223 S Cliff St · Dallas, TX 75203

$160,000

6 bd · 2.0 ba · 2,208 sqft · SingleFamily public records · 499 Days on market

Built 1925 8,494 sqft lot $72/sqft · 69% below area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Schools +2.8/10.0
• Condition / age +2.5/5.0
• Rent growth +1.8/5.0

Listing remarks MLS

This home was built in 1925. A two-story home with a big front porch on a huge lot with mature trees. Has original wood floors. Located Near Historic District Oak Cliff. Near Southern Gateway Deck Park. Currently zoned for planned development. Per the owner, the original structure had six (6) bedrooms. The buyer or buyer's agent must verify all measurements.

Key facts

• 8,494 sq ft lot
• Built 1925
• Listed 499 days

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $690 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $141k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.5% 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 soft (-2.7%/yr); 142 active listings in the ZIP; 12,577 units permitted in Dallas County in 2024 (6,829 in 5+ unit buildings).
• At $2,479/mo this rent would consume 63% 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 $17k of equity ($1k loan paydown + $16k appreciation (10.0% local appreciation)).
• Dallas County population projected at +35% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 0.0% rent growth), your $45k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 499 days — a 12% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 11y 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 2.7% 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→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $140,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 499 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 1925 — 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: 1.55% ✓
• Cap rate: 11.47%
• Cash-on-cash: 18.49%
• DSCR: 1.82
• GRM: 5.4

CMA / ARV

• ARV (median comp): $511,518
• List price: $160,000
• Delta: -68.72%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 36.4%
• Equity multiple: 3.77×
• Total profit: $123,973
• Equity at exit: $144,141

10-year hold

• IRR: 30.2%
• Equity multiple: 8.09×
• Total profit: $317,778
• Equity at exit: $310,845

Cash invested: $44,800 (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: 142
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $2,479 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$362 /mo · $4,346/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$521
• Net cashflow: $690

Break-even live

Break-even rent $1,605

Max offer price $160,000

Occupancy floor 67%

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Listing history 29 events

1. 2026-06-18
   days on market $160,000 Active 499 DOM
2. 2026-06-17
   days on market $160,000 Active 498 DOM
3. 2026-06-16
   days on market $160,000 Active 497 DOM
4. 2026-06-15
   days on market $160,000 Active 496 DOM
5. 2026-06-13
   days on market $160,000 Active 494 DOM
6. 2026-06-09
   days on market $160,000 Active 490 DOM
7. 2026-06-08
   days on market $160,000 Active 489 DOM
8. 2026-06-07
   days on market $160,000 Active 488 DOM
9. 2026-06-04
   days on market $160,000 Active 485 DOM
10. 2026-06-03
    days on market $160,000 Active 484 DOM
11. 2026-06-02
    days on market $160,000 Active 483 DOM
12. 2026-06-02
    days on market $160,000 Active 482 DOM
13. 2026-05-31
    days on market $160,000 Active 481 DOM
14. 2025-09-05
    status Active 363-char remark

    Show marketing remark (363 chars)

    This home was built in 1925. A two-story home with a big front porch on a huge lot with mature trees. Has original wood floors. Located Near Historic District Oak Cliff. Near Southern Gateway Deck Park. Currently zoned for planned development. Per the owner, the original structure had six (6) bedrooms. The buyer or buyer's agent must verify all measurements.

15. 2024-07-20
    status Pending 363-char remark

    Show marketing remark (363 chars)

    This home was built in 1925. A two-story home with a big front porch on a huge lot with mature trees. Has original wood floors. Located Near Historic District Oak Cliff. Near Southern Gateway Deck Park. Currently zoned for planned development. Per the owner, the original structure had six (6) bedrooms. The buyer or buyer's agent must verify all measurements.

16. 2023-12-20
    listed $160,000 Active 363-char remark

    Show marketing remark (363 chars)

    This home was built in 1925. A two-story home with a big front porch on a huge lot with mature trees. Has original wood floors. Located Near Historic District Oak Cliff. Near Southern Gateway Deck Park. Currently zoned for planned development. Per the owner, the original structure had six (6) bedrooms. The buyer or buyer's agent must verify all measurements.

17. 2023-12-09
    historical
18. 2023-03-08
    price $160,000
19. 2023-01-09
    listed $150,000 Active
20. 2022-12-31
    historical
21. 2021-06-02
    price $148,000
22. 2020-06-15
    listed $106,000 Active
23. 2020-05-14
    historical
24. 2018-10-18
    price $100,000
25. 2018-02-14
    listed $85,000 Active
26. 2017-12-29
    historical
27. 2016-05-26
    price $85,000
28. 2015-12-26
    listed $100,000 Active
29. 1976-08-17
    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: $4,346 · $362/mo
• Projected year-2 tax: $4,346 · $362/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 · 22 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: $29,743
• − Mortgage interest: −$8,962
• − Property taxes: −$4,346
• − Insurance: −$800
• − Repairs & maintenance: −$2,379
• − Management: −$2,379
• − Depreciation: −$4,655
• Taxable income: $6,221
• Est. tax owed @ 24.0%: −$1,493
• After-tax cash flow: $6,789/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

+60.0% since first listed

16 events — show timeline

• 2025-09-05 Relisted — NTREIS
• 2024-07-20 Pending — NTREIS
• 2023-12-20 Listed $160,000 NTREIS
• 2023-12-09 Listing Removed — NTREIS
• 2023-03-08 Price Changed $160,000 NTREIS
• 2023-01-09 Listed $150,000 NTREIS
• 2022-12-31 Listing Removed — NTREIS
• 2021-06-02 Price Changed $148,000 NTREIS
• 2020-06-15 Listed $106,000 NTREIS
• 2020-05-14 Listing Removed — NTREIS
• 2018-10-18 Price Changed $100,000 NTREIS
• 2018-02-14 Listed $85,000 NTREIS
• 2017-12-29 Listing Removed — NTREIS
• 2016-05-26 Price Changed $85,000 NTREIS
• 2015-12-26 Listed $100,000 NTREIS
• 1976-08-17 Sold (Public Records) — Public Records

Property tax history

+10.9%/yr

Latest (2025): $4,346 · -1.7% YoY. Source: county tax records.