4607 Spring Garden St · Dallas, TX 75215

$99,900

2 bd · 1.0 ba · 800 sqft · SingleFamily public records · 43 Days on market

Built 1928 5,009 sqft lot $125/sqft · 39% below area Est $165k · 39% under ↓ 17% since listing

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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 +28.1/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.7/10.0
• Appreciation +5.4/10.0
• Rent growth +4.3/5.0
• Livability +4.0/5.0
• Schools +2.8/10.0
• Condition / age +2.5/5.0

Listing remarks MLS

This charming 2-bedroom, 1-bath home, built in 1928, combines modern conveniences with comfortable living with siding exterior adds classic appeal, while the large backyard offers ample space for outdoor activities and relaxation. Conveniently located near major freeways, shopping, dining, and more, this owner-occupied home offers both comfort and accessibility. To help visualize this homes floor plan and to highlight its potential virtual furnishings may have been added to photos found in this listing.

Key facts

• Major freeways
• Siding exterior
• Large backyard

Tags

• SIDING EXTERIOR
• LARGE BACKYARD
• MAJOR FREEWAYS
• SHOPPING
• DINING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $313 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $97k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.1% 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); 247 active listings in the ZIP; 35 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).
• This rent runs 39% of the median local income ($46k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $1k of equity ($691 loan paydown + $788 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 $28k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 6y ago; this cycle's ask has dropped $10k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.4% of price; built in 1928 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $96,903 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1928 — 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. 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. 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.
7. 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.
8. 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: 1.47% ✓
• Cap rate: 10.05%
• Cash-on-cash: 13.43%
• DSCR: 1.60
• GRM: 5.7

CMA / ARV

• ARV (median comp): $164,945
• List price: $99,900
• Delta: -39.43%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4607 Spring Garden St	0.00mi	2/1.0	800 (0%)	0mo	$99,900	$125	100
3115 Carpenter	0.23mi	2/1.0	842 (+5%)	6mo	$169,000	$201	75
2915 Reed Ln	0.41mi	2/1.0	836 (+4%)	5mo	$175,000	$209	69
3030 Pine St	0.35mi	2/1.0	744 (-7%)	8mo	$85,000	$114	65
3827 Frank St	0.71mi	2/1.0	816 (+2%)	2mo	$75,500	$93	62
2911 Reed Ln	0.42mi	2/1.0	744 (-7%)	11mo	$80,000	$108	59
2839 Frost Ave	0.58mi	2/2.0	876 (+10%)	3mo	$189,000	$216	51
3119 Tuskegee St	0.58mi	2/1.0	720 (-10%)	12mo	$85,000	$118	46
5115 Echo Ave	0.68mi	2/1.0	876 (+10%)	7mo	$110,000	$126	46
3121 Metropolitan Ave	0.73mi	2/2.0	843 (+5%)	12mo	$249,900	$296	43
2831 Marburg St	0.40mi	3/2.0 (+1)	900 (+12%)	11mo	$235,000	$261	42
2918 Morning Ave	0.73mi	3/1.0 (+1)	882 (+10%)	2mo	$115,000	$130	42

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: 18.6%
• Equity multiple: 1.98×
• Total profit: $27,374
• Equity at exit: $33,013

10-year hold

• IRR: 25.0%
• Equity multiple: 4.45×
• Total profit: $96,460
• Equity at exit: $43,039

Cash invested: $27,972 (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: 247
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,473 high
• Mortgage (P&I): −$524
• Tax from tax record: −$285 /mo · $3,417/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$309
• Net cashflow: $313

Break-even live

Break-even rent $1,076

Max offer price $99,900

Occupancy floor 74%

Sensitivity live

Price	-10% $370	-5% $341	+0% $313	+5% $285	+10% $257
Rent	-10% $197	-5% $255	+0% $313	+5% $371	+10% $429
Rate	-1.0pp $363	-0.5pp $339	base $313	+0.5pp $287	+1.0pp $261

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 35 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3526 Elsie Faye Heggins St Dallas, TX	3.0	2.0	1113	$1,795	$1.61	25d	1	0.20mi
3526 Elsie Faye Heggins St Dallas, TX	3.0	2.0	1113	$1,795	$1.61	8d	1	0.20mi
4722 Meadow St Dallas, TX	2.0–3.0	2.0	1107	$1,275	$1.15	12d	4	0.26mi
3627 Sidney St Dallas, TX	3.0	2.0	1090	$1,600	$1.47	0d	1	0.28mi
3408 Spring Ave Dallas, TX	3.0	2.0	780	$1,314	$1.68	0d	1	0.34mi
3639 Pine St Dallas, TX	3.0	2.0	1090	$1,490	$1.37	15d	1	0.41mi
3910 Polly St Dallas, TX	2.0	1.0	550	$1,100	$2.00	8d	1	0.49mi
2711 Cross St Dallas, TX	2.0	1.0	700	$1,249	$1.78	0d	1	0.50mi
3529 Herrling St Dallas, TX	2.0	1.0	632	$1,200	$1.90	11d	1	0.52mi
3907 Roberts Ave Dallas, TX	3.0	1.0	908	$1,395	$1.54	16d	1	0.52mi
2829 Oakdale St Dallas, TX	3.0	2.0	1028	$1,814	$1.76	0d	1	0.56mi
4024 Myrtle St Dallas, TX	3.0	2.0	1106	$1,595	$1.44	6d	1	0.64mi
5221 Grovewood St Dallas, TX	3.0	1.5	840	$1,400	$1.67	44d	1	0.68mi
2627 Elsie Faye Heggins St Dallas, TX	3.0	2.0	876	$1,280	$1.46	44d	1	0.71mi
2615 Elsie Faye Heggins St Dallas, TX	3.0	2.0	876	$1,280	$1.46	16d	1	0.73mi
2603 Elsie Faye Heggins St Dallas, TX	3.0	2.0	876	$1,385	$1.58	44d	1	0.74mi
2563 Elsie Faye Heggins St Dallas, TX	3.0	2.0	876	$1,240	$1.42	16d	1	0.75mi
2561 Elsie Faye Heggins St Dallas, TX	3.0	2.0	876	$1,390	$1.59	7d	1	0.76mi
2513 Southland St Dallas, TX	2.0	1.0	1010	$1,299	$1.29	4d	1	0.81mi
2513 Southland St Dallas, TX	2.0	1.0	1010	$1,399	$1.39	21d	1	0.81mi
3711 Guaranty St Dallas, TX	3.0	1.0	984	$1,800	$1.83	16d	1	0.88mi
4303 Jamaica St Dallas, TX	3.0	2.0	1027	$1,299	$1.26	0d	1	0.89mi
4205 Metropolitan Ave Dallas, TX	2.0	1.0	625	$1,150	$1.84	44d	1	0.91mi
2545 Metropolitan Ave Dallas, TX	3.0	1.0	936	$1,750	$1.87	0d	1	0.95mi
2642 Anderson St Dallas, TX	2.0	1.0	820	$1,150	$1.40	25d	1	1.00mi
4525 Metropolitan Ave Dallas, TX	3.0	2.0	1090	$1,460	$1.34	0d	1	1.16mi
3501 Latimer St Dallas, TX	2.0	1.0	1008	$1,095	$1.09	4d	1	1.16mi
1724 Pear St Unit 1 Dallas, TX	2.0	1.0	605	$875	$1.45	44d	1	1.20mi
1723 Eugene St Unit 2 Dallas, TX	1.0	1.0	756	$1,250	$1.65	44d	1	1.23mi
1630 Poplar St Dallas, TX	2.0	1.0	903	$1,400	$1.55	25d	1	1.32mi
1628 Poplar St Dallas, TX	2.0	1.0	903	$1,400	$1.55	44d	1	1.32mi
2003 Gorman St Dallas, TX	1.0	1.0	540	$895	$1.66	44d	1	1.33mi
4717 Owenwood Ave Dallas, TX	3.0	2.0	1090	$1,490	$1.37	15d	1	1.34mi
2216 Dyson St Dallas, TX	3.0	2.0	1056	$2,100	$1.99	25d	1	1.46mi
3422 Terrell St Dallas, TX	1.0	1.0	820	$800	$0.98	44d	1	1.49mi

Listing history 8 events

1. 2026-05-07
   status Pending 508-char remark

   Show marketing remark (508 chars)

   This charming 2-bedroom, 1-bath home, built in 1928, combines modern conveniences with comfortable living with siding exterior adds classic appeal, while the large backyard offers ample space for outdoor activities and relaxation. Conveniently located near major freeways, shopping, dining, and more, this owner-occupied home offers both comfort and accessibility. To help visualize this homes floor plan and to highlight its potential virtual furnishings may have been added to photos found in this listing.

2. 2026-04-21
   price $99,900 508-char remark

   Show marketing remark (508 chars)

   This charming 2-bedroom, 1-bath home, built in 1928, combines modern conveniences with comfortable living with siding exterior adds classic appeal, while the large backyard offers ample space for outdoor activities and relaxation. Conveniently located near major freeways, shopping, dining, and more, this owner-occupied home offers both comfort and accessibility. To help visualize this homes floor plan and to highlight its potential virtual furnishings may have been added to photos found in this listing.

3. 2026-03-25
   listed $109,900 Active 508-char remark

   Show marketing remark (508 chars)

   This charming 2-bedroom, 1-bath home, built in 1928, combines modern conveniences with comfortable living with siding exterior adds classic appeal, while the large backyard offers ample space for outdoor activities and relaxation. Conveniently located near major freeways, shopping, dining, and more, this owner-occupied home offers both comfort and accessibility. To help visualize this homes floor plan and to highlight its potential virtual furnishings may have been added to photos found in this listing.

4. 2021-01-29
   soldstatus
5. 2021-01-26
   soldstatus Sold 616-char remark

   Show marketing remark (616 chars)

   Great for first-time home buyer or Investors! This charming South Dallas open-concept home has been recently updated with loads of features like new roof, new windows, and all new fixtures. Flooring and bathroom remodeled! New Plumbing! Spacious living area with large windows bringing in tons of natural light. Enjoy delish cooking in the beautiful kitchen with all new stainless steel appliances, generous storage with NEW cabinets, granite countertops, tile backsplash, and a spacious pantry. Conveniently located - near schools, public transit, restaurants, parks, and shopping. Priced to sell and MOVE-IN READY!

6. 2020-12-30
   status Pending 616-char remark

   Show marketing remark (616 chars)

   Great for first-time home buyer or Investors! This charming South Dallas open-concept home has been recently updated with loads of features like new roof, new windows, and all new fixtures. Flooring and bathroom remodeled! New Plumbing! Spacious living area with large windows bringing in tons of natural light. Enjoy delish cooking in the beautiful kitchen with all new stainless steel appliances, generous storage with NEW cabinets, granite countertops, tile backsplash, and a spacious pantry. Conveniently located - near schools, public transit, restaurants, parks, and shopping. Priced to sell and MOVE-IN READY!

7. 2020-12-23
   historical Active Option Contract 616-char remark

   Show marketing remark (616 chars)

   Great for first-time home buyer or Investors! This charming South Dallas open-concept home has been recently updated with loads of features like new roof, new windows, and all new fixtures. Flooring and bathroom remodeled! New Plumbing! Spacious living area with large windows bringing in tons of natural light. Enjoy delish cooking in the beautiful kitchen with all new stainless steel appliances, generous storage with NEW cabinets, granite countertops, tile backsplash, and a spacious pantry. Conveniently located - near schools, public transit, restaurants, parks, and shopping. Priced to sell and MOVE-IN READY!

8. 2020-12-20
   listed $120,000 Active 616-char remark

   Show marketing remark (616 chars)

   Great for first-time home buyer or Investors! This charming South Dallas open-concept home has been recently updated with loads of features like new roof, new windows, and all new fixtures. Flooring and bathroom remodeled! New Plumbing! Spacious living area with large windows bringing in tons of natural light. Enjoy delish cooking in the beautiful kitchen with all new stainless steel appliances, generous storage with NEW cabinets, granite countertops, tile backsplash, and a spacious pantry. Conveniently located - near schools, public transit, restaurants, parks, and shopping. Priced to sell and MOVE-IN READY!

ⓘ 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: $3,417 · $285/mo
• Projected year-2 tax: $3,417 · $285/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 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥110°F today · 24 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,671
• − Mortgage interest: −$5,596
• − Property taxes: −$3,417
• − Insurance: −$500
• − Repairs & maintenance: −$1,414
• − Management: −$1,414
• − Depreciation: −$2,906
• Taxable income: $2,425
• Est. tax owed @ 24.0%: −$582
• After-tax cash flow: $3,175/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): 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

-16.8% since first listed

8 events — show timeline

• 2026-05-07 Pending — NTREIS
• 2026-04-21 Price Changed $99,900 NTREIS
• 2026-03-25 Listed $109,900 NTREIS
• 2021-01-29 Sold (Public Records) — Public Records
• 2021-01-26 Sold (MLS) — NTREIS
• 2020-12-30 Pending — NTREIS
• 2020-12-23 Contingent — NTREIS
• 2020-12-20 Listed $120,000 NTREIS

Property tax history

+10.8%/yr

Latest (2025): $3,417 · -0.4% YoY. Source: county tax records.