4509 Sandage Ave · Fort Worth, TX 76115

$160,000

3 bd · 1.0 ba · 1,132 sqft · SingleFamily public records · 85 Days on market

Built 1954 7,013 sqft lot $141/sqft · 16% below area Est $190k · 16% under ↓ 28% since listing

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Why this score? — see what drove the C 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 +19.2/30.0
• ARV discount +14.6/15.0
• 1% rule +6.1/10.0
• DSCR +6.1/10.0
• 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

Fort Worth investment opportunity in a high-demand Section 8 area! This vacant, value-add property is sold strictly AS-IS and subject to third-party approval. Perfect for investors looking to expand their rental portfolio with a recession-resistant asset, this home offers a functional layout and a solid foundation for your custom updates. Benefit from the reliable, government-backed cash flow that the local housing voucher market provides. The property features a spacious living area, well-sized bedrooms, and a large backyard with immense potential for equity-building improvements. Conveniently located near major Fort Worth highways, shopping, and dining, it’s an ideal location for long-term tenant retention. The seller will make no repairs and seeks a buyer comfortable with third-party timelines. Submit your highest and best offer today!

Key facts

• Generous lot
• Mature surroundings
• Functional layout

Tags

• FORT WORTH NEIGHBORHOOD
• FUNCTIONAL LAYOUT
• SPACIOUS LIVING AREAS
• GENEROUS LOT
• MATURE SURROUNDINGS
• MAJOR HIGHWAYS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $174 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $150k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.6% 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: 31 active listings in the ZIP; 37 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 18,938 units permitted in Tarrant County in 2024 (8,336 in 5+ unit buildings).
• This rent runs 41% of the median local income ($52k/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 $1k of loan paydown is wiped out by about $5k 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 85 days — a 6% lower offer ($150k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1954 — 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 $150,400 (6.0% below list)

Questions for the listing agent

1. It's been on market 85 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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 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: 1.11% ✓
• Cap rate: 7.60%
• Cash-on-cash: 4.65%
• DSCR: 1.21
• GRM: 7.5

CMA / ARV

• ARV (median comp): $189,867
• List price: $160,000
• Delta: -15.73%
• 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
4425 Sandage Ave	0.06mi	4/1.0 (+1)	1,113 (-2%)	9mo	$179,800	$162	82
2904 Creston Ave	0.44mi	3/1.0	1,080 (-5%)	2mo	$219,000	$203	70
2805 Cordone St	0.55mi	3/2.0	1,126 (-0%)	6mo	$205,000	$182	64
4709 Mccart Ave	0.21mi	3/1.0	983 (-13%)	7mo	$165,750	$169	63
4429 Rutland Ave	0.44mi	2/2.0 (-1)	1,186 (+5%)	4mo	$195,000	$164	59
4836 Sandage Ave	0.38mi	3/2.0	995 (-12%)	6mo	$225,000	$226	53
4505 Stadium Dr	0.61mi	3/1.0	1,042 (-8%)	9mo	$207,900	$200	51
4417 Odessa Ave	0.50mi	4/2.0 (+1)	1,231 (+9%)	3mo	$245,000	$199	50
4924 Sandage Ave	0.48mi	3/2.0	983 (-13%)	6mo	$157,000	$160	46
4416 Surrey St	0.69mi	3/1.0	1,034 (-9%)	9mo	$199,750	$193	46
2720 Martin Lydon Ave	0.45mi	3/2.0	1,291 (+14%)	8mo	$249,997	$194	44
5050 Lubbock Ave	0.64mi	3/1.5	1,271 (+12%)	8mo	$200,000	$157	41

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -9.0%
• Equity multiple: 0.67×
• Total profit: $-14,764
• Equity at exit: $23,857

10-year hold

• IRR: 0.6%
• Equity multiple: 1.04×
• Total profit: $1,800
• Equity at exit: $13,834

Cash invested: $44,800 (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 76115

• Home prices YoY: -6.0%
• Active inventory: 31
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,774 high
• Mortgage (P&I): −$839
• Tax from tax record: −$322 /mo · $3,862/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$372
• Net cashflow: $174

Break-even live

Break-even rent $1,554

Max offer price $160,000

Occupancy floor 85%

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 37 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2800 W Fuller Ave Fort Worth, TX	3.0	1.5	1161	$1,650	$1.42	43d	1	0.24mi
2908 Binyon Ave Fort Worth, TX	3.0	1.0	1249	$1,775	$1.42	24d	1	0.35mi
3104 Medina Ave Fort Worth, TX	3.0	2.0	1355	$1,850	$1.37	22d	1	0.46mi
4201 William Fleming Ct W Fort Worth, TX	2.0	1.5–2.0	865	$1,450	$1.68	1d	104	0.48mi
4113 McCart Ave Fort Worth, TX	2.0	1.0	807	$1,375	$1.70	43d	1	0.49mi
3259 Binyon Ave Fort Worth, TX	3.0	1.0	1260	$2,200	$1.75	13d	1	0.57mi
4904 Odessa Ave Fort Worth, TX	3.0	2.0	1360	$2,050	$1.51	24d	1	0.66mi
4256 Standish Rd Fort Worth, TX	3.0	2.0	1392	$1,650	$1.19	24d	1	0.79mi
3401 Leith Ave Fort Worth, TX	3.0	2.0	1425	$1,800	$1.26	4d	1	0.88mi
4318 Baldwin Ave Fort Worth, TX	2.0	1.0	730	$1,399	$1.92	43d	1	0.92mi
4316 Baldwin Ave Fort Worth, TX	2.0	1.0	730	$1,399	$1.92	43d	3	0.93mi
4129 Winfield Ave Fort Worth, TX	3.0	2.0	1465	$2,580	$1.76	2d	1	0.94mi
4321 Baldwin Ave Fort Worth, TX	2.0	1.0	730	$1,399	$1.92	43d	1	0.95mi
4317 Baldwin Ave Fort Worth, TX	1.0–2.0	1.0	642	$1,399	$2.18	43d	2	0.96mi
4228 Winfield Ave Fort Worth, TX	4.0	2.0	1486	$3,500	$2.36	18d	1	1.06mi
1000 W Hammond St Fort Worth, TX	2.0	1.0	900	$1,600	$1.78	24d	1	1.10mi
4317 Clay Ave Fort Worth, TX	3.0	1.0	1240	$1,995	$1.61	24d	1	1.11mi
4152 Anita Ave Fort Worth, TX	2.0	1.0	1112	$1,995	$1.79	18d	1	1.12mi
2809 South Hills Ave Fort Worth, TX	3.0	2.0	1203	$1,650	$1.37	43d	1	1.22mi
2809 South Hills Ave Fort Worth, TX	3.0	2.0	1203	$1,650	$1.37	18d	1	1.22mi
5612 James Ave Fort Worth, TX	1.0–3.0	1.0–2.0	824	$1,700	$2.06	3d	8	1.24mi
3559 Norfolk Rd Fort Worth, TX	2.0	1.0	1223	$2,100	$1.72	43d	1	1.31mi
3437 Stanley Ave Fort Worth, TX	2.0	1.0	1000	$1,500	$1.50	43d	1	1.34mi
1232 Cameron St Fort Worth, TX	3.0	1.0	1168	$1,595	$1.37	17d	1	1.34mi
1232 Cameron St Fort Worth, TX	3.0	1.0	1168	$1,595	$1.37	43d	1	1.34mi
3745 Willomet Ave Fort Worth, TX	3.0	2.0	1302	$1,795	$1.38	6d	1	1.36mi
3419 S University Dr Unit D Fort Worth, TX	2.0	1.0	900	$1,095	$1.22	16d	1	1.37mi
3417 S University Dr Unit D Fort Worth, TX	2.0	1.0	900	$1,235	$1.37	43d	1	1.38mi
3417 S University Dr Unit A Fort Worth, TX	2.0	1.0	1059	$1,095	$1.03	4d	1	1.38mi
2505 Benbrook Blvd Unit 503 Fort Worth, TX	3.0	3.0	1367	$2,495	$1.83	43d	1	1.42mi
3324 S University Dr Unit Down Fort Worth, TX	2.0	2.0	1312	$1,600	$1.22	4d	1	1.43mi
3411 8th Ave Fort Worth, TX	3.0	2.0	1280	$1,700	$1.33	4d	1	1.44mi
1205 Hamsted St Fort Worth, TX	2.0	1.0	768	$1,590	$2.07	22d	1	1.45mi
3301 S University Dr Unit C Fort Worth, TX	2.0	1.0	800	$1,500	$1.88	24d	1	1.47mi
3827 Cornish Ave Fort Worth, TX	3.0	2.0	1428	$1,299	$0.91	4d	1	1.48mi
3259 S University Dr Unit A Fort Worth, TX	3.0	3.0	1490	$2,495	$1.67	43d	1	1.49mi
3241 Sandage Ave Fort Worth, TX	3.0	2.0	1115	$3,000	$2.69	18d	1	1.49mi

Listing history 19 events

1. 2026-06-18
   days on market $160,000 Active 85 DOM
2. 2026-06-17
   days on market $160,000 Active 84 DOM
3. 2026-06-16
   days on market $160,000 Active 83 DOM
4. 2026-06-15
   days on market $160,000 Active 82 DOM
5. 2026-06-13
   pricedays on market $160,000 Active 80 DOM
6. 2026-06-09
   days on market $175,000 Active 76 DOM
7. 2026-06-08
   days on market $175,000 Active 75 DOM
8. 2026-06-07
   days on market $175,000 Active 74 DOM
9. 2026-06-04
   days on market $175,000 Active 71 DOM
10. 2026-06-03
    days on market $175,000 Active 70 DOM
11. 2026-06-02
    days on market $175,000 Active 69 DOM
12. 2026-06-02
    days on market $175,000 Active 68 DOM
13. 2026-05-31
    days on market $175,000 Active 67 DOM
14. 2026-05-15
    price $175,000 859-char remark

    Show marketing remark (859 chars)

    Fort Worth investment opportunity in a high-demand Section 8 area! This vacant, value-add property is sold strictly AS-IS and subject to third-party approval. Perfect for investors looking to expand their rental portfolio with a recession-resistant asset, this home offers a functional layout and a solid foundation for your custom updates. Benefit from the reliable, government-backed cash flow that the local housing voucher market provides. The property features a spacious living area, well-sized bedrooms, and a large backyard with immense potential for equity-building improvements. Conveniently located near major Fort Worth highways, shopping, and dining, it’s an ideal location for long-term tenant retention. The seller will make no repairs and seeks a buyer comfortable with third-party timelines. Submit your highest and best offer today!

15. 2026-05-08
    price $185,000 859-char remark

    Show marketing remark (859 chars)

    Fort Worth investment opportunity in a high-demand Section 8 area! This vacant, value-add property is sold strictly AS-IS and subject to third-party approval. Perfect for investors looking to expand their rental portfolio with a recession-resistant asset, this home offers a functional layout and a solid foundation for your custom updates. Benefit from the reliable, government-backed cash flow that the local housing voucher market provides. The property features a spacious living area, well-sized bedrooms, and a large backyard with immense potential for equity-building improvements. Conveniently located near major Fort Worth highways, shopping, and dining, it’s an ideal location for long-term tenant retention. The seller will make no repairs and seeks a buyer comfortable with third-party timelines. Submit your highest and best offer today!

16. 2026-05-04
    price $195,000 859-char remark

    Show marketing remark (859 chars)

    Fort Worth investment opportunity in a high-demand Section 8 area! This vacant, value-add property is sold strictly AS-IS and subject to third-party approval. Perfect for investors looking to expand their rental portfolio with a recession-resistant asset, this home offers a functional layout and a solid foundation for your custom updates. Benefit from the reliable, government-backed cash flow that the local housing voucher market provides. The property features a spacious living area, well-sized bedrooms, and a large backyard with immense potential for equity-building improvements. Conveniently located near major Fort Worth highways, shopping, and dining, it’s an ideal location for long-term tenant retention. The seller will make no repairs and seeks a buyer comfortable with third-party timelines. Submit your highest and best offer today!

17. 2026-04-24
    price $218,000 859-char remark

    Show marketing remark (859 chars)

    Fort Worth investment opportunity in a high-demand Section 8 area! This vacant, value-add property is sold strictly AS-IS and subject to third-party approval. Perfect for investors looking to expand their rental portfolio with a recession-resistant asset, this home offers a functional layout and a solid foundation for your custom updates. Benefit from the reliable, government-backed cash flow that the local housing voucher market provides. The property features a spacious living area, well-sized bedrooms, and a large backyard with immense potential for equity-building improvements. Conveniently located near major Fort Worth highways, shopping, and dining, it’s an ideal location for long-term tenant retention. The seller will make no repairs and seeks a buyer comfortable with third-party timelines. Submit your highest and best offer today!

18. 2026-04-16
    price $229,900 859-char remark

    Show marketing remark (859 chars)

    Fort Worth investment opportunity in a high-demand Section 8 area! This vacant, value-add property is sold strictly AS-IS and subject to third-party approval. Perfect for investors looking to expand their rental portfolio with a recession-resistant asset, this home offers a functional layout and a solid foundation for your custom updates. Benefit from the reliable, government-backed cash flow that the local housing voucher market provides. The property features a spacious living area, well-sized bedrooms, and a large backyard with immense potential for equity-building improvements. Conveniently located near major Fort Worth highways, shopping, and dining, it’s an ideal location for long-term tenant retention. The seller will make no repairs and seeks a buyer comfortable with third-party timelines. Submit your highest and best offer today!

19. 2026-03-24
    listed $242,000 Active 859-char remark

    Show marketing remark (859 chars)

    Fort Worth investment opportunity in a high-demand Section 8 area! This vacant, value-add property is sold strictly AS-IS and subject to third-party approval. Perfect for investors looking to expand their rental portfolio with a recession-resistant asset, this home offers a functional layout and a solid foundation for your custom updates. Benefit from the reliable, government-backed cash flow that the local housing voucher market provides. The property features a spacious living area, well-sized bedrooms, and a large backyard with immense potential for equity-building improvements. Conveniently located near major Fort Worth highways, shopping, and dining, it’s an ideal location for long-term tenant retention. The seller will make no repairs and seeks a buyer comfortable with third-party timelines. Submit your highest and best offer today!

ⓘ 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: $3,862 · $322/mo
• Projected year-2 tax: $3,862 · $322/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 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 22 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: $21,284
• − Mortgage interest: −$8,962
• − Property taxes: −$3,862
• − Insurance: −$800
• − Repairs & maintenance: −$1,703
• − Management: −$1,703
• − Depreciation: −$4,655
• Taxable loss: −$400
• Est. tax savings @ 24.0%: +$96
• After-tax cash flow: $2,180/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): 19,655
• Household income: $52,411
• Rent vs Own: 53.2% rent · 46.8% own
• Severe rent burden: 859.0

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: Predominantly Hispanic (72%)
• Race & ethnicity: Hispanic / Latino 72% Two or more races 35% White 11% Black 11% Asian 5%
• Hispanic origin (detail): Mexican 66%
• Common ancestry: Italian 1% Arab 1%
• Foreign-born: 36% · Canada, South Korea, China
• Languages at home: 32% English-only · Spanish 62% Korean 3% Arabic 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: ▼ -23.05%
• Current HPI: 363.5732
• Rent YoY: —
• 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

-27.7% since first listed

6 events — show timeline

• 2026-05-15 Price Changed $175,000 NTREIS
• 2026-05-08 Price Changed $185,000 NTREIS
• 2026-05-04 Price Changed $195,000 NTREIS
• 2026-04-24 Price Changed $218,000 NTREIS
• 2026-04-16 Price Changed $229,900 NTREIS
• 2026-03-24 Listed $242,000 NTREIS

Property tax history

+6.1%/yr

Latest (2025): $3,862 · -12.2% YoY. Source: county tax records.