2022 Leroy Rd · Dallas, TX 75217

$195,000

3 bd · 2.0 ba · 1,224 sqft · SingleFamily public records · 109 Days on market

Built 1930 7,623 sqft lot $159/sqft · 5% below area Est $206k · 5% under

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Why this score? — see what drove the D 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 +13.6/30.0
• ARV discount +10.0/15.0
• 1% rule +4.6/10.0
• DSCR +4.1/10.0
• Livability +4.0/5.0
• Rent growth +2.8/5.0
• Schools +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Highly accessible location near Highway 635 and Loop 12. This 3 bed, 2 bath residence features a bright living area, functional kitchen and good size bedrooms, large backyard with room to grow or customize your lifestyle. Well situated for convenience to shopping, dinning and transportation. A great started home or investment opportunity.

Key facts

• Large backyard
• 7,623 sq ft lot
• Built 1930

Tags

• LARGE BACKYARD
• CONVENIENCE TO SHOPPING
• CONVENIENCE TO TRANSPORTATION

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $195k.

Deal economics

• At list price, monthly cash flow is $11 ($129/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $186k (4.4% below list).
• Recommended offer: $177k (9.0% below list) — sets the bar for market timing.
• Cap rate 6.4% 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: 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.
• Zoned schools: John W Runyon El (math 37% / reading 32%, grade F, #1,995 of 4,322 statewide, top 50%, 434 students, 93% FRL); Young Men'S Leadership Academy At Fred F Florence (math 18% / reading 19%, grade F, #1,478 of 1,662 statewide, top 90%, 559 students, 81% FRL); W W Samuell H S (math 24% / reading 25%, grade F, #1,264 of 1,632 statewide, top 82%, 1,871 students, 95% FRL).
• Market conditions: Rents rising (+1.0%/yr); 203 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 45% 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).
• This rent runs 40% of the median local income ($56k/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 $1k of loan paydown is wiped out by about $6k 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 109 days — a 9% lower offer ($177k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 19y 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.

Risks & watch-outs

• Watch-outs: built in 1930 — 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 $177,450 (9.0% below list)

Questions for the listing agent

1. It's been on market 109 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.96% ✗
• Cap rate: 6.36%
• Cash-on-cash: 0.24%
• DSCR: 1.01
• GRM: 8.7

CMA / ARV

• ARV (median comp): $206,264
• List price: $195,000
• Delta: -5.46%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2010 Nantucket Village Dr	0.16mi	3/2.0	1,283 (+5%)	5mo	$275,000	$214	80
10922 Limestone Dr	0.35mi	3/2.0	1,268 (+4%)	5mo	$270,000	$213	74
1314 Lorraine Ln	0.41mi	3/2.0	1,173 (-4%)	2mo	$250,000	$213	73
9914 Cedar Mountain Cir	0.48mi	3/2.0	1,202 (-2%)	2mo	$200,000	$166	72
9957 Cedar Mountain Cir	0.50mi	3/2.0	1,196 (-2%)	2mo	$188,000	$157	71
10703 Eastham St	0.10mi	3/2.0	1,046 (-14%)	2mo	$160,000	$153	69
1915 Red Cloud Dr	0.56mi	3/1.5	1,241 (+1%)	2mo	$180,000	$145	68
10315 Oak Gate Ln	0.37mi	3/2.0	1,110 (-9%)	2mo	$175,000	$158	66
9918 Cedar Mountain Cir	0.47mi	4/2.0 (+1)	1,284 (+5%)	3mo	$198,999	$155	63
9912 Bluffcreek Dr	0.51mi	3/2.0	1,101 (-10%)	1mo	$219,900	$200	59
10419 Blackjack Oaks Dr	0.43mi	3/2.0	1,371 (+12%)	2mo	$244,999	$179	58
9666 Limestone Dr	0.72mi	3/2.0	1,048 (-14%)	4mo	$217,500	$208	40

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

Projected returns pro-forma

-3.0% appreciation · 1.02% rent growth · sell at horizon

5-year hold

• IRR: -18.3%
• Equity multiple: 0.37×
• Total profit: $-34,457
• Equity at exit: $29,075

10-year hold

• IRR: -15.4%
• Equity multiple: 0.21×
• Total profit: $-43,081
• Equity at exit: $16,860

Cash invested: $54,600 (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 75217

• Home prices YoY: -4.3%
• Rents YoY: 1.0%
• Active inventory: 203
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,863 high
• Mortgage (P&I): −$1,023
• Tax from tax record: −$358 /mo · $4,290/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$391
• Net cashflow: $11

Break-even live

Break-even rent $1,850

Max offer price $195,000

Occupancy floor 94%

Sensitivity live

Price	-10% $121	-5% $66	+0% $11	+5% $-44	+10% $-100
Rent	-10% $-136	-5% $-63	+0% $11	+5% $84	+10% $158
Rate	-1.0pp $109	-0.5pp $60	base $11	+0.5pp $-40	+1.0pp $-91

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10320 Nantucket Village Ct Dallas, TX	3.0	2.0	1037	$1,645	$1.59	45d	1	0.16mi
10328 Chelmsford Dr Dallas, TX	3.0	1.0	1061	$1,300	$1.23	45d	1	0.23mi
2041 New Haven Dr Dallas, TX	3.0	1.5	1362	$1,720	$1.26	18d	1	0.24mi
10503 Leroy Ct Dallas, TX	3.0	2.0	1253	$1,941	$1.55	9d	1	0.25mi
2315 Summit Ln Dallas, TX	3.0	2.0	1200	$1,800	$1.50	9d	1	0.27mi
2123 Chatham Square Ct Dallas, TX	4.0	2.5	1464	$2,500	$1.71	5d	1	0.28mi
2255 Nantucket Village Dr Dallas, TX	3.0	2.0	1037	$1,625	$1.57	45d	1	0.29mi
10315 Limestone Dr Dallas, TX	2.0	2.0	1068	$1,450	$1.36	45d	1	0.32mi
10320 Carolina Oaks Dr Dallas, TX	4.0	2.0	1453	$1,900	$1.31	9d	1	0.32mi
10340 Blackjack Oaks Dr Dallas, TX	3.0	2.0	1182	$1,650	$1.40	0d	1	0.37mi
10206 Shayna Dr Dallas, TX	3.0	2.0	1253	$1,850	$1.48	15d	1	0.42mi
10216 Blackjack Oaks Dr Dallas, TX	3.0	2.0	1453	$1,860	$1.28	0d	1	0.43mi
1939 Naira Dr Dallas, TX	3.0	2.0	1415	$1,850	$1.31	45d	1	0.44mi
9920 Bluffcreek Dr Dallas, TX	4.0	2.0	1377	$2,191	$1.59	26d	1	0.47mi
9921 Cedar Mountain Cir Dallas, TX	3.0	2.0	1202	$1,895	$1.58	45d	1	0.48mi
1705 Allentown Dr Dallas, TX	3.0	2.0	1195	$1,725	$1.44	26d	1	0.49mi
10611 Woodleaf Dr Dallas, TX	2.0	2.0	959	$1,650	$1.72	9d	1	0.50mi
10611 Woodleaf Dr Dallas, TX	2.0	2.0	959	$1,695	$1.77	18d	1	0.50mi
2540 Winter Oak St Dallas, TX	3.0	2.0	994	$1,750	$1.76	22d	1	0.52mi
10236 Hillhouse Ln Dallas, TX	3.0	2.0	1323	$1,600	$1.21	45d	1	0.54mi
10212 Hillhouse Ln Dallas, TX	2.0	1.0	1183	$1,499	$1.27	9d	1	0.56mi
2603 Winter Oak St Dallas, TX	3.0	2.0	1004	$1,921	$1.91	45d	1	0.57mi
1937 Red Cloud Dr Dallas, TX	3.0	2.0	1196	$1,695	$1.42	45d	1	0.57mi
2255 W Bruton Rd Mesquite, TX	1.0–3.0	1.0–2.0	957	$1,819	$1.90	45d	12	0.58mi
1415 Amity Ln Dallas, TX	3.0	2.0	1364	$1,780	$1.30	45d	1	0.73mi
10125 Muskogee Dr Dallas, TX	4.0	2.0	1400	$1,999	$1.43	45d	1	0.75mi
10125 Muskogee Dr Dallas, TX	4.0	2.0	1477	$1,900	$1.29	26d	1	0.75mi
10121 Muskogee Dr Dallas, TX	3.0	2.0	1381	$1,900	$1.38	26d	1	0.76mi
10348 Wood Heights Dr Dallas, TX	3.0	2.5	1358	$2,000	$1.47	45d	1	0.76mi
9645 Limestone Dr Dallas, TX	3.0	2.0	1178	$2,000	$1.70	45d	1	0.77mi
10410 Cymbal Dr Dallas, TX	2.0	1.5	1128	$1,350	$1.20	1d	1	0.77mi
11405 S Blossom Cir Balch Springs, TX	2.0	1.0	920	$1,500	$1.63	3d	1	0.79mi
2708 Briarbank Cir Dallas, TX	3.0	2.0	1349	$1,840	$1.36	5d	1	0.80mi
9415 Bruton Rd Dallas, TX	1.0–3.0	1.0–2.0	885	$999	$1.13	45d	1	0.91mi
9503 Olde Towne Row Dallas, TX	2.0	2.5	1140	$1,350	$1.18	45d	1	0.93mi
9467 Olde Towne Row Dallas, TX	2.0	1.5	1110	$975	$0.88	45d	1	0.97mi
2198 Aspen Dr Dallas, TX	2.0	1.5	1110	$1,300	$1.17	1d	1	1.03mi
2198 Aspen Dr Dallas, TX	2.0	1.5	1110	$1,300	$1.17	5d	1	1.03mi
2194 Aspen Dr Dallas, TX	2.0	1.5	1110	$1,200	$1.08	9d	1	1.03mi
2025 Norcross Dr Mesquite, TX	3.0	2.0	1281	$1,850	$1.44	45d	1	1.03mi

Listing history 7 events

1. 2026-03-18
   price $195,000 340-char remark

   Show marketing remark (340 chars)

   Highly accessible location near Highway 635 and Loop 12. This 3 bed, 2 bath residence features a bright living area, functional kitchen and good size bedrooms, large backyard with room to grow or customize your lifestyle. Well situated for convenience to shopping, dinning and transportation. A great started home or investment opportunity.

2. 2026-02-06
   listed $200,000 Active 340-char remark

   Show marketing remark (340 chars)

   Highly accessible location near Highway 635 and Loop 12. This 3 bed, 2 bath residence features a bright living area, functional kitchen and good size bedrooms, large backyard with room to grow or customize your lifestyle. Well situated for convenience to shopping, dinning and transportation. A great started home or investment opportunity.

3. 2007-03-02
   soldstatus 314-char remark

   Show marketing remark (314 chars)

   INVESTORS, BRING ALL OFFERS! Charming property on a treed lot. Will make a great rental with minimal TLC. Schedule a showing today. This deal won't last long. * * * Buyer will verify all measurements, schools, & code violations (if any). ALL INQUIRIES ARE TO BE DIRECTED TO LINDSEY ELMQUIST @ [phone].

4. 2007-03-01
   soldstatus
5. 2007-02-13
   soldstatus
6. 2007-02-08
   historical 314-char remark

   Show marketing remark (314 chars)

   INVESTORS, BRING ALL OFFERS! Charming property on a treed lot. Will make a great rental with minimal TLC. Schedule a showing today. This deal won't last long. * * * Buyer will verify all measurements, schools, & code violations (if any). ALL INQUIRIES ARE TO BE DIRECTED TO LINDSEY ELMQUIST @ [phone].

7. 2007-02-05
   listed $16,900 314-char remark

   Show marketing remark (314 chars)

   INVESTORS, BRING ALL OFFERS! Charming property on a treed lot. Will make a great rental with minimal TLC. Schedule a showing today. This deal won't last long. * * * Buyer will verify all measurements, schools, & code violations (if any). ALL INQUIRIES ARE TO BE DIRECTED TO LINDSEY ELMQUIST @ [phone].

ⓘ 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: $4,290 · $358/mo
• Projected year-2 tax: $4,290 · $358/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 ≥110°F today · 23 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,362
• − Mortgage interest: −$10,923
• − Property taxes: −$4,290
• − Insurance: −$975
• − Repairs & maintenance: −$1,789
• − Management: −$1,789
• − Depreciation: −$5,673
• Taxable loss: −$3,078
• Est. tax savings @ 24.0%: +$739
• After-tax cash flow: $868/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): 85,028
• Household income: $55,723
• Rent vs Own: 37.2% rent · 62.8% own
• Severe rent burden: 2649.0

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: Predominantly Hispanic (73%)
• Race & ethnicity: Hispanic / Latino 73% Two or more races 34% Black 20% White 6%
• Hispanic origin (detail): Mexican 68%
• Foreign-born: 30% · Canada, Philippines
• Languages at home: 34% English-only · Spanish 65% Other Asian/Pacific 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: ▼ -17.04%
• Current HPI: 382.5527
• Rent YoY: ▲ 1.02%
• 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

+1053.8% since first listed

7 events — show timeline

• 2026-03-18 Price Changed $195,000 NTREIS
• 2026-02-06 Listed $200,000 NTREIS
• 2007-03-02 Sold (MLS) — NTREIS
• 2007-03-01 Sold (Public Records) — Public Records
• 2007-02-13 Sold (Public Records) — Public Records
• 2007-02-08 Listing Removed — NTREIS
• 2007-02-05 Listed $16,900 NTREIS

Property tax history

+9.9%/yr

Latest (2025): $4,290 · +32.5% YoY. Source: county tax records.