3600 Hulen Park Cir · Fort Worth, TX 76123

$899,000

4 bd · 2.0 ba · 2,006 sqft · MultiFamily public records · 83 Days on market

Built 1985 8,364 sqft lot $448/sqft · 383% above area

---

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 +24.8/30.0
• DSCR +8.0/10.0
• ARV discount +7.5/15.0
• 1% rule +5.6/10.0
• Livability +4.0/5.0
• Rent growth +2.8/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

RARE 6-DOOR INVESTMENT PORTFOLIO! This unique package includes three well-maintained duplexes (6 total units) located on the same block in Fort Worth: 3600, 3602, 3616, 3618, and 3624, 3626 Hulen Park Circle. Priced at $960,000, this offering boasts a strong cap rate based on 2025 actual performance. The portfolio is 100% occupied with a total monthly gross rent of $8,745 ($104,940 per year) as of March 2026. Each unit features a spacious 1,005 sq. ft. layout with 2 bedrooms, 1 bathroom, a 1-car garage, and a private fenced backyard. Several units have been recently renovated with updated flooring and modern kitchens. The prime location near Hulen Mall ensures high tenant demand and easy access to shopping and dining. These properties are currently professionally managed by Ellis HomeSource, providing the option for a seamless management transition for the new owner. This is a true turn-key, immediate cash-flow opportunity. Sold as a single 3-duplex package only.

Key facts

• 8,364 sq ft lot
• Garage
• Built 1985

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $899k.

Deal economics

• At list price, monthly cash flow is $2k ($23k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $899k).
• Recommended offer: $845k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.8% 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.
• Crowley ISD (urban): math 23% / reading 32% proficiency, ranked #643 of 826 in TX (top 78%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Jackie Carden El (math 24% / reading 34%, grade F, #2,668 of 4,322 statewide, top 63%, 533 students, 84% FRL); Crowley Middle (math 17% / reading 28%, grade F, #1,341 of 1,662 statewide, top 82%, 977 students, 86% FRL); North Crowley H S (math 20% / reading 35%, grade F, #1,183 of 1,632 statewide, top 73%, 2,920 students, 71% FRL) — zoned schools average 80% FRL vs 52% district-wide (28 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.1%/yr); 367 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 18,938 units permitted in Tarrant County in 2024 (8,336 in 5+ unit buildings).
• At $9,494/mo this rent would consume 111% of the median local household income ($103k/yr) (locally 975% 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 $6k of loan paydown is wiped out by about $27k 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 83 days — a 6% lower offer ($845k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y ago; this cycle's ask has dropped $61k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $845,060 (6.0% below list)

Questions for the listing agent

1. It's been on market 83 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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 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: 1.06% ✓
• Cap rate: 8.82%
• Cash-on-cash: 9.01%
• DSCR: 1.40
• GRM: 7.9

CMA / ARV

• ARV (median comp): $559,720
• List price: $899,000
• Delta: 60.62%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.07% rent growth · sell at horizon

5-year hold

• IRR: -4.7%
• Equity multiple: 0.83×
• Total profit: $-43,558
• Equity at exit: $134,044

10-year hold

• IRR: 2.7%
• Equity multiple: 1.18×
• Total profit: $44,821
• Equity at exit: $77,729

Cash invested: $251,720 (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 76123

• Home prices YoY: -17.9%
• Rents YoY: 1.1%
• Active inventory: 367
• Price-to-rent: 47.3×

Monthly cashflow live

• Estimated rent: $9,494 medium
• Mortgage (P&I): −$4,714
• Tax from tax record: −$520 /mo · $6,243/yr
• Insurance: −$375
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,994
• Net cashflow: $1,891

Break-even live

Break-even rent $7,100

Max offer price $899,000

Occupancy floor 75%

Sensitivity live

Price	-10% $2,400	-5% $2,145	+0% $1,891	+5% $1,637	+10% $1,382
Rent	-10% $1,141	-5% $1,516	+0% $1,891	+5% $2,266	+10% $2,641
Rate	-1.0pp $2,344	-0.5pp $2,120	base $1,891	+0.5pp $1,658	+1.0pp $1,421

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

Units	Beds	Baths	Est. rent
▸ 6× units	2	1	$9,492
Total (6 units)			$9,494

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: $224,750
• Closing costs: $26,970
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3704 Fairhaven Dr Fort Worth, TX	3.0	2.0	1528	$1,995	$1.31	45d	1	0.12mi
3704 Fairhaven Dr Fort Worth, TX	3.0	2.0	1528	$1,995	$1.31	14d	1	0.12mi
3288 Raleigh Dr Fort Worth, TX	5.0	2.5	2443	$2,395	$0.98	21d	1	0.29mi
3816 Ashley Ln Fort Worth, TX	3.0	2.0	1464	$2,060	$1.41	4d	1	0.30mi
3309 Creekwood Ln Fort Worth, TX	4.0	2.0	1748	$2,055	$1.18	0d	1	0.31mi
8217 Miami Springs Dr Fort Worth, TX	3.0	2.0	1996	$1,950	$0.98	26d	1	0.35mi
8300 Auburn Dr Fort Worth, TX	3.0	2.5	1857	$1,850	$1.00	0d	1	0.36mi
3416 Forest Creek Dr Fort Worth, TX	3.0	2.0	1400	$1,895	$1.35	26d	1	0.39mi
3809 Bee Tree Ln Fort Worth, TX	3.0	2.0	1458	$1,810	$1.24	0d	1	0.40mi
8328 Ohara Ln Fort Worth, TX	3.0	2.5	1826	$2,145	$1.17	45d	1	0.44mi
3308 Clovermeadow Dr Fort Worth, TX	3.0	2.0	1798	$1,900	$1.06	26d	1	0.46mi
8345 Ohara Ln Fort Worth, TX	4.0	2.0	1793	$1,906	$1.06	45d	1	0.49mi
3704 Garden Springs Dr Fort Worth, TX	3.0	2.0	1628	$2,799	$1.72	14d	1	0.50mi
8309 Orleans Ln Fort Worth, TX	4.0	2.0	2506	$2,305	$0.92	45d	1	0.53mi
4013 Winter Springs Dr Fort Worth, TX	4.0	2.0	1764	$3,000	$1.70	45d	1	0.54mi
8420 Cloverglen Ln Fort Worth, TX	3.0	2.0	1445	$1,980	$1.37	0d	1	0.56mi
2729 Forest Creek Dr Fort Worth, TX	3.0	2.5	2333	$2,350	$1.01	4d	1	0.59mi
3104 Woodlark Dr Fort Worth, TX	4.0	2.5	2565	$2,350	$0.92	45d	1	0.60mi
7609 Xavier Dr Fort Worth, TX	4.0	2.5	2239	$2,060	$0.92	23d	1	0.60mi
8508 Ohara Ln Fort Worth, TX	3.0	2.0	2272	$1,841	$0.81	45d	1	0.61mi
8516 Auburn Dr Fort Worth, TX	4.0	2.5	2279	$2,095	$0.92	22d	1	0.62mi
2616 Harvest Moon Dr Fort Worth, TX	3.0	2.0	1436	$2,350	$1.64	3d	1	0.63mi
8525 Auburn Dr Fort Worth, TX	3.0	2.5	1463	$3,229	$2.21	0d	1	0.65mi
2917 Joymeadow Dr Fort Worth, TX	4.0	2.5	2253	$2,210	$0.98	22d	1	0.65mi
8317 Camellia Tree Ct Fort Worth, TX	4.0	3.0	1947	$2,340	$1.20	45d	1	0.65mi
3905 Seven Gables St Fort Worth, TX	3.0	2.0	1864	$1,700	$0.91	45d	1	0.66mi
2905 Joymeadow Dr Fort Worth, TX	4.0	2.5	2272	$2,200	$0.97	7d	1	0.67mi
8308 Yaupon Holly Trl Fort Worth, TX	4.0	2.5	1947	$2,340	$1.20	45d	1	0.67mi
3001 Vicksburg Ln Fort Worth, TX	4.0	2.5	2393	$2,650	$1.11	12d	1	0.68mi
2701 Clovermeadow Dr Fort Worth, TX	4.0	2.5	2225	$2,500	$1.12	4d	1	0.68mi
2701 Clovermeadow Dr Fort Worth, TX	4.0	2.5	2225	$2,500	$1.12	0d	1	0.68mi
2913 Vicksburg Ln Fort Worth, TX	3.0	2.0	1720	$1,800	$1.05	26d	1	0.71mi
8336 Yaupon Holly Trl Fort Worth, TX	4.0	2.5	1751	$2,180	$1.25	26d	1	0.71mi
3990 Sarasota Springs Dr Fort Worth, TX	3.0	2.5	1766	$1,995	$1.13	26d	1	0.71mi
8564 Charleston Ave Fort Worth, TX	3.0	2.5	1463	$1,875	$1.28	26d	1	0.74mi
7329 Southridge Trl Fort Worth, TX	3.0	2.0	1529	$2,200	$1.44	45d	1	0.76mi
7208 Southridge Trl Fort Worth, TX	3.0	2.0	1506	$1,950	$1.29	3d	1	0.76mi
7208 Southridge Trl Fort Worth, TX	3.0	2.0	1506	$1,950	$1.29	0d	1	0.76mi
7801 Summerglen Rd Fort Worth, TX	3.0	1.0	1715	$2,045	$1.19	45d	1	0.79mi
2808 Adams Fall Ln Fort Worth, TX	3.0	2.0	1545	$2,100	$1.36	45d	1	0.80mi

Listing history 26 events

1. 2026-06-21
   days on market $899,000 Active 83 DOM
2. 2026-06-18
   days on market $899,000 Active 80 DOM
3. 2026-06-17
   days on market $899,000 Active 79 DOM
4. 2026-06-16
   days on market $899,000 Active 78 DOM
5. 2026-06-15
   days on market $899,000 Active 77 DOM
6. 2026-06-13
   days on market $899,000 Active 75 DOM
7. 2026-06-13
   pricedays on market $899,000 Active 74 DOM
8. 2026-06-09
   days on market $960,000 Active 71 DOM
9. 2026-06-08
   days on market $960,000 Active 70 DOM
10. 2026-06-07
    days on market $960,000 Active 69 DOM
11. 2026-06-04
    statusdays on market $960,000 Active 66 DOM
12. 2026-06-03
    days on market $960,000 Active Option Contract 65 DOM
13. 2026-06-02
    days on market $960,000 Active Option Contract 64 DOM
14. 2026-06-01
    days on market $960,000 Active Option Contract 63 DOM
15. 2026-05-31
    days on market $960,000 Active Option Contract 62 DOM
16. 2026-03-30
    listed $960,000 Active 983-char remark

    Show marketing remark (983 chars)

    RARE 6-DOOR INVESTMENT PORTFOLIO! This unique package includes three well-maintained duplexes (6 total units) located on the same block in Fort Worth: 3600, 3602, 3616, 3618, and 3624, 3626 Hulen Park Circle. Priced at $960,000, this offering boasts a strong cap rate based on 2025 actual performance. The portfolio is 100% occupied with a total monthly gross rent of $8,745 ($104,940 per year) as of March 2026. Each unit features a spacious 1,005 sq. ft. layout with 2 bedrooms, 1 bathroom, a 1-car garage, and a private fenced backyard. Several units have been recently renovated with updated flooring and modern kitchens. The prime location near Hulen Mall ensures high tenant demand and easy access to shopping and dining. These properties are currently professionally managed by Ellis HomeSource, providing the option for a seamless management transition for the new owner. This is a true turn-key, immediate cash-flow opportunity. Sold as a single 3-duplex package only.

17. 2025-12-30
    historical
18. 2025-10-09
    listed $345,000 Active
19. 2024-05-06
    historical $1,499
20. 2024-05-03
    price $1,499
21. 2024-04-24
    listed $1,549
22. 2024-04-24
    historical $1,549
23. 2024-04-23
    listed $1,549
24. 2016-03-08
    soldstatus
25. 1990-10-23
    soldstatus
26. 1989-04-04
    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: $6,243 · $520/mo
• Projected year-2 tax: $16,452 · $1,371/mo
• Expected delta: +$10,208/yr (+$851/mo · 163.5%)

ⓘ 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 ≥108°F today · 24 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 22% 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: $113,928
• − Mortgage interest: −$50,358
• − Property taxes: −$6,243
• − Insurance: −$4,495
• − Repairs & maintenance: −$9,114
• − Management: −$9,114
• − Depreciation: −$26,153
• Taxable income: $8,451
• Est. tax owed @ 24.0%: −$2,028
• After-tax cash flow: $20,663/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: Crowley ISD
• NCES district ID: 4815910
• Math proficiency: 23% ▼ -15.00%
• Reading proficiency: 32% ▼ -6.00%
• Median HH income: $59,810
• Composite: 25.04/100
• National rank: #7549
• State rank: #643 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): 42,957
• Household income: $102,768
• Rent vs Own: 23.3% rent · 76.7% own
• Severe rent burden: 975.0

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 0.73)
• Race & ethnicity: Black 37% Hispanic / Latino 26% White 24% Two or more races 15% Asian 8%
• Hispanic origin (detail): Mexican 22%
• Common ancestry: Italian 1% Romanian 1% Slovak 1%
• Foreign-born: 17% · Canada, Vietnam, Jamaica
• Languages at home: 75% English-only · Spanish 16% Other Indo-European 3% Vietnamese 2%

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: ▼ -50.54%
• Current HPI: 231.1377
• Rent YoY: ▲ 1.07%
• 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

+61875.5% since first listed

11 events — show timeline

• 2026-03-30 Listed $960,000 NTREIS
• 2025-12-30 Listing Removed — NTREIS
• 2025-10-09 Listed $345,000 NTREIS
• 2024-05-06 Rental Removed $1,499 NTREIS
• 2024-05-03 Price Changed $1,499 NTREIS
• 2024-04-24 Listed for Rent $1,549 NTREIS
• 2024-04-24 Rental Removed $1,549 APPFOLIO
• 2024-04-23 Listed for Rent $1,549 APPFOLIO
• 2016-03-08 Sold (Public Records) — Public Records
• 1990-10-23 Sold (Public Records) — Public Records
• 1989-04-04 Sold (Public Records) — Public Records

Property tax history

+4.6%/yr

Latest (2025): $6,243 · -12.3% YoY. Source: county tax records.