1531 Padgitt Ave · Dallas, TX 75203

$160,000

2 bd · 1.0 ba · 832 sqft · SingleFamily public records · 33 Days on market

Built 1938 7,710 sqft lot $192/sqft · 14% above area Est $140k · 14% over ↓ 11% 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).

• Cash flow +12.5/30.0
• Appreciation +10.0/10.0
• 1% rule +4.8/10.0
• Livability +4.0/5.0
• DSCR +3.7/10.0
• Schools +2.8/10.0
• Condition / age +2.5/5.0
• Rent growth +1.8/5.0
• ARV discount +1.0/15.0

Listing remarks

Investor’s Dream Opportunity! Price is for both 1931 & 1935 This property comes with the lot next door 1935 Padgitt Ave offering endless potential for expansion, new construction, additional parking, or added investment value. Perfect opportunity for investors, builders, or buyers looking to maximize possibilities. Don’t miss your chance to secure two parcels in one deal!

Key facts

• Two parcels
• New construction
• Additional parking

Tags

• NEW CONSTRUCTION
• ADDITIONAL PARKING
• ADDED INVESTMENT VALUE
• TWO PARCELS

Property features AI

Finance

• Other: Lot size approximately 0.177 acres
• Financial info: No second mortgage indicated; Listing is for sale
• HOA & community: No association

Exterior

• Parking: No covered or carport spaces listed
• Utilities: City water; City sewer; Not located in a municipal utility district
• Home design: Single family residence; Residential property; Built in 1938; One story
• Construction: Year built 1938
• Exterior features: Additional parking; Lot in Cedar Cliff subdivision

Interior

• Kitchen: No appliances included
• Bedrooms: Primary bedroom 13 x 13 (level 1); Total of 2 bedrooms
• Bathrooms: 1 full bathroom
• Interior features: One level layout; Other interior features
• Laundry & utility: No laundry appliances listed

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $-23 ($-271/yr) — negative.
• To cash-flow at today's rent, offer at most $156k (2.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $157k (1.7% below list).
• Recommended offer: $155k (3.0% below list) — sets the bar for market timing.
• Cap rate 6.1% 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: Cedar Crest El (math 52% / reading 37%, grade F, #1,155 of 4,322 statewide, top 29%, 321 students, 100% FRL); John Lewis Social Justice Academy At O W Holmes (math 22% / reading 22%, grade F, #1,360 of 1,662 statewide, top 83%, 581 students, 100% FRL); Franklin D Roosevelt H S of Innovation (math 12% / reading 22%, grade F, #1,491 of 1,632 statewide, top 92%, 748 students, 96% FRL) — zoned schools average 99% FRL vs 83% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-2.7%/yr); 147 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 12,577 units permitted in Dallas County in 2024 (6,829 in 5+ unit buildings).

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 ~3 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 33 days — a 3% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $20k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1938 — expect roof / HVAC / electrical / plumbing capex.
• 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 $155,200 (3.0% 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 33 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
3. Built in 1938 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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?
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 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: 0.98% ✗
• Cap rate: 6.12%
• Cash-on-cash: -0.60%
• DSCR: 0.97
• GRM: 8.5

CMA / ARV

• ARV (median comp): $139,867
• List price: $160,000
• Delta: 14.39%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1622 Avenue B	0.25mi	2/1.0	825 (-1%)	11mo	$120,000	$145	78
319 Avenue H	0.47mi	2/1.0	837 (+1%)	4mo	$144,900	$173	73
1515 Morrell Ave	0.14mi	2/1.0	840 (+1%)	22mo	$79,900	$95	73
814 Lambert St	0.26mi	2/1.0	728 (-12%)	9mo	$140,000	$192	60
1306 E Waco Ave	0.56mi	2/1.0	896 (+8%)	3mo	$99,000	$110	59
818 Lambert St	0.26mi	2/1.0	732 (-12%)	11mo	$109,900	$150	59
827 Bonnie View Rd	0.33mi	3/2.0 (+1)	860 (+3%)	14mo	$184,000	$214	58
1215 Morrell Ave	0.46mi	2/1.0	900 (+8%)	10mo	$224,900	$250	57
1003 Bonnie View Rd	0.38mi	2/1.0	884 (+6%)	18mo	$204,500	$231	57
2022 Dudley Ave	0.49mi	2/1.0	851 (+2%)	23mo	$104,000	$122	54
1825 Dudley Ave	0.53mi	3/1.0 (+1)	939 (+13%)	8mo	$160,000	$170	43
519 Avenue I	0.48mi	2/1.0	952 (+14%)	16mo	$119,900	$126	41

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 22.8%
• Equity multiple: 2.81×
• Total profit: $81,215
• Equity at exit: $144,141

10-year hold

• IRR: 19.6%
• Equity multiple: 6.18×
• Total profit: $232,281
• 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: 147
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,573 high
• Mortgage (P&I): −$839
• Tax from tax record: −$360 /mo · $4,316/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$330
• Net cashflow: $-23

Break-even live

Break-even rent $1,602

Max offer price $156,014

Occupancy floor 96%

Sensitivity live

Price	-10% $68	-5% $23	+0% $-23	+5% $-68	+10% $-113
Rent	-10% $-147	-5% $-85	+0% $-23	+5% $40	+10% $102
Rate	-1.0pp $58	-0.5pp $18	base $-23	+0.5pp $-64	+1.0pp $-106

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: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
607 Woodbine Ave Dallas, TX	2.0	1.0	782	$1,350	$1.73	9d	1	0.15mi
948 S Corinth Street Rd #1 Dallas, TX	2.0	2.0	1013	$1,650	$1.63	26d	1	0.16mi
948 S Corinth Street Rd #5 Dallas, TX	2.0	2.0	920	$1,550	$1.68	45d	1	0.16mi
948 S Corinth Street Rd #1 Dallas, TX	2.0	2.0	1013	$1,650	$1.63	45d	1	0.16mi
1710 Morrell Ave Dallas, TX	2.0	1.0–2.0	654	$2,069	$3.16	1d	39	0.17mi
948 S Corinth Street Rd Unit 6 Dallas, TX	2.0	2.0	1013	$1,625	$1.60	15d	1	0.26mi
6 S Corinth Street Rd Dallas, TX	1.0	1.0	800	$1,050	$1.31	26d	1	0.32mi
260 S Corinth Street Rd Unit 238 Dallas, TX	1.0	1.0	600	$900	$1.50	45d	1	0.35mi
2002 Dudley Ave Dallas, TX	2.0	1.0	750	$1,375	$1.83	9d	1	0.48mi
2206 Rockefeller Blvd Dallas, TX	2.0	1.0	680	$1,450	$2.13	45d	1	0.50mi
801 Avenue I Unit 1-107 Dallas, TX	1.0	1.0	872	$1,749	$2.01	26d	1	0.51mi
2254 Areba St Dallas, TX	2.0	1.0	1120	$1,650	$1.47	1d	1	0.51mi
2254 Areba St Unit A Dallas, TX	2.0	1.0	1120	$1,450	$1.29	45d	1	0.51mi
2250 Areba St Unit A Dallas, TX	2.0	1.0	779	$1,850	$2.37	45d	1	0.51mi
2218 Rockefeller Blvd Dallas, TX	3.0	1.0	1028	$1,750	$1.70	1d	1	0.52mi
1028 Claude St Dallas, TX	2.0	1.0	988	$1,800	$1.82	26d	1	0.53mi
1018 E Waco Ave Dallas, TX	3.0	1.0	1112	$1,395	$1.25	46d	1	0.68mi
850 S Ewing Ave Dallas, TX	1.0–2.0	1.0–2.5	1086	$2,450	$2.25	5d	2	0.75mi
405 S Ewing Ave Unit 406 Dallas, TX	2.0	2.0	1102	$2,550	$2.31	45d	1	0.85mi
405 S Ewing Ave Unit 308 Dallas, TX	1.0	1.0	660	$1,319	$2.00	45d	1	0.85mi
405 S Ewing Ave Unit 416 Dallas, TX	1.0	1.0	760	$1,930	$2.54	45d	1	0.85mi
1427 Diceman Ave Dallas, TX	3.0	2.0	890	$1,600	$1.80	26d	1	0.87mi
401 N Moore St Dallas, TX	1.0	1.5	972	$1,700	$1.75	9d	1	0.87mi
1532 Whitaker Ave Dallas, TX	1.0	1.0	656	$1,200	$1.83	45d	1	1.01mi
1310 Michigan Ave Dallas, TX	3.0	2.0	972	$1,900	$1.95	26d	1	1.17mi
405 N Ewing Ave Dallas, TX	3.0	1.0–2.0	941	$2,392	$2.54	3d	48	1.18mi
308 S Storey St Dallas, TX	1.0	1.0	900	$1,550	$1.72	9d	1	1.18mi
511 N Ewing Ave Dallas, TX	1.0	1.0	777	$1,845	$2.37	4d	9	1.20mi
523 N Ewing Ave Dallas, TX	1.0	1.0	628	$1,250	$1.99	6d	1	1.25mi
506 N Lancaster Ave Unit 506A Dallas, TX	1.0	1.0	798	$1,400	$1.75	5d	1	1.25mi
404 E 9th St Dallas, TX	1.0	1.0	550	$1,150	$2.09	3d	2	1.26mi
406 Lansing St Dallas, TX	2.0	2.0	1014	$2,145	$2.12	8d	1	1.28mi
409 E 9th St Dallas, TX	1.0	1.0	538	$970	$1.80	45d	4	1.29mi
2906 E Kiest Blvd Dallas, TX	2.0–3.0	1.0–2.0	798	$1,235	$1.55	0d	6	1.29mi
609 N Lancaster Ave Dallas, TX	1.0–2.0	1.0	725	$1,149	$1.58	3d	2	1.34mi
501 N Marsalis Ave Dallas, TX	1.0	1.0	455	$1,024	$2.25	9d	3	1.34mi
308 E 8th St Unit A1-102 Dallas, TX	1.0	1.0	600	$995	$1.66	26d	1	1.34mi
308 E 8th St Dallas, TX	1.0	1.0	600	$995	$1.66	45d	1	1.34mi
321 E 8th St Dallas, TX	1.0	1.0	544	$899	$1.65	1d	1	1.34mi
624 N Lancaster Ave Dallas, TX	2.0	1.0–2.0	800	$2,365	$2.96	9d	4	1.35mi

Listing history 14 events

1. 2026-06-18
   days on market $160,000 Active 33 DOM
2. 2026-06-17
   days on market $160,000 Active 32 DOM
3. 2026-06-16
   days on market $160,000 Active 31 DOM
4. 2026-06-15
   days on market $160,000 Active 30 DOM
5. 2026-06-13
   days on market $160,000 Active 28 DOM
6. 2026-06-07
   days on market $160,000 Active 24 DOM
7. 2026-06-04
   days on market $160,000 Active 21 DOM
8. 2026-06-03
   days on market $160,000 Active 20 DOM
9. 2026-06-02
   days on market $160,000 Active 19 DOM
10. 2026-06-01
    days on market $160,000 Active 18 DOM
11. 2026-05-31
    days on market $160,000 Active 17 DOM
12. 2026-05-14
    listed $180,000 Active 391-char remark
13. 2024-04-03
    soldstatus
14. 1961-01-10
    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: $4,316 · $360/mo
• Projected year-2 tax: $4,316 · $360/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 · 23 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: $18,878
• − Mortgage interest: −$8,962
• − Property taxes: −$4,316
• − Insurance: −$800
• − Repairs & maintenance: −$1,510
• − Management: −$1,510
• − Depreciation: −$4,655
• Taxable loss: −$2,875
• Est. tax savings @ 24.0%: +$690
• After-tax cash flow: $419/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

-11.1% since first listed

5 events — show timeline

• 2026-06-10 Relisted — NTREIS
• 2026-05-20 Price Changed $160,000 NTREIS
• 2026-05-14 Listed $180,000 NTREIS
• 2024-04-03 Sold (Public Records) — Public Records
• 1961-01-10 Sold (Public Records) — Public Records

Property tax history

+12.6%/yr

Latest (2025): $4,316 · +13.6% YoY. Source: county tax records.