2414 Merlin St · Dallas, TX 75215

$299,900

3 bd · 2.5 ba · 1,832 sqft · SingleFamily · 110 Days on market

Built 2025 Good condition $164/sqft · 16% below area Est $355k · 16% under

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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 +14.6/30.0
• ARV discount +14.5/15.0
• Appreciation +5.4/10.0
• DSCR +4.4/10.0
• Rent growth +4.3/5.0
• 1% rule +4.0/10.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• Schools +2.1/10.0

Listing remarks MLS

Beautiful contemporary duplex in the newly developed community of Jefferies-Meyers right in the heart of Sunny South Dallas! This gorgeous home features an open concept layout and tons of builder upgrades that are sure to please the most discerning of buyers. The kitchen has waterfall granite countertops, stainless steel appliance and a large kitchen island. Throughout the home you have vinyl wood flooring with ceramic tile in the bathrooms. If having an outdoor escape is important to you this home also comes with a private balcony perfect for enjoying the Dallas skyline. Conveniently located near Fair Park with easy access to multiple major highways - I-30, I-75, I-35S, Dallas North Tollway - and just a hop, skip and jump away from a number of highly ranked bars, restaurants and event centers like the American Airlines Center, the House of Blues and the factory just to name a few!!!

Key facts

• Large kitchen island
• Vinyl wood flooring
• Ceramic tile

Tags

• OPEN CONCEPT LAYOUT
• WATERFALL GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCE
• LARGE KITCHEN ISLAND
• VINYL WOOD FLOORING
• CERAMIC TILE

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $300k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $71 ($848/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $271k (9.5% below list).
• Recommended offer: $271k (9.5% below list) — sets the bar for 1% rule.
• Cap rate 6.6% 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: Dr Martin Luther King Jr Arts Academy (math 27% / reading 37%, grade F, #2,268 of 4,322 statewide, top 55%, 452 students, 93% 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).
• Market conditions: Rents rising fast (+7.2%/yr); 318 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 41d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% 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 $2,713/mo this rent would consume 71% of the median local household income ($46k/yr) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $4k of equity ($2k loan paydown + $2k appreciation (0.8% local appreciation)).
• Dallas County population projected at +35% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (0.8% appreciation + 7.2% rent growth), your $84k cash investment doubles in ~8 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 110 days — a 9% lower offer ($273k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask is 5% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $271,292 (9.5% below list)

Questions for the listing agent

1. It's been on market 110 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 0.90% ✗
• Cap rate: 6.58%
• Cash-on-cash: 1.01%
• DSCR: 1.04
• GRM: 9.2

CMA / ARV

• ARV (median comp): $354,998
• List price: $299,900
• Delta: -15.52%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2416 Merlin St	0.00mi	3/2.5	1,723 (-6%)	5mo	$285,000	$165	86
2433 Jeffries St	0.05mi	3/2.5	1,636 (-11%)	4mo	$285,000	$174	76
2422 Jeffries St	0.06mi	3/2.5	2,069 (+13%)	2mo	$399,000	$193	74
2424 Jeffries St	0.07mi	3/2.5	2,069 (+13%)	3mo	$399,000	$193	73
2022 Bourbon St	0.22mi	4/2.0 (+1)	1,950 (+6%)	6mo	$119,500	$61	66
2620 Peabody Ave	0.65mi	3/3.5	1,850 (+1%)	5mo	$345,000	$186	60
2718 South Blvd	0.49mi	3/2.0	2,038 (+11%)	0mo	$265,000	$130	56
2524 Peabody Ave	0.69mi	3/2.5	1,707 (-7%)	1mo	$345,000	$202	56
2823 South Blvd	0.43mi	3/3.5	1,601 (-13%)	2mo	$199,500	$125	53
2616 Peabody Ave	0.65mi	3/3.5	1,690 (-8%)	3mo	$345,000	$204	50
2512 Peabody Ave	0.70mi	3/3.5	1,700 (-7%)	4mo	$355,000	$209	48
3113 Pennsylvania Ave	0.71mi	4/2.0 (+1)	1,658 (-10%)	4mo	$200,000	$121	41

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

Projected returns pro-forma

0.79% appreciation · 7.19% rent growth · sell at horizon

5-year hold

• IRR: 4.4%
• Equity multiple: 1.23×
• Total profit: $18,989
• Equity at exit: $99,104

10-year hold

• IRR: 11.6%
• Equity multiple: 2.53×
• Total profit: $128,386
• Equity at exit: $129,203

Cash invested: $83,972 (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 →

Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 16 active · 16 under contract
• Months of supply: 3.8 mo (26%/mo absorbed)
• Median asking: $322,000 ($198/sqft)
• Median days on market: 56 d
• This list price: 19% of active listings are priced below it
• ARV vs active asking: -2.2% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 75215

• Home prices YoY: 0.3%
• Rents YoY: 7.2%
• Active inventory: 318
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $2,713 high
• Mortgage (P&I): −$1,573
• Tax est. 1.5%: −$375 /mo · $4,498/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$570
• Net cashflow: $71

Break-even live

Break-even rent $2,623

Max offer price $299,900

Occupancy floor 92%

Sensitivity live

Price	-10% $278	-5% $174	+0% $71	+5% $-33	+10% $-137
Rent	-10% $-144	-5% $-36	+0% $71	+5% $178	+10% $285
Rate	-1.0pp $222	-0.5pp $147	base $71	+0.5pp $-7	+1.0pp $-86

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: $74,975
• Closing costs: $8,997
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2406 Merlin St Dallas, TX	3.0	2.5	2004	$2,500	$1.25	56d	1	0.04mi
2408 Meyers St Unit 204 Dallas, TX	2.0	1.0	2375	$770	$0.32	52d	1	0.14mi
3230 Elihu St #2 Dallas, TX	2.0	3.5	1400	$2,300	$1.64	93d	1	0.46mi
3230 Elihu St #5 Dallas, TX	2.0	3.5	1400	$2,700	$1.93	93d	1	0.46mi
2900 Canton St Dallas, TX	1.0–2.0	1.0–2.0	1029	$2,655	$2.58	0d	19	0.64mi
4003 Commerce St Dallas, TX	3.0	1.0–3.0	1274	$8,873	$6.96	0d	148	0.65mi
3900 Commerce St Dallas, TX	3.0	1.0–2.0	1217	$3,925	$3.22	0d	10	0.69mi
1874 Beaumont St Dallas, TX	4.0	5.0	2578	$4,900	$1.90	93d	1	0.70mi
835 S Good Latimer Expy Dallas, TX	1.0–2.0	1.0–2.0	1205	$2,700	$2.24	0d	21	0.71mi
2910 Birmingham Ave Dallas, TX	4.0	2.0	2050	$1,999	$0.98	18d	1	0.73mi
3131 Main St Dallas, TX	2.0	1.0–2.0	989	$3,353	$3.39	0d	22	0.74mi
1110 S Cesar Chavez Blvd Dallas, TX	3.0	1.0–3.0	1127	$2,669	$2.37	37d	43	0.77mi
2505 Birmingham Ave Dallas, TX	3.0	2.5	1516	$2,500	$1.65	38d	1	0.78mi
2507 Birmingham Ave Dallas, TX	3.0	2.5	1516	$2,500	$1.65	73d	1	0.78mi
1900 S Ervay St Dallas, TX	2.0	3.0	1302	$3,700	$2.84	93d	1	0.80mi
1625 Hickory St Unit 105 Dallas, TX	2.0	2.5	2046	$3,190	$1.56	28d	1	0.84mi
1625 Hickory St Unit 105 Dallas, TX	2.0	2.5	2046	$3,190	$1.56	36d	1	0.84mi
2210 Canton St Dallas, TX	1.0–2.0	1.0–2.0	1138	$2,309	$2.03	0d	57	0.86mi
3308 Birmingham Ave Unit 08 Dallas, TX	2.0	2.5	1287	$2,125	$1.65	4d	1	0.87mi
3308 Birmingham Ave Unit 08 Dallas, TX	2.0	2.5	1287	$2,125	$1.65	21d	1	0.87mi
3308 Birmingham Ave Unit 9 Dallas, TX	2.0	2.5	1287	$2,125	$1.65	43d	1	0.87mi
3308 Birmingham Ave Unit 6 Dallas, TX	2.0	2.5	1341	$2,175	$1.62	21d	1	0.87mi
3308 Birmingham Ave Unit 03 Dallas, TX	2.0	2.5	1451	$2,275	$1.57	93d	1	0.87mi
3308 Birmingham Ave Unit 6 Dallas, TX	2.0	2.5	1341	$2,175	$1.62	66d	1	0.87mi
3308 Birmingham Ave Unit 7 Dallas, TX	2.0	2.5	1287	$2,125	$1.65	64d	1	0.87mi
3308 Birmingham Ave Unit 1 Dallas, TX	2.0	2.5	1451	$2,275	$1.57	73d	1	0.87mi
3308 Birmingham Ave Unit 11 Dallas, TX	2.0	2.5	1505	$2,375	$1.58	93d	1	0.87mi
2901 Indiana Blvd Dallas, TX	2.0	1.0–2.0	950	$2,080	$2.19	0d	29	0.88mi
1512 Seegar St Unit 1508 Dallas, TX	3.0	3.5	2003	$3,250	$1.62	93d	1	0.88mi
1512 Seegar St Dallas, TX	3.0	3.5	1966	$2,895	$1.47	0d	9	0.88mi
1011 S Pearl Expy Dallas, TX	1.0–3.0	1.0–2.0	1035	$2,288	$2.21	63d	1	0.89mi
1508 Seegar St Dallas, TX	3.0	3.5	1966	$3,124	$1.59	64d	9	0.89mi
1805 Browder St Unit 1019612P Dallas, TX	3.0	3.0	2357	$6,673	$2.83	0d	1	0.97mi
1805 Browder St Unit 1019614P Dallas, TX	3.0	3.5	2357	$5,045	$2.14	41d	1	0.97mi
1805 Browder St #103 Dallas, TX	3.0	3.5	2358	$8,000	$3.39	93d	1	0.97mi
3502 Edgewood St Dallas, TX	4.0	2.0	1866	$2,263	$1.21	0d	1	0.98mi
2531 Elm St Dallas, TX	3.0	3.0	1732	$4,616	$2.67	71d	1	0.99mi
2531 Elm St Dallas, TX	3.0	3.0	1732	$4,616	$2.67	68d	1	0.99mi
2525 Elm St Dallas, TX	3.0	1.0–3.0	1175	$3,982	$3.39	0d	36	1.00mi
1552 Cosette Dr Dallas, TX	2.0	2.5	2097	$3,355	$1.60	37d	1	1.00mi

Listing history 50 events

1. 2026-08-08
   days on market $299,900 Active 110 DOM
2. 2026-08-06
   days on market $299,900 Active 108 DOM
3. 2026-08-05
   days on market $299,900 Active 107 DOM
4. 2026-08-04
   days on market $299,900 Active 106 DOM
5. 2026-07-31
   days on market $299,900 Active 102 DOM
6. 2026-07-30
   days on market $299,900 Active 100 DOM
7. 2026-07-28
   days on market $299,900 Active 99 DOM
8. 2026-07-26
   days on market $299,900 Active 97 DOM
9. 2026-07-24
   days on market $299,900 Active 95 DOM
10. 2026-07-23
    days on market $299,900 Active 94 DOM
11. 2026-07-22
    days on market $299,900 Active 93 DOM
12. 2026-07-20
    days on market $299,900 Active 91 DOM
13. 2026-07-18
    days on market $299,900 Active 89 DOM
14. 2026-07-18
    days on market $299,900 Active 88 DOM
15. 2026-07-16
    days on market $299,900 Active 87 DOM
16. 2026-07-15
    days on market $299,900 Active 86 DOM
17. 2026-07-14
    days on market $299,900 Active 85 DOM
18. 2026-07-13
    days on market $299,900 Active 84 DOM
19. 2026-07-13
    days on market $299,900 Active 83 DOM
20. 2026-07-11
    days on market $299,900 Active 82 DOM
21. 2026-07-10
    days on market $299,900 Active 81 DOM
22. 2026-07-09
    days on market $299,900 Active 80 DOM
23. 2026-07-07
    days on market $299,900 Active 78 DOM
24. 2026-07-06
    days on market $299,900 Active 77 DOM
25. 2026-07-06
    days on market $299,900 Active 76 DOM
26. 2026-07-05
    days on market $299,900 Active 75 DOM
27. 2026-07-03
    days on market $299,900 Active 74 DOM
28. 2026-07-02
    days on market $299,900 Active 73 DOM
29. 2026-07-01
    days on market $299,900 Active 72 DOM
30. 2026-06-30
    days on market $299,900 Active 71 DOM
31. 2026-06-29
    days on market $299,900 Active 70 DOM
32. 2026-06-28
    days on market $299,900 Active 69 DOM
33. 2026-06-27
    days on market $299,900 Active 68 DOM
34. 2026-06-26
    days on market $299,900 Active 67 DOM
35. 2026-06-24
    days on market $299,900 Active 65 DOM
36. 2026-06-22
    days on market $299,900 Active 63 DOM
37. 2026-06-21
    days on market $299,900 Active 62 DOM
38. 2026-06-18
    days on market $299,900 Active 59 DOM
39. 2026-06-17
    days on market $299,900 Active 58 DOM
40. 2026-06-16
    days on market $299,900 Active 57 DOM
41. 2026-06-15
    days on market $299,900 Active 56 DOM
42. 2026-06-13
    days on market $299,900 Active 54 DOM
43. 2026-06-09
    days on market $299,900 Active 50 DOM
44. 2026-06-08
    days on market $299,900 Active 49 DOM
45. 2026-06-07
    days on market $299,900 Active 48 DOM
46. 2026-06-04
    days on market $299,900 Active 45 DOM
47. 2026-06-03
    days on market $299,900 Active 44 DOM
48. 2026-06-02
    days on market $299,900 Active 43 DOM
49. 2026-06-01
    days on market $299,900 Active 42 DOM
50. 2026-05-31
    days on market $299,900 Active 41 DOM

ⓘ 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 · 23 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: $32,555
• − Mortgage interest: −$16,799
• − Property taxes: −$4,498
• − Insurance: −$1,500
• − Repairs & maintenance: −$2,604
• − Management: −$2,604
• − Depreciation: −$8,724
• Taxable loss: −$4,175
• Est. tax savings @ 24.0%: +$1,002
• After-tax cash flow: $1,850/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 · 13 photos

Good 80/100 Cosmetic rehab Est. rehab $9,160–$27,480 screening

This modern, well-maintained home in Sunny South Dallas offers a great opportunity for investors looking to capitalize on its location and contemporary design.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and resale value ↑
• Both Replace carpet in bedrooms — Improves comfort and rental appeal ↑
• Both Install smart home devices — Enhances convenience and rental appeal ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 21/100

Zoned Schools

Elementary Paul L Dunbar Learning Center F TX #3,052/4,322 Nat'l #30,133/41,679 Middle Billy Earl Dade Middle F TX #1,407/1,662 Nat'l #11,564/14,009 High James Madison H S F TX #1,491/1,632 Nat'l #15,029/17,239

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

A Composite livability gradescore 81/100

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 · 2,979,839 people
• City population: 1,168,437
• Metro: Dallas-Fort Worth-Arlington, TX
• Population (ZIP): 18,895
• Household income: $45,557
• Rent vs Own: 61.8% rent · 38.2% own
• Severe rent burden: 14% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: Black 59% Hispanic / Latino 25% White 11% Two or more races 10%
• Hispanic origin (detail): Mexican 21%
• Common ancestry: Italian 1% Hispanic 1%
• Foreign-born: 16% · Canada
• Languages at home: 74% English-only · Spanish 26%

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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: ▲ 0.79%
• Current HPI: 224.2955
• Rent YoY: ▲ 7.19%
• Metro: Dallas-Fort Worth-Arlington, TX
• State GDP YoY: ▲ 3.95%
• F500 in state: 110

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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

+5.2% since first listed

4 events — show timeline

• 2026-04-27 Price Changed $299,900 NTREIS
• 2026-04-24 Relisted — NTREIS
• 2025-07-22 Pending — NTREIS
• 2025-07-18 Listed $285,000 NTREIS