3332 Rutledge St · Dallas, TX 75215

$172,500

4 bd · 4.0 ba · 1,200 sqft · MultiFamily public records · 93 Days on market

Built 1974 Good condition 4,617 sqft lot $144/sqft · at area comps Est $199k · 13% under

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Why this score? — see what drove the A- 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
• ARV discount +13.4/15.0
• DSCR +10.0/10.0
• 1% rule +8.3/10.0
• Appreciation +5.4/10.0
• Rent growth +4.3/5.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• Schools +2.8/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 2 units. estimate disagrees with records

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

Investor-friendly duplex just minutes from downtown Dallas, offering immediate cash flow with both units currently tenant-occupied. Each unit features a well-designed 1-bedroom, 1-bathroom layout, making this property an ideal low-maintenance addition to any rental portfolio. Whether you're an experienced investor looking to expand or just getting started, this property presents a strong opportunity with automatic income already in place. Conveniently located near major highways, providing easy access to downtown, Fair Park, employment centers, dining, and entertainment. Don’t miss this chance to own a performing asset in a highly accessible rental area. Seller is also selling other homes nearby. Consider a portfolio loan for all of these listed properties: 2415 Bethurum, 2415 Dathe, 3622 Cauthorn, 3111 Arizona, 3332 Rutledge.

Key facts

• 4,617 sq ft lot
• 4 parking spots
• Built 1974

What this means for you Summary

Snapshot

• This is a 2 × 1-bed/1.0-bath units multifamily listed at $172k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $712 ($9k/yr) — positive. Per door: $356/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $172k).
• Recommended offer: $157k (9.0% below list) — sets the bar for market timing.
• Cap rate 11.2% 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 fast (+7.2%/yr); 248 active listings in the ZIP; 34 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 12,577 units permitted in Dallas County in 2024 (6,829 in 5+ unit buildings).
• At $2,290/mo this rent would consume 60% of the median local household income ($46k/yr) (locally 1464% 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 $3k of equity ($1k loan paydown + $1k appreciation (0.8% local appreciation)).
• Dallas County population projected at +35% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (0.8% appreciation + 7.2% rent growth), your $48k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 93 days — a 9% lower offer ($157k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Recommended offer $156,975 (9.0% below list)

Questions for the listing agent

1. It's been on market 93 days. Have you received any prior offers? Is the seller open to a 9% 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 1974 — 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: 1.33% ✓
• Cap rate: 11.25%
• Cash-on-cash: 17.69%
• DSCR: 1.79
• GRM: 6.3

CMA / ARV

• ARV (median comp): $198,783
• List price: $172,500
• Delta: -13.22%
• Verdict: UNDERPRICED
• Comps: 8 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2703 Burger Ave	0.71mi	4/2.0	1,380 (+15%)	10mo	$155,000	$112	25

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

Projected returns pro-forma

0.79% appreciation · 7.19% rent growth · sell at horizon

5-year hold

• IRR: 22.5%
• Equity multiple: 2.18×
• Total profit: $56,851
• Equity at exit: $57,004

10-year hold

• IRR: 28.1%
• Equity multiple: 4.79×
• Total profit: $183,063
• Equity at exit: $74,316

Cash invested: $48,300 (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 75215

• Home prices YoY: 0.3%
• Rents YoY: 7.2%
• Active inventory: 248
• Price-to-rent: 12.6×

Monthly cashflow live

• Estimated rent: $2,290 high
• Mortgage (P&I): −$905
• Tax from tax record: −$120 /mo · $1,445/yr
• Insurance: −$72
• HOA: −$0
• Vacancy / Maint / Mgmt: −$481
• Net cashflow: $712

Break-even live

Break-even rent $1,388

Max offer price $172,500

Occupancy floor 64%

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

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$2,290
Total (2 units)			$2,290

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: $43,125
• Closing costs: $5,175
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3408 Spring Ave Dallas, TX	3.0	2.0	780	$1,340	$1.72	6d	1	0.04mi
3915 Coolidge St Dallas, TX	4.0	2.0	1416	$2,100	$1.48	44d	1	0.17mi
3907 Roberts Ave Dallas, TX	3.0	1.0	908	$1,395	$1.54	15d	1	0.22mi
3639 Pine St Dallas, TX	3.0	2.0	1090	$1,490	$1.37	14d	1	0.22mi
2714 Hector St Dallas, TX	3.0	2.0	1233	$2,100	$1.70	24d	1	0.23mi
3726 Copeland St Dallas, TX	3.0	2.0	1298	$1,690	$1.30	6d	1	0.32mi
4503 Bradshaw St Dallas, TX	4.0	2.0	1263	$1,600	$1.27	7d	1	0.33mi
3619 York St Dallas, TX	3.0	2.0	1298	$1,740	$1.34	7d	1	0.37mi
4611 Bradshaw St Dallas, TX	3.0	2.0	1145	$1,550	$1.35	24d	1	0.40mi
3801 Carpenter Ave Dallas, TX	4.0	2.0	1454	$2,400	$1.65	44d	1	0.40mi
3526 Elsie Faye Heggins St Dallas, TX	3.0	2.0	1113	$1,795	$1.61	24d	1	0.48mi
3526 Elsie Faye Heggins St Dallas, TX	3.0	2.0	1113	$1,795	$1.61	7d	1	0.49mi
2822 McDermott Ave Dallas, TX	3.0	2.0	1200	$1,795	$1.50	24d	1	0.51mi
2847 Metropolitan Ave Dallas, TX	3.0	1.0	1344	$2,050	$1.53	22d	1	0.53mi
3627 Sidney St Dallas, TX	3.0	2.0	1090	$1,614	$1.48	6d	1	0.54mi
4722 Meadow St Dallas, TX	2.0–3.0	2.0	1107	$1,475	$1.33	11d	4	0.58mi
2724 Swanson St Dallas, TX	4.0	2.0	1368	$2,350	$1.72	44d	1	0.58mi
4024 Myrtle St Dallas, TX	3.0	2.0	1106	$1,595	$1.44	5d	1	0.59mi
2720 Morning Ave Dallas, TX	3.0	2.0	1332	$2,350	$1.76	44d	1	0.62mi
4303 Jamaica St Dallas, TX	3.0	2.0	1027	$1,375	$1.34	6d	1	0.66mi
3711 Guaranty St Dallas, TX	3.0	1.0	984	$1,800	$1.83	15d	1	0.70mi
2627 Elsie Faye Heggins St Dallas, TX	3.0	2.0	876	$1,280	$1.46	44d	1	0.85mi
2829 Oakdale St Dallas, TX	3.0	2.0	1028	$1,840	$1.79	7d	1	0.85mi
2840 Oakdale St Dallas, TX	3.0	2.0	1379	$1,900	$1.38	44d	1	0.86mi
2615 Elsie Faye Heggins St Dallas, TX	3.0	2.0	876	$1,280	$1.46	15d	1	0.86mi
2603 Elsie Faye Heggins St Dallas, TX	3.0	2.0	876	$1,385	$1.58	44d	1	0.87mi
2563 Elsie Faye Heggins St Dallas, TX	3.0	2.0	876	$1,240	$1.42	15d	1	0.89mi
2561 Elsie Faye Heggins St Dallas, TX	3.0	2.0	876	$1,390	$1.59	6d	1	0.89mi
4706 Spring Ave Dallas, TX	3.0	2.0	1287	$3,900	$3.03	44d	1	0.92mi
5000 Linder Ave Dallas, TX	3.0	2.0	1327	$1,950	$1.47	44d	1	0.94mi
4525 Metropolitan Ave Dallas, TX	3.0	2.0	1090	$1,490	$1.37	14d	1	0.94mi
5221 Grovewood St Dallas, TX	3.0	1.5	840	$1,400	$1.67	44d	1	0.95mi
5340 Dimple Jackson St Dallas, TX	3.0	2.0	1298	$1,864	$1.44	6d	1	1.10mi
4717 Owenwood Ave Dallas, TX	3.0	2.0	1090	$1,490	$1.37	14d	1	1.19mi

Listing history 23 events

1. 2026-06-18
   days on market $172,500 Active 93 DOM
2. 2026-06-17
   pricedays on market $172,500 Active 92 DOM
3. 2026-06-16
   days on market $179,500 Active 91 DOM
4. 2026-06-15
   days on market $179,500 Active 90 DOM
5. 2026-06-13
   days on market $179,500 Active 88 DOM
6. 2026-06-09
   days on market $179,500 Active 84 DOM
7. 2026-06-08
   days on market $179,500 Active 83 DOM
8. 2026-06-07
   days on market $179,500 Active 82 DOM
9. 2026-06-04
   pricedays on market $179,500 Active 79 DOM
10. 2026-06-03
    days on market $180,000 Active 78 DOM
11. 2026-06-02
    days on market $180,000 Active 77 DOM
12. 2026-06-02
    days on market $180,000 Active 76 DOM
13. 2026-05-31
    days on market $180,000 Active 75 DOM
14. 2026-03-17
    listed $180,000 Active 844-char remark

    Show marketing remark (844 chars)

    Investor-friendly duplex just minutes from downtown Dallas, offering immediate cash flow with both units currently tenant-occupied. Each unit features a well-designed 1-bedroom, 1-bathroom layout, making this property an ideal low-maintenance addition to any rental portfolio. Whether you're an experienced investor looking to expand or just getting started, this property presents a strong opportunity with automatic income already in place. Conveniently located near major highways, providing easy access to downtown, Fair Park, employment centers, dining, and entertainment. Don’t miss this chance to own a performing asset in a highly accessible rental area. Seller is also selling other homes nearby. Consider a portfolio loan for all of these listed properties: 2415 Bethurum, 2415 Dathe, 3622 Cauthorn, 3111 Arizona, 3332 Rutledge.

15. 2026-03-04
    historical
16. 2026-01-29
    price $195,000
17. 2026-01-29
    status Active
18. 2026-01-22
    historical Active Option Contract
19. 2025-11-18
    listed $215,000 Active
20. 2024-03-31
    historical $900
21. 2024-03-14
    price $900
22. 2024-03-13
    listed $1,200
23. 2023-06-23
    historical

ⓘ 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: $1,445 · $120/mo
• Projected year-2 tax: $3,157 · $263/mo
• Expected delta: +$1,712/yr (+$143/mo · 118.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $27,480
• − Mortgage interest: −$9,663
• − Property taxes: −$1,445
• − Insurance: −$862
• − Repairs & maintenance: −$2,198
• − Management: −$2,198
• − Depreciation: −$5,018
• Taxable income: $6,095
• Est. tax owed @ 24.0%: −$1,463
• After-tax cash flow: $7,084/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.

Condition & rehab AI · 10 photos

Good 80/100 Cosmetic rehab

This investor-friendly duplex is in good condition with minimal repairs needed. It offers a strong opportunity for rental income and can be further enhanced with cosmetic updates to the exterior and interior.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance the curb appeal and interior aesthetics, making the property more attractive to potential buyers and renters.
• Both Updating the flooring — Replacing worn-out flooring can improve the overall look and feel of the property, making it more appealing to both buyers and renters.
• Both Upgrading the kitchen appliances — Modernizing the kitchen with new appliances can increase the property's value and attract more renters and buyers.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior walls — Fresh paint can enhance the curb appeal and interior aesthetics, making the property more attractive to potential buyers and renters. ↑
• Both Updating the flooring — Replacing worn-out flooring can improve the overall look and feel of the property, making it more appealing to both buyers and renters. ↑
• Both Upgrading the kitchen appliances — Modernizing the kitchen with new appliances can increase the property's value and attract more renters and buyers. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 18,895
• Household income: $45,557
• Rent vs Own: 61.8% rent · 38.2% own
• Severe rent burden: 1464.0

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 0.58)
• Race & ethnicity: Black 59% Hispanic / Latino 25% White 11% Two or more races 10%
• Hispanic origin (detail): Mexican 21%
• Common ancestry: Italian 1% Hispanic 1%
• Foreign-born: 16% · Canada
• Languages at home: 74% English-only · Spanish 26%

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: ▲ 0.79%
• Current HPI: 224.2955
• Rent YoY: ▲ 7.19%
• 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

+14900.0% since first listed

10 events — show timeline

• 2026-03-17 Listed $180,000 NTREIS
• 2026-03-04 Listing Removed — NTREIS
• 2026-01-29 Price Changed $195,000 NTREIS
• 2026-01-29 Relisted — NTREIS
• 2026-01-22 Contingent — NTREIS
• 2025-11-18 Listed $215,000 NTREIS
• 2024-03-31 Rental Removed $900 APPFOLIO
• 2024-03-14 Price Changed $900 APPFOLIO
• 2024-03-13 Listed for Rent $1,200 APPFOLIO
• 2023-06-23 Rental Removed — APPFOLIO