1475 E Morphy St · Fort Worth, TX 76104

$120,000

3 bd · 1.0 ba · 1,044 sqft · SingleFamily public records · 3 Days on market

Built 1924 6,250 sqft lot $115/sqft · 39% below area Est $198k · 39% under ↓ 12% since listing

---

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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.5/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming 1924-built single-story home nestled in the Hillside Morningside area of Fort Worth. This 3-bedroom, 1-bath residence spans approximately 1,044 sq ft of living space. Sited on a generous 6,250 sq ft lot 0.143 acre in the Lakeview Addition, Block 17 Lot 14. Tucked away on E Morphy Street with easy access to the heart of Fort Worth, this property offers a comfortable footprint with potential for personalization or expansion. Interior highlights include the well-proportioned living areas, original 1920s charm, and a layout that’s ready for updates or moderate refresh. The outdoor lot gives ample space for landscaping, outdoor living, or possible future projects. Whether you’re looking for a starter home, an investment property, or something to make your own, this property delivers foundational value with room to grow. **Seller prefers to limit property tours to buyers who are under contract or within the option period. Showings will be scheduled only during the option period to ensure minimal disruption and to prioritize serious, qualified buyers actively moving forward.**

Key facts

• Lakeview addition
• Room to grow
• Outdoor living

Tags

• HILLSIDE MORNINGSIDE AREA
• LAKEVIEW ADDITION
• OUTDOOR LIVING
• POTENTIAL FOR PERSONALIZATION
• ROOM TO GROW

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $557 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Cap rate 11.9% 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 flat; 172 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); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; 18,938 units permitted in Tarrant County in 2024 (8,336 in 5+ unit buildings).
• This rent runs 31% of the median local income ($62k/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 $830 of loan paydown is wiped out by about $4k 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.
• At projected returns (-3.0% appreciation + 0.1% rent growth), your $34k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts; this cycle's ask has dropped $20k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1924 — 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 $120,000

Questions for the listing agent

1. Built in 1924 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 1.35% ✓
• Cap rate: 11.86%
• Cash-on-cash: 19.89%
• DSCR: 1.88
• GRM: 6.2

CMA / ARV

• ARV (median comp): $198,007
• List price: $120,000
• Delta: -29.30%
• 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
1532 E Myrtle St	0.09mi	2/1.0 (-1)	1,100 (+5%)	1mo	$184,990	$168	81
1507 E Maddox Ave	0.12mi	3/2.5	1,120 (+7%)	5mo	$199,000	$178	72
1431 E Baltimore Ave	0.42mi	3/2.0	1,032 (-1%)	6mo	$165,000	$160	70
1423 E Davis Ave	0.55mi	3/1.0	1,000 (-4%)	7mo	$229,000	$229	62
1315 Stewart St	0.69mi	3/1.5	1,065 (+2%)	1mo	$190,000	$178	61
1415 E Terrell Ave	0.48mi	2/2.0 (-1)	1,008 (-3%)	2mo	$170,000	$169	61
943 E Richmond Ave	0.75mi	2/1.0 (-1)	1,046 (+0%)	2mo	$175,000	$167	58
1917 Avenue B	0.49mi	2/1.0 (-1)	1,102 (+6%)	6mo	$204,900	$186	57
1106 E Terrell Ave	0.62mi	2/2.0 (-1)	1,141 (+9%)	8mo	$168,000	$147	40
1601 E Leuda St	0.53mi	3/2.0	1,197 (+15%)	9mo	$235,000	$196	39
1113 Verbena St	0.52mi	3/2.0	1,196 (+15%)	11mo	$225,000	$188	38
1112 E Leuda St	0.68mi	3/2.0	1,188 (+14%)	11mo	$209,000	$176	32

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 · 0.05% rent growth · sell at horizon

5-year hold

• IRR: 8.9%
• Equity multiple: 1.34×
• Total profit: $11,322
• Equity at exit: $17,892

10-year hold

• IRR: 15.6%
• Equity multiple: 2.11×
• Total profit: $37,331
• Equity at exit: $10,375

Cash invested: $33,600 (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 76104

• Home prices YoY: -11.6%
• Rents YoY: 0.1%
• Active inventory: 172
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,616 high
• Mortgage (P&I): −$629
• Tax from tax record: −$41 /mo · $487/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$339
• Net cashflow: $557

Break-even live

Break-even rent $911

Max offer price $120,000

Occupancy floor 61%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1605 E Morphy St Fort Worth, TX	3.0	2.0	1090	$1,425	$1.31	2d	1	0.06mi
1516 E Maddox Ave Fort Worth, TX	3.0	2.0	1485	$1,895	$1.28	22d	1	0.16mi
1327 E Baltimore Ave Fort Worth, TX	3.0	2.0	1426	$1,650	$1.16	24d	1	0.47mi
2104 Daniel St Fort Worth, TX	3.0	2.0	1440	$1,675	$1.16	44d	1	0.50mi
1601 E Leuda St Fort Worth, TX	3.0	2.0	1197	$1,750	$1.46	44d	1	0.54mi
1521 E Cannon St Fort Worth, TX	2.0	2.0	1140	$1,600	$1.40	44d	1	0.60mi
1228 E Leuda St Fort Worth, TX	3.0	2.0	1388	$2,100	$1.51	44d	1	0.62mi
1017 E Humbolt St Fort Worth, TX	2.0	2.0	1400	$1,550	$1.11	44d	1	0.70mi
612 Luxton St Unit 202 Fort Worth, TX	2.0	1.0	900	$1,095	$1.22	44d	1	0.71mi
1718 E Powell Ave Fort Worth, TX	2.0	1.5	930	$1,655	$1.78	44d	1	0.73mi
1016 E Arlington Ave Unit C Fort Worth, TX	2.0	1.0	918	$995	$1.08	17d	1	0.77mi
940 E Hattie St Unit 202 Fort Worth, TX	2.0	1.0	825	$900	$1.09	44d	1	0.88mi
1429 E Robert St Fort Worth, TX	3.0	2.0	1050	$1,350	$1.29	22d	1	0.96mi
1608 E Robert St Fort Worth, TX	3.0	2.0	1028	$1,525	$1.48	6d	1	1.00mi
1011 Marion Ave Fort Worth, TX	2.0	1.0	1000	$1,400	$1.40	44d	1	1.03mi
2645 Canberra Ct Fort Worth, TX	2.0	1.0	750	$1,150	$1.53	44d	1	1.03mi
2640 Berryhill Dr Fort Worth, TX	2.0	1.0	1478	$1,299	$0.88	24d	1	1.06mi
921 E Ramsey Ave Fort Worth, TX	2.0	1.0	828	$1,450	$1.75	24d	1	1.08mi
901 Bessie St Fort Worth, TX	2.0	1.0	710	$1,149	$1.62	22d	2	1.08mi
1108 E Robert St Fort Worth, TX	3.0	1.0	1444	$1,825	$1.26	22d	1	1.11mi
1310 Crawford St Fort Worth, TX	2.0	2.0	938	$1,393	$1.49	6d	1	1.13mi
1037 Colvin St Fort Worth, TX	2.0	1.0	1092	$1,500	$1.37	20d	1	1.16mi
2705 Belzise Ter Fort Worth, TX	2.0	2.0	1160	$1,450	$1.25	44d	1	1.17mi
501A Parkdale Ave Fort Worth, TX	2.0	1.0	950	$1,500	$1.58	44d	1	1.21mi
1016 Bryan Ave Unit 102 Fort Worth, TX	2.0	2.5	1400	$2,500	$1.79	24d	1	1.22mi
2837 Avenue J Unit J Fort Worth, TX	3.0	1.5	1000	$1,455	$1.46	24d	1	1.24mi
2839 Avenue J Unit J Fort Worth, TX	3.0	1.5	1000	$1,455	$1.46	24d	1	1.24mi
2909 Avenue K Fort Worth, TX	3.0	2.0	1490	$700	$0.47	44d	1	1.30mi
2912 Avenue K Fort Worth, TX	3.0	1.5	1200	$1,600	$1.33	44d	1	1.31mi
220 E Broadway Ave Unit 2121 Fort Worth, TX	2.0	2.0	1151	$1,946	$1.69	3d	1	1.35mi
220 E Broadway Ave Unit 257 Fort Worth, TX	2.0	2.0	1082	$1,944	$1.80	44d	1	1.35mi
320 E Broadway Ave Fort Worth, TX	2.0	1.0–2.0	861	$2,089	$2.42	1d	30	1.36mi
650 S Main St Unit 510 Fort Worth, TX	2.0	2.0	1068	$1,614	$1.51	14d	1	1.37mi
650 S Main St Unit 707 Fort Worth, TX	2.0	2.0	1068	$1,619	$1.52	15d	1	1.37mi
2825 Bideker Ave Fort Worth, TX	3.0	1.0	900	$1,500	$1.67	24d	1	1.37mi
315 W Magnolia Ave Fort Worth, TX	2.0	1.0–2.0	827	$2,118	$2.56	2d	40	1.39mi
1212 Lowden Cir Fort Worth, TX	2.0	1.0	890	$970	$1.09	44d	1	1.39mi
1516 Chama Dr Fort Worth, TX	3.0	2.0	1332	$1,695	$1.27	21d	1	1.39mi
3100 Avenue G Unit 200 Fort Worth, TX	2.0	1.0	1000	$750	$0.75	13d	1	1.40mi
1925 Saint Louis Ave Fort Worth, TX	3.0	1.0	1219	$1,695	$1.39	44d	1	1.40mi

Listing history 11 events

1. 2026-06-18
   days on market $120,000 Active 3 DOM
2. 2026-06-17
   days on market $120,000 Active 2 DOM
3. 2026-06-16
   pricedays on marketlisting id $120,000 Active 1 DOM
4. 2026-04-18
   status Active 1118-char remark

   Show marketing remark (1118 chars)

   Charming 1924-built single-story home nestled in the Hillside Morningside area of Fort Worth. This 3-bedroom, 1-bath residence spans approximately 1,044 sq ft of living space. Sited on a generous 6,250 sq ft lot 0.143 acre in the Lakeview Addition, Block 17 Lot 14. Tucked away on E Morphy Street with easy access to the heart of Fort Worth, this property offers a comfortable footprint with potential for personalization or expansion. Interior highlights include the well-proportioned living areas, original 1920s charm, and a layout that’s ready for updates or moderate refresh. The outdoor lot gives ample space for landscaping, outdoor living, or possible future projects. Whether you’re looking for a starter home, an investment property, or something to make your own, this property delivers foundational value with room to grow. **Seller prefers to limit property tours to buyers who are under contract or within the option period. Showings will be scheduled only during the option period to ensure minimal disruption and to prioritize serious, qualified buyers actively moving forward.**

5. 2026-04-07
   historical Active Option Contract 1118-char remark

   Show marketing remark (1118 chars)

   Charming 1924-built single-story home nestled in the Hillside Morningside area of Fort Worth. This 3-bedroom, 1-bath residence spans approximately 1,044 sq ft of living space. Sited on a generous 6,250 sq ft lot 0.143 acre in the Lakeview Addition, Block 17 Lot 14. Tucked away on E Morphy Street with easy access to the heart of Fort Worth, this property offers a comfortable footprint with potential for personalization or expansion. Interior highlights include the well-proportioned living areas, original 1920s charm, and a layout that’s ready for updates or moderate refresh. The outdoor lot gives ample space for landscaping, outdoor living, or possible future projects. Whether you’re looking for a starter home, an investment property, or something to make your own, this property delivers foundational value with room to grow. **Seller prefers to limit property tours to buyers who are under contract or within the option period. Showings will be scheduled only during the option period to ensure minimal disruption and to prioritize serious, qualified buyers actively moving forward.**

6. 2026-03-30
   listed $140,000 Active 1118-char remark

   Show marketing remark (1118 chars)

   Charming 1924-built single-story home nestled in the Hillside Morningside area of Fort Worth. This 3-bedroom, 1-bath residence spans approximately 1,044 sq ft of living space. Sited on a generous 6,250 sq ft lot 0.143 acre in the Lakeview Addition, Block 17 Lot 14. Tucked away on E Morphy Street with easy access to the heart of Fort Worth, this property offers a comfortable footprint with potential for personalization or expansion. Interior highlights include the well-proportioned living areas, original 1920s charm, and a layout that’s ready for updates or moderate refresh. The outdoor lot gives ample space for landscaping, outdoor living, or possible future projects. Whether you’re looking for a starter home, an investment property, or something to make your own, this property delivers foundational value with room to grow. **Seller prefers to limit property tours to buyers who are under contract or within the option period. Showings will be scheduled only during the option period to ensure minimal disruption and to prioritize serious, qualified buyers actively moving forward.**

7. 2026-03-27
   historical
8. 2026-03-24
   status Active
9. 2026-03-13
   historical Active Option Contract
10. 2026-03-09
    price $150,000
11. 2025-10-29
    listed $160,000 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: $487 · $41/mo
• Projected year-2 tax: $2,196 · $183/mo
• Expected delta: +$1,709/yr (+$142/mo · 350.5%)

ⓘ 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 ≥109°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 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,395
• − Mortgage interest: −$6,722
• − Property taxes: −$487
• − Insurance: −$600
• − Repairs & maintenance: −$1,552
• − Management: −$1,552
• − Depreciation: −$3,491
• Taxable income: $4,991
• Est. tax owed @ 24.0%: −$1,198
• After-tax cash flow: $5,485/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): 20,443
• Household income: $61,658
• Rent vs Own: 63.1% rent · 36.9% own
• Severe rent burden: 1060.0

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 0.67)
• Race & ethnicity: Hispanic / Latino 45% Black 28% White 21% Two or more races 17% Asian 2%
• Hispanic origin (detail): Mexican 41% Cuban 1%
• Common ancestry: Lithuanian 1% Italian 1% Arab 1%
• Foreign-born: 21% · Canada, Vietnam, Philippines
• Languages at home: 58% English-only · Spanish 37% Arabic 1% Other Indo-European 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: ▼ -36.10%
• Current HPI: 276.383
• Rent YoY: ▬ 0.05%
• 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

-12.5% since first listed

8 events — show timeline

• 2026-04-18 Relisted — NTREIS
• 2026-04-07 Contingent — NTREIS
• 2026-03-30 Listed $140,000 NTREIS
• 2026-03-27 Listing Removed — NTREIS
• 2026-03-24 Relisted — NTREIS
• 2026-03-13 Contingent — NTREIS
• 2026-03-09 Price Changed $150,000 NTREIS
• 2025-10-29 Listed $160,000 NTREIS

Property tax history

+0.8%/yr

Latest (2025): $487 · +7.3% YoY. Source: county tax records.