1906 Grainger St · Fort Worth, TX 76110

$400,000

8 bd · 4.0 ba · 2,640 sqft · MultiFamily public records · 12 Days on market

Built 1922 6,098 sqft lot $152/sqft · at area comps Est $383k · at est.

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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
• DSCR +10.0/10.0
• 1% rule +8.8/10.0
• ARV discount +5.6/15.0
• Livability +4.0/5.0
• Rent growth +2.7/5.0
• 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

Four Doors. $400,000. Originally Listed at $575,000. The facts, then you decide: The price. This quadplex originally listed at $575,000. It's now $400,000, $100,000 per door in Fort Worth's Bellevue Hill, minutes from the Hospital District and TCU. The why. The owner holds this property from out of state and has priced it for a clean, fast exit. He's not interested in executing the upside. That's the buyer's to keep. The income: from the actual rent roll, available on request. Three units are occupied and paying: two at $975 per month, one at $840 per month. The fourth unit is vacant, rent-ready, and currently listed for lease at $975, lease it day one or use it as your test case. In-place

Key facts

• Central hvac
• Laminate flooring
• Functional kitchens

Tags

• INCOME PRODUCING QUADRUPLEX
• CENTRAL HVAC
• LAMINATE FLOORING
• FUNCTIONAL KITCHENS
• SHARED OFF STREET PARKING
• FENCED FRONT YARD

Property features AI

Finance

• Other: Property listed as Residential Income — Quadruplex; Gross building area reported from assessor
• Financial info: Listing eligible for 1031 Exchange, cash, and conventional terms; Reported gross annual income and expenses listed as placeholder values
• HOA & community: No association (no HOA)

Exterior

• Parking: 4 parking spaces; Additional common parking available
• Security: No accessibility features reported
• Utilities: City water; City sewer; Municipal Utility District not applicable
• Home design: Residential income property (quadruplex); Single building with 4 units; Built in 1922; Two stories
• Construction: Siding exterior; Composition roof; Slab foundation
• Exterior features: Lot less than 0.5 acre; Lot recorded as approximately 0.14 acres; Subdivision: Bellevue Hill Add; Complex name: Bellevue Hill

Interior

• Kitchen: Other appliances
• Bedrooms: 4 bedrooms total
• Flooring: Laminate
• Bathrooms: 4 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Two-level interior; Laminate flooring; Other built-in interior features
• Laundry & utility: No specific laundry details listed

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1-bath units multifamily listed at $400k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive. Per door: $405/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $400k).
• Cap rate 11.2% 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: 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.
• Zoned schools: Daggett El (math 17% / reading 20%, grade F, #3,759 of 4,322 statewide, top 88%, 544 students, 84% FRL).
• Market conditions: Rents flat; 150 active listings in the ZIP; 18,938 units permitted in Tarrant County in 2024 (8,336 in 5+ unit buildings).
• At $5,539/mo this rent would consume 95% of the median local household income ($70k/yr) (locally 1471% 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 $3k of loan paydown is wiped out by about $12k 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 + 0.7% rent growth), your $112k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 17 sale attempts since 16y 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: built in 1922 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $400,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1922 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
7. 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.
8. 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.
9. 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: 1.38% ✓
• Cap rate: 11.15%
• Cash-on-cash: 17.36%
• DSCR: 1.77
• GRM: 6.0

CMA / ARV

• ARV (median comp): $383,469
• List price: $400,000
• Delta: 18.65%
• Verdict: OVERPRICED
• Comps: 17 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.7% rent growth · sell at horizon

5-year hold

• IRR: 6.1%
• Equity multiple: 1.23×
• Total profit: $25,918
• Equity at exit: $59,641

10-year hold

• IRR: 13.3%
• Equity multiple: 1.95×
• Total profit: $106,656
• Equity at exit: $34,585

Cash invested: $112,000 (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 76110

• Rents YoY: 0.7%
• Active inventory: 150
• Price-to-rent: 24.1×

Monthly cashflow live

• Estimated rent: $5,539 high
• Mortgage (P&I): −$2,098
• Tax from tax record: −$491 /mo · $5,896/yr
• Insurance: −$167
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,163
• Net cashflow: $1,620

Break-even live

Break-even rent $3,488

Max offer price $400,000

Occupancy floor 66%

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$5,540
Total (4 units)			$5,539

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: $100,000
• Closing costs: $12,000
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-06-18
   days on market $400,000 Active 12 DOM
2. 2026-06-17
   days on market $400,000 Active 11 DOM
3. 2026-06-16
   days on market $400,000 Active 10 DOM
4. 2026-06-15
   days on market $400,000 Active 9 DOM
5. 2026-06-13
   remarks 699-char remark
6. 2026-06-13
   days on market $400,000 Active 7 DOM
7. 2026-06-09
   days on market $400,000 Active 3 DOM
8. 2026-06-08
   days on market $400,000 Active 2 DOM
9. 2026-06-07
   pricedays on marketlisting id $400,000 Active 1 DOM
10. 2026-06-04
    days on market $455,000 Active 41 DOM
11. 2026-06-03
    days on market $455,000 Active 40 DOM
12. 2026-06-02
    days on market $455,000 Active 39 DOM
13. 2026-06-01
    days on market $455,000 Active 38 DOM
14. 2026-05-31
    days on market $455,000 Active 37 DOM
15. 2026-05-08
    listed $975
16. 2026-04-24
    price $455,000
17. 2026-04-24
    historical
18. 2026-04-24
    listed $455,000 Active 1044-char remark
19. 2026-02-20
    historical $975
20. 2025-12-20
    listed $499,900 Active
21. 2025-12-12
    listed $975
22. 2025-11-14
    historical
23. 2025-11-06
    listed $555,000 Active
24. 2025-10-31
    historical
25. 2025-04-08
    listed $555,000 Active
26. 2025-04-08
    historical
27. 2025-03-14
    price $565,000
28. 2025-01-30
    status Active
29. 2025-01-24
    historical Active Option Contract
30. 2024-12-10
    listed $575,000 Active
31. 2024-12-02
    historical
32. 2024-11-01
    listed $575,000
33. 2023-09-13
    soldstatus
34. 2023-09-12
    soldstatus Closed
35. 2023-08-01
    status Pending
36. 2023-07-14
    historical Active Option Contract
37. 2023-07-12
    listed $425,000 Active
38. 2014-04-25
    soldstatus Closed
39. 2014-03-29
    status Pending
40. 2014-03-14
    listed $130,000 Active
41. 2013-02-28
    historical
42. 2013-01-18
    price $75,000
43. 2012-12-14
    status Active
44. 2012-11-28
    historical Active Option Contract
45. 2012-11-14
    price $78,000
46. 2012-09-21
    status Active
47. 2012-09-19
    historical
48. 2012-07-24
    listed $94,000 Active
49. 2011-10-30
    historical
50. 2011-08-13
    price $110,000

ⓘ 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: $5,896 · $491/mo
• Projected year-2 tax: $7,320 · $610/mo
• Expected delta: +$1,424/yr (+$119/mo · 24.1%)

ⓘ 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 · 22 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 21% 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: $66,468
• − Mortgage interest: −$22,406
• − Property taxes: −$5,896
• − Insurance: −$2,000
• − Repairs & maintenance: −$5,317
• − Management: −$5,317
• − Depreciation: −$11,636
• Taxable income: $13,894
• Est. tax owed @ 24.0%: −$3,335
• After-tax cash flow: $16,107/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): 33,441
• Household income: $69,790
• Rent vs Own: 37.6% rent · 62.4% own
• Severe rent burden: 1471.0

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: Majority Hispanic (63%)
• Race & ethnicity: Hispanic / Latino 63% White 30% Two or more races 24% Black 2% Asian 2%
• Hispanic origin (detail): Mexican 57%
• Common ancestry: Slovak 1% Italian 1% Lithuanian 1%
• Foreign-born: 26% · Canada, China
• Languages at home: 45% English-only · Spanish 52% Other Asian/Pacific 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: ▼ -194.46%
• Current HPI: 274.8888
• Rent YoY: ▲ 0.70%
• 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

+233.3% since first listed

43 events — show timeline

• 2026-06-06 Listing Removed — NTREIS
• 2026-06-06 Listed $400,000 NTREIS
• 2026-06-02 Rental Removed $975 SHOWMOJO
• 2026-05-08 Listed for Rent $975 SHOWMOJO
• 2026-04-24 Price Changed $455,000 NTREIS
• 2026-04-24 Listing Removed — NTREIS
• 2026-04-24 Listed $455,000 NTREIS
• 2026-02-20 Rental Removed $975 SHOWMOJO
• 2025-12-20 Listed $499,900 NTREIS
• 2025-12-12 Listed for Rent $975 SHOWMOJO
• 2025-11-14 Listing Removed — NTREIS
• 2025-11-06 Listed $555,000 NTREIS
• 2025-10-31 Listing Removed — NTREIS
• 2025-04-08 Listing Removed — NTREIS
• 2025-04-08 Listed $555,000 NTREIS
• 2025-03-14 Price Changed $565,000 NTREIS
• 2025-01-30 Relisted — NTREIS
• 2025-01-24 Contingent — NTREIS
• 2024-12-10 Listed $575,000 NTREIS
• 2024-12-02 Listing Removed — NTREIS
• 2024-11-01 Listed $575,000 NTREIS
• 2023-09-13 Sold (Public Records) — Public Records
• 2023-09-12 Sold (MLS) — NTREIS
• 2023-08-01 Pending — NTREIS
• 2023-07-14 Contingent — NTREIS
• 2023-07-12 Listed $425,000 NTREIS
• 2014-04-25 Sold (MLS) — NTREIS
• 2014-03-29 Pending — NTREIS
• 2014-03-14 Listed $130,000 NTREIS
• 2013-02-28 Listing Removed — NTREIS
• 2013-01-18 Price Changed $75,000 NTREIS
• 2012-12-14 Relisted — NTREIS
• 2012-11-28 Contingent — NTREIS
• 2012-11-14 Price Changed $78,000 NTREIS
• 2012-09-21 Relisted — NTREIS
• 2012-09-19 Listing Removed — NTREIS
• 2012-07-24 Listed $94,000 NTREIS
• 2011-10-30 Listing Removed — NTREIS
• 2011-08-13 Price Changed $110,000 NTREIS
• 2011-08-02 Relisted — NTREIS
• 2011-08-01 Listing Removed — NTREIS
• 2010-12-14 Listed $120,000 NTREIS
• 2000-06-26 Sold (Public Records) — Public Records

Property tax history

+6.5%/yr

Latest (2025): $5,896 · -2.4% YoY. Source: county tax records.