12806 Midway Rd #2020 · Dallas, TX 75244

$125,000

2 bd · 2.0 ba · 987 sqft · Condo public records · 106 Days on market

Built 1970 $127/sqft · 10% below area Est $139k · 10% under $523/mo HOA · 30% of rent

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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).

• ARV discount +12.1/15.0
• 1% rule +8.9/10.0
• Cash flow +7.5/30.0
• Livability +4.0/5.0
• Schools +2.8/10.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• DSCR +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

ALL MOVE-IN READY! PRICED TO SELL! Located in a desirable N. Dallas location and close to everything! Quiet second floor condo with no one above you. Gorgeous hard flooring through most of this condo. Generous living room has a ceiling fan and a big balcony. Kitchen has a pass-through bar. Both bedrooms are larger and each has a bath. Updated with Thermalpane windows = Low bills for You! Plenty of closet space. Outside there is reserved covered parking and a swimming pool. Laundry room just down the way. Plenty of pretty crape myrtle trees brighten the walkways most of the Summer. These condos can get loans; please see listing agent for details.

Key facts

• Second floor condo
• Pass-through bar
• Swimming pool

Tags

• SECOND FLOOR CONDO
• HARD FLOORING
• BIG BALCONY
• PASS-THROUGH BAR
• RESERVED COVERED PARKING
• SWIMMING POOL

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $125k.

Deal economics

• At list price, monthly cash flow is $-153 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $98k (21.6% below list).
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $98k (21.6% below list) — sets the bar for cash-flow.
• Cap rate 4.8% 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 soft (-1.7%/yr); 75 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 48% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 12,577 units permitted in Dallas County in 2024 (6,829 in 5+ unit buildings).
• This rent is only 17% of the median local income ($120k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k 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 106 days — a 9% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 8y ago; this cycle's ask is 7965% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: property tax is 2.8% of price; HOA is 30% of rent.
• 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 $97,992 (21.6% below list)

Questions for the listing agent

1. 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?
2. It's been on market 106 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
3. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. 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?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. 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?
10. 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?
11. 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.
12. 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.
13. 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: 1.39% ✓
• Cap rate: 4.83%
• Cash-on-cash: -5.24%
• DSCR: 0.77
• GRM: 6.0

CMA / ARV

• ARV (median comp): $139,241
• List price: $125,000
• Delta: -10.23%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -31.5%
• Equity multiple: 0.01×
• Total profit: $-34,646
• Equity at exit: $18,638

10-year hold

• IRR: -82.6%
• Equity multiple: -0.73×
• Total profit: $-60,606
• Equity at exit: $10,808

Cash invested: $35,000 (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 75244

• Rents YoY: -1.7%
• Active inventory: 75
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,735 high
• Mortgage (P&I): −$656
• Tax from tax record: −$293 /mo · $3,516/yr
• Insurance: −$52
• HOA: −$523
• Vacancy / Maint / Mgmt: −$364
• Net cashflow: $-153

Break-even live

Break-even rent $1,929

Max offer price $97,992

Occupancy floor —

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12810 Midway Rd Dallas, TX	2.0	2.0	851	$1,600	$1.88	43d	2	0.00mi
12806 Midway Rd #2024 Dallas, TX	1.0	1.5	732	$1,400	$1.91	43d	1	0.03mi
12802 Midway Rd #2016 Dallas, TX	2.0	2.0	864	$1,475	$1.71	43d	1	0.04mi
12824 Midway Rd Dallas, TX	2.0	2.0	850	$1,500	$1.76	43d	1	0.06mi
12816 Midway Rd #1049 Dallas, TX	2.0	2.0	851	$1,450	$1.70	19d	1	0.09mi
12818 Midway Rd Dallas, TX	1.0	1.0	625	$1,050	$1.68	43d	1	0.10mi
4139 Rosser Sq Dallas, TX	2.0	2.0	1096	$2,500	$2.28	15d	1	0.35mi
13342 Midway RD Whitesboro, TX	2.0	1.0–2.0	931	$3,320	$3.57	2d	39	0.37mi
13342 Midway Rd Farmers Branch, TX	1.0	1.0	774	$980	$1.27	43d	1	0.37mi
4040 Valley View Ln Farmers Branch, TX	3.0	1.0–2.0	1102	$3,104	$2.82	2d	67	0.39mi
4030 Valley View Ln Dallas, TX	1.0–2.0	1.0–2.0	851	$1,265	$1.49	19d	6	0.41mi
4020 McEwen Rd Dallas, TX	1.0	1.0–1.5	825	$1,988	$2.41	1d	12	0.45mi
4011 Rosser Sq Dallas, TX	2.0	2.0	1036	$2,695	$2.60	43d	1	0.49mi
4000 Sigma Rd Dallas, TX	1.0–3.0	1.0–2.0	1145	$1,896	$1.66	2d	17	0.75mi
4835 Lyndon B Johnson Fwy Ste 1100 Dallas, TX	1.0	1.0	575	$1,200	$2.09	43d	1	0.85mi
5005 Galleria Dr Unit 5042 Farmers Branch, TX	2.0	2.0	1106	$1,799	$1.63	43d	1	0.94mi
5005 Galleria Dr Unit 5026 Farmers Branch, TX	1.0	1.0	644	$1,259	$1.95	43d	1	0.94mi
5005 Galleria Dr Farmers Branch, TX	1.0–2.0	1.0–2.0	975	$2,365	$2.43	43d	10	0.94mi
5005 Galleria Dr Farmers Branch, TX	1.0–2.0	1.0–2.5	1341	$3,923	$2.92	2d	44	0.94mi
13505 Inwood Rd Dallas, TX	1.0–2.0	1.0–2.0	973	$2,424	$2.49	11d	27	0.98mi
3876 Ponte Ave Unit 873 Addison, TX	1.0	1.0	750	$1,179	$1.57	43d	1	1.15mi
3990 Vitruvian Way Addison, TX	1.0–2.0	1.0–2.5	1153	$3,152	$2.73	2d	30	1.16mi
3970 Vitruvian Way Addison, TX	1.0	1.0	829	$1,365	$1.65	22d	1	1.17mi
3970 Vitruvian Way Unit 1325 Addison, TX	1.0	1.0	828	$1,152	$1.39	43d	1	1.17mi
3970 Vitruvian Way Unit 11753 Addison, TX	1.0	1.0	842	$1,182	$1.40	43d	1	1.17mi
3850 Vitruvian Way Addison, TX	2.0	1.0–2.5	946	$2,662	$2.81	1d	34	1.18mi
3737 High Vista Dr Dallas, TX	1.0–3.0	1.0–2.0	990	$1,555	$1.57	3d	12	1.20mi
3737 Vitruvian Way Addison, TX	3.0	1.0–2.0	926	$2,106	$2.27	1d	94	1.21mi
4011 Vitruvian Way Addison, TX	1.0	1.0	810	$909	$1.12	43d	1	1.22mi
13100 Noel Rd Dallas, TX	2.0	1.0–2.0	800	$2,886	$3.61	43d	42	1.23mi
3950 Spring Valley Rd Apt 134 Farmers Branch, TX	2.0	2.0	1037	$1,570	$1.51	24d	1	1.24mi
3950 Spring Valley Rd Apt 134 Farmers Branch, TX	2.0	2.0	1037	$1,570	$1.51	43d	1	1.24mi
3950 Spring Valley Rd Apt 134 Farmers Branch, TX	1.0	1.0	620	$1,174	$1.89	24d	1	1.24mi
13242 Noel Rd Dallas, TX	1.0	1.0	808	$1,425	$1.76	22d	1	1.25mi
13242 Noel Rd Dallas, TX	1.0	1.0	808	$1,425	$1.76	43d	1	1.25mi
13290 Noel Rd Dallas, TX	2.0	1.0–2.0	1028	$2,625	$2.55	1d	21	1.26mi
3795 Brookhaven Club Dr Farmers Branch, TX	1.0	1.0	648	$1,199	$1.85	43d	1	1.28mi
13001 Cornell Dr Dallas, TX	2.0	1.0–2.5	960	$2,918	$3.04	2d	23	1.28mi
3925 Vitruvian Way Addison, TX	2.0	1.0–2.5	790	$1,595	$2.02	1d	89	1.29mi
13500 Noel Rd Dallas, TX	1.0–2.0	1.0–2.0	1043	$2,485	$2.38	1d	28	1.30mi

HOA detail condo

• Monthly dues: $523 · $6,276/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 25 events

1. 2026-06-18
   days on market $125,000 Active 106 DOM
2. 2026-06-17
   days on market $125,000 Active 105 DOM
3. 2026-06-16
   days on market $125,000 Active 104 DOM
4. 2026-06-15
   days on market $125,000 Active 103 DOM
5. 2026-06-13
   days on market $125,000 Active 101 DOM
6. 2026-06-09
   days on market $125,000 Active 97 DOM
7. 2026-06-08
   days on market $125,000 Active 96 DOM
8. 2026-06-07
   remarks 699-char remark
9. 2026-06-07
   days on market $125,000 Active 95 DOM
10. 2026-06-04
    pricedays on market $125,000 Active 92 DOM
11. 2026-06-03
    days on market $139,900 Active 91 DOM
12. 2026-06-02
    days on market $139,900 Active 90 DOM
13. 2026-06-02
    days on market $139,900 Active 89 DOM
14. 2026-05-31
    days on market $139,900 Active 88 DOM
15. 2026-03-05
    listed $1,550
16. 2026-03-04
    listed $139,900 Active 667-char remark

    Show marketing remark (667 chars)

    ALL MOVE-IN READY! PRICED TO SELL! Located in a desirable N. Dallas location and close to everything! Quiet second floor condo with no one above you. Gorgeous hard flooring through most of this condo. Generous living room has a ceiling fan and a big balcony. Kitchen has a pass-through bar. Both bedrooms are larger and each has a bath. Updated with Thermalpane windows = Low bills for You! Plenty of closet space. Outside there is reserved covered parking and a swimming pool. Laundry room just down the way. Plenty of pretty crape myrtle trees brighten the walkways most of the Summer. These condos can get loans; please see listing agent for details.

17. 2025-12-31
    soldstatus
18. 2025-12-29
    soldstatus Closed 537-char remark

    Show marketing remark (537 chars)

    Situated in the heart of North Dallas and with easy access to retail, dining and transportation, this snug-as-a-bug-in-a-rug condo keeps your life simple and is oh- so-affordable. Oodles of storage, a great layout with a formal living and dining room, an incredibly efficient kitchen and a charming covered patio that overlooks rows and rows of vibrant crepe myrtles to greet you in the warmer months. Take advantage of the laundry facilities and lounge by the pools with friends. Maybe this can be your Christmas gift to yourself!

19. 2025-12-16
    status Pending 537-char remark

    Show marketing remark (537 chars)

    Situated in the heart of North Dallas and with easy access to retail, dining and transportation, this snug-as-a-bug-in-a-rug condo keeps your life simple and is oh- so-affordable. Oodles of storage, a great layout with a formal living and dining room, an incredibly efficient kitchen and a charming covered patio that overlooks rows and rows of vibrant crepe myrtles to greet you in the warmer months. Take advantage of the laundry facilities and lounge by the pools with friends. Maybe this can be your Christmas gift to yourself!

20. 2025-12-10
    listed $100,000 Active 537-char remark

    Show marketing remark (537 chars)

    Situated in the heart of North Dallas and with easy access to retail, dining and transportation, this snug-as-a-bug-in-a-rug condo keeps your life simple and is oh- so-affordable. Oodles of storage, a great layout with a formal living and dining room, an incredibly efficient kitchen and a charming covered patio that overlooks rows and rows of vibrant crepe myrtles to greet you in the warmer months. Take advantage of the laundry facilities and lounge by the pools with friends. Maybe this can be your Christmas gift to yourself!

21. 2018-05-24
    soldstatus
22. 2018-05-23
    soldstatus Sold
23. 2018-05-04
    status Pending
24. 2018-04-30
    historical Active Option Contract
25. 2018-04-24
    listed $100,000 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: $3,516 · $293/mo
• Projected year-2 tax: $3,516 · $293/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 ≥109°F today · 23 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,821
• − Mortgage interest: −$7,002
• − Property taxes: −$3,516
• − Insurance: −$625
• − Repairs & maintenance: −$1,666
• − Management: −$1,666
• − HOA: −$6,276
• − Depreciation: −$3,636
• Taxable loss: −$3,566
• Est. tax savings @ 24.0%: +$856
• After-tax cash flow: $-979/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): 13,389
• Household income: $120,286
• Rent vs Own: 48.7% rent · 51.3% own
• Severe rent burden: 699.0

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 0.63)
• Race & ethnicity: White 56% Hispanic / Latino 23% Two or more races 15% Black 8% Asian 7%
• Hispanic origin (detail): Mexican 17% Puerto Rican 1%
• Common ancestry: Slovak 2% Serbian 2% Lithuanian 1%
• Foreign-born: 19% · Canada, China, Vietnam
• Languages at home: 71% English-only · Spanish 17% Arabic 4% Other Asian/Pacific 2%

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: ▼ -397.33%
• Current HPI: 348.7896
• Rent YoY: ▼ -1.70%
• 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

-98.5% since first listed

11 events — show timeline

• 2026-03-05 Listed for Rent $1,550 NTREIS
• 2026-03-04 Listed $139,900 NTREIS
• 2025-12-31 Sold (Public Records) — Public Records
• 2025-12-29 Sold (MLS) — NTREIS
• 2025-12-16 Pending — NTREIS
• 2025-12-10 Listed $100,000 NTREIS
• 2018-05-24 Sold (Public Records) — Public Records
• 2018-05-23 Sold (MLS) — NTREIS
• 2018-05-04 Pending — NTREIS
• 2018-04-30 Contingent — NTREIS
• 2018-04-24 Listed $100,000 NTREIS

Property tax history

+5.8%/yr

Latest (2025): $3,516 · -0.4% YoY. Source: county tax records.