4010 Copeland St

Dallas, TX 75210

$225,000D+

4 bd · 2.0 ba · 1,536 sqft · Built 1947 · SingleFamily · Active · 20 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,007/mo
• Mortgage (P&I): −$1,180
• Tax + insurance: −$544
• HOA: −$0
• Vac / Maint / Mgmt: −$422
• Net cashflow: $-138/mo
• Annual: $-1,661/yr
• Cap rate: 5.55%
• Cash-on-cash: -2.64%
• DSCR: 0.88
• 1% rule: 0.89%
• Cash to close: $63,000

Investor read

• This is a 4-bed/2.0-bath single-family listed at $225k.
• At list price, monthly cash flow is $-138 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $201k (10.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $201k (10.8% below list).
• It's been on market 20 days — a 2% lower offer ($222k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $201k (10.9% below list) — sets the bar for cash-flow.
• In year one you build about $4k of equity ($2k loan paydown + $2k appreciation (1.1% local appreciation)).
• 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: Paul L Dunbar Learning Center (math 27% / reading 22%, grade F, #3,052 of 4,322 statewide, top 74%, 531 students, 95% FRL); Billy Earl Dade Middle (math 18% / reading 23%, grade F, #1,407 of 1,662 statewide, top 86%, 636 students, 100% FRL); James Madison H S (math 17% / reading 17%, grade F, #1,491 of 1,632 statewide, top 92%, 359 students, 96% FRL).
• Zoned-school proficiency averages 21% at this address vs 34% district-wide (-13 pts) — the specific schools serving this property underperform the Dallas ISD average; the district grade overstates school quality for this exact location.
• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 80 active listings in the ZIP; 39 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); 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.
• 3 sale attempts since 4y 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.
• By year 8, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major flood risk; major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.6% 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

• 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?
• Built in 1947 — 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.