7224 Greenlee St · Fort Worth, TX 76112

$160,000

3 bd · 1.0 ba · 1,244 sqft · SingleFamily public records · 83 Days on market

Built 1959 6,708 sqft lot $129/sqft · 30% below area Est $230k · 30% under

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Why this score? — see what drove the D+ 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).

• ARV discount +15.0/15.0
• Cash flow +14.4/30.0
• 1% rule +5.4/10.0
• DSCR +4.4/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Excellent opportunity awaits in the desirable McGee Subdivision! This 5-bedroom, 2-bath home offers over 1,200 square feet of functional living space, providing flexibility for families, guests, or a home office setup. Step outside to a generously sized backyard with ample room for pets, play, or future outdoor enhancements—perfect for creating your ideal outdoor retreat. The home also features durable vinyl siding for low-maintenance living. Don’t miss your chance to make this property your own—schedule your showing today before it’s gone! Sold AS-IS

Key facts

• Durable vinyl siding
• 6,708 sq ft lot
• Garage

Tags

• GENEROUSLY SIZED BACKYARD
• DURABLE VINYL SIDING

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $32 ($380/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $150k (6.0% below list) — sets the bar for market timing.
• Cap rate 6.5% 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 (-0.4%/yr); 169 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 18,938 units permitted in Tarrant County in 2024 (8,336 in 5+ unit buildings).
• This rent runs 34% of the median local income ($58k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• 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.
• 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 83 days — a 6% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 2 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

• Watch-outs: property tax is 2.8% of price; built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• 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.

Recommended offer $150,400 (6.0% below list)

Questions for the listing agent

1. It's been on market 83 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.04% ✓
• Cap rate: 6.53%
• Cash-on-cash: 0.85%
• DSCR: 1.04
• GRM: 8.0

CMA / ARV

• ARV (median comp): $229,568
• List price: $160,000
• Delta: -30.30%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7225 Van Natta Ln	0.03mi	3/1.0	1,222 (-2%)	3mo	$190,000	$155	94
2616 Carten St	0.16mi	3/2.0	1,242 (-0%)	1mo	$260,000	$209	87
7212 Norma St	0.10mi	3/2.0	1,279 (+3%)	2mo	$240,000	$188	85
7213 Greenlee St	0.04mi	3/1.0	1,374 (+10%)	4mo	$205,000	$149	77
2605 Carten St	0.21mi	3/1.5	1,147 (-8%)	2mo	$229,900	$200	74
2509 Carten St	0.23mi	3/1.5	1,350 (+8%)	4mo	$235,000	$174	69
7366 Norma St	0.25mi	3/2.0	1,134 (-9%)	3mo	$140,000	$123	67
7428 Beckwood Dr	0.42mi	3/2.0	1,322 (+6%)	0mo	$264,900	$200	66
7449 Beaty St	0.46mi	3/2.0	1,160 (-7%)	3mo	$229,000	$197	61
6928 Van Natta Ln	0.37mi	3/2.0	1,089 (-12%)	4mo	$175,000	$161	54
2725 Halbert St	0.67mi	3/2.5	1,156 (-7%)	4mo	$230,000	$199	48
2704 Friarford Rd	0.54mi	3/2.0	1,426 (+15%)	3mo	$220,000	$154	44

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: -18.8%
• Equity multiple: 0.36×
• Total profit: $-28,636
• Equity at exit: $23,857

10-year hold

• IRR: -20.5%
• Equity multiple: 0.09×
• Total profit: $-40,575
• Equity at exit: $13,834

Cash invested: $44,800 (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 76112

• Home prices YoY: -32.0%
• Rents YoY: -0.4%
• Active inventory: 169
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,657 high
• Mortgage (P&I): −$839
• Tax from tax record: −$372 /mo · $4,459/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$348
• Net cashflow: $32

Break-even live

Break-even rent $1,617

Max offer price $160,000

Occupancy floor 93%

Sensitivity live

Price	-10% $122	-5% $77	+0% $32	+5% $-14	+10% $-59
Rent	-10% $-99	-5% $-34	+0% $32	+5% $97	+10% $163
Rate	-1.0pp $112	-0.5pp $72	base $32	+0.5pp $-10	+1.0pp $-52

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2721 Janice Ln Fort Worth, TX	2.0	1.0	1016	$1,495	$1.47	44d	1	0.11mi
7461 Meadowcrest Dr Fort Worth, TX	3.0	2.0	1161	$1,845	$1.59	44d	1	0.44mi
6800 Beaty St Fort Worth, TX	3.0	2.0	1465	$1,925	$1.31	6d	1	0.62mi
7525 Kingsmill Ter Fort Worth, TX	3.0	2.0	1426	$2,095	$1.47	44d	1	0.62mi
2708 Hunter St Fort Worth, TX	2.0	1.0	987	$1,550	$1.57	25d	1	0.63mi
6617 Greenlee St Fort Worth, TX	2.0	1.0	1050	$1,499	$1.43	21d	1	0.72mi
2913 Hunter St Fort Worth, TX	2.0	1.0	1000	$1,595	$1.59	19d	1	0.73mi
6816 Church St Fort Worth, TX	3.0	1.0	1154	$1,700	$1.47	6d	1	0.84mi
2121 Handley Dr Fort Worth, TX	2.0–3.0	1.0–2.0	1085	$1,395	$1.29	2d	3	0.85mi
3121 Lumber St Fort Worth, TX	3.0	2.5	1254	$2,000	$1.59	4d	1	0.94mi
2120 Handley Dr Fort Worth, TX	1.0–3.0	1.0–2.0	931	$1,875	$2.01	3d	11	0.98mi
1937 Crooked Ln Unit A Fort Worth, TX	2.0	1.5	1273	$1,375	$1.08	44d	1	1.08mi
1505 Homedale Dr Fort Worth, TX	1.0–3.0	1.0–2.0	931	$1,575	$1.69	3d	33	1.13mi
1509 Terbet Ln Fort Worth, TX	4.0	3.0	1364	$2,500	$1.83	44d	1	1.14mi
2100 E Loop 820 Fort Worth, TX	2.0–3.0	1.0–2.0	1070	$1,690	$1.58	2d	36	1.19mi
7301 Ederville Rd Fort Worth, TX	1.0–2.0	1.0–2.0	874	$1,592	$1.82	3d	14	1.24mi
7405 Skylight Dr Fort Worth, TX	3.0	2.0	1337	$2,040	$1.53	44d	1	1.30mi
6029 Plants Ave Fort Worth, TX	3.0	2.0	1200	$1,400	$1.17	25d	1	1.42mi
1401 Morrison Dr Unit 1458 Fort Worth, TX	2.0	2.0	902	$1,207	$1.34	3d	1	1.44mi
1401 Morrison Dr Unit 1438 Fort Worth, TX	2.0	2.0	965	$1,465	$1.52	14d	1	1.44mi
2521 Putnam St Fort Worth, TX	3.0	1.5	1105	$1,750	$1.58	44d	1	1.44mi
1600 Cooks Ln Fort Worth, TX	1.0–3.0	1.0–2.0	988	$1,810	$1.83	2d	20	1.49mi

Listing history 20 events

1. 2026-06-18
   days on market $160,000 Active 83 DOM
2. 2026-06-17
   days on market $160,000 Active 82 DOM
3. 2026-06-16
   days on market $160,000 Active 81 DOM
4. 2026-06-15
   days on market $160,000 Active 80 DOM
5. 2026-06-13
   days on market $160,000 Active 78 DOM
6. 2026-06-09
   days on market $160,000 Active 74 DOM
7. 2026-06-08
   days on market $160,000 Active 73 DOM
8. 2026-06-07
   days on market $160,000 Active 72 DOM
9. 2026-06-04
   days on market $160,000 Active 69 DOM
10. 2026-06-03
    days on market $160,000 Active 68 DOM
11. 2026-06-02
    days on market $160,000 Active 67 DOM
12. 2026-06-02
    days on market $160,000 Active 66 DOM
13. 2026-05-31
    days on market $160,000 Active 65 DOM
14. 2026-03-26
    listed $160,000 Active 581-char remark

    Show marketing remark (581 chars)

    Excellent opportunity awaits in the desirable McGee Subdivision! This 5-bedroom, 2-bath home offers over 1,200 square feet of functional living space, providing flexibility for families, guests, or a home office setup. Step outside to a generously sized backyard with ample room for pets, play, or future outdoor enhancements—perfect for creating your ideal outdoor retreat. The home also features durable vinyl siding for low-maintenance living. Don’t miss your chance to make this property your own—schedule your showing today before it’s gone! Sold AS-IS

15. 2018-06-07
    soldstatus
16. 2018-06-07
    soldstatus
17. 2018-06-06
    soldstatus Sold 94-char remark

    Show marketing remark (94 chars)

    Very nice and cared for home. Vinyl siding, ceiling fans, open patio with good size back yard.

18. 2018-05-25
    status Pending 94-char remark

    Show marketing remark (94 chars)

    Very nice and cared for home. Vinyl siding, ceiling fans, open patio with good size back yard.

19. 2018-05-02
    historical Active Contingent 94-char remark

    Show marketing remark (94 chars)

    Very nice and cared for home. Vinyl siding, ceiling fans, open patio with good size back yard.

20. 2018-05-01
    listed $99,950 Active 94-char remark

    Show marketing remark (94 chars)

    Very nice and cared for home. Vinyl siding, ceiling fans, open patio with good size back yard.

ⓘ 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: $4,459 · $372/mo
• Projected year-2 tax: $4,459 · $372/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 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,883
• − Mortgage interest: −$8,962
• − Property taxes: −$4,459
• − Insurance: −$800
• − Repairs & maintenance: −$1,591
• − Management: −$1,591
• − Depreciation: −$4,655
• Taxable loss: −$2,174
• Est. tax savings @ 24.0%: +$522
• After-tax cash flow: $902/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): 44,514
• Household income: $57,724
• Rent vs Own: 51.3% rent · 48.7% own
• Severe rent burden: 3056.0

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 0.69)
• Race & ethnicity: Black 38% Hispanic / Latino 34% White 21% Two or more races 19% Asian 3%
• Hispanic origin (detail): Mexican 28% Puerto Rican 1%
• Common ancestry: Lithuanian 1% Slovak 1% Swiss 1%
• Foreign-born: 15% · Canada, Vietnam
• Languages at home: 67% English-only · Spanish 29% Other Indo-European 1% Vietnamese 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: ▼ -158.49%
• Current HPI: 336.6297
• Rent YoY: ▼ -0.43%
• 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

+60.1% since first listed

7 events — show timeline

• 2026-03-26 Listed $160,000 NTREIS
• 2018-06-07 Sold (Public Records) — Public Records
• 2018-06-07 Sold (Public Records) — Public Records
• 2018-06-06 Sold (MLS) — NTREIS
• 2018-05-25 Pending — NTREIS
• 2018-05-02 Contingent — NTREIS
• 2018-05-01 Listed $99,950 NTREIS

Property tax history

+5.8%/yr

Latest (2025): $4,459 · -2.4% YoY. Source: county tax records.