6042 Stoneybrook Dr

Fort Worth, TX 76112

$95,000C-

3 bd · 2.0 ba · 1,110 sqft · Built 1984 · Condo · Active · 407 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,389/mo
• Mortgage (P&I): −$498
• Tax + insurance: −$242
• HOA: −$375
• Vac / Maint / Mgmt: −$292
• Net cashflow: $-18/mo
• Annual: $-220/yr
• Cap rate: 6.06%
• Cash-on-cash: -0.83%
• DSCR: 0.96
• 1% rule: 1.46%
• Cash to close: $26,600

Investor read

• This is a 3-bed/2.0-bath condo listed at $95k.
• At list price, monthly cash flow is $-18 ($-220/yr) — negative.
• To cash-flow at today's rent, offer at most $92k (3.4% below list).
• Meets the 1% rule at list price ($1k rent vs $95k).
• It's been on market 407 days — a 12% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $84k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $657 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• 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.
• Watch-outs: property tax is 2.6% of price; HOA is 27% of rent.
• Market conditions: Rents soft (-0.4%/yr); 169 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 18,938 units permitted in Tarrant County in 2024 (8,336 in 5+ unit buildings).
• Tarrant County population projected at +41% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 9 sale attempts since 21y ago; this cycle's ask has dropped $29k (23%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Climate carrying-cost: major wind risk, 27% 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.
• Cap rate 6.1% 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.

Questions for listing agent

• 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?
• It's been on market 407 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?