6406 Nicole Way · Arlington, TX 76002

$250,000

3 bd · 2.0 ba · 1,431 sqft · SingleFamily public records · 20 Days on market

Built 1995 6,011 sqft lot Est $296k · 16% under

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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).

• ARV discount +14.5/15.0
• Cash flow +12.2/30.0
• 1% rule +4.3/10.0
• Livability +3.9/5.0
• DSCR +3.6/10.0
• Rent growth +3.3/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Opportunity awaits with this 3-bedroom, 2-bathroom home with plenty of outdoor space and potential. The property offers a functional layout and solid footprint, making it an excellent option for investors, flippers, or buyers looking to take on a renovation project and make it their own. The home does need repairs and updating and is being sold as-is, but with the right vision and improvements, there’s a great opportunity to add value and bring new life to the property. Cash only. Carpet is missing in one bedroom and sellers will not pay for lender required repairs.

Key facts

• 6,011 sq ft lot
• 2 garage spots
• Built 1995

Property features AI

Finance

• Other: Deed restrictions; Municipal utility district: No
• Financial info: Listing terms: cash
• HOA & community: No homeowners association; Community features include curbs and sidewalks

Exterior

• Parking: Attached 2-car garage (garage faces front) ; Covered parking for 2 vehicles; Driveway; Garage with 2-car double doors (approx. 19' wide by 18' deep)
• Security: Security features: unknown
• Utilities: City water; City sewer; Electricity connected; Cable available; Curbs and sidewalks
• Home design: Single-family residence (residential); Attached property; One story
• Construction: Built in 1995; Brick and siding construction; Composition roof; Slab foundation
• Exterior features: Wood fencing; Interior lot; Easements for utilities

Interior

• Kitchen: Built-in cabinets; Dishwasher; Disposal; Electric cooktop; Electric oven
• Bedrooms: 3 bedrooms, all on the main level; Primary bedroom on main level with ensuite bathroom
• Flooring: Carpet; Luxury vinyl plank
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air; Ceiling fans
• Interior features: Open floorplan; Cable TV available; High-speed internet available; One living area; One dining area; Fireplace in living room; 7 total rooms
• Laundry & utility: Utility room with washer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $-48 ($-581/yr) — negative.
• To cash-flow at today's rent, offer at most $241k (3.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $233k (6.6% below list).
• Recommended offer: $233k (6.6% below list) — sets the bar for 1% rule.
• Cap rate 6.1% 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: 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.
• Zoned schools: Ashworth El (math 27% / reading 32%, grade F, #2,525 of 4,322 statewide, top 62%, 467 students, 77% FRL) — zoned schools average 77% FRL vs 60% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.1%/yr); 98 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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 20 days — a 2% lower offer ($246k) 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 $233,417 (6.6% below list)

Questions for the listing agent

1. 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?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.93% ✗
• Cap rate: 6.06%
• Cash-on-cash: -0.83%
• DSCR: 0.96
• GRM: 8.9

CMA / ARV

• ARV (on-the-fly): $296,217
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6423 Rising Meadow Dr	0.27mi	3/2.0	1,435 (+0%)	4mo	$269,900	$188	84
6418 Jennie Ln	0.10mi	3/2.0	1,276 (-11%)	3mo	$270,000	$212	75
424 Benjamin Ln	0.37mi	3/2.0	1,355 (-5%)	2mo	$279,900	$207	72
5711 Congressional Dr	0.62mi	3/2.0	1,429 (-0%)	4mo	$285,000	$199	68
615 Red Coat Ln	0.18mi	3/2.0	1,254 (-12%)	4mo	$270,000	$215	68
304 Valley Forge Ln	0.59mi	3/2.0	1,393 (-3%)	1mo	$299,500	$215	67
6118 Wall St	0.62mi	3/2.0	1,468 (+3%)	2mo	$290,000	$198	65
6622 Fairglen Dr	0.70mi	3/2.0	1,450 (+1%)	0mo	$284,500	$196	65
709 S Emma Dr	0.36mi	3/2.0	1,638 (+14%)	2mo	$330,000	$201	57
319 Faircrest Dr	0.65mi	3/2.0	1,320 (-8%)	3mo	$287,000	$217	54
6207 Patriotic Ct	0.72mi	3/2.0	1,301 (-9%)	2mo	$285,000	$219	50
1201 Eastwick Dr	0.68mi	3/2.0	1,595 (+12%)	1mo	$289,000	$181	48

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: -17.5%
• Equity multiple: 0.38×
• Total profit: $-43,225
• Equity at exit: $37,276

10-year hold

• IRR: -9.2%
• Equity multiple: 0.43×
• Total profit: $-40,093
• Equity at exit: $21,615

Cash invested: $70,000 (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 76002

• Home prices YoY: -4.6%
• Rents YoY: 3.1%
• Active inventory: 98
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $2,334 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$477 /mo · $5,727/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$490
• Net cashflow: $-48

Break-even live

Break-even rent $2,396

Max offer price $241,440

Occupancy floor 97%

Sensitivity live

Price	-10% $93	-5% $22	+0% $-48	+5% $-119	+10% $-190
Rent	-10% $-233	-5% $-141	+0% $-48	+5% $44	+10% $136
Rate	-1.0pp $77	-0.5pp $15	base $-48	+0.5pp $-113	+1.0pp $-179

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6403 Jennie Ln Arlington, TX	3.0	2.0	1491	$2,400	$1.61	44d	1	0.08mi
6410 Juliette Run Arlington, TX	3.0	2.0	1563	$2,009	$1.29	12d	1	0.11mi
6202 Tidewater Dr Arlington, TX	3.0	2.0	1424	$2,100	$1.47	20d	1	0.20mi
708 Port Richmond Way Arlington, TX	3.0	2.0	1180	$1,900	$1.61	11d	1	0.20mi
850 Colson Dr Arlington, TX	3.0	2.0	1350	$2,095	$1.55	44d	1	0.22mi
734 Port Richmond Way Arlington, TX	3.0	2.0	1424	$2,050	$1.44	44d	1	0.23mi
6111 Inks Lake Dr Arlington, TX	3.0	2.0	1521	$2,165	$1.42	44d	1	0.29mi
6002 Cohoke Dr Arlington, TX	3.0	2.0	1575	$2,050	$1.30	44d	1	0.31mi
6101 Summerfield Dr Arlington, TX	3.0	2.0	1575	$2,440	$1.55	7d	1	0.31mi
6010 Rocky Point Dr Arlington, TX	3.0	2.0	1712	$2,100	$1.23	15d	1	0.34mi
6010 Rocky Point Dr Arlington, TX	3.0	2.0	1712	$2,100	$1.23	17d	1	0.34mi
700 N Emma Dr Arlington, TX	3.0	2.0	1830	$2,850	$1.56	20d	1	0.34mi
6002 Rising Meadow Dr Arlington, TX	3.0	2.0	1864	$2,750	$1.48	44d	1	0.36mi
420 Revolution Ln Arlington, TX	4.0	2.0	1712	$1,995	$1.17	3d	1	0.40mi
517 Valley Mills Dr Arlington, TX	3.0	2.0	1200	$1,800	$1.50	44d	1	0.42mi
1100 Mapleview Dr Arlington, TX	3.0	2.0	1580	$2,098	$1.33	44d	1	0.50mi
6306 Pilgrim Ln Arlington, TX	3.0	2.0	1197	$1,885	$1.57	44d	1	0.53mi
6000 Lavaca Dr Arlington, TX	3.0	2.0	1559	$2,046	$1.31	7d	1	0.54mi
325 Angelina Dr Arlington, TX	3.0	2.0	1441	$1,900	$1.32	7d	1	0.60mi
327 Moss Hill Dr Arlington, TX	3.0	2.0	1575	$2,079	$1.32	44d	1	0.64mi
323 Moss Hill Dr Arlington, TX	3.0	2.0	1053	$1,900	$1.80	7d	1	0.66mi
6707 Classen Trl Arlington, TX	3.0	2.0	1777	$2,600	$1.46	44d	1	0.76mi
101 Colony Dr Arlington, TX	3.0	2.0	1400	$2,055	$1.47	44d	1	0.78mi
6406 Brookglen Dr Arlington, TX	3.0	2.0	1320	$2,185	$1.66	44d	1	0.83mi
216 Caprock Dr Arlington, TX	3.0	2.0	1211	$1,850	$1.53	4d	1	0.83mi
216 Caprock Dr Arlington, TX	3.0	2.0	1211	$1,850	$1.53	17d	1	0.83mi
706 Langford Dr Arlington, TX	3.0	2.0	1651	$2,200	$1.33	2d	1	0.84mi
318 Spanish Moss Dr Arlington, TX	3.0	2.5	1600	$2,050	$1.28	44d	1	0.86mi
6323 Brookbriar Ct Arlington, TX	3.0	2.0	1575	$2,727	$1.73	45d	1	0.90mi
6323 Brookbriar Ct Arlington, TX	3.0	2.0	1575	$3,312	$2.10	22d	1	0.90mi
734 Bonnet Trl Arlington, TX	2.0	2.5	1636	$2,199	$1.34	22d	1	0.90mi
1407 Autumncrest Dr #5 Arlington, TX	3.0	2.0	1739	$2,400	$1.38	5d	1	0.92mi
6920 Misty Meadow Ln Arlington, TX	3.0	2.0	1582	$2,150	$1.36	19d	1	0.94mi
746 Bonnet Trl Arlington, TX	2.0	2.0	1416	$2,175	$1.54	25d	1	0.95mi
6463 Blue Trl Arlington, TX	3.0	2.5	1661	$2,399	$1.44	22d	1	0.97mi
6930 Misty Meadow Ln Arlington, TX	3.0	2.0	1678	$2,450	$1.46	44d	1	0.97mi
760 Bonnet Trl Arlington, TX	3.0	2.5	1624	$2,349	$1.45	22d	1	0.98mi
6707 Country Creek Dr Arlington, TX	3.0	2.0	1106	$1,995	$1.80	5d	1	0.98mi
763 Bonnet Trl Arlington, TX	3.0	2.5	1666	$1,200	$0.72	13d	1	0.98mi
736 W Colony Dr Arlington, TX	3.0	2.0	1575	$2,070	$1.31	2d	1	0.99mi

Listing history 13 events

1. 2026-06-18
   days on market $250,000 Active 20 DOM
2. 2026-06-17
   days on market $250,000 Active 19 DOM
3. 2026-06-16
   days on market $250,000 Active 18 DOM
4. 2026-06-15
   days on market $250,000 Active 17 DOM
5. 2026-06-13
   days on market $250,000 Active 15 DOM
6. 2026-06-09
   days on market $250,000 Active 11 DOM
7. 2026-06-08
   days on market $250,000 Active 10 DOM
8. 2026-06-07
   days on market $250,000 Active 9 DOM
9. 2026-06-04
   days on market $250,000 Active 6 DOM
10. 2026-06-03
    days on market $250,000 Active 5 DOM
11. 2026-06-02
    days on market $250,000 Active 4 DOM
12. 2026-06-01
    days on market $250,000 Active 3 DOM
13. 2026-05-31
    days on market $250,000 Active 2 DOM

ⓘ 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: $5,727 · $477/mo
• Projected year-2 tax: $5,727 · $477/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 · 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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,010
• − Mortgage interest: −$14,004
• − Property taxes: −$5,727
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,241
• − Management: −$2,241
• − Depreciation: −$7,273
• Taxable loss: −$4,725
• Est. tax savings @ 24.0%: +$1,134
• After-tax cash flow: $553/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): 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

3 events — show timeline

• 2026-05-28 Listed $250,000 NTREIS
• 1999-06-07 Sold (Public Records) — Public Records
• 1995-06-15 Sold (Public Records) — Public Records

Property tax history

+5.4%/yr

Latest (2025): $5,727 · +10.0% YoY. Source: county tax records.