518 Monarch Dr · Lancaster, TX 75146

$249,000

3 bd · 2.5 ba · 1,887 sqft · MultiFamily public records · 103 Days on market

Built 2002 5,227 sqft lot $132/sqft · 20% below area Est $311k · 20% 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 +11.1/30.0
• Appreciation +6.8/10.0
• 1% rule +4.4/10.0
• DSCR +3.2/10.0
• Rent growth +3.2/5.0
• Livability +3.1/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Located in a quiet cul-de-sac in Lancaster, this well-maintained half duplex offers space, functionality, and strong investment potential. The home features 3 bedrooms, 2 full bathrooms, two spacious living areas, and two dining areas, all designed with an open floor plan that provides comfortable living and easy flow for everyday life. The split-bedroom arrangement offers added privacy, with a generous primary suite that includes a large bathroom featuring a separate shower, relaxing garden tub, and walk-in closet. A two-car garage provides ample parking and storage. This property has been a reliable investment for several years and is currently tenant-occupied on a month-to-month lease, providing immediate rental income with flexibility for the next owner. Conveniently located with easy access to major commuting routes, shopping, and dining, this property presents an excellent opportunity for investors or buyers seeking a home with built-in income potential.

Key facts

• Open floor plan
• Quiet cul-de-sac
• Large bathroom

Tags

• QUIET CUL-DE-SAC
• OPEN FLOOR PLAN
• SPLIT-BEDROOM ARRANGEMENT
• GENEROUS PRIMARY SUITE
• LARGE BATHROOM
• SEPARATE SHOWER

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath multifamily listed at $249k.

Deal economics

• At list price, monthly cash flow is $-101 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $231k (7.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $234k (5.9% below list).
• Recommended offer: $227k (9.0% below list) — sets the bar for market timing.
• Cap rate 5.8% vs local median 4.8% in Lancaster — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 62/100 on livability (#926 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, schools D, crime F.
• Lancaster ISD (suburban): math 19% / reading 29% proficiency, ranked #714 of 826 in TX (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 78% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+3.0%/yr); 103 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 41% of the median local income ($68k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $11k of equity ($2k loan paydown + $9k appreciation (3.6% local appreciation)).
• Dallas County population projected at +35% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 4, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 103 days — a 9% lower offer ($227k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 13y ago; this cycle's ask has dropped $21k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.6% 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 $226,590 (9.0% 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 103 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. 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?
8. 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.
9. 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.
10. 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: 0.94% ✗
• Cap rate: 5.80%
• Cash-on-cash: -1.75%
• DSCR: 0.92
• GRM: 8.9

CMA / ARV

• ARV (median comp): $311,107
• List price: $249,000
• Delta: -19.96%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

3.57% appreciation · 2.96% rent growth · sell at horizon

5-year hold

• IRR: 7.6%
• Equity multiple: 1.45×
• Total profit: $31,272
• Equity at exit: $120,106

10-year hold

• IRR: 10.0%
• Equity multiple: 2.60×
• Total profit: $111,282
• Equity at exit: $191,696

Cash invested: $69,720 (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 75146

• Home prices YoY: 1.1%
• Rents YoY: 3.0%
• Active inventory: 103
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $2,344 high
• Mortgage (P&I): −$1,306
• Tax from tax record: −$544 /mo · $6,527/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$492
• Net cashflow: $-101

Break-even live

Break-even rent $2,473

Max offer price $231,072

Occupancy floor 99%

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: $62,250
• Closing costs: $7,470
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1910 Jasmine Dr Lancaster, TX	3.0	2.5	2183	$2,480	$1.14	24d	1	0.22mi
1450 Waldrop Dr Lancaster, TX	4.0	2.0	1946	$2,105	$1.08	20d	1	0.27mi
1450 Waldrop Dr Lancaster, TX	4.0	2.0	1946	$2,291	$1.18	43d	1	0.27mi
1934 Mosley Dr Lancaster, TX	4.0	2.0	1754	$2,099	$1.20	24d	1	0.33mi
1373 Oakbluff Dr Lancaster, TX	3.0	2.0	1289	$1,850	$1.44	2d	1	0.34mi
711 Lentisco Dr Lancaster, TX	4.0	2.0	2425	$2,249	$0.93	43d	1	0.43mi
1308 Devine Dr Lancaster, TX	4.0	2.0	1568	$2,350	$1.50	43d	1	0.57mi
1225 Oakbluff Dr Lancaster, TX	3.0	2.0	1335	$1,895	$1.42	3d	1	0.58mi
1217 Meadow Creek Dr Lancaster, TX	3.0	2.0	2088	$1,905	$0.91	7d	1	0.74mi
1217 Meadow Creek Dr Lancaster, TX	3.0	2.0	2088	$1,971	$0.94	12d	1	0.74mi
1125 Greenbriar Ln Lancaster, TX	3.0	2.0	1744	$1,825	$1.05	7d	1	0.74mi
610 Canvas Ct Lancaster, TX	4.0	2.0	1859	$2,210	$1.19	1d	1	0.76mi
610 Canvas Ct Lancaster, TX	4.0	2.0	1859	$2,276	$1.22	7d	1	0.76mi
1218 Jewell Ln Lancaster, TX	4.0	2.0	1854	$2,071	$1.12	7d	1	0.83mi
1215 Jessie Ln Lancaster, TX	4.0	2.5	2279	$2,296	$1.01	12d	1	0.83mi
1109 Harvest Hill Ln Lancaster, TX	3.0	2.5	2006	$2,350	$1.17	7d	1	0.85mi
1623 Venus Dr E Lancaster, TX	3.0	2.5	2339	$2,345	$1.00	12d	1	0.88mi
1424 Chapman Dr Lancaster, TX	3.0	2.0	1820	$2,099	$1.15	24d	1	1.00mi
1226 Linkwood Ln Lancaster, TX	4.0	2.0	1700	$2,500	$1.47	1d	1	1.09mi
1555 Willowbrook St Lancaster, TX	3.0	2.0	1544	$1,759	$1.14	21d	1	1.13mi
422 Ash Ln Lancaster, TX	3.0	2.0	1651	$1,995	$1.21	24d	1	1.17mi
900 Diann Cir Lancaster, TX	3.0	2.0	2247	$2,455	$1.09	1d	1	1.19mi
830 Bordner Dr Lancaster, TX	3.0	2.0	1821	$2,300	$1.26	12d	1	1.20mi
1534 Chapman Dr Lancaster, TX	4.0	2.5	2612	$2,700	$1.03	43d	1	1.23mi
1534 Chapman Dr Lancaster, TX	4.0	2.0	2612	$2,700	$1.03	19d	1	1.23mi
2720 Wild Grove Ln Lancaster, TX	4.0	2.0	1733	$8,750	$5.05	43d	1	1.23mi
2720 Wild Grove Ln Unit 1340976P Lancaster, TX	4.0	2.0	1732	$15,834	$9.14	21d	1	1.23mi
111 Palm Dr Lancaster, TX	3.0	2.0	1931	$2,199	$1.14	5d	1	1.27mi
134 Rolling Hills Pl Lancaster, TX	3.0	2.5	2544	$1,500	$0.59	44d	1	1.29mi
2900 Ocean Dr Lancaster, TX	3.0	2.0	2520	$2,201	$0.87	18d	1	1.31mi
1605 N Houston School Rd Lancaster, TX	2.0–4.0	2.0	1125	$2,412	$2.14	1d	39	1.34mi
1532 Linda Ln Lancaster, TX	3.0	2.0	1380	$2,000	$1.45	24d	1	1.34mi
1811 Kings Cross Dr Lancaster, TX	4.0	2.0	1812	$2,200	$1.21	24d	1	1.35mi
176 Palm Dr Lancaster, TX	3.0	2.0	2014	$2,200	$1.09	21d	1	1.36mi
1533 Prescott Dr Lancaster, TX	3.0	2.0	1500	$1,975	$1.32	4d	1	1.37mi
2827 Saint Martin Dr Lancaster, TX	3.0	2.0	1421	$2,400	$1.69	43d	1	1.37mi
2843 Saint Johns Ave Lancaster, TX	3.0	2.5	1532	$2,095	$1.37	5d	1	1.38mi
2843 Saint Johns Ave Lancaster, TX	3.0	2.0	1532	$2,250	$1.47	43d	1	1.38mi
1563 Nottingham Dr Lancaster, TX	4.0	2.0	1894	$2,299	$1.21	24d	1	1.41mi
2858 Saint Thomas Ln Lancaster, TX	3.0	2.0	1530	$1,950	$1.27	24d	1	1.42mi

Listing history 27 events

1. 2026-06-18
   days on market $249,000 Active 103 DOM
2. 2026-06-17
   days on market $249,000 Active 102 DOM
3. 2026-06-16
   days on market $249,000 Active 101 DOM
4. 2026-06-15
   days on market $249,000 Active 100 DOM
5. 2026-06-13
   pricedays on market $249,000 Active 98 DOM
6. 2026-06-09
   days on market $259,900 Active 94 DOM
7. 2026-06-08
   days on market $259,900 Active 93 DOM
8. 2026-06-07
   days on market $259,900 Active 92 DOM
9. 2026-06-04
   days on market $259,900 Active 89 DOM
10. 2026-06-03
    days on market $259,900 Active 88 DOM
11. 2026-06-02
    days on market $259,900 Active 87 DOM
12. 2026-06-01
    days on market $259,900 Active 86 DOM
13. 2026-05-31
    days on market $259,900 Active 85 DOM
14. 2026-05-05
    price $264,900 977-char remark

    Show marketing remark (977 chars)

    Located in a quiet cul-de-sac in Lancaster, this well-maintained half duplex offers space, functionality, and strong investment potential. The home features 3 bedrooms, 2 full bathrooms, two spacious living areas, and two dining areas, all designed with an open floor plan that provides comfortable living and easy flow for everyday life. The split-bedroom arrangement offers added privacy, with a generous primary suite that includes a large bathroom featuring a separate shower, relaxing garden tub, and walk-in closet. A two-car garage provides ample parking and storage. This property has been a reliable investment for several years and is currently tenant-occupied on a month-to-month lease, providing immediate rental income with flexibility for the next owner. Conveniently located with easy access to major commuting routes, shopping, and dining, this property presents an excellent opportunity for investors or buyers seeking a home with built-in income potential.

15. 2026-03-07
    listed $269,900 Active 977-char remark

    Show marketing remark (977 chars)

    Located in a quiet cul-de-sac in Lancaster, this well-maintained half duplex offers space, functionality, and strong investment potential. The home features 3 bedrooms, 2 full bathrooms, two spacious living areas, and two dining areas, all designed with an open floor plan that provides comfortable living and easy flow for everyday life. The split-bedroom arrangement offers added privacy, with a generous primary suite that includes a large bathroom featuring a separate shower, relaxing garden tub, and walk-in closet. A two-car garage provides ample parking and storage. This property has been a reliable investment for several years and is currently tenant-occupied on a month-to-month lease, providing immediate rental income with flexibility for the next owner. Conveniently located with easy access to major commuting routes, shopping, and dining, this property presents an excellent opportunity for investors or buyers seeking a home with built-in income potential.

16. 2023-06-21
    soldstatus
17. 2023-06-21
    soldstatus
18. 2018-11-27
    soldstatus
19. 2018-11-19
    soldstatus Sold 365-char remark

    Show marketing remark (365 chars)

    All investor welcome to this Price way below the market beautiful half duplex is nestled away in a nice CUL-DE-SAC. Features include are 3 bedrooms, 2 large living areas, 2 dining areas, 2 car garage, open floor plan, split bedroom arrangement, large master bathroom with separate shower and garden tub, walk in closet, beautiful title flooring. Need some few work.

20. 2018-11-08
    status Pending 365-char remark

    Show marketing remark (365 chars)

    All investor welcome to this Price way below the market beautiful half duplex is nestled away in a nice CUL-DE-SAC. Features include are 3 bedrooms, 2 large living areas, 2 dining areas, 2 car garage, open floor plan, split bedroom arrangement, large master bathroom with separate shower and garden tub, walk in closet, beautiful title flooring. Need some few work.

21. 2018-10-31
    listed $130,000 Active 365-char remark

    Show marketing remark (365 chars)

    All investor welcome to this Price way below the market beautiful half duplex is nestled away in a nice CUL-DE-SAC. Features include are 3 bedrooms, 2 large living areas, 2 dining areas, 2 car garage, open floor plan, split bedroom arrangement, large master bathroom with separate shower and garden tub, walk in closet, beautiful title flooring. Need some few work.

22. 2014-07-11
    soldstatus
23. 2013-11-21
    soldstatus
24. 2013-11-18
    soldstatus Closed
25. 2013-10-30
    price $110,000
26. 2013-10-16
    status Pending
27. 2013-10-04
    listed $108,000 Active

ⓘ 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: $6,527 · $544/mo
• Projected year-2 tax: $6,527 · $544/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 4/10 Moderate
• 🌡 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 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,131
• − Mortgage interest: −$13,948
• − Property taxes: −$6,527
• − Insurance: −$1,245
• − Repairs & maintenance: −$2,250
• − Management: −$2,250
• − Depreciation: −$7,244
• Taxable loss: −$5,333
• Est. tax savings @ 24.0%: +$1,280
• After-tax cash flow: $62/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: Lancaster ISD
• NCES district ID: 4826670
• Math proficiency: 19% ▼ -29.00%
• Reading proficiency: 29% ▼ -11.00%
• Median HH income: $52,275
• Composite: 21.41/100
• National rank: #8349
• State rank: #714 of 826 in TX

Livability — Lancaster

• Score: 62/100
• State rank: #926
• US rank: #16461

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment C- Housing A+ Health & safety F User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lancaster, TX
• County: Dallas County · 2,612,404 people
• City population: 44,142
• Metro: Dallas-Fort Worth-Arlington, TX
• Population (ZIP): 25,097
• Household income: $68,071
• Rent vs Own: 43.2% rent · 56.8% own
• Severe rent burden: 1462.0

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 0.57)
• Race & ethnicity: Black 60% Hispanic / Latino 26% Two or more races 12% White 11%
• Hispanic origin (detail): Mexican 20% Puerto Rican 2%
• Common ancestry: Italian 2%
• Foreign-born: 7% · Canada
• Languages at home: 80% English-only · Spanish 20%

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: ▲ 3.57%
• Current HPI: 316.7295
• Rent YoY: ▲ 2.96%
• 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

+145.3% since first listed

14 events — show timeline

• 2026-05-05 Price Changed $264,900 NTREIS
• 2026-03-07 Listed $269,900 NTREIS
• 2023-06-21 Sold (Public Records) — Public Records
• 2023-06-21 Sold (Public Records) — Public Records
• 2018-11-27 Sold (Public Records) — Public Records
• 2018-11-19 Sold (MLS) — NTREIS
• 2018-11-08 Pending — NTREIS
• 2018-10-31 Listed $130,000 NTREIS
• 2014-07-11 Sold (Public Records) — Public Records
• 2013-11-21 Sold (Public Records) — Public Records
• 2013-11-18 Sold (MLS) — NTREIS
• 2013-10-30 Price Changed $110,000 NTREIS
• 2013-10-16 Pending — NTREIS
• 2013-10-04 Listed $108,000 NTREIS

Property tax history

+4.5%/yr

Latest (2025): $6,527 · -2.2% YoY. Source: county tax records.