4851 Cedar Springs Rd #189 · Dallas, TX 75219

$99,000

1 bd · 1.0 ba · 665 sqft · Condo public records · 149 Days on market

Built 1970 $149/sqft · 23% below area Est $128k · 23% under $464/mo HOA · 33% of rent ↓ 19% since listing

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

• ARV discount +15.0/15.0
• 1% rule +9.2/10.0
• Cash flow +6.4/30.0
• Livability +4.0/5.0
• Schools +2.8/10.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• DSCR +0.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to River Oaks Condos, located in the Oaklawn area. This one bedroom, 1 bath condo is located on the first floor and has so many updates! Updates include, fresh paint, carpet, luxury vinyl plank flooring, stainless appliances, granite counter tops, custom cabinets and more! Spacious open floor plan with great sized bedroom and walk in closet. Community features a clubhouse and community pool!

Key facts

• Custom cabinets
• Fresh paint
• Stainless appliances

Tags

• FIRST FLOOR
• FRESH PAINT
• LUXURY VINYL PLANK FLOORING
• STAINLESS APPLIANCES
• GRANITE COUNTER TOPS
• CUSTOM CABINETS

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $99k.

Deal economics

• At list price, monthly cash flow is $-171 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $69k (30.5% below list).
• Meets the 1% rule at list price ($1k rent vs $99k).
• Recommended offer: $69k (30.5% below list) — sets the bar for cash-flow.
• Cap rate 4.2% 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: Thomas J Rusk Middle (math 20% / reading 21%, grade F, #1,407 of 1,662 statewide, top 86%, 443 students, 95% FRL); North Dallas H S (math 30% / reading 31%, grade F, #1,085 of 1,632 statewide, top 67%, 1,261 students, 82% FRL).
• Market conditions: Rents flat; 443 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 12,577 units permitted in Dallas County in 2024 (6,829 in 5+ unit buildings).
• This rent is only 16% of the median local income ($102k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $684 of loan paydown is wiped out by about $3k 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 149 days — a 12% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $24k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.1% of price; HOA is 33% of rent.
• 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 $68,811 (30.5% 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. It's been on market 149 days. Have you received any prior offers? Is the seller open to a 30% concession, seller financing, or rate buy-down credit?
3. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. 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?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. 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?
10. 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?
11. 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.
12. 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.
13. 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: 1.42% ✓
• Cap rate: 4.22%
• Cash-on-cash: -7.40%
• DSCR: 0.67
• GRM: 5.9

CMA / ARV

• ARV (median comp): $128,484
• List price: $99,000
• Delta: -22.95%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.56% rent growth · sell at horizon

5-year hold

• IRR: -34.6%
• Equity multiple: -0.08×
• Total profit: $-29,901
• Equity at exit: $14,761

10-year hold

• IRR: -86.2%
• Equity multiple: -0.86×
• Total profit: $-51,615
• Equity at exit: $8,560

Cash invested: $27,720 (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 75219

• Rents YoY: 0.6%
• Active inventory: 443
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,402 high
• Mortgage (P&I): −$519
• Tax from tax record: −$254 /mo · $3,051/yr
• Insurance: −$41
• HOA: −$464
• Vacancy / Maint / Mgmt: −$294
• Net cashflow: $-171

Break-even live

Break-even rent $1,619

Max offer price $68,811

Occupancy floor —

Sensitivity live

Price	-10% $-115	-5% $-143	+0% $-171	+5% $-199	+10% $-227
Rent	-10% $-282	-5% $-226	+0% $-171	+5% $-116	+10% $-60
Rate	-1.0pp $-121	-0.5pp $-146	base $-171	+0.5pp $-197	+1.0pp $-223

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4859 Cedar Springs Rd Dallas, TX	1.0	1.0	665	$1,250	$1.88	45d	2	0.05mi
4837 Cedar Springs Rd Dallas, TX	1.0	1.0	665	$1,525	$2.29	45d	2	0.09mi
4837 Cedar Springs Rd #110 Dallas, TX	1.0	1.0	665	$1,800	$2.71	26d	1	0.09mi
2833 Kings Rd Dallas, TX	1.0	1.0	750	$1,260	$1.68	17d	1	0.12mi
2833 Kings Rd Dallas, TX	1.0	1.0	690	$1,180	$1.71	45d	2	0.14mi
5051 Lahoma St Dallas, TX	1.0	1.0	636	$1,312	$2.06	45d	3	0.19mi
5011 Lahoma St Dallas, TX	1.0	1.0	608	$957	$1.57	26d	1	0.20mi
4612 Cedar Springs Rd Dallas, TX	1.0	1.0	650	$1,515	$2.33	45d	1	0.21mi
4612 Cedar Springs Rd Dallas, TX	1.0	1.0	650	$1,515	$2.33	21d	1	0.21mi
3102 Kings Rd Dallas, TX	1.0–2.0	1.0–2.0	806	$1,390	$1.72	5d	4	0.21mi
5143 Vandelia St Dallas, TX	1.0	1.0	642	$1,300	$2.02	9d	1	0.21mi
5143 Vandelia St Dallas, TX	1.0	1.0	642	$1,300	$2.02	45d	1	0.21mi
4605 Cedar Springs Rd Apt 220 Dallas, TX	1.0	1.0	749	$1,550	$2.07	45d	1	0.22mi
5151 Vandelia St Unit 211-2 Dallas, TX	—	1.0	469	$999	$2.13	45d	1	0.22mi
5151 Vandelia St Dallas, TX	2.0	1.0–2.0	655	$1,150	$1.75	8d	6	0.22mi
5156 Vandelia St Dallas, TX	1.0	1.0	652	$1,275	$1.96	1d	1	0.24mi
4730 Fairmount St Dallas, TX	1.0–2.0	1.0–2.5	971	$1,309	$1.35	0d	38	0.27mi
4606 Cedar Springs Rd Dallas, TX	1.0–3.0	1.0–2.0	1001	$1,140	$1.14	1d	40	0.27mi
3280 Cedarplaza Ln Dallas, TX	1.0–2.0	1.0–2.0	774	$1,099	$1.42	8d	4	0.33mi
4505 Cedar Springs Rd Dallas, TX	1.0	1.0	665	$1,285	$1.93	26d	1	0.34mi
4633 Fairmount St Dallas, TX	1.0	1.0	555	$1,200	$2.16	21d	1	0.34mi
2909 Lucas Dr Apt 101 Dallas, TX	1.0	1.0	520	$1,395	$2.68	45d	1	0.35mi
2909 Lucas Dr Unit 103 Dallas, TX	1.0	1.0	520	$1,395	$2.68	26d	1	0.35mi
3136 Hudnall St Dallas, TX	3.0	2.5	919	$1,050	$1.14	0d	76	0.35mi
3443 Mahanna St Dallas, TX	1.0	1.0	612	$1,340	$2.19	9d	9	0.36mi
3328 Cedarplaza Ln Dallas, TX	1.0–2.0	1.0–2.5	842	$1,224	$1.45	7d	15	0.37mi
3383 Cedarplaza Ln Dallas, TX	2.0	1.0–2.0	876	$1,937	$2.21	3d	13	0.38mi
3152 Hudnall St Dallas, TX	1.0	1.0	602	$1,050	$1.74	24d	1	0.38mi
5212 Fleetwood Oaks Ave #102 Dallas, TX	1.0	1.0	698	$1,250	$1.79	22d	1	0.39mi
2517 Amelia St Dallas, TX	1.0	1.0	698	$1,250	$1.79	45d	1	0.40mi
2924 Lucas Dr Dallas, TX	2.0	1.0–2.0	894	$1,670	$1.87	0d	25	0.41mi
5234 Fleetwood Oaks Ave #219 Dallas, TX	1.0	1.0	698	$1,500	$2.15	45d	1	0.43mi
5001 Bowser Ave #104 Dallas, TX	1.0	1.0	500	$1,095	$2.19	9d	1	0.43mi
5001 Bowser Ave #103 Dallas, TX	1.0	1.0	500	$1,250	$2.50	8d	1	0.43mi
5310 Fleetwood Oaks Ave Unit 136 Dallas, TX	1.0	1.0	710	$1,299	$1.83	9d	1	0.46mi
5000 Bowser Ave Unit 213 Dallas, TX	1.0	1.0	373	$950	$2.55	45d	1	0.48mi
3301 Hudnall St Dallas, TX	1.0	1.0	741	$1,542	$2.08	0d	24	0.48mi
5010 Bowser Ave Apt 106 Dallas, TX	—	1.0	373	$900	$2.41	45d	1	0.48mi
5322 Fleetwood Oaks Ave #242 Dallas, TX	1.0	1.0	710	$1,200	$1.69	45d	1	0.48mi
5490 Denton Dr Cut Unit 5505 Dallas, TX	1.0	1.0	724	$1,485	$2.05	17d	1	0.49mi

HOA detail condo

• Monthly dues: $464 · $5,568/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 15 events

1. 2026-06-04
   status $99,000 Pending 149 DOM
2. 2026-06-03
   days on market $99,000 Active Kick-Out 149 DOM
3. 2026-06-02
   days on market $99,000 Active Kick-Out 148 DOM
4. 2026-06-02
   days on market $99,000 Active Kick-Out 147 DOM
5. 2026-05-31
   days on market $99,000 Active Kick-Out 146 DOM
6. 2026-05-19
   historical Active Option Contract 405-char remark

   Show marketing remark (405 chars)

   Welcome to River Oaks Condos, located in the Oaklawn area. This one bedroom, 1 bath condo is located on the first floor and has so many updates! Updates include, fresh paint, carpet, luxury vinyl plank flooring, stainless appliances, granite counter tops, custom cabinets and more! Spacious open floor plan with great sized bedroom and walk in closet. Community features a clubhouse and community pool!

7. 2026-05-08
   status Active 405-char remark

   Show marketing remark (405 chars)

   Welcome to River Oaks Condos, located in the Oaklawn area. This one bedroom, 1 bath condo is located on the first floor and has so many updates! Updates include, fresh paint, carpet, luxury vinyl plank flooring, stainless appliances, granite counter tops, custom cabinets and more! Spacious open floor plan with great sized bedroom and walk in closet. Community features a clubhouse and community pool!

8. 2026-05-05
   historical Active Option Contract 405-char remark

   Show marketing remark (405 chars)

   Welcome to River Oaks Condos, located in the Oaklawn area. This one bedroom, 1 bath condo is located on the first floor and has so many updates! Updates include, fresh paint, carpet, luxury vinyl plank flooring, stainless appliances, granite counter tops, custom cabinets and more! Spacious open floor plan with great sized bedroom and walk in closet. Community features a clubhouse and community pool!

9. 2026-04-17
   price $99,000 405-char remark

   Show marketing remark (405 chars)

   Welcome to River Oaks Condos, located in the Oaklawn area. This one bedroom, 1 bath condo is located on the first floor and has so many updates! Updates include, fresh paint, carpet, luxury vinyl plank flooring, stainless appliances, granite counter tops, custom cabinets and more! Spacious open floor plan with great sized bedroom and walk in closet. Community features a clubhouse and community pool!

10. 2026-03-20
    price $114,000 405-char remark

    Show marketing remark (405 chars)

    Welcome to River Oaks Condos, located in the Oaklawn area. This one bedroom, 1 bath condo is located on the first floor and has so many updates! Updates include, fresh paint, carpet, luxury vinyl plank flooring, stainless appliances, granite counter tops, custom cabinets and more! Spacious open floor plan with great sized bedroom and walk in closet. Community features a clubhouse and community pool!

11. 2026-03-06
    price $116,000 405-char remark

    Show marketing remark (405 chars)

    Welcome to River Oaks Condos, located in the Oaklawn area. This one bedroom, 1 bath condo is located on the first floor and has so many updates! Updates include, fresh paint, carpet, luxury vinyl plank flooring, stainless appliances, granite counter tops, custom cabinets and more! Spacious open floor plan with great sized bedroom and walk in closet. Community features a clubhouse and community pool!

12. 2026-02-20
    price $118,000 405-char remark

    Show marketing remark (405 chars)

    Welcome to River Oaks Condos, located in the Oaklawn area. This one bedroom, 1 bath condo is located on the first floor and has so many updates! Updates include, fresh paint, carpet, luxury vinyl plank flooring, stainless appliances, granite counter tops, custom cabinets and more! Spacious open floor plan with great sized bedroom and walk in closet. Community features a clubhouse and community pool!

13. 2026-02-05
    price $120,000 405-char remark

    Show marketing remark (405 chars)

    Welcome to River Oaks Condos, located in the Oaklawn area. This one bedroom, 1 bath condo is located on the first floor and has so many updates! Updates include, fresh paint, carpet, luxury vinyl plank flooring, stainless appliances, granite counter tops, custom cabinets and more! Spacious open floor plan with great sized bedroom and walk in closet. Community features a clubhouse and community pool!

14. 2026-01-05
    listed $122,500 Active 405-char remark

    Show marketing remark (405 chars)

    Welcome to River Oaks Condos, located in the Oaklawn area. This one bedroom, 1 bath condo is located on the first floor and has so many updates! Updates include, fresh paint, carpet, luxury vinyl plank flooring, stainless appliances, granite counter tops, custom cabinets and more! Spacious open floor plan with great sized bedroom and walk in closet. Community features a clubhouse and community pool!

15. 1999-03-16
    soldstatus

ⓘ 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: $3,051 · $254/mo
• Projected year-2 tax: $3,051 · $254/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 ≥110°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: $16,826
• − Mortgage interest: −$5,546
• − Property taxes: −$3,051
• − Insurance: −$495
• − Repairs & maintenance: −$1,346
• − Management: −$1,346
• − HOA: −$5,568
• − Depreciation: −$2,880
• Taxable loss: −$3,405
• Est. tax savings @ 24.0%: +$817
• After-tax cash flow: $-1,234/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: 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): 23,934
• Household income: $102,364
• Rent vs Own: 66.4% rent · 33.6% own
• Severe rent burden: 1475.0

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 0.65)
• Race & ethnicity: White 53% Hispanic / Latino 21% Black 12% Two or more races 12% Asian 10%
• Hispanic origin (detail): Mexican 13% Puerto Rican 2%
• Common ancestry: Lithuanian 4% Italian 3% Slovak 2%
• Foreign-born: 18% · Canada, Vietnam, China
• Languages at home: 70% English-only · Spanish 18% Other Indo-European 3% Chinese 2%

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: ▼ -124.82%
• Current HPI: 214.4564
• Rent YoY: ▲ 0.56%
• 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

-19.2% since first listed

10 events — show timeline

• 2026-05-19 Contingent — NTREIS
• 2026-05-08 Relisted — NTREIS
• 2026-05-05 Contingent — NTREIS
• 2026-04-17 Price Changed $99,000 NTREIS
• 2026-03-20 Price Changed $114,000 NTREIS
• 2026-03-06 Price Changed $116,000 NTREIS
• 2026-02-20 Price Changed $118,000 NTREIS
• 2026-02-05 Price Changed $120,000 NTREIS
• 2026-01-05 Listed $122,500 NTREIS
• 1999-03-16 Sold (Public Records) — Public Records

Property tax history

+5.8%/yr

Latest (2025): $3,051 · -4.5% YoY. Source: county tax records.