4621 Owenwood Ave · Dallas, TX 75223

$225,000

2 bd · 1.0 ba · 1,189 sqft · SingleFamily public records · 150 Days on market

Built 1940 5,271 sqft lot $189/sqft · 18% above area Est $241k · 7% 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 +10.4/15.0
• Cash flow +9.6/30.0
• Livability +4.0/5.0
• 1% rule +2.8/10.0
• Schools +2.8/10.0
• DSCR +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Enjoy comfortable city living in this updated 4 bedroom, 2 bath home offering a flexible and open layout designed for modern living. Prime location near Downtown Dallas with quick access to major highways, shopping, and dining. Perfect for those who want space without sacrificing convenience.

Key facts

• Flexible layout
• Open layout
• Quick access

Tags

• UPDATED HOME
• FLEXIBLE LAYOUT
• OPEN LAYOUT
• PRIME LOCATION
• QUICK ACCESS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $-152 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $198k (11.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $175k (22.4% below list).
• Recommended offer: $175k (22.4% below list) — sets the bar for 1% rule.
• Cap rate 5.5% vs local median 2.3% in Dallas — 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 81/100 on livability (#24 in TX, #1,380 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: crime F.
• Dallas ISD (urban): math 31% / reading 36% proficiency, ranked #559 of 826 in TX (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 83% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Paul L Dunbar Learning Center (math 27% / reading 22%, grade F, #3,052 of 4,322 statewide, top 74%, 531 students, 95% FRL); Billy Earl Dade Middle (math 18% / reading 23%, grade F, #1,407 of 1,662 statewide, top 86%, 636 students, 100% FRL); James Madison H S (math 17% / reading 17%, grade F, #1,491 of 1,632 statewide, top 92%, 359 students, 96% FRL).
• Zoned-school proficiency averages 21% at this address vs 34% district-wide (-13 pts) — the specific schools serving this property underperform the Dallas ISD average; the district grade overstates school quality for this exact location.
• Market conditions: 91 active listings in the ZIP; 35 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).

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 150 days — a 12% lower offer ($198k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 8y ago; this cycle's ask is 12400% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $174,639 (22.4% 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 150 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
3. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 0.78% ✗
• Cap rate: 5.48%
• Cash-on-cash: -2.90%
• DSCR: 0.87
• GRM: 10.7

CMA / ARV

• ARV (median comp): $240,642
• List price: $225,000
• Delta: -6.50%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4827 Baldwin St	0.09mi	3/2.0 (+1)	1,300 (+9%)	1mo	$289,999	$223	71
4311 Metropolitan Ave	0.50mi	3/2.0 (+1)	1,175 (-1%)	2mo	$239,000	$203	64
4222 Carl St	0.59mi	2/1.0	1,116 (-6%)	4mo	$79,000	$71	59
2033 Redman Cir	0.27mi	3/1.0 (+1)	1,024 (-14%)	2mo	$110,000	$107	58
4219 Frank St	0.56mi	3/2.0 (+1)	1,145 (-4%)	2mo	$199,900	$175	57
3210 Culver St	0.72mi	2/1.0	1,172 (-1%)	9mo	$105,000	$90	56
3311 S Haskell Ave	0.25mi	3/2.0 (+1)	1,350 (+14%)	4mo	$269,999	$200	54
4110 Carl	0.68mi	2/1.0	1,095 (-8%)	8mo	$115,000	$105	49
5231 Beeman Ave	0.62mi	2/1.0	1,068 (-10%)	8mo	$125,000	$117	47
3235 Fairview Ave	0.69mi	2/1.0	1,319 (+11%)	7mo	$149,000	$113	44
2912 Frazier St	0.49mi	3/2.0 (+1)	1,010 (-15%)	2mo	$160,000	$158	41
3218 Reynolds Ave	0.45mi	3/2.0 (+1)	1,350 (+14%)	10mo	$265,000	$196	39

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -21.1%
• Equity multiple: 0.27×
• Total profit: $-46,135
• Equity at exit: $33,548

10-year hold

• IRR: -14.6%
• Equity multiple: 0.17×
• Total profit: $-52,599
• Equity at exit: $19,454

Cash invested: $63,000 (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 75223

• Home prices YoY: -24.6%
• Active inventory: 91
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $1,746 high
• Mortgage (P&I): −$1,180
• Tax from tax record: −$258 /mo · $3,097/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$367
• Net cashflow: $-152

Break-even live

Break-even rent $1,939

Max offer price $198,130

Occupancy floor —

Sensitivity live

Price	-10% $-25	-5% $-88	+0% $-152	+5% $-216	+10% $-279
Rent	-10% $-290	-5% $-221	+0% $-152	+5% $-83	+10% $-14
Rate	-1.0pp $-39	-0.5pp $-95	base $-152	+0.5pp $-210	+1.0pp $-270

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 35 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4717 Owenwood Ave Dallas, TX	3.0	2.0	1090	$1,490	$1.37	16d	1	0.05mi
3422 Terrell St Dallas, TX	1.0	1.0	820	$800	$0.98	45d	1	0.27mi
4525 Metropolitan Ave Dallas, TX	3.0	2.0	1090	$1,460	$1.34	1d	1	0.30mi
4706 Spring Ave Dallas, TX	3.0	2.0	1287	$3,900	$3.03	45d	1	0.33mi
4303 Jamaica St Dallas, TX	3.0	2.0	1027	$1,299	$1.26	1d	1	0.52mi
2720 Morning Ave Dallas, TX	3.0	2.0	1332	$2,350	$1.76	45d	1	0.54mi
1514 Washington St Unit 105 Dallas, TX	2.0	2.5	1404	$2,950	$2.10	9d	1	0.75mi
1315 S Barry Ave Dallas, TX	1.0–2.0	1.0	670	$1,040	$1.55	12d	5	0.83mi
3726 Copeland St Dallas, TX	3.0	2.0	1298	$1,680	$1.29	1d	1	0.90mi
2711 Cross St Dallas, TX	2.0	1.0	700	$1,249	$1.78	1d	1	0.92mi
2714 Hector St Dallas, TX	3.0	2.0	1233	$2,100	$1.70	26d	1	0.93mi
3639 Pine St Dallas, TX	3.0	2.0	1090	$1,490	$1.37	16d	1	0.95mi
3619 York St Dallas, TX	3.0	2.0	1298	$1,714	$1.32	1d	1	1.09mi
3408 Spring Ave Dallas, TX	3.0	2.0	780	$1,314	$1.68	1d	1	1.14mi
3627 Sidney St Dallas, TX	3.0	2.0	1090	$1,600	$1.47	1d	1	1.17mi
5110 Lindsley Ave Dallas, TX	2.0	2.0	1340	$2,400	$1.79	45d	1	1.19mi
3526 Elsie Faye Heggins St Dallas, TX	3.0	2.0	1113	$1,795	$1.61	26d	1	1.22mi
3526 Elsie Faye Heggins St Dallas, TX	3.0	2.0	1113	$1,795	$1.61	9d	1	1.22mi
3308 Birmingham Ave Unit 1 Dallas, TX	2.0	2.5	1451	$2,275	$1.57	26d	1	1.22mi
3308 Birmingham Ave Unit 7 Dallas, TX	2.0	2.5	1287	$2,125	$1.65	17d	1	1.22mi
3308 Birmingham Ave Unit 6 Dallas, TX	2.0	2.5	1341	$2,175	$1.62	18d	1	1.22mi
3308 Birmingham Ave Unit 03 Dallas, TX	2.0	2.5	1451	$2,275	$1.57	45d	1	1.22mi
1006 Grandview Ave Dallas, TX	3.0	1.0	1345	$1,500	$1.12	45d	1	1.23mi
5221 Grovewood St Dallas, TX	3.0	1.5	840	$1,400	$1.67	45d	1	1.25mi
4942 Garland Ave Dallas, TX	3.0	1.0	1058	$1,600	$1.51	26d	1	1.27mi
801 Wayne St Dallas, TX	1.0	1.0	702	$995	$1.42	26d	1	1.29mi
3907 Roberts Ave Dallas, TX	3.0	1.0	908	$1,395	$1.54	17d	1	1.31mi
5340 Dimple Jackson St Dallas, TX	3.0	2.0	1298	$1,814	$1.40	1d	1	1.31mi
5214 Ash Ln Dallas, TX	3.0	2.0	1207	$2,200	$1.82	45d	1	1.33mi
4506 Roberts Ave Dallas, TX	2.0	2.0	1000	$1,499	$1.50	0d	1	1.38mi
4611 Bradshaw St Dallas, TX	3.0	2.0	1145	$1,495	$1.31	0d	1	1.38mi
616 Wayne St Dallas, TX	3.0	2.0	1224	$2,395	$1.96	45d	1	1.39mi
3402 Lawnview Ave Dallas, TX	3.0	2.0	1500	$1,700	$1.13	26d	1	1.47mi
3230 Elihu St #2 Dallas, TX	2.0	3.5	1400	$2,300	$1.64	45d	1	1.50mi
3230 Elihu St #5 Dallas, TX	2.0	3.5	1400	$2,700	$1.93	45d	1	1.50mi

Listing history 35 events

1. 2026-06-21
   days on market $225,000 Active 150 DOM
2. 2026-06-18
   days on market $225,000 Active 147 DOM
3. 2026-06-17
   days on market $225,000 Active 146 DOM
4. 2026-06-16
   days on market $225,000 Active 145 DOM
5. 2026-06-15
   days on market $225,000 Active 144 DOM
6. 2026-06-13
   days on market $225,000 Active 142 DOM
7. 2026-06-09
   days on market $225,000 Active 138 DOM
8. 2026-06-08
   days on market $225,000 Active 137 DOM
9. 2026-06-07
   days on market $225,000 Active 136 DOM
10. 2026-06-04
    days on market $225,000 Active 133 DOM
11. 2026-06-03
    days on market $225,000 Active 132 DOM
12. 2026-06-02
    days on market $225,000 Active 131 DOM
13. 2026-06-02
    days on market $225,000 Active 130 DOM
14. 2026-05-31
    days on market $225,000 Active 129 DOM
15. 2026-01-24
    listed $1,800
16. 2026-01-23
    historical $1,800
17. 2026-01-23
    listed $1,800
18. 2026-01-22
    listed $225,000 Active 293-char remark

    Show marketing remark (293 chars)

    Enjoy comfortable city living in this updated 4 bedroom, 2 bath home offering a flexible and open layout designed for modern living. Prime location near Downtown Dallas with quick access to major highways, shopping, and dining. Perfect for those who want space without sacrificing convenience.

19. 2024-01-17
    historical $1,750
20. 2023-12-09
    listed $1,750
21. 2021-03-02
    soldstatus Sold 130-char remark

    Show marketing remark (130 chars)

    This 2 bed 1 bath home near Fair Park is sold as is. Bring all offers, preferably cash. Offers responded to within 24 to 48 hours.

22. 2021-02-08
    status Pending 130-char remark

    Show marketing remark (130 chars)

    This 2 bed 1 bath home near Fair Park is sold as is. Bring all offers, preferably cash. Offers responded to within 24 to 48 hours.

23. 2021-02-02
    status Active 130-char remark

    Show marketing remark (130 chars)

    This 2 bed 1 bath home near Fair Park is sold as is. Bring all offers, preferably cash. Offers responded to within 24 to 48 hours.

24. 2021-01-25
    status Pending 130-char remark

    Show marketing remark (130 chars)

    This 2 bed 1 bath home near Fair Park is sold as is. Bring all offers, preferably cash. Offers responded to within 24 to 48 hours.

25. 2021-01-09
    listed $65,000 Active 130-char remark

    Show marketing remark (130 chars)

    This 2 bed 1 bath home near Fair Park is sold as is. Bring all offers, preferably cash. Offers responded to within 24 to 48 hours.

26. 2018-06-22
    status Pending
27. 2018-06-16
    historical Active Option Contract
28. 2018-06-16
    historical
29. 2018-06-05
    listed $80,000 Active
30. 2018-06-04
    historical
31. 2018-05-15
    status Active
32. 2018-05-07
    historical
33. 2018-05-02
    price $80,000
34. 2018-05-01
    listed $70,000 Active
35. 1998-06-04
    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: $3,097 · $258/mo
• Projected year-2 tax: $4,118 · $343/mo
• Expected delta: +$1,021/yr (+$85/mo · 33.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 68% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 26 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: $20,957
• − Mortgage interest: −$12,603
• − Property taxes: −$3,097
• − Insurance: −$1,125
• − Repairs & maintenance: −$1,677
• − Management: −$1,677
• − Depreciation: −$6,545
• Taxable loss: −$5,767
• Est. tax savings @ 24.0%: +$1,384
• After-tax cash flow: $-441/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: Dallas ISD
• NCES district ID: 4816230
• Math proficiency: 31% ▼ -16.00%
• Reading proficiency: 36% ▼ -4.00%
• Median HH income: $42,881
• Composite: 28.41/100
• National rank: #6763
• State rank: #559 of 826 in TX

Livability — Dallas

• Score: 81/100
• State rank: #24
• US rank: #1380

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dallas, TX
• County: Dallas County · 2,612,404 people
• City population: 1,168,437
• Metro: Dallas-Fort Worth-Arlington, TX
• Population (ZIP): 11,994
• Household income: $73,318
• Rent vs Own: 44.8% rent · 55.2% own
• Severe rent burden: 526.0

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 Hispanic (66%)
• Race & ethnicity: Hispanic / Latino 66% Two or more races 19% White 18% Black 12% Asian 2%
• Hispanic origin (detail): Mexican 63% Dominican 1%
• Common ancestry: Lithuanian 1% Portuguese 1% Slovak 1%
• Foreign-born: 30% · Canada
• Languages at home: 40% English-only · Spanish 59% 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: ▼ -121.38%
• Current HPI: 372.672
• Rent YoY: —
• 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

-97.4% since first listed

21 events — show timeline

• 2026-01-24 Listed for Rent $1,800 NTREIS
• 2026-01-23 Rental Removed $1,800 APPFOLIO
• 2026-01-23 Listed for Rent $1,800 APPFOLIO
• 2026-01-22 Listed $225,000 NTREIS
• 2024-01-17 Rental Removed $1,750 NTREIS
• 2023-12-09 Listed for Rent $1,750 NTREIS
• 2021-03-02 Sold (MLS) — NTREIS
• 2021-02-08 Pending — NTREIS
• 2021-02-02 Relisted — NTREIS
• 2021-01-25 Pending — NTREIS
• 2021-01-09 Listed $65,000 NTREIS
• 2018-06-22 Pending — NTREIS
• 2018-06-16 Contingent — NTREIS
• 2018-06-16 Listing Removed — NTREIS
• 2018-06-05 Listed $80,000 NTREIS
• 2018-06-04 Listing Removed — NTREIS
• 2018-05-15 Relisted — NTREIS
• 2018-05-07 Listing Removed — NTREIS
• 2018-05-02 Price Changed $80,000 NTREIS
• 2018-05-01 Listed $70,000 NTREIS
• 1998-06-04 Sold (Public Records) — Public Records

Property tax history

+10.4%/yr

Latest (2025): $3,097 · +1.5% YoY. Source: county tax records.