3549 Rio Grande Cir · Dallas, TX 75233

$199,900

3 bd · 2.0 ba · 1,923 sqft · SingleFamily public records · 253 Days on market

Built 1968 10,542 sqft lot $104/sqft · 41% below area Est $339k · 41% under ↓ 30% since listing

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Why this score? — see what drove the B- 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 +21.5/30.0
• ARV discount +15.0/15.0
• 1% rule +7.1/10.0
• Appreciation +7.1/10.0
• DSCR +6.9/10.0
• Livability +4.0/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

The open floor plan is designed to accommodate a comfortable and seamless living experience for all occupants. With four bedrooms, there's plenty of room for everyone to have their own private space. The large, fenced-in yard offers a safe and secure environment for outdoor activities and gatherings.

Key facts

• Open floor plan
• Fenced-in yard
• 0.24 acre lot

Tags

• OPEN FLOOR PLAN
• FENCED-IN YARD

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $301 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Recommended offer: $176k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.1% vs local median 2.3% in Dallas — 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 81/100 on livability (#24 in TX, #1,380 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: schools C-, crime F.
• Dallas ISD (urban): math 31% / reading 36% proficiency, ranked #559 of 826 in TX (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 83% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 47 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 12,577 units permitted in Dallas County in 2024 (6,829 in 5+ unit buildings).

Forward outlook

• In year one you build about $10k of equity ($1k loan paydown + $8k appreciation (4.2% local appreciation)).
• Dallas County population projected at +35% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (4.2% appreciation + 3.0% rent growth), your $56k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 253 days — a 12% lower offer ($176k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y ago; this cycle's ask has dropped $70k (26%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $175,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 253 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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: 1.21% ✓
• Cap rate: 8.10%
• Cash-on-cash: 6.46%
• DSCR: 1.29
• GRM: 6.9

CMA / ARV

• ARV (median comp): $339,030
• List price: $199,900
• Delta: -41.04%
• 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
3520 Kiestcrest Dr	0.18mi	3/2.0	1,980 (+3%)	8mo	$284,900	$144	80
3511 Rio Grande Cir	0.08mi	3/2.0	2,100 (+9%)	3mo	$259,000	$123	78
3734 Kimball Ridge Dr	0.20mi	3/2.0	1,718 (-11%)	3mo	$335,500	$195	71
3819 Kimball Ridge Cir	0.22mi	3/2.5	1,745 (-9%)	3mo	$365,000	$209	70
3539 Los Angeles Blvd	0.33mi	3/2.0	1,760 (-8%)	2mo	$310,000	$176	69
3841 Shady Hollow Ln	0.40mi	4/2.0 (+1)	1,965 (+2%)	8mo	$359,000	$183	66
3412 Old Colony Rd	0.47mi	3/2.5	1,822 (-5%)	2mo	$435,000	$239	66
3828 Kimball Ridge Dr	0.25mi	3/2.0	1,682 (-12%)	4mo	$215,000	$128	64
3054 Kiestridge Dr	0.60mi	3/2.0	2,023 (+5%)	7mo	$369,900	$183	58
3526 Boulder Dr	0.46mi	3/2.0	2,070 (+8%)	10mo	$475,000	$229	58
3315 Cedarcroft Ln	0.33mi	4/2.0 (+1)	2,180 (+13%)	0mo	$339,900	$156	57
3764 Kiest Valley Pkwy	0.66mi	3/2.5	2,165 (+13%)	3mo	$189,900	$88	44

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

4.17% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 16.5%
• Equity multiple: 2.00×
• Total profit: $56,062
• Equity at exit: $103,306

10-year hold

• IRR: 17.3%
• Equity multiple: 3.83×
• Total profit: $158,151
• Equity at exit: $170,542

Cash invested: $55,972 (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 75233

• Home prices YoY: 1.1%
• Active inventory: 47
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $2,424 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$482 /mo · $5,783/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$509
• Net cashflow: $301

Break-even live

Break-even rent $2,042

Max offer price $199,900

Occupancy floor 83%

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3837 Kimball Ridge Dr Dallas, TX	3.0	3.0	2135	$3,200	$1.50	18d	1	0.26mi
3243 Noor St Dallas, TX	4.0	2.0	1535	$2,400	$1.56	7d	1	0.34mi
3235 Noor St Dallas, TX	4.0	2.0	1535	$2,400	$1.56	43d	1	0.34mi
3235 Noor St Dallas, TX	4.0	2.0	1535	$2,400	$1.56	20d	1	0.34mi
3202 Noor St Dallas, TX	4.0	2.0	1535	$2,400	$1.56	7d	1	0.38mi
3202 Noor St Dallas, TX	4.0	2.0	1535	$2,400	$1.56	5d	1	0.38mi
3217 Cedarcroft Ln Dallas, TX	3.0	3.0	1558	$2,200	$1.41	43d	1	0.41mi
3240 Springwood Ln Dallas, TX	3.0	2.0	1840	$2,099	$1.14	16d	1	0.48mi
3901 Altoona Dr Dallas, TX	2.0–4.0	1.5	1367	$1,650	$1.21	2d	4	0.61mi
2925 Spruce Valley Ln Unit 403 Dallas, TX	3.0	2.0	1477	$2,500	$1.69	20d	1	0.93mi
2925 Spruce Valley Ln Unit 302 Dallas, TX	2.0	2.0	1266	$2,300	$1.82	20d	1	0.93mi
4520 Wyoming St Dallas, TX	3.0	1.0	1250	$1,750	$1.40	24d	1	1.18mi

Listing history 21 events

1. 2026-06-02
   statusdays on market $199,900 Pending 253 DOM
2. 2026-06-02
   days on market $199,900 Active 252 DOM
3. 2026-05-31
   days on market $199,900 Active 251 DOM
4. 2026-05-16
   price $199,900 301-char remark

   Show marketing remark (301 chars)

   The open floor plan is designed to accommodate a comfortable and seamless living experience for all occupants. With four bedrooms, there's plenty of room for everyone to have their own private space. The large, fenced-in yard offers a safe and secure environment for outdoor activities and gatherings.

5. 2026-04-30
   status Active 301-char remark

   Show marketing remark (301 chars)

   The open floor plan is designed to accommodate a comfortable and seamless living experience for all occupants. With four bedrooms, there's plenty of room for everyone to have their own private space. The large, fenced-in yard offers a safe and secure environment for outdoor activities and gatherings.

6. 2026-04-21
   historical Active Option Contract 301-char remark

   Show marketing remark (301 chars)

   The open floor plan is designed to accommodate a comfortable and seamless living experience for all occupants. With four bedrooms, there's plenty of room for everyone to have their own private space. The large, fenced-in yard offers a safe and secure environment for outdoor activities and gatherings.

7. 2026-03-25
   price $219,900 301-char remark

   Show marketing remark (301 chars)

   The open floor plan is designed to accommodate a comfortable and seamless living experience for all occupants. With four bedrooms, there's plenty of room for everyone to have their own private space. The large, fenced-in yard offers a safe and secure environment for outdoor activities and gatherings.

8. 2026-03-12
   status Active 301-char remark

   Show marketing remark (301 chars)

   The open floor plan is designed to accommodate a comfortable and seamless living experience for all occupants. With four bedrooms, there's plenty of room for everyone to have their own private space. The large, fenced-in yard offers a safe and secure environment for outdoor activities and gatherings.

9. 2026-03-09
   historical Active Option Contract 301-char remark

   Show marketing remark (301 chars)

   The open floor plan is designed to accommodate a comfortable and seamless living experience for all occupants. With four bedrooms, there's plenty of room for everyone to have their own private space. The large, fenced-in yard offers a safe and secure environment for outdoor activities and gatherings.

10. 2026-02-17
    price $229,900 301-char remark

    Show marketing remark (301 chars)

    The open floor plan is designed to accommodate a comfortable and seamless living experience for all occupants. With four bedrooms, there's plenty of room for everyone to have their own private space. The large, fenced-in yard offers a safe and secure environment for outdoor activities and gatherings.

11. 2026-01-13
    price $239,900 301-char remark

    Show marketing remark (301 chars)

    The open floor plan is designed to accommodate a comfortable and seamless living experience for all occupants. With four bedrooms, there's plenty of room for everyone to have their own private space. The large, fenced-in yard offers a safe and secure environment for outdoor activities and gatherings.

12. 2025-12-02
    price $249,900 301-char remark

    Show marketing remark (301 chars)

    The open floor plan is designed to accommodate a comfortable and seamless living experience for all occupants. With four bedrooms, there's plenty of room for everyone to have their own private space. The large, fenced-in yard offers a safe and secure environment for outdoor activities and gatherings.

13. 2025-10-27
    price $259,900 301-char remark

    Show marketing remark (301 chars)

    The open floor plan is designed to accommodate a comfortable and seamless living experience for all occupants. With four bedrooms, there's plenty of room for everyone to have their own private space. The large, fenced-in yard offers a safe and secure environment for outdoor activities and gatherings.

14. 2025-09-22
    listed $269,900 Active 301-char remark

    Show marketing remark (301 chars)

    The open floor plan is designed to accommodate a comfortable and seamless living experience for all occupants. With four bedrooms, there's plenty of room for everyone to have their own private space. The large, fenced-in yard offers a safe and secure environment for outdoor activities and gatherings.

15. 2025-08-21
    soldstatus $481,446
16. 2023-11-28
    soldstatus
17. 2023-11-07
    soldstatus
18. 2023-11-06
    soldstatus Closed 333-char remark

    Show marketing remark (333 chars)

    Renovation Special on a large lot inside Dallas City Limits. Property infrastructure is new and waiting for someone to finish interior for a complete property upgrade. Roof is less than 4 years old, HVAC less than 6 years old and water heater less than a year old. Unique opportunity for a straight forward, cosmetic only renovation.

19. 2023-10-26
    status Pending 333-char remark

    Show marketing remark (333 chars)

    Renovation Special on a large lot inside Dallas City Limits. Property infrastructure is new and waiting for someone to finish interior for a complete property upgrade. Roof is less than 4 years old, HVAC less than 6 years old and water heater less than a year old. Unique opportunity for a straight forward, cosmetic only renovation.

20. 2023-10-18
    historical Active Option Contract 333-char remark

    Show marketing remark (333 chars)

    Renovation Special on a large lot inside Dallas City Limits. Property infrastructure is new and waiting for someone to finish interior for a complete property upgrade. Roof is less than 4 years old, HVAC less than 6 years old and water heater less than a year old. Unique opportunity for a straight forward, cosmetic only renovation.

21. 2023-09-20
    listed $285,000 Active 333-char remark

    Show marketing remark (333 chars)

    Renovation Special on a large lot inside Dallas City Limits. Property infrastructure is new and waiting for someone to finish interior for a complete property upgrade. Roof is less than 4 years old, HVAC less than 6 years old and water heater less than a year old. Unique opportunity for a straight forward, cosmetic only renovation.

ⓘ 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: $5,783 · $482/mo
• Projected year-2 tax: $5,783 · $482/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 · 24 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: $29,085
• − Mortgage interest: −$11,198
• − Property taxes: −$5,783
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,327
• − Management: −$2,327
• − Depreciation: −$5,815
• Taxable income: $636
• Est. tax owed @ 24.0%: −$153
• After-tax cash flow: $3,462/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: Dallas ISD
• NCES district ID: 4816230
• Math proficiency: 31% ▼ -16.00%
• Reading proficiency: 36% ▼ -4.00%
• Median HH income: $42,881
• Composite: 28.41/100
• National rank: #6763
• State rank: #559 of 826 in TX

Livability — Dallas

• Score: 81/100
• State rank: #24
• US rank: #1380

Category grades

Amenities A+ Commute A+ Cost of living A- Crime F Employment C+ Housing A+ Health & safety A User ratings B

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dallas, TX
• City population: 1,168,437
• Population (ZIP): 15,775

Population outlook (Dallas County) Hauer SSP2

• Today (2025): 2,979,839 people
• By 2030: 3,191,823 · +7.1%
• By 2040: 3,619,611 · +21.5%
• By 2050: 4,026,915 · +35.1%
• By 2075: 4,957,073 · +66.4%
• By 2100: 5,508,725 · +84.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Hispanic (63%)
• Race & ethnicity: Hispanic / Latino 63% Black 25% Two or more races 11% White 10% Asian 1%
• Hispanic origin (detail): Mexican 60%
• Common ancestry: Slovak 1% Italian 1%
• Foreign-born: 23% · Canada
• Languages at home: 47% English-only · Spanish 52% Vietnamese 1%

Political lean MEDSL · Dallas

• 2024 margin: Strong D (+22.2) · D 60.2% · R 38.0% · Other 1.8%
• 2008→2024 swing: +6.9pp toward D · 2008: 15.3pp · 2024: 22.2pp
• All cycles: 2024: D+22.2 2020: D+31.6 2016: D+26.2 2012: D+15.4 2008: D+15.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.17%
• Current HPI: 370.9766
• Rent YoY: —
• Metro: —
• 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

-29.9% since first listed

18 events — show timeline

• 2026-05-16 Price Changed $199,900 NTREIS
• 2026-04-30 Relisted — NTREIS
• 2026-04-21 Contingent — NTREIS
• 2026-03-25 Price Changed $219,900 NTREIS
• 2026-03-12 Relisted — NTREIS
• 2026-03-09 Contingent — NTREIS
• 2026-02-17 Price Changed $229,900 NTREIS
• 2026-01-13 Price Changed $239,900 NTREIS
• 2025-12-02 Price Changed $249,900 NTREIS
• 2025-10-27 Price Changed $259,900 NTREIS
• 2025-09-22 Listed $269,900 NTREIS
• 2025-08-21 Sold (Public Records) $481,446 Public Records
• 2023-11-28 Sold (Public Records) — Public Records
• 2023-11-07 Sold (Public Records) — Public Records
• 2023-11-06 Sold (MLS) — NTREIS
• 2023-10-26 Pending — NTREIS
• 2023-10-18 Contingent — NTREIS
• 2023-09-20 Listed $285,000 NTREIS

Property tax history

+5.9%/yr

Latest (2025): $5,783 · -0.4% YoY. Source: county tax records.