821 Cherry Hills Dr · Lancaster, TX 75134

$220,000

4 bd · 2.0 ba · 1,824 sqft · SingleFamily public records · 17 Days on market

Built 1974 7,187 sqft lot Est $283k · 22% 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).

• Cash flow +15.6/30.0
• ARV discount +15.0/15.0
• 1% rule +5.4/10.0
• DSCR +4.8/10.0
• Livability +3.1/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to 821 Cherry Hills Drive in Lancaster, Texas! This well-maintained single-story ranch-style home offers 3 bedrooms, 2 bathrooms, and timeless charm with thoughtful updates throughout. Built in the 1970s, the home features updated bathrooms, an enclosed garage that provides additional flexible living space, and a roof that is only six years old for added peace of mind. Situated on a spacious lot, there's plenty of room to enjoy outdoor entertaining, gardening, or simply relaxing in your private backyard. The home is within walking distance of Dallas College Cedar Valley Campus and the Lancaster Veteran's Memorial Park. The functional floor plan provides comfortable living space

Key facts

• Enclosed garage
• Private backyard
• Spacious lot

Tags

• UPDATED BATHROOMS
• ENCLOSED GARAGE
• PRIVATE BACKYARD
• SPACIOUS LOT

Property features AI

Finance

• Other: Lot is less than 0.5 acre (approx. 0.165 acre); Subdivision: Brookhaven Estates; County: Dallas
• Financial info: Listing accepts Cash, Conventional, FHA, FHA-203K, Texas Vet, and VA loans
• HOA & community: No association

Exterior

• Parking: No garage or covered parking
• Security: Owned security system; Audio and video surveillance present
• Utilities: City water; City sewer; Cable available
• Home design: Single-family residence; One story; Residential property
• Construction: Built in 1974; Brick and frame construction; Slab foundation; Composition roof
• Exterior features: Chain link fencing; Alley access; Driveway

Interior

• Kitchen: Electric range
• Bedrooms: Primary bedroom on level 1 with ensuite bath (approx. 14 x 14)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating
• Interior features: Cable TV available; High-speed internet available; Attic fan; Ceiling fans

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $220k.

Deal economics

• At list price, monthly cash flow is $92 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $220k).
• Recommended offer: $217k (1.5% below list) — sets the bar for market timing.
• Cap rate 6.8% vs local median 4.8% in Lancaster — 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 62/100 on livability (#926 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, crime F, amenities F.
• Lancaster ISD (suburban): math 19% / reading 29% proficiency, ranked #714 of 826 in TX (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 78% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Pleasant Run El (math 22% / reading 22%, grade F, #3,333 of 4,322 statewide, top 80%, 622 students, 99% FRL) — zoned schools average 99% FRL vs 78% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 102 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 42% 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 39% of the median local income ($70k/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 $2k of loan paydown is wiped out by about $7k 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 17 days — a 2% lower offer ($217k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $56k; list at $220k implies a 293% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $216,700 (1.5% below list)

Questions for the listing agent

1. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.04% ✓
• Cap rate: 6.79%
• Cash-on-cash: 1.78%
• DSCR: 1.08
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $282,720
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
813 Cherry Hills Dr	0.02mi	4/2.0	1,946 (+7%)	3mo	$284,999	$146	85
2315 Rogers Ave	0.47mi	4/2.0	1,823 (-0%)	1mo	$305,000	$167	77
2923 E Pepperidge Dr	0.27mi	3/2.0 (-1)	1,770 (-3%)	2mo	$269,999	$153	75
908 W Wintergreen Rd	0.53mi	3/2.0 (-1)	1,761 (-4%)	4mo	$275,750	$157	61
2503 Gerry Way St	0.67mi	4/2.0	1,747 (-4%)	2mo	$260,000	$149	60
919 Cresthaven Dr	0.39mi	4/2.0	1,607 (-12%)	11mo	$265,000	$165	53
2321 Arcady Ln	0.44mi	4/2.0	1,612 (-12%)	12mo	$249,900	$155	51
748 Balkan Dr	0.48mi	3/2.5 (-1)	1,959 (+7%)	12mo	$415,000	$212	48
2541 Everton Dr	0.74mi	4/2.5	1,966 (+8%)	2mo	$399,000	$203	48
2803 Amber Waves Ln	0.71mi	3/2.0 (-1)	1,974 (+8%)	10mo	$290,000	$147	40
705 Yale Dr	0.55mi	3/2.0 (-1)	1,592 (-13%)	12mo	$209,920	$132	38
533 Donlee Rd	0.73mi	3/2.0 (-1)	1,610 (-12%)	12mo	$235,000	$146	31

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 · 0.33% rent growth · sell at horizon

5-year hold

• IRR: -16.8%
• Equity multiple: 0.42×
• Total profit: $-35,640
• Equity at exit: $32,803

10-year hold

• IRR: -15.3%
• Equity multiple: 0.25×
• Total profit: $-46,156
• Equity at exit: $19,022

Cash invested: $61,600 (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 75134

• Home prices YoY: -17.1%
• Rents YoY: 0.3%
• Active inventory: 102
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $2,285 high
• Mortgage (P&I): −$1,154
• Tax from tax record: −$468 /mo · $5,615/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$480
• Net cashflow: $92

Break-even live

Break-even rent $2,169

Max offer price $220,000

Occupancy floor 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: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
834 Apple Valley Dr Lancaster, TX	3.0	2.0	1425	$2,275	$1.60	43d	1	0.03mi
2654 Hartford Ln Lancaster, TX	4.0	2.0	1657	$2,015	$1.22	43d	1	0.15mi
2746 Town North Dr Lancaster, TX	4.0	2.0	1377	$2,000	$1.45	7d	1	0.22mi
719 Westover Dr Lancaster, TX	3.0	2.0	1248	$1,900	$1.52	24d	1	0.22mi
2617 Arcady Cir Lancaster, TX	3.0	2.0	1361	$1,950	$1.43	20d	1	0.24mi
2617 Arcady Cir Lancaster, TX	3.0	2.0	1361	$1,950	$1.43	43d	1	0.24mi
2922 E Pepperidge Dr Lancaster, TX	4.0	2.0	1444	$2,000	$1.39	43d	1	0.25mi
907 Cresthaven Dr Lancaster, TX	3.0	2.0	1366	$1,850	$1.35	24d	1	0.38mi
1252 Payne Dr Lancaster, TX	4.0	2.0	1577	$2,239	$1.42	2d	1	0.48mi
633 Rutgers Dr Lancaster, TX	4.0	2.0	2065	$1,995	$0.97	10d	1	0.52mi
633 Rutgers Dr Lancaster, TX	4.0	2.0	2065	$1,995	$0.97	4d	1	0.52mi
1314 Roan Dr Lancaster, TX	4.0	2.5	1913	$2,375	$1.24	43d	1	0.56mi
721 Lindenwood Dr Lancaster, TX	3.0	2.0	1606	$1,895	$1.18	15d	1	0.72mi
721 Lindenwood Dr Lancaster, TX	3.0	2.0	1606	$1,895	$1.18	7d	1	0.72mi
1533 Prescott Dr Lancaster, TX	3.0	2.0	1500	$1,975	$1.32	4d	1	0.79mi
1021 Badger Run Lancaster, TX	3.0	2.0	1811	$2,235	$1.23	43d	1	0.83mi
1532 Linda Ln Lancaster, TX	3.0	2.0	1380	$2,000	$1.45	24d	1	0.85mi
1326 Johns Ave Lancaster, TX	4.0	2.0	1236	$2,100	$1.70	43d	1	0.92mi
2904 Crimson Clover Dr Lancaster, TX	4.0	2.5	2512	$2,359	$0.94	16d	1	0.94mi
2912 Crimson Clover Dr Lancaster, TX	3.0	2.0	1735	$2,075	$1.20	7d	1	0.95mi
509 Arbor Ln Lancaster, TX	3.0	2.0	1494	$1,875	$1.26	43d	1	0.97mi
1244 Flower Ridge Dr Lancaster, TX	3.0	2.0	1818	$2,099	$1.15	43d	1	0.99mi
1811 Kings Cross Dr Lancaster, TX	4.0	2.0	1812	$2,200	$1.21	24d	1	1.06mi
1209 Candler Dr Lancaster, TX	4.0	2.0	2049	$2,310	$1.13	43d	1	1.06mi
3124 Crimson Clover Dr Lancaster, TX	3.0	2.0	1783	$2,100	$1.18	43d	1	1.13mi
1563 Nottingham Dr Lancaster, TX	4.0	2.0	1894	$2,299	$1.21	24d	1	1.20mi
1447 Gentle Rain Dr Lancaster, TX	3.0	2.0	1735	$2,200	$1.27	7d	1	1.22mi
3400 New York Ave Lancaster, TX	4.0	2.0	2008	$2,162	$1.08	24d	1	1.27mi
3421 New York Ave Lancaster, TX	4.0	2.0	2008	$2,162	$1.08	43d	1	1.34mi
3416 Tennessee Ave Lancaster, TX	4.0	2.0	2008	$2,162	$1.08	43d	1	1.34mi
120 E Park Place Dr Lancaster, TX	4.0	1.0	1536	$1,900	$1.24	24d	1	1.35mi
3425 New York Ave Lancaster, TX	4.0	2.0	2036	$2,162	$1.06	43d	1	1.35mi
1555 Willowbrook St Lancaster, TX	3.0	2.0	1544	$1,759	$1.14	22d	1	1.35mi
1109 Harvest Hill Ln Lancaster, TX	3.0	2.5	2006	$2,350	$1.17	7d	1	1.35mi
1439 Marvin Gdns Lancaster, TX	4.0	2.0	2008	$2,395	$1.19	43d	1	1.36mi
1748 Cansler Ln Lancaster, TX	4.0	2.0	1806	$2,195	$1.22	43d	1	1.39mi
1217 Meadow Creek Dr Lancaster, TX	3.0	2.0	2088	$1,971	$0.94	12d	1	1.41mi
1217 Meadow Creek Dr Lancaster, TX	3.0	2.0	2088	$1,905	$0.91	7d	1	1.41mi
1750 Oneal St Lancaster, TX	3.0	2.0	1460	$2,100	$1.44	43d	1	1.41mi
2206 Midbury Dr Lancaster, TX	3.0	2.5	2140	$2,240	$1.05	19d	1	1.45mi

Listing history 12 events

1. 2026-06-18
   days on market $220,000 Active 17 DOM
2. 2026-06-17
   days on market $220,000 Active 16 DOM
3. 2026-06-16
   days on market $220,000 Active 15 DOM
4. 2026-06-15
   days on market $220,000 Active 14 DOM
5. 2026-06-13
   days on market $220,000 Active 12 DOM
6. 2026-06-09
   days on market $220,000 Active 8 DOM
7. 2026-06-08
   days on market $220,000 Active 7 DOM
8. 2026-06-07
   days on market $220,000 Active 6 DOM
9. 2026-06-04
   days on market $220,000 Active 3 DOM
10. 2026-06-03
    days on market $220,000 Active 2 DOM
11. 2026-06-02
    remarks 699-char remark
12. 2026-06-02
    listed $220,000 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: $5,615 · $468/mo
• Projected year-2 tax: $5,615 · $468/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 · 25 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: $27,416
• − Mortgage interest: −$12,323
• − Property taxes: −$5,615
• − Insurance: −$1,100
• − Repairs & maintenance: −$2,193
• − Management: −$2,193
• − Depreciation: −$6,400
• Taxable loss: −$2,409
• Est. tax savings @ 24.0%: +$578
• After-tax cash flow: $1,677/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: Lancaster ISD
• NCES district ID: 4826670
• Math proficiency: 19% ▼ -29.00%
• Reading proficiency: 29% ▼ -11.00%
• Median HH income: $52,275
• Composite: 21.41/100
• National rank: #8349
• State rank: #714 of 826 in TX

Livability — Lancaster

• Score: 62/100
• State rank: #926
• US rank: #16461

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lancaster, TX
• County: Dallas County · 2,612,404 people
• City population: 44,142
• Metro: Dallas-Fort Worth-Arlington, TX
• Population (ZIP): 19,045
• Household income: $69,778
• Rent vs Own: 15.7% rent · 84.3% own
• Severe rent burden: 399.0

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 Black (68%)
• Race & ethnicity: Black 68% Hispanic / Latino 22% Two or more races 9% White 8%
• Hispanic origin (detail): Mexican 20%
• Common ancestry: Slovak 1%
• Foreign-born: 9% · Canada
• Languages at home: 79% English-only · Spanish 20%

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: ▼ -66.51%
• Current HPI: 323.4396
• Rent YoY: ▲ 0.33%
• 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

+293.3% since first listed

2 events — show timeline

• 2026-05-28 Listed $220,000 NTREIS
• 1993-02-04 Sold (Public Records) $55,940 Public Records

Property tax history

+7.5%/yr

Latest (2025): $5,615 · -9.5% YoY. Source: county tax records.