1004 Cherry Cove Dr · Fort Worth, TX 76131

$354,990

4 bd · 2.0 ba · 2,086 sqft · Other · 36 Days on market

Built 2025 6,856 sqft lot $50/mo HOA · 1% of rent ↓ 4% 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 +28.1/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +6.7/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Available for a Quick Move-in!! Now selling the new phase at D. R. Horton's Rosewood at Beltmill in North Fort Worth and Eagle Mountain-Saginaw ISD! Beautiful Single Story 4 Bedroom Kingston floorplan-Elevation C. Modern open concept with spacious Living, Dining and large Chef's Kitchen in the heart of the Home with Island, Granite Countertops, Stainless Steel Appliances, Gas Range and walk-in Pantry. Luxurious main Bedroom with wide Vanity, 5 ft oversized shower and big walk-in Closet. Tiled Entry, Hallways and Wet areas, plus Home is Connected Smart Home Technology Pkg. Covered front porch, covered back Patio and 6 ft privacy fenced Backyard. Gas Tankless Water Heater, Landscape Package,

Key facts

• Walk-in closet
• Oversized shower
• Covered back patio

Tags

• CHEF'S KITCHEN
• WALK-IN PANTRY
• OVERSIZED SHOWER
• WALK-IN CLOSET
• SMART HOME TECHNOLOGY
• COVERED BACK PATIO

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath other listed at $355k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $355k).
• Recommended offer: $344k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.1% 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: schools D+, 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.
• Market conditions: Rents soft (-0.2%/yr); 471 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 43% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 18,938 units permitted in Tarrant County in 2024 (8,336 in 5+ unit buildings).
• At $4,138/mo this rent would consume 46% of the median local household income ($109k/yr) (locally 1805% 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 $11k 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 36 days — a 3% lower offer ($344k) is reasonable based on typical stale-listing flexibility.

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 $344,340 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 1.17% ✓
• Cap rate: 10.08%
• Cash-on-cash: 13.51%
• DSCR: 1.60
• GRM: 7.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 0.4%
• Equity multiple: 1.02×
• Total profit: $1,522
• Equity at exit: $52,930

10-year hold

• IRR: 7.0%
• Equity multiple: 1.46×
• Total profit: $45,760
• Equity at exit: $30,693

Cash invested: $99,397 (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 76131

• Home prices YoY: -15.6%
• Rents YoY: -0.2%
• Active inventory: 471
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $4,138 high
• Mortgage (P&I): −$1,862
• Tax from tax record: −$90 /mo · $1,083/yr
• Insurance: −$148
• HOA: −$50
• Vacancy / Maint / Mgmt: −$869
• Net cashflow: $1,119

Break-even live

Break-even rent $2,721

Max offer price $354,990

Occupancy floor 68%

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: $88,748
• Closing costs: $10,650
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
500 Throckmorton St Fort Worth, TX	1.0–4.0	1.0–4.5	2681	$20,000	$7.46	6d	3	0.32mi
700 W Vickery Blvd Fort Worth, TX	3.0	1.0–3.5	1294	$5,399	$4.17	1d	119	0.37mi
969 Commerce St Unit 8088 Fort Worth, TX	3.0	2.0	2900	$10,940	$3.77	44d	1	0.46mi
969 Commerce St Fort Worth, TX	1.0–3.0	1.0–3.0	1425	$8,849	$6.21	1d	68	0.46mi
916 W Peach St Fort Worth, TX	3.0	3.5	2231	$5,200	$2.33	44d	1	0.59mi
600 Harrold St Unit 611 Fort Worth, TX	3.0	2.0	1506	$2,602	$1.73	3d	1	0.87mi
600 Harrold St Fort Worth, TX	3.0	4.0	2792	$4,165	$1.49	22d	1	0.90mi
600 Harrold St Fort Worth, TX	3.0	4.0	2792	$4,165	$1.49	17d	1	0.90mi
501 Samuels Ave #230 Fort Worth, TX	3.0	3.0	2716	$5,250	$1.93	44d	1	1.03mi
520 Samuels Ave Fort Worth, TX	3.0	1.0–2.0	1073	$2,390	$2.23	2d	19	1.09mi
2601 W 7th St Fort Worth, TX	1.0–3.0	1.0–2.0	1177	$2,479	$2.11	3d	29	1.15mi
1208 W Magnolia Ave Fort Worth, TX	4.0	2.0	1967	$1,800	$0.92	44d	1	1.27mi
921 E Hattie St Unit 1301587P Fort Worth, TX	3.0	3.0	1517	$4,701	$3.10	15d	1	1.30mi
2801 Weisenberger St Fort Worth, TX	3.0	4.0	2053	$3,395	$1.65	44d	1	1.37mi
769 Samuels Ave Fort Worth, TX	1.0–3.0	1.0–3.0	1113	$2,708	$2.43	3d	27	1.37mi
1032 E Tucker St Fort Worth, TX	3.0	2.0	1796	$2,100	$1.17	15d	1	1.38mi
2805 Weisenberger St #502 Fort Worth, TX	3.0	3.5	2024	$3,250	$1.61	44d	1	1.38mi
2815 Merrimac St Fort Worth, TX	3.0	2.5	2254	$3,200	$1.42	44d	1	1.38mi
929 Norwood St Fort Worth, TX	3.0	1.0–2.0	1048	$2,595	$2.48	2d	78	1.45mi
2234 Irwin St Fort Worth, TX	3.0	2.5	1670	$2,000	$1.20	44d	1	1.49mi
2236 Irwin St Fort Worth, TX	3.0	2.5	1670	$2,000	$1.20	44d	1	1.50mi

HOA detail

• Monthly dues: $50 · $600/yr
• Likely covers: watergas

Listing history 4 events

1. 2026-04-01
   status Pending
2. 2026-03-19
   price $354,990
3. 2026-03-02
   price $359,990
4. 2026-02-24
   listed $370,685 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: $1,083 · $90/mo
• Projected year-2 tax: $6,496 · $541/mo
• Expected delta: +$5,414/yr (+$451/mo · 500.1%)

ⓘ 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 8/10 Severe 7 d/yr ≥109°F today · 23 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 21% 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: $49,658
• − Mortgage interest: −$19,885
• − Property taxes: −$1,083
• − Insurance: −$1,775
• − Repairs & maintenance: −$3,973
• − Management: −$3,973
• − HOA: −$600
• − Depreciation: −$10,327
• Taxable income: $8,043
• Est. tax owed @ 24.0%: −$1,930
• After-tax cash flow: $11,503/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): 56,322
• Household income: $108,694
• Rent vs Own: 26.7% rent · 73.3% own
• Severe rent burden: 1805.0

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: Highly diverse neighborhood (Simpson 0.71)
• Race & ethnicity: White 42% Hispanic / Latino 27% Black 14% Two or more races 12% Asian 12%
• Hispanic origin (detail): Mexican 19% Puerto Rican 4%
• Common ancestry: Lithuanian 1% Slovak 1% Iranian 1%
• Foreign-born: 16% · Canada, Vietnam, India
• Languages at home: 67% English-only · Spanish 18% Other Indo-European 6% Vietnamese 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: ▼ -46.06%
• Current HPI: 249.22
• Rent YoY: ▼ -0.17%
• 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

-4.2% since first listed

4 events — show timeline

• 2026-04-01 Pending — NTREIS
• 2026-03-19 Price Changed $354,990 NTREIS
• 2026-03-02 Price Changed $359,990 NTREIS
• 2026-02-24 Listed $370,685 NTREIS