• FRIENDLY COMMUNITY

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $158k.

Deal economics

• At list price, monthly cash flow is $107 ($1k/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 $154k (2.5% below list).
• Recommended offer: $144k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 62/100 on livability (#917 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: health & safety D+, amenities F, commute F.
• Azle ISD (suburban): math 37% / reading 43% proficiency, ranked #351 of 826 in TX (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Liberty El (math 32% / reading 42%, grade F, #1,769 of 4,322 statewide, top 44%, 466 students, 64% FRL); Santo Forte J H (math 28% / reading 41%, grade F, #858 of 1,662 statewide, top 54%, 514 students, 55% FRL); Azle H S (math 41% / reading 50%, grade D-, #634 of 1,632 statewide, top 39%, 2,054 students, 44% FRL).
• Market conditions: Rents rising (+2.3%/yr); 594 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $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 118 days — a 9% lower offer ($144k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Climate carrying-cost: moderate wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $143,780 (9.0% below list)

Questions for the listing agent

1. It's been on market 118 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.98% ✗
• Cap rate: 7.11%
• Cash-on-cash: 2.91%
• DSCR: 1.13
• GRM: 8.5

CMA / ARV

• ARV (median comp): $141,140
• List price: $158,000
• Delta: 11.95%
• Verdict: OVERPRICED
• Comps: 18 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1812 Gale Dr	0.22mi	2/1.0 (-1)	840 (+6%)	2mo	$55,000	$65	73
1852 Coral Rd	0.04mi	2/2.0 (-1)	903 (+14%)	1mo	$100,000	$111	65
1815 Pelican W	0.06mi	2/1.0 (-1)	696 (-12%)	11mo	$150,000	$216	63
1908 Coral Rd	0.09mi	2/1.0 (-1)	696 (-12%)	12mo	$90,000	$129	60

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 · 2.31% rent growth · sell at horizon

5-year hold

• IRR: -12.5%
• Equity multiple: 0.55×
• Total profit: $-19,787
• Equity at exit: $23,558

10-year hold

• IRR: -4.5%
• Equity multiple: 0.72×
• Total profit: $-12,579
• Equity at exit: $13,661

Cash invested: $44,240 (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 76020

• Home prices YoY: -20.6%
• Rents YoY: 2.3%
• Active inventory: 594
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,541 high
• Mortgage (P&I): −$829
• Tax from tax record: −$216 /mo · $2,589/yr
• Insurance: −$66
• HOA: −$0
• Vacancy / Maint / Mgmt: −$324
• Net cashflow: $107

Break-even live

Break-even rent $1,405

Max offer price $158,000

Occupancy floor 88%

Sensitivity live

Price	-10% $197	-5% $152	+0% $107	+5% $63	+10% $18
Rent	-10% $-14	-5% $47	+0% $107	+5% $168	+10% $229
Rate	-1.0pp $187	-0.5pp $148	base $107	+0.5pp $67	+1.0pp $25

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: $39,500
• Closing costs: $4,740
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1920 Reef Ct Azle, TX	3.0	2.0	1090	$1,449	$1.33	45d	1	0.14mi
11124 Liberty School Rd Unit 24B Azle, TX	2.0	2.0	700	$999	$1.43	23d	1	0.46mi
11128 Liberty School Rd Unit 28A Azle, TX	2.0	2.0	700	$1,050	$1.50	26d	1	0.47mi
1620 Mockingbird Ln Azle, TX	3.0	2.0	1090	$1,499	$1.38	22d	1	0.67mi
1329 Fox Hollow Ct Azle, TX	2.0	1.0	924	$900	$0.97	8d	1	0.68mi

Listing history 20 events

1. 2026-06-21
   days on market $158,000 Active 118 DOM
2. 2026-06-18
   days on market $158,000 Active 115 DOM
3. 2026-06-17
   days on market $158,000 Active 114 DOM
4. 2026-06-16
   days on market $158,000 Active 113 DOM
5. 2026-06-15
   days on market $158,000 Active 112 DOM
6. 2026-06-13
   days on market $158,000 Active 110 DOM
7. 2026-06-13
   days on market $158,000 Active 109 DOM
8. 2026-06-09
   days on market $158,000 Active 106 DOM
9. 2026-06-08
   days on market $158,000 Active 105 DOM
10. 2026-06-07
    days on market $158,000 Active 104 DOM
11. 2026-06-04
    days on market $158,000 Active 101 DOM
12. 2026-06-03
    days on market $158,000 Active 100 DOM
13. 2026-06-02
    days on market $158,000 Active 99 DOM
14. 2026-06-01
    days on market $158,000 Active 98 DOM
15. 2026-05-31
    days on market $158,000 Active 97 DOM
16. 2026-02-20
    listed $158,000 Active 1008-char remark

    Show marketing remark (1008 chars)

    Now Tenant occupied with a one year lease. Do not disturb tenant. Add this great home to your investment portfolio with a tenant already in place! Quaint 3 bedroom home with an adorable front porch in Pelican Bay. Ideal for everyone! Discover comfort and charm in this delightful 3 bedroom - 1 bath home located in the welcoming Pelican Bay neighborhood in Azle. With an open floor plan, this home feels bright and airy, offering a seamless flow from living to dining to kitchen, perfect for everyday living and entertaining. The 1 car garage provides convenient storage and also serves a laundry area with washer and dryer hookups. The spacious fenced yard offers room to relax or create your ideal outdoor space. Situated within Azle ISD and with no HOA, this home is a fantastic opportunity to plant roots in a friendly, established community. Don't miss out on this gem! No survey is available. Sold As-Is, seller will not make any repairs. All disclosures online. Please do not disturb occupants.

17. 2026-02-19
    historical $1,200
18. 2026-02-04
    price $1,200
19. 2026-01-25
    listed $1,600
20. 1983-11-18
    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: $2,589 · $216/mo
• Projected year-2 tax: $2,891 · $241/mo
• Expected delta: +$302/yr (+$25/mo · 11.7%)

ⓘ 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 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 22 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 24% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,495
• − Mortgage interest: −$8,850
• − Property taxes: −$2,589
• − Insurance: −$790
• − Repairs & maintenance: −$1,480
• − Management: −$1,480
• − Depreciation: −$4,596
• Taxable loss: −$1,290
• Est. tax savings @ 24.0%: +$310
• After-tax cash flow: $1,599/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: Azle ISD
• NCES district ID: 4809200
• Math proficiency: 37% ▼ -11.00%
• Reading proficiency: 43% ▼ -5.00%
• Median HH income: $61,473
• Composite: 35.57/100
• National rank: #4900
• State rank: #351 of 826 in TX

Livability — Pelican Bay

• Score: 62/100
• State rank: #917
• US rank: #16376

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pelican Bay, TX
• County: Parker County · 144,797 people
• Metro: Dallas-Fort Worth-Arlington, TX
• Population (ZIP): 34,602
• Household income: $87,298
• Rent vs Own: 22.3% rent · 77.7% own
• Severe rent burden: 433.0

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 White (78%)
• Race & ethnicity: White 78% Hispanic / Latino 18% Two or more races 9% Black 1%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Slovak 2% Italian 1% Portuguese 1%
• Foreign-born: 5% · Canada
• Languages at home: 89% English-only · Spanish 11%

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: ▼ -74.72%
• Current HPI: 287.155
• Rent YoY: ▲ 2.31%
• 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

+9775.0% since first listed

5 events — show timeline

• 2026-02-20 Listed $158,000 NTREIS
• 2026-02-19 Rental Removed $1,200 NTREIS
• 2026-02-04 Price Changed $1,200 NTREIS
• 2026-01-25 Listed for Rent $1,600 NTREIS
• 1983-11-18 Sold (Public Records) — Public Records

Property tax history

+7.0%/yr

Latest (2025): $2,589 · -10.4% YoY. Source: county tax records.