724 Lemons St · Cedar Hill, TX 75104

$245,000

3 bd · 2.0 ba · 1,491 sqft · MultiFamily public records · 51 Days on market

Built 1986 4,574 sqft lot $164/sqft · 24% below area Est $322k · 24% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.7/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Well-kept half duplex that feels more like a single-family home with a true single-story layout. This 3 bedroom, 2 bath home offers about 1,491 sq ft with a layout that just works. The living area gets great natural light and has a fireplace that makes the space feel comfortable. The kitchen opens to the dining and living area, keeping everything connected and easy. The primary bedroom has a walk-in closet and double vanity. Secondary bedrooms are a good size and can flex as office space if needed. Private backyard, exactly what a lot of buyers are looking for right now. Located in an established neighborhood with a recreation center within walking distance, plus easy access to shopping, dining, and major highways.

Key facts

• Double vanity
• Walk-in closet
• Private backyard

Tags

• TRUE SINGLE-STORY LAYOUT
• WALK-IN CLOSET
• DOUBLE VANITY
• PRIVATE BACKYARD
• RECREATION CENTER
• EASY ACCESS TO SHOPPING

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $245k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $245k).
• Recommended offer: $238k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.4% vs local median 3.5% in Cedar Hill — 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 (#178 in TX, #4,673 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B+; Watch: amenities F, commute F.
• Cedar Hill ISD (suburban): math 19% / reading 35% proficiency, ranked #643 of 826 in TX (top 78%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents soft (-0.9%/yr); 411 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 12,577 units permitted in Dallas County in 2024 (6,829 in 5+ unit buildings).
• At $3,969/mo this rent would consume 46% of the median local household income ($103k/yr) (locally 1570% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $69k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($238k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 17y ago; this cycle's ask has dropped $15k (6%) 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→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $237,650 (3.0% below list)

Questions for the listing agent

1. It's been on market 51 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.62% ✓
• Cap rate: 12.44%
• Cash-on-cash: 21.94%
• DSCR: 1.98
• GRM: 5.1

CMA / ARV

• ARV (median comp): $322,081
• List price: $245,000
• Delta: -23.93%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 11.0%
• Equity multiple: 1.42×
• Total profit: $28,726
• Equity at exit: $36,530

10-year hold

• IRR: 17.3%
• Equity multiple: 2.22×
• Total profit: $83,637
• Equity at exit: $21,183

Cash invested: $68,600 (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 75104

• Home prices YoY: -5.5%
• Rents YoY: -0.9%
• Active inventory: 411
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $3,969 medium
• Mortgage (P&I): −$1,285
• Tax from tax record: −$494 /mo · $5,933/yr
• Insurance: −$102
• HOA: −$0
• Vacancy / Maint / Mgmt: −$833
• Net cashflow: $1,254

Break-even live

Break-even rent $2,381

Max offer price $245,000

Occupancy floor 63%

Sensitivity live

Price	-10% $1,393	-5% $1,324	+0% $1,254	+5% $1,185	+10% $1,116
Rent	-10% $941	-5% $1,097	+0% $1,254	+5% $1,411	+10% $1,568
Rate	-1.0pp $1,378	-0.5pp $1,317	base $1,254	+0.5pp $1,191	+1.0pp $1,126

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,968
Total (2 units)			$3,969

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: $61,250
• Closing costs: $7,350
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
528 Olympus St Cedar Hill, TX	3.0	2.0	1346	$2,330	$1.73	5d	1	0.26mi
602 Laurel St Cedar Hill, TX	3.0	2.0	1544	$2,260	$1.46	44d	1	0.29mi
505 Pico St Cedar Hill, TX	3.0	2.0	1446	$1,900	$1.31	44d	1	0.30mi
815 McComb Ln Cedar Hill, TX	3.0	2.0	1874	$2,405	$1.28	7d	1	0.32mi
907 Ponds Ct Cedar Hill, TX	3.0	2.0	1771	$2,149	$1.21	44d	1	0.35mi
811 Miles Ln Cedar Hill, TX	3.0	2.0	1771	$1,995	$1.13	25d	1	0.36mi
434 Pogue St Cedar Hill, TX	2.0	2.0	1210	$1,500	$1.24	18d	1	0.37mi
429 Dollins St Cedar Hill, TX	2.0	2.0	1100	$1,700	$1.55	25d	1	0.39mi
420 Dollins St Cedar Hill, TX	2.0	1.0	1004	$1,695	$1.69	4d	1	0.43mi
521 Weaver St Cedar Hill, TX	3.0	2.0	1833	$2,100	$1.15	4d	1	0.44mi
441 S Highland Dr Cedar Hill, TX	3.0	2.0	1243	$1,549	$1.25	44d	1	0.46mi
439 Jones St Cedar Hill, TX	3.0	1.0	1089	$1,650	$1.52	44d	1	0.46mi
508 Matterhorn St Cedar Hill, TX	3.0	1.0	1160	$2,100	$1.81	44d	1	0.50mi
415 Justice St Cedar Hill, TX	3.0	2.0	1206	$1,765	$1.46	13d	1	0.54mi
415 Justice St Cedar Hill, TX	3.0	2.0	1206	$1,776	$1.47	5d	1	0.54mi
447 Vincent St Cedar Hill, TX	2.0	2.0	993	$1,595	$1.61	19d	1	0.54mi
447 Vincent St Cedar Hill, TX	2.0	2.0	993	$1,595	$1.61	13d	1	0.54mi
452 Matterhorn St Cedar Hill, TX	3.0	2.0	1544	$1,940	$1.26	44d	1	0.55mi
401 S Cannady Dr Cedar Hill, TX	4.0	3.0	1596	$2,400	$1.50	21d	1	0.57mi
423 Vincent St Cedar Hill, TX	4.0	2.0	1253	$1,950	$1.56	44d	1	0.58mi
151 E Little Creek Rd Cedar Hill, TX	1.0–2.0	1.0–1.5	786	$1,628	$2.07	44d	3	0.61mi
490 Rainier St Cedar Hill, TX	3.0	2.0	1512	$2,270	$1.50	2d	1	0.67mi
124 Cambridge Dr Cedar Hill, TX	3.0	2.0	1536	$2,499	$1.63	7d	1	0.81mi
117 Cooper St Cedar Hill, TX	3.0	1.5	1519	$1,725	$1.14	13d	1	0.81mi
122 Cooper St Cedar Hill, TX	3.0	2.0	1546	$1,000	$0.65	44d	1	0.83mi
1105 Saturn Dr Cedar Hill, TX	3.0	1.5	1222	$1,595	$1.31	7d	1	0.86mi
119 Halifax Dr Cedar Hill, TX	3.0	2.0	1246	$2,300	$1.85	44d	1	0.87mi
1223 Reeves Ln Cedar Hill, TX	3.0	2.0	1418	$2,145	$1.51	22d	1	0.87mi
304 Meadowglen Dr Cedar Hill, TX	3.0	2.0	1801	$2,285	$1.27	25d	1	0.91mi
201 S Clark Rd Cedar Hill, TX	1.0–3.0	1.0–2.0	890	$1,945	$2.19	2d	86	0.95mi
845 Applewood Dr Cedar Hill, TX	3.0	2.0	1373	$1,900	$1.38	25d	1	0.95mi
845 Applewood Dr Cedar Hill, TX	3.0	2.0	1373	$1,900	$1.38	44d	1	0.95mi
317 Oak Meadow Ln Cedar Hill, TX	3.0	2.0	1523	$2,095	$1.38	7d	1	0.97mi
307 Halifax Ct Cedar Hill, TX	3.0	2.0	1792	$2,599	$1.45	7d	1	0.99mi
233 Berthe Ct Cedar Hill, TX	3.0	2.0	1793	$2,400	$1.34	44d	1	1.00mi
801 Bluestem Way Cedar Hill, TX	1.0–3.0	1.0–2.5	1080	$2,857	$2.65	1d	9	1.13mi
1017 Glencrest Dr Cedar Hill, TX	3.0	2.0	1780	$2,205	$1.24	44d	1	1.15mi
1146 Weaver St Cedar Hill, TX	3.0	2.0	1804	$2,350	$1.30	17d	1	1.21mi
301 N Joe Wilson Rd Cedar Hill, TX	1.0–2.0	1.0–2.0	812	$1,672	$2.06	1d	16	1.26mi
1104 Germany Dr Cedar Hill, TX	3.0	2.0	1706	$2,195	$1.29	19d	1	1.28mi

Listing history 12 events

1. 2026-06-03
   days on market $245,000 Active 51 DOM
2. 2026-06-02
   days on market $245,000 Active 50 DOM
3. 2026-06-01
   days on market $245,000 Active 49 DOM
4. 2026-05-31
   days on market $245,000 Active 48 DOM
5. 2026-05-08
   price $245,000 724-char remark

   Show marketing remark (724 chars)

   Well-kept half duplex that feels more like a single-family home with a true single-story layout. This 3 bedroom, 2 bath home offers about 1,491 sq ft with a layout that just works. The living area gets great natural light and has a fireplace that makes the space feel comfortable. The kitchen opens to the dining and living area, keeping everything connected and easy. The primary bedroom has a walk-in closet and double vanity. Secondary bedrooms are a good size and can flex as office space if needed. Private backyard, exactly what a lot of buyers are looking for right now. Located in an established neighborhood with a recreation center within walking distance, plus easy access to shopping, dining, and major highways.

6. 2026-04-13
   listed $260,000 Active 724-char remark

   Show marketing remark (724 chars)

   Well-kept half duplex that feels more like a single-family home with a true single-story layout. This 3 bedroom, 2 bath home offers about 1,491 sq ft with a layout that just works. The living area gets great natural light and has a fireplace that makes the space feel comfortable. The kitchen opens to the dining and living area, keeping everything connected and easy. The primary bedroom has a walk-in closet and double vanity. Secondary bedrooms are a good size and can flex as office space if needed. Private backyard, exactly what a lot of buyers are looking for right now. Located in an established neighborhood with a recreation center within walking distance, plus easy access to shopping, dining, and major highways.

7. 2017-09-07
   soldstatus
8. 2010-02-24
   soldstatus
9. 2009-11-04
   soldstatus 86-char remark

   Show marketing remark (86 chars)

   TO BE SOLD AS IS, THIS IS A TOTAL REDO FOR INVESTOR. PRICED FOR QUICK SALE GO AND SHOW

10. 2009-10-15
    historical 86-char remark

    Show marketing remark (86 chars)

    TO BE SOLD AS IS, THIS IS A TOTAL REDO FOR INVESTOR. PRICED FOR QUICK SALE GO AND SHOW

11. 2009-06-16
    listed $40,500 86-char remark

    Show marketing remark (86 chars)

    TO BE SOLD AS IS, THIS IS A TOTAL REDO FOR INVESTOR. PRICED FOR QUICK SALE GO AND SHOW

12. 1992-06-29
    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: $5,933 · $494/mo
• Projected year-2 tax: $5,933 · $494/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 4/10 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 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $47,628
• − Mortgage interest: −$13,724
• − Property taxes: −$5,933
• − Insurance: −$1,225
• − Repairs & maintenance: −$3,810
• − Management: −$3,810
• − Depreciation: −$7,127
• Taxable income: $11,999
• Est. tax owed @ 24.0%: −$2,880
• After-tax cash flow: $12,171/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: Cedar Hill ISD
• NCES district ID: 4813230
• Math proficiency: 19% ▼ -22.00%
• Reading proficiency: 35% ▼ -5.00%
• Median HH income: $64,438
• Composite: 25.04/100
• National rank: #7548
• State rank: #643 of 826 in TX

Livability — Cedar Hill

• Score: 74/100
• State rank: #178
• US rank: #4673

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cedar Hill, TX
• County: Dallas County · 2,612,404 people
• City population: 49,228
• Metro: Dallas-Fort Worth-Arlington, TX
• Population (ZIP): 49,228
• Household income: $102,875
• Rent vs Own: 28.0% rent · 72.0% own
• Severe rent burden: 1570.0

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: Black 50% Hispanic / Latino 28% White 16% Two or more races 11% Asian 2%
• Hispanic origin (detail): Mexican 24%
• Common ancestry: Lithuanian 1% Italian 1%
• Foreign-born: 12% · Canada, Vietnam
• Languages at home: 77% English-only · Spanish 19% 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: ▼ -16.63%
• Current HPI: 287.5359
• Rent YoY: ▼ -0.88%
• 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

+504.9% since first listed

8 events — show timeline

• 2026-05-08 Price Changed $245,000 NTREIS
• 2026-04-13 Listed $260,000 NTREIS
• 2017-09-07 Sold (Public Records) — Public Records
• 2010-02-24 Sold (Public Records) — Public Records
• 2009-11-04 Sold (MLS) — NTREIS
• 2009-10-15 Listing Removed — NTREIS
• 2009-06-16 Listed $40,500 NTREIS
• 1992-06-29 Sold (Public Records) — Public Records

Property tax history

+6.3%/yr

Latest (2025): $5,933 · +0.0% YoY. Source: county tax records.