2047 Argyle Ave · Dallas, TX 75203

$350,000

3 bd · 2.5 ba · 3,353 sqft · SingleFamily public records · 48 Days on market

Built 1970 0.28 ac lot $104/sqft · 23% below area Est $457k · 23% under ↓ 7% 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
• Appreciation +10.0/10.0
• Cash flow +4.7/30.0
• Livability +4.0/5.0
• Schools +2.8/10.0
• Condition / age +2.5/5.0
• Rent growth +1.8/5.0
• 1% rule +1.4/10.0
• DSCR +0.0/10.0

Listing remarks MLS

Investor special in South Dallas near Cedar Crest Golf Course and the Dallas Zoo! This 5-bedroom, 3-bath home offers 3,353 sq ft on a spacious 0.28-acre lot and is already under construction with the kitchen and some bathrooms removed, creating the perfect blank slate for a full remodel. The flexible floor plan includes a large living room with fireplace, formal dining room, study, courtyard, separate laundry room, large converted garage area ideal for a game or media room, plus a private bedroom with a full bathroom and balcony above the garage. Outside, enjoy a long gated driveway with abundant parking, mature trees, and a large front yard. Located just 10 minutes from Downtown Dallas with easy access to restaurants, shopping, museums, and the Dallas Farmers Market, this property offers incredible upside potential for investors or buyers looking to create a custom home.

Key facts

• Formal dining room
• Private bedroom
• Flexible floor plan

Tags

• FLEXIBLE FLOOR PLAN
• LARGE LIVING ROOM
• FORMAL DINING ROOM
• SEPARATE LAUNDRY ROOM
• CONVERTED GARAGE AREA
• PRIVATE BEDROOM

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $350k.

Deal economics

• At list price, monthly cash flow is $-867 ($-10k/yr) — negative.
• To cash-flow at today's rent, offer at most $197k (43.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $225k (35.8% below list).
• Recommended offer: $197k (43.8% below list) — sets the bar for cash-flow.
• Cap rate 3.3% 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: William B Miller El (math 37% / reading 32%, grade F, #1,995 of 4,322 statewide, top 50%, 239 students, 98% FRL); John Lewis Social Justice Academy At O W Holmes (math 22% / reading 22%, grade F, #1,360 of 1,662 statewide, top 83%, 581 students, 100% FRL); Franklin D Roosevelt H S of Innovation (math 12% / reading 22%, grade F, #1,491 of 1,632 statewide, top 92%, 748 students, 96% FRL).
• Market conditions: Rents soft (-2.7%/yr); 147 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 12,577 units permitted in Dallas County in 2024 (6,829 in 5+ unit buildings).
• At $2,248/mo this rent would consume 57% of the median local household income ($47k/yr) (locally 948% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $37k of equity ($2k loan paydown + $35k appreciation (10.0% local appreciation)).
• Dallas County population projected at +35% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$60k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($340k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask is 8% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• 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 $196,839 (43.8% 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 48 days. Have you received any prior offers? Is the seller open to a 44% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 0.64% ✗
• Cap rate: 3.32%
• Cash-on-cash: -10.62%
• DSCR: 0.53
• GRM: 13.0

CMA / ARV

• ARV (median comp): $456,614
• List price: $350,000
• Delta: -23.35%
• Verdict: UNDERPRICED
• Comps: 18 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1621 Stella Ave	0.40mi	3/2.5	3,324 (-1%)	16mo	$325,000	$98	66
2035 Cedar Crest Blvd	0.20mi	4/3.0 (+1)	3,394 (+1%)	20mo	$599,000	$176	65
1410 Diceman Ave	0.56mi	4/3.5 (+1)	3,132 (-7%)	0mo	$444,900	$142	53
1326 Diceman Ave	0.58mi	4/3.5 (+1)	3,172 (-5%)	2mo	$449,900	$142	53

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

Projected returns pro-forma

10.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 16.1%
• Equity multiple: 2.32×
• Total profit: $128,984
• Equity at exit: $315,308

10-year hold

• IRR: 15.0%
• Equity multiple: 5.20×
• Total profit: $411,807
• Equity at exit: $679,973

Cash invested: $98,000 (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 75203

• Home prices YoY: 31.8%
• Rents YoY: -2.7%
• Active inventory: 147
• Price-to-rent: 13.0×

Monthly cashflow live

• Estimated rent: $2,248 medium
• Mortgage (P&I): −$1,835
• Tax from tax record: −$661 /mo · $7,937/yr
• Insurance: −$146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$472
• Net cashflow: $-867

Break-even live

Break-even rent $3,345

Max offer price $196,839

Occupancy floor —

Sensitivity live

Price	-10% $-669	-5% $-768	+0% $-867	+5% $-966	+10% $-1,065
Rent	-10% $-1,045	-5% $-956	+0% $-867	+5% $-778	+10% $-689
Rate	-1.0pp $-691	-0.5pp $-778	base $-867	+0.5pp $-958	+1.0pp $-1,050

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: $87,500
• Closing costs: $10,500
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
512 Avenue L Dallas, TX	3.0	4.0	2551	$3,400	$1.33	9d	1	1.22mi

Listing history 4 events

1. 2026-05-15
   historical Active Option Contract 884-char remark

   Show marketing remark (884 chars)

   Investor special in South Dallas near Cedar Crest Golf Course and the Dallas Zoo! This 5-bedroom, 3-bath home offers 3,353 sq ft on a spacious 0.28-acre lot and is already under construction with the kitchen and some bathrooms removed, creating the perfect blank slate for a full remodel. The flexible floor plan includes a large living room with fireplace, formal dining room, study, courtyard, separate laundry room, large converted garage area ideal for a game or media room, plus a private bedroom with a full bathroom and balcony above the garage. Outside, enjoy a long gated driveway with abundant parking, mature trees, and a large front yard. Located just 10 minutes from Downtown Dallas with easy access to restaurants, shopping, museums, and the Dallas Farmers Market, this property offers incredible upside potential for investors or buyers looking to create a custom home.

2. 2026-04-10
   historical
3. 2026-04-08
   listed $325,000 Active
4. 2026-04-07
   listed $350,000 Active 884-char remark

   Show marketing remark (884 chars)

   Investor special in South Dallas near Cedar Crest Golf Course and the Dallas Zoo! This 5-bedroom, 3-bath home offers 3,353 sq ft on a spacious 0.28-acre lot and is already under construction with the kitchen and some bathrooms removed, creating the perfect blank slate for a full remodel. The flexible floor plan includes a large living room with fireplace, formal dining room, study, courtyard, separate laundry room, large converted garage area ideal for a game or media room, plus a private bedroom with a full bathroom and balcony above the garage. Outside, enjoy a long gated driveway with abundant parking, mature trees, and a large front yard. Located just 10 minutes from Downtown Dallas with easy access to restaurants, shopping, museums, and the Dallas Farmers Market, this property offers incredible upside potential for investors or buyers looking to create a custom home.

ⓘ 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: $7,937 · $661/mo
• Projected year-2 tax: $7,937 · $661/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 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,972
• − Mortgage interest: −$19,605
• − Property taxes: −$7,937
• − Insurance: −$1,750
• − Repairs & maintenance: −$2,158
• − Management: −$2,158
• − Depreciation: −$10,182
• Taxable loss: −$16,818
• Est. tax savings @ 24.0%: +$4,036
• After-tax cash flow: $-6,368/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): 15,775
• Household income: $46,989
• Rent vs Own: 62.1% rent · 37.9% own
• Severe rent burden: 948.0

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 0.55)
• Race & ethnicity: Hispanic / Latino 59% Black 31% Two or more races 17% White 7% Native American 2%
• Hispanic origin (detail): Mexican 53%
• Common ancestry: Lithuanian 1% Swiss 1%
• Foreign-born: 29% · Canada, China, Jamaica
• Languages at home: 47% English-only · Spanish 51% French/Haitian/Cajun 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: ▲ 86.64%
• Current HPI: 358.9507
• Rent YoY: ▼ -2.72%
• 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

-7.1% since first listed

4 events — show timeline

• 2026-05-15 Contingent — NTREIS
• 2026-04-10 Listing Removed — NTREIS
• 2026-04-08 Listed $325,000 NTREIS
• 2026-04-07 Listed $350,000 NTREIS

Property tax history

+4.6%/yr

Latest (2025): $7,937 · -5.3% YoY. Source: county tax records.