508-510 Matterhorn St · Cedar Hill, TX 75104

$425,000

3 bd · 1.0 ba · 1,160 sqft · MultiFamily public records · 168 Days on market

Built 1982 4,966 sqft lot $366/sqft · 158% above area Est $330k · 29% over ↓ 6% 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 +20.2/30.0
• DSCR +6.4/10.0
• 1% rule +4.8/10.0
• Livability +3.7/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

INVESTOR SPECIAL!!! DUPLEX 6-bedroom, 2-bath home in Cedar Hill. This well-maintained property features a spacious living area, updated appliances, new flooring, 4 parking spaces and a cozy backyard perfect for entertaining. Conveniently located near amenities and in a family friendly neighborhood. Both units are currently rented. Do Not Disturb Tenants!!! Recent rental comps around $2100

Key facts

• Updated appliances
• Spacious living area
• New flooring

Tags

• SPACIOUS LIVING AREA
• UPDATED APPLIANCES
• NEW FLOORING
• COZY BACKYARD
• 4 PARKING SPACES

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $425k.

Deal economics

• At list price, monthly cash flow is $536 ($6k/yr) — positive. Per door: $268/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $418k (1.6% below list).
• Recommended offer: $374k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.8% vs local median 3.4% in Cedar Hill — 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 74/100 on livability (#178 in TX, #4,673 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B+; Watch: amenities F, commute F.
• Cedar Hill ISD (suburban): math 19% / reading 35% proficiency, ranked #643 of 826 in TX (top 78%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Cedar Hill Collegiate Prep (math 42% / reading 52%, grade D-, #1,006 of 4,322 statewide, top 25%, 495 students, 49% FRL); W S Permenter Middle (math 14% / reading 28%, grade F, #1,387 of 1,662 statewide, top 85%, 626 students, 83% FRL); Cedar Hill H S (math 13% / reading 39%, grade F, #1,234 of 1,632 statewide, top 76%, 2,197 students, 68% FRL).
• Market conditions: Rents soft (-0.9%/yr); 419 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 12,577 units permitted in Dallas County in 2024 (6,829 in 5+ unit buildings).
• At $4,182/mo this rent would consume 49% of the median local household income ($103k/yr) (locally 1570% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.
• Dallas County population projected at +35% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 168 days — a 12% lower offer ($374k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $30k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: 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.

Recommended offer $374,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 168 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.98% ✗
• Cap rate: 7.81%
• Cash-on-cash: 5.41%
• DSCR: 1.24
• GRM: 8.5

CMA / ARV

• ARV (median comp): $329,662
• List price: $425,000
• Delta: 28.92%
• Verdict: OVERPRICED
• Comps: 5 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -11.2%
• Equity multiple: 0.60×
• Total profit: $-47,006
• Equity at exit: $63,369

10-year hold

• IRR: -6.7%
• Equity multiple: 0.63×
• Total profit: $-44,477
• Equity at exit: $36,746

Cash invested: $119,000 (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 75104

• Home prices YoY: -5.5%
• Rents YoY: -0.9%
• Active inventory: 419
• Price-to-rent: 16.9×

Monthly cashflow live

• Estimated rent: $4,182 high
• Mortgage (P&I): −$2,229
• Tax from tax record: −$362 /mo · $4,339/yr
• Insurance: −$177
• HOA: −$0
• Vacancy / Maint / Mgmt: −$878
• Net cashflow: $536

Break-even live

Break-even rent $3,503

Max offer price $425,000

Occupancy floor 82%

Sensitivity live

Price	-10% $777	-5% $657	+0% $536	+5% $416	+10% $296
Rent	-10% $206	-5% $371	+0% $536	+5% $702	+10% $867
Rate	-1.0pp $750	-0.5pp $644	base $536	+0.5pp $426	+1.0pp $314

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$4,182
Total (2 units)			$4,182

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: $106,250
• Closing costs: $12,750
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
508 Matterhorn St Cedar Hill, TX	3.0	1.0	1160	$2,100	$1.81	45d	1	0.05mi
420 Dollins St Cedar Hill, TX	2.0	1.0	1004	$1,695	$1.69	6d	1	0.11mi
429 Dollins St Cedar Hill, TX	2.0	2.0	1100	$1,700	$1.55	26d	1	0.13mi
434 Pogue St Cedar Hill, TX	2.0	2.0	1210	$1,500	$1.24	19d	1	0.14mi
439 Jones St Cedar Hill, TX	3.0	1.0	1089	$1,650	$1.52	45d	1	0.20mi
415 Justice St Cedar Hill, TX	3.0	2.0	1206	$1,776	$1.47	7d	1	0.23mi
415 Justice St Cedar Hill, TX	3.0	2.0	1206	$1,765	$1.46	14d	1	0.23mi
528 Olympus St Cedar Hill, TX	3.0	2.0	1346	$2,330	$1.73	7d	1	0.29mi
423 Vincent St Cedar Hill, TX	4.0	2.0	1253	$1,950	$1.56	45d	1	0.30mi
441 S Highland Dr Cedar Hill, TX	3.0	2.0	1243	$1,549	$1.25	45d	1	0.35mi
447 Vincent St Cedar Hill, TX	2.0	2.0	993	$1,595	$1.61	21d	1	0.35mi
447 Vincent St Cedar Hill, TX	2.0	2.0	993	$1,595	$1.61	14d	1	0.35mi
505 Pico St Cedar Hill, TX	3.0	2.0	1446	$1,900	$1.31	45d	1	0.38mi
119 Halifax Dr Cedar Hill, TX	3.0	2.0	1246	$2,300	$1.85	45d	1	0.39mi
201 S Clark Rd Cedar Hill, TX	1.0–3.0	1.0–2.0	890	$1,945	$2.19	1d	85	0.50mi
151 E Little Creek Rd Cedar Hill, TX	1.0–2.0	1.0–1.5	786	$1,628	$2.07	45d	3	0.74mi
1105 Saturn Dr Cedar Hill, TX	3.0	1.5	1222	$1,595	$1.31	9d	1	0.87mi
1150 Suburban St Cedar Hill, TX	2.0	1.0	937	$1,450	$1.55	1d	1	0.93mi
478 Towne Square Blvd Cedar Hill, TX	2.0	2.0	1134	$1,975	$1.74	45d	1	0.99mi
801 Bluestem Way Cedar Hill, TX	1.0–3.0	1.0–2.5	1080	$2,857	$2.65	0d	9	1.12mi
845 Applewood Dr Cedar Hill, TX	3.0	2.0	1373	$1,900	$1.38	26d	1	1.14mi
845 Applewood Dr Cedar Hill, TX	3.0	2.0	1373	$1,900	$1.38	45d	1	1.14mi
365 Uptown Blvd Cedar Hill, TX	1.0–3.0	1.0–2.0	1099	$2,987	$2.72	0d	29	1.16mi
301 N Joe Wilson Rd Cedar Hill, TX	1.0–2.0	1.0–2.0	812	$1,683	$2.07	1d	17	1.21mi
307 N Joe Wilson Rd Cedar Hill, TX	2.0	2.0	984	$1,700	$1.73	45d	1	1.34mi
607 Springtime Dr Cedar Hill, TX	3.0	2.0	1377	$1,950	$1.42	45d	1	1.34mi
1223 Reeves Ln Cedar Hill, TX	3.0	2.0	1418	$2,145	$1.51	24d	1	1.35mi
700 Long Ct Cedar Hill, TX	2.0	2.0	900	$1,645	$1.83	45d	1	1.41mi
715 Long Ct Cedar Hill, TX	2.0	2.0	934	$1,700	$1.82	6d	1	1.47mi
715 Long Ct Cedar Hill, TX	2.0	2.0	934	$1,700	$1.82	1d	1	1.47mi

Listing history 27 events

1. 2026-06-21
   days on market $425,000 Active 168 DOM
2. 2026-06-18
   days on market $425,000 Active 165 DOM
3. 2026-06-17
   days on market $425,000 Active 164 DOM
4. 2026-06-16
   days on market $425,000 Active 163 DOM
5. 2026-06-15
   days on market $425,000 Active 162 DOM
6. 2026-06-13
   days on market $425,000 Active 160 DOM
7. 2026-06-09
   days on market $425,000 Active 156 DOM
8. 2026-06-08
   days on market $425,000 Active 155 DOM
9. 2026-06-07
   days on market $425,000 Active 154 DOM
10. 2026-06-04
    days on market $425,000 Active 151 DOM
11. 2026-06-03
    days on market $425,000 Active 150 DOM
12. 2026-06-02
    days on market $425,000 Active 149 DOM
13. 2026-06-01
    days on market $425,000 Active 148 DOM
14. 2026-05-31
    days on market $425,000 Active 147 DOM
15. 2026-03-13
    price $425,000 391-char remark

    Show marketing remark (391 chars)

    INVESTOR SPECIAL!!! DUPLEX 6-bedroom, 2-bath home in Cedar Hill. This well-maintained property features a spacious living area, updated appliances, new flooring, 4 parking spaces and a cozy backyard perfect for entertaining. Conveniently located near amenities and in a family friendly neighborhood. Both units are currently rented. Do Not Disturb Tenants!!! Recent rental comps around $2100

16. 2026-01-04
    listed $455,000 Active 391-char remark

    Show marketing remark (391 chars)

    INVESTOR SPECIAL!!! DUPLEX 6-bedroom, 2-bath home in Cedar Hill. This well-maintained property features a spacious living area, updated appliances, new flooring, 4 parking spaces and a cozy backyard perfect for entertaining. Conveniently located near amenities and in a family friendly neighborhood. Both units are currently rented. Do Not Disturb Tenants!!! Recent rental comps around $2100

17. 2025-08-31
    historical
18. 2025-06-17
    price $419,000
19. 2025-06-02
    status Active
20. 2025-04-06
    price $428,000
21. 2025-02-06
    price $432,700
22. 2024-12-01
    price $433,000
23. 2024-11-15
    price $439,000
24. 2024-08-14
    price $445,000
25. 2024-07-12
    price $446,400
26. 2024-06-11
    price $447,400
27. 2024-05-08
    listed $449,900 Active

ⓘ 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: $4,339 · $362/mo
• Projected year-2 tax: $7,778 · $648/mo
• Expected delta: +$3,438/yr (+$287/mo · 79.2%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥110°F today · 24 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $50,184
• − Mortgage interest: −$23,807
• − Property taxes: −$4,339
• − Insurance: −$2,125
• − Repairs & maintenance: −$4,015
• − Management: −$4,015
• − Depreciation: −$12,364
• Taxable loss: −$480
• Est. tax savings @ 24.0%: +$115
• After-tax cash flow: $6,551/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: Cedar Hill ISD
• NCES district ID: 4813230
• Math proficiency: 19% ▼ -22.00%
• Reading proficiency: 35% ▼ -5.00%
• Median HH income: $64,438
• Composite: 25.04/100
• National rank: #7548
• State rank: #643 of 826 in TX

Livability — Cedar Hill

• Score: 74/100
• State rank: #178
• US rank: #4673

Category grades

Amenities F Commute F Cost of living A+ Crime B Employment B+ Housing A+ Health & safety C+ User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cedar Hill, TX
• County: Dallas County · 2,612,404 people
• City population: 49,228
• Metro: Dallas-Fort Worth-Arlington, TX
• Population (ZIP): 49,228
• Household income: $102,875
• Rent vs Own: 28.0% rent · 72.0% own
• Severe rent burden: 1570.0

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 0.65)
• Race & ethnicity: Black 50% Hispanic / Latino 28% White 16% Two or more races 11% Asian 2%
• Hispanic origin (detail): Mexican 24%
• Common ancestry: Lithuanian 1% Italian 1%
• Foreign-born: 12% · Canada, Vietnam
• Languages at home: 77% English-only · Spanish 19% Other Indo-European 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: ▼ -16.63%
• Current HPI: 287.5359
• Rent YoY: ▼ -0.88%
• 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

-5.5% since first listed

13 events — show timeline

• 2026-03-13 Price Changed $425,000 NTREIS
• 2026-01-04 Listed $455,000 NTREIS
• 2025-08-31 Listing Removed — NTREIS
• 2025-06-17 Price Changed $419,000 NTREIS
• 2025-06-02 Relisted — NTREIS
• 2025-04-06 Price Changed $428,000 NTREIS
• 2025-02-06 Price Changed $432,700 NTREIS
• 2024-12-01 Price Changed $433,000 NTREIS
• 2024-11-15 Price Changed $439,000 NTREIS
• 2024-08-14 Price Changed $445,000 NTREIS
• 2024-07-12 Price Changed $446,400 NTREIS
• 2024-06-11 Price Changed $447,400 NTREIS
• 2024-05-08 Listed $449,900 NTREIS

Property tax history

+6.2%/yr

Latest (2025): $4,339 · +0.0% YoY. Source: county tax records.