5530 Reiger Ave #5528 · Dallas, TX 75214

$525,000

6 bd · 4.0 ba · 3,230 sqft · MultiFamily · 87 Days on market

Built 1927 Good condition 10,716 sqft lot $163/sqft · 15% below area Est $619k · 15% under ↓ 8% since listing

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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 +20.6/30.0
• ARV discount +14.3/15.0
• DSCR +6.6/10.0
• 1% rule +5.4/10.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• Rent growth +3.0/5.0
• Schools +2.8/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Remodeled duplex in Old East Dallas with strong investment potential. Features include a brick exterior, large backyard with wooden deck, and two fully updated units. Each unit offers 3 bedrooms, 2 bathrooms, private utilities, and in-unit laundry. Recent renovations include new roof, plumbing, and foundation. Priced and positioned for investors or owner-occupants seeking turnkey value. To help visualize this homes floor plan and to highlight its potential virtual furnishings may have been added to photos found in this listing.

Key facts

• Brick exterior
• Fully updated units
• Large backyard

Tags

• BRICK EXTERIOR
• LARGE BACKYARD
• WOODEN DECK
• FULLY UPDATED UNITS
• PRIVATE UTILITIES
• IN-UNIT LAUNDRY

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $525k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $703 ($8k/yr) — positive. Per door: $352/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $525k).
• Recommended offer: $494k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.9% 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: schools C-, 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.
• Market conditions: Rents rising (+1.8%/yr); 274 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 12,577 units permitted in Dallas County in 2024 (6,829 in 5+ unit buildings).
• At $5,483/mo this rent would consume 50% of the median local household income ($132k/yr) (locally 1464% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $16k 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 87 days — a 6% lower offer ($494k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1927 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: 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 $493,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 87 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1927 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.04% ✓
• Cap rate: 7.90%
• Cash-on-cash: 5.74%
• DSCR: 1.26
• GRM: 8.0

CMA / ARV

• ARV (median comp): $618,917
• List price: $525,000
• Delta: -15.17%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4814 Reiger Ave	0.61mi	5/4.0 (-1)	3,188 (-1%)	17mo	$750,000	$235	50

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 · 1.82% rent growth · sell at horizon

5-year hold

• IRR: -8.7%
• Equity multiple: 0.68×
• Total profit: $-46,624
• Equity at exit: $78,279

10-year hold

• IRR: -0.9%
• Equity multiple: 0.94×
• Total profit: $-8,358
• Equity at exit: $45,392

Cash invested: $147,000 (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 75214

• Rents YoY: 1.8%
• Active inventory: 274
• Price-to-rent: 16.0×

Monthly cashflow live

• Estimated rent: $5,483 high
• Mortgage (P&I): −$2,753
• Tax est. 1.5%: −$656 /mo · $7,875/yr
• Insurance: −$219
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,151
• Net cashflow: $703

Break-even live

Break-even rent $4,593

Max offer price $525,000

Occupancy floor 82%

Sensitivity live

Price	-10% $1,066	-5% $885	+0% $703	+5% $522	+10% $341
Rent	-10% $270	-5% $487	+0% $703	+5% $920	+10% $1,137
Rate	-1.0pp $968	-0.5pp $837	base $703	+0.5pp $567	+1.0pp $429

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$5,484
Total (2 units)			$5,483

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: $131,250
• Closing costs: $15,750
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6028 Richmond Ave Dallas, TX	5.0	5.5	4300	$14,000	$3.26	44d	1	0.98mi
6255 Belmont Ave Dallas, TX	5.0	5.5	3397	$8,750	$2.58	8d	1	1.07mi
2018 Euclid Ave Dallas, TX	6.0	4.0	4291	$10,500	$2.45	21d	1	1.27mi

Listing history 13 events

1. 2026-06-15
   status $525,000 Pending 87 DOM
2. 2026-06-15
   days on market $525,000 Active 87 DOM
3. 2026-06-13
   days on market $525,000 Active 85 DOM
4. 2026-06-09
   days on market $525,000 Active 81 DOM
5. 2026-06-08
   days on market $525,000 Active 80 DOM
6. 2026-06-07
   days on market $525,000 Active 79 DOM
7. 2026-06-04
   days on market $525,000 Active 76 DOM
8. 2026-06-03
   days on market $525,000 Active 75 DOM
9. 2026-06-02
   days on market $525,000 Active 74 DOM
10. 2026-06-02
    days on market $525,000 Active 73 DOM
11. 2026-05-31
    days on market $525,000 Active 72 DOM
12. 2026-04-18
    price $549,950 533-char remark

    Show marketing remark (533 chars)

    Remodeled duplex in Old East Dallas with strong investment potential. Features include a brick exterior, large backyard with wooden deck, and two fully updated units. Each unit offers 3 bedrooms, 2 bathrooms, private utilities, and in-unit laundry. Recent renovations include new roof, plumbing, and foundation. Priced and positioned for investors or owner-occupants seeking turnkey value. To help visualize this homes floor plan and to highlight its potential virtual furnishings may have been added to photos found in this listing.

13. 2026-03-19
    listed $599,900 Active 533-char remark

    Show marketing remark (533 chars)

    Remodeled duplex in Old East Dallas with strong investment potential. Features include a brick exterior, large backyard with wooden deck, and two fully updated units. Each unit offers 3 bedrooms, 2 bathrooms, private utilities, and in-unit laundry. Recent renovations include new roof, plumbing, and foundation. Priced and positioned for investors or owner-occupants seeking turnkey value. To help visualize this homes floor plan and to highlight its potential virtual furnishings may have been added to photos found in this listing.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 · 24 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $65,796
• − Mortgage interest: −$29,408
• − Property taxes: −$7,875
• − Insurance: −$2,625
• − Repairs & maintenance: −$5,264
• − Management: −$5,264
• − Depreciation: −$15,273
• Taxable income: $88
• Est. tax owed @ 24.0%: −$21
• After-tax cash flow: $8,420/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.

Condition & rehab AI · 6 photos

Good 80/100 Cosmetic rehab

This remodeled duplex in Old East Dallas offers strong investment potential with updated interiors and a well-maintained exterior. Recent renovations include new roof, plumbing, and foundation, making it a turnkey opportunity for investors or owner-occupants.

Value-add opportunities

• Both Painting exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Both Landscaping and curb appeal improvements — Enhances curb appeal and can attract more potential buyers
• Both Add smart home features — Improves convenience and can increase property value
• Both Install energy-efficient windows — Reduces energy costs and enhances property value
• Both Upgrade HVAC system — Improves comfort and energy efficiency

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Landscaping and curb appeal improvements — Enhances curb appeal and can attract more potential buyers ↑
• Both Add smart home features — Improves convenience and can increase property value ↑
• Both Install energy-efficient windows — Reduces energy costs and enhances property value ↑
• Both Upgrade HVAC system — Improves comfort and energy efficiency ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 34,274
• Household income: $132,313
• Rent vs Own: 40.2% rent · 59.8% own
• Severe rent burden: 1464.0

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 White (71%)
• Race & ethnicity: White 71% Hispanic / Latino 16% Two or more races 9% Black 7% Asian 2%
• Hispanic origin (detail): Mexican 11% Puerto Rican 1%
• Common ancestry: Slovak 3% Italian 3% Serbian 3%
• Foreign-born: 9% · Canada, China
• Languages at home: 85% English-only · Spanish 12% Other Indo-European 1% French/Haitian/Cajun 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: ▼ -988.15%
• Current HPI: 320.9124
• Rent YoY: ▲ 1.82%
• 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

-8.3% since first listed

2 events — show timeline

• 2026-04-18 Price Changed $549,950 NTREIS
• 2026-03-19 Listed $599,900 NTREIS