1967 Leath St · Dallas, TX 75212

$567,400

4 bd · 2.5 ba · 2,608 sqft · Land · 167 Days on market

Built 2025 4,879 sqft lot $218/sqft · 9% below area Est $625k · 9% under ↓ 15% 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 +11.6/15.0
• Appreciation +10.0/10.0
• Cash flow +8.1/30.0
• Livability +4.0/5.0
• Schools +2.8/10.0
• Condition / age +2.5/5.0
• DSCR +2.2/10.0
• 1% rule +1.5/10.0
• Rent growth +1.4/5.0

Listing remarks MLS

Your dream home is calling—can you hear it? Imagine stepping into a modern 2-story haven, complete with 4 spacious bedrooms, 2.5 elegant baths, and a 2-car garage that’s as functional as it is stylish. This home isn’t just a house—it’s a masterpiece designed for comfort, convenience, and contemporary living. From the moment you walk through the doors, you’ll feel the blend of modern design and timeless warmth. It’s the perfect place to create memories, host gatherings, or simply unwind after a long day. This isn’t just where you’ll live—it’s where you’ll thrive. Buyers agent and buyer to verify all information provided for accuracy.

Key facts

• 4,879 sq ft lot
• 2 garage spots
• Built 2025

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath land listed at $567k.

Deal economics

• At list price, monthly cash flow is $-543 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $471k (16.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $368k (35.1% below list).
• Recommended offer: $368k (35.1% below list) — sets the bar for 1% rule.
• Cap rate 5.1% 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: 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: C F Carr El (math 32% / reading 22%, grade F, #2,791 of 4,322 statewide, top 68%, 281 students, 99% FRL); D A Hulcy Steam Middle (math 33% / reading 32%, grade F, #947 of 1,662 statewide, top 58%, 423 students, 88% FRL); L G Pinkston H S (math 10% / reading 21%, grade F, #1,505 of 1,632 statewide, top 92%, 1,139 students, 92% FRL).
• Market conditions: Rents falling (-4.2%/yr); 249 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 45% of comp listings sitting > 30 days — soft ceiling on asking rent; 12,577 units permitted in Dallas County in 2024 (6,829 in 5+ unit buildings).
• At $3,684/mo this rent would consume 74% of the median local household income ($60k/yr) (locally 892% 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 $61k of equity ($4k loan paydown + $57k 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 ~$98k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 167 days — a 12% lower offer ($499k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $101k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major flood risk; 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 $368,388 (35.1% 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 167 days. Have you received any prior offers? Is the seller open to a 35% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 0.65% ✗
• Cap rate: 5.14%
• Cash-on-cash: -4.10%
• DSCR: 0.82
• GRM: 12.8

CMA / ARV

• ARV (median comp): $624,871
• List price: $567,400
• Delta: -9.20%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 20.6%
• Equity multiple: 2.66×
• Total profit: $263,395
• Equity at exit: $511,159

10-year hold

• IRR: 18.2%
• Equity multiple: 5.93×
• Total profit: $783,071
• Equity at exit: $1,102,333

Cash invested: $158,872 (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 75212

• Rents YoY: -4.2%
• Active inventory: 249
• Price-to-rent: 12.8×

Monthly cashflow live

• Estimated rent: $3,684 high
• Mortgage (P&I): −$2,976
• Tax from tax record: −$242 /mo · $2,899/yr
• Insurance: −$236
• HOA: −$0
• Vacancy / Maint / Mgmt: −$774
• Net cashflow: $-543

Break-even live

Break-even rent $4,371

Max offer price $471,438

Occupancy floor —

Sensitivity live

Price	-10% $-222	-5% $-383	+0% $-543	+5% $-704	+10% $-864
Rent	-10% $-834	-5% $-689	+0% $-543	+5% $-398	+10% $-252
Rate	-1.0pp $-257	-0.5pp $-399	base $-543	+0.5pp $-690	+1.0pp $-840

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: $141,850
• Closing costs: $17,022
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4022 Ivanhoe Ln Dallas, TX	4.0	2.5	2042	$2,795	$1.37	45d	1	0.19mi
2043 Life Ave Dallas, TX	3.0	3.0	2545	$3,950	$1.55	0d	1	0.28mi
3807 Vilbig Rd Dallas, TX	3.0	2.5	2000	$5,500	$2.75	45d	1	0.29mi
1916 Shaw St Dallas, TX	4.0	3.0	2283	$2,675	$1.17	21d	1	0.35mi
4022 Cedar Elm Ln Dallas, TX	4.0	2.5	2860	$2,700	$0.94	25d	1	0.52mi
1526 Life Ave Dallas, TX	5.0	4.0	3300	$6,500	$1.97	45d	1	0.53mi
3525 Rutz St Dallas, TX	3.0	2.5	2451	$4,000	$1.63	9d	1	0.55mi
3237 Chihuahua Ave Dallas, TX	4.0	2.5	2251	$4,500	$2.00	45d	1	0.71mi
1958 Toronto St Dallas, TX	4.0	3.0	3049	$4,700	$1.54	45d	1	0.74mi
3129 Rutz St Dallas, TX	4.0	2.5	2102	$7,850	$3.73	45d	1	0.79mi
3129 Rutz St Unit 1241909P Dallas, TX	4.0	2.5	2098	$9,353	$4.46	23d	1	0.79mi
3122 Chihuahua Ave Unit 1510240P Dallas, TX	4.0	3.0	2174	$5,369	$2.47	0d	1	0.81mi
3105 Chihuahua Ave Dallas, TX	4.0	2.5	2214	$3,200	$1.45	16d	1	0.82mi
2815 Harston St Unit 2815 Dallas, TX	3.0	2.5	2800	$3,800	$1.36	12d	1	0.91mi
2811 Harston St Dallas, TX	3.0	2.0	1937	$2,950	$1.52	45d	1	0.92mi
2806 Chicago St Dallas, TX	4.0	3.5	1976	$2,900	$1.47	25d	1	1.07mi
2635 Carmelita St Dallas, TX	3.0	3.5	2237	$3,399	$1.52	25d	1	1.09mi
2654 Carolwood Ln Dallas, TX	3.0	3.5	2174	$3,500	$1.61	45d	1	1.10mi
829 Nomas St Dallas, TX	4.0	3.5	2660	$4,500	$1.69	45d	1	1.10mi
2633 La Altura Ln Dallas, TX	3.0	3.5	2170	$3,650	$1.68	14d	1	1.12mi
2601 La Altura Ln Dallas, TX	3.0	3.5	2233	$4,200	$1.88	45d	1	1.14mi
3232 Peyton Lila Rd Dallas, TX	4.0	2.5	2000	$2,495	$1.25	9d	1	1.14mi
1130 Tea Olive Ln Dallas, TX	3.0	2.5	1751	$3,000	$1.71	45d	1	1.17mi
1190 Manacor Ln Dallas, TX	3.0	3.5	1849	$2,999	$1.62	14d	1	1.18mi
1115 Manacor Ln Dallas, TX	3.0	2.5	1827	$3,200	$1.75	25d	1	1.19mi
1040 Tea Olive Ln Dallas, TX	3.0	3.5	2326	$3,800	$1.63	5d	1	1.20mi
1849 Pollard St Dallas, TX	4.0	4.5	2438	$3,995	$1.64	45d	1	1.26mi
909 Bayonne St Dallas, TX	4.0	3.5	2300	$4,300	$1.87	45d	1	1.33mi
937 Muncie Ave Unit 937 Dallas, TX	4.0	5.0	3000	$6,200	$2.07	9d	1	1.33mi
935 Muncie Ave Unit 935 Dallas, TX	5.0	5.0	3000	$6,700	$2.23	9d	1	1.33mi
3421 Nomas St Dallas, TX	5.0	3.0	2375	$8,250	$3.47	23d	1	1.46mi
3319 Wake St Dallas, TX	5.0	3.5	3665	$6,500	$1.77	45d	1	1.47mi
3210 Herbert St Dallas, TX	5.0	4.0	3200	$6,500	$2.03	45d	1	1.48mi

Listing history 29 events

1. 2026-06-21
   days on market $567,400 Active 167 DOM
2. 2026-06-18
   days on market $567,400 Active 164 DOM
3. 2026-06-17
   days on market $567,400 Active 163 DOM
4. 2026-06-16
   days on market $567,400 Active 162 DOM
5. 2026-06-15
   days on market $567,400 Active 161 DOM
6. 2026-06-13
   days on market $567,400 Active 159 DOM
7. 2026-06-10
   price $567,400 Active 155 DOM
8. 2026-06-09
   days on market $569,900 Active 155 DOM
9. 2026-06-08
   days on market $569,900 Active 154 DOM
10. 2026-06-07
    days on market $569,900 Active 153 DOM
11. 2026-06-04
    days on market $569,900 Active 150 DOM
12. 2026-06-03
    days on market $569,900 Active 149 DOM
13. 2026-06-02
    days on market $569,900 Active 148 DOM
14. 2026-06-02
    days on market $569,900 Active 147 DOM
15. 2026-05-31
    days on market $569,900 Active 146 DOM
16. 2026-05-13
    price $569,900 712-char remark

    Show marketing remark (712 chars)

    Your dream home is calling—can you hear it? Imagine stepping into a modern 2-story haven, complete with 4 spacious bedrooms, 2.5 elegant baths, and a 2-car garage that’s as functional as it is stylish. This home isn’t just a house—it’s a masterpiece designed for comfort, convenience, and contemporary living. From the moment you walk through the doors, you’ll feel the blend of modern design and timeless warmth. It’s the perfect place to create memories, host gatherings, or simply unwind after a long day. This isn’t just where you’ll live—it’s where you’ll thrive. Buyers agent and buyer to verify all information provided for accuracy.

17. 2026-05-02
    price $600,400 712-char remark

    Show marketing remark (712 chars)

    Your dream home is calling—can you hear it? Imagine stepping into a modern 2-story haven, complete with 4 spacious bedrooms, 2.5 elegant baths, and a 2-car garage that’s as functional as it is stylish. This home isn’t just a house—it’s a masterpiece designed for comfort, convenience, and contemporary living. From the moment you walk through the doors, you’ll feel the blend of modern design and timeless warmth. It’s the perfect place to create memories, host gatherings, or simply unwind after a long day. This isn’t just where you’ll live—it’s where you’ll thrive. Buyers agent and buyer to verify all information provided for accuracy.

18. 2026-04-09
    price $599,900 712-char remark

    Show marketing remark (712 chars)

    Your dream home is calling—can you hear it? Imagine stepping into a modern 2-story haven, complete with 4 spacious bedrooms, 2.5 elegant baths, and a 2-car garage that’s as functional as it is stylish. This home isn’t just a house—it’s a masterpiece designed for comfort, convenience, and contemporary living. From the moment you walk through the doors, you’ll feel the blend of modern design and timeless warmth. It’s the perfect place to create memories, host gatherings, or simply unwind after a long day. This isn’t just where you’ll live—it’s where you’ll thrive. Buyers agent and buyer to verify all information provided for accuracy.

19. 2026-03-26
    price $619,499 712-char remark

    Show marketing remark (712 chars)

    Your dream home is calling—can you hear it? Imagine stepping into a modern 2-story haven, complete with 4 spacious bedrooms, 2.5 elegant baths, and a 2-car garage that’s as functional as it is stylish. This home isn’t just a house—it’s a masterpiece designed for comfort, convenience, and contemporary living. From the moment you walk through the doors, you’ll feel the blend of modern design and timeless warmth. It’s the perfect place to create memories, host gatherings, or simply unwind after a long day. This isn’t just where you’ll live—it’s where you’ll thrive. Buyers agent and buyer to verify all information provided for accuracy.

20. 2026-02-25
    price $629,900 712-char remark

    Show marketing remark (712 chars)

    Your dream home is calling—can you hear it? Imagine stepping into a modern 2-story haven, complete with 4 spacious bedrooms, 2.5 elegant baths, and a 2-car garage that’s as functional as it is stylish. This home isn’t just a house—it’s a masterpiece designed for comfort, convenience, and contemporary living. From the moment you walk through the doors, you’ll feel the blend of modern design and timeless warmth. It’s the perfect place to create memories, host gatherings, or simply unwind after a long day. This isn’t just where you’ll live—it’s where you’ll thrive. Buyers agent and buyer to verify all information provided for accuracy.

21. 2026-02-06
    price $648,900 712-char remark

    Show marketing remark (712 chars)

    Your dream home is calling—can you hear it? Imagine stepping into a modern 2-story haven, complete with 4 spacious bedrooms, 2.5 elegant baths, and a 2-car garage that’s as functional as it is stylish. This home isn’t just a house—it’s a masterpiece designed for comfort, convenience, and contemporary living. From the moment you walk through the doors, you’ll feel the blend of modern design and timeless warmth. It’s the perfect place to create memories, host gatherings, or simply unwind after a long day. This isn’t just where you’ll live—it’s where you’ll thrive. Buyers agent and buyer to verify all information provided for accuracy.

22. 2026-01-07
    price $668,800 712-char remark

    Show marketing remark (712 chars)

    Your dream home is calling—can you hear it? Imagine stepping into a modern 2-story haven, complete with 4 spacious bedrooms, 2.5 elegant baths, and a 2-car garage that’s as functional as it is stylish. This home isn’t just a house—it’s a masterpiece designed for comfort, convenience, and contemporary living. From the moment you walk through the doors, you’ll feel the blend of modern design and timeless warmth. It’s the perfect place to create memories, host gatherings, or simply unwind after a long day. This isn’t just where you’ll live—it’s where you’ll thrive. Buyers agent and buyer to verify all information provided for accuracy.

23. 2026-01-07
    price $619,800 712-char remark

    Show marketing remark (712 chars)

    Your dream home is calling—can you hear it? Imagine stepping into a modern 2-story haven, complete with 4 spacious bedrooms, 2.5 elegant baths, and a 2-car garage that’s as functional as it is stylish. This home isn’t just a house—it’s a masterpiece designed for comfort, convenience, and contemporary living. From the moment you walk through the doors, you’ll feel the blend of modern design and timeless warmth. It’s the perfect place to create memories, host gatherings, or simply unwind after a long day. This isn’t just where you’ll live—it’s where you’ll thrive. Buyers agent and buyer to verify all information provided for accuracy.

24. 2026-01-05
    listed $668,800 Active 712-char remark

    Show marketing remark (712 chars)

    Your dream home is calling—can you hear it? Imagine stepping into a modern 2-story haven, complete with 4 spacious bedrooms, 2.5 elegant baths, and a 2-car garage that’s as functional as it is stylish. This home isn’t just a house—it’s a masterpiece designed for comfort, convenience, and contemporary living. From the moment you walk through the doors, you’ll feel the blend of modern design and timeless warmth. It’s the perfect place to create memories, host gatherings, or simply unwind after a long day. This isn’t just where you’ll live—it’s where you’ll thrive. Buyers agent and buyer to verify all information provided for accuracy.

25. 2025-12-19
    historical
26. 2025-12-13
    listed $668,800 Active
27. 2025-04-10
    soldstatus
28. 2024-02-21
    soldstatus
29. 2024-02-21
    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: $2,899 · $242/mo
• Projected year-2 tax: $10,383 · $865/mo
• Expected delta: +$7,485/yr (+$624/mo · 258.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X · 72% 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 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $44,207
• − Mortgage interest: −$31,783
• − Property taxes: −$2,899
• − Insurance: −$2,837
• − Repairs & maintenance: −$3,537
• − Management: −$3,537
• − Depreciation: −$16,506
• Taxable loss: −$16,892
• Est. tax savings @ 24.0%: +$4,054
• After-tax cash flow: $-2,465/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): 28,259
• Household income: $59,750
• Rent vs Own: 43.6% rent · 56.4% own
• Severe rent burden: 892.0

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: Predominantly Hispanic (67%)
• Race & ethnicity: Hispanic / Latino 67% Two or more races 26% Black 23% White 6% Asian 2%
• Hispanic origin (detail): Mexican 55%
• Common ancestry: Slovak 1%
• Foreign-born: 27% · Canada, Vietnam, Jamaica
• Languages at home: 42% 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: ▲ 138.69%
• Current HPI: 477.2035
• Rent YoY: ▼ -4.21%
• 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

-14.8% since first listed

14 events — show timeline

• 2026-05-13 Price Changed $569,900 NTREIS
• 2026-05-02 Price Changed $600,400 NTREIS
• 2026-04-09 Price Changed $599,900 NTREIS
• 2026-03-26 Price Changed $619,499 NTREIS
• 2026-02-25 Price Changed $629,900 NTREIS
• 2026-02-06 Price Changed $648,900 NTREIS
• 2026-01-07 Price Changed $668,800 NTREIS
• 2026-01-07 Price Changed $619,800 NTREIS
• 2026-01-05 Listed $668,800 NTREIS
• 2025-12-19 Listing Removed — NTREIS
• 2025-12-13 Listed $668,800 NTREIS
• 2025-04-10 Sold (Public Records) — Public Records
• 2024-02-21 Sold (Public Records) — Public Records
• 2024-02-21 Sold (Public Records) — Public Records

Property tax history

+14.3%/yr

Latest (2025): $2,899 · -11.6% YoY. Source: county tax records.