227 Halsey St · Dallas, TX 75224

$199,500

3 bd · 1.0 ba · 1,750 sqft · SingleFamily public records · 54 Days on market

Built 1948 7,815 sqft lot $114/sqft · 20% below area Est $248k · 20% under

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Why this score? — see what drove the C 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 +18.5/30.0
• ARV discount +15.0/15.0
• 1% rule +6.4/10.0
• DSCR +5.8/10.0
• Livability +4.0/5.0
• Rent growth +3.4/5.0
• Schools +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Attention investors, DIYers, and house-hackers: this 4-bedroom, 2-bathroom home in the Wynnewood neighborhood is an incredible opportunity to build immediate sweat equity. The heavy lifting on the big-ticket items is already done—the home features a newer AC Unit (2024) and a newer roof (2020). The interior is a blank canvas ready for your cosmetic updates and personal touch. A massive value-add is the attached mother-in-law suite. Whether you're looking to generate rental income to offset your mortgage or need a separate space for multi-generational living, this layout gives you options. The property sits on an oversized lot with a massive front yard and a huge backyard featuring a covered deck. You are perfectly positioned just minutes from the Bishop Arts District, Downtown Dallas, and Kiest Park.

Key facts

• Newer ac unit
• Covered deck
• Massive front yard

Tags

• ATTACHED MOTHER-IN-LAW SUITE
• NEW ROOF
• NEWER AC UNIT
• MASSIVE FRONT YARD
• HUGE BACKYARD
• COVERED DECK

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $188 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Recommended offer: $194k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.4% 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 (+3.7%/yr); 58 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 12,577 units permitted in Dallas County in 2024 (6,829 in 5+ unit buildings).
• At $2,271/mo this rent would consume 52% of the median local household income ($52k/yr) (locally 1594% 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 $1k of loan paydown is wiped out by about $6k 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 54 days — a 3% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y ago; this cycle's ask has dropped $26k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price; built in 1948 — 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 $193,515 (3.0% below list)

Questions for the listing agent

1. It's been on market 54 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.14% ✓
• Cap rate: 7.43%
• Cash-on-cash: 4.05%
• DSCR: 1.18
• GRM: 7.3

CMA / ARV

• ARV (median comp): $248,348
• List price: $199,500
• Delta: -19.67%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2943 Alabama Ave	0.37mi	4/2.0 (+1)	1,780 (+2%)	19mo	$335,000	$188	55
2912 Grayson Dr	0.58mi	3/2.0	1,683 (-4%)	13mo	$359,000	$213	52
307 W Ohio Ave	0.67mi	4/2.0 (+1)	1,752 (+0%)	10mo	$300,000	$171	51
2620 Seevers Ave	0.49mi	4/2.0 (+1)	1,866 (+7%)	8mo	$369,000	$198	51
303 W Ohio Ave	0.67mi	4/2.0 (+1)	1,752 (+0%)	12mo	$327,500	$187	50
3114 Ramsey Ave	0.38mi	4/2.0 (+1)	1,599 (-9%)	12mo	$299,000	$187	49
706 W Saner Ave	0.54mi	4/2.0 (+1)	1,668 (-5%)	12mo	$279,900	$168	48
2627 Seevers Ave	0.46mi	4/2.0 (+1)	1,513 (-14%)	6mo	$270,000	$178	42
2632 Canberra St	0.58mi	4/2.0 (+1)	1,892 (+8%)	13mo	$310,000	$164	39
3027 Arizona Ave	0.44mi	4/2.0 (+1)	1,954 (+12%)	19mo	$402,900	$206	35
2609 Arizona Ave	0.62mi	4/2.0 (+1)	1,954 (+12%)	16mo	$379,500	$194	30
2607 Alaska Ave	0.72mi	4/3.0 (+1)	1,955 (+12%)	9mo	$275,000	$141	26

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

Projected returns pro-forma

-3.0% appreciation · 3.71% rent growth · sell at horizon

5-year hold

• IRR: -9.0%
• Equity multiple: 0.67×
• Total profit: $-18,525
• Equity at exit: $29,746

10-year hold

• IRR: 1.7%
• Equity multiple: 1.12×
• Total profit: $6,821
• Equity at exit: $17,249

Cash invested: $55,860 (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 75224

• Rents YoY: 3.7%
• Active inventory: 58
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $2,271 high
• Mortgage (P&I): −$1,046
• Tax from tax record: −$476 /mo · $5,716/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$477
• Net cashflow: $188

Break-even live

Break-even rent $2,032

Max offer price $199,500

Occupancy floor 87%

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: $49,875
• Closing costs: $5,985
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2842 S Marsalis Ave Dallas, TX	3.0	3.5	1788	$2,300	$1.29	44d	1	0.69mi
2844 S Marsalis Ave Dallas, TX	3.0	3.5	1788	$2,300	$1.29	44d	1	0.69mi
2830 S Marsalis Ave Dallas, TX	4.0	2.0	1960	$3,000	$1.53	44d	1	0.70mi
2123 Ramsey Ave Dallas, TX	4.0	2.0	1727	$2,999	$1.74	24d	1	0.87mi
2126 Ramsey Ave Dallas, TX	4.0	1.5	1416	$2,300	$1.62	44d	1	0.88mi
3806 Morning Springs Trl Dallas, TX	3.0	2.0	1512	$2,300	$1.52	19d	1	0.90mi
3828 Morning Springs Trl Dallas, TX	3.0	2.0	1399	$2,200	$1.57	22d	1	0.94mi
2611 Fernwood Ave Dallas, TX	3.0	2.0	1528	$2,000	$1.31	24d	1	1.09mi
625 W Pentagon Parkway Cir Dallas, TX	3.0	2.0	1371	$2,150	$1.57	7d	1	1.13mi
3423 E Perryton Dr Dallas, TX	2.0	2.0	1277	$1,650	$1.29	44d	1	1.14mi
1810 Ramsey Ave Dallas, TX	3.0	2.0	1546	$2,350	$1.52	44d	1	1.15mi
1731 Seevers Ave Dallas, TX	3.0	2.0	1980	$2,480	$1.25	44d	1	1.17mi
3525 Cripple Creek Dr Dallas, TX	3.0	2.0	2056	$2,400	$1.17	4d	1	1.19mi
3702 Legendary Ln Dallas, TX	1.0–3.0	1.0–2.0	990	$1,099	$1.11	3d	6	1.22mi
519 Heyser Dr Dallas, TX	2.0	2.0	1300	$2,300	$1.77	24d	1	1.22mi
4117 S Marsalis Ave Dallas, TX	3.0	2.0	1296	$2,200	$1.70	7d	1	1.26mi
621 Tarryall Dr Dallas, TX	4.0	2.0	1756	$2,200	$1.25	7d	1	1.27mi
532 W Five Mile Pkwy Dallas, TX	3.0	2.5	2115	$3,500	$1.65	7d	1	1.29mi
1917 S Vernon Ave Dallas, TX	4.0	2.0	2340	$3,199	$1.37	5d	1	1.31mi
1510 Maywood Ave Dallas, TX	4.0	2.5	1869	$2,220	$1.19	44d	1	1.35mi
1209 Grinnell St Dallas, TX	4.0	2.0	1892	$2,150	$1.14	2d	1	1.38mi

Listing history 21 events

1. 2026-06-07
   days on market $199,500 Active 54 DOM
2. 2026-06-04
   days on market $199,500 Active 51 DOM
3. 2026-06-03
   days on market $199,500 Active 50 DOM
4. 2026-06-02
   statusdays on market $199,500 Active 49 DOM
5. 2026-06-01
   days on market $199,500 Active Option Contract 48 DOM
6. 2026-05-31
   days on market $199,500 Active Option Contract 47 DOM
7. 2026-05-12
   price $199,500 826-char remark

   Show marketing remark (826 chars)

   Attention investors, DIYers, and house-hackers: this 4-bedroom, 2-bathroom home in the Wynnewood neighborhood is an incredible opportunity to build immediate sweat equity. The heavy lifting on the big-ticket items is already done—the home features a newer AC Unit (2024) and a newer roof (2020). The interior is a blank canvas ready for your cosmetic updates and personal touch. A massive value-add is the attached mother-in-law suite. Whether you're looking to generate rental income to offset your mortgage or need a separate space for multi-generational living, this layout gives you options. The property sits on an oversized lot with a massive front yard and a huge backyard featuring a covered deck. You are perfectly positioned just minutes from the Bishop Arts District, Downtown Dallas, and Kiest Park.

8. 2026-04-28
   price $218,500 826-char remark

   Show marketing remark (826 chars)

   Attention investors, DIYers, and house-hackers: this 4-bedroom, 2-bathroom home in the Wynnewood neighborhood is an incredible opportunity to build immediate sweat equity. The heavy lifting on the big-ticket items is already done—the home features a newer AC Unit (2024) and a newer roof (2020). The interior is a blank canvas ready for your cosmetic updates and personal touch. A massive value-add is the attached mother-in-law suite. Whether you're looking to generate rental income to offset your mortgage or need a separate space for multi-generational living, this layout gives you options. The property sits on an oversized lot with a massive front yard and a huge backyard featuring a covered deck. You are perfectly positioned just minutes from the Bishop Arts District, Downtown Dallas, and Kiest Park.

9. 2026-04-06
   listed $225,000 Active 826-char remark

   Show marketing remark (826 chars)

   Attention investors, DIYers, and house-hackers: this 4-bedroom, 2-bathroom home in the Wynnewood neighborhood is an incredible opportunity to build immediate sweat equity. The heavy lifting on the big-ticket items is already done—the home features a newer AC Unit (2024) and a newer roof (2020). The interior is a blank canvas ready for your cosmetic updates and personal touch. A massive value-add is the attached mother-in-law suite. Whether you're looking to generate rental income to offset your mortgage or need a separate space for multi-generational living, this layout gives you options. The property sits on an oversized lot with a massive front yard and a huge backyard featuring a covered deck. You are perfectly positioned just minutes from the Bishop Arts District, Downtown Dallas, and Kiest Park.

10. 2026-04-01
    historical
11. 2025-11-30
    price $240,000
12. 2025-08-10
    price $260,000
13. 2025-08-03
    price $270,000
14. 2025-07-24
    listed $280,000 Active
15. 2021-05-05
    soldstatus
16. 2021-02-12
    price $189,000
17. 2021-01-27
    price $199,000
18. 2021-01-26
    listed $200,000 Active
19. 2019-05-17
    soldstatus
20. 1999-05-26
    soldstatus
21. 1999-03-01
    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: $5,716 · $476/mo
• Projected year-2 tax: $5,716 · $476/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 ≥110°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: $27,250
• − Mortgage interest: −$11,175
• − Property taxes: −$5,716
• − Insurance: −$998
• − Repairs & maintenance: −$2,180
• − Management: −$2,180
• − Depreciation: −$5,804
• Taxable loss: −$802
• Est. tax savings @ 24.0%: +$192
• After-tax cash flow: $2,452/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): 35,105
• Household income: $51,919
• Rent vs Own: 42.8% rent · 57.2% own
• Severe rent burden: 1594.0

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 0.56)
• Race & ethnicity: Hispanic / Latino 59% Black 29% Two or more races 19% White 9% Native American 1%
• Hispanic origin (detail): Mexican 53%
• Common ancestry: Serbian 1% Slovak 1% Italian 1%
• Foreign-born: 25% · Canada
• Languages at home: 47% English-only · Spanish 51% 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: ▼ -285.86%
• Current HPI: 328.3162
• Rent YoY: ▲ 3.71%
• 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

-0.2% since first listed

15 events — show timeline

• 2026-05-12 Price Changed $199,500 NTREIS
• 2026-04-28 Price Changed $218,500 NTREIS
• 2026-04-06 Listed $225,000 NTREIS
• 2026-04-01 Listing Removed — NTREIS
• 2025-11-30 Price Changed $240,000 NTREIS
• 2025-08-10 Price Changed $260,000 NTREIS
• 2025-08-03 Price Changed $270,000 NTREIS
• 2025-07-24 Listed $280,000 NTREIS
• 2021-05-05 Sold (Public Records) — Public Records
• 2021-02-12 Price Changed $189,000 NTREIS
• 2021-01-27 Price Changed $199,000 NTREIS
• 2021-01-26 Listed $200,000 NTREIS
• 2019-05-17 Sold (Public Records) — Public Records
• 1999-05-26 Sold (Public Records) — Public Records
• 1999-03-01 Sold (Public Records) — Public Records

Property tax history

+7.4%/yr

Latest (2025): $5,716 · -0.4% YoY. Source: county tax records.