2909 Lenway St · Dallas, TX 75215

$95,000

2 bd · 1.0 ba · 836 sqft · SingleFamily public records · 15 Days on market

Built 1925 5,502 sqft lot Est $130k · 27% under ↓ 27% since listing

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Why this score? — see what drove the A- 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).

• Cash flow +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +5.4/10.0
• Rent growth +4.3/5.0
• Livability +4.0/5.0
• Schools +2.8/10.0
• Condition / age +2.5/5.0

Listing remarks

PERFECT INVESTOR OPPORTUNITY. House located in the heart of Dallas near Fair Park. Cash only or Private Money Lender. Contact listing agent for details!

Key facts

• 5,502 sq ft lot
• Built 1925
• Listed 15 days

Property features AI

Finance

• Other: Subdivision: Freeman & Camps; County: Dallas; Transaction type: For Sale; Possession at closing/funding
• Financial info: Listing terms: Cash; Treat as clear loan type; No second mortgage
• HOA & community: No association

Exterior

• Parking: On-street parking
• Utilities: City water; City sewer; Not in a municipal utility district
• Home design: Single-family residence; Residential property; One story
• Construction: Built in 1925; Frame construction; Shingle roof; Pillar/post/pier foundation
• Exterior features: No fencing; Lot under 0.5 acre (about 5,502 sq ft)

Interior

• Kitchen: No appliances included
• Bedrooms: Primary bedroom (1st floor) — approx. 10 x 11; Second bedroom (1st floor) — approx. 10 x 10
• Flooring: Hardwood floors
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Natural woodwork; One living area; One dining area; 4 total rooms; One level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $456 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $95k).
• Recommended offer: $94k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.1% 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: Paul L Dunbar Learning Center (math 27% / reading 22%, grade F, #3,052 of 4,322 statewide, top 74%, 531 students, 95% FRL).
• Market conditions: Rents rising fast (+7.2%/yr); 248 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 12,577 units permitted in Dallas County in 2024 (6,829 in 5+ unit buildings).
• This rent runs 40% of the median local income ($46k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $1k of equity ($657 loan paydown + $750 appreciation (0.8% local appreciation)).
• Dallas County population projected at +35% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (0.8% appreciation + 7.2% rent growth), your $27k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($94k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y 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 2.5% of price; built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $93,575 (1.5% below list)

Questions for the listing agent

1. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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.

Investment metrics

• 1% rule: 1.59% ✓
• Cap rate: 12.05%
• Cash-on-cash: 20.57%
• DSCR: 1.92
• GRM: 5.2

CMA / ARV

• ARV (on-the-fly): $130,416
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3121 Metropolitan Ave	0.29mi	2/2.0	843 (+1%)	12mo	$249,900	$296	71
2915 Reed Ln	0.66mi	2/1.0	836 (0%)	5mo	$175,000	$209	65
3512 S Harwood St	0.68mi	2/1.0	840 (+0%)	4mo	$90,000	$107	64
2429 Romine Ave	0.55mi	2/2.0	864 (+3%)	12mo	$200,000	$231	55
3110 Roby St	0.26mi	2/2.0	728 (-13%)	13mo	$115,000	$158	51
3519 Frank St	0.62mi	2/1.0	924 (+10%)	4mo	$90,000	$97	50
3119 Tuskegee St	0.39mi	2/1.0	720 (-14%)	12mo	$85,000	$118	49
2638 Burger Ave	0.26mi	1/1.0 (-1)	744 (-11%)	21mo	$85,000	$114	47
3030 Pine St	0.64mi	2/1.0	744 (-11%)	8mo	$85,000	$114	45
2911 Reed Ln	0.66mi	2/1.0	744 (-11%)	11mo	$80,000	$108	41
3912 Atlanta St	0.58mi	3/1.0 (+1)	924 (+10%)	19mo	$155,900	$169	35
3634 Atlanta St	0.39mi	3/2.0 (+1)	959 (+15%)	22mo	$150,000	$156	30

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

0.79% appreciation · 7.19% rent growth · sell at horizon

5-year hold

• IRR: 26.0%
• Equity multiple: 2.37×
• Total profit: $36,571
• Equity at exit: $31,393

10-year hold

• IRR: 31.6%
• Equity multiple: 5.36×
• Total profit: $115,947
• Equity at exit: $40,928

Cash invested: $26,600 (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 75215

• Home prices YoY: 0.3%
• Rents YoY: 7.2%
• Active inventory: 248
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $1,513 high
• Mortgage (P&I): −$498
• Tax from tax record: −$202 /mo · $2,421/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$318
• Net cashflow: $456

Break-even live

Break-even rent $936

Max offer price $95,000

Occupancy floor 65%

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3711 Guaranty St Dallas, TX	3.0	1.0	984	$1,800	$1.83	15d	1	0.34mi
3501 Latimer St Dallas, TX	2.0	1.0	1008	$1,095	$1.09	2d	1	0.42mi
3907 Roberts Ave Dallas, TX	3.0	1.0	908	$1,395	$1.54	15d	1	0.43mi
4024 Myrtle St Dallas, TX	3.0	2.0	1106	$1,595	$1.44	4d	1	0.59mi
3529 Herrling St Dallas, TX	2.0	1.0	632	$1,200	$1.90	10d	1	0.67mi
3408 Spring Ave Dallas, TX	3.0	2.0	780	$1,340	$1.72	6d	1	0.68mi
2711 Cross St Dallas, TX	2.0	1.0	700	$1,275	$1.82	6d	1	0.77mi
3639 Pine St Dallas, TX	3.0	2.0	1090	$1,490	$1.37	14d	1	0.82mi
2408 Meyers St Unit 204 Dallas, TX	2.0	1.0	700	$770	$1.10	14d	1	0.87mi
1723 Eugene St Unit 2 Dallas, TX	1.0	1.0	756	$1,250	$1.65	43d	1	0.88mi
4205 Metropolitan Ave Dallas, TX	2.0	1.0	625	$1,150	$1.84	43d	1	0.95mi
2513 Southland St Dallas, TX	2.0	1.0	1010	$1,399	$1.39	20d	1	0.97mi
2513 Southland St Dallas, TX	2.0	1.0	1010	$1,299	$1.29	2d	1	0.97mi
2627 Elsie Faye Heggins St Dallas, TX	3.0	2.0	876	$1,280	$1.46	43d	1	0.98mi
2615 Elsie Faye Heggins St Dallas, TX	3.0	2.0	876	$1,280	$1.46	15d	1	0.98mi
2603 Elsie Faye Heggins St Dallas, TX	3.0	2.0	876	$1,385	$1.58	43d	1	0.99mi
2563 Elsie Faye Heggins St Dallas, TX	3.0	2.0	876	$1,240	$1.42	15d	1	0.99mi
2561 Elsie Faye Heggins St Dallas, TX	3.0	2.0	876	$1,390	$1.59	6d	1	0.99mi
1630 Poplar St Dallas, TX	2.0	1.0	903	$1,400	$1.55	24d	1	1.04mi
1724 Pear St Unit 1 Dallas, TX	2.0	1.0	605	$875	$1.45	43d	1	1.04mi
1628 Poplar St Dallas, TX	2.0	1.0	903	$1,400	$1.55	43d	1	1.04mi
4303 Jamaica St Dallas, TX	3.0	2.0	1027	$1,375	$1.34	6d	1	1.05mi
4722 Meadow St Dallas, TX	2.0–3.0	2.0	1107	$1,275	$1.15	11d	4	1.06mi
3526 Elsie Faye Heggins St Dallas, TX	3.0	2.0	1113	$1,795	$1.61	24d	1	1.11mi
3526 Elsie Faye Heggins St Dallas, TX	3.0	2.0	1113	$1,795	$1.61	7d	1	1.11mi
4121 Commerce St Dallas, TX	1.0	1.0–1.5	1495	$3,200	$2.14	7d	5	1.15mi
2010 S Cesar Chavez Blvd Dallas, TX	1.0	1.0	791	$1,047	$1.32	43d	1	1.17mi
3627 Sidney St Dallas, TX	3.0	2.0	1090	$1,614	$1.48	6d	1	1.17mi
4021 Commerce St Dallas, TX	1.0	1.0	601	$1,001	$1.67	2d	1	1.22mi
2829 Oakdale St Dallas, TX	3.0	2.0	1028	$1,840	$1.79	7d	1	1.22mi
4525 Metropolitan Ave Dallas, TX	3.0	2.0	1090	$1,490	$1.37	14d	1	1.28mi
3900 Commerce St Dallas, TX	2.0	1.0–2.0	1217	$3,925	$3.22	6d	10	1.29mi
3900 Commerce St Unit b1 Dallas, TX	1.0	1.0	888	$1,845	$2.08	43d	1	1.29mi
2020 S Ervay St Dallas, TX	2.0	1.0–2.0	821	$2,325	$2.83	3d	54	1.30mi
2016 S Ervay St Unit A2 Dallas, TX	1.0	1.0	760	$1,600	$2.11	43d	1	1.30mi
2016 S Ervay St Unit B1 Dallas, TX	2.0	2.0	1102	$2,225	$2.02	43d	1	1.30mi
2016 S Ervay St Unit A1 Dallas, TX	1.0	1.0	660	$1,449	$2.20	43d	1	1.30mi
1812 Hickory St Dallas, TX	1.0–2.0	1.0–2.0	825	$2,261	$2.74	43d	19	1.31mi
3800 Commerce St Dallas, TX	1.0	1.0	892	$2,138	$2.40	2d	9	1.33mi
2007 S Ervay St Dallas, TX	1.0	1.0	1510	$2,295	$1.52	7d	2	1.35mi

Listing history 10 events

1. 2026-06-18
   days on market $95,000 Active 15 DOM
2. 2026-06-17
   days on market $95,000 Active 14 DOM
3. 2026-06-16
   days on market $95,000 Active 13 DOM
4. 2026-06-15
   days on market $95,000 Active 12 DOM
5. 2026-06-13
   days on market $95,000 Active 10 DOM
6. 2026-06-09
   days on market $95,000 Active 6 DOM
7. 2026-06-08
   days on market $95,000 Active 5 DOM
8. 2026-06-07
   days on market $95,000 Active 4 DOM
9. 2026-06-04
   remarks 152-char remark
10. 2026-06-04
    listed $95,000 Active 1 DOM

ⓘ 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: $2,421 · $202/mo
• Projected year-2 tax: $2,421 · $202/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 3/10 Moderate FEMA zone X (unshaded) · 10% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥110°F today · 24 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: $18,161
• − Mortgage interest: −$5,321
• − Property taxes: −$2,421
• − Insurance: −$475
• − Repairs & maintenance: −$1,453
• − Management: −$1,453
• − Depreciation: −$2,764
• Taxable income: $4,274
• Est. tax owed @ 24.0%: −$1,026
• After-tax cash flow: $4,447/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): 18,895
• Household income: $45,557
• Rent vs Own: 61.8% rent · 38.2% own
• Severe rent burden: 1464.0

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 0.58)
• Race & ethnicity: Black 59% Hispanic / Latino 25% White 11% Two or more races 10%
• Hispanic origin (detail): Mexican 21%
• Common ancestry: Italian 1% Hispanic 1%
• Foreign-born: 16% · Canada
• Languages at home: 74% English-only · Spanish 26%

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: ▲ 0.79%
• Current HPI: 224.2955
• Rent YoY: ▲ 7.19%
• 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

-26.9% since first listed

9 events — show timeline

• 2026-06-03 Listed $95,000 NTREIS
• 2025-01-08 Price Changed $110,000 NTREIS
• 2025-01-02 Relisted — NTREIS
• 2024-12-26 Contingent — NTREIS
• 2024-11-21 Price Changed $120,000 NTREIS
• 2024-09-19 Listed $130,000 NTREIS
• 2021-01-12 Sold (Public Records) — Public Records
• 2020-12-29 Sold (Public Records) — Public Records
• 2019-11-19 Sold (Public Records) — Public Records

Property tax history

+8.3%/yr

Latest (2025): $2,421 · -1.0% YoY. Source: county tax records.