111 W Morning Dove Dr · Azle, TX 76020

$105,000

2 bd · 1.0 ba · 900 sqft · SingleFamily public records · 79 Days on market

Built 2016 7,623 sqft lot

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Why this score? — see what drove the B- 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 +27.4/30.0
• DSCR +9.6/10.0
• 1% rule +8.7/10.0
• ARV discount +7.5/15.0
• Schools +3.6/10.0
• Livability +3.6/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This quaint home is just waiting for someone like you to take care of it! HUD owned property. Built in 2016, this one story has two spacious bedrooms, a living and dining room. Only a short commute to Azle and Eagle Mountain Lake, you will love the peacefulness and convenience. It was found to have cut electrical wires during an inspection. The seller is selling this property in As Is condition. Seller nor its representatives make any representations or warranties regarding the property. Buyers verify all info. HUD Case #513-279909. The FHA Financing for this property is UI

Key facts

• 7,623 sq ft lot
• Built 2016
• Listed 79 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $308 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).
• Recommended offer: $99k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.8% vs local median 3.1% in Azle — 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 72/100 on livability (#267 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment A; Watch: health & safety D+, amenities F, commute F.
• Azle ISD (suburban): math 37% / reading 43% proficiency, ranked #351 of 826 in TX (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Silver Creek El (math 37% / reading 42%, grade F, #1,545 of 4,322 statewide, top 38%, 509 students, 42% FRL); Azle J H South (math 31% / reading 41%, grade F, #805 of 1,662 statewide, top 50%, 584 students, 43% FRL); Azle H S (math 41% / reading 50%, grade D-, #634 of 1,632 statewide, top 39%, 2,054 students, 44% FRL) — zoned schools at 43% FRL track the district average.
• Market conditions: Rents rising (+2.3%/yr); 594 active listings in the ZIP; solid renter incomes; 437 units permitted in Parker County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $726 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Parker County population projected at +32% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 2.3% rent growth), your $29k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 79 days — a 6% lower offer ($99k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 9y ago; this cycle's ask has dropped $55k (34%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price.
• Climate carrying-cost: major wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $98,700 (6.0% below list)

Questions for the listing agent

1. It's been on market 79 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.37% ✓
• Cap rate: 9.82%
• Cash-on-cash: 12.58%
• DSCR: 1.56
• GRM: 6.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.31% rent growth · sell at horizon

5-year hold

• IRR: 1.5%
• Equity multiple: 1.06×
• Total profit: $1,707
• Equity at exit: $15,656

10-year hold

• IRR: 10.4%
• Equity multiple: 1.79×
• Total profit: $23,091
• Equity at exit: $9,078

Cash invested: $29,400 (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 76020

• Home prices YoY: -20.6%
• Rents YoY: 2.3%
• Active inventory: 594
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,439 medium
• Mortgage (P&I): −$551
• Tax from tax record: −$234 /mo · $2,807/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$302
• Net cashflow: $308

Break-even live

Break-even rent $1,049

Max offer price $105,000

Occupancy floor 74%

Sensitivity live

Price	-10% $368	-5% $338	+0% $308	+5% $278	+10% $249
Rent	-10% $195	-5% $251	+0% $308	+5% $365	+10% $422
Rate	-1.0pp $361	-0.5pp $335	base $308	+0.5pp $281	+1.0pp $253

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-04-13
   status Pending
2. 2026-04-07
   price $105,000
3. 2026-02-27
   price $128,000
4. 2026-02-13
   status Active
5. 2025-12-09
   status Pending
6. 2025-11-19
   listed $160,000 Active
7. 2025-07-10
   historical
8. 2025-03-20
   price $188,000
9. 2025-02-05
   price $191,000
10. 2025-01-10
    listed $195,000 Active
11. 2024-02-20
    soldstatus
12. 2024-02-15
    soldstatus Closed
13. 2024-01-24
    status Pending
14. 2024-01-24
    listed $179,000 Active
15. 2017-06-14
    status Pending
16. 2017-06-14
    soldstatus Sold
17. 2017-06-03
    listed $10,000 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: $2,807 · $234/mo
• Projected year-2 tax: $2,807 · $234/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 6/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 21 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 24% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,264
• − Mortgage interest: −$5,882
• − Property taxes: −$2,807
• − Insurance: −$525
• − Repairs & maintenance: −$1,381
• − Management: −$1,381
• − Depreciation: −$3,055
• Taxable income: $2,233
• Est. tax owed @ 24.0%: −$536
• After-tax cash flow: $3,162/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: Azle ISD
• NCES district ID: 4809200
• Math proficiency: 37% ▼ -11.00%
• Reading proficiency: 43% ▼ -5.00%
• Median HH income: $61,473
• Composite: 35.57/100
• National rank: #4900
• State rank: #351 of 826 in TX

Livability — Azle

• Score: 72/100
• State rank: #267
• US rank: #6239

Category grades

Amenities F Commute F Cost of living A+ Crime B- Employment A Housing A+ Health & safety D+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Parker County · 144,797 people
• City population: 34,602
• Metro: Dallas-Fort Worth-Arlington, TX
• Population (ZIP): 34,602
• Household income: $87,298
• Rent vs Own: 22.3% rent · 77.7% own
• Severe rent burden: 433.0

Population outlook (Parker County) Hauer SSP2

• Today (2025): 147,426 people
• By 2030: 157,863 · +7.1%
• By 2040: 177,519 · +20.4%
• By 2050: 194,786 · +32.1%
• By 2075: 238,799 · +62.0%
• By 2100: 264,126 · +79.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Hispanic / Latino 18% Two or more races 9% Black 1%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Slovak 2% Italian 1% Portuguese 1%
• Foreign-born: 5% · Canada
• Languages at home: 89% English-only · Spanish 11%

Political lean MEDSL · Parker

• 2024 margin: Solid R (+66.4) · D 16.4% · R 82.8%
• 2008→2024 swing: -11.2pp toward R · 2008: -55.2pp · 2024: -66.4pp
• All cycles: 2024: R+66.4 2020: R+64.4 2016: R+67.5 2012: R+65.8 2008: R+55.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -74.72%
• Current HPI: 287.155
• Rent YoY: ▲ 2.31%
• 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

+950.0% since first listed

17 events — show timeline

• 2026-04-13 Pending — NTREIS
• 2026-04-07 Price Changed $105,000 NTREIS
• 2026-02-27 Price Changed $128,000 NTREIS
• 2026-02-13 Relisted — NTREIS
• 2025-12-09 Pending — NTREIS
• 2025-11-19 Listed $160,000 NTREIS
• 2025-07-10 Listing Removed — NTREIS
• 2025-03-20 Price Changed $188,000 NTREIS
• 2025-02-05 Price Changed $191,000 NTREIS
• 2025-01-10 Listed $195,000 NTREIS
• 2024-02-20 Sold (Public Records) — Public Records
• 2024-02-15 Sold (MLS) — NTREIS
• 2024-01-24 Pending — NTREIS
• 2024-01-24 Listed $179,000 NTREIS
• 2017-06-14 Pending — NTREIS
• 2017-06-14 Sold (MLS) — NTREIS
• 2017-06-03 Listed $10,000 NTREIS

Property tax history

+24.1%/yr

Latest (2025): $2,807 · -6.5% YoY. Source: county tax records.