3241 Santiago Dr · Mesquite, TX 75150

$140,000

3 bd · 1.5 ba · 1,693 sqft · SingleFamily public records · 2 Days on market

Built 1960 8,799 sqft lot Est $274k · 49% 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 +20.7/30.0
• ARV discount +15.0/15.0
• 1% rule +8.5/10.0
• DSCR +6.6/10.0
• Livability +3.5/5.0
• Schools +2.9/10.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Calling all investors! Bring your vision to 3241 Santiago Dr and turn this into your next project. This 3-bedroom, 1.5-bath home sits on a slab foundation, is priced for a quick sale, and offers straightforward ARV potential for the right investor. Property needs work and is being sold as-is. Great opportunity for renovation, rental, or resale. No conventional, FHA, or VA financing. Utilities are not currently on. Property is being sold as-is.

Key facts

• Slab foundation
• Rental potential
• Resale potential

Tags

• SLAB FOUNDATION
• RENOVATION OPPORTUNITY
• RENTAL POTENTIAL
• RESALE POTENTIAL

Property features AI

Finance

• Other: Possession at closing/funding; Listing is active with exclusive right to sell agreement
• Financial info: Listing terms: Cash; No second mortgage indicated
• HOA & community: No homeowners association

Exterior

• Parking: Carport (1 covered/carport space)
• Security: Video surveillance present
• Utilities: City sewer; Not in a municipal utility district
• Home design: Single-family residence; One-story; Property attached: Yes
• Construction: Built in 1960
• Exterior features: Lot under 0.5 acre (approx. 0.20 acre); Subdivision: Country Club Estates

Interior

• Kitchen: Dishwasher; Garbage disposal
• Bedrooms: 3 bedrooms; Primary bedroom on main level (16 x 12)
• Bathrooms: 1 full bathroom; 1 half bathroom
• Interior features: Pantry; One living area; One dining area; Total of 2 main rooms (plus bedrooms and baths)

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $190 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Cap rate 7.9% vs local median 4.4% in Mesquite — 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 70/100 on livability (#358 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A-; Watch: crime F, commute F.
• Mesquite ISD (suburban): math 35% / reading 32% proficiency, ranked #536 of 826 in TX (top 65%) — 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: Shands El (math 30% / reading 30%, grade F, #2,500 of 4,322 statewide, top 58%, 551 students, 89% FRL) — zoned schools average 89% FRL vs 63% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 195 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 35% of the median local income ($65k/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 $968 of loan paydown is wiped out by about $4k 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

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 4.4% 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 $140,000

Questions for the listing agent

1. Built in 1960 — 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. 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?
5. 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.
6. 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.
7. 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: 1.35% ✓
• Cap rate: 7.92%
• Cash-on-cash: 5.83%
• DSCR: 1.26
• GRM: 6.2

CMA / ARV

• ARV (on-the-fly): $274,266
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3418 Caracas Dr	0.23mi	3/1.5	1,810 (+7%)	3mo	$259,000	$143	76
3324 Trinidad Dr	0.05mi	3/1.0	1,523 (-10%)	5mo	$212,000	$139	75
4404 San Marcus Ave	0.23mi	3/2.0	1,566 (-8%)	2mo	$275,000	$176	73
3100 Caribbean Dr	0.36mi	4/2.5 (+1)	1,690 (-0%)	2mo	$275,000	$163	72
4738 Bedford Dr	0.55mi	4/2.0 (+1)	1,740 (+3%)	0mo	$250,000	$144	62
4765 Snow Dr	0.73mi	3/2.0	1,647 (-3%)	4mo	$224,900	$137	56
4781 Stallcup Dr	0.61mi	3/3.0	1,794 (+6%)	2mo	$289,900	$162	54
4760 Stallcup Dr	0.64mi	4/2.5 (+1)	1,837 (+8%)	2mo	$267,900	$146	45
2839 Linhaven Dr	0.73mi	4/3.0 (+1)	1,788 (+6%)	2mo	$295,000	$165	44
3704 Sidney Dr	0.65mi	3/2.0	1,480 (-13%)	5mo	$295,000	$199	43
2847 Linhaven Dr	0.73mi	4/2.0 (+1)	1,895 (+12%)	3mo	$195,000	$103	37
2505 Leta Way	0.74mi	4/2.5 (+1)	1,917 (+13%)	2mo	$330,000	$172	32

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 · 0.4% rent growth · sell at horizon

5-year hold

• IRR: -11.0%
• Equity multiple: 0.61×
• Total profit: $-15,159
• Equity at exit: $20,874

10-year hold

• IRR: -7.3%
• Equity multiple: 0.61×
• Total profit: $-15,447
• Equity at exit: $12,105

Cash invested: $39,200 (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 75150

• Home prices YoY: -33.8%
• Rents YoY: 0.4%
• Active inventory: 195
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,894 high
• Mortgage (P&I): −$734
• Tax from tax record: −$514 /mo · $6,164/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$398
• Net cashflow: $190

Break-even live

Break-even rent $1,653

Max offer price $140,000

Occupancy floor 85%

Sensitivity live

Price	-10% $270	-5% $230	+0% $190	+5% $151	+10% $111
Rent	-10% $41	-5% $115	+0% $190	+5% $265	+10% $340
Rate	-1.0pp $261	-0.5pp $226	base $190	+0.5pp $154	+1.0pp $117

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3064 Clover Dr Mesquite, TX	3.0	1.5	1334	$1,795	$1.35	9d	1	0.23mi
3064 Clover Dr Mesquite, TX	3.0	1.5	1334	$1,795	$1.35	12d	1	0.23mi
3057 Dogwood Dr Mesquite, TX	3.0	1.0	1348	$1,575	$1.17	9d	1	0.27mi
4437 Scottsdale Dr Mesquite, TX	4.0	3.0	1300	$1,950	$1.50	5d	1	0.41mi
4524 Harvey Dr Mesquite, TX	4.0	1.5	1890	$1,950	$1.03	45d	1	0.42mi
3520 Sidney Dr Mesquite, TX	4.0	3.0	1400	$2,150	$1.54	45d	1	0.62mi
3253 Millmar Dr Dallas, TX	3.0	2.0	1268	$1,795	$1.42	19d	1	0.64mi
3412 Beth Dr Mesquite, TX	3.0	1.0	1148	$1,795	$1.56	45d	1	0.65mi
5303 Kiamesha Way Mesquite, TX	3.0	2.0	1534	$1,725	$1.12	45d	1	0.71mi
3230 San Lucas Ave Dallas, TX	3.0	1.0	1164	$2,000	$1.72	20d	1	0.73mi
3500 Statler Dr Mesquite, TX	3.0	2.0	1557	$1,895	$1.22	25d	1	0.77mi
10803 Mandalay Dr Dallas, TX	3.0	2.5	1882	$2,700	$1.43	45d	1	0.79mi
3404 Gray Dr Mesquite, TX	4.0	2.0	1516	$2,150	$1.42	14d	1	0.81mi
3216 San Vicente Ave Dallas, TX	3.0	1.0	1209	$2,250	$1.86	6d	1	0.83mi
4345 Chestnut Dr Mesquite, TX	3.0	2.0	1100	$1,525	$1.39	3d	1	0.86mi
3622 Gray Dr Mesquite, TX	3.0	2.0	1786	$2,200	$1.23	9d	1	0.88mi
2938 Healey Dr Dallas, TX	3.0	2.0	1400	$2,095	$1.50	45d	1	0.90mi
3532 Hilton Dr Mesquite, TX	3.0	1.5	1216	$1,690	$1.39	4d	1	0.90mi
3532 Hilton Dr Mesquite, TX	3.0	1.5	1216	$1,690	$1.39	0d	1	0.90mi
3022 Larry Dr Dallas, TX	3.0	2.0	1125	$1,949	$1.73	3d	1	0.91mi
2310 La Costa Mesquite, TX	3.0	2.0	1479	$2,000	$1.35	9d	1	0.96mi
2640 Glenmore Dr Mesquite, TX	3.0	2.0	1464	$1,950	$1.33	25d	1	0.96mi
2517 Rosewood Dr Mesquite, TX	4.0	3.0	1933	$2,500	$1.29	45d	1	0.98mi
10830 Cotillion Dr Dallas, TX	3.0	1.5	1200	$1,795	$1.50	25d	1	0.99mi
10732 Cotillion Dr Dallas, TX	3.0	2.0	1513	$1,895	$1.25	45d	1	1.01mi
2502 Rosewood Dr Mesquite, TX	4.0	2.0	1665	$2,150	$1.29	45d	1	1.02mi
10403 Sandra Lynn Dr Dallas, TX	3.0	2.0	1610	$2,195	$1.36	5d	1	1.02mi
5412 Village Green Dr Mesquite, TX	3.0	2.0	1422	$2,000	$1.41	25d	1	1.05mi
2709 Highwood Dr Dallas, TX	3.0	1.0	1116	$1,695	$1.52	25d	1	1.09mi
3008 Scottsbluff Dr Dallas, TX	4.0	2.0	1220	$2,200	$1.80	21d	1	1.14mi
1901 Pinehurst Ln Mesquite, TX	1.0–2.0	1.0–2.5	842	$1,770	$2.10	0d	16	1.15mi
2729 Lockhart Ave Dallas, TX	3.0	2.0	1238	$2,300	$1.86	20d	1	1.19mi
2729 Lockhart Ave Unit NA Dallas, TX	3.0	2.0	1238	$2,300	$1.86	25d	1	1.19mi
2305 Driftwood Dr Mesquite, TX	1.0–2.0	1.0–2.0	842	$1,765	$2.10	0d	29	1.21mi
4819 N Galloway Ave Mesquite, TX	1.0–3.0	1.0–2.0	963	$1,815	$1.88	0d	39	1.24mi
3110 Berkshire Dr Mesquite, TX	3.0	2.0	1755	$2,038	$1.16	0d	1	1.27mi
10858 Cassandra Way Dallas, TX	3.0	1.5	1439	$1,850	$1.29	19d	1	1.29mi
3315 Kensington Dr Mesquite, TX	3.0	2.0	1641	$1,900	$1.16	45d	1	1.30mi
2510 Materhorn Dr Dallas, TX	3.0	2.0	1452	$2,195	$1.51	4d	1	1.30mi
1300 Wooded Lake Dr Mesquite, TX	1.0–3.0	1.0–2.0	897	$1,993	$2.22	6d	1	1.38mi

Listing history 2 events

1. 2026-06-13
   remarks 447-char remark
2. 2026-06-13
   listed $140,000 Pending 2 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: $6,164 · $514/mo
• Projected year-2 tax: $6,164 · $514/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 · 25 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: $22,731
• − Mortgage interest: −$7,842
• − Property taxes: −$6,164
• − Insurance: −$700
• − Repairs & maintenance: −$1,819
• − Management: −$1,819
• − Depreciation: −$4,073
• Taxable income: $315
• Est. tax owed @ 24.0%: −$76
• After-tax cash flow: $2,208/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: Mesquite ISD
• NCES district ID: 4830390
• Math proficiency: 35% ▼ -11.00%
• Reading proficiency: 32% ▼ -7.00%
• Median HH income: $49,372
• Composite: 29.06/100
• National rank: #6606
• State rank: #536 of 826 in TX

Livability — Mesquite

• Score: 70/100
• State rank: #358
• US rank: #7743

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mesquite, TX
• County: Dallas County · 2,612,404 people
• City population: 150,788
• Metro: Dallas-Fort Worth-Arlington, TX
• Population (ZIP): 62,738
• Household income: $65,440
• Rent vs Own: 48.6% rent · 51.4% own
• Severe rent burden: 3609.0

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 0.66)
• Race & ethnicity: Hispanic / Latino 47% White 27% Two or more races 21% Black 21% Asian 3%
• Hispanic origin (detail): Mexican 42%
• Common ancestry: Slovak 1% Lithuanian 1% Serbian 1%
• Foreign-born: 20% · Canada, Vietnam, China
• Languages at home: 56% English-only · Spanish 40% Other Asian/Pacific 1% Arabic 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: ▼ -172.95%
• Current HPI: 338.3934
• Rent YoY: ▲ 0.40%
• 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

5 events — show timeline

• 2026-06-12 Pending — NTREIS
• 2026-06-09 Listed $140,000 NTREIS
• 2002-07-24 Sold (Public Records) — Public Records
• 2002-07-24 Sold (Public Records) — Public Records
• 2002-07-24 Sold (Public Records) — Public Records

Property tax history

+7.5%/yr

Latest (2025): $6,164 · +1.1% YoY. Source: county tax records.