6319 Holiday Ln

North Richland Hills, TX 76182

$235,000D+

3 bd · 2.0 ba · 1,215 sqft · Built 1986 · Townhouse · Active · 20 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,002/mo
• Mortgage (P&I): −$1,232
• Tax + insurance: −$381
• HOA: −$0
• Vac / Maint / Mgmt: −$421
• Net cashflow: $-32/mo
• Annual: $-380/yr
• Cap rate: 6.13%
• Cash-on-cash: -0.58%
• DSCR: 0.97
• 1% rule: 0.85%
• Cash to close: $65,800

Investor read

• This is a 3-bed/2.0-bath townhouse listed at $235k.
• At list price, monthly cash flow is $-32 ($-380/yr) — negative.
• To cash-flow at today's rent, offer at most $229k (2.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $200k (14.8% below list).
• It's been on market 20 days — a 2% lower offer ($231k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $200k (14.8% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 71/100 on livability (#286 in TX) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A, employment A-; Watch: amenities F, commute F, health & safety D-.
• 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.
• Zoned schools: Smithfield El (math 44% / reading 58%, grade C-, #818 of 4,322 statewide, top 19%, 610 students, 42% FRL).
• Market conditions: Rents rising (+2.2%/yr); 180 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 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.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.1% vs local median 3.6% in North 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.

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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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?
• 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.
• 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.
• 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.