1723 Crest Grove Dr Unit 120B · Arlington, TX 76012

$93,000

2 bd · 1.0 ba · 641 sqft · Condo public records · 86 Days on market

Built 1983 $145/sqft · 18% below area Est $113k · 18% under $215/mo HOA · 17% of rent

---

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 +22.0/30.0
• ARV discount +15.0/15.0
• 1% rule +8.4/10.0
• DSCR +7.0/10.0
• Livability +3.9/5.0
• Rent growth +3.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This first floor condominium unit has new carpeting throughout and is ready for immediate occupancy. Whether you are a first-time buyer, downsizing, or looking for an investment opportunity, this property offers exceptional value with a convenient location close to major highways, shopping, and the university.

Key facts

• New carpeting
• Close to university
• Convenient location

Tags

• FIRST FLOOR CONDOMINIUM
• NEW CARPETING
• CONVENIENT LOCATION
• CLOSE TO MAJOR HIGHWAYS
• CLOSE TO SHOPPING
• CLOSE TO UNIVERSITY

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $93k.

Deal economics

• At list price, monthly cash flow is $149 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $93k).
• Recommended offer: $87k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.2% 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.
• Arlington ISD (urban): math 24% / reading 34% proficiency, ranked #629 of 826 in TX (top 76%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising (+4.0%/yr); 144 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 43% 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 is only 17% of the median local income ($88k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $643 of loan paydown is wiped out by about $3k 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 86 days — a 6% lower offer ($87k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $87,420 (6.0% below list)

Questions for the listing agent

1. It's been on market 86 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. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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 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: 1.34% ✓
• Cap rate: 8.21%
• Cash-on-cash: 6.85%
• DSCR: 1.30
• GRM: 6.2

CMA / ARV

• ARV (median comp): $113,007
• List price: $93,000
• Delta: -13.28%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.98% rent growth · sell at horizon

5-year hold

• IRR: -4.3%
• Equity multiple: 0.84×
• Total profit: $-4,228
• Equity at exit: $13,867

10-year hold

• IRR: 6.9%
• Equity multiple: 1.55×
• Total profit: $14,242
• Equity at exit: $8,041

Cash invested: $26,040 (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 76012

• Rents YoY: 4.0%
• Active inventory: 144
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,243 high
• Mortgage (P&I): −$488
• Tax from tax record: −$92 /mo · $1,099/yr
• Insurance: −$39
• HOA: −$215
• Vacancy / Maint / Mgmt: −$261
• Net cashflow: $149

Break-even live

Break-even rent $1,054

Max offer price $93,000

Occupancy floor 83%

Sensitivity live

Price	-10% $201	-5% $175	+0% $149	+5% $122	+10% $96
Rent	-10% $51	-5% $100	+0% $149	+5% $198	+10% $247
Rate	-1.0pp $196	-0.5pp $172	base $149	+0.5pp $125	+1.0pp $100

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: $23,250
• Closing costs: $2,790
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1741 Crest Grove Dr Arlington, TX	2.0	1.0	696	$1,050	$1.51	44d	1	0.06mi
1728 Crest Point Dr Arlington, TX	1.0	1.0	641	$1,100	$1.72	44d	1	0.07mi
1727 Westview Ter Arlington, TX	1.0–2.0	1.5	859	$1,772	$2.06	3d	10	0.27mi
1731 Westview Ter Arlington, TX	1.0	1.0	692	$1,060	$1.53	44d	1	0.27mi
1724 W Sanford St Unit D Arlington, TX	1.0	1.0	620	$1,150	$1.85	2d	1	0.31mi
2001 Wesley Dr Apt A Arlington, TX	1.0	1.0	674	$995	$1.48	44d	1	0.49mi
613 S Fielder Rd Arlington, TX	2.0	1.0	640	$1,325	$2.07	8d	1	0.54mi
412 Summit Ave Arlington, TX	1.0–2.0	1.0–1.5	962	$1,250	$1.30	2d	10	0.71mi
412 Summit Ave Arlington, TX	1.0–2.0	1.0	830	$1,375	$1.66	44d	4	0.71mi
1608 Pecan Chase Cir Arlington, TX	1.0	1.0	627	$1,995	$3.18	44d	1	0.76mi
1608 Pecan Chase Cir Arlington, TX	1.0–2.0	1.0	751	$1,795	$2.39	13d	2	0.76mi
905 W Abram St Unit 4 Arlington, TX	1.0	1.0	641	$1,445	$2.25	8d	1	0.83mi
1736 W Randol Mill Rd Arlington, TX	2.0	1.0–2.0	629	$1,825	$2.90	14d	1	0.83mi
1112 W 4th St Arlington, TX	1.0	1.0	600	$575	$0.96	25d	1	0.86mi
509 Sandpiper Dr W Arlington, TX	1.0	1.0	578	$966	$1.67	2d	10	0.87mi
505 N Bowen Rd Arlington, TX	1.0–2.0	1.0	610	$1,085	$1.78	2d	11	0.92mi
807 Bowie St Unit B Arlington, TX	1.0	1.0	500	$895	$1.79	15d	1	1.00mi
513 S Bowen Rd Apt K Arlington, TX	1.0	1.0	750	$850	$1.13	44d	1	1.03mi
212 S Cooper St Arlington, TX	1.0	1.0	640	$1,109	$1.73	16d	1	1.07mi
212 S Cooper St Arlington, TX	1.0	1.0	640	$1,099	$1.72	44d	1	1.07mi
1000 W Mitchell St Arlington, TX	1.0–2.0	1.0–1.5	865	$1,250	$1.45	3d	25	1.12mi
515 UTA Blvd Unit 102 Arlington, TX	1.0	1.0	475	$800	$1.68	44d	1	1.21mi
515 Uta Blvd Arlington, TX	1.0	1.0	450	$850	$1.89	44d	1	1.21mi
1600 Jones Dr Arlington, TX	1.0–2.0	1.0–2.0	840	$1,275	$1.52	44d	10	1.26mi
308 S West St Arlington, TX	1.0	1.0	580	$899	$1.55	15d	1	1.30mi
425 S Oak St Unit 101 Arlington, TX	1.0	1.0	570	$995	$1.75	44d	1	1.42mi
501 Fuller St Arlington, TX	1.0–2.0	1.0–2.0	773	$1,595	$2.06	44d	29	1.43mi
2800 Lynnwood Dr Arlington, TX	2.0	1.0–2.0	855	$1,605	$1.88	2d	26	1.45mi
507 N Oak St Arlington, TX	1.0	1.0	512	$1,045	$2.04	25d	2	1.45mi
507 Cora St Arlington, TX	1.0–2.0	1.0–1.5	875	$1,450	$1.66	14d	5	1.46mi

HOA detail condo

• Monthly dues: $215 · $2,580/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-18
   price $93,000 Active 86 DOM
2. 2026-06-18
   days on market $98,000 Active 86 DOM
3. 2026-06-17
   days on market $98,000 Active 85 DOM
4. 2026-06-16
   days on market $98,000 Active 84 DOM
5. 2026-06-15
   days on market $98,000 Active 83 DOM
6. 2026-06-13
   days on market $98,000 Active 81 DOM
7. 2026-06-09
   days on market $98,000 Active 77 DOM
8. 2026-06-08
   days on market $98,000 Active 76 DOM
9. 2026-06-07
   days on market $98,000 Active 75 DOM
10. 2026-06-04
    days on market $98,000 Active 72 DOM
11. 2026-06-03
    days on market $98,000 Active 71 DOM
12. 2026-06-02
    days on market $98,000 Active 70 DOM
13. 2026-06-01
    days on market $98,000 Active 69 DOM
14. 2026-05-31
    days on market $98,000 Active 68 DOM
15. 2026-03-24
    listed $98,000 Active 311-char remark

    Show marketing remark (311 chars)

    This first floor condominium unit has new carpeting throughout and is ready for immediate occupancy. Whether you are a first-time buyer, downsizing, or looking for an investment opportunity, this property offers exceptional value with a convenient location close to major highways, shopping, and the university.

16. 2018-12-03
    soldstatus
17. 1987-10-07
    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: $1,099 · $92/mo
• Projected year-2 tax: $1,702 · $142/mo
• Expected delta: +$603/yr (+$50/mo · 54.9%)

ⓘ 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 ≥109°F today · 23 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 · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,911
• − Mortgage interest: −$5,209
• − Property taxes: −$1,099
• − Insurance: −$465
• − Repairs & maintenance: −$1,193
• − Management: −$1,193
• − HOA: −$2,580
• − Depreciation: −$2,705
• Taxable income: $467
• Est. tax owed @ 24.0%: −$112
• After-tax cash flow: $1,672/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: Arlington ISD
• NCES district ID: 4808700
• Math proficiency: 24% ▼ -21.00%
• Reading proficiency: 34% ▼ -8.00%
• Median HH income: $50,873
• Composite: 25.42/100
• National rank: #7458
• State rank: #629 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): 27,991
• Household income: $88,141
• Rent vs Own: 33.0% rent · 67.0% own
• Severe rent burden: 1121.0

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 0.65)
• Race & ethnicity: White 46% Hispanic / Latino 34% Two or more races 20% Black 15% Asian 2%
• Hispanic origin (detail): Mexican 25% Cuban 3%
• Common ancestry: Slovak 2% Italian 2% Lithuanian 1%
• Foreign-born: 20% · Canada, Jamaica
• Languages at home: 68% English-only · Spanish 27% French/Haitian/Cajun 2% 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: ▼ -281.05%
• Current HPI: 259.0255
• Rent YoY: ▲ 3.98%
• 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

3 events — show timeline

• 2026-03-24 Listed $98,000 NTREIS
• 2018-12-03 Sold (Public Records) — Public Records
• 1987-10-07 Sold (Public Records) — Public Records

Property tax history

+3.3%/yr

Latest (2025): $1,099 · +10.0% YoY. Source: county tax records.