6214 Hidden Springs Ln

Garland, TX 75044

$649,000D+

4 bd · 3.5 ba · 3,669 sqft · Built 1994 · SingleFamily · Active · 4 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $6,108/mo
• Mortgage (P&I): −$3,403
• Tax + insurance: −$1,418
• HOA: −$13
• Vac / Maint / Mgmt: −$1,283
• Net cashflow: $-9/mo
• Annual: $-109/yr
• Cap rate: 6.28%
• Cash-on-cash: -0.06%
• DSCR: 1.00
• 1% rule: 0.94%
• Cash to close: $181,720

Investor read

• This is a 4-bed/3.5-bath single-family listed at $649k.
• At list price, monthly cash flow is $-9 ($-109/yr) — negative.
• To cash-flow at today's rent, offer at most $647k (0.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $611k (5.9% below list).
• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $611k (5.9% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $19k of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#165 in TX, #4,447 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, cost of living A-; Watch: amenities C-, health & safety F.
• Richardson ISD (urban): math 40% / reading 44% proficiency, ranked #316 of 826 in TX (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Big Springs El (math 47% / reading 42%, grade F, #1,155 of 4,322 statewide, top 29%, 390 students, 44% FRL); Apollo J H (math 28% / reading 42%, grade F, #842 of 1,662 statewide, top 51%, 639 students, 63% FRL); Berkner H S (math 20% / reading 45%, grade F, #1,029 of 1,632 statewide, top 64%, 2,290 students, 64% FRL) — zoned schools at 57% FRL track the district average.
• Market conditions: Rents soft (-1.0%/yr); 185 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 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.
• 2 sale attempts since 5y 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.
• 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 6.3% vs local median 3.5% in Garland — 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 $6,108/mo this rent would consume 80% of the median local household income ($92k/yr) (locally 1537% 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?
• 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.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.