3732 Bonnie Dr · Fort Worth, TX 76116

$605,000

8 bd · 4.0 ba · 4,372 sqft · MultiFamily public records · 33 Days on market

Built 1982 10,803 sqft lot Est $608k · at est.

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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).

• Cash flow +12.7/30.0
• ARV discount +7.7/15.0
• Livability +4.0/5.0
• 1% rule +3.8/10.0
• DSCR +3.8/10.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks MLS

This 4-plex is a Landlords Dream No vacancies! This is a great investment in a good neighborhood. It could be a place where an owner occupant could live RENT FREE while creating a sound investment for the future.

Key facts

• Private patio
• Backyard space
• 0.25 acre lot

Tags

• PRIVATE PATIO
• BACKYARD SPACE
• PRIVATE CONCRETE PARKING LOT
• INDIVIDUALLY METERED ELECTRIC

Property features AI

Finance

• Other: Property type: Residential Income (Quadruplex); Number of buildings: 1; Number of units: 4; Building area source: Assessor
• Financial info: Gross annual income: $62,115; Gross annual expenses: $11,127; Insurance expense: $5,681; Net operating income: $50,988; Cap rate: 7.84%; Listing terms: Cash or Conventional
• HOA & community: No association

Exterior

• Parking: 8 parking spaces; No garage or carport
• Security: Smoke detectors; Audio and video surveillance present
• Utilities: City water; City sewer; Municipal Utility District: No
• Home design: Residential income property (quadruplex); Two levels; Built in 1982; Entry level: not specified; Facing direction: not specified
• Construction: Brick, siding, and wood construction; Composition roof; Slab foundation
• Exterior features: Additional common parking; Lot about 0.25 acre; Subdivision: Highland Homes Add; Complex: Highland Homes

Interior

• Kitchen: Electric range; Electric water heater
• Bedrooms: 8 bedrooms total
• Flooring: Other flooring
• Bathrooms: 4 full bathrooms; 4 half bathrooms (8 total bathrooms)
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Cable TV available; High-speed internet available; No fireplaces
• Laundry & utility: Electric water heater (listed under appliances)

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.5-bath units multifamily listed at $605k.

Deal economics

• At list price, monthly cash flow is $-65 ($-778/yr) — negative. Per door: $-16/mo.
• To cash-flow at today's rent, offer at most $594k (1.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $532k (12.1% below list).
• Recommended offer: $532k (12.1% below list) — sets the bar for 1% rule.
• Cap rate 6.2% 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 rising (+1.8%/yr); 209 active listings in the ZIP; 18,938 units permitted in Tarrant County in 2024 (8,336 in 5+ unit buildings).
• At $5,316/mo this rent would consume 114% of the median local household income ($56k/yr) (locally 4188% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $18k 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 33 days — a 3% lower offer ($587k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 18y ago; this cycle's ask has dropped $45k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• 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 $531,600 (12.1% below list)

Questions for the listing agent

1. 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?
2. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.88% ✗
• Cap rate: 6.16%
• Cash-on-cash: -0.46%
• DSCR: 0.98
• GRM: 9.5

CMA / ARV

• ARV (on-the-fly): $607,708
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3736 Ramona Dr	0.08mi	8/6.0	4,060 (-7%)	6mo	$565,000	$139	71
7508 Chapin Rd	0.06mi	8/6.0	4,550 (+4%)	15mo	$645,000	$142	70
3808 Coates Cir	0.28mi	8/6.0	4,760 (+9%)	18mo	$615,000	$129	49

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 · 1.77% rent growth · sell at horizon

5-year hold

• IRR: -18.4%
• Equity multiple: 0.36×
• Total profit: $-108,534
• Equity at exit: $90,207

10-year hold

• IRR: -13.4%
• Equity multiple: 0.26×
• Total profit: $-125,312
• Equity at exit: $52,309

Cash invested: $169,400 (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 76116

• Rents YoY: 1.8%
• Active inventory: 209
• Price-to-rent: 37.9×

Monthly cashflow live

• Estimated rent: $5,316 high
• Mortgage (P&I): −$3,173
• Tax from tax record: −$840 /mo · $10,077/yr
• Insurance: −$252
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,116
• Net cashflow: $-65

Break-even live

Break-even rent $5,398

Max offer price $593,544

Occupancy floor 96%

Sensitivity live

Price	-10% $278	-5% $106	+0% $-65	+5% $-236	+10% $-407
Rent	-10% $-485	-5% $-275	+0% $-65	+5% $145	+10% $355
Rate	-1.0pp $240	-0.5pp $89	base $-65	+0.5pp $-222	+1.0pp $-381

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	2	1.5	$5,316
Total (4 units)			$5,316

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: $151,250
• Closing costs: $18,150
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-18
   days on market $605,000 Active 33 DOM
2. 2026-06-17
   pricedays on market $605,000 Active 32 DOM
3. 2026-06-16
   days on market $620,000 Active 31 DOM
4. 2026-06-15
   days on market $620,000 Active 30 DOM
5. 2026-06-13
   days on market $620,000 Active 28 DOM
6. 2026-06-10
   price $620,000 Active 24 DOM
7. 2026-06-09
   days on market $635,000 Active 24 DOM
8. 2026-06-08
   days on market $635,000 Active 23 DOM
9. 2026-06-07
   days on market $635,000 Active 22 DOM
10. 2026-06-04
    days on market $635,000 Active 19 DOM
11. 2026-06-03
    pricedays on market $635,000 Active 18 DOM
12. 2026-06-02
    days on market $649,000 Active 17 DOM
13. 2026-06-01
    days on market $649,000 Active 16 DOM
14. 2026-05-31
    days on market $649,000 Active 15 DOM
15. 2026-05-16
    listed $650,000 Active
16. 2012-12-28
    soldstatus Closed 214-char remark

    Show marketing remark (214 chars)

    This 4-plex is a Landlords Dream No vacancies! This is a great investment in a good neighborhood. It could be a place where an owner occupant could live RENT FREE while creating a sound investment for the future.

17. 2012-10-04
    status Pending 214-char remark

    Show marketing remark (214 chars)

    This 4-plex is a Landlords Dream No vacancies! This is a great investment in a good neighborhood. It could be a place where an owner occupant could live RENT FREE while creating a sound investment for the future.

18. 2012-09-21
    status Active 214-char remark

    Show marketing remark (214 chars)

    This 4-plex is a Landlords Dream No vacancies! This is a great investment in a good neighborhood. It could be a place where an owner occupant could live RENT FREE while creating a sound investment for the future.

19. 2012-09-19
    historical 214-char remark

    Show marketing remark (214 chars)

    This 4-plex is a Landlords Dream No vacancies! This is a great investment in a good neighborhood. It could be a place where an owner occupant could live RENT FREE while creating a sound investment for the future.

20. 2012-09-10
    listed $174,500 Active 214-char remark

    Show marketing remark (214 chars)

    This 4-plex is a Landlords Dream No vacancies! This is a great investment in a good neighborhood. It could be a place where an owner occupant could live RENT FREE while creating a sound investment for the future.

21. 2011-02-16
    historical
22. 2008-10-15
    listed $189,900 Active
23. 2008-01-03
    soldstatus
24. 2008-01-03
    soldstatus
25. 2003-04-23
    soldstatus
26. 2001-09-13
    soldstatus
27. 1996-04-16
    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: $10,077 · $840/mo
• Projected year-2 tax: $11,072 · $923/mo
• Expected delta: +$995/yr (+$83/mo · 9.9%)

ⓘ 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 ≥108°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: $63,792
• − Mortgage interest: −$33,889
• − Property taxes: −$10,077
• − Insurance: −$3,025
• − Repairs & maintenance: −$5,103
• − Management: −$5,103
• − Depreciation: −$17,600
• Taxable loss: −$11,006
• Est. tax savings @ 24.0%: +$2,641
• After-tax cash flow: $1,863/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): 49,856
• Household income: $56,187
• Rent vs Own: 63.3% rent · 36.7% own
• Severe rent burden: 4188.0

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 0.66)
• Race & ethnicity: White 48% Hispanic / Latino 27% Black 20% Two or more races 11% Asian 2%
• Hispanic origin (detail): Mexican 22% Puerto Rican 1%
• Common ancestry: Italian 2% Slovak 1% Lithuanian 1%
• Foreign-born: 10% · Canada, China
• Languages at home: 79% English-only · Spanish 17% Other Indo-European 1% Chinese 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: ▼ -283.10%
• Current HPI: 282.3806
• Rent YoY: ▲ 1.77%
• 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

+242.3% since first listed

13 events — show timeline

• 2026-05-16 Listed $650,000 NTREIS
• 2012-12-28 Sold (MLS) — NTREIS
• 2012-10-04 Pending — NTREIS
• 2012-09-21 Relisted — NTREIS
• 2012-09-19 Listing Removed — NTREIS
• 2012-09-10 Listed $174,500 NTREIS
• 2011-02-16 Listing Removed — NTREIS
• 2008-10-15 Listed $189,900 NTREIS
• 2008-01-03 Sold (Public Records) — Public Records
• 2008-01-03 Sold (Public Records) — Public Records
• 2003-04-23 Sold (Public Records) — Public Records
• 2001-09-13 Sold (Public Records) — Public Records
• 1996-04-16 Sold (Public Records) — Public Records

Property tax history

+3.6%/yr

Latest (2025): $10,077 · -7.0% YoY. Source: county tax records.