732 Blaylock Dr · Dallas, TX 75203

$925,000

None bd · 156.0 ba · 2,860 sqft · MultiFamily public records · 198 Days on market

Built 1953 7,405 sqft lot $323/sqft · 101% above area Est $922k · at est.

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.3/15.0
• Livability +4.0/5.0
• Schools +2.8/10.0
• Condition / age +2.5/5.0
• Rent growth +1.8/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 12 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Prime redevelopment opportunity in the heart of the Lake Cliff Historic District. This prominent corner lot offers an unrivaled location directly overlooking Lake Cliff Park, making it one of the most desirable footprints in this historic Dallas neighborhood. The property currently features a 12-unit apartment building consisting of 2 two-bedroom units, 5 one-bedroom units, and 5 efficiencies. The upstairs level contains 2 two-bedroom units, 3 one-bedroom units, and 1 efficiency, while the downstairs level includes 2 one-bedroom units and 4 efficiencies. This property is being sold individually and is priced for land value only. Sold strictly AS-IS, this is a rare chance to develop or restore a significant piece of real estate in a high-demand area with stunning park views and excellent visibility.

Key facts

• Corner lot
• 7,405 sq ft lot
• Built 1953

Tags

• CORNER LOT
• LAKE CLIFF HISTORIC DISTRICT
• OVERLOOKING LAKE CLIFF PARK
• HISTORIC NEIGHBORHOOD

What this means for you Summary

Snapshot

• This is a 2×2bd/1ba + 10×1bd/1ba units multifamily listed at $925k.

Deal economics

• At list price, monthly cash flow is $6k ($75k/yr) — positive. Per door: $522/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($17k rent vs $925k).
• Recommended offer: $814k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.4% 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: Rents soft (-2.7%/yr); 142 active listings in the ZIP; 36 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 44% of comp listings sitting > 30 days — soft ceiling on asking rent; 12,577 units permitted in Dallas County in 2024 (6,829 in 5+ unit buildings).
• At $16,530/mo this rent would consume 422% of the median local household income ($47k/yr) (locally 948% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $99k of equity ($6k loan paydown + $92k appreciation (10.0% local appreciation)).
• Dallas County population projected at +35% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 0.0% rent growth), your $259k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$159k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 198 days — a 12% lower offer ($814k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 20y ago; this cycle's ask has dropped $570k (38%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.
• 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 $814,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 198 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1953 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.79% ✓
• Cap rate: 14.41%
• Cash-on-cash: 29.00%
• DSCR: 2.29
• GRM: 4.7

CMA / ARV

• ARV (median comp): $921,638
• List price: $925,000
• Delta: 0.36%
• Verdict: FAIR
• Comps: 4 within 2.0 mi

Projected returns pro-forma

10.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 44.4%
• Equity multiple: 4.30×
• Total profit: $854,543
• Equity at exit: $833,313

10-year hold

• IRR: 37.3%
• Equity multiple: 9.17×
• Total profit: $2,117,200
• Equity at exit: $1,797,072

Cash invested: $259,000 (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 75203

• Home prices YoY: 31.8%
• Rents YoY: -2.7%
• Active inventory: 142
• Price-to-rent: 48.3×

Monthly cashflow live

• Estimated rent: $16,530 high
• Mortgage (P&I): −$4,851
• Tax from tax record: −$1,562 /mo · $18,749/yr
• Insurance: −$385
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,471
• Net cashflow: $6,260

Break-even live

Break-even rent $8,606

Max offer price $925,000

Occupancy floor 57%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,194
▸ 10× units	1	1	$13,340
Total (12 units)			$16,530

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: $231,250
• Closing costs: $27,750
• Reserves months: —
• Total cash needed: —

Rent comps 36 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
625 N Marsalis Ave Dallas, TX	2.0	1.5	2808	$2,000	$0.71	43d	1	0.10mi
512 N Lancaster Ave Unit 1-2 Dallas, TX	3.0	3.5	1980	$2,950	$1.49	43d	1	0.26mi
512 N Lancaster Ave #1 Dallas, TX	3.0	3.5	1980	$3,450	$1.74	43d	1	0.26mi
512 N Lancaster Ave Unit 6 Dallas, TX	3.0	3.5	1980	$3,150	$1.59	10d	1	0.26mi
604 N Ewing Ave Unit 107 Dallas, TX	3.0	3.5	1946	$3,150	$1.62	43d	1	0.30mi
815 E 5th St Unit 209 Dallas, TX	3.0	3.5	1946	$3,200	$1.64	24d	1	0.32mi
308 E 7th St Dallas, TX	3.0	2.5	2399	$3,600	$1.50	43d	1	0.35mi
306 E 7th St Dallas, TX	3.0	2.5	2399	$3,900	$1.63	14d	1	0.35mi
302 E 7th St Dallas, TX	3.0	2.5	2399	$3,600	$1.50	43d	1	0.35mi
428 N Patton Ave Dallas, TX	3.0	2.5	2399	$3,900	$1.63	6d	1	0.35mi
312 S Lancaster Ave Unit 104 Dallas, TX	3.0	3.5	1941	$2,750	$1.42	43d	1	0.41mi
324 N Patton Ave Dallas, TX	3.0	2.5	2300	$3,499	$1.52	43d	1	0.48mi
112 E Oscar Dr Dallas, TX	3.0	3.0	2012	$3,400	$1.69	10d	1	0.52mi
901 Elsbeth St Dallas, TX	3.0	3.5	1976	$4,200	$2.13	16d	1	0.55mi
627 Finley Ct Dallas, TX	3.0	3.0	2014	$3,450	$1.71	43d	1	0.66mi
236 Melba St #101 Dallas, TX	3.0	3.5	2225	$3,800	$1.71	2d	1	0.87mi
410 Melba St #2 Dallas, TX	3.0	3.0	2158	$3,800	$1.76	7d	1	0.97mi
200 E 12th St Dallas, TX	2.0	1.0	1932	$1,500	$0.78	43d	1	1.01mi
521 Melba St #101 Dallas, TX	3.0	3.5	2100	$3,800	$1.81	43d	1	1.06mi
734 W 7th St Dallas, TX	3.0	3.0	2008	$4,250	$2.12	43d	1	1.21mi
642 N Tyler St Dallas, TX	3.0	4.0	2102	$3,495	$1.66	7d	1	1.25mi
642 N Tyler St Dallas, TX	3.0	4.0	2102	$3,495	$1.66	17d	1	1.25mi
1218 Grant St Dallas, TX	3.0	2.5	2057	$2,699	$1.31	24d	1	1.28mi
1218 Grant St Dallas, TX	3.0	2.5	2057	$2,699	$1.31	22d	1	1.28mi
723 W 10th St Unit 103 Dallas, TX	3.0	3.5	1994	$3,100	$1.55	24d	1	1.32mi
723 W 10th St #101 Dallas, TX	3.0	3.5	1994	$3,450	$1.73	24d	1	1.32mi
723 W 10th St Unit 109 Dallas, TX	3.0	3.5	1994	$3,200	$1.60	7d	1	1.32mi
727 W 10th St Unit 108 Dallas, TX	3.0	3.5	1994	$3,150	$1.58	24d	1	1.33mi
727 W 10th St Dallas, TX	3.0	4.0	1994	$3,350	$1.68	43d	1	1.33mi
1409 Botham Jean Blvd Dallas, TX	1.0–2.0	1.0–2.0	1766	$2,761	$1.56	1d	19	1.35mi
219 W Yarmouth St Dallas, TX	3.0	2.5	2155	$3,500	$1.62	43d	1	1.43mi
217 W Yarmouth St Dallas, TX	3.0	2.5	2155	$3,500	$1.62	43d	1	1.43mi
1000 Fort Worth Ave Dallas, TX	2.0–3.0	2.0–2.5	1951	$2,922	$1.50	1d	5	1.44mi
1367 Branchwood Pl Dallas, TX	3.0	3.5	2511	$3,295	$1.31	5d	1	1.49mi
1339 Hendricks Ave Dallas, TX	3.0	3.0	2152	$4,000	$1.86	43d	1	1.49mi
1310 Branchwood Pl Dallas, TX	3.0	3.5	2396	$3,650	$1.52	15d	1	1.50mi

Listing history 26 events

1. 2026-06-18
   days on market $925,000 Active 198 DOM
2. 2026-06-17
   days on market $925,000 Active 197 DOM
3. 2026-06-16
   days on market $925,000 Active 196 DOM
4. 2026-06-15
   days on market $925,000 Active 195 DOM
5. 2026-06-13
   days on market $925,000 Active 193 DOM
6. 2026-06-09
   days on market $925,000 Active 189 DOM
7. 2026-06-08
   days on market $925,000 Active 188 DOM
8. 2026-06-07
   days on market $925,000 Active 187 DOM
9. 2026-06-04
   days on market $925,000 Active 184 DOM
10. 2026-06-03
    days on market $925,000 Active 183 DOM
11. 2026-06-02
    days on market $925,000 Active 182 DOM
12. 2026-06-02
    days on market $925,000 Active 181 DOM
13. 2026-05-31
    days on market $925,000 Active 180 DOM
14. 2026-04-14
    price $925,000 809-char remark

    Show marketing remark (809 chars)

    Prime redevelopment opportunity in the heart of the Lake Cliff Historic District. This prominent corner lot offers an unrivaled location directly overlooking Lake Cliff Park, making it one of the most desirable footprints in this historic Dallas neighborhood. The property currently features a 12-unit apartment building consisting of 2 two-bedroom units, 5 one-bedroom units, and 5 efficiencies. The upstairs level contains 2 two-bedroom units, 3 one-bedroom units, and 1 efficiency, while the downstairs level includes 2 one-bedroom units and 4 efficiencies. This property is being sold individually and is priced for land value only. Sold strictly AS-IS, this is a rare chance to develop or restore a significant piece of real estate in a high-demand area with stunning park views and excellent visibility.

15. 2026-04-01
    status Active 809-char remark

    Show marketing remark (809 chars)

    Prime redevelopment opportunity in the heart of the Lake Cliff Historic District. This prominent corner lot offers an unrivaled location directly overlooking Lake Cliff Park, making it one of the most desirable footprints in this historic Dallas neighborhood. The property currently features a 12-unit apartment building consisting of 2 two-bedroom units, 5 one-bedroom units, and 5 efficiencies. The upstairs level contains 2 two-bedroom units, 3 one-bedroom units, and 1 efficiency, while the downstairs level includes 2 one-bedroom units and 4 efficiencies. This property is being sold individually and is priced for land value only. Sold strictly AS-IS, this is a rare chance to develop or restore a significant piece of real estate in a high-demand area with stunning park views and excellent visibility.

16. 2025-12-01
    listed $1,495,000 Active 809-char remark

    Show marketing remark (809 chars)

    Prime redevelopment opportunity in the heart of the Lake Cliff Historic District. This prominent corner lot offers an unrivaled location directly overlooking Lake Cliff Park, making it one of the most desirable footprints in this historic Dallas neighborhood. The property currently features a 12-unit apartment building consisting of 2 two-bedroom units, 5 one-bedroom units, and 5 efficiencies. The upstairs level contains 2 two-bedroom units, 3 one-bedroom units, and 1 efficiency, while the downstairs level includes 2 one-bedroom units and 4 efficiencies. This property is being sold individually and is priced for land value only. Sold strictly AS-IS, this is a rare chance to develop or restore a significant piece of real estate in a high-demand area with stunning park views and excellent visibility.

17. 2025-11-04
    historical Active Option Contract
18. 2025-10-31
    historical
19. 2025-10-10
    historical Active Option Contract
20. 2025-10-01
    listed $1,495,000 Active
21. 2006-04-28
    soldstatus
22. 2006-04-10
    soldstatus
23. 2006-02-27
    historical
24. 2006-01-24
    listed $244,000
25. 1999-01-28
    soldstatus
26. 1984-06-27
    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: $18,749 · $1,562/mo
• Projected year-2 tax: $18,749 · $1,562/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 · 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: $198,360
• − Mortgage interest: −$51,814
• − Property taxes: −$18,749
• − Insurance: −$4,625
• − Repairs & maintenance: −$15,869
• − Management: −$15,869
• − Depreciation: −$26,909
• Taxable income: $64,525
• Est. tax owed @ 24.0%: −$15,486
• After-tax cash flow: $59,635/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
• County: Dallas County · 2,612,404 people
• City population: 1,168,437
• Metro: Dallas-Fort Worth-Arlington, TX
• Population (ZIP): 15,775
• Household income: $46,989
• Rent vs Own: 62.1% rent · 37.9% own
• Severe rent burden: 948.0

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: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: Hispanic / Latino 59% Black 31% Two or more races 17% White 7% Native American 2%
• Hispanic origin (detail): Mexican 53%
• Common ancestry: Lithuanian 1% Swiss 1%
• Foreign-born: 29% · Canada, China, Jamaica
• Languages at home: 47% English-only · Spanish 51% French/Haitian/Cajun 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: ▲ 86.64%
• Current HPI: 358.9507
• Rent YoY: ▼ -2.72%
• 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

+279.1% since first listed

13 events — show timeline

• 2026-04-14 Price Changed $925,000 NTREIS
• 2026-04-01 Relisted — NTREIS
• 2025-12-01 Listed $1,495,000 NTREIS
• 2025-11-04 Contingent — NTREIS
• 2025-10-31 Listing Removed — NTREIS
• 2025-10-10 Contingent — NTREIS
• 2025-10-01 Listed $1,495,000 NTREIS
• 2006-04-28 Sold (Public Records) — Public Records
• 2006-04-10 Sold (MLS) — NTREIS
• 2006-02-27 Listing Removed — NTREIS
• 2006-01-24 Listed $244,000 NTREIS
• 1999-01-28 Sold (Public Records) — Public Records
• 1984-06-27 Sold (Public Records) — Public Records

Property tax history

+7.3%/yr

Latest (2025): $18,749 · -0.4% YoY. Source: county tax records.