515 Elkhart Ave · Dallas, TX 75217

$217,700

3 bd · 1.0 ba · 1,066 sqft · SingleFamily public records · 64 Days on market

Built 1955 7,231 sqft lot $204/sqft · 8% below area Est $236k · 8% 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).

• Cash flow +12.4/30.0
• ARV discount +11.0/15.0
• Livability +4.0/5.0
• DSCR +3.7/10.0
• 1% rule +3.5/10.0
• Rent growth +2.8/5.0
• Schools +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Great opportunity for a first-time homebuyer to have a fully renovated home. This nicely updated home features a totally new kitchen that has been fully redone with new cabinets and opens to the living area. It's freshly painted and has new flooring throughout. The major updates include a new roof and energy-efficient HVAC system with heat pump. The large backyard offers plenty of space, with a new wood fence and alley access on two sides. There’s also a partially shaded patio for outdoor use. Located half block from the nearby elementary school. (Garage conversion may not be included in county square footage. )

Key facts

• New kitchen
• Fully renovated home
• Large backyard

Tags

• FULLY RENOVATED HOME
• NEW KITCHEN
• NEW ROOF
• ENERGY EFFICIENT HVAC SYSTEM
• LARGE BACKYARD
• NEW WOOD FENCE

Property features AI

Finance

• Other: Property listed as for sale with standard listing conditions; Possession at closing/funding
• Financial info: Listing accepts Cash, FHA, owner-carry/second, and private financing
• HOA & community: No homeowners association

Exterior

• Parking: Concrete driveway
• Security: Audio and video surveillance devices present
• Utilities: City water; City sewer; Electricity connected; Natural gas available; Cable available
• Home design: Single-family residence; One story; Residential property
• Construction: Built in 1955; Wood construction; Composition roof
• Exterior features: Large backyard with grass; Patio; Chain link and wood fencing; Alley access

Interior

• Kitchen: Gas range; Microwave; Dishwasher; Garbage disposal; Gas water heater
• Bedrooms: Three bedrooms (all on the main level); Primary bedroom approx. 12 x 11; Second primary bedroom approx. 12 x 11; Third bedroom approx. 13 x 10
• Flooring: Carpet; Vinyl
• Bathrooms: One full bathroom
• Heating & cooling: Central heating (electric, heat pump); Central air conditioning (electric, heat pump)
• Interior features: Pantry; One living area; One dining area; Total of 6 rooms
• Laundry & utility: Individual water meter; Individual gas meter

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $218k.

Deal economics

• At list price, monthly cash flow is $-34 ($-413/yr) — negative.
• To cash-flow at today's rent, offer at most $212k (2.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $185k (14.9% below list).
• Recommended offer: $185k (14.9% below list) — sets the bar for 1% rule.
• Cap rate 6.1% 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: Rufus C Burleson El (math 37% / reading 28%, grade F, #2,234 of 4,322 statewide, top 52%, 506 students, 98% FRL); E B Comstock Middle (math 17% / reading 18%, grade F, #1,507 of 1,662 statewide, top 91%, 683 students, 98% FRL); H Grady Spruce H S (math 21% / reading 18%, grade F, #1,424 of 1,632 statewide, top 88%, 1,558 students, 96% FRL).
• Market conditions: Rents rising (+1.0%/yr); 203 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 weeks tenant-placement turnaround); 12,577 units permitted in Dallas County in 2024 (6,829 in 5+ unit buildings).
• This rent runs 40% of the median local income ($56k/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 $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 64 days — a 6% lower offer ($205k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $31k; list at $218k implies a 604% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $185,203 (14.9% 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 64 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
3. Built in 1955 — 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: 0.85% ✗
• Cap rate: 6.10%
• Cash-on-cash: -0.68%
• DSCR: 0.97
• GRM: 9.8

CMA / ARV

• ARV (median comp): $236,040
• List price: $217,700
• Delta: -7.77%
• 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
547 Helena St	0.15mi	3/1.0	982 (-8%)	6mo	$230,000	$234	75
609 Woodmont Dr	0.50mi	3/2.0	1,028 (-4%)	2mo	$227,900	$222	65
6340 Bellbrook Dr	0.32mi	3/1.0	1,144 (+7%)	13mo	$99,900	$87	62
559 Helena St	0.17mi	3/2.0	1,178 (+10%)	12mo	$257,500	$219	61
6818 Oleta Dr	0.73mi	3/1.0	1,027 (-4%)	10mo	$198,000	$193	51
6520 Godfrey Ave	0.60mi	3/2.0	1,127 (+6%)	9mo	$219,999	$195	51
548 Ezekial Ave	0.24mi	3/2.0	1,222 (+15%)	12mo	$151,000	$124	50
535 Alcorn Ave	0.54mi	3/1.0	953 (-11%)	11mo	$210,000	$220	48
6526 Oleta Dr	0.59mi	2/2.0 (-1)	986 (-8%)	5mo	$119,900	$122	47
6721 Oleta Dr	0.65mi	3/1.5	1,188 (+11%)	4mo	$145,000	$122	45
433 Alcorn Ave	0.57mi	3/1.5	1,192 (+12%)	9mo	$174,950	$147	44
7011 Antler Ave	0.73mi	3/1.5	1,200 (+13%)	13mo	$125,000	$104	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 · 1.02% rent growth · sell at horizon

5-year hold

• IRR: -19.6%
• Equity multiple: 0.33×
• Total profit: $-41,064
• Equity at exit: $32,460

10-year hold

• IRR: -17.2%
• Equity multiple: 0.13×
• Total profit: $-52,754
• Equity at exit: $18,823

Cash invested: $60,956 (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 75217

• Home prices YoY: -4.3%
• Rents YoY: 1.0%
• Active inventory: 203
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,852 high
• Mortgage (P&I): −$1,142
• Tax from tax record: −$265 /mo · $3,182/yr
• Insurance: −$91
• HOA: −$0
• Vacancy / Maint / Mgmt: −$389
• Net cashflow: $-34

Break-even live

Break-even rent $1,896

Max offer price $211,618

Occupancy floor 97%

Sensitivity live

Price	-10% $89	-5% $27	+0% $-34	+5% $-96	+10% $-158
Rent	-10% $-181	-5% $-108	+0% $-34	+5% $39	+10% $112
Rate	-1.0pp $75	-0.5pp $21	base $-34	+0.5pp $-91	+1.0pp $-148

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: $54,425
• Closing costs: $6,531
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
332 Ezekial Ave Dallas, TX	3.0	2.5	1347	$1,838	$1.36	3d	1	0.26mi
328 Ezekial Ave Dallas, TX	3.0	2.5	1347	$2,098	$1.56	8d	1	0.26mi
146 Creek Cove Dr Dallas, TX	3.0	2.5	1347	$1,773	$1.32	45d	1	0.41mi
130 Creek Cove Dr Dallas, TX	3.0	2.5	1347	$1,873	$1.39	26d	1	0.43mi
220 Stoneport Dr Dallas, TX	2.0–4.0	2.0	1062	$1,518	$1.43	7d	13	0.44mi
758 Bethpage Ave Dallas, TX	4.0	2.0	1484	$1,975	$1.33	9d	1	0.47mi
445 Bolero Ave Dallas, TX	3.0	2.0	1200	$1,900	$1.58	9d	1	0.59mi
6415 Godfrey Ave Dallas, TX	2.0	1.0	751	$1,435	$1.91	3d	1	0.61mi
6811 Marla Dr Dallas, TX	3.0	2.0	1070	$1,850	$1.73	3d	1	0.62mi
119 Palm Oak Dr Dallas, TX	3.0	1.5	1401	$2,000	$1.43	8d	1	0.77mi
7250 Elam Rd Dallas, TX	1.0–3.0	1.0–2.0	724	$1,612	$2.23	4d	9	0.80mi
121 N Jim Miller Rd Unit 121 Dallas, TX	3.0	2.0	1169	$1,175	$1.01	9d	1	0.84mi
7203 Great Trinity Forest Way Dallas, TX	2.0	1.0	850	$1,114	$1.31	45d	1	1.03mi
1355 N Jim Miller Rd Unit 121 Dallas, TX	3.0	1.5	1169	$1,250	$1.07	4d	1	1.26mi
1355 N Jim Miller Rd Unit 23 Dallas, TX	2.0	1.5	953	$1,100	$1.15	4d	1	1.26mi
7514 Olusta Dr Dallas, TX	2.0	1.0	862	$1,395	$1.62	19d	1	1.33mi
7516 Olusta Dr Unit 7514 Dallas, TX	2.0	1.0	862	$1,395	$1.62	26d	1	1.33mi

Listing history 17 events

1. 2026-06-21
   days on market $217,700 Active 64 DOM
2. 2026-06-18
   days on market $217,700 Active 61 DOM
3. 2026-06-17
   days on market $217,700 Active 60 DOM
4. 2026-06-16
   days on market $217,700 Active 59 DOM
5. 2026-06-15
   days on market $217,700 Active 58 DOM
6. 2026-06-13
   days on market $217,700 Active 56 DOM
7. 2026-06-09
   days on market $217,700 Active 52 DOM
8. 2026-06-08
   days on market $217,700 Active 51 DOM
9. 2026-06-07
   days on market $217,700 Active 50 DOM
10. 2026-06-04
    days on market $217,700 Active 47 DOM
11. 2026-06-03
    days on market $217,700 Active 46 DOM
12. 2026-06-02
    days on market $217,700 Active 45 DOM
13. 2026-06-01
    days on market $217,700 Active 44 DOM
14. 2026-05-31
    days on market $217,700 Active 43 DOM
15. 2026-04-17
    listed $217,700 Active 625-char remark
16. 2005-11-17
    soldstatus
17. 2003-01-22
    soldstatus $30,920

ⓘ 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: $3,182 · $265/mo
• Projected year-2 tax: $3,984 · $332/mo
• Expected delta: +$802/yr (+$67/mo · 25.2%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥110°F today · 27 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: $22,224
• − Mortgage interest: −$12,195
• − Property taxes: −$3,182
• − Insurance: −$1,088
• − Repairs & maintenance: −$1,778
• − Management: −$1,778
• − Depreciation: −$6,333
• Taxable loss: −$4,130
• Est. tax savings @ 24.0%: +$991
• After-tax cash flow: $578/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): 85,028
• Household income: $55,723
• Rent vs Own: 37.2% rent · 62.8% own
• Severe rent burden: 2649.0

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 (73%)
• Race & ethnicity: Hispanic / Latino 73% Two or more races 34% Black 20% White 6%
• Hispanic origin (detail): Mexican 68%
• Foreign-born: 30% · Canada, Philippines
• Languages at home: 34% English-only · Spanish 65% Other Asian/Pacific 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: ▼ -17.04%
• Current HPI: 382.5527
• Rent YoY: ▲ 1.02%
• 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

+604.1% since first listed

3 events — show timeline

• 2026-04-17 Listed $217,700 NTREIS
• 2005-11-17 Sold (Public Records) — Public Records
• 2003-01-22 Sold (Public Records) $30,920 Public Records

Property tax history

+11.4%/yr

Latest (2025): $3,182 · +68.7% YoY. Source: county tax records.