4048 La Costa Ct

Irving, TX 75038

$320,000D-

3 bd · 2.0 ba · 1,533 sqft · Built 1983 · SingleFamily · Pending · 29 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,503/mo
• Mortgage (P&I): −$1,678
• Tax + insurance: −$708
• HOA: −$0
• Vac / Maint / Mgmt: −$526
• Net cashflow: $-409/mo
• Annual: $-4,904/yr
• Cap rate: 4.76%
• Cash-on-cash: -5.47%
• DSCR: 0.76
• 1% rule: 0.78%
• Cash to close: $89,600

Investor read

• This is a 3-bed/2.0-bath single-family listed at $320k.
• At list price, monthly cash flow is $-409 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $248k (22.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $250k (21.8% below list).
• It's been on market 29 days — a 2% lower offer ($315k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $248k (22.6% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k 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.
• Zoned schools: Jackie Mae Townsell El (math 12% / reading 19%, grade F, #3,990 of 4,322 statewide, top 93%, 839 students, 87% FRL); Houston Middle (math 21% / reading 32%, grade F, #1,200 of 1,662 statewide, top 73%, 829 students, 87% FRL); Macarthur H S (math 29% / reading 29%, grade F, #1,147 of 1,632 statewide, top 71%, 2,586 students, 80% FRL).
• Market conditions: Rents flat; 132 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 16d 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.
• 5 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.
• Climate carrying-cost: extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 4.8% 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.
• This rent runs 44% of the median local income ($69k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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?
• 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.