1902 Homeland St · Dallas, TX 75212

$529,995

3 bd · 3.5 ba · 2,160 sqft · SingleFamily public records · 89 Days on market

Built 2024 2,788 sqft lot $245/sqft · at area comps Est $531k · at est.

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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).

• Appreciation +10.0/10.0
• Cash flow +7.8/30.0
• ARV discount +7.6/15.0
• Livability +4.0/5.0
• Schools +2.8/10.0
• Condition / age +2.5/5.0
• DSCR +1.9/10.0
• Rent growth +1.4/5.0
• 1% rule +1.2/10.0

Listing remarks MLS

Located in the heart of Dallas near the vibrant Trinity Groves district, 1902 Homeland St offers sophisticated three-level contemporary living designed for both comfort and style. This luxury residence features three spacious bedrooms, each with its own private ensuite bath, plus a convenient half bath for guests. The open-concept main living area is filled with natural light from expansive windows and showcases clean architectural lines, high ceilings, and designer finishes throughout. The sleek, modern kitchen is ideal for entertaining, complete with premium finishes, custom cabinetry, and an oversized island that anchors the space. The third-level primary suite serves as a private retreat with a spa-inspired bathroom and generous closet space. With an attached garage and a functional multi-level layout offering privacy and flexibility, this home delivers a refined, low-maintenance lifestyle just minutes from Downtown Dallas, premier dining, entertainment, and major highways. ASK AGENT ABOUT SELLER CONCESSIONS.

Key facts

• Custom cabinetry
• Premium finishes
• Modern kitchen

Tags

• PRIVATE ENSUITE BATH
• OPEN CONCEPT MAIN LIVING AREA
• MODERN KITCHEN
• PREMIUM FINISHES
• CUSTOM CABINETRY
• OVERSIZED ISLAND

What this means for you Summary

Snapshot

• This is a 3-bed/3.5-bath single-family listed at $530k.

Deal economics

• At list price, monthly cash flow is $-590 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $426k (19.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $331k (37.6% below list).
• Recommended offer: $331k (37.6% below list) — sets the bar for 1% rule.
• Cap rate 5.0% 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: C F Carr El (math 32% / reading 22%, grade F, #2,791 of 4,322 statewide, top 68%, 281 students, 99% FRL); D A Hulcy Steam Middle (math 33% / reading 32%, grade F, #947 of 1,662 statewide, top 58%, 423 students, 88% FRL); L G Pinkston H S (math 10% / reading 21%, grade F, #1,505 of 1,632 statewide, top 92%, 1,139 students, 92% FRL).
• Market conditions: Rents falling (-4.2%/yr); 249 active listings in the ZIP; 39 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 44% of comp listings sitting > 30 days — soft ceiling on asking rent; 12,577 units permitted in Dallas County in 2024 (6,829 in 5+ unit buildings).
• At $3,309/mo this rent would consume 66% of the median local household income ($60k/yr) (locally 892% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $57k of equity ($4k loan paydown + $53k appreciation (10.0% local appreciation)).
• Dallas County population projected at +35% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$91k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 89 days — a 6% lower offer ($498k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago 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.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $330,857 (37.6% 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 89 days. Have you received any prior offers? Is the seller open to a 38% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.62% ✗
• Cap rate: 4.96%
• Cash-on-cash: -4.77%
• DSCR: 0.79
• GRM: 13.3

CMA / ARV

• ARV (median comp): $531,044
• List price: $529,995
• Delta: -0.20%
• 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
1931 Life Ave	0.11mi	3/2.5	2,222 (+3%)	8mo	$407,000	$183	80
4021 Ivanhoe Ln	0.42mi	3/2.5	2,173 (+1%)	4mo	$585,000	$269	72
1822 Bickers St	0.11mi	4/3.0 (+1)	2,280 (+6%)	11mo	$515,000	$226	70
1926 Pueblo St	0.53mi	3/3.5	2,136 (-1%)	9mo	$499,000	$234	66
3502 Vilbig Rd	0.24mi	3/3.0	2,319 (+7%)	11mo	$564,999	$244	65
1720 Morris St	0.37mi	4/2.5 (+1)	2,300 (+6%)	2mo	$599,000	$260	61
3342 Borger St	0.60mi	4/3.0 (+1)	2,089 (-3%)	3mo	$625,000	$299	57
1619 Homeland St	0.26mi	4/2.5 (+1)	2,423 (+12%)	4mo	$454,000	$187	55
1730 Kraft St	0.31mi	3/2.0	1,849 (-14%)	2mo	$425,000	$230	54
1836 Toronto St	0.59mi	4/2.5 (+1)	2,197 (+2%)	12mo	$499,900	$228	51
1508 Nomas St	0.60mi	4/3.0 (+1)	2,409 (+12%)	3mo	$539,000	$224	44
3105 Rutz St	0.63mi	4/2.5 (+1)	2,385 (+10%)	8mo	$609,900	$256	37

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 20.2%
• Equity multiple: 2.62×
• Total profit: $241,142
• Equity at exit: $477,461

10-year hold

• IRR: 17.9%
• Equity multiple: 5.86×
• Total profit: $721,852
• Equity at exit: $1,029,664

Cash invested: $148,399 (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 75212

• Rents YoY: -4.2%
• Active inventory: 249
• Price-to-rent: 13.3×

Monthly cashflow live

• Estimated rent: $3,309 high
• Mortgage (P&I): −$2,779
• Tax from tax record: −$204 /mo · $2,443/yr
• Insurance: −$221
• HOA: −$0
• Vacancy / Maint / Mgmt: −$695
• Net cashflow: $-590

Break-even live

Break-even rent $4,055

Max offer price $425,764

Occupancy floor —

Sensitivity live

Price	-10% $-290	-5% $-440	+0% $-590	+5% $-740	+10% $-890
Rent	-10% $-851	-5% $-721	+0% $-590	+5% $-459	+10% $-329
Rate	-1.0pp $-323	-0.5pp $-455	base $-590	+0.5pp $-727	+1.0pp $-867

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: $132,499
• Closing costs: $15,900
• Reserves months: —
• Total cash needed: —

Rent comps 39 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3807 Vilbig Rd Dallas, TX	3.0	2.5	2000	$5,500	$2.75	45d	1	0.13mi
1916 Shaw St Dallas, TX	4.0	3.0	2283	$2,675	$1.17	22d	1	0.19mi
1723 Shaw St Dallas, TX	4.0	3.0	1720	$2,699	$1.57	9d	1	0.22mi
1610 Life Ave Dallas, TX	3.0	2.5	1657	$2,800	$1.69	45d	1	0.28mi
3525 Rutz St Dallas, TX	3.0	2.5	2451	$4,000	$1.63	9d	1	0.33mi
2043 Life Ave Dallas, TX	3.0	3.0	2545	$3,950	$1.55	1d	1	0.33mi
4022 Ivanhoe Ln Dallas, TX	4.0	2.5	2042	$2,795	$1.37	45d	1	0.41mi
3517 Chicago St Dallas, TX	3.0	3.0	1538	$1,200	$0.78	8d	1	0.44mi
3321 Rutz St Dallas, TX	3.0	2.5	1436	$2,550	$1.78	6d	1	0.47mi
3237 Chihuahua Ave Dallas, TX	4.0	2.5	2251	$4,500	$2.00	45d	1	0.50mi
3226 Navaro St Dallas, TX	3.0	2.0	1547	$2,500	$1.62	45d	1	0.52mi
2322 Tan Oak Dr Dallas, TX	3.0	2.5	1630	$2,500	$1.53	45d	1	0.56mi
3129 Rutz St Unit 1241909P Dallas, TX	4.0	2.5	2098	$9,353	$4.46	24d	1	0.58mi
3129 Rutz St Dallas, TX	4.0	2.5	2102	$7,850	$3.73	45d	1	0.58mi
3122 Chihuahua Ave Unit 1510240P Dallas, TX	4.0	3.0	2174	$5,369	$2.47	1d	1	0.61mi
3105 Chihuahua Ave Dallas, TX	4.0	2.5	2214	$3,200	$1.45	17d	1	0.62mi
4022 Cedar Elm Ln Dallas, TX	4.0	2.5	2860	$2,700	$0.94	26d	1	0.72mi
2815 Harston St Unit 2815 Dallas, TX	3.0	2.5	2800	$3,800	$1.36	12d	1	0.77mi
2811 Harston St Dallas, TX	3.0	2.0	1937	$2,950	$1.52	45d	1	0.78mi
2806 Chicago St Dallas, TX	4.0	3.5	1976	$2,900	$1.47	26d	1	0.87mi
829 Nomas St Dallas, TX	4.0	3.5	2660	$4,500	$1.69	45d	1	0.88mi
2635 Carmelita St Dallas, TX	3.0	3.5	2237	$3,399	$1.52	26d	1	0.89mi
2654 Carolwood Ln Dallas, TX	3.0	3.5	2174	$3,500	$1.61	45d	1	0.89mi
2633 La Altura Ln Dallas, TX	3.0	3.5	2170	$3,650	$1.68	14d	1	0.92mi
1010 Singleton Blvd Unit 1043 Dallas, TX	3.0	2.0	1581	$3,076	$1.95	1d	1	0.92mi
2601 La Altura Ln Dallas, TX	3.0	3.5	2233	$4,200	$1.88	45d	1	0.94mi
1130 Tea Olive Ln Dallas, TX	3.0	2.5	1751	$3,000	$1.71	45d	1	0.95mi
1190 Manacor Ln Dallas, TX	3.0	3.5	1849	$2,999	$1.62	14d	1	0.96mi
1115 Manacor Ln Dallas, TX	3.0	2.5	1827	$3,200	$1.75	26d	1	0.97mi
1040 Tea Olive Ln Dallas, TX	3.0	3.5	2326	$3,800	$1.63	5d	1	0.98mi
1849 Pollard St Dallas, TX	4.0	4.5	2438	$3,995	$1.64	45d	1	1.11mi
909 Bayonne St Dallas, TX	4.0	3.5	2300	$4,300	$1.87	45d	1	1.11mi
937 Muncie Ave Unit 937 Dallas, TX	4.0	5.0	3000	$6,200	$2.07	9d	1	1.11mi
3386 Peyton Lila Rd Dallas, TX	4.0	2.5	1739	$2,350	$1.35	45d	1	1.19mi
3232 Peyton Lila Rd Dallas, TX	4.0	2.5	2000	$2,495	$1.25	9d	1	1.23mi
1293 Clifftop Ln Dallas, TX	2.0	2.5	1411	$2,900	$2.06	45d	1	1.25mi
1031 Mobile St Dallas, TX	3.0	3.5	2763	$5,150	$1.86	45d	1	1.38mi
718 Fort Worth Ave Dallas, TX	3.0	3.0	1452	$2,672	$1.84	24d	1	1.49mi
718 Fort Worth Ave Dallas, TX	3.0	3.0	1452	$2,672	$1.84	14d	1	1.49mi

Listing history 18 events

1. 2026-05-31
   days on market $529,995 Active 89 DOM
2. 2026-03-15
   price $529,995 1031-char remark

   Show marketing remark (1031 chars)

   Located in the heart of Dallas near the vibrant Trinity Groves district, 1902 Homeland St offers sophisticated three-level contemporary living designed for both comfort and style. This luxury residence features three spacious bedrooms, each with its own private ensuite bath, plus a convenient half bath for guests. The open-concept main living area is filled with natural light from expansive windows and showcases clean architectural lines, high ceilings, and designer finishes throughout. The sleek, modern kitchen is ideal for entertaining, complete with premium finishes, custom cabinetry, and an oversized island that anchors the space. The third-level primary suite serves as a private retreat with a spa-inspired bathroom and generous closet space. With an attached garage and a functional multi-level layout offering privacy and flexibility, this home delivers a refined, low-maintenance lifestyle just minutes from Downtown Dallas, premier dining, entertainment, and major highways. ASK AGENT ABOUT SELLER CONCESSIONS.

3. 2026-03-03
   listed $530,000 Active 1031-char remark

   Show marketing remark (1031 chars)

   Located in the heart of Dallas near the vibrant Trinity Groves district, 1902 Homeland St offers sophisticated three-level contemporary living designed for both comfort and style. This luxury residence features three spacious bedrooms, each with its own private ensuite bath, plus a convenient half bath for guests. The open-concept main living area is filled with natural light from expansive windows and showcases clean architectural lines, high ceilings, and designer finishes throughout. The sleek, modern kitchen is ideal for entertaining, complete with premium finishes, custom cabinetry, and an oversized island that anchors the space. The third-level primary suite serves as a private retreat with a spa-inspired bathroom and generous closet space. With an attached garage and a functional multi-level layout offering privacy and flexibility, this home delivers a refined, low-maintenance lifestyle just minutes from Downtown Dallas, premier dining, entertainment, and major highways. ASK AGENT ABOUT SELLER CONCESSIONS.

4. 2025-06-05
   historical
5. 2025-05-16
   price $489,000
6. 2025-05-06
   price $499,000
7. 2025-04-21
   price $515,000
8. 2025-04-17
   price $528,900
9. 2025-04-04
   listed $535,000 Active
10. 2024-10-02
    soldstatus Closed
11. 2024-10-02
    soldstatus
12. 2024-10-02
    soldstatus
13. 2024-09-18
    status Pending
14. 2024-09-13
    price $59,900
15. 2024-08-14
    price $89,900
16. 2024-05-01
    listed $99,900 Active
17. 2021-01-11
    soldstatus
18. 2012-07-06
    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: $2,443 · $204/mo
• Projected year-2 tax: $9,699 · $808/mo
• Expected delta: +$7,256/yr (+$605/mo · 296.9%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥109°F today · 24 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $39,703
• − Mortgage interest: −$29,688
• − Property taxes: −$2,443
• − Insurance: −$2,650
• − Repairs & maintenance: −$3,176
• − Management: −$3,176
• − Depreciation: −$15,418
• Taxable loss: −$16,849
• Est. tax savings @ 24.0%: +$4,044
• After-tax cash flow: $-3,037/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): 28,259
• Household income: $59,750
• Rent vs Own: 43.6% rent · 56.4% own
• Severe rent burden: 892.0

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 (67%)
• Race & ethnicity: Hispanic / Latino 67% Two or more races 26% Black 23% White 6% Asian 2%
• Hispanic origin (detail): Mexican 55%
• Common ancestry: Slovak 1%
• Foreign-born: 27% · Canada, Vietnam, Jamaica
• Languages at home: 42% English-only · Spanish 52% Vietnamese 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: ▲ 138.69%
• Current HPI: 477.2035
• Rent YoY: ▼ -4.21%
• 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

+430.5% since first listed

17 events — show timeline

• 2026-03-15 Price Changed $529,995 NTREIS
• 2026-03-03 Listed $530,000 NTREIS
• 2025-06-05 Listing Removed — NTREIS
• 2025-05-16 Price Changed $489,000 NTREIS
• 2025-05-06 Price Changed $499,000 NTREIS
• 2025-04-21 Price Changed $515,000 NTREIS
• 2025-04-17 Price Changed $528,900 NTREIS
• 2025-04-04 Listed $535,000 NTREIS
• 2024-10-02 Sold (Public Records) — Public Records
• 2024-10-02 Sold (Public Records) — Public Records
• 2024-10-02 Sold (MLS) — NTREIS
• 2024-09-18 Pending — NTREIS
• 2024-09-13 Price Changed $59,900 NTREIS
• 2024-08-14 Price Changed $89,900 NTREIS
• 2024-05-01 Listed $99,900 NTREIS
• 2021-01-11 Sold (Public Records) — Public Records
• 2012-07-06 Sold (Public Records) — Public Records

Property tax history

+20.1%/yr

Latest (2025): $2,443 · +30.7% YoY. Source: county tax records.