10500 Lake June Rd Unit I02 · Dallas, TX 75217

$69,000

2 bd · 1.5 ba · 1,103 sqft · Condo public records · 144 Days on market

Built 1984 $63/sqft · 68% below area $300/mo HOA · 19% of rent

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Rent growth +2.8/5.0
• Schools +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great opportunity to own a tenant occupied 2-bedroom, 1.5 bath condo. Competitively priced and conveniently located near shopping and major highways. Both bedrooms are upstairs, half bath downstairs. Showings by appointment only

Key facts

• 7.74 acre lot
• Built 1984
• Listed 143 days

🏷️ Possibly a rental listed for sale. The $69,000 price doesn't fit this home's estimated sale value (~$213,863) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $69k.

Deal economics

• At list price, monthly cash flow is $354 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $69k).
• Recommended offer: $61k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.4% 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: schools C-, 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.
• Market conditions: Rents rising (+1.0%/yr); 198 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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).
• This rent runs 34% of the median local income ($56k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $477 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 1.0% rent growth), your $19k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 144 days — a 12% lower offer ($61k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 23y ago; this cycle's ask has dropped $16k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.4% of price.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $60,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 144 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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 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: 2.28% ✓
• Cap rate: 12.44%
• Cash-on-cash: 21.96%
• DSCR: 1.98
• GRM: 3.7

CMA / ARV

• ARV (median comp): $213,863
• List price: $69,000
• Delta: -67.74%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.02% rent growth · sell at horizon

5-year hold

• IRR: 11.5%
• Equity multiple: 1.44×
• Total profit: $8,541
• Equity at exit: $10,288

10-year hold

• IRR: 18.2%
• Equity multiple: 2.32×
• Total profit: $25,441
• Equity at exit: $5,966

Cash invested: $19,320 (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 75217

• Home prices YoY: -4.3%
• Rents YoY: 1.0%
• Active inventory: 198
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $1,572 high
• Mortgage (P&I): −$362
• Tax from tax record: −$198 /mo · $2,377/yr
• Insurance: −$29
• HOA: −$300
• Vacancy / Maint / Mgmt: −$330
• Net cashflow: $354

Break-even live

Break-even rent $1,125

Max offer price $69,000

Occupancy floor 73%

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: $17,250
• Closing costs: $2,070
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10500 Lake June Rd Unit E07 Dallas, TX	2.0	1.5	1141	$1,195	$1.05	7d	1	0.03mi
10500 Lake June Rd Dallas, TX	2.0	1.5	1141	$1,172	$1.03	6d	2	0.03mi
10410 Cymbal Dr Dallas, TX	2.0	1.5	1128	$1,400	$1.24	14d	1	0.28mi
1415 Amity Ln Dallas, TX	3.0	2.0	1364	$1,780	$1.30	43d	1	0.31mi
912 Carom Way Dallas, TX	3.0	2.0	1156	$1,765	$1.53	7d	1	0.45mi
10121 Muskogee Dr Dallas, TX	3.0	2.0	1381	$1,900	$1.38	24d	1	0.49mi
2812 Cottonwood Ln Balch Springs, TX	3.0	2.0	1260	$1,450	$1.15	43d	1	0.59mi
810 Pleasant Hills Dr Dallas, TX	3.0	2.0	1305	$1,799	$1.38	43d	1	0.62mi
1705 Allentown Dr Dallas, TX	3.0	2.0	1195	$1,725	$1.44	24d	1	0.62mi
10206 Shayna Dr Dallas, TX	3.0	2.0	1253	$1,850	$1.48	13d	1	0.74mi
9807 Tamalpais Dr Dallas, TX	3.0	2.0	1493	$1,985	$1.33	43d	1	0.75mi
10503 Leroy Ct Dallas, TX	3.0	2.0	1253	$1,941	$1.55	7d	1	0.79mi
10315 Limestone Dr Dallas, TX	2.0	2.0	1068	$1,450	$1.36	43d	1	0.84mi
9605 Kittyhawk Ln Dallas, TX	3.0	2.0	1019	$2,200	$2.16	18d	1	0.86mi
10328 Chelmsford Dr Dallas, TX	3.0	1.0	1061	$1,300	$1.23	43d	1	0.89mi
1939 Naira Dr Dallas, TX	3.0	2.0	1415	$1,850	$1.31	43d	1	1.00mi
2041 New Haven Dr Dallas, TX	3.0	1.5	1362	$1,720	$1.26	16d	1	1.03mi
9645 Limestone Dr Dallas, TX	3.0	2.0	1178	$2,000	$1.70	43d	1	1.06mi
9921 Cedar Mountain Cir Dallas, TX	3.0	2.0	1202	$1,895	$1.58	43d	1	1.07mi
1937 Red Cloud Dr Dallas, TX	3.0	2.0	1196	$1,695	$1.42	43d	1	1.09mi
11405 S Blossom Cir Balch Springs, TX	2.0	1.0	920	$1,500	$1.63	1d	1	1.09mi
10320 Nantucket Village Ct Dallas, TX	3.0	2.0	1037	$1,645	$1.59	43d	1	1.14mi
11802 James Dr Balch Springs, TX	2.0	2.0	1194	$1,700	$1.42	22d	1	1.22mi
2255 Nantucket Village Dr Dallas, TX	3.0	2.0	1037	$1,625	$1.57	43d	1	1.25mi
2315 Summit Ln Dallas, TX	3.0	2.0	1200	$1,800	$1.50	7d	1	1.30mi
2255 W Bruton Rd Mesquite, TX	1.0–3.0	1.0–2.0	957	$1,568	$1.64	43d	12	1.30mi
10216 Blackjack Oaks Dr Dallas, TX	3.0	2.0	1453	$1,865	$1.28	24d	1	1.40mi
9415 Bruton Rd Dallas, TX	1.0–3.0	1.0–2.0	885	$924	$1.04	43d	1	1.41mi

HOA detail condo

• Monthly dues: $300 · $3,600/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 19 events

1. 2026-06-18
   days on market $69,000 Active 144 DOM
2. 2026-06-17
   days on market $69,000 Active 143 DOM
3. 2026-06-16
   days on market $69,000 Active 142 DOM
4. 2026-06-15
   days on market $69,000 Active 141 DOM
5. 2026-06-13
   days on market $69,000 Active 139 DOM
6. 2026-06-09
   days on market $69,000 Active 135 DOM
7. 2026-06-08
   days on market $69,000 Active 134 DOM
8. 2026-06-07
   days on market $69,000 Active 133 DOM
9. 2026-06-04
   days on market $69,000 Active 130 DOM
10. 2026-06-03
    days on market $69,000 Active 129 DOM
11. 2026-06-02
    pricedays on market $69,000 Active 128 DOM
12. 2026-06-02
    days on market $85,000 Active 127 DOM
13. 2026-05-31
    days on market $85,000 Active 126 DOM
14. 2026-01-25
    listed $85,000 Active 228-char remark

    Show marketing remark (228 chars)

    Great opportunity to own a tenant occupied 2-bedroom, 1.5 bath condo. Competitively priced and conveniently located near shopping and major highways. Both bedrooms are upstairs, half bath downstairs. Showings by appointment only

15. 2003-07-09
    soldstatus
16. 2003-05-08
    historical
17. 2003-04-10
    listed $40,000
18. 1992-11-24
    soldstatus
19. 1988-04-14
    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: $2,377 · $198/mo
• Projected year-2 tax: $2,377 · $198/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 8/10 Severe 7 d/yr ≥110°F today · 25 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,869
• − Mortgage interest: −$3,865
• − Property taxes: −$2,377
• − Insurance: −$345
• − Repairs & maintenance: −$1,510
• − Management: −$1,510
• − HOA: −$3,600
• − Depreciation: −$2,007
• Taxable income: $3,656
• Est. tax owed @ 24.0%: −$877
• After-tax cash flow: $3,365/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): 85,028
• Household income: $55,723
• Rent vs Own: 37.2% rent · 62.8% own
• Severe rent burden: 2649.0

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: Predominantly Hispanic (73%)
• Race & ethnicity: Hispanic / Latino 73% Two or more races 34% Black 20% White 6%
• Hispanic origin (detail): Mexican 68%
• Foreign-born: 30% · Canada, Philippines
• Languages at home: 34% English-only · Spanish 65% Other Asian/Pacific 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: ▼ -17.04%
• Current HPI: 382.5527
• Rent YoY: ▲ 1.02%
• 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

+112.5% since first listed

6 events — show timeline

• 2026-01-25 Listed $85,000 NTREIS
• 2003-07-09 Sold (Public Records) — Public Records
• 2003-05-08 Listing Removed — NTREIS
• 2003-04-10 Listed $40,000 NTREIS
• 1992-11-24 Sold (Public Records) — Public Records
• 1988-04-14 Sold (Public Records) — Public Records

Property tax history

+8.9%/yr

Latest (2025): $2,377 · -0.4% YoY. Source: county tax records.