11332 Park Central Pl

Dallas, TX 75230

$215,000D

2 bd · 2.0 ba · 1,301 sqft · Built 1961 · Other · Active · 40 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,925/mo
• Mortgage (P&I): −$1,127
• Tax + insurance: −$358
• HOA: −$0
• Vac / Maint / Mgmt: −$404
• Net cashflow: $35/mo
• Annual: $424/yr
• Cap rate: 6.49%
• Cash-on-cash: 0.70%
• DSCR: 1.03
• 1% rule: 0.90%
• Cash to close: $60,200

Investor read

• This is a 2-bed/2.0-bath other listed at $215k. Condition is rated good.
• At list price, monthly cash flow is $35 ($424/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $193k (10.4% below list).
• It's been on market 40 days — a 3% lower offer ($209k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $193k (10.4% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• 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: Arthur Kramer El (math 37% / reading 47%, grade F, #1,335 of 4,322 statewide, top 33%, 454 students, 68% FRL); Benjamin Franklin International Exploratory Acad (math 26% / reading 32%, grade F, #1,103 of 1,662 statewide, top 67%, 878 students, 86% FRL); Hillcrest H S (math 28% / reading 44%, grade F, #930 of 1,632 statewide, top 57%, 1,610 students, 74% FRL).
• Market conditions: Rents rising (+2.6%/yr); 291 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 12,577 units permitted in Dallas County in 2024 (6,829 in 5+ unit buildings).
• Dallas County population projected at +35% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 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.
• Cap rate 6.5% 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.

Questions for listing agent

• It's been on market 40 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
• Built in 1961 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.
• 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.
• 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.