3931 N Garland Ave #1 · Garland, TX 75040

$150,000

2 bd · 1.5 ba · 1,017 sqft · Condo public records · 9 Days on market

Built 1984 $295/mo HOA · 16% of rent

---

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 +11.5/30.0
• ARV discount +7.5/15.0
• 1% rule +7.1/10.0
• Livability +3.7/5.0
• DSCR +3.4/10.0
• Schools +2.9/10.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Perfect starter home or investment opportunity! This charming condo at 3931 N Garland Rd, Suite 1 offers comfortable, low-maintenance living in a convenient Garland location. Featuring a functional floor plan, spacious living area, and abundant natural light, this home is ideal for first-time buyers, downsizers, or investors. Enjoy easy access to shopping, dining, parks, schools, and major highways, making daily commuting a breeze. Affordable, move-in ready, and full of potential—don't miss this excellent opportunity to own instead of rent!

Key facts

• Spacious living area
• Convenient location
• $295 HOA

Tags

• INVESTMENT OPPORTUNITY
• LOW MAINTENANCE LIVING
• CONVENIENT LOCATION
• FUNCTIONAL FLOOR PLAN
• SPACIOUS LIVING AREA
• ABUNDANT NATURAL LIGHT

Property features AI

Finance

• Other: Possession 60–90 days or at closing/funding
• Financial info: Accepts cash and conventional financing
• HOA & community: Mandatory association; Association fee $295 per month; HOA management: Winter Park

Exterior

• Parking: Concrete parking
• Utilities: City water; City sewer; All-weather road
• Home design: Residential condominium; Attached property; Single-story building (unit is in a two-level property); Built in 1984; Complex: Winter Park Place; Subdivision: Tomlinson Square-Winter Park
• Construction: Year built 1984
• Exterior features: Condo/townhome lot; Front yard maintenance included in association

Interior

• Kitchen: Dishwasher; Disposal; Electric oven; Electric range
• Bedrooms: Primary bedroom located on level 2 (approx. 10 x 10)
• Bathrooms: 1 full bathroom; 1 half bathroom (2 total bathrooms)
• Heating & cooling: Central heat; Central air conditioning
• Interior features: Cable TV available; One living area; One dining area; Two levels

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $150k.

Deal economics

• At list price, monthly cash flow is $-50 ($-606/yr) — negative.
• To cash-flow at today's rent, offer at most $141k (5.9% below list).
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $141k (5.9% below list) — sets the bar for cash-flow.
• Cap rate 5.9% vs local median 3.5% in Garland — 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 74/100 on livability (#165 in TX, #4,447 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, cost of living A-; Watch: amenities C-, schools D+, health & safety F.
• Garland ISD (suburban): math 27% / reading 37% proficiency, ranked #553 of 826 in TX (top 67%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents flat; 232 active listings in the ZIP; 39 comparable units currently listed for rent nearby; rentals leasing fast (median 9d on market — plan ~1-2 weeks tenant-placement turnaround); 12,577 units permitted in Dallas County in 2024 (6,829 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k 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

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 12y 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: property tax is 2.7% of price.
• 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 $141,084 (5.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. 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?
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: 1.21% ✓
• Cap rate: 5.89%
• Cash-on-cash: -1.44%
• DSCR: 0.94
• GRM: 6.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.43% rent growth · sell at horizon

5-year hold

• IRR: -22.7%
• Equity multiple: 0.24×
• Total profit: $-31,793
• Equity at exit: $22,365

10-year hold

• IRR: -30.9%
• Equity multiple: -0.15×
• Total profit: $-48,425
• Equity at exit: $12,969

Cash invested: $42,000 (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 75040

• Rents YoY: 0.4%
• Active inventory: 232
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,814 high
• Mortgage (P&I): −$787
• Tax from tax record: −$340 /mo · $4,076/yr
• Insurance: −$62
• HOA: −$295
• Vacancy / Maint / Mgmt: −$381
• Net cashflow: $-50

Break-even live

Break-even rent $1,878

Max offer price $141,084

Occupancy floor 98%

Sensitivity live

Price	-10% $34	-5% $-8	+0% $-50	+5% $-93	+10% $-135
Rent	-10% $-194	-5% $-122	+0% $-50	+5% $21	+10% $93
Rate	-1.0pp $25	-0.5pp $-12	base $-50	+0.5pp $-89	+1.0pp $-129

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 39 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3939 N Garland Ave Unit 4 Garland, TX	3.0	1.5	1038	$1,550	$1.49	8d	1	0.03mi
3931 N Garland Ave #4 Garland, TX	3.0	1.5	1038	$1,695	$1.63	25d	1	0.03mi
3864 Brandon Park Dr Garland, TX	2.0	1.0	800	$1,800	$2.25	44d	1	0.07mi
3934 Brandon Park Dr Garland, TX	3.0	3.0	1460	$1,899	$1.30	44d	1	0.10mi
3936 Brandon Park Dr Garland, TX	3.0	3.0	1460	$1,850	$1.27	44d	1	0.10mi
3946 Brandon Park Dr Garland, TX	2.0	2.0	1133	$1,750	$1.54	44d	1	0.11mi
3805 Brandon Park Dr Garland, TX	2.0	2.5	1243	$1,750	$1.41	8d	1	0.11mi
3938 Pickett Pl Garland, TX	3.0	2.5	1353	$1,819	$1.34	15d	1	0.17mi
1802 Apollo Rd Garland, TX	1.0–2.0	1.0–2.0	852	$1,465	$1.72	0d	24	0.17mi
1961 Arapaho Rd Garland, TX	3.0	1.0–2.5	914	$1,898	$2.08	0d	27	0.23mi
4501 N Garland Ave Garland, TX	1.0–3.0	1.0–2.0	1005	$1,838	$1.83	0d	41	0.27mi
1715 Highgate Pl Garland, TX	3.0	2.0	1254	$2,095	$1.67	3d	1	0.30mi
1715 Highgate Pl Garland, TX	3.0	2.0	1254	$2,095	$1.67	44d	1	0.30mi
1715 Highgate Pl Garland, TX	3.0	2.0	1254	$1,995	$1.59	7d	1	0.30mi
2379 Apollo Rd Garland, TX	1.0–2.0	1.0–2.0	820	$1,495	$1.82	0d	17	0.41mi
1804 Highbrook Ct Garland, TX	3.0	2.5	1397	$1,950	$1.40	25d	1	0.45mi
2334 Angel Fire Dr Garland, TX	3.0	2.0	1354	$2,400	$1.77	44d	1	0.53mi
3232 N Garland Ave Garland, TX	2.0	2.0	1237	$2,575	$2.08	8d	15	0.59mi
4386 Lawrence Dr Garland, TX	2.0	1.0–2.0	900	$1,425	$1.58	21d	1	0.61mi
4386 Lawrence Dr Garland, TX	2.0	2.0	900	$1,592	$1.77	8d	8	0.61mi
3233 N Garland Ave Garland, TX	1.0–2.0	1.0–2.0	967	$2,350	$2.43	44d	1	0.64mi
5501 Naaman Forest Blvd Garland, TX	1.0–3.0	1.0–2.0	979	$1,551	$1.58	0d	59	0.69mi
2601 Nova Dr Garland, TX	2.0	2.0	1440	$1,895	$1.32	21d	1	0.72mi
2735 N Garland Ave Garland, TX	2.0	2.0–2.5	1387	$1,844	$1.33	0d	4	0.89mi
2902 Southern Cross Dr Garland, TX	2.0	1.5	1196	$1,875	$1.57	8d	1	0.95mi
2902 Southern Cross Dr Garland, TX	2.0	1.5	1196	$1,950	$1.63	23d	1	0.95mi
2505 Crown Cir Garland, TX	3.0	2.0	1452	$2,065	$1.42	44d	1	0.96mi
2114 Richwood Dr Garland, TX	3.0	2.0	1328	$2,000	$1.51	44d	1	0.97mi
2929 Pegasus Dr Garland, TX	2.0	1.5	1196	$1,650	$1.38	5d	1	1.01mi
2929 Pegasus Dr Garland, TX	2.0	2.0	1196	$1,650	$1.38	44d	1	1.01mi
2918 Pinewood Dr Garland, TX	3.0	2.0	1496	$2,050	$1.37	0d	1	1.03mi
2614 Saint George Dr Garland, TX	3.0	2.0	1381	$2,280	$1.65	0d	1	1.05mi
5151 N President George Bush Hwy Garland, TX	1.0–2.0	1.0–2.0	902	$2,293	$2.54	8d	19	1.09mi
3106 Gayle Dr Garland, TX	3.0	2.0	1400	$2,000	$1.43	8d	1	1.14mi
6221 Naaman Forest Blvd Garland, TX	1.0–4.0	1.0–4.0	1157	$1,632	$1.41	0d	46	1.19mi
6305 N President George Bush Hwy Garland, TX	1.0–2.0	1.0–2.0	924	$2,195	$2.38	0d	26	1.26mi
3211 Roundtree Ln Garland, TX	3.0	2.5	1442	$2,200	$1.53	25d	1	1.26mi
2930 Churchill Way Garland, TX	3.0	2.0	1361	$2,250	$1.65	0d	1	1.39mi
6200 N Shiloh Rd Garland, TX	1.0–3.0	1.0–2.0	992	$1,895	$1.91	0d	44	1.40mi

HOA detail condo

• Monthly dues: $295 · $3,540/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 7 events

1. 2026-06-21
   days on market $150,000 Active 9 DOM
2. 2026-06-18
   days on market $150,000 Active 6 DOM
3. 2026-06-17
   days on market $150,000 Active 5 DOM
4. 2026-06-16
   days on market $150,000 Active 4 DOM
5. 2026-06-15
   days on market $150,000 Active 3 DOM
6. 2026-06-13
   remarks 546-char remark
7. 2026-06-13
   listed $150,000 Active 1 DOM

ⓘ 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: $4,076 · $340/mo
• Projected year-2 tax: $4,076 · $340/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 · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,772
• − Mortgage interest: −$8,402
• − Property taxes: −$4,076
• − Insurance: −$750
• − Repairs & maintenance: −$1,742
• − Management: −$1,742
• − HOA: −$3,540
• − Depreciation: −$4,364
• Taxable loss: −$2,844
• Est. tax savings @ 24.0%: +$682
• After-tax cash flow: $77/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: Garland ISD
• NCES district ID: 4820340
• Math proficiency: 27% ▼ -23.00%
• Reading proficiency: 37% ▼ -10.00%
• Median HH income: $58,392
• Composite: 28.63/100
• National rank: #6706
• State rank: #553 of 826 in TX

Livability — Garland

• Score: 74/100
• State rank: #165
• US rank: #4447

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Garland, TX
• County: Dallas County · 2,612,404 people
• City population: 246,342
• Metro: Dallas-Fort Worth-Arlington, TX
• Population (ZIP): 64,606
• Household income: $74,519
• Rent vs Own: 33.2% rent · 66.8% own
• Severe rent burden: 1746.0

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 0.69)
• Race & ethnicity: Hispanic / Latino 48% Two or more races 29% White 21% Black 15% Asian 11%
• Hispanic origin (detail): Mexican 38% Puerto Rican 1%
• Common ancestry: Lithuanian 1% Romanian 1%
• Foreign-born: 33% · Canada, Vietnam, China
• Languages at home: 45% English-only · Spanish 40% Vietnamese 7% Other Indo-European 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: ▼ -203.91%
• Current HPI: 325.6966
• Rent YoY: ▲ 0.43%
• 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

+87.5% since first listed

19 events — show timeline

• 2026-06-12 Listed $150,000 NTREIS
• 2025-10-31 Listing Removed — NTREIS
• 2025-10-10 Price Changed $159,000 NTREIS
• 2025-05-13 Listed $175,000 NTREIS
• 2021-06-09 Listing Removed — NTREIS
• 2021-05-03 Relisted — NTREIS
• 2021-04-02 Pending — NTREIS
• 2021-04-01 Listing Removed — NTREIS
• 2021-03-16 Listed $123,000 NTREIS
• 2019-12-22 Pending — NTREIS
• 2019-12-19 Contingent — NTREIS
• 2019-12-15 Listing Removed — NTREIS
• 2019-10-18 Listed $98,000 NTREIS
• 2015-04-13 Sold (Public Records) — Public Records
• 2014-11-01 Listing Removed — NTREIS
• 2014-10-04 Price Changed $70,000 NTREIS
• 2014-09-15 Listed $80,000 NTREIS
• 2003-06-03 Sold (Public Records) — Public Records
• 2003-02-05 Sold (Public Records) — Public Records

Property tax history

+7.7%/yr

Latest (2025): $4,076 · +5.3% YoY. Source: county tax records.