2224 Brigadoon Ct

Arlington, TX 76013

$170,000D

2 bd · 1.0 ba · 1,243 sqft · Built 1975 · Townhouse · Pending · 150 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,473/mo
• Mortgage (P&I): −$891
• Tax + insurance: −$372
• HOA: −$0
• Vac / Maint / Mgmt: −$309
• Net cashflow: $-100/mo
• Annual: $-1,197/yr
• Cap rate: 5.59%
• Cash-on-cash: -2.51%
• DSCR: 0.89
• 1% rule: 0.87%
• Cash to close: $47,600

Investor read

• This is a 2-bed/1.0-bath townhouse listed at $170k.
• At list price, monthly cash flow is $-100 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $152k (10.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $147k (13.4% below list).
• It's been on market 150 days — a 12% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $147k (13.4% below list) — sets the bar for 1% rule.
• 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.
• Location reads 78/100 on livability (#75 in TX, #2,697 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, housing A+; Watch: crime F, commute F.
• Arlington ISD (urban): math 24% / reading 34% proficiency, ranked #629 of 826 in TX (top 76%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Dunn El (math 20% / reading 26%, grade F, #3,277 of 4,322 statewide, top 77%, 607 students, 72% FRL); Bailey J H (math 26% / reading 40%, grade F, #930 of 1,662 statewide, top 57%, 762 students, 66% FRL); Arlington H S (math 24% / reading 48%, grade F, #930 of 1,632 statewide, top 57%, 2,538 students, 67% FRL).
• Market conditions: Rents soft (-0.1%/yr); 148 active listings in the ZIP; 36 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).
• Tarrant County population projected at +41% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts since 21y ago; this cycle's ask has dropped $30k (15%) 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; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.6% vs local median 3.6% in Arlington — 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 150 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
• Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?