3905 London Ln · Richland Hills, TX 76118

$200,000

3 bd · 2.0 ba · 1,512 sqft · SingleFamily public records · 103 Days on market

Built 1953 0.32 ac lot $132/sqft · 33% below area Est $297k · 33% under ↓ 20% since listing

---

Why this score? — see what drove the C 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 +17.7/30.0
• ARV discount +15.0/15.0
• 1% rule +5.6/10.0
• DSCR +5.6/10.0
• Schools +3.7/10.0
• Livability +3.5/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This is a great first time buyer home. Located just minutes from Fort Worth and Dallas. Plenty of shopping, eateries, and entertainment for everyone.

Key facts

• 0.32 acre lot
• 2 garage spots
• Built 1953

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $163 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Recommended offer: $182k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.3% vs local median 3.7% in Richland Hills — 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 69/100 on livability (#410 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B; Watch: schools D-, amenities F, commute F.
• Birdville ISD (suburban): math 42% / reading 43% proficiency, ranked #299 of 826 in TX (top 36%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+1.3%/yr); 80 active listings in the ZIP; 38 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 18,938 units permitted in Tarrant County in 2024 (8,336 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 103 days — a 9% lower offer ($182k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts; this cycle's ask has dropped $50k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $182,000 (9.0% below list)

Questions for the listing agent

1. It's been on market 103 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1953 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
6. 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.
7. 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.
8. 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: 1.06% ✓
• Cap rate: 7.27%
• Cash-on-cash: 3.49%
• DSCR: 1.16
• GRM: 7.9

CMA / ARV

• ARV (median comp): $296,581
• List price: $200,000
• Delta: -32.56%
• 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
3624 Ruth Rd	0.38mi	3/1.5	1,501 (-1%)	6mo	$150,000	$100	74
4305 Cummings Dr	0.43mi	3/2.0	1,598 (+6%)	2mo	$340,000	$213	69
3629 Jonette Dr	0.61mi	4/2.0 (+1)	1,520 (+0%)	0mo	$339,900	$224	66
4221 Vance Rd	0.64mi	3/2.0	1,479 (-2%)	1mo	$290,000	$196	65
4309 Ken Michael Ct	0.53mi	4/2.0 (+1)	1,489 (-2%)	4mo	$299,990	$201	65
3800 Oxley Dr	0.44mi	3/2.0	1,364 (-10%)	2mo	$309,999	$227	62
4325 Henderson Ave	0.50mi	3/2.5	1,656 (+10%)	3mo	$429,000	$259	56
4336 Ken Michael Ct	0.63mi	3/2.0	1,619 (+7%)	4mo	$195,000	$120	55
7624 Oxley Dr	0.60mi	3/2.0	1,347 (-11%)	1mo	$299,000	$222	53
4209 Ashmore Dr	0.69mi	3/2.0	1,624 (+7%)	4mo	$340,000	$209	52
3600 Landy Ln	0.63mi	3/2.5	1,652 (+9%)	4mo	$269,900	$163	50
4328 Mackey Dr	0.71mi	3/2.0	1,343 (-11%)	2mo	$243,500	$181	46

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 · 1.28% rent growth · sell at horizon

5-year hold

• IRR: -12.9%
• Equity multiple: 0.54×
• Total profit: $-25,524
• Equity at exit: $29,821

10-year hold

• IRR: -6.9%
• Equity multiple: 0.59×
• Total profit: $-22,687
• Equity at exit: $17,292

Cash invested: $56,000 (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 76118

• Home prices YoY: -15.9%
• Rents YoY: 1.3%
• Active inventory: 80
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $2,114 high
• Mortgage (P&I): −$1,049
• Tax from tax record: −$375 /mo · $4,505/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$444
• Net cashflow: $163

Break-even live

Break-even rent $1,908

Max offer price $200,000

Occupancy floor 87%

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 38 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4201 City Pt W North Richland Hills, TX	1.0–2.0	1.0–2.0	882	$2,015	$2.28	2d	34	0.21mi
4421 Florence Ave North Richland Hills, TX	1.0–3.0	1.0–3.0	1302	$2,977	$2.29	4d	25	0.37mi
4532 Tripp St North Richland Hills, TX	3.0	2.5	1703	$2,400	$1.41	22d	1	0.51mi
4348 Henderson Ave North Richland Hills, TX	3.0	2.5	1650	$2,499	$1.51	8d	1	0.52mi
4500 Ward St North Richland Hills, TX	3.0	2.5	1649	$2,599	$1.58	25d	1	0.54mi
4512 Ward St North Richland Hills, TX	3.0	2.5	1640	$2,500	$1.52	25d	1	0.54mi
4513 Bishop St North Richland Hills, TX	3.0	2.5	1678	$2,700	$1.61	44d	1	0.56mi
4525 Bishop St North Richland Hills, TX	3.0	2.5	1988	$2,695	$1.36	8d	1	0.56mi
4300 Mackey Dr North Richland Hills, TX	3.0	2.0	1964	$2,200	$1.12	44d	1	0.69mi
4300 Mackey Dr Unit N North Richland Hills, TX	3.0	2.0	1964	$2,200	$1.12	20d	1	0.69mi
4315 Mackey Dr North Richland Hills, TX	3.0	1.5	1421	$1,995	$1.40	44d	1	0.73mi
575 NE Loop 820 Hurst, TX	1.0–3.0	1.0–2.0	994	$2,326	$2.34	2d	23	0.82mi
3424 Chaffin Dr Richland Hills, TX	3.0	2.0	2024	$2,116	$1.05	2d	1	0.83mi
4401 Glenview Ct North Richland Hills, TX	1.0–2.0	1.0–2.0	1008	$1,629	$1.62	3d	25	0.89mi
7600 Bridges Ave Unit A Richland Hills, TX	2.0	1.5	1488	$1,700	$1.14	44d	1	0.98mi
5012 Winder Ct Unit A North Richland Hills, TX	2.0	2.0	1136	$1,400	$1.23	5d	1	1.00mi
1340 Kathryn St Hurst, TX	4.0	2.0	1920	$2,400	$1.25	44d	1	1.04mi
4205 Rufe Snow Dr North Richland Hills, TX	1.0–3.0	1.0–2.0	897	$2,100	$2.34	2d	9	1.04mi
5025 Winder Ct Unit C North Richland Hills, TX	3.0	2.0	1163	$1,900	$1.63	25d	1	1.05mi
5033 Winder Ct Unit C North Richland Hills, TX	3.0	2.0	1457	$1,670	$1.15	8d	1	1.08mi
6525 Glenview Dr North Richland Hills, TX	1.0–3.0	1.0–2.0	840	$1,759	$2.09	2d	19	1.18mi
4828 Grove St North Richland Hills, TX	3.0	2.0	1268	$1,995	$1.57	8d	1	1.18mi
4828 Grove St North Richland Hills, TX	3.0	2.0	1268	$1,995	$1.57	25d	1	1.18mi
1301 Park Place Blvd Unit 1358 Hurst, TX	2.0	2.0	1059	$1,310	$1.24	3d	1	1.24mi
1301 Park Place Blvd Unit 1334 Hurst, TX	3.0	2.0	1338	$1,583	$1.18	3d	1	1.24mi
1301 Park Place Blvd Hurst, TX	3.0	2.0	1338	$1,652	$1.23	12d	1	1.26mi
1301 Park Place Blvd Hurst, TX	2.0	2.0	1059	$1,638	$1.55	3d	1	1.26mi
6728 Karen Dr North Richland Hills, TX	3.0	2.0	1645	$1,900	$1.16	25d	1	1.28mi
5000 Colorado Blvd North Richland Hills, TX	3.0	2.0	1132	$3,800	$3.36	1d	1	1.29mi
6540 Victoria Ave North Richland Hills, TX	4.0	3.0	2012	$2,650	$1.32	8d	1	1.31mi
3625 Venice Dr North Richland Hills, TX	4.0	2.0	1896	$2,095	$1.10	25d	1	1.47mi
6605 Park Place Dr Unit D Richland Hills, TX	2.0	1.5	1192	$1,450	$1.22	25d	1	1.48mi
6605 Park Place Dr Unit A Richland Hills, TX	3.0	2.5	1850	$1,700	$0.92	44d	1	1.48mi
6605 Park Place Dr Unit A Richland Hills, TX	3.0	2.5	1388	$1,595	$1.15	14d	1	1.48mi
6605 Park Place Dr Richland Hills, TX	2.0	2.0	1192	$1,450	$1.22	44d	1	1.48mi
3319 Crites St Richland Hills, TX	3.0	2.0	1600	$1,650	$1.03	44d	1	1.49mi
3319 Crites St Unit 203 Richland Hills, TX	3.0	2.0	1680	$1,595	$0.95	44d	1	1.49mi
3319 Crites St Unit 101 Richland Hills, TX	3.0	2.5	1580	$1,650	$1.04	25d	1	1.49mi

Listing history 17 events

1. 2026-05-14
   status Pending 149-char remark

   Show marketing remark (149 chars)

   This is a great first time buyer home. Located just minutes from Fort Worth and Dallas. Plenty of shopping, eateries, and entertainment for everyone.

2. 2026-05-10
   status Active 149-char remark

   Show marketing remark (149 chars)

   This is a great first time buyer home. Located just minutes from Fort Worth and Dallas. Plenty of shopping, eateries, and entertainment for everyone.

3. 2026-05-06
   historical Active Option Contract 149-char remark

   Show marketing remark (149 chars)

   This is a great first time buyer home. Located just minutes from Fort Worth and Dallas. Plenty of shopping, eateries, and entertainment for everyone.

4. 2026-05-04
   price $200,000 149-char remark

   Show marketing remark (149 chars)

   This is a great first time buyer home. Located just minutes from Fort Worth and Dallas. Plenty of shopping, eateries, and entertainment for everyone.

5. 2026-05-03
   status Active 149-char remark

   Show marketing remark (149 chars)

   This is a great first time buyer home. Located just minutes from Fort Worth and Dallas. Plenty of shopping, eateries, and entertainment for everyone.

6. 2026-04-29
   historical Active Option Contract 149-char remark

   Show marketing remark (149 chars)

   This is a great first time buyer home. Located just minutes from Fort Worth and Dallas. Plenty of shopping, eateries, and entertainment for everyone.

7. 2026-04-23
   status Active 149-char remark

   Show marketing remark (149 chars)

   This is a great first time buyer home. Located just minutes from Fort Worth and Dallas. Plenty of shopping, eateries, and entertainment for everyone.

8. 2026-04-03
   historical Active Option Contract 149-char remark

   Show marketing remark (149 chars)

   This is a great first time buyer home. Located just minutes from Fort Worth and Dallas. Plenty of shopping, eateries, and entertainment for everyone.

9. 2026-03-24
   price $210,000 149-char remark

   Show marketing remark (149 chars)

   This is a great first time buyer home. Located just minutes from Fort Worth and Dallas. Plenty of shopping, eateries, and entertainment for everyone.

10. 2026-03-12
    price $223,000 149-char remark

    Show marketing remark (149 chars)

    This is a great first time buyer home. Located just minutes from Fort Worth and Dallas. Plenty of shopping, eateries, and entertainment for everyone.

11. 2026-03-04
    price $230,000 149-char remark

    Show marketing remark (149 chars)

    This is a great first time buyer home. Located just minutes from Fort Worth and Dallas. Plenty of shopping, eateries, and entertainment for everyone.

12. 2026-02-27
    status Active 149-char remark

    Show marketing remark (149 chars)

    This is a great first time buyer home. Located just minutes from Fort Worth and Dallas. Plenty of shopping, eateries, and entertainment for everyone.

13. 2026-02-24
    historical Active Option Contract 149-char remark

    Show marketing remark (149 chars)

    This is a great first time buyer home. Located just minutes from Fort Worth and Dallas. Plenty of shopping, eateries, and entertainment for everyone.

14. 2026-02-09
    price $244,500 149-char remark

    Show marketing remark (149 chars)

    This is a great first time buyer home. Located just minutes from Fort Worth and Dallas. Plenty of shopping, eateries, and entertainment for everyone.

15. 2026-01-31
    listed $250,000 Active 149-char remark

    Show marketing remark (149 chars)

    This is a great first time buyer home. Located just minutes from Fort Worth and Dallas. Plenty of shopping, eateries, and entertainment for everyone.

16. 2025-10-14
    soldstatus
17. 1987-07-07
    soldstatus

ⓘ 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: $4,505 · $375/mo
• Projected year-2 tax: $4,505 · $375/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 4/10 Moderate 24% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,374
• − Mortgage interest: −$11,203
• − Property taxes: −$4,505
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,030
• − Management: −$2,030
• − Depreciation: −$5,818
• Taxable loss: −$1,212
• Est. tax savings @ 24.0%: +$291
• After-tax cash flow: $2,245/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: Birdville ISD
• NCES district ID: 4810230
• Math proficiency: 42% ▼ -12.00%
• Reading proficiency: 43% ▼ -6.00%
• Median HH income: $55,930
• Composite: 37.13/100
• National rank: #4491
• State rank: #299 of 826 in TX

Livability — Richland Hills

• Score: 69/100
• State rank: #410
• US rank: #8468

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Richland Hills, TX
• County: Tarrant County · 2,033,669 people
• Metro: Dallas-Fort Worth-Arlington, TX
• Population (ZIP): 17,991
• Household income: $94,530
• Rent vs Own: 26.9% rent · 73.1% own
• Severe rent burden: 405.0

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 0.62)
• Race & ethnicity: White 58% Hispanic / Latino 18% Black 10% Asian 8% Two or more races 6% Pacific Islander 1% Native American 1%
• Hispanic origin (detail): Mexican 12% Puerto Rican 4%
• Common ancestry: Slovak 2% Lithuanian 2% Italian 1%
• Foreign-born: 13% · Canada, Vietnam
• Languages at home: 80% English-only · Spanish 10% Other Indo-European 5% Vietnamese 2%

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: ▼ -58.64%
• Current HPI: 310.0546
• Rent YoY: ▲ 1.28%
• 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

-20.0% since first listed

17 events — show timeline

• 2026-05-14 Pending — NTREIS
• 2026-05-10 Relisted — NTREIS
• 2026-05-06 Contingent — NTREIS
• 2026-05-04 Price Changed $200,000 NTREIS
• 2026-05-03 Relisted — NTREIS
• 2026-04-29 Contingent — NTREIS
• 2026-04-23 Relisted — NTREIS
• 2026-04-03 Contingent — NTREIS
• 2026-03-24 Price Changed $210,000 NTREIS
• 2026-03-12 Price Changed $223,000 NTREIS
• 2026-03-04 Price Changed $230,000 NTREIS
• 2026-02-27 Relisted — NTREIS
• 2026-02-24 Contingent — NTREIS
• 2026-02-09 Price Changed $244,500 NTREIS
• 2026-01-31 Listed $250,000 NTREIS
• 2025-10-14 Sold (Public Records) — Public Records
• 1987-07-07 Sold (Public Records) — Public Records

Property tax history

+4.1%/yr

Latest (2025): $4,505 · +7.8% YoY. Source: county tax records.