2443 Bussey Dr

Irving, TX 75062

$899,000F

5 bd · 4.0 ba · 3,184 sqft · Built 2025 · Land · Active · 57 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,041/mo
• Mortgage (P&I): −$4,714
• Tax + insurance: −$1,498
• HOA: −$58
• Vac / Maint / Mgmt: −$639
• Net cashflow: $-3,868/mo
• Annual: $-46,418/yr
• Cap rate: 1.13%
• Cash-on-cash: -18.44%
• DSCR: 0.18
• 1% rule: 0.34%
• Cash to close: $251,720

Investor read

• This is a 5-bed/4.0-bath land listed at $899k.
• At list price, monthly cash flow is $-4k ($-46k/yr) — negative.
• To cash-flow at today's rent, offer at most $339k (62.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $304k (66.2% below list).
• It's been on market 57 days — a 3% lower offer ($872k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $304k (66.2% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $6k of loan paydown is wiped out by about $27k 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.
• Market conditions: Rents rising fast (+4.1%/yr); 148 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 1.1% vs local median 2.6% in Irving — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.
• At $3,041/mo this rent would consume 50% of the median local household income ($73k/yr) (locally 1829% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• 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?
• It's been on market 57 days. Have you received any prior offers? Is the seller open to a 66% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.