905 Glen Vista Dr N

Irving, TX 75061

$239,900C-

4 bd · 2.0 ba · 2,036 sqft · Built 1964 · SingleFamily · Pending · 11 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,720/mo
• Mortgage (P&I): −$1,258
• Tax + insurance: −$816
• HOA: −$0
• Vac / Maint / Mgmt: −$571
• Net cashflow: $74/mo
• Annual: $891/yr
• Cap rate: 6.66%
• Cash-on-cash: 1.33%
• DSCR: 1.06
• 1% rule: 1.13%
• Cash to close: $67,172

Investor read

• This is a 4-bed/2.0-bath single-family listed at $240k.
• At list price, monthly cash flow is $74 ($891/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $240k).
• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 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.
• Location reads 80/100 on livability (#45 in TX, #1,913 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: amenities C-.
• Irving ISD (urban): math 19% / reading 25% proficiency, ranked #751 of 826 in TX (top 91%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Lively El (math 12% / reading 15%, grade F, #4,138 of 4,322 statewide, top 96%, 779 students, 89% FRL); Lorenzo De Zavala Middle (math 30% / reading 32%, grade F, #1,015 of 1,662 statewide, top 62%, 853 students, 86% FRL); Irving H S (math 21% / reading 25%, grade F, #1,348 of 1,632 statewide, top 83%, 2,519 students, 86% FRL).
• Watch-outs: property tax is 3.6% of price.
• Market conditions: Rents flat; 104 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 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.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.7% vs local median 2.6% in Irving — 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.
• At $2,720/mo this rent would consume 51% of the median local household income ($64k/yr) (locally 2930% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.
• 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.