1217 Greencove Dr · Garland, TX 75040

$185,000

2 bd · 1.5 ba · 1,431 sqft · SingleFamily public records · 46 Days on market

Built 1968 7,623 sqft lot $129/sqft · 22% below area Est $233k · 21% under

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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).

• ARV discount +15.0/15.0
• Cash flow +10.9/30.0
• 1% rule +5.4/10.0
• Livability +3.7/5.0
• DSCR +3.2/10.0
• Schools +2.9/10.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

INVESTOR SPECIAL! This fixer upper is a great opportunity for both investors & first-time home buyers. This charming single story home is located in a quiet, established Garland neighborhood with a strong rental demand & offers 3 bedrooms, 1.5 bathrooms & multiple living & dining areas on a generously sized lot. Enjoy meals in the formal dining room or sunny eat-in kitchen area, each designed for everyday living. The functional kitchen features granite counters, ss appliances, ample counter space & plenty of cabinetry with separate pantry. The main living room is equipped with a sliding glass door with outdoor access & views to the backyard. The garage co

Key facts

• Ample counter space
• Formal dining room
• Sunny eat-in kitchen

Tags

• MULTIPLE LIVING AREAS
• FORMAL DINING ROOM
• SUNNY EAT-IN KITCHEN
• GRANITE COUNTERS
• SS APPLIANCES
• AMPLE COUNTER SPACE

Property features AI

Finance

• Other: Possession negotiable; Restrictions: deed and other
• Financial info: Listing terms include Cash, FHA-203K and Other; No second mortgage indicated
• HOA & community: No association

Exterior

• Parking: Driveway (no garage, carport, or covered spaces listed)
• Security: Smoke detector(s)
• Utilities: City water; City sewer; Individual water meter; Cable available; Concrete curbs and sidewalks; Alley access; Other utilities available
• Home design: Single family residence; One story; Residential property; Not attached; Year built 1968; Preowned
• Construction: Brick and siding construction; Composition roof; Slab foundation
• Exterior features: Covered porch(es); Covered patio/porch; Chain link fencing; Shed(s); Few trees; Large backyard with grass; Interior lot; Easements for utilities and other

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Ice maker; Built-in cabinets; Granite countertops; Eat-in kitchen / breakfast area; Pantry
• Bedrooms: 3 bedrooms (all on one level); Primary bedroom with ensuite bath and walk-in closet
• Flooring: Brick; Carpet; Ceramic tile; Concrete; Laminate
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating; Central air; Ceiling fan(s)
• Interior features: Eat-in kitchen; Granite counters; Pantry; Paneling; Cable TV available; High speed internet available; Window coverings
• Laundry & utility: Full-size washer/dryer area; Washer hookup; Electric dryer hookup; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $-82 ($-988/yr) — negative.
• To cash-flow at today's rent, offer at most $170k (7.9% below list).
• Meets the 1% rule at list price ($2k rent vs $185k).
• Recommended offer: $170k (7.9% below list) — sets the bar for cash-flow.
• Cap rate 5.8% 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; 230 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 31% of the median local income ($75k/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 $6k 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 46 days — a 3% lower offer ($179k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 22y ago; this cycle's ask has dropped $40k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.6% 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 $170,462 (7.9% 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. It's been on market 46 days. Have you received any prior offers? Is the seller open to a 8% concession, seller financing, or rate buy-down credit?
3. Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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 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: 5.76%
• Cash-on-cash: -1.91%
• DSCR: 0.92
• GRM: 8.0

CMA / ARV

• ARV (median comp): $233,128
• List price: $185,000
• Delta: -20.64%
• 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
1412 Morrison Pl	0.21mi	3/1.5 (+1)	1,296 (-9%)	2mo	$224,999	$174	68
918 Greencove Dr	0.24mi	3/2.0 (+1)	1,551 (+8%)	3mo	$265,000	$171	66
501 Bay Shore Dr	0.56mi	3/2.0 (+1)	1,441 (+1%)	2mo	$190,000	$132	64
1506 Whiteoak Dr	0.67mi	3/2.0 (+1)	1,435 (+0%)	2mo	$264,900	$185	60
1425 Whitney Dr	0.63mi	3/2.0 (+1)	1,471 (+3%)	4mo	$294,900	$200	56
1453 Shorecrest Dr	0.27mi	3/2.0 (+1)	1,228 (-14%)	3mo	$195,000	$159	55
1426 Whiteoak Dr	0.65mi	3/2.0 (+1)	1,384 (-3%)	3mo	$262,000	$189	55
1813 Castle Dr	0.54mi	3/2.0 (+1)	1,310 (-8%)	3mo	$270,000	$206	52
909 Lister Dr	0.55mi	3/1.0 (+1)	1,278 (-11%)	2mo	$239,990	$188	48
322 Davidson Dr	0.47mi	3/1.0 (+1)	1,239 (-13%)	2mo	$149,000	$120	47
914 Toyah Creek Ln	0.64mi	3/2.0 (+1)	1,248 (-13%)	1mo	$275,000	$220	41
1409 Meridian Way	0.73mi	3/2.0 (+1)	1,253 (-12%)	4mo	$240,000	$192	35

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 · 0.43% rent growth · sell at horizon

5-year hold

• IRR: -23.0%
• Equity multiple: 0.23×
• Total profit: $-39,838
• Equity at exit: $27,584

10-year hold

• IRR: -29.2%
• Equity multiple: -0.15×
• Total profit: $-59,404
• Equity at exit: $15,995

Cash invested: $51,800 (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: 230
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,922 high
• Mortgage (P&I): −$970
• Tax from tax record: −$553 /mo · $6,641/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$404
• Net cashflow: $-82

Break-even live

Break-even rent $2,026

Max offer price $170,462

Occupancy floor 99%

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
617 Rosewood Hills Dr Garland, TX	3.0	2.0	1272	$1,800	$1.42	24d	1	0.48mi
1009 Foxe Basin Dr Garland, TX	3.0	1.5	1019	$1,850	$1.82	2d	1	0.49mi
1406 Yukon Dr Garland, TX	2.0	1.5	950	$1,395	$1.47	43d	1	0.53mi
501 Rosewood Hills Dr Garland, TX	3.0	1.5	1304	$1,850	$1.42	19d	1	0.57mi
820 Courtenay Pl Garland, TX	3.0	2.0	1224	$1,845	$1.51	43d	1	0.58mi
822 Courtenay Pl Garland, TX	2.0	2.0	1296	$1,845	$1.42	22d	1	0.58mi
1506 Whiteoak Dr Garland, TX	3.0	2.0	1435	$2,000	$1.39	17d	1	0.65mi
1506 Whiteoak Dr Garland, TX	3.0	2.0	1435	$2,000	$1.39	17d	1	0.65mi
1617 Meridian Way Garland, TX	3.0	2.0	1476	$1,900	$1.29	24d	1	0.71mi
822 Milky Way Garland, TX	3.0	2.0	1141	$2,100	$1.84	7d	1	0.73mi
1130 Richard Dr Garland, TX	3.0	1.0	891	$2,000	$2.24	43d	1	0.75mi
1024 Sunset Dr Garland, TX	3.0	2.0	1512	$2,000	$1.32	14d	1	0.81mi
1841 Sage Dr Garland, TX	3.0	2.0	1356	$1,995	$1.47	14d	1	0.84mi
502 Moonlight Dr Garland, TX	3.0	2.0	1496	$1,900	$1.27	12d	1	0.86mi
1834 Sage Dr Garland, TX	3.0	2.0	1422	$2,100	$1.48	7d	1	0.87mi
618 Pleasant Valley Rd Garland, TX	3.0	2.0	1003	$2,095	$2.09	43d	1	0.88mi
1630 Dell Oak Dr Garland, TX	3.0	2.0	1268	$2,100	$1.66	7d	1	0.93mi
510 Sunset Dr Garland, TX	3.0	2.0	1265	$1,800	$1.42	4d	1	0.97mi
613 Dawn Dr Garland, TX	3.0	2.0	1026	$2,200	$2.14	4d	1	1.01mi
1101 Tensley Dr Garland, TX	3.0	1.5	950	$1,600	$1.68	43d	1	1.03mi
1206 Misty Way Garland, TX	3.0	2.0	1568	$2,075	$1.32	24d	1	1.05mi
1505 Bergen Dr Garland, TX	3.0	2.0	1702	$2,000	$1.18	24d	1	1.11mi
1446 Cross Courts Dr Garland, TX	3.0	2.0	1302	$1,950	$1.50	7d	1	1.11mi
1429 Eastview Dr Garland, TX	3.0	2.0	1529	$2,145	$1.40	22d	1	1.12mi
1429 Eastview Dr Garland, TX	3.0	2.0	1529	$2,145	$1.40	20d	1	1.12mi
917 Piedmont Dr Garland, TX	3.0	1.5	1053	$1,500	$1.42	7d	1	1.14mi
1446 Cross Courts Dr Garland, TX	3.0	2.0	1302	$1,961	$1.51	43d	1	1.15mi
614 Melissa Ln Garland, TX	3.0	2.0	1837	$2,230	$1.21	6d	1	1.22mi
2309 Shalimar Dr Garland, TX	3.0	2.0	1592	$2,000	$1.26	7d	1	1.27mi
1301 Quail Dr Garland, TX	3.0	2.0	1428	$2,000	$1.40	43d	1	1.28mi
1509 Quail Dr Garland, TX	3.0	1.5	1176	$1,795	$1.53	22d	1	1.37mi
1413 Eagle Pass Dr Garland, TX	3.0	3.0	1280	$1,835	$1.43	15d	1	1.40mi
1413 Eagle Pass Dr Garland, TX	3.0	3.0	1280	$1,835	$1.43	43d	1	1.40mi
1405 Meandering Way Garland, TX	3.0	2.0	1446	$2,100	$1.45	7d	1	1.40mi
1809 Pecan View Dr Garland, TX	3.0	2.0	1647	$2,141	$1.30	43d	1	1.41mi
2606 Shalimar Dr Garland, TX	3.0	2.0	1242	$1,850	$1.49	15d	1	1.43mi
1002 Westminster Ln Garland, TX	3.0	2.0	1626	$2,075	$1.28	17d	1	1.45mi
1902 High Meadow Dr Garland, TX	3.0	2.0	1452	$2,750	$1.89	43d	1	1.46mi
219 Loma Dr Garland, TX	3.0	1.5	884	$1,699	$1.92	43d	1	1.47mi
2013 Victoria Dr Garland, TX	3.0	2.0	1159	$1,900	$1.64	4d	1	1.49mi

Listing history 19 events

1. 2026-06-18
   days on market $185,000 Active 46 DOM
2. 2026-06-17
   days on market $185,000 Active 45 DOM
3. 2026-06-16
   days on market $185,000 Active 44 DOM
4. 2026-06-15
   days on market $185,000 Active 43 DOM
5. 2026-06-13
   days on market $185,000 Active 41 DOM
6. 2026-06-09
   days on market $185,000 Active 37 DOM
7. 2026-06-08
   pricedays on market $185,000 Active 36 DOM
8. 2026-06-07
   days on market $200,000 Active 35 DOM
9. 2026-06-04
   days on market $200,000 Active 32 DOM
10. 2026-06-03
    days on market $200,000 Active 31 DOM
11. 2026-06-02
    days on market $200,000 Active 30 DOM
12. 2026-06-01
    days on market $200,000 Active 29 DOM
13. 2026-05-31
    days on market $200,000 Active 28 DOM
14. 2026-05-14
    price $200,000 1640-char remark
15. 2026-05-03
    listed $225,000 Active 1640-char remark
16. 2004-05-19
    soldstatus
17. 2004-04-04
    historical
18. 2004-02-07
    listed $84,500
19. 1981-11-01
    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: $6,641 · $553/mo
• Projected year-2 tax: $6,641 · $553/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 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,064
• − Mortgage interest: −$10,363
• − Property taxes: −$6,641
• − Insurance: −$925
• − Repairs & maintenance: −$1,845
• − Management: −$1,845
• − Depreciation: −$5,382
• Taxable loss: −$3,937
• Est. tax savings @ 24.0%: +$945
• After-tax cash flow: $-43/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

+118.9% since first listed

7 events — show timeline

• 2026-06-08 Price Changed $185,000 NTREIS
• 2026-05-14 Price Changed $200,000 NTREIS
• 2026-05-03 Listed $225,000 NTREIS
• 2004-05-19 Sold (Public Records) — Public Records
• 2004-04-04 Listing Removed — NTREIS
• 2004-02-07 Listed $84,500 NTREIS
• 1981-11-01 Sold (Public Records) — Public Records

Property tax history

+8.3%/yr

Latest (2025): $6,641 · +5.3% YoY. Source: county tax records.