2621 Choice St · Dallas, TX 75215

$199,000

3 bd · 2.5 ba · 1,200 sqft · SingleFamily public records · 70 Days on market

Built 2006 4,530 sqft lot $166/sqft · 20% below area Est $249k · 20% under

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Why this score? — see what drove the C 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).

• ARV discount +15.0/15.0
• Cash flow +13.2/30.0
• Appreciation +5.4/10.0
• Rent growth +4.3/5.0
• 1% rule +4.1/10.0
• DSCR +4.0/10.0
• Livability +4.0/5.0
• Schools +2.8/10.0
• Condition / age +2.5/5.0

Listing remarks MLS

Investors Only. Charming 3 bed 2 bath home with 1,200 sq feet of comfortable living space offering a perfect blend of modern with cozy charm. Upon entry you are greeted by generous laminate floors through out and a spacious living room. No carpet! The kitchen is the perfect size making meal prep a breeze! The master bedroom provides cozy comfort. Two additional bedrooms provide flexibility for a home office or kids play room! Mere minutes away from Downtown Dallas! Don't miss this great opportunity! Property is tenant occupied until the end of January 2027.

Key facts

• 4,530 sq ft lot
• Built 2006
• Listed 70 days

🏷️ Possibly a rental listed for sale. The $199,000 price doesn't fit this home's estimated sale value (~$249,073) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $199k.

Deal economics

• At list price, monthly cash flow is $-4 ($-43/yr) — negative.
• To cash-flow at today's rent, offer at most $198k (0.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $181k (9.0% below list).
• Recommended offer: $181k (9.0% below list) — sets the bar for 1% rule.
• Cap rate 6.3% 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; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $1,811/mo this rent would consume 48% 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 + $2k 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 $56k cash investment doubles in ~8 years — after that, you're playing with house money.
• By year 10, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 70 days — a 6% lower offer ($187k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 9y ago; this cycle's ask has dropped $11k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $181,116 (9.0% 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. It's been on market 70 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
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. 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: 0.91% ✗
• Cap rate: 6.27%
• Cash-on-cash: -0.08%
• DSCR: 1.00
• GRM: 9.2

CMA / ARV

• ARV (median comp): $249,073
• List price: $199,000
• Delta: -20.10%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2807 Silkwood St	0.35mi	3/3.0	1,200 (0%)	1mo	$248,000	$207	81
2714 Silkwood St	0.31mi	3/2.0	1,311 (+9%)	4mo	$230,000	$175	64
6110 Carlton Garret St	0.29mi	3/2.5	1,350 (+12%)	5mo	$285,000	$211	61
2705 Silkwood St	0.33mi	3/2.0	1,279 (+7%)	14mo	$220,000	$172	60
2927 Valentine St	0.46mi	3/2.0	1,290 (+8%)	11mo	$285,000	$221	55
2526 Bethurum Ave	0.62mi	3/2.0	1,292 (+8%)	4mo	$250,000	$193	53
2335 Bethurum Ave	0.57mi	3/2.0	1,269 (+6%)	19mo	$205,000	$162	46
5215 Colonial Ave	0.68mi	3/1.0	1,131 (-6%)	12mo	$155,000	$137	43
3034 Dorris St	0.54mi	4/2.0 (+1)	1,360 (+13%)	16mo	$109,000	$80	32

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: 3.3%
• Equity multiple: 1.17×
• Total profit: $9,470
• Equity at exit: $65,761

10-year hold

• IRR: 10.7%
• Equity multiple: 2.41×
• Total profit: $78,689
• Equity at exit: $85,733

Cash invested: $55,720 (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: 9.2×

Monthly cashflow live

• Estimated rent: $1,811 high
• Mortgage (P&I): −$1,044
• Tax from tax record: −$308 /mo · $3,695/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$380
• Net cashflow: $-4

Break-even live

Break-even rent $1,816

Max offer price $198,365

Occupancy floor 95%

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2727 Choice St Dallas, TX	3.0	2.0	1175	$1,799	$1.53	24d	1	0.11mi
2807 Valentine St Dallas, TX	3.0	2.0	1400	$1,500	$1.07	15d	1	0.44mi
2216 Dyson St Dallas, TX	3.0	2.0	1056	$2,100	$1.99	24d	1	0.47mi
2927 Dorris St Dallas, TX	3.0	2.0	1298	$1,914	$1.47	43d	1	0.54mi
2203 Anderson St Dallas, TX	3.0	2.5	1219	$2,200	$1.80	43d	1	0.64mi
2207 Anderson St Dallas, TX	3.0	2.5	1419	$2,300	$1.62	7d	1	0.65mi
2642 Anderson St Dallas, TX	2.0	1.0	820	$1,150	$1.40	24d	1	0.82mi
5000 Linder Ave Dallas, TX	3.0	2.0	1327	$1,950	$1.47	43d	1	1.13mi
2838 Frost Ave Dallas, TX	2.0	1.0	1200	$1,400	$1.17	24d	1	1.21mi
2561 Elsie Faye Heggins St Dallas, TX	3.0	2.0	876	$1,390	$1.59	6d	1	1.24mi
2563 Elsie Faye Heggins St Dallas, TX	3.0	2.0	876	$1,240	$1.42	15d	1	1.24mi
2603 Elsie Faye Heggins St Dallas, TX	3.0	2.0	876	$1,385	$1.58	43d	1	1.25mi
2513 Southland St Dallas, TX	2.0	1.0	1010	$1,399	$1.39	20d	1	1.25mi
2513 Southland St Dallas, TX	2.0	1.0	1010	$1,299	$1.29	3d	1	1.25mi
2615 Elsie Faye Heggins St Dallas, TX	3.0	2.0	876	$1,280	$1.46	15d	1	1.25mi
2829 Oakdale St Dallas, TX	3.0	2.0	1028	$1,840	$1.79	7d	1	1.26mi
2627 Elsie Faye Heggins St Dallas, TX	3.0	2.0	876	$1,280	$1.46	43d	1	1.26mi
2840 Oakdale St Dallas, TX	3.0	2.0	1379	$1,900	$1.38	43d	1	1.27mi
4744 Stokes St Dallas, TX	3.0	2.0	1440	$1,700	$1.18	10d	1	1.36mi
1628 Poplar St Dallas, TX	2.0	1.0	903	$1,400	$1.55	43d	1	1.41mi
1630 Poplar St Dallas, TX	2.0	1.0	903	$1,400	$1.55	24d	1	1.42mi
4804 Fellows Ln Dallas, TX	4.0	2.0	1124	$1,850	$1.65	7d	1	1.43mi

Listing history 18 events

1. 2026-06-02
   statusdays on market $199,000 Pending 70 DOM
2. 2026-06-01
   days on market $199,000 Active Option Contract 69 DOM
3. 2026-05-31
   days on market $199,000 Active Option Contract 68 DOM
4. 2026-04-22
   price $199,000 571-char remark

   Show marketing remark (571 chars)

   Investors Only. Charming 3 bed 2 bath home with 1,200 sq feet of comfortable living space offering a perfect blend of modern with cozy charm. Upon entry you are greeted by generous laminate floors through out and a spacious living room. No carpet! The kitchen is the perfect size making meal prep a breeze! The master bedroom provides cozy comfort. Two additional bedrooms provide flexibility for a home office or kids play room! Mere minutes away from Downtown Dallas! Don't miss this great opportunity! Property is tenant occupied until the end of January 2027.

5. 2026-03-24
   listed $210,000 Active 571-char remark

   Show marketing remark (571 chars)

   Investors Only. Charming 3 bed 2 bath home with 1,200 sq feet of comfortable living space offering a perfect blend of modern with cozy charm. Upon entry you are greeted by generous laminate floors through out and a spacious living room. No carpet! The kitchen is the perfect size making meal prep a breeze! The master bedroom provides cozy comfort. Two additional bedrooms provide flexibility for a home office or kids play room! Mere minutes away from Downtown Dallas! Don't miss this great opportunity! Property is tenant occupied until the end of January 2027.

6. 2025-01-25
   historical $1,500
7. 2024-11-28
   listed $1,500
8. 2024-11-28
   historical $1,550
9. 2024-11-22
   historical
10. 2024-11-07
    listed $1,550
11. 2024-07-25
    price $225,000
12. 2024-07-01
    price $235,000
13. 2024-06-22
    listed $245,000 Active
14. 2017-09-05
    soldstatus
15. 2017-08-28
    soldstatus Sold
16. 2017-07-29
    status Pending
17. 2017-07-25
    historical Active Option Contract
18. 2017-07-19
    listed $90,000 Active

ⓘ 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: $3,695 · $308/mo
• Projected year-2 tax: $3,695 · $308/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 · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥110°F today · 26 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: $21,734
• − Mortgage interest: −$11,147
• − Property taxes: −$3,695
• − Insurance: −$995
• − Repairs & maintenance: −$1,739
• − Management: −$1,739
• − Depreciation: −$5,789
• Taxable loss: −$3,370
• Est. tax savings @ 24.0%: +$809
• After-tax cash flow: $766/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

+121.1% since first listed

15 events — show timeline

• 2026-04-22 Price Changed $199,000 NTREIS
• 2026-03-24 Listed $210,000 NTREIS
• 2025-01-25 Rental Removed $1,500 NTREIS
• 2024-11-28 Listed for Rent $1,500 NTREIS
• 2024-11-28 Rental Removed $1,550 APPFOLIO
• 2024-11-22 Listing Removed — NTREIS
• 2024-11-07 Listed for Rent $1,550 APPFOLIO
• 2024-07-25 Price Changed $225,000 NTREIS
• 2024-07-01 Price Changed $235,000 NTREIS
• 2024-06-22 Listed $245,000 NTREIS
• 2017-09-05 Sold (Public Records) — Public Records
• 2017-08-28 Sold (MLS) — NTREIS
• 2017-07-29 Pending — NTREIS
• 2017-07-25 Contingent — NTREIS
• 2017-07-19 Listed $90,000 NTREIS

Property tax history

+1.8%/yr

Latest (2025): $3,695 · +4.2% YoY. Source: county tax records.