2615 North Pkwy · Mesquite, TX 75149

$154,900

3 bd · 2.0 ba · 1,301 sqft · SingleFamily public records · 86 Days on market

Built 1964 7,492 sqft lot Est $232k · 33% under

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Why this score? — see what drove the B- 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 +23.8/30.0
• ARV discount +15.0/15.0
• 1% rule +7.8/10.0
• DSCR +7.7/10.0
• Livability +3.5/5.0
• Schools +2.9/10.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Home is being sold as-is. Come bring your imagination and make this home your own or turn it into an investment opportunity. Please note the property needs foundation, roof and plumbing work and will not qualify for traditional financing. No repairs will be made or negotiated—priced to sell! Enjoy park views right from your front door at 2615 North Park Way! Nestled in a quiet neighborhood with nearby walking trails, this inviting 3-bedroom, 2-bathroom home offers 1,049 sq. ft. of comfortable living space. The converted garage provides additional flexible living space—perfect for a family room, home office, or play area. Outside, you’ll love the fenced backyard, ideal for

Key facts

• Park views
• Converted garage
• Quiet neighborhood

Tags

• PARK VIEWS
• QUIET NEIGHBORHOOD
• WALKING TRAILS
• CONVERTED GARAGE
• FENCED BACKYARD

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $299 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $155k).
• Recommended offer: $146k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.6% vs local median 4.4% in Mesquite — 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 70/100 on livability (#358 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A-; Watch: crime F, commute F.
• Mesquite ISD (suburban): math 35% / reading 32% proficiency, ranked #536 of 826 in TX (top 65%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Rugel El (math 32% / reading 27%, grade F, #2,525 of 4,322 statewide, top 62%, 331 students, 80% FRL) — zoned schools average 80% FRL vs 63% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 345 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 34% of the median local income ($71k/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 $5k 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 86 days — a 6% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 20y ago; this cycle's ask is 7% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: property tax is 3.0% of price.
• 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 $145,606 (6.0% below list)

Questions for the listing agent

1. It's been on market 86 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1964 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 1.28% ✓
• Cap rate: 8.61%
• Cash-on-cash: 8.27%
• DSCR: 1.37
• GRM: 6.5

CMA / ARV

• ARV (on-the-fly): $231,578
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2615 North Pkwy	0.00mi	3/2.0	1,301 (0%)	2mo	$154,900	$119	98
2631 Brenda Dr	0.18mi	3/1.5	1,248 (-4%)	4mo	$197,000	$158	80
2735 U.S. 80 Unit 1-201	0.31mi	3/2.0	1,320 (+2%)	6mo	$382,500	$290	78
1837 South Pkwy	0.13mi	3/1.5	1,407 (+8%)	3mo	$249,000	$177	76
2530 Wanda Dr	0.32mi	3/2.0	1,246 (-4%)	4mo	$230,000	$185	75
2004 Eastbrook Cir	0.63mi	3/2.0	1,263 (-3%)	1mo	$237,500	$188	65
2332 Rose Marie Dr	0.40mi	4/2.0 (+1)	1,248 (-4%)	6mo	$230,000	$184	64
2406 Whit Dr	0.51mi	3/1.5	1,236 (-5%)	2mo	$219,000	$177	64
2701 Northview Pl	0.49mi	4/2.5 (+1)	1,290 (-1%)	8mo	$229,900	$178	62
2527 Larchmont Dr	0.62mi	3/1.5	1,263 (-3%)	4mo	$212,900	$169	60
2725 Northview Pl	0.46mi	4/2.0 (+1)	1,228 (-6%)	5mo	$219,900	$179	60
2231 Loyce Dr	0.45mi	4/1.0 (+1)	1,203 (-8%)	1mo	$199,999	$166	57

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 · 0.22% rent growth · sell at horizon

5-year hold

• IRR: -7.3%
• Equity multiple: 0.74×
• Total profit: $-11,299
• Equity at exit: $23,096

10-year hold

• IRR: -2.2%
• Equity multiple: 0.87×
• Total profit: $-5,638
• Equity at exit: $13,393

Cash invested: $43,372 (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 75149

• Home prices YoY: -27.4%
• Rents YoY: 0.2%
• Active inventory: 345
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,982 high
• Mortgage (P&I): −$812
• Tax from tax record: −$390 /mo · $4,675/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$416
• Net cashflow: $299

Break-even live

Break-even rent $1,603

Max offer price $154,900

Occupancy floor 80%

Sensitivity live

Price	-10% $387	-5% $343	+0% $299	+5% $255	+10% $211
Rent	-10% $142	-5% $221	+0% $299	+5% $377	+10% $456
Rate	-1.0pp $377	-0.5pp $338	base $299	+0.5pp $259	+1.0pp $218

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: $38,725
• Closing costs: $4,647
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2707 Judy Dr Mesquite, TX	3.0	1.0	1505	$2,100	$1.40	45d	1	0.11mi
2632 Sybil Dr Mesquite, TX	3.0	1.5	988	$1,645	$1.66	45d	1	0.25mi
1809 Baker Dr Mesquite, TX	1.0–2.0	1.0–2.0	874	$1,431	$1.64	45d	3	0.38mi
2721 Northview Pl Mesquite, TX	4.0	2.5	1512	$2,135	$1.41	45d	1	0.48mi
2721 Northview Pl Mesquite, TX	4.0	2.0	1512	$2,245	$1.48	21d	1	0.48mi
2101 US Highway 80 E Mesquite, TX	1.0–2.0	1.0–2.0	831	$1,437	$1.73	0d	27	0.68mi
2021 Aloha Dr Mesquite, TX	3.0	2.0	1556	$2,200	$1.41	45d	1	0.69mi
2808 Belhaven Dr Mesquite, TX	3.0	1.5	1199	$1,695	$1.41	3d	1	0.81mi
2641 Bluebird Ln Mesquite, TX	3.0	1.5	1372	$1,650	$1.20	9d	1	1.00mi
19200 Lyndon B Johnson Fwy Mesquite, TX	2.0	1.0–2.0	780	$1,520	$1.95	0d	13	1.02mi
2837 Appaloosa Ln Mesquite, TX	3.0	2.5	1837	$2,500	$1.36	45d	1	1.06mi
409 Starling Dr Mesquite, TX	4.0	1.5	1200	$2,099	$1.75	25d	1	1.10mi
2829 Bellflower Dr Mesquite, TX	3.0	2.5	1776	$2,350	$1.32	0d	1	1.11mi
2920 Bluets Dr Mesquite, TX	3.0	3.0	1477	$2,200	$1.49	0d	1	1.13mi
2909 Bluets Dr Mesquite, TX	3.0	2.5	1728	$2,000	$1.16	16d	1	1.15mi
2820 Percheron Dr Mesquite, TX	3.0	2.5	1769	$2,400	$1.36	0d	1	1.16mi
2820 Percheron Dr Mesquite, TX	3.0	2.5	1769	$2,400	$1.36	25d	1	1.16mi
2317 Spiceberry Ln Mesquite, TX	3.0	2.0	1300	$1,695	$1.30	9d	1	1.16mi
1149 Redman Ave Mesquite, TX	3.0	2.0	1225	$1,750	$1.43	45d	1	1.16mi
2908 Mare Dr Mesquite, TX	3.0	2.5	1722	$2,100	$1.22	45d	1	1.17mi
1213 Redman Ave Mesquite, TX	3.0	2.0	1225	$1,650	$1.35	14d	1	1.19mi
2225 Janice St Mesquite, TX	3.0	1.5	1392	$1,695	$1.22	25d	1	1.21mi
2605 Franklin Dr Mesquite, TX	1.0–2.0	1.0–2.0	847	$1,650	$1.95	6d	1	1.21mi
2722 Spiceberry Ln Mesquite, TX	3.0	2.0	1270	$2,085	$1.64	4d	1	1.23mi
1232 Redman Ave Mesquite, TX	3.0	2.0	1250	$1,750	$1.40	45d	1	1.24mi
2948 Percheron Dr Unit NA Mesquite, TX	3.0	2.5	1691	$1,995	$1.18	25d	1	1.24mi
2900 Aiden Ln Mesquite, TX	3.0	2.5	1627	$2,150	$1.32	0d	1	1.25mi
3512 Bahamas Dr Mesquite, TX	3.0	2.0	1455	$1,795	$1.23	13d	1	1.27mi
3512 Bahamas Dr Mesquite, TX	3.0	2.0	1455	$1,795	$1.23	25d	1	1.27mi
3512 Bahamas Dr Mesquite, TX	3.0	2.0	1455	$1,750	$1.20	0d	1	1.27mi
2941 Baneberry Ln Mesquite, TX	3.0	2.5	1810	$2,500	$1.38	45d	1	1.29mi
3017 Percheron Dr Mesquite, TX	3.0	3.0	1473	$1,995	$1.35	23d	1	1.30mi
3021 Percheron Dr Mesquite, TX	3.0	3.0	1754	$2,299	$1.31	19d	1	1.30mi
3021 Percheron Dr Unit NA Mesquite, TX	3.0	3.0	1754	$2,299	$1.31	9d	1	1.30mi
2944 Baneberry Ln Mesquite, TX	3.0	2.5	1772	$2,400	$1.35	45d	1	1.30mi
2969 Baneberry Ln Mesquite, TX	3.0	2.5	1716	$2,400	$1.40	9d	1	1.32mi
3004 Baneberry Ln Mesquite, TX	3.0	3.0	1786	$2,445	$1.37	45d	1	1.33mi
3036 Shire Dr Mesquite, TX	3.0	2.5	1691	$2,350	$1.39	14d	1	1.34mi
4200 U.S. 80 Mesquite, TX	1.0–2.0	1.0–2.0	787	$1,545	$1.96	0d	132	1.38mi
3206 Heather Glen Dr Mesquite, TX	4.0	2.0	1708	$4,800	$2.81	0d	1	1.39mi

Listing history 27 events

1. 2026-04-06
   status Pending
2. 2026-03-25
   historical Active Option Contract
3. 2026-02-18
   price $154,900
4. 2026-02-17
   status Active
5. 2025-12-08
   status Active
6. 2025-12-02
   historical Active Option Contract
7. 2025-11-25
   status Active
8. 2025-11-18
   historical Active Option Contract
9. 2025-11-07
   listed $145,000 Active
10. 2015-11-25
    soldstatus Sold
11. 2015-11-24
    soldstatus
12. 2015-11-11
    status Pending
13. 2015-10-15
    price $107,500
14. 2015-08-28
    listed $109,900 Active
15. 2014-06-20
    historical
16. 2014-05-05
    listed $94,888 Active
17. 2013-07-18
    historical
18. 2013-05-28
    status Pending
19. 2013-02-23
    price $84,500
20. 2013-02-16
    status Active
21. 2013-02-15
    historical
22. 2013-02-15
    listed $88,900 Active
23. 2007-02-06
    soldstatus
24. 2006-12-21
    historical
25. 2006-09-15
    listed $64,800
26. 2004-06-03
    soldstatus
27. 2003-08-21
    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: $4,675 · $390/mo
• Projected year-2 tax: $4,675 · $390/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 · 24 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,779
• − Mortgage interest: −$8,677
• − Property taxes: −$4,675
• − Insurance: −$774
• − Repairs & maintenance: −$1,902
• − Management: −$1,902
• − Depreciation: −$4,506
• Taxable income: $1,342
• Est. tax owed @ 24.0%: −$322
• After-tax cash flow: $3,266/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: Mesquite ISD
• NCES district ID: 4830390
• Math proficiency: 35% ▼ -11.00%
• Reading proficiency: 32% ▼ -7.00%
• Median HH income: $49,372
• Composite: 29.06/100
• National rank: #6606
• State rank: #536 of 826 in TX

Livability — Mesquite

• Score: 70/100
• State rank: #358
• US rank: #7743

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mesquite, TX
• County: Dallas County · 2,612,404 people
• City population: 150,788
• Metro: Dallas-Fort Worth-Arlington, TX
• Population (ZIP): 58,262
• Household income: $70,774
• Rent vs Own: 33.2% rent · 66.8% own
• Severe rent burden: 2266.0

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 0.65)
• Race & ethnicity: Hispanic / Latino 49% White 25% Two or more races 21% Black 20% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 42% Cuban 1%
• Common ancestry: Italian 1% Iranian 1% Serbian 1%
• Foreign-born: 22% · Canada, Vietnam
• Languages at home: 58% English-only · Spanish 39% Other Asian/Pacific 1% Vietnamese 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: ▼ -130.12%
• Current HPI: 345.6606
• Rent YoY: ▲ 0.22%
• 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

+139.0% since first listed

27 events — show timeline

• 2026-04-06 Pending — NTREIS
• 2026-03-25 Contingent — NTREIS
• 2026-02-18 Price Changed $154,900 NTREIS
• 2026-02-17 Relisted — NTREIS
• 2025-12-08 Relisted — NTREIS
• 2025-12-02 Contingent — NTREIS
• 2025-11-25 Relisted — NTREIS
• 2025-11-18 Contingent — NTREIS
• 2025-11-07 Listed $145,000 NTREIS
• 2015-11-25 Sold (MLS) — NTREIS
• 2015-11-24 Sold (Public Records) — Public Records
• 2015-11-11 Pending — NTREIS
• 2015-10-15 Price Changed $107,500 NTREIS
• 2015-08-28 Listed $109,900 NTREIS
• 2014-06-20 Listing Removed — NTREIS
• 2014-05-05 Listed $94,888 NTREIS
• 2013-07-18 Listing Removed — NTREIS
• 2013-05-28 Pending — NTREIS
• 2013-02-23 Price Changed $84,500 NTREIS
• 2013-02-16 Relisted — NTREIS
• 2013-02-15 Listing Removed — NTREIS
• 2013-02-15 Listed $88,900 NTREIS
• 2007-02-06 Sold (MLS) — NTREIS
• 2006-12-21 Listing Removed — NTREIS
• 2006-09-15 Listed $64,800 NTREIS
• 2004-06-03 Sold (Public Records) — Public Records
• 2003-08-21 Sold (Public Records) — Public Records

Property tax history

+8.1%/yr

Latest (2025): $4,675 · +1.1% YoY. Source: county tax records.