1428 Palamedes Dr · Fort Worth, TX 76140

$259,900

3 bd · 2.0 ba · 1,604 sqft · SingleFamily public records · 127 Days on market

Built 2022 5,619 sqft lot $162/sqft · 13% below area Est $299k · 13% under $36/mo HOA · 2% of rent ↓ 7% since listing

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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).

• ARV discount +13.4/15.0
• Cash flow +7.8/30.0
• Livability +4.0/5.0
• 1% rule +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• DSCR +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 3-bedroom, 2-bathroom home, built in 2022, offers the sleek efficiency and pristine condition of nearly new construction. The interior features a modern, open-concept layout with contemporary finishes and updated systems throughout, ensuring a completely move-in-ready experience with no updates or repairs required. With its generous bedroom count and clean architectural lines, this residence provides a fresh, turn-key foundation for a buyer seeking a low-maintenance lifestyle and the reliability of a recent build.

Key facts

• 5,619 sq ft lot
• 2 garage spots
• Built 2022

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $260k.

Deal economics

• At list price, monthly cash flow is $-285 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $209k (19.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $214k (17.8% below list).
• Recommended offer: $209k (19.4% below list) — sets the bar for cash-flow.
• Cap rate 5.0% vs local median 3.9% in Fort Worth — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: schools D+, crime F.
• Everman ISD (suburban): math 21% / reading 32% proficiency, ranked #691 of 826 in TX (top 84%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 77% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents flat; 374 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 18,938 units permitted in Tarrant County in 2024 (8,336 in 5+ unit buildings).
• This rent runs 34% of the median local income ($76k/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 $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

• It's been on market 127 days — a 12% lower offer ($229k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $209,472 (19.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 127 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.82% ✗
• Cap rate: 4.97%
• Cash-on-cash: -4.71%
• DSCR: 0.79
• GRM: 10.1

CMA / ARV

• ARV (median comp): $298,911
• List price: $259,900
• Delta: -11.38%
• 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
1452 Palamedes Dr	0.06mi	4/2.0 (+1)	1,726 (+8%)	3mo	$254,900	$148	77
9709 Dan Meyer Dr	0.12mi	4/2.0 (+1)	1,726 (+8%)	1mo	$285,000	$165	76
1505 Harvester Dr	0.27mi	4/2.0 (+1)	1,724 (+8%)	2mo	$309,900	$180	68
1405 Orange Tree Dr	0.50mi	4/2.0 (+1)	1,657 (+3%)	2mo	$297,990	$180	64
1425 Orange Tree Dr	0.49mi	4/2.0 (+1)	1,662 (+4%)	3mo	$292,990	$176	64
1604 Queens Brook Ct	0.40mi	3/2.0	1,439 (-10%)	1mo	$249,900	$174	63
1400 Orange Tree Dr	0.66mi	4/2.0 (+1)	1,662 (+4%)	1mo	$303,990	$183	58
1421 Orange Tree Dr	0.49mi	4/2.0 (+1)	1,477 (-8%)	3mo	$281,990	$191	57
10329 Kingspoint Blvd	0.52mi	4/2.0 (+1)	1,767 (+10%)	3mo	$299,999	$170	52
1753 Leevon Ln	0.63mi	4/2.0 (+1)	1,791 (+12%)	1mo	$317,685	$177	46
1749 Leevon Ln	0.64mi	4/2.0 (+1)	1,834 (+14%)	1mo	$322,685	$176	40
10300 Station Ln	0.71mi	4/2.0 (+1)	1,405 (-12%)	2mo	$297,685	$212	40

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 · 0.11% rent growth · sell at horizon

5-year hold

• IRR: -27.9%
• Equity multiple: 0.09×
• Total profit: $-66,193
• Equity at exit: $38,752

10-year hold

• IRR: -44.5%
• Equity multiple: -0.43×
• Total profit: $-103,865
• Equity at exit: $22,471

Cash invested: $72,772 (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 76140

• Home prices YoY: -21.8%
• Rents YoY: 0.1%
• Active inventory: 374
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $2,137 high
• Mortgage (P&I): −$1,363
• Tax from tax record: −$466 /mo · $5,594/yr
• Insurance: −$108
• HOA: −$36
• Vacancy / Maint / Mgmt: −$449
• Net cashflow: $-285

Break-even live

Break-even rent $2,498

Max offer price $209,472

Occupancy floor —

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: $64,975
• Closing costs: $7,797
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1421 Sunkiss Dr Fort Worth, TX	3.0	2.0	1604	$1,995	$1.24	2d	1	0.03mi
1417 Palamedes Dr Fort Worth, TX	4.0	2.5	2153	$2,295	$1.07	7d	1	0.03mi
1401 Sunkiss Dr Fort Worth, TX	3.0	2.0	1600	$2,095	$1.31	12d	1	0.06mi
1456 Palamedes Dr Fort Worth, TX	3.0	2.0	1316	$2,000	$1.52	4d	1	0.07mi
9632 Sierra Grande Dr Fort Worth, TX	3.0	2.0	1600	$1,895	$1.18	43d	1	0.09mi
9637 Sierra Grande Dr Fort Worth, TX	4.0	2.5	2131	$2,155	$1.01	22d	1	0.09mi
1317 Woodwinds Dr Fort Worth, TX	4.0	2.5	2131	$2,400	$1.13	12d	1	0.09mi
1329 Woodwinds Dr Fort Worth, TX	4.0	2.0	1803	$2,320	$1.29	5d	1	0.12mi
9609 Sierra Grande Dr Fort Worth, TX	4.0	2.0	1754	$2,175	$1.24	7d	1	0.15mi
1417 Woodwinds Dr Fort Worth, TX	4.0	2.5	2131	$2,370	$1.11	2d	1	0.18mi
1444 Harvester Dr Fort Worth, TX	3.0–5.0	2.0–2.5	1840	$2,080	$1.13	1d	1	0.22mi
1505 Woodwinds Dr Fort Worth, TX	4.0	2.0	1600	$2,280	$1.43	19d	1	0.22mi
1500 Four Seasons Ln Fort Worth, TX	1.0–3.0	1.0–2.0	876	$1,400	$1.60	22d	1	0.23mi
1500 Harvester Dr Fort Worth, TX	4.0	2.0	1600	$2,280	$1.43	4d	1	0.23mi
1513 Woodwinds Dr Fort Worth, TX	4.0	2.5	2131	$2,519	$1.18	24d	1	0.24mi
1508 Harvester Dr Fort Worth, TX	4.0	2.0	1724	$2,328	$1.35	7d	1	0.25mi
1313 Redpine Dr Fort Worth, TX	3.0	2.0	1316	$2,000	$1.52	3d	1	0.27mi
1540 Woodwinds Dr Fort Worth, TX	4.0	2.0	1600	$2,280	$1.43	5d	1	0.27mi
1524 Harvester Dr Fort Worth, TX	4.0	2.5	2131	$2,520	$1.18	5d	1	0.27mi
1533 Woodwinds Dr Fort Worth, TX	4.0	2.5	2131	$2,519	$1.18	43d	1	0.27mi
1300 Hazelnut Dr Fort Worth, TX	3.0	2.0	1448	$2,300	$1.59	5d	1	0.31mi
1412 Royal Meadows Trl Fort Worth, TX	3.0	2.0	1576	$1,779	$1.13	3d	1	0.36mi
9324 Cynthia Ct Fort Worth, TX	4.0	2.0	1916	$2,000	$1.04	11d	1	0.45mi
9308 Cynthia Ct Fort Worth, TX	3.0	2.0	1811	$2,200	$1.21	2d	1	0.49mi
1794 Farleigh Ct Fort Worth, TX	3.0	2.5	1440	$1,495	$1.04	7d	1	0.53mi
10213 S Race St Fort Worth, TX	4.0	2.0	1819	$1,961	$1.08	22d	1	0.54mi
1928 Alanbrooke Dr Fort Worth, TX	4.0	2.0	1765	$2,100	$1.19	43d	1	0.55mi
1824 Alanbrooke Dr Fort Worth, TX	3.0	2.0	1597	$1,940	$1.21	43d	1	0.56mi
1761 Belshire Ct Fort Worth, TX	3.0	2.5	1440	$1,495	$1.04	43d	1	0.59mi
1766 Belshire Ct Fort Worth, TX	3.0	2.5	1440	$1,450	$1.01	24d	1	0.59mi
1816 Christopher Dr Fort Worth, TX	3.0	2.0	1655	$1,905	$1.15	24d	1	0.61mi
1905 Christopher Dr Fort Worth, TX	4.0	2.0	2162	$1,950	$0.90	24d	1	0.63mi
9000 Christopher Cir Fort Worth, TX	3.0	2.0	1270	$1,745	$1.37	15d	1	0.69mi
1432 Silver Oak Ln Fort Worth, TX	4.0	3.0	1550	$2,143	$1.38	24d	1	0.75mi
9053 S Race St Unit 9086 Fort Worth, TX	3.0	2.0	1185	$1,464	$1.24	43d	1	0.75mi
9053 S Race St Unit 9110 Fort Worth, TX	2.0	2.0	1072	$1,194	$1.11	3d	1	0.75mi
9053 S Race St Unit 9086 Fort Worth, TX	3.0	2.0	1185	$1,570	$1.32	12d	1	0.75mi
9053 S Race St Unit 3121 Fort Worth, TX	3.0	2.0	1185	$809	$0.68	12d	1	0.75mi
9053 S Race St Unit 9086 Fort Worth, TX	3.0	2.0	1185	$1,421	$1.20	3d	1	0.75mi
9053 S Race St Unit 9080 Fort Worth, TX	2.0	2.0	1072	$1,272	$1.19	43d	1	0.75mi

HOA detail

• Monthly dues: $36 · $432/yr

Listing history 18 events

1. 2026-06-18
   price $259,900 Active 127 DOM
2. 2026-06-18
   days on market $264,900 Active 127 DOM
3. 2026-06-17
   days on market $264,900 Active 126 DOM
4. 2026-06-16
   days on market $264,900 Active 125 DOM
5. 2026-06-15
   days on market $264,900 Active 124 DOM
6. 2026-06-13
   days on market $264,900 Active 122 DOM
7. 2026-06-09
   days on market $264,900 Active 118 DOM
8. 2026-06-08
   days on market $264,900 Active 117 DOM
9. 2026-06-07
   days on market $264,900 Active 116 DOM
10. 2026-06-04
    days on market $264,900 Active 113 DOM
11. 2026-06-03
    days on market $264,900 Active 112 DOM
12. 2026-06-02
    days on market $264,900 Active 111 DOM
13. 2026-06-01
    days on market $264,900 Active 110 DOM
14. 2026-05-31
    days on market $264,900 Active 109 DOM
15. 2026-05-01
    price $269,900 524-char remark

    Show marketing remark (524 chars)

    This 3-bedroom, 2-bathroom home, built in 2022, offers the sleek efficiency and pristine condition of nearly new construction. The interior features a modern, open-concept layout with contemporary finishes and updated systems throughout, ensuring a completely move-in-ready experience with no updates or repairs required. With its generous bedroom count and clean architectural lines, this residence provides a fresh, turn-key foundation for a buyer seeking a low-maintenance lifestyle and the reliability of a recent build.

16. 2026-04-08
    price $274,900 524-char remark

    Show marketing remark (524 chars)

    This 3-bedroom, 2-bathroom home, built in 2022, offers the sleek efficiency and pristine condition of nearly new construction. The interior features a modern, open-concept layout with contemporary finishes and updated systems throughout, ensuring a completely move-in-ready experience with no updates or repairs required. With its generous bedroom count and clean architectural lines, this residence provides a fresh, turn-key foundation for a buyer seeking a low-maintenance lifestyle and the reliability of a recent build.

17. 2026-03-05
    price $279,900 524-char remark

    Show marketing remark (524 chars)

    This 3-bedroom, 2-bathroom home, built in 2022, offers the sleek efficiency and pristine condition of nearly new construction. The interior features a modern, open-concept layout with contemporary finishes and updated systems throughout, ensuring a completely move-in-ready experience with no updates or repairs required. With its generous bedroom count and clean architectural lines, this residence provides a fresh, turn-key foundation for a buyer seeking a low-maintenance lifestyle and the reliability of a recent build.

18. 2026-02-11
    listed $289,900 Active 524-char remark

    Show marketing remark (524 chars)

    This 3-bedroom, 2-bathroom home, built in 2022, offers the sleek efficiency and pristine condition of nearly new construction. The interior features a modern, open-concept layout with contemporary finishes and updated systems throughout, ensuring a completely move-in-ready experience with no updates or repairs required. With its generous bedroom count and clean architectural lines, this residence provides a fresh, turn-key foundation for a buyer seeking a low-maintenance lifestyle and the reliability of a recent build.

ⓘ 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: $5,594 · $466/mo
• Projected year-2 tax: $5,594 · $466/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 8/10 Severe 7 d/yr ≥110°F today · 26 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,640
• − Mortgage interest: −$14,558
• − Property taxes: −$5,594
• − Insurance: −$1,300
• − Repairs & maintenance: −$2,051
• − Management: −$2,051
• − HOA: −$432
• − Depreciation: −$7,561
• Taxable loss: −$7,907
• Est. tax savings @ 24.0%: +$1,898
• After-tax cash flow: $-1,528/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: Everman ISD
• NCES district ID: 4818810
• Math proficiency: 21% ▼ -18.00%
• Reading proficiency: 32% ▼ -4.00%
• Median HH income: $44,803
• Composite: 22.77/100
• National rank: #8027
• State rank: #691 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): 33,321
• Household income: $75,955
• Rent vs Own: 31.6% rent · 68.4% own
• Severe rent burden: 1264.0

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 0.68)
• Race & ethnicity: Hispanic / Latino 39% Black 35% White 20% Two or more races 14% Asian 3%
• Hispanic origin (detail): Mexican 36%
• Common ancestry: Scotch-Irish 2% Lithuanian 1% Slovak 1%
• Foreign-born: 18% · Canada, Vietnam, China
• Languages at home: 64% English-only · Spanish 32% Vietnamese 2% Chinese 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: ▼ -79.54%
• Current HPI: 285.9894
• Rent YoY: ▲ 0.11%
• 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

-6.9% since first listed

4 events — show timeline

• 2026-05-01 Price Changed $269,900 NTREIS
• 2026-04-08 Price Changed $274,900 NTREIS
• 2026-03-05 Price Changed $279,900 NTREIS
• 2026-02-11 Listed $289,900 NTREIS

Property tax history

+79.7%/yr

Latest (2025): $5,594 · -15.1% YoY. Source: county tax records.