3256 Ray Simon Dr · Fort Worth, TX 76106

$170,000

3 bd · 1.0 ba · 841 sqft · SingleFamily public records · 5 Days on market

Built 1975 Est $174k · at est.

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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).

• Cash flow +15.2/30.0
• ARV discount +8.6/15.0
• DSCR +4.7/10.0
• 1% rule +4.5/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks

?? LESS THAN 3 MILES FROM THE STOCKYARDS! ?? Welcome to this charming 1949 pier & amp; beam starter home located in the high-demand 76106 ZIP code of Fort Worth. Priced competitively at just $170,000, this property offers an incredibly rare, affordable opportunity for homeownership or a cash-flowing investment in one of the most rapidly growing cultural hubs in Texas. WHY THIS IS AN ABSOLUTE STEAL: Buying an older home usually means worrying about hidden, expensive structural issues. Not here! The current owners have already invested heavily in the most expensive & quot; invisible& quot; costs so you don& apos; t have to. Check out these massive capital upgrades completed w

Key facts

• Modern flooring
• Brand new roof
• New water heater

Tags

• BRAND NEW ROOF
• NEW WATER HEATER
• PREMIUM KITCHEN PACKAGE
• MODERN FLOORING
• ORIGINAL WOOD FLOORS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $59 ($712/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 $162k (4.5% below list).
• Recommended offer: $162k (4.5% below list) — sets the bar for 1% rule.
• Cap rate 6.7% 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: 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 (-1.0%/yr); 67 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 18,938 units permitted in Tarrant County in 2024 (8,336 in 5+ unit buildings).
• This rent runs 35% of the median local income ($55k/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

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

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 $162,301 (4.5% below list)

Questions for the listing agent

1. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 0.95% ✗
• Cap rate: 6.71%
• Cash-on-cash: 1.50%
• DSCR: 1.07
• GRM: 8.7

CMA / ARV

• ARV (on-the-fly): $174,087
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2537 Quentin Ct	0.03mi	2/1.0 (-1)	841 (0%)	20mo	$175,000	$208	77
3265 Grover Ave	0.23mi	3/1.0	928 (+10%)	18mo	$215,000	$232	57
2509 Vera Cruz St	0.14mi	2/1.0 (-1)	941 (+12%)	20mo	$138,000	$147	52
3002 Runnels St	0.42mi	2/1.0 (-1)	768 (-9%)	13mo	$139,900	$182	50
2805 Hale Ave	0.60mi	3/1.0	960 (+14%)	2mo	$199,000	$207	46
3209 Hutchinson St	0.41mi	2/1.0 (-1)	780 (-7%)	23mo	$149,900	$192	45

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: -17.5%
• Equity multiple: 0.40×
• Total profit: $-28,471
• Equity at exit: $25,348

10-year hold

• IRR: -16.8%
• Equity multiple: 0.20×
• Total profit: $-38,089
• Equity at exit: $14,698

Cash invested: $47,600 (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 76106

• Home prices YoY: -6.9%
• Rents YoY: -1.0%
• Active inventory: 67
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,623 high
• Mortgage (P&I): −$891
• Tax from tax record: −$261 /mo · $3,126/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$341
• Net cashflow: $59

Break-even live

Break-even rent $1,548

Max offer price $170,000

Occupancy floor 91%

Sensitivity live

Price	-10% $156	-5% $107	+0% $59	+5% $11	+10% $-37
Rent	-10% $-69	-5% $-5	+0% $59	+5% $123	+10% $188
Rate	-1.0pp $145	-0.5pp $103	base $59	+0.5pp $15	+1.0pp $-30

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: $42,500
• Closing costs: $5,100
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2204 Salisbury Ave Fort Worth, TX	2.0	1.0	910	$1,400	$1.54	26d	1	0.67mi
2903 Weber St Fort Worth, TX	4.0	1.0	1064	$1,695	$1.59	45d	1	0.80mi
2104 W Lotus Ave Fort Worth, TX	2.0	1.0	1039	$1,600	$1.54	8d	1	1.01mi
4301 Weber St Fort Worth, TX	2.0–3.0	1.0–2.0	1050	$1,375	$1.31	0d	11	1.41mi
1852 E Northside Dr Fort Worth, TX	2.0	2.0	1083	$2,055	$1.90	20d	1	1.45mi
601 Stockyards Blvd Fort Worth, TX	2.0	1.0–2.0	815	$2,814	$3.45	0d	61	1.49mi

Listing history 4 events

1. 2026-06-21
   days on market $170,000 Active 5 DOM
2. 2026-06-18
   days on market $170,000 Active 2 DOM
3. 2026-06-17
   remarks 683-char remark
4. 2026-06-17
   listed $170,000 Active 1 DOM

ⓘ 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: $3,126 · $261/mo
• Projected year-2 tax: $3,126 · $261/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 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,476
• − Mortgage interest: −$9,523
• − Property taxes: −$3,126
• − Insurance: −$850
• − Repairs & maintenance: −$1,558
• − Management: −$1,558
• − Depreciation: −$4,945
• Taxable loss: −$2,084
• Est. tax savings @ 24.0%: +$500
• After-tax cash flow: $1,212/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): 35,946
• Household income: $55,431
• Rent vs Own: 51.6% rent · 48.4% own
• Severe rent burden: 1539.0

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 Hispanic (80%)
• Race & ethnicity: Hispanic / Latino 80% Two or more races 30% White 9% Black 9% Asian 1%
• Hispanic origin (detail): Mexican 71%
• Common ancestry: Ukrainian 1%
• Foreign-born: 33% · Canada
• Languages at home: 30% English-only · Spanish 66% Other Indo-European 1% Arabic 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: ▼ -24.42%
• Current HPI: 329.4589
• Rent YoY: ▼ -1.02%
• 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 events — show timeline

• 2026-06-17 Listed $170,000 FSBO.com
• 2023-03-20 Sold (Public Records) — Public Records
• 2019-11-08 Sold (Public Records) — Public Records
• 1998-12-22 Sold (Public Records) — Public Records

Property tax history

+7.4%/yr

Latest (2025): $3,126 · -2.4% YoY. Source: county tax records.