2315 Moser Ave · Dallas, TX 75206

$10,500,000

None bd · None ba · 11,635 sqft · MultiFamily public records · 101 Days on market

Built 1986 1.17 ac lot

---

Why this score? — see what drove the B- 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
• DSCR +10.0/10.0
• 1% rule +8.6/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Rent growth +2.8/5.0
• Schools +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 64 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Moser Gardens Greenville West is a 64-unit apartment community located in the highly sought-after Knox-Henderson neighborhood of Dallas, TX—one of the city’s most active corridors for new development. As entry-level housing inventory tightens in the area, this property is uniquely positioned to capture strong tenant demand. Situated on over 51,000 square feet, the property consists of three garden-style buildings with pitched roofs, gated assigned parking, and an onsite leasing office. Community amenities include a newly resurfaced pool and controlled access. Units feature in-unit laundry, wood-burning fireplaces, walk-in closets, and private balconies. Select units have been modernized with updated kitchens and bathrooms, new flooring, and recessed lighting, enhancing long-term rental upside.

Key facts

• Private balconies
• Walk in closets
• In unit laundry

Tags

• GATED ASSIGNED PARKING
• NEWLY RESURFACED POOL
• IN UNIT LAUNDRY
• WOOD BURNING FIREPLACES
• WALK IN CLOSETS
• PRIVATE BALCONIES

What this means for you Summary

Snapshot

• This is a 64 × 1-bed/1-bath units multifamily listed at $10.50M.

Deal economics

• At list price, monthly cash flow is $42k ($507k/yr) — positive. Per door: $660/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($143k rent vs $10.50M).
• Recommended offer: $9.55M (9.0% below list) — sets the bar for market timing.
• Cap rate 11.1% 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: 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: Rents rising (+1.3%/yr); 341 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 1d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 12,577 units permitted in Dallas County in 2024 (6,829 in 5+ unit buildings).
• At $143,240/mo this rent would consume 1888% of the median local household income ($91k/yr) (locally 2983% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $73k of loan paydown is wiped out by about $315k 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.
• At projected returns (-3.0% appreciation + 1.3% rent growth), your $2.94M cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 101 days — a 9% lower offer ($9.55M) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• 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 $9,555,000 (9.0% below list)

Questions for the listing agent

1. It's been on market 101 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
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 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: 1.36% ✓
• Cap rate: 11.12%
• Cash-on-cash: 17.23%
• DSCR: 1.77
• GRM: 6.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.26% rent growth · sell at horizon

5-year hold

• IRR: 6.6%
• Equity multiple: 1.25×
• Total profit: $742,011
• Equity at exit: $1,565,584

10-year hold

• IRR: 14.4%
• Equity multiple: 2.07×
• Total profit: $3,136,361
• Equity at exit: $907,848

Cash invested: $2,940,000 (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 75206

• Rents YoY: 1.3%
• Active inventory: 341
• Price-to-rent: 391.0×

Monthly cashflow live

• Estimated rent: $143,240 high
• Mortgage (P&I): −$55,063
• Tax from tax record: −$11,505 /mo · $138,056/yr
• Insurance: −$4,375
• HOA: −$0
• Vacancy / Maint / Mgmt: −$30,080
• Net cashflow: $42,217

Break-even live

Break-even rent $89,801

Max offer price $10,500,000

Occupancy floor 66%

Sensitivity live

Price	-10% $48,161	-5% $45,189	+0% $42,217	+5% $39,245	+10% $36,273
Rent	-10% $30,901	-5% $36,559	+0% $42,217	+5% $47,875	+10% $53,533
Rate	-1.0pp $47,505	-0.5pp $44,887	base $42,217	+0.5pp $39,496	+1.0pp $36,728

64-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 64× units	1	1	$143,232
Total (64 units)			$143,240

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: $2,625,000
• Closing costs: $315,000
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4903 Worth St Dallas, TX	1.0–2.0	1.0	8072	$4,507	$0.56	0d	2	1.17mi
4903 Worth St Unit 1571767P Dallas, TX	1.0	1.0	8072	$2,940	$0.36	0d	1	1.17mi
6006 Swiss Ave Unit 1572005P Dallas, TX	2.0	1.5	10225	$3,797	$0.37	0d	1	1.23mi
6011 Gaston Ave Unit 1571818P Dallas, TX	1.0	1.5	10225	$3,522	$0.34	0d	1	1.27mi
6011 Gaston Ave Unit 1309589P Dallas, TX	1.0–2.0	1.5	5586	$3,585	$0.64	0d	2	1.27mi
6015 Gaston Ave Unit 1571784P Dallas, TX	2.0	1.5	10763	$4,217	$0.39	0d	1	1.29mi

Listing history 15 events

1. 2026-06-21
   days on market $10,500,000 Active 101 DOM
2. 2026-06-18
   days on market $10,500,000 Active 98 DOM
3. 2026-06-17
   days on market $10,500,000 Active 97 DOM
4. 2026-06-16
   days on market $10,500,000 Active 96 DOM
5. 2026-06-15
   days on market $10,500,000 Active 95 DOM
6. 2026-06-13
   days on market $10,500,000 Active 93 DOM
7. 2026-06-09
   days on market $10,500,000 Active 89 DOM
8. 2026-06-08
   days on market $10,500,000 Active 88 DOM
9. 2026-06-07
   days on market $10,500,000 Active 87 DOM
10. 2026-06-04
    days on market $10,500,000 Active 84 DOM
11. 2026-06-03
    days on market $10,500,000 Active 83 DOM
12. 2026-06-02
    days on market $10,500,000 Active 82 DOM
13. 2026-06-02
    days on market $10,500,000 Active 81 DOM
14. 2026-05-31
    days on market $10,500,000 Active 80 DOM
15. 2026-03-12
    listed $10,500,000 Active 816-char remark

    Show marketing remark (816 chars)

    Moser Gardens Greenville West is a 64-unit apartment community located in the highly sought-after Knox-Henderson neighborhood of Dallas, TX—one of the city’s most active corridors for new development. As entry-level housing inventory tightens in the area, this property is uniquely positioned to capture strong tenant demand. Situated on over 51,000 square feet, the property consists of three garden-style buildings with pitched roofs, gated assigned parking, and an onsite leasing office. Community amenities include a newly resurfaced pool and controlled access. Units feature in-unit laundry, wood-burning fireplaces, walk-in closets, and private balconies. Select units have been modernized with updated kitchens and bathrooms, new flooring, and recessed lighting, enhancing long-term rental upside.

ⓘ 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: $138,056 · $11,505/mo
• Projected year-2 tax: $192,150 · $16,012/mo
• Expected delta: +$54,094/yr (+$4,508/mo · 39.2%)

ⓘ 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 · 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: $1,718,880
• − Mortgage interest: −$588,163
• − Property taxes: −$138,056
• − Insurance: −$52,500
• − Repairs & maintenance: −$137,510
• − Management: −$137,510
• − Depreciation: −$305,455
• Taxable income: $359,685
• Est. tax owed @ 24.0%: −$86,324
• After-tax cash flow: $420,277/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): 38,909
• Household income: $91,023
• Rent vs Own: 73.0% rent · 27.0% own
• Severe rent burden: 2983.0

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: White 64% Hispanic / Latino 14% Two or more races 10% Asian 9% Black 8%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Lithuanian 3% Slovak 3% Romanian 2%
• Foreign-born: 14% · Canada, China, South Korea
• Languages at home: 81% English-only · Spanish 9% Other Indo-European 4% Chinese 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: ▼ -852.92%
• Current HPI: 302.4367
• Rent YoY: ▲ 1.26%
• 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

1 event — show timeline

• 2026-03-12 Listed $10,500,000 NTREIS

Property tax history

+9.0%/yr

Latest (2025): $138,056 · +1.6% YoY. Source: county tax records.