9236 Cheswick Dr

Fort Worth, TX 76123

$274,900D

3 bd · 2.0 ba · 2,262 sqft · Built 2006 · SingleFamily · Pending · 156 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,455/mo
• Mortgage (P&I): −$1,442
• Tax + insurance: −$607
• HOA: −$23
• Vac / Maint / Mgmt: −$516
• Net cashflow: $-133/mo
• Annual: $-1,592/yr
• Cap rate: 5.71%
• Cash-on-cash: -2.07%
• DSCR: 0.91
• 1% rule: 0.89%
• Cash to close: $76,972

Investor read

• This is a 3-bed/2.0-bath single-family listed at $275k.
• At list price, monthly cash flow is $-133 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $251k (8.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $245k (10.7% below list).
• It's been on market 156 days — a 12% lower offer ($242k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $242k (12.0% below list) — sets the bar for market timing.
• 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.
• 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: crime F.
• Crowley ISD (urban): math 23% / reading 32% proficiency, ranked #643 of 826 in TX (top 78%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Mary Harris El (math 27% / reading 22%, grade F, #3,052 of 4,322 statewide, top 74%, 389 students, 87% FRL) — zoned schools average 87% FRL vs 52% district-wide (35 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.1%/yr); 364 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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).
• Tarrant County population projected at +41% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 6 sale attempts since 3y ago; this cycle's ask has dropped $20k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Climate carrying-cost: moderate wind risk, 26% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.7% 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.

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 156 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• 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?
• 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?