2937 S Adams St · Fort Worth, TX 76110

$265,000

4 bd · 2.0 ba · 1,522 sqft · MultiFamily public records · 1 Days on market

Built 1929 7,492 sqft lot $174/sqft · at area comps Est $266k · at est.

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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 +25.5/30.0
• DSCR +8.5/10.0
• 1% rule +7.8/10.0
• ARV discount +7.7/15.0
• Livability +4.0/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

LOOKING FOR A LOW CASH FLOWING INVESTMENT PROPERTY. LOOK NO FURTHER. Low price point Duplex in good condition in a quiet South Fort Worth residential neighborhood near TCU and the Near Southside. With upgrades and improvements should be able to get closer to market rents and cash flow more. Property offers a 2-bed 1-bath unit currently leased at $1,195 per month start June 1 2026 end June 25th 2027 and a 1-bed 1-bath unit leased at $1050 start May 20 2026 end June 19th 2027. Both units feature vinyl plank flooring, appliances, ceiling fans, front and back porches, and large private backyards. Major paid upgrades include roof replacement, updated siding, and new heat & air window units

Key facts

• Updated siding
• Roof replacement
• Vinyl plank flooring

Tags

• UPGRADES AND IMPROVEMENTS
• VINYL PLANK FLOORING
• LARGE PRIVATE BACKYARDS
• ROOF REPLACEMENT
• UPDATED SIDING
• NEW HEAT AND AIR WINDOW UNITS

Property features AI

Finance

• Other: Property type: Residential income (duplex); Will not subdivide; Parcel number: 06230180
• Financial info: Gross annual income reported; Gross annual income: $27,480; Gross annual expenses: $800; Insurance expense: $1,804; Net operating income: $1,793; Capitalization rate: 0.68
• HOA & community: No association

Exterior

• Parking: Driveway; 1 parking space
• Utilities: City water; City sewer
• Home design: Duplex (residential income); 1 building with 2 units; Built in 1929; Shingle roof; Siding construction
• Construction: Shingle roof; Siding exterior; Other foundation
• Exterior features: Covered porch(es); Private yard; Back yard fencing

Interior

• Kitchen: Electric cooktop; Electric oven; Electric range; Microwave; Refrigerator
• Bedrooms: 3 bedrooms
• Flooring: Tile flooring; Vinyl flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Wall/window air conditioning units
• Interior features: One-level layout; Covered porch(es); Private yard
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $265k.

Deal economics

• At list price, monthly cash flow is $619 ($7k/yr) — positive. Per door: $309/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $265k).
• Cap rate 9.1% 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: Daggett El (math 17% / reading 20%, grade F, #3,759 of 4,322 statewide, top 88%, 544 students, 84% FRL).
• Market conditions: Rents flat; 150 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 18,938 units permitted in Tarrant County in 2024 (8,336 in 5+ unit buildings).
• At $3,379/mo this rent would consume 58% of the median local household income ($70k/yr) (locally 1471% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• 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.
• Tarrant County population projected at +41% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 6y ago 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

• Watch-outs: built in 1929 — 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 $265,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1929 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.28% ✓
• Cap rate: 9.10%
• Cash-on-cash: 10.01%
• DSCR: 1.45
• GRM: 6.5

CMA / ARV

• ARV (median comp): $266,273
• List price: $265,000
• Delta: -0.48%
• Verdict: FAIR
• Comps: 13 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1241 Lowe St	0.37mi	4/2.0	1,512 (-1%)	12mo	$270,000	$179	72
3502 College Ave	0.67mi	3/3.0 (-1)	1,720 (+13%)	16mo	$225,000	$131	24

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 · 0.7% rent growth · sell at horizon

5-year hold

• IRR: -4.1%
• Equity multiple: 0.85×
• Total profit: $-10,988
• Equity at exit: $39,512

10-year hold

• IRR: 2.5%
• Equity multiple: 1.16×
• Total profit: $11,981
• Equity at exit: $22,912

Cash invested: $74,200 (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 76110

• Rents YoY: 0.7%
• Active inventory: 150
• Price-to-rent: 13.1×

Monthly cashflow live

• Estimated rent: $3,379 high
• Mortgage (P&I): −$1,390
• Tax from tax record: −$550 /mo · $6,606/yr
• Insurance: −$110
• HOA: −$0
• Vacancy / Maint / Mgmt: −$710
• Net cashflow: $619

Break-even live

Break-even rent $2,596

Max offer price $265,000

Occupancy floor 77%

Sensitivity live

Price	-10% $769	-5% $694	+0% $619	+5% $544	+10% $469
Rent	-10% $352	-5% $485	+0% $619	+5% $752	+10% $886
Rate	-1.0pp $752	-0.5pp $686	base $619	+0.5pp $550	+1.0pp $480

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,378
Total (2 units)			$3,379

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: $66,250
• Closing costs: $7,950
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2932 Travis Ave Unit 2932 Fort Worth, TX	3.0	2.0	1600	$1,700	$1.06	21d	1	0.22mi
1246 Lowe St Fort Worth, TX	3.0	2.5	1752	$1,895	$1.08	15d	1	0.32mi
2911 Ryan Ave Fort Worth, TX	3.0	2.0	1790	$1,750	$0.98	7d	1	0.33mi
3225 S Adams St Fort Worth, TX	4.0	2.0	1948	$2,395	$1.23	25d	1	0.34mi
3201 Ryan Ave Fort Worth, TX	4.0	2.0	2000	$2,100	$1.05	44d	1	0.43mi
2828 Addison Park Ln Fort Worth, TX	3.0	3.5	1936	$2,495	$1.29	21d	1	0.52mi
2807 Stanley Ave Fort Worth, TX	3.0	2.5	1906	$2,395	$1.26	25d	1	0.55mi
3303 8th Ave Fort Worth, TX	3.0	2.0	1348	$2,000	$1.48	25d	1	0.56mi
2532 Ryan Ave Fort Worth, TX	3.0	2.0	1416	$2,100	$1.48	44d	1	0.57mi
1741 W Cantey St Fort Worth, TX	3.0	3.5	1882	$2,400	$1.28	3d	1	0.57mi
3329 Hemphill St Fort Worth, TX	3.0	2.0	1425	$2,950	$2.07	44d	1	0.57mi
2828 Livingston Ave Fort Worth, TX	4.0	2.5	2208	$3,700	$1.68	44d	1	0.62mi
3411 8th Ave Fort Worth, TX	3.0	2.0	1280	$1,700	$1.33	5d	1	0.67mi
2816 Gordon Ave Fort Worth, TX	3.0	3.0	1570	$3,000	$1.91	7d	1	0.68mi
2806 Gordon Ave Fort Worth, TX	5.0	4.0	2143	$4,800	$2.24	44d	1	0.69mi
2800 Gordon Ave Fort Worth, TX	5.0	4.0	2143	$4,800	$2.24	44d	1	0.69mi
2821 Frazier Ave Unit 2823 Fort Worth, TX	3.0	2.0	1200	$1,600	$1.33	19d	1	0.76mi
2737 Stuart Dr Fort Worth, TX	5.0	2.0	2132	$1,749	$0.82	22d	1	0.81mi
2712 Frazier Ave Fort Worth, TX	3.0	2.0	1099	$2,625	$2.39	19d	1	0.83mi
2701 Stuart Dr Fort Worth, TX	3.0	3.0	2104	$1,800	$0.86	44d	1	0.83mi
2803 Wayside Ave Fort Worth, TX	3.0	2.0	1190	$1,700	$1.43	25d	1	0.84mi
2001 Park Hill Dr Fort Worth, TX	1.0–3.0	1.0–2.0	1024	$2,459	$2.40	2d	50	0.87mi
2200 6th Ave Fort Worth, TX	3.0	3.0	1552	$2,650	$1.71	44d	1	0.87mi
3134 Wayside Ave Fort Worth, TX	3.0	2.5	1922	$3,000	$1.56	7d	1	0.88mi
3136 Wayside Ave Fort Worth, TX	3.0	2.5	1875	$3,000	$1.60	7d	1	0.88mi
2311 Warner Rd Fort Worth, TX	3.0	2.0	2114	$3,750	$1.77	19d	1	0.89mi
2311 Warner Rd Fort Worth, TX	3.0	2.0	2114	$3,750	$1.77	7d	1	0.89mi
2932 Forest Park Blvd Fort Worth, TX	5.0	3.0	2230	$4,500	$2.02	25d	1	0.91mi
2313 W Devitt St Fort Worth, TX	5.0	4.0	2000	$4,000	$2.00	19d	1	0.92mi
3201 Forest Park Blvd Fort Worth, TX	4.0	4.0	1772	$3,750	$2.12	19d	1	0.92mi
2706 Forest Park Blvd Fort Worth, TX	5.0	5.5	2230	$5,000	$2.24	25d	1	0.94mi
2700 Forest Park Blvd Fort Worth, TX	5.0	5.5	2235	$5,000	$2.24	25d	1	0.95mi
3445 Frazier Ave Fort Worth, TX	3.0	2.5	1540	$2,200	$1.43	44d	1	0.95mi
2101 Fairmount Ave Fort Worth, TX	3.0	2.5	1516	$3,200	$2.11	2d	1	0.95mi
2701 McCart Ave #101 Fort Worth, TX	5.0	3.5	2095	$4,500	$2.15	25d	1	0.98mi
2714 McCart Ave Fort Worth, TX	4.0	4.0	2090	$4,800	$2.30	19d	1	1.00mi
2800 Sandage Ave Apt 203 Fort Worth, TX	3.0	3.0	1931	$3,300	$1.71	7d	1	1.04mi
3238 McCart Ave Fort Worth, TX	5.0	5.0	2000	$4,750	$2.38	44d	1	1.04mi
2505 Benbrook Blvd Unit 503 Fort Worth, TX	3.0	3.0	1367	$2,495	$1.83	44d	1	1.07mi
3241 Sandage Ave Fort Worth, TX	3.0	2.0	1115	$3,000	$2.69	19d	1	1.07mi

Listing history 23 events

1. 2026-06-18
   days on marketlisting id $265,000 Active 1 DOM
2. 2026-05-31
   days on market $265,000 Active 144 DOM
3. 2026-01-06
   listed $265,000 Active 1011-char remark
4. 2025-12-09
   historical
5. 2025-08-16
   price $284,900
6. 2025-07-09
   listed $294,900 Active
7. 2023-05-05
   soldstatus Closed
8. 2023-05-05
   soldstatus
9. 2023-04-11
   status Pending
10. 2023-04-03
    historical Active Option Contract
11. 2023-03-28
    price $275,000
12. 2023-02-06
    price $278,000
13. 2023-01-26
    listed $280,000 Active
14. 2021-12-31
    soldstatus Sold
15. 2021-12-09
    status Pending
16. 2021-11-17
    historical Active Option Contract
17. 2021-10-30
    listed $185,000 Active
18. 2020-03-06
    soldstatus
19. 2020-02-26
    soldstatus
20. 2020-02-24
    soldstatus Sold
21. 2020-02-19
    status Pending
22. 2020-02-10
    historical Active Option Contract
23. 2020-02-06
    listed $150,000 Active

ⓘ 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: $6,606 · $550/mo
• Projected year-2 tax: $6,606 · $550/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 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: $40,548
• − Mortgage interest: −$14,844
• − Property taxes: −$6,606
• − Insurance: −$1,325
• − Repairs & maintenance: −$3,244
• − Management: −$3,244
• − Depreciation: −$7,709
• Taxable income: $3,576
• Est. tax owed @ 24.0%: −$858
• After-tax cash flow: $6,567/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): 33,441
• Household income: $69,790
• Rent vs Own: 37.6% rent · 62.4% own
• Severe rent burden: 1471.0

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 Hispanic (63%)
• Race & ethnicity: Hispanic / Latino 63% White 30% Two or more races 24% Black 2% Asian 2%
• Hispanic origin (detail): Mexican 57%
• Common ancestry: Slovak 1% Italian 1% Lithuanian 1%
• Foreign-born: 26% · Canada, China
• Languages at home: 45% English-only · Spanish 52% Other Asian/Pacific 1% Other Indo-European 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: ▼ -194.46%
• Current HPI: 274.8888
• Rent YoY: ▲ 0.70%
• 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

+76.7% since first listed

23 events — show timeline

• 2026-06-18 Listed $265,000 NTREIS
• 2026-05-31 Listing Removed — NTREIS
• 2026-01-06 Listed $265,000 NTREIS
• 2025-12-09 Listing Removed — NTREIS
• 2025-08-16 Price Changed $284,900 NTREIS
• 2025-07-09 Listed $294,900 NTREIS
• 2023-05-05 Sold (Public Records) — Public Records
• 2023-05-05 Sold (MLS) — NTREIS
• 2023-04-11 Pending — NTREIS
• 2023-04-03 Contingent — NTREIS
• 2023-03-28 Price Changed $275,000 NTREIS
• 2023-02-06 Price Changed $278,000 NTREIS
• 2023-01-26 Listed $280,000 NTREIS
• 2021-12-31 Sold (MLS) — NTREIS
• 2021-12-09 Pending — NTREIS
• 2021-11-17 Contingent — NTREIS
• 2021-10-30 Listed $185,000 NTREIS
• 2020-03-06 Sold (Public Records) — Public Records
• 2020-02-26 Sold (Public Records) — Public Records
• 2020-02-24 Sold (MLS) — NTREIS
• 2020-02-19 Pending — NTREIS
• 2020-02-10 Contingent — NTREIS
• 2020-02-06 Listed $150,000 NTREIS

Property tax history

+18.9%/yr

Latest (2025): $6,606 · -2.4% YoY. Source: county tax records.