4926 Flamingo Rd · Fort Worth, TX 76119

$448,000

8 bd · 4.0 ba · 3,120 sqft · MultiFamily public records · 24 Days on market

Built 1986 9,060 sqft lot Est $474k · 6% under

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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 +22.6/30.0
• ARV discount +10.0/15.0
• DSCR +7.2/10.0
• 1% rule +6.4/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• 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: 4 units. confirmed

Listing remarks MLS

This exceptional quadruplex is a standout investment opportunity and a valuable addition to any portfolio. The property features four separate units, each offering 2 bedrooms, 1 full bath, and 1 half bath, providing strong rental appeal and long-term income potential. Each unit spans approximately 780 sq. ft., with current rents at $1,120 per month and projected market rents averaging around $1,400 per month, creating immediate upside for investors. Conveniently located near public transportation, shopping, and dining, the property attracts tenants seeking both comfort and convenience. Approved for Section 8 and professionally managed by an experienced property management company with excellent tenant relationships, this investment offers a smooth, hassle-free ownership experience. Investors can benefit from steady cash flow, future rent growth, and long-term appreciation potential. Don’t miss the opportunity to add this thriving income-producing property to your investment portfolio!

Key facts

• Four separate units
• Shopping
• Conveniently located

Tags

• FOUR SEPARATE UNITS
• STRONG RENTAL APPEAL
• LONG TERM INCOME POTENTIAL
• CONVENIENTLY LOCATED
• PUBLIC TRANSPORTATION
• SHOPPING

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.5-bath units multifamily listed at $448k.

Deal economics

• At list price, monthly cash flow is $759 ($9k/yr) — positive. Per door: $190/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $448k).
• Recommended offer: $441k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.3% 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 (-1.6%/yr); 187 active listings in the ZIP; 18,938 units permitted in Tarrant County in 2024 (8,336 in 5+ unit buildings).
• At $5,099/mo this rent would consume 119% of the median local household income ($51k/yr) (locally 2221% 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 $3k of loan paydown is wiped out by about $13k 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 24 days — a 2% lower offer ($441k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 8y 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

• Climate carrying-cost: moderate wind risk, 26% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $441,280 (1.5% below list)

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. 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 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: 1.14% ✓
• Cap rate: 8.33%
• Cash-on-cash: 7.26%
• DSCR: 1.32
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $474,240
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4927 Miller Ave	0.04mi	8/6.0	3,120 (0%)	10mo	$451,000	$145	82
4935 Miller Ave	0.04mi	8/12.0	3,120 (0%)	22mo	$475,000	$152	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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -8.7%
• Equity multiple: 0.69×
• Total profit: $-38,998
• Equity at exit: $66,798

10-year hold

• IRR: -4.0%
• Equity multiple: 0.77×
• Total profit: $-28,697
• Equity at exit: $38,735

Cash invested: $125,440 (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 76119

• Home prices YoY: -6.4%
• Rents YoY: -1.6%
• Active inventory: 187
• Price-to-rent: 29.3×

Monthly cashflow live

• Estimated rent: $5,099 high
• Mortgage (P&I): −$2,349
• Tax from tax record: −$733 /mo · $8,795/yr
• Insurance: −$187
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,071
• Net cashflow: $759

Break-even live

Break-even rent $4,138

Max offer price $448,000

Occupancy floor 80%

Sensitivity live

Price	-10% $1,013	-5% $886	+0% $759	+5% $632	+10% $506
Rent	-10% $356	-5% $558	+0% $759	+5% $961	+10% $1,162
Rate	-1.0pp $985	-0.5pp $873	base $759	+0.5pp $643	+1.0pp $525

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1.5	$5,100
Total (4 units)			$5,099

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: $112,000
• Closing costs: $13,440
• Reserves months: —
• Total cash needed: —

Listing history 42 events

1. 2026-06-21
   days on market $448,000 Active 24 DOM
2. 2026-06-18
   days on market $448,000 Active 21 DOM
3. 2026-06-17
   days on market $448,000 Active 20 DOM
4. 2026-06-16
   days on market $448,000 Active 19 DOM
5. 2026-06-15
   days on market $448,000 Active 18 DOM
6. 2026-06-13
   days on market $448,000 Active 16 DOM
7. 2026-06-09
   days on market $448,000 Active 12 DOM
8. 2026-06-08
   days on market $448,000 Active 11 DOM
9. 2026-06-07
   days on market $448,000 Active 10 DOM
10. 2026-06-04
    days on market $448,000 Active 7 DOM
11. 2026-06-03
    days on market $448,000 Active 6 DOM
12. 2026-06-02
    days on market $448,000 Active 5 DOM
13. 2026-06-01
    days on market $448,000 Active 4 DOM
14. 2026-05-31
    days on market $448,000 Active 3 DOM
15. 2026-05-28
    listed $448,000 Active 1014-char remark

    Show marketing remark (1014 chars)

    This exceptional quadruplex is a standout investment opportunity and a valuable addition to any portfolio. The property features four separate units, each offering 2 bedrooms, 1 full bath, and 1 half bath, providing strong rental appeal and long-term income potential. Each unit spans approximately 780 sq. ft., with current rents at $1,120 per month and projected market rents averaging around $1,400 per month, creating immediate upside for investors. Conveniently located near public transportation, shopping, and dining, the property attracts tenants seeking both comfort and convenience. Approved for Section 8 and professionally managed by an experienced property management company with excellent tenant relationships, this investment offers a smooth, hassle-free ownership experience. Investors can benefit from steady cash flow, future rent growth, and long-term appreciation potential. Don’t miss the opportunity to add this thriving income-producing property to your investment portfolio!

16. 2024-12-17
    soldstatus
17. 2024-04-22
    soldstatus
18. 2024-04-18
    soldstatus Closed 977-char remark

    Show marketing remark (977 chars)

    Ready to negotiate! A valuable asset for any portfolio, this quadruplex investment opportunity is exceptional. Consisting of four distinct units, each featuring two bedrooms, one full bath, and one half bath, it boasts versatility and potential. With approximately 780 sqft per unit, current rents stand at $1,120, with the average market value expected to increase to approximately $1,400 per month. Ideally situated near public transportation, shopping, and dining options, it caters to tenants seeking both comfort and convenience. Investors can anticipate long-term capital appreciation, with the option to gradually increase rents, ensuring a stable and profitable investment for years to come. Approved for Section 8 and professionally managed by a property management company with excellent tenant relationships, this quadruplex offers a hassle-free investment opportunity. Don't miss out on the chance to enrich your portfolio with these thriving quadruplex properties!

19. 2024-04-01
    status Pending 977-char remark

    Show marketing remark (977 chars)

    Ready to negotiate! A valuable asset for any portfolio, this quadruplex investment opportunity is exceptional. Consisting of four distinct units, each featuring two bedrooms, one full bath, and one half bath, it boasts versatility and potential. With approximately 780 sqft per unit, current rents stand at $1,120, with the average market value expected to increase to approximately $1,400 per month. Ideally situated near public transportation, shopping, and dining options, it caters to tenants seeking both comfort and convenience. Investors can anticipate long-term capital appreciation, with the option to gradually increase rents, ensuring a stable and profitable investment for years to come. Approved for Section 8 and professionally managed by a property management company with excellent tenant relationships, this quadruplex offers a hassle-free investment opportunity. Don't miss out on the chance to enrich your portfolio with these thriving quadruplex properties!

20. 2024-03-11
    price $487,000 977-char remark

    Show marketing remark (977 chars)

    Ready to negotiate! A valuable asset for any portfolio, this quadruplex investment opportunity is exceptional. Consisting of four distinct units, each featuring two bedrooms, one full bath, and one half bath, it boasts versatility and potential. With approximately 780 sqft per unit, current rents stand at $1,120, with the average market value expected to increase to approximately $1,400 per month. Ideally situated near public transportation, shopping, and dining options, it caters to tenants seeking both comfort and convenience. Investors can anticipate long-term capital appreciation, with the option to gradually increase rents, ensuring a stable and profitable investment for years to come. Approved for Section 8 and professionally managed by a property management company with excellent tenant relationships, this quadruplex offers a hassle-free investment opportunity. Don't miss out on the chance to enrich your portfolio with these thriving quadruplex properties!

21. 2024-03-07
    price $492,000 977-char remark

    Show marketing remark (977 chars)

    Ready to negotiate! A valuable asset for any portfolio, this quadruplex investment opportunity is exceptional. Consisting of four distinct units, each featuring two bedrooms, one full bath, and one half bath, it boasts versatility and potential. With approximately 780 sqft per unit, current rents stand at $1,120, with the average market value expected to increase to approximately $1,400 per month. Ideally situated near public transportation, shopping, and dining options, it caters to tenants seeking both comfort and convenience. Investors can anticipate long-term capital appreciation, with the option to gradually increase rents, ensuring a stable and profitable investment for years to come. Approved for Section 8 and professionally managed by a property management company with excellent tenant relationships, this quadruplex offers a hassle-free investment opportunity. Don't miss out on the chance to enrich your portfolio with these thriving quadruplex properties!

22. 2024-02-21
    price $495,000 977-char remark

    Show marketing remark (977 chars)

    Ready to negotiate! A valuable asset for any portfolio, this quadruplex investment opportunity is exceptional. Consisting of four distinct units, each featuring two bedrooms, one full bath, and one half bath, it boasts versatility and potential. With approximately 780 sqft per unit, current rents stand at $1,120, with the average market value expected to increase to approximately $1,400 per month. Ideally situated near public transportation, shopping, and dining options, it caters to tenants seeking both comfort and convenience. Investors can anticipate long-term capital appreciation, with the option to gradually increase rents, ensuring a stable and profitable investment for years to come. Approved for Section 8 and professionally managed by a property management company with excellent tenant relationships, this quadruplex offers a hassle-free investment opportunity. Don't miss out on the chance to enrich your portfolio with these thriving quadruplex properties!

23. 2024-01-16
    listed $525,000 Active 977-char remark

    Show marketing remark (977 chars)

    Ready to negotiate! A valuable asset for any portfolio, this quadruplex investment opportunity is exceptional. Consisting of four distinct units, each featuring two bedrooms, one full bath, and one half bath, it boasts versatility and potential. With approximately 780 sqft per unit, current rents stand at $1,120, with the average market value expected to increase to approximately $1,400 per month. Ideally situated near public transportation, shopping, and dining options, it caters to tenants seeking both comfort and convenience. Investors can anticipate long-term capital appreciation, with the option to gradually increase rents, ensuring a stable and profitable investment for years to come. Approved for Section 8 and professionally managed by a property management company with excellent tenant relationships, this quadruplex offers a hassle-free investment opportunity. Don't miss out on the chance to enrich your portfolio with these thriving quadruplex properties!

24. 2023-07-28
    soldstatus Closed
25. 2023-07-28
    soldstatus $1,600,000
26. 2023-07-07
    status Pending
27. 2023-06-22
    historical Active Option Contract
28. 2023-06-08
    status Active
29. 2023-05-30
    historical Active Option Contract
30. 2023-05-18
    price $425,000
31. 2023-04-19
    price $449,000
32. 2023-03-31
    listed $485,000 Active
33. 2021-04-01
    soldstatus
34. 2018-07-20
    soldstatus Sold
35. 2018-07-12
    listed $300,000
36. 2018-07-12
    historical
37. 2018-03-12
    soldstatus
38. 2008-03-14
    soldstatus
39. 2007-04-20
    soldstatus
40. 2001-12-29
    soldstatus
41. 1996-10-24
    soldstatus
42. 1994-06-23
    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: $8,795 · $733/mo
• Projected year-2 tax: $8,795 · $733/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 ≥110°F today · 23 d/yr by 30 yrs out
• 💨 Wind 5/10 Major 26% 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: $61,188
• − Mortgage interest: −$25,095
• − Property taxes: −$8,795
• − Insurance: −$2,240
• − Repairs & maintenance: −$4,895
• − Management: −$4,895
• − Depreciation: −$13,033
• Taxable income: $2,235
• Est. tax owed @ 24.0%: −$536
• After-tax cash flow: $8,575/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): 52,974
• Household income: $51,267
• Rent vs Own: 45.3% rent · 54.7% own
• Severe rent burden: 2221.0

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 0.60)
• Race & ethnicity: Hispanic / Latino 51% Black 36% Two or more races 26% White 8% Asian 3%
• Hispanic origin (detail): Mexican 44%
• Foreign-born: 25% · Canada, Philippines
• Languages at home: 54% English-only · Spanish 42% Other Indo-European 2% Other Asian/Pacific 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: ▼ -23.04%
• Current HPI: 336.7941
• Rent YoY: ▼ -1.61%
• 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

+49.3% since first listed

28 events — show timeline

• 2026-05-28 Listed $448,000 NTREIS
• 2024-12-17 Sold (Public Records) — Public Records
• 2024-04-22 Sold (Public Records) — Public Records
• 2024-04-18 Sold (MLS) — NTREIS
• 2024-04-01 Pending — NTREIS
• 2024-03-11 Price Changed $487,000 NTREIS
• 2024-03-07 Price Changed $492,000 NTREIS
• 2024-02-21 Price Changed $495,000 NTREIS
• 2024-01-16 Listed $525,000 NTREIS
• 2023-07-28 Sold (Public Records) $1,600,000 Public Records
• 2023-07-28 Sold (MLS) — NTREIS
• 2023-07-07 Pending — NTREIS
• 2023-06-22 Contingent — NTREIS
• 2023-06-08 Relisted — NTREIS
• 2023-05-30 Contingent — NTREIS
• 2023-05-18 Price Changed $425,000 NTREIS
• 2023-04-19 Price Changed $449,000 NTREIS
• 2023-03-31 Listed $485,000 NTREIS
• 2021-04-01 Sold (Public Records) — Public Records
• 2018-07-20 Sold (MLS) — NTREIS
• 2018-07-12 Listing Removed — NTREIS
• 2018-07-12 Listed $300,000 NTREIS
• 2018-03-12 Sold (Public Records) — Public Records
• 2008-03-14 Sold (Public Records) — Public Records
• 2007-04-20 Sold (Public Records) — Public Records
• 2001-12-29 Sold (Public Records) — Public Records
• 1996-10-24 Sold (Public Records) — Public Records
• 1994-06-23 Sold (Public Records) — Public Records

Property tax history

+7.0%/yr

Latest (2025): $8,795 · -2.4% YoY. Source: county tax records.