Looking for investor feedback on a duplex I toured in Fort Worth (76110).
Alton WarrenPro Member
New to Real Estate · Arlington Tx · Member since 2025 · 20 posts · 19 votesLooking for investor feedback on a duplex I toured in Fort Worth (76110).
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Drew SygitBusiness Member
Property Manager · Royal Oak, MI · Member since 2012 · 12k+ posts · 9k+ votesQuote from @Alton Warren:
Looking for investor feedback on a duplex I toured in Fort Worth (76110).
Property: Fort Worth, TX 76110
Approx. 1,312 sq ft duplex
Reported rents: $1,200 per side ($2,400/month gross)
Rentometer average for 2/1 units in the area: ~$1,286/month
Seller is asking $200,000.
My observations during walkthrough:
- *Noticeable floor slopes throughout both units (possible foundation concerns)
- *Roof has missing shingles and evidence of prior repairs
- *Windows all need replacement (10 windows in total)
- *Exterior brick/siding needs work
- *Paint, flooring, doors, framing, kitchens, and bathrooms need updating
Based on my estimate, I'm roughly around $35k in rehab, but I'm trying to determine what a realistic investor buy price would be given the rent potential and the deferred maintenance.
Question for the group: What would you pay for this duplex in its current condition, and would you view this primarily as a buy-and-hold play or a value-add flip?
All great feedback so far, but what happens if you find out:
1) Foundation has been this way for decades and is NOT expected to worsen?
2) Roof will last another 10 years with minor repairs?
3) Windows are old, but work fine?
4) Exterior just needs minor repairs?
5) Kitchens & baths are right about average for the market?
TOO MANY investors want to repair properties like they'd be living in them!
Or, they want to replace & fix everything to make the property "low maintenance" for the immediate future.
HIGHLY recommend you personally tour local comparable rentals to see what the market expects.
If you don't learn what, "Maintain to the Market" means & put it into practice you'll find it extremely difficult to ever cashflow.
Logical Property Management4.9460 Reviews
10 Replies
- Lender · Orlando, FL · Member since 2023 · 220 posts · 183 votes4mo
Hey Alton,
The floor slopes would be my biggest concern. Cosmetic issues are easy to budget for, but foundation problems can turn a $35,000 rehab into a much larger project very quickly. Before I spent too much time on the numbers, I'd want a foundation specialist to take a look and give me a realistic assessment of what's going on.
From a buy-and-hold perspective, I'd also look closely at the rents. If the units are already getting $1,200 per side and Rentometer shows roughly $1,286, there may not be a ton of upside unless the renovations allow you to push rents beyond that average. At a $200,000 purchase price plus rehab, I'd want to make sure the cash flow still makes sense after accounting for taxes, insurance, vacancy, maintenance, and any financing costs.
Personally, this feels more like a value-add buy-and-hold than a flip unless there are strong comparable sales supporting a much higher exit value. With the deferred maintenance and potential foundation concerns, I'd need a pretty healthy discount from the asking price before I'd be interested. The foundation issue alone would have me negotiating aggressively or walking away if the seller isn't realistic.
- New to Real Estate · Arlington Tx · Member since 2025 · 20 posts · 19 votes4mo
Quote from @Travis Main:
Hey Alton,
The floor slopes would be my biggest concern. Cosmetic issues are easy to budget for, but foundation problems can turn a $35,000 rehab into a much larger project very quickly. Before I spent too much time on the numbers, I'd want a foundation specialist to take a look and give me a realistic assessment of what's going on.
From a buy-and-hold perspective, I'd also look closely at the rents. If the units are already getting $1,200 per side and Rentometer shows roughly $1,286, there may not be a ton of upside unless the renovations allow you to push rents beyond that average. At a $200,000 purchase price plus rehab, I'd want to make sure the cash flow still makes sense after accounting for taxes, insurance, vacancy, maintenance, and any financing costs.
Personally, this feels more like a value-add buy-and-hold than a flip unless there are strong comparable sales supporting a much higher exit value. With the deferred maintenance and potential foundation concerns, I'd need a pretty healthy discount from the asking price before I'd be interested. The foundation issue alone would have me negotiating aggressively or walking away if the seller isn't realistic.
Thank you for the feedback. I agree that the floor slope/foundation is the biggest unknown on this deal and would absolutely need to be verified during due diligence.
One advantage I have is that I already work with a foundation crew in my personal network that has reviewed similar projects for me and estimates this type of repair at approximately $5,000. I also have a licensed plumber on my team who can address any unforeseen plumbing issues that may arise from foundation movement.
For the roof, my roofing contractor estimated approximately $6,500, including chimney repairs. My rehab estimate is currently around $35,000, which includes a $10k contingency for unexpected items.
I agree this appears to be more of a value-add buy-and-hold than a flip. Using Rentometer's average rent of approximately $1,286 for a 2/1, I believe there is still some room for rent growth while improving tenant quality and reducing deferred maintenance. The key for me is getting the property at the right price to create enough margin and cash flow after taxes, insurance, vacancy, maintenance, and reserves.
I appreciate your insight. The foundation concern is definitely driving my offer strategy, and if the seller isn't realistic on price, I'll likely pass and move on to the next opportunity.
- Lender · Orlando, FL · Member since 2023 · 220 posts · 183 votes4mo
It sounds like you've done more due diligence than most people do before even making an offer, which is a huge advantage. Having trusted contractors already lined up and realistic pricing on the foundation and roof takes a lot of uncertainty out of the deal. I also like that you've built a contingency into your rehab budget. That's where a lot of investors get into trouble—they budget for the known issues and forget about the surprises.
Based on the numbers you've shared, I think your success is going to come down to acquisition price more than anything else. If you can buy it at a discount that leaves room for the rehab, reserves, and future maintenance while still producing solid cash flow, it could make for a nice long-term hold. The fact that you're willing to walk away if the seller isn't realistic is probably the best sign of all. Too many investors fall in love with a deal and start justifying the numbers. Sometimes the best deals are the ones you don't do.
- Hinton, WV · Member since 2023 · 47 posts · 7 votes4mo
On this deal in Fort Worth the numbers look fine on rent but the condition is the real issue.
Floors sloping plus roof, windows, and full interior means this is not a light rehab. Your 35k estimate is likely low once foundation and surprises show up.
At 200k asking, it is hard to make this work unless ARV is strong and rehab stays controlled.
For me this is only a buy if price drops enough to cover worst case rehab and still leave margin. Right now it leans more toward too thin on spread.
I would either push for a much lower entry or skip it and move to cleaner value add deals.
- 4moG. Brian DavisPro MemberInvestor · Hatboro, PA · Member since 2016 · 3k+ posts · 872 votes
The floor slopes would be the item I'd spend the most time investigating. A $35k rehab budget can change quickly if significant foundation issues are hiding underneath everything else.
My first question wouldn't be "What would I pay?" It would be "How confident am I in the rehab number?"
At $2,400/month in current rents, I'd want to understand whether those rents are truly market, below market, or above market before getting too deep into valuation. The answer could change the entire investment thesis.From what you've described, this feels more like a value-add buy-and-hold than a flip, but I'd want a much clearer picture of the foundation and roof before deciding what it's worth. Those are the types of items that can make a deal look very different once you own it.
- 4moDrew SygitBusiness MemberProperty Manager · Royal Oak, MI · Member since 2012 · 12k+ posts · 9k+ votes
Quote from @Alton Warren:
Looking for investor feedback on a duplex I toured in Fort Worth (76110).
Property: Fort Worth, TX 76110
Approx. 1,312 sq ft duplex
Reported rents: $1,200 per side ($2,400/month gross)
Rentometer average for 2/1 units in the area: ~$1,286/month
Seller is asking $200,000.
My observations during walkthrough:
- *Noticeable floor slopes throughout both units (possible foundation concerns)
- *Roof has missing shingles and evidence of prior repairs
- *Windows all need replacement (10 windows in total)
- *Exterior brick/siding needs work
- *Paint, flooring, doors, framing, kitchens, and bathrooms need updating
Based on my estimate, I'm roughly around $35k in rehab, but I'm trying to determine what a realistic investor buy price would be given the rent potential and the deferred maintenance.
Question for the group: What would you pay for this duplex in its current condition, and would you view this primarily as a buy-and-hold play or a value-add flip?
All great feedback so far, but what happens if you find out:
1) Foundation has been this way for decades and is NOT expected to worsen?
2) Roof will last another 10 years with minor repairs?
3) Windows are old, but work fine?
4) Exterior just needs minor repairs?
5) Kitchens & baths are right about average for the market?TOO MANY investors want to repair properties like they'd be living in them!
Or, they want to replace & fix everything to make the property "low maintenance" for the immediate future.HIGHLY recommend you personally tour local comparable rentals to see what the market expects.
If you don't learn what, "Maintain to the Market" means & put it into practice you'll find it extremely difficult to ever cashflow.
Logical Property Management4.9460 Reviews - 4moDenise SuppleeBusiness MemberRealtor · Willow Grove, PA · Member since 2017 · 1k+ posts · 650 votes
The floor slopes would probably get my attention first. Before getting too focused on the cosmetic updates, I'd want to understand whether there are foundation issues and what those repairs might cost.
One thing I've learned over the years as a Realtor and investor is that deferred maintenance often costs more than it first appears, so I'd be conservative with my rehab estimates until you know exactly what you're dealing with. Based on what you've described, I'd be running the numbers as a buy-and-hold first and then seeing if the purchase price leaves enough room for the unknowns.
Spark Rental Co-Investing Club582 Reviews - Welcome Alton. One thing stands out: your Rentometer number (~$1,286) is basically what it already rents for, so even after the $35k you're mostly fixing deferred maintenance, not really adding value. That's a tougher deal than a true value-add. And in TX, taxes + insurance eat a real chunk of that $2,400, so after reserving for capex (roof, windows, that floor) I'd want to be well under $200k for it to actually cash flow. What's your target on this one - monthly cash flow as a hold, or BRRRR the money back out? That changes a lot about what you can pay.
- Real Estate Broker · Chicago, IL · Member since 2014 · 2k+ posts · 1k+ votes4mo
Quote from @Alton Warren:
Looking for investor feedback on a duplex I toured in Fort Worth (76110).
Property: Fort Worth, TX 76110
Approx. 1,312 sq ft duplex
Reported rents: $1,200 per side ($2,400/month gross)
Rentometer average for 2/1 units in the area: ~$1,286/month
Seller is asking $200,000.
My observations during walkthrough:
- *Noticeable floor slopes throughout both units (possible foundation concerns)
- *Roof has missing shingles and evidence of prior repairs
- *Windows all need replacement (10 windows in total)
- *Exterior brick/siding needs work
- *Paint, flooring, doors, framing, kitchens, and bathrooms need updating
Based on my estimate, I'm roughly around $35k in rehab, but I'm trying to determine what a realistic investor buy price would be given the rent potential and the deferred maintenance.
Question for the group: What would you pay for this duplex in its current condition, and would you view this primarily as a buy-and-hold play or a value-add flip?
Without knowing the After Repair Value (ARV) of the property I can't tell you if it's a value add where you'll have equity after you complete the renovation. All you have told us is the seller want's $200K but you have not told is what it's worth after repairs. Also your estimate of repairs feels too low.
- Member since 2026 · 8 posts · 2 votes3mo
Amir's question above is the one worth answering before you finalize your offer strategy: hold for cash flow vs. BRRRR changes what you can actually pay here.
If you're planning to BRRRR, your offer price gets more forgiving, since the goal shifts to pulling most of your capital back out via refinance once the rehab's done and rents are stabilized — but that only works if the after-repair value supports a strong enough appraisal to refinance near your all-in cost. Given Crystal's point about not knowing ARV yet, that's the number that determines whether BRRRR is even viable here versus just being a straight cash-flow hold with your capital staying parked in the deal long-term.
If it's a straight hold, then Amir and Michael's read is right — you need a lower entry price since the rents are already near market and there's not much rent growth to lean on.
Have you run the ARV yet, or gotten a sense of what comparable renovated duplexes are selling for in that same zip?
Happy to talk through the BRRRR refinance math in more detail over DM if that'd help you decide which route to pursue.
Wright Sara
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