4565 N O Connor Rd #1304 · Irving, TX 75062

$145,900

2 bd · 2.0 ba · 1,068 sqft · Condo public records · 11 Days on market

Built 1975 $507/mo HOA · 28% of rent

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Why this score? — see what drove the F 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).

• 1% rule +7.5/10.0
• ARV discount +7.5/15.0
• Cash flow +6.5/30.0
• Livability +4.0/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• DSCR +0.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great price for this nice ground level condo with 2 bedrooms, 2 baths, combo living & dining, kitchen with serving bar, washer, dryer, refrigerator, coverd patio. Located near the Four Seasons Resort and Las Colinas Country Club. HOA dues cover water, sewer, trash, exterior maintenance, gated community, 24hr guard, 2 pools, spa, gym, club house, playground & more! Close to major highways and DFW airport. HUD Case# 491-801475. Sold 'AS IS'.

Key facts

• Gated community
• Private back patio
• New refrigerator

Tags

• UPDATED 1ST-FLOOR CONDO
• NEW DISHWASHER
• NEW REFRIGERATOR
• PRIVATE BACK PATIO
• DEDICATED PARKING SPOT
• GATED COMMUNITY

Property features AI

Finance

• Other: Complex name: Quail Run Condominiums; Located in Dallas County
• Financial info: Listing accepts cash and conventional financing
• HOA & community: Mandatory association; Monthly association fee covers front yard maintenance, full use of facilities, security, sewer and water; HOA managed by Quail Run via Protea Real Estate

Exterior

• Parking: Covered parking (1 space); Carport (1 space); Additional parking available
• Security: Gated community; Smoke detectors; Carbon monoxide detectors
• Utilities: City water; City sewer; No municipal utility district
• Home design: Condominium (attached); Two-story building; Unit on first floor
• Construction: Built in 1975; Slab foundation; Composition/shingle roof; Preowned
• Exterior features: Condominium lot; Gated community; Clubhouse; Community pool

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Bedrooms: Two bedrooms on level 1; primary bedroom includes ensuite bath and walk-in closet; second bedroom has walk-in closet
• Flooring: Ceramic tile; Laminate
• Bathrooms: Two full bathrooms
• Heating & cooling: Central heating (electric); Central air (electric)
• Interior features: Cable TV available; One living area; One dining area; 3 total rooms
• Laundry & utility: Full-size washer and dryer area; Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $146k.

Deal economics

• At list price, monthly cash flow is $-250 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $102k (30.2% below list).
• Meets the 1% rule at list price ($2k rent vs $146k).
• Recommended offer: $102k (30.2% below list) — sets the bar for cash-flow.
• Cap rate 4.2% 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.

Location & tenants

• 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: Farine El (math 19% / reading 31%, grade F, #3,013 of 4,322 statewide, top 70%, 879 students, 80% FRL).
• Market conditions: Rents rising fast (+4.1%/yr); 148 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 12,577 units permitted in Dallas County in 2024 (6,829 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k 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

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 23y 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

• Watch-outs: property tax is 2.9% of price; HOA is 28% of rent.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $101,809 (30.2% 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. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 1.25% ✓
• Cap rate: 4.24%
• Cash-on-cash: -7.33%
• DSCR: 0.67
• GRM: 6.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.12% rent growth · sell at horizon

5-year hold

• IRR: -26.3%
• Equity multiple: 0.09×
• Total profit: $-37,025
• Equity at exit: $21,754

10-year hold

• IRR: -17.0%
• Equity multiple: -0.03×
• Total profit: $-42,216
• Equity at exit: $12,615

Cash invested: $40,852 (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 75062

• Rents YoY: 4.1%
• Active inventory: 148
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,817 high
• Mortgage (P&I): −$765
• Tax from tax record: −$352 /mo · $4,226/yr
• Insurance: −$61
• HOA: −$507
• Vacancy / Maint / Mgmt: −$382
• Net cashflow: $-250

Break-even live

Break-even rent $2,133

Max offer price $101,809

Occupancy floor —

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: $36,475
• Closing costs: $4,377
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4533 N O'Connor Rd Unit 2208 Irving, TX	3.0	3.0	1438	$2,175	$1.51	24d	1	0.01mi
4531 N O'Connor Rd Unit 1196 Irving, TX	2.0	2.5	1167	$1,599	$1.37	22d	1	0.03mi
4563 N O'Connor Rd Irving, TX	3.0	2.0	1357	$2,500	$1.84	43d	1	0.05mi
4537 N O Connor Rd #1222 Irving, TX	2.0	2.5	1167	$1,900	$1.63	16d	1	0.05mi
4525 N O Connor Rd #1184 Irving, TX	2.0	2.0	1046	$1,700	$1.63	43d	1	0.06mi
4535 N O Connor Rd #1214 Irving, TX	2.0	2.5	1167	$1,950	$1.67	16d	1	0.06mi
4569 N O Connor Rd #2318 Irving, TX	2.0	2.0	1120	$1,750	$1.56	5d	1	0.08mi
4549 N O Connor Rd #1262 Irving, TX	2.0	2.0	1046	$1,800	$1.72	24d	1	0.13mi
3701 N O'Connor Rd Irving, TX	1.0–2.0	1.0–2.0	1071	$2,086	$1.95	1d	30	0.21mi
4809 N O'Connor Rd Irving, TX	1.0–2.0	1.0–2.0	945	$1,527	$1.62	3d	24	0.33mi
3506 Bangor Ct E Irving, TX	3.0	1.5	1469	$2,250	$1.53	43d	1	0.79mi
3210 Bryn Mawr Dr Irving, TX	3.0	2.0	1206	$2,500	$2.07	2d	1	0.90mi
330 Las Colinas Blvd E Irving, TX	1.0	1.0	809	$1,825	$2.26	4d	2	0.94mi
330 Las Colinas Blvd E Irving, TX	1.0	1.0	838	$1,796	$2.14	22d	2	0.94mi
330 Las Colinas Blvd E Irving, TX	1.0	1.0	809	$1,900	$2.35	43d	2	0.94mi
330 Las Colinas Blvd E #348 Irving, TX	1.0	1.0	813	$1,900	$2.34	7d	1	0.95mi
200 W John Carpenter Fwy Irving, TX	1.0	1.0	744	$948	$1.27	43d	1	0.96mi
301 Las Colinas Blvd W Irving, TX	1.0–2.0	1.0–2.0	875	$2,185	$2.50	1d	17	0.99mi
350 Las Colinas Blvd E Irving, TX	2.0	1.0–2.0	984	$2,398	$2.44	1d	24	1.00mi
601 W Rochelle Rd Irving, TX	1.0–3.0	1.0–2.0	928	$1,424	$1.54	1d	1	1.03mi
385 E Las Colinas Blvd Unit 442 Irving, TX	2.0	2.0	873	$1,335	$1.53	43d	1	1.04mi
385 Las Colinas Blvd E Irving, TX	2.0	2.0	1383	$2,005	$1.45	7d	1	1.05mi
385 E Las Colinas Blvd Unit 2121 Irving, TX	2.0	2.0	873	$1,487	$1.70	3d	1	1.06mi
385 E Las Colinas Blvd Unit 422 Irving, TX	2.0	2.0	873	$1,519	$1.74	10d	1	1.06mi
755 Las Colinas Blvd Unit ID1029 Irving, TX	1.0	1.0	868	$1,900	$2.19	43d	1	1.10mi
755 Las Colinas Blvd Unit ID8118 Irving, TX	2.0	2.0	1309	$2,850	$2.18	43d	1	1.10mi
755 Las Colinas Blvd Unit ID9992 Irving, TX	2.0	2.0	1222	$2,600	$2.13	43d	1	1.10mi
755 Las Colinas Blvd Unit ID7009 Irving, TX	1.0	1.0	785	$1,695	$2.16	43d	1	1.10mi
919 W Rochelle Rd Unit 921 Irving, TX	3.0	2.5	1495	$1,895	$1.27	43d	1	1.10mi
5270 N O'Connor Blvd Irving, TX	2.0	1.0–2.0	992	$3,672	$3.70	1d	32	1.12mi
330 W Las Colinas Blvd Irving, TX	1.0	1.0	826	$1,550	$1.88	12d	1	1.13mi
240 W Rochelle Rd Irving, TX	1.0–2.0	1.0–2.0	747	$1,350	$1.81	7d	14	1.16mi
240 W Rochelle Rd Irving, TX	1.0–2.0	1.0–2.0	747	$1,475	$1.97	24d	15	1.16mi
306 W Rochelle Rd Irving, TX	1.0–2.0	1.0–2.0	845	$1,585	$1.88	2d	13	1.17mi
900 W Rochelle Rd Irving, TX	1.0–2.0	1.0	979	$1,570	$1.60	43d	10	1.18mi
900 Lake Carolyn Pkwy Irving, TX	1.0–2.0	1.0–2.0	977	$3,014	$3.08	2d	20	1.21mi
850 Lake Carolyn Pkwy Irving, TX	1.0–2.0	1.0–2.0	969	$2,815	$2.91	1d	36	1.25mi
909 Lake Carolyn Pkwy Irving, TX	1.0	1.0	720	$1,057	$1.47	43d	1	1.26mi
1225 Fairdale St Irving, TX	3.0	1.5	975	$1,750	$1.79	24d	1	1.27mi
3950 N Story Rd Irving, TX	1.0–2.0	1.0–2.0	838	$1,684	$2.01	1d	42	1.27mi

HOA detail condo

• Monthly dues: $507 · $6,084/yr
• Likely covers: watersewertrashexterior maint.poolgymsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 12 events

1. 2026-05-13
   status Pending 1581-char remark
2. 2026-05-06
   historical Active Option Contract 1581-char remark
3. 2026-05-01
   listed $145,900 Active 1581-char remark
4. 2011-07-15
   soldstatus Closed 455-char remark

   Show marketing remark (455 chars)

   Great price for this nice ground level condo with 2 bedrooms, 2 baths, combo living & dining, kitchen with serving bar, washer, dryer, refrigerator, coverd patio. Located near the Four Seasons Resort and Las Colinas Country Club. HOA dues cover water, sewer, trash, exterior maintenance, gated community, 24hr guard, 2 pools, spa, gym, club house, playground & more! Close to major highways and DFW airport. HUD Case# 491-801475. Sold 'AS IS'.

5. 2011-05-02
   status Pending 455-char remark

   Show marketing remark (455 chars)

   Great price for this nice ground level condo with 2 bedrooms, 2 baths, combo living & dining, kitchen with serving bar, washer, dryer, refrigerator, coverd patio. Located near the Four Seasons Resort and Las Colinas Country Club. HOA dues cover water, sewer, trash, exterior maintenance, gated community, 24hr guard, 2 pools, spa, gym, club house, playground & more! Close to major highways and DFW airport. HUD Case# 491-801475. Sold 'AS IS'.

6. 2011-04-28
   price $46,800 455-char remark

   Show marketing remark (455 chars)

   Great price for this nice ground level condo with 2 bedrooms, 2 baths, combo living & dining, kitchen with serving bar, washer, dryer, refrigerator, coverd patio. Located near the Four Seasons Resort and Las Colinas Country Club. HOA dues cover water, sewer, trash, exterior maintenance, gated community, 24hr guard, 2 pools, spa, gym, club house, playground & more! Close to major highways and DFW airport. HUD Case# 491-801475. Sold 'AS IS'.

7. 2011-03-16
   status Active 455-char remark

   Show marketing remark (455 chars)

   Great price for this nice ground level condo with 2 bedrooms, 2 baths, combo living & dining, kitchen with serving bar, washer, dryer, refrigerator, coverd patio. Located near the Four Seasons Resort and Las Colinas Country Club. HOA dues cover water, sewer, trash, exterior maintenance, gated community, 24hr guard, 2 pools, spa, gym, club house, playground & more! Close to major highways and DFW airport. HUD Case# 491-801475. Sold 'AS IS'.

8. 2011-03-14
   status Pending 455-char remark

   Show marketing remark (455 chars)

   Great price for this nice ground level condo with 2 bedrooms, 2 baths, combo living & dining, kitchen with serving bar, washer, dryer, refrigerator, coverd patio. Located near the Four Seasons Resort and Las Colinas Country Club. HOA dues cover water, sewer, trash, exterior maintenance, gated community, 24hr guard, 2 pools, spa, gym, club house, playground & more! Close to major highways and DFW airport. HUD Case# 491-801475. Sold 'AS IS'.

9. 2011-03-04
   listed $52,000 Active 455-char remark

   Show marketing remark (455 chars)

   Great price for this nice ground level condo with 2 bedrooms, 2 baths, combo living & dining, kitchen with serving bar, washer, dryer, refrigerator, coverd patio. Located near the Four Seasons Resort and Las Colinas Country Club. HOA dues cover water, sewer, trash, exterior maintenance, gated community, 24hr guard, 2 pools, spa, gym, club house, playground & more! Close to major highways and DFW airport. HUD Case# 491-801475. Sold 'AS IS'.

10. 2003-06-13
    soldstatus
11. 2003-05-02
    historical
12. 2003-01-09
    listed $93,900

ⓘ 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: $4,226 · $352/mo
• Projected year-2 tax: $4,226 · $352/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 21 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: $21,805
• − Mortgage interest: −$8,173
• − Property taxes: −$4,226
• − Insurance: −$730
• − Repairs & maintenance: −$1,744
• − Management: −$1,744
• − HOA: −$6,084
• − Depreciation: −$4,244
• Taxable loss: −$5,140
• Est. tax savings @ 24.0%: +$1,234
• After-tax cash flow: $-1,761/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: Irving ISD
• NCES district ID: 4824420
• Math proficiency: 19% ▼ -28.00%
• Reading proficiency: 25% ▼ -11.00%
• Median HH income: $44,870
• Composite: 19.06/100
• National rank: #8840
• State rank: #751 of 826 in TX

Livability — Irving

• Score: 80/100
• State rank: #45
• US rank: #1913

Category grades

Amenities C- Commute A+ Cost of living A+ Crime C Employment B Housing A+ Health & safety C+ User ratings C

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Irving, TX
• County: Dallas County · 2,612,404 people
• City population: 258,488
• Metro: Dallas-Fort Worth-Arlington, TX
• Population (ZIP): 52,116
• Household income: $72,704
• Rent vs Own: 54.6% rent · 45.4% own
• Severe rent burden: 1829.0

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: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: Hispanic / Latino 49% White 20% Two or more races 16% Black 14% Asian 14%
• Hispanic origin (detail): Mexican 28%
• Common ancestry: Lithuanian 1% Slovak 1% Romanian 1%
• Foreign-born: 39% · Canada, Jamaica, Dominican Republic
• Languages at home: 42% English-only · Spanish 41% Other Indo-European 9% 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: ▼ -305.24%
• Current HPI: 301.2884
• Rent YoY: ▲ 4.12%
• 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

+55.4% since first listed

14 events — show timeline

• 2026-05-28 Sold (Public Records) — Public Records
• 2026-05-26 Sold (MLS) — NTREIS
• 2026-05-13 Pending — NTREIS
• 2026-05-06 Contingent — NTREIS
• 2026-05-01 Listed $145,900 NTREIS
• 2011-07-15 Sold (MLS) — NTREIS
• 2011-05-02 Pending — NTREIS
• 2011-04-28 Price Changed $46,800 NTREIS
• 2011-03-16 Relisted — NTREIS
• 2011-03-14 Pending — NTREIS
• 2011-03-04 Listed $52,000 NTREIS
• 2003-06-13 Sold (Public Records) — Public Records
• 2003-05-02 Listing Removed — NTREIS
• 2003-01-09 Listed $93,900 NTREIS

Property tax history

+4.2%/yr

Latest (2025): $4,226 · -7.5% YoY. Source: county tax records.