602 Flooded Gum St · Arlington, TX 76002

$360,000

5 bd · 3.0 ba · 3,527 sqft · SingleFamily public records · 68 Days on market

Built 2004 6,011 sqft lot $102/sqft · 11% below area Est $406k · 11% under $24/mo HOA · 1% of rent

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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 +13.6/30.0
• ARV discount +12.6/15.0
• Schools +4.6/10.0
• 1% rule +4.5/10.0
• DSCR +4.1/10.0
• Livability +3.9/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious 5-bedroom, 3-bath home with a flexible layout and strong potential for the next owner to make it their own with interior cosmetic updates. With one bedroom downstairs and the primary plus additional bedrooms upstairs, this floor plan offers a setup that works well for a variety of needs. The home features three living areas, including a second living space upstairs—ideal for a game room, media space, or additional lounge area. There’s plenty of room to spread out and reimagine the space to fit your lifestyle. Located in a well-established neighborhood zoned to highly desired Mansfield ISD schools, with convenient access to shopping, dining, and entertainment. Just minutes from the new Texas Health Mansfield Stadium opening Summer 2026 and Hawaiian Falls Mansfield. If you’re looking for a home with space, location, and the opportunity to update to your own taste, this one is worth a look.

Key facts

• Three living areas
• 6,011 sq ft lot
• 2 garage spots

Tags

• THREE LIVING AREAS
• WELL-ESTABLISHED NEIGHBORHOOD
• CONVENIENT ACCESS TO SHOPPING
• CONVENIENT ACCESS TO DINING

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath single-family listed at $360k.

Deal economics

• At list price, monthly cash flow is $22 ($262/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $340k (5.5% below list).
• Recommended offer: $338k (6.0% below list) — sets the bar for market timing.
• Cap rate 6.4% vs local median 3.7% in Arlington — 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 78/100 on livability (#75 in TX, #2,697 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, housing A+; Watch: schools D+, crime F, commute F.
• Mansfield ISD (suburban): math 47% / reading 53% proficiency, ranked #125 of 826 in TX (top 15%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+3.1%/yr); 98 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 44% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 18,938 units permitted in Tarrant County in 2024 (8,336 in 5+ unit buildings).
• This rent runs 41% of the median local income ($101k/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 $2k of loan paydown is wiped out by about $11k 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 68 days — a 6% lower offer ($338k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 8y ago; this cycle's ask has dropped $24k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• 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.

Recommended offer $338,400 (6.0% below list)

Questions for the listing agent

1. It's been on market 68 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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. 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?
8. 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.
9. 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.
10. 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: 0.95% ✗
• Cap rate: 6.37%
• Cash-on-cash: 0.26%
• DSCR: 1.01
• GRM: 8.8

CMA / ARV

• ARV (median comp): $405,917
• List price: $360,000
• Delta: -11.31%
• 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
605 Jagera Way	0.18mi	5/3.0	3,704 (+5%)	3mo	$445,000	$120	81
616 Bushdale Dr	0.20mi	5/3.0	3,760 (+7%)	2mo	$475,000	$126	78
8109 York Beach Pl	0.48mi	5/3.0	3,523 (-0%)	3mo	$375,000	$106	75
9122 Lockhart Dr	0.32mi	4/2.5 (-1)	3,506 (-1%)	11mo	$425,000	$121	68
8400 Vinetree Dr	0.17mi	5/4.0	3,976 (+13%)	0mo	$450,000	$113	66
505 Boronia Rd	0.38mi	5/3.5	3,223 (-9%)	0mo	$399,000	$124	66
9205 Marble Falls Dr	0.48mi	4/3.5 (-1)	3,617 (+3%)	4mo	$479,000	$132	63
504 Neils Ct	0.51mi	5/3.0	3,214 (-9%)	0mo	$474,900	$148	61
2318 Hillgrove Ct	0.74mi	5/2.5	3,582 (+2%)	4mo	$334,900	$93	57
701 Southwind Dr	0.43mi	4/2.5 (-1)	3,231 (-8%)	12mo	$425,000	$132	49
9324 Shadowfax Dr	0.54mi	4/3.5 (-1)	3,786 (+7%)	9mo	$498,000	$132	48
3 Tims Ct	0.67mi	5/3.5	3,155 (-10%)	12mo	$520,000	$165	40

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 · 3.1% rent growth · sell at horizon

5-year hold

• IRR: -15.7%
• Equity multiple: 0.44×
• Total profit: $-56,441
• Equity at exit: $53,677

10-year hold

• IRR: -7.0%
• Equity multiple: 0.55×
• Total profit: $-45,294
• Equity at exit: $31,126

Cash invested: $100,800 (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 76002

• Home prices YoY: -4.6%
• Rents YoY: 3.1%
• Active inventory: 98
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $3,403 high
• Mortgage (P&I): −$1,888
• Tax from tax record: −$604 /mo · $7,252/yr
• Insurance: −$150
• HOA: −$24
• Vacancy / Maint / Mgmt: −$715
• Net cashflow: $22

Break-even live

Break-even rent $3,375

Max offer price $360,000

Occupancy floor 94%

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: $90,000
• Closing costs: $10,800
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9009 Water Oak Dr Arlington, TX	5.0	3.0	3663	$3,250	$0.89	12d	1	0.17mi
601 Jagera Way Arlington, TX	5.0	2.5	3133	$2,950	$0.94	43d	1	0.23mi
8402 Olivia Meadow Dr Arlington, TX	4.0	2.5	2606	$2,800	$1.07	43d	1	0.32mi
816 White Fields Way Arlington, TX	5.0	4.0	4184	$4,000	$0.96	3d	1	0.35mi
524 Zachum Dr Arlington, TX	4.0	2.5	3142	$2,850	$0.91	43d	1	0.61mi
2707 Whisper Ct Mansfield, TX	5.0	2.5	3132	$2,940	$0.94	22d	1	0.92mi
7718 Water Fowl Trl Arlington, TX	4.0	2.5	3087	$3,040	$0.98	20d	1	1.12mi
1910 Winter Park Dr Mansfield, TX	5.0	2.5	3418	$3,036	$0.89	20d	1	1.21mi
1904 Meera Ln Mansfield, TX	4.0	3.5	3580	$3,500	$0.98	43d	1	1.27mi

HOA detail

• Monthly dues: $24 · $288/yr

Listing history 29 events

1. 2026-06-18
   days on market $360,000 Active 68 DOM
2. 2026-06-17
   days on market $360,000 Active 67 DOM
3. 2026-06-16
   days on market $360,000 Active 66 DOM
4. 2026-06-15
   days on market $360,000 Active 65 DOM
5. 2026-06-13
   days on market $360,000 Active 63 DOM
6. 2026-06-13
   days on market $360,000 Active 62 DOM
7. 2026-06-10
   price $360,000 Active 59 DOM
8. 2026-06-09
   days on market $369,900 Active 59 DOM
9. 2026-06-08
   days on market $369,900 Active 58 DOM
10. 2026-06-07
    days on market $369,900 Active 57 DOM
11. 2026-06-04
    days on market $369,900 Active 54 DOM
12. 2026-06-03
    days on market $369,900 Active 53 DOM
13. 2026-06-02
    days on market $369,900 Active 52 DOM
14. 2026-06-01
    days on market $369,900 Active 51 DOM
15. 2026-05-31
    days on market $369,900 Active 50 DOM
16. 2026-04-26
    price $376,500 927-char remark

    Show marketing remark (927 chars)

    Spacious 5-bedroom, 3-bath home with a flexible layout and strong potential for the next owner to make it their own with interior cosmetic updates. With one bedroom downstairs and the primary plus additional bedrooms upstairs, this floor plan offers a setup that works well for a variety of needs. The home features three living areas, including a second living space upstairs—ideal for a game room, media space, or additional lounge area. There’s plenty of room to spread out and reimagine the space to fit your lifestyle. Located in a well-established neighborhood zoned to highly desired Mansfield ISD schools, with convenient access to shopping, dining, and entertainment. Just minutes from the new Texas Health Mansfield Stadium opening Summer 2026 and Hawaiian Falls Mansfield. If you’re looking for a home with space, location, and the opportunity to update to your own taste, this one is worth a look.

17. 2026-04-10
    listed $384,000 Active 927-char remark

    Show marketing remark (927 chars)

    Spacious 5-bedroom, 3-bath home with a flexible layout and strong potential for the next owner to make it their own with interior cosmetic updates. With one bedroom downstairs and the primary plus additional bedrooms upstairs, this floor plan offers a setup that works well for a variety of needs. The home features three living areas, including a second living space upstairs—ideal for a game room, media space, or additional lounge area. There’s plenty of room to spread out and reimagine the space to fit your lifestyle. Located in a well-established neighborhood zoned to highly desired Mansfield ISD schools, with convenient access to shopping, dining, and entertainment. Just minutes from the new Texas Health Mansfield Stadium opening Summer 2026 and Hawaiian Falls Mansfield. If you’re looking for a home with space, location, and the opportunity to update to your own taste, this one is worth a look.

18. 2026-03-21
    historical $3,499
19. 2026-03-13
    listed $3,499
20. 2018-11-16
    soldstatus
21. 2018-07-31
    soldstatus Sold 499-char remark

    Show marketing remark (499 chars)

    This Beauty is back on the market financing fell thru. 5 bedroom 3 Bath Formal living and dining, Eat in kitchen with built in Microwave which opens to family room with fireplace, Up stairs you have very large game rooms and 4 bedrooms one bedroom and full bath down but it is not the master bedroom, Master bath has separate tub and shower double vanity sinks. Full sized washer-dryer hook ups. New flooring and full paint Large back yard Great house for the money wont last long show and lease.

22. 2018-07-27
    soldstatus
23. 2018-07-01
    status Pending 499-char remark

    Show marketing remark (499 chars)

    This Beauty is back on the market financing fell thru. 5 bedroom 3 Bath Formal living and dining, Eat in kitchen with built in Microwave which opens to family room with fireplace, Up stairs you have very large game rooms and 4 bedrooms one bedroom and full bath down but it is not the master bedroom, Master bath has separate tub and shower double vanity sinks. Full sized washer-dryer hook ups. New flooring and full paint Large back yard Great house for the money wont last long show and lease.

24. 2018-06-21
    status Active 499-char remark

    Show marketing remark (499 chars)

    This Beauty is back on the market financing fell thru. 5 bedroom 3 Bath Formal living and dining, Eat in kitchen with built in Microwave which opens to family room with fireplace, Up stairs you have very large game rooms and 4 bedrooms one bedroom and full bath down but it is not the master bedroom, Master bath has separate tub and shower double vanity sinks. Full sized washer-dryer hook ups. New flooring and full paint Large back yard Great house for the money wont last long show and lease.

25. 2018-05-07
    status Pending 499-char remark

    Show marketing remark (499 chars)

    This Beauty is back on the market financing fell thru. 5 bedroom 3 Bath Formal living and dining, Eat in kitchen with built in Microwave which opens to family room with fireplace, Up stairs you have very large game rooms and 4 bedrooms one bedroom and full bath down but it is not the master bedroom, Master bath has separate tub and shower double vanity sinks. Full sized washer-dryer hook ups. New flooring and full paint Large back yard Great house for the money wont last long show and lease.

26. 2018-04-25
    price $269,900 499-char remark

    Show marketing remark (499 chars)

    This Beauty is back on the market financing fell thru. 5 bedroom 3 Bath Formal living and dining, Eat in kitchen with built in Microwave which opens to family room with fireplace, Up stairs you have very large game rooms and 4 bedrooms one bedroom and full bath down but it is not the master bedroom, Master bath has separate tub and shower double vanity sinks. Full sized washer-dryer hook ups. New flooring and full paint Large back yard Great house for the money wont last long show and lease.

27. 2018-04-16
    price $274,900 499-char remark

    Show marketing remark (499 chars)

    This Beauty is back on the market financing fell thru. 5 bedroom 3 Bath Formal living and dining, Eat in kitchen with built in Microwave which opens to family room with fireplace, Up stairs you have very large game rooms and 4 bedrooms one bedroom and full bath down but it is not the master bedroom, Master bath has separate tub and shower double vanity sinks. Full sized washer-dryer hook ups. New flooring and full paint Large back yard Great house for the money wont last long show and lease.

28. 2018-04-04
    price $279,500 499-char remark

    Show marketing remark (499 chars)

    This Beauty is back on the market financing fell thru. 5 bedroom 3 Bath Formal living and dining, Eat in kitchen with built in Microwave which opens to family room with fireplace, Up stairs you have very large game rooms and 4 bedrooms one bedroom and full bath down but it is not the master bedroom, Master bath has separate tub and shower double vanity sinks. Full sized washer-dryer hook ups. New flooring and full paint Large back yard Great house for the money wont last long show and lease.

29. 2018-03-14
    listed $285,000 Active 499-char remark

    Show marketing remark (499 chars)

    This Beauty is back on the market financing fell thru. 5 bedroom 3 Bath Formal living and dining, Eat in kitchen with built in Microwave which opens to family room with fireplace, Up stairs you have very large game rooms and 4 bedrooms one bedroom and full bath down but it is not the master bedroom, Master bath has separate tub and shower double vanity sinks. Full sized washer-dryer hook ups. New flooring and full paint Large back yard Great house for the money wont last long show and lease.

ⓘ 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: $7,252 · $604/mo
• Projected year-2 tax: $7,252 · $604/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 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥110°F today · 24 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $40,831
• − Mortgage interest: −$20,166
• − Property taxes: −$7,252
• − Insurance: −$1,800
• − Repairs & maintenance: −$3,266
• − Management: −$3,266
• − HOA: −$288
• − Depreciation: −$10,473
• Taxable loss: −$5,680
• Est. tax savings @ 24.0%: +$1,363
• After-tax cash flow: $1,625/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: Mansfield ISD
• NCES district ID: 4828920
• Math proficiency: 47% ▼ -17.00%
• Reading proficiency: 53% ▼ -6.00%
• Median HH income: $81,934
• Composite: 45.82/100
• National rank: #2558
• State rank: #125 of 826 in TX

Livability — Arlington

• Score: 78/100
• State rank: #75
• US rank: #2697

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Arlington, TX
• County: Tarrant County · 2,033,669 people
• City population: 366,588
• Metro: Dallas-Fort Worth-Arlington, TX
• Population (ZIP): 35,265
• Household income: $100,667
• Rent vs Own: 19.5% rent · 80.5% own
• Severe rent burden: 566.0

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: Highly diverse neighborhood (Simpson 0.74)
• Race & ethnicity: Black 35% White 26% Hispanic / Latino 24% Asian 11% Two or more races 11%
• Hispanic origin (detail): Mexican 16% Puerto Rican 3%
• Common ancestry: Swedish 1% Slovak 1% Arab 1%
• Foreign-born: 25% · Canada, Vietnam, China
• Languages at home: 62% English-only · Spanish 15% Vietnamese 7% Arabic 5%

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: ▼ -12.36%
• Current HPI: 256.7208
• Rent YoY: ▲ 3.10%
• 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

+32.1% since first listed

14 events — show timeline

• 2026-04-26 Price Changed $376,500 NTREIS
• 2026-04-10 Listed $384,000 NTREIS
• 2026-03-21 Rental Removed $3,499 Tricon
• 2026-03-13 Listed for Rent $3,499 Tricon
• 2018-11-16 Sold (Public Records) — Public Records
• 2018-07-31 Sold (MLS) — NTREIS
• 2018-07-27 Sold (Public Records) — Public Records
• 2018-07-01 Pending — NTREIS
• 2018-06-21 Relisted — NTREIS
• 2018-05-07 Pending — NTREIS
• 2018-04-25 Price Changed $269,900 NTREIS
• 2018-04-16 Price Changed $274,900 NTREIS
• 2018-04-04 Price Changed $279,500 NTREIS
• 2018-03-14 Listed $285,000 NTREIS

Property tax history

+3.1%/yr

Latest (2025): $7,252 · -23.1% YoY. Source: county tax records.