36 W Creek Ln

Grand Prairie, TX 75052

$165,000D

2 bd · 1.5 ba · 1,156 sqft · Built 1971 · Townhouse · Active · 105 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,611/mo
• Mortgage (P&I): −$865
• Tax + insurance: −$275
• HOA: −$210
• Vac / Maint / Mgmt: −$338
• Net cashflow: $-77/mo
• Annual: $-927/yr
• Cap rate: 5.73%
• Cash-on-cash: -2.01%
• DSCR: 0.91
• 1% rule: 0.98%
• Cash to close: $46,200

Investor read

• This is a 2-bed/1.5-bath townhouse listed at $165k. Condition is rated good.
• At list price, monthly cash flow is $-77 ($-927/yr) — negative.
• To cash-flow at today's rent, offer at most $154k (6.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $161k (2.3% below list).
• It's been on market 105 days — a 9% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $150k (9.0% below list) — sets the bar for market timing.
• 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.
• Location reads 80/100 on livability (#33 in TX, #1,660 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, cost of living A+, housing A+; Watch: commute F.
• Grand Prairie ISD (suburban): math 29% / reading 35% proficiency, ranked #572 of 826 in TX (top 69%) — 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: Ervin C Whitt El (math 17% / reading 32%, grade F, #3,052 of 4,322 statewide, top 74%, 511 students, 76% FRL).
• Market conditions: Rents flat; 527 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 86d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 65% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 12,577 units permitted in Dallas County in 2024 (6,829 in 5+ unit buildings).
• Dallas County population projected at +35% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• 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.
• Cap rate 5.7% vs local median 3.7% in Grand Prairie — 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.

Questions for listing agent

• 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?
• It's been on market 105 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.

Repairs flagged (vision-AI assessment)

• Minor: Ceiling fan in the living room — The ceiling fan appears to be in good condition with no visible damage or wear.
• Minor: Ceiling fan in the bedroom — The ceiling fan appears to be in good condition with no visible damage or wear.