2116 Canterbury Dr

Seagoville, TX 75159

$275,000D

4 bd · 2.0 ba · 2,006 sqft · Built 2021 · SingleFamily · Active · 157 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,426/mo
• Mortgage (P&I): −$1,442
• Tax + insurance: −$707
• HOA: −$28
• Vac / Maint / Mgmt: −$510
• Net cashflow: $-261/mo
• Annual: $-3,127/yr
• Cap rate: 5.16%
• Cash-on-cash: -4.06%
• DSCR: 0.82
• 1% rule: 0.88%
• Cash to close: $77,000

Investor read

• This is a 4-bed/2.0-bath single-family listed at $275k. Condition is rated good.
• At list price, monthly cash flow is $-261 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $229k (16.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $243k (11.8% below list).
• It's been on market 157 days — a 12% lower offer ($242k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $229k (16.7% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 71/100 on livability (#319 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, health & safety D-.
• 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: Seagoville North El (math 18% / reading 31%, grade F, #3,052 of 4,322 statewide, top 74%, 767 students, 90% FRL); Seagoville Middle (math 18% / reading 23%, grade F, #1,407 of 1,662 statewide, top 86%, 1,419 students, 88% FRL); Seagoville H S (math 15% / reading 21%, grade F, #1,445 of 1,632 statewide, top 89%, 1,779 students, 87% FRL) — zoned schools at 88% FRL track the district average.
• Zoned-school proficiency averages 21% at this address vs 34% district-wide (-12 pts) — the specific schools serving this property underperform the Dallas ISD average; the district grade overstates school quality for this exact location.
• Watch-outs: property tax is 2.6% of price.
• Market conditions: Rents soft (-2.9%/yr); 488 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 81d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 75% 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).
• 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→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• This rent runs 40% of the median local income ($73k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• 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?
• It's been on market 157 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?