6050 Melody Ln #108 · Dallas, TX 75231

$84,000

2 bd · 2.0 ba · 1,127 sqft · Condo public records · 185 Days on market

Built 1979 $75/sqft · 39% below area Est $138k · 39% under $494/mo HOA · 31% of rent

---

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 +16.3/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +5.0/10.0
• Livability +4.0/5.0
• Rent growth +3.0/5.0
• Schools +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Sold as is. Cash offer only. Listing broker does not work with unrepresented buyer, please do not call listing office; contact your own agent to see unit.

Key facts

• $494 HOA
• Parking
• Built 1979

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $84k.

Deal economics

• At list price, monthly cash flow is $46 ($552/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $84k).
• Recommended offer: $74k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.0% 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 rising (+2.0%/yr); 213 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 12,577 units permitted in Dallas County in 2024 (6,829 in 5+ unit buildings).
• This rent runs 33% of the median local income ($59k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $581 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Dallas County population projected at +35% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 185 days — a 12% lower offer ($74k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 5y ago; this cycle's ask has dropped $21k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $8k; list at $84k implies a 977% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.8% of price; HOA is 31% of rent.
• 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 $73,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 185 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 1979 — 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. 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: 1.93% ✓
• Cap rate: 6.95%
• Cash-on-cash: 2.35%
• DSCR: 1.10
• GRM: 4.3

CMA / ARV

• ARV (median comp): $137,994
• List price: $84,000
• Delta: -39.13%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.96% rent growth · sell at horizon

5-year hold

• IRR: -14.4%
• Equity multiple: 0.49×
• Total profit: $-11,931
• Equity at exit: $12,525

10-year hold

• IRR: -8.5%
• Equity multiple: 0.51×
• Total profit: $-11,625
• Equity at exit: $7,263

Cash invested: $23,520 (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 75231

• Rents YoY: 2.0%
• Active inventory: 213
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $1,619 high
• Mortgage (P&I): −$441
• Tax from tax record: −$264 /mo · $3,163/yr
• Insurance: −$35
• HOA: −$494
• Vacancy / Maint / Mgmt: −$340
• Net cashflow: $46

Break-even live

Break-even rent $1,561

Max offer price $84,000

Occupancy floor 92%

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: $21,000
• Closing costs: $2,520
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6050 Melody Ln Dallas, TX	1.0–2.0	1.0–2.0	930	$1,382	$1.49	1d	9	0.04mi
6121 Melody Ln Dallas, TX	2.0	2.0	871	$1,390	$1.60	3d	1	0.11mi
6050 Ridgecrest Rd Dallas, TX	2.0	1.0–2.0	732	$1,295	$1.77	2d	14	0.14mi
6014 Ridgecrest Rd Dallas, TX	1.0	1.0	734	$975	$1.33	43d	1	0.15mi
6019 Ridgecrest Rd Unit 202B Dallas, TX	2.0	2.5	1102	$1,895	$1.72	21d	1	0.17mi
8510 Park Ln #102 Dallas, TX	1.0	1.0	700	$1,195	$1.71	10d	1	0.20mi
8510 Park Ln #203 Dallas, TX	1.0	1.0	700	$1,275	$1.82	10d	1	0.20mi
6251 Melody Ln Dallas, TX	1.0–2.0	1.0–2.0	819	$1,395	$1.70	1d	41	0.23mi
8560 Park Ln Unit 130 Dallas, TX	3.0	2.0	1310	$1,795	$1.37	43d	1	0.25mi
7025 Hemlock Ave #305 Dallas, TX	1.0	1.0	720	$1,100	$1.53	43d	1	0.26mi
6262 Melody Ln Dallas, TX	1.0–2.0	1.0–2.0	820	$1,225	$1.49	24d	2	0.26mi
6262 Melody Ln Dallas, TX	1.0–2.0	1.0–2.0	865	$1,485	$1.72	11d	3	0.26mi
6262 Melody Ln Dallas, TX	1.0–2.0	1.0–2.0	750	$1,405	$1.87	11d	4	0.26mi
6262 Melody Ln Dallas, TX	2.0	1.0–2.0	750	$1,362	$1.82	2d	4	0.26mi
5827 Blackwell St Dallas, TX	2.0	1.0	669	$840	$1.26	2d	4	0.27mi
7030 Fair Oaks Ave Unit 108 Dallas, TX	2.0	2.5	983	$1,290	$1.31	43d	1	0.27mi
8560 Park Ln Dallas, TX	3.0	2.0	1310	$1,995	$1.52	43d	1	0.28mi
8560 Park Ln #136 Dallas, TX	2.0	2.0	1100	$1,300	$1.18	24d	1	0.28mi
7107 Holly Hill Dr Unit 104 1 Dallas, TX	1.0	1.0	865	$1,350	$1.56	7d	1	0.46mi
8116 Park Ln Dallas, TX	2.0	2.0	1125	$3,682	$3.27	21d	1	0.46mi
8116 Park Ln Dallas, TX	1.0	1.0	836	$2,100	$2.51	24d	1	0.46mi
8116 Park Ln Dallas, TX	2.0	2.0	1125	$3,682	$3.27	43d	1	0.46mi
8110 Park Ln Dallas, TX	2.0	1.0–2.0	1064	$3,263	$3.07	1d	22	0.49mi
6503 Ridgecrest Rd Apt J Dallas, TX	1.0	1.5	943	$1,250	$1.33	43d	1	0.51mi
8611 Southwestern Blvd Unit 8634 Dallas, TX	2.0	2.0	899	$1,872	$2.08	2d	1	0.53mi
8611 Southwestern Blvd Unit 8668 Dallas, TX	2.0	2.0	899	$1,609	$1.79	13d	1	0.53mi
5829 Phoenix Dr Dallas, TX	2.0	2.0	1493	$1,650	$1.11	24d	1	0.53mi
6211 E Northwest Hwy Unit G224 Dallas, TX	1.0	1.0	721	$1,950	$2.70	24d	1	0.53mi
6211 E Northwest Hwy Unit 500 Dallas, TX	2.0	2.0	1129	$3,300	$2.92	1d	1	0.53mi
6211 Northwest Hwy Unit 400 Dallas, TX	2.0	2.0	1132	$3,000	$2.65	18d	1	0.53mi
6808 Eastridge Dr Unit D3 Dallas, TX	1.0	1.5	1187	$1,600	$1.35	18d	1	0.54mi
6760 Eastridge Dr Unit 102 Dallas, TX	1.0	1.0	725	$1,350	$1.86	18d	1	0.55mi
5750 Phoenix Dr #51 Dallas, TX	1.0	1.0	817	$1,350	$1.65	14d	1	0.56mi
8750 Park Ln Unit 1546129P Dallas, TX	2.0	2.0	1248	$2,663	$2.13	7d	1	0.59mi
5605 Village Glen Dr Dallas, TX	1.0–3.0	1.0–2.5	813	$3,348	$4.11	1d	1	0.62mi
8705 Southwestern Blvd Unit 8738 Dallas, TX	3.0	2.0	1286	$2,911	$2.26	2d	1	0.64mi
8705 Southwestern Blvd Unit 8720 Dallas, TX	1.0	1.0	722	$1,992	$2.76	14d	1	0.64mi
8705 Southwestern Blvd Unit 8720 Dallas, TX	1.0	1.0	722	$1,788	$2.48	2d	1	0.64mi
8705 Southwestern Blvd Unit 8742 Dallas, TX	2.0	2.0	1045	$2,059	$1.97	2d	1	0.64mi
8705 Southwestern Blvd Unit 412 Dallas, TX	1.0	1.0	722	$1,780	$2.47	12d	1	0.64mi

HOA detail condo

• Monthly dues: $494 · $5,928/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 27 events

1. 2026-06-18
   days on market $84,000 Active 185 DOM
2. 2026-06-17
   days on market $84,000 Active 184 DOM
3. 2026-06-16
   days on market $84,000 Active 183 DOM
4. 2026-06-15
   days on market $84,000 Active 182 DOM
5. 2026-06-13
   days on market $84,000 Active 180 DOM
6. 2026-06-09
   days on market $84,000 Active 176 DOM
7. 2026-06-08
   days on market $84,000 Active 175 DOM
8. 2026-06-07
   days on market $84,000 Active 174 DOM
9. 2026-06-04
   days on market $84,000 Active 171 DOM
10. 2026-06-03
    days on market $84,000 Active 170 DOM
11. 2026-06-02
    days on market $84,000 Active 169 DOM
12. 2026-06-02
    days on market $84,000 Active 168 DOM
13. 2026-05-31
    days on market $84,000 Active 167 DOM
14. 2026-05-08
    price $94,000 154-char remark

    Show marketing remark (154 chars)

    Sold as is. Cash offer only. Listing broker does not work with unrepresented buyer, please do not call listing office; contact your own agent to see unit.

15. 2026-03-24
    price $99,000 154-char remark

    Show marketing remark (154 chars)

    Sold as is. Cash offer only. Listing broker does not work with unrepresented buyer, please do not call listing office; contact your own agent to see unit.

16. 2025-12-15
    listed $105,000 Active 154-char remark

    Show marketing remark (154 chars)

    Sold as is. Cash offer only. Listing broker does not work with unrepresented buyer, please do not call listing office; contact your own agent to see unit.

17. 2022-09-27
    historical
18. 2022-07-11
    status Active
19. 2022-06-04
    status Pending
20. 2022-03-04
    status Active
21. 2022-03-02
    status Pending
22. 2022-01-24
    status Pending
23. 2021-10-06
    listed $1,035,000 Active
24. 2010-03-12
    soldstatus $7,800
25. 2008-08-06
    soldstatus $2,350,000
26. 1999-09-23
    soldstatus
27. 1994-08-17
    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: $3,163 · $264/mo
• Projected year-2 tax: $3,163 · $264/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 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,430
• − Mortgage interest: −$4,705
• − Property taxes: −$3,163
• − Insurance: −$420
• − Repairs & maintenance: −$1,554
• − Management: −$1,554
• − HOA: −$5,928
• − Depreciation: −$2,444
• Taxable loss: −$339
• Est. tax savings @ 24.0%: +$81
• After-tax cash flow: $634/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): 38,370
• Household income: $58,540
• Rent vs Own: 81.7% rent · 18.3% own
• Severe rent burden: 3482.0

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: Highly diverse neighborhood (Simpson 0.74)
• Race & ethnicity: Hispanic / Latino 33% White 29% Black 24% Two or more races 13% Asian 9%
• Hispanic origin (detail): Mexican 26%
• Common ancestry: Slovak 1% Lithuanian 1% Romanian 1%
• Foreign-born: 29% · Canada, Philippines, India
• Languages at home: 57% English-only · Spanish 27% Other Asian/Pacific 4% Other Indo-European 3%

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: ▼ -359.41%
• Current HPI: 249.5841
• Rent YoY: ▲ 1.96%
• 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

-96.0% since first listed

14 events — show timeline

• 2026-05-08 Price Changed $94,000 NTREIS
• 2026-03-24 Price Changed $99,000 NTREIS
• 2025-12-15 Listed $105,000 NTREIS
• 2022-09-27 Listing Removed — NTREIS
• 2022-07-11 Relisted — NTREIS
• 2022-06-04 Pending — NTREIS
• 2022-03-04 Relisted — NTREIS
• 2022-03-02 Pending — NTREIS
• 2022-01-24 Pending — NTREIS
• 2021-10-06 Listed $1,035,000 NTREIS
• 2010-03-12 Sold (Public Records) $7,800 Public Records
• 2008-08-06 Sold (Public Records) $2,350,000 Public Records
• 1999-09-23 Sold (Public Records) — Public Records
• 1994-08-17 Sold (Public Records) — Public Records

Property tax history

+7.8%/yr

Latest (2025): $3,163 · +11.6% YoY. Source: county tax records.