3516 Rio Grande Cir · Dallas, TX 75233

$279,900

5 bd · 2.0 ba · 3,034 sqft · SingleFamily public records · 123 Days on market

Built 1963 4,269 sqft lot $92/sqft · 29% below area Est $396k · 29% under

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Why this score? — see what drove the C 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
• Cash flow +14.6/30.0
• Appreciation +7.1/10.0
• 1% rule +5.7/10.0
• DSCR +4.4/10.0
• Livability +4.0/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

This spacious 4-bedroom residence is a blank canvas, awaiting your creative touch to bring it back to its full potential. With a layout that offers endless possibilities, you have the chance to reimagine the space according to your vision.

Key facts

• 4,269 sq ft lot
• 2 garage spots
• Built 1963

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $280k.

Deal economics

• At list price, monthly cash flow is $64 ($772/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $280k).
• Recommended offer: $246k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.6% 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: schools C-, 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.
• Market conditions: 47 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 12,577 units permitted in Dallas County in 2024 (6,829 in 5+ unit buildings).

Forward outlook

• In year one you build about $14k of equity ($2k loan paydown + $12k appreciation (4.2% local appreciation)).
• Dallas County population projected at +35% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (4.2% appreciation + 3.0% rent growth), your $78k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 123 days — a 12% lower offer ($246k) is reasonable based on typical stale-listing flexibility.
• 6 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.

Risks & watch-outs

• Watch-outs: property tax is 3.1% of price.
• 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 $246,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 123 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.07% ✓
• Cap rate: 6.57%
• Cash-on-cash: 0.99%
• DSCR: 1.04
• GRM: 7.8

CMA / ARV

• ARV (median comp): $396,199
• List price: $279,900
• Delta: -29.35%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3431 Kiesthill Dr	0.13mi	4/2.5 (-1)	2,728 (-10%)	2mo	$327,000	$120	69
3326 Kiesthill Dr	0.23mi	4/2.5 (-1)	2,976 (-2%)	19mo	$360,000	$121	63
3780 Wenatche Dr	0.30mi	4/3.5 (-1)	2,900 (-4%)	10mo	$440,000	$152	59
3774 Wenatche Dr	0.29mi	4/3.5 (-1)	2,900 (-4%)	13mo	$499,000	$172	57
4139 Drowsy Ln	0.61mi	4/3.0 (-1)	2,663 (-12%)	12mo	$390,000	$146	32
3206 Gladiolus Ln	0.72mi	4/3.0 (-1)	2,696 (-11%)	14mo	$639,900	$237	28

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

Projected returns pro-forma

4.17% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 11.6%
• Equity multiple: 1.71×
• Total profit: $55,759
• Equity at exit: $144,649

10-year hold

• IRR: 13.2%
• Equity multiple: 3.20×
• Total profit: $172,431
• Equity at exit: $238,793

Cash invested: $78,372 (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 75233

• Home prices YoY: 1.1%
• Active inventory: 47
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $3,004 medium
• Mortgage (P&I): −$1,468
• Tax from tax record: −$725 /mo · $8,694/yr
• Insurance: −$117
• HOA: −$0
• Vacancy / Maint / Mgmt: −$631
• Net cashflow: $64

Break-even live

Break-even rent $2,923

Max offer price $279,900

Occupancy floor 93%

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: $69,975
• Closing costs: $8,397
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3208 Kiesthill Dr Dallas, TX	5.0	3.5	2664	$2,766	$1.04	21d	1	0.25mi
2374 Southwood Dr Dallas, TX	5.0	3.5	2903	$4,275	$1.47	15d	1	1.48mi

Listing history 27 events

1. 2026-06-02
   statusdays on market $279,900 Pending 123 DOM
2. 2026-05-31
   days on market $279,900 Active Option Contract 122 DOM
3. 2026-05-14
   historical Active Option Contract 239-char remark

   Show marketing remark (239 chars)

   This spacious 4-bedroom residence is a blank canvas, awaiting your creative touch to bring it back to its full potential. With a layout that offers endless possibilities, you have the chance to reimagine the space according to your vision.

4. 2026-03-04
   price $279,900 239-char remark

   Show marketing remark (239 chars)

   This spacious 4-bedroom residence is a blank canvas, awaiting your creative touch to bring it back to its full potential. With a layout that offers endless possibilities, you have the chance to reimagine the space according to your vision.

5. 2026-02-13
   status Active 239-char remark

   Show marketing remark (239 chars)

   This spacious 4-bedroom residence is a blank canvas, awaiting your creative touch to bring it back to its full potential. With a layout that offers endless possibilities, you have the chance to reimagine the space according to your vision.

6. 2026-02-10
   historical Active Option Contract 239-char remark

   Show marketing remark (239 chars)

   This spacious 4-bedroom residence is a blank canvas, awaiting your creative touch to bring it back to its full potential. With a layout that offers endless possibilities, you have the chance to reimagine the space according to your vision.

7. 2026-01-29
   listed $289,900 Active 239-char remark

   Show marketing remark (239 chars)

   This spacious 4-bedroom residence is a blank canvas, awaiting your creative touch to bring it back to its full potential. With a layout that offers endless possibilities, you have the chance to reimagine the space according to your vision.

8. 2024-10-03
   soldstatus
9. 2024-03-04
   soldstatus
10. 2023-10-10
    soldstatus Closed 961-char remark

    Show marketing remark (961 chars)

    In the heart of Dallas, an exciting investment opportunity awaits with this expansive fixer-upper boasting 6 bedrooms. Calling all savvy investors looking to add value and potential to their portfolio – this property holds immense promise and the chance to transform it into a remarkable living space. This spacious 6-bedroom residence is a blank canvas, awaiting your creative touch to bring it back to its full potential. With a layout that offers endless possibilities, you have the chance to reimagine the space according to your vision. Whether you're looking to create a spacious family haven, a multi-unit rental, or even a luxurious flip, the options are bound only by your imagination. While this property requires renovation and TLC, its location and size offer a compelling foundation for a rewarding project. Take advantage of the investor-friendly pricing and the opportunity to craft a space that aligns perfectly with your investment goals.

11. 2023-10-02
    status Pending 961-char remark

    Show marketing remark (961 chars)

    In the heart of Dallas, an exciting investment opportunity awaits with this expansive fixer-upper boasting 6 bedrooms. Calling all savvy investors looking to add value and potential to their portfolio – this property holds immense promise and the chance to transform it into a remarkable living space. This spacious 6-bedroom residence is a blank canvas, awaiting your creative touch to bring it back to its full potential. With a layout that offers endless possibilities, you have the chance to reimagine the space according to your vision. Whether you're looking to create a spacious family haven, a multi-unit rental, or even a luxurious flip, the options are bound only by your imagination. While this property requires renovation and TLC, its location and size offer a compelling foundation for a rewarding project. Take advantage of the investor-friendly pricing and the opportunity to craft a space that aligns perfectly with your investment goals.

12. 2023-09-28
    historical Active Option Contract 961-char remark

    Show marketing remark (961 chars)

    In the heart of Dallas, an exciting investment opportunity awaits with this expansive fixer-upper boasting 6 bedrooms. Calling all savvy investors looking to add value and potential to their portfolio – this property holds immense promise and the chance to transform it into a remarkable living space. This spacious 6-bedroom residence is a blank canvas, awaiting your creative touch to bring it back to its full potential. With a layout that offers endless possibilities, you have the chance to reimagine the space according to your vision. Whether you're looking to create a spacious family haven, a multi-unit rental, or even a luxurious flip, the options are bound only by your imagination. While this property requires renovation and TLC, its location and size offer a compelling foundation for a rewarding project. Take advantage of the investor-friendly pricing and the opportunity to craft a space that aligns perfectly with your investment goals.

13. 2023-09-17
    price $369,000 961-char remark

    Show marketing remark (961 chars)

    In the heart of Dallas, an exciting investment opportunity awaits with this expansive fixer-upper boasting 6 bedrooms. Calling all savvy investors looking to add value and potential to their portfolio – this property holds immense promise and the chance to transform it into a remarkable living space. This spacious 6-bedroom residence is a blank canvas, awaiting your creative touch to bring it back to its full potential. With a layout that offers endless possibilities, you have the chance to reimagine the space according to your vision. Whether you're looking to create a spacious family haven, a multi-unit rental, or even a luxurious flip, the options are bound only by your imagination. While this property requires renovation and TLC, its location and size offer a compelling foundation for a rewarding project. Take advantage of the investor-friendly pricing and the opportunity to craft a space that aligns perfectly with your investment goals.

14. 2023-09-08
    price $377,000 961-char remark

    Show marketing remark (961 chars)

    In the heart of Dallas, an exciting investment opportunity awaits with this expansive fixer-upper boasting 6 bedrooms. Calling all savvy investors looking to add value and potential to their portfolio – this property holds immense promise and the chance to transform it into a remarkable living space. This spacious 6-bedroom residence is a blank canvas, awaiting your creative touch to bring it back to its full potential. With a layout that offers endless possibilities, you have the chance to reimagine the space according to your vision. Whether you're looking to create a spacious family haven, a multi-unit rental, or even a luxurious flip, the options are bound only by your imagination. While this property requires renovation and TLC, its location and size offer a compelling foundation for a rewarding project. Take advantage of the investor-friendly pricing and the opportunity to craft a space that aligns perfectly with your investment goals.

15. 2023-09-05
    price $389,700 961-char remark

    Show marketing remark (961 chars)

    In the heart of Dallas, an exciting investment opportunity awaits with this expansive fixer-upper boasting 6 bedrooms. Calling all savvy investors looking to add value and potential to their portfolio – this property holds immense promise and the chance to transform it into a remarkable living space. This spacious 6-bedroom residence is a blank canvas, awaiting your creative touch to bring it back to its full potential. With a layout that offers endless possibilities, you have the chance to reimagine the space according to your vision. Whether you're looking to create a spacious family haven, a multi-unit rental, or even a luxurious flip, the options are bound only by your imagination. While this property requires renovation and TLC, its location and size offer a compelling foundation for a rewarding project. Take advantage of the investor-friendly pricing and the opportunity to craft a space that aligns perfectly with your investment goals.

16. 2023-08-28
    price $397,700 961-char remark

    Show marketing remark (961 chars)

    In the heart of Dallas, an exciting investment opportunity awaits with this expansive fixer-upper boasting 6 bedrooms. Calling all savvy investors looking to add value and potential to their portfolio – this property holds immense promise and the chance to transform it into a remarkable living space. This spacious 6-bedroom residence is a blank canvas, awaiting your creative touch to bring it back to its full potential. With a layout that offers endless possibilities, you have the chance to reimagine the space according to your vision. Whether you're looking to create a spacious family haven, a multi-unit rental, or even a luxurious flip, the options are bound only by your imagination. While this property requires renovation and TLC, its location and size offer a compelling foundation for a rewarding project. Take advantage of the investor-friendly pricing and the opportunity to craft a space that aligns perfectly with your investment goals.

17. 2023-08-21
    price $430,000 961-char remark

    Show marketing remark (961 chars)

    In the heart of Dallas, an exciting investment opportunity awaits with this expansive fixer-upper boasting 6 bedrooms. Calling all savvy investors looking to add value and potential to their portfolio – this property holds immense promise and the chance to transform it into a remarkable living space. This spacious 6-bedroom residence is a blank canvas, awaiting your creative touch to bring it back to its full potential. With a layout that offers endless possibilities, you have the chance to reimagine the space according to your vision. Whether you're looking to create a spacious family haven, a multi-unit rental, or even a luxurious flip, the options are bound only by your imagination. While this property requires renovation and TLC, its location and size offer a compelling foundation for a rewarding project. Take advantage of the investor-friendly pricing and the opportunity to craft a space that aligns perfectly with your investment goals.

18. 2023-08-15
    listed $450,000 Active 961-char remark

    Show marketing remark (961 chars)

    In the heart of Dallas, an exciting investment opportunity awaits with this expansive fixer-upper boasting 6 bedrooms. Calling all savvy investors looking to add value and potential to their portfolio – this property holds immense promise and the chance to transform it into a remarkable living space. This spacious 6-bedroom residence is a blank canvas, awaiting your creative touch to bring it back to its full potential. With a layout that offers endless possibilities, you have the chance to reimagine the space according to your vision. Whether you're looking to create a spacious family haven, a multi-unit rental, or even a luxurious flip, the options are bound only by your imagination. While this property requires renovation and TLC, its location and size offer a compelling foundation for a rewarding project. Take advantage of the investor-friendly pricing and the opportunity to craft a space that aligns perfectly with your investment goals.

19. 2017-04-05
    historical
20. 2016-11-08
    price $245,000
21. 2016-10-08
    listed $255,099 Active
22. 2015-11-03
    historical
23. 2015-05-26
    listed $200,000 Active
24. 2003-10-23
    historical
25. 2003-07-28
    listed $89,900
26. 2000-11-16
    soldstatus
27. 1985-12-09
    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: $8,694 · $725/mo
• Projected year-2 tax: $8,694 · $725/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 ≥109°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: $36,051
• − Mortgage interest: −$15,679
• − Property taxes: −$8,694
• − Insurance: −$1,400
• − Repairs & maintenance: −$2,884
• − Management: −$2,884
• − Depreciation: −$8,143
• Taxable loss: −$3,632
• Est. tax savings @ 24.0%: +$872
• After-tax cash flow: $1,644/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
• City population: 1,168,437
• Population (ZIP): 15,775

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: Majority Hispanic (63%)
• Race & ethnicity: Hispanic / Latino 63% Black 25% Two or more races 11% White 10% Asian 1%
• Hispanic origin (detail): Mexican 60%
• Common ancestry: Slovak 1% Italian 1%
• Foreign-born: 23% · Canada
• Languages at home: 47% English-only · Spanish 52% Vietnamese 1%

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: ▲ 4.17%
• Current HPI: 370.9766
• Rent YoY: —
• Metro: —
• 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

+211.3% since first listed

25 events — show timeline

• 2026-05-14 Contingent — NTREIS
• 2026-03-04 Price Changed $279,900 NTREIS
• 2026-02-13 Relisted — NTREIS
• 2026-02-10 Contingent — NTREIS
• 2026-01-29 Listed $289,900 NTREIS
• 2024-10-03 Sold (Public Records) — Public Records
• 2024-03-04 Sold (Public Records) — Public Records
• 2023-10-10 Sold (MLS) — NTREIS
• 2023-10-02 Pending — NTREIS
• 2023-09-28 Contingent — NTREIS
• 2023-09-17 Price Changed $369,000 NTREIS
• 2023-09-08 Price Changed $377,000 NTREIS
• 2023-09-05 Price Changed $389,700 NTREIS
• 2023-08-28 Price Changed $397,700 NTREIS
• 2023-08-21 Price Changed $430,000 NTREIS
• 2023-08-15 Listed $450,000 NTREIS
• 2017-04-05 Listing Removed — NTREIS
• 2016-11-08 Price Changed $245,000 NTREIS
• 2016-10-08 Listed $255,099 NTREIS
• 2015-11-03 Listing Removed — NTREIS
• 2015-05-26 Listed $200,000 NTREIS
• 2003-10-23 Listing Removed — NTREIS
• 2003-07-28 Listed $89,900 NTREIS
• 2000-11-16 Sold (Public Records) — Public Records
• 1985-12-09 Sold (Public Records) — Public Records

Property tax history

+7.5%/yr

Latest (2025): $8,694 · -0.4% YoY. Source: county tax records.