1502 Adelaide Dr · Dallas, TX 75216

$185,000

3 bd · 1.0 ba · 916 sqft · SingleFamily public records · 20 Days on market

Built 1948 7,754 sqft lot Est $185k · at est.

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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 +17.8/30.0
• ARV discount +7.5/15.0
• DSCR +5.6/10.0
• 1% rule +5.4/10.0
• Livability +4.0/5.0
• Rent growth +3.6/5.0
• Schools +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Don't miss out on this affordable 3 bed 2 bath with great bones! Tucked away on a deeply shaded, tree-lined lot, the house features ceramic tile flooring throughout the open living area, which flows right into the kitchen and breakfast bar. You will love the massive primary suite, a rare find at this price point, complete with vinyl flooring, a walk-in closet, and an attached private bath. This home is a low-maintenance blank canvas, ready for you to make it your own! Both bathrooms feature custom-tiled walk-in showers. Schedule your tour today!

Key facts

• Walk-in closet
• Open living area
• Breakfast bar

Tags

• CERAMIC TILE FLOORING
• OPEN LIVING AREA
• BREAKFAST BAR
• MASSIVE PRIMARY SUITE
• WALK-IN CLOSET
• ATTACHED PRIVATE BATH

Property features AI

Finance

• Financial info: Treat as clear loan type; No second mortgage
• HOA & community: No homeowners association

Exterior

• Parking: Driveway
• Utilities: City sewer; No municipal utility district
• Home design: Single family residence; Residential property; One level
• Construction: Built in 1948
• Exterior features: Lot is less than 0.5 acre (approximately 0.178 acres); Subdivision: Glendale Acres; Directions: turn left onto Adelaide Dr and stop at 1502

Interior

• Kitchen: Dishwasher; Vented exhaust fan
• Bedrooms: Primary bedroom on level 1
• Bathrooms: 2 full bathrooms
• Interior features: Open floorplan; One living area; One dining area; 2 total bathrooms; 3 total bedrooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $153 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $185k).
• Recommended offer: $182k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.3% 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: 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: H I Holland El At Lisbon (math 22% / reading 22%, grade F, #3,333 of 4,322 statewide, top 80%, 394 students, 98% FRL).
• Market conditions: Rents rising fast (+4.2%/yr); 253 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 9d on market — plan ~1-2 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 12,577 units permitted in Dallas County in 2024 (6,829 in 5+ unit buildings).
• At $1,925/mo this rent would consume 56% of the median local household income ($41k/yr) (locally 2465% 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 20 days — a 2% lower offer ($182k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $32k; list at $185k implies a 469% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: 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→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $182,225 (1.5% below list)

Questions for the listing agent

1. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.04% ✓
• Cap rate: 7.28%
• Cash-on-cash: 3.54%
• DSCR: 1.16
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $185,032
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1502 Montague Ave	0.07mi	3/2.0	1,029 (+12%)	2mo	$259,000	$252	71
4815 Bartlett Ave	0.42mi	3/1.0	914 (-0%)	17mo	$158,000	$173	66
1202 Waweenoc Ave	0.36mi	3/1.0	960 (+5%)	11mo	$249,900	$260	66
1823 Atlas Dr	0.41mi	2/1.0 (-1)	868 (-5%)	5mo	$90,000	$104	63
4731 Bartlett Ave	0.43mi	3/1.0	1,012 (+10%)	11mo	$125,000	$124	53
4516 Idaho Ave	0.66mi	3/1.0	967 (+6%)	10mo	$159,000	$164	52
1318 Waweenoc Ave	0.33mi	2/1.0 (-1)	789 (-14%)	8mo	$199,900	$253	50
4931 S Denley Dr	0.52mi	2/1.0 (-1)	1,001 (+9%)	14mo	$155,990	$156	44
4727 S Denley Dr	0.49mi	2/2.0 (-1)	816 (-11%)	8mo	$198,000	$243	43
4134 Kostner Ave	0.54mi	3/1.0	1,044 (+14%)	11mo	$211,000	$202	42
1335 E Ann Arbor Ave	0.46mi	3/1.5	1,040 (+14%)	18mo	$215,600	$207	39
1526 Grinnell St	0.71mi	2/1.0 (-1)	1,016 (+11%)	12mo	$119,000	$117	33

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 · 4.2% rent growth · sell at horizon

5-year hold

• IRR: -9.3%
• Equity multiple: 0.66×
• Total profit: $-17,806
• Equity at exit: $27,584

10-year hold

• IRR: 1.9%
• Equity multiple: 1.14×
• Total profit: $7,263
• Equity at exit: $15,995

Cash invested: $51,800 (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 75216

• Home prices YoY: -29.7%
• Rents YoY: 4.2%
• Active inventory: 253
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,925 high
• Mortgage (P&I): −$970
• Tax from tax record: −$321 /mo · $3,847/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$404
• Net cashflow: $153

Break-even live

Break-even rent $1,731

Max offer price $185,000

Occupancy floor 87%

Sensitivity live

Price	-10% $258	-5% $205	+0% $153	+5% $101	+10% $48
Rent	-10% $1	-5% $77	+0% $153	+5% $229	+10% $305
Rate	-1.0pp $246	-0.5pp $200	base $153	+0.5pp $105	+1.0pp $56

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1214 Adelaide Dr Dallas, TX	3.0	1.0	1040	$2,350	$2.26	8d	1	0.30mi
4934 Kildare Ave Dallas, TX	3.0	2.0	1118	$1,595	$1.43	25d	1	0.44mi
1435 Whispering Trl Dallas, TX	3.0	1.0	1047	$1,660	$1.59	8d	1	0.64mi
4417 S Lancaster Rd Dallas, TX	2.0	1.0–2.0	874	$1,595	$1.82	3d	1	0.68mi
1754 E Red Bird Ln Dallas, TX	3.0	1.5	1115	$1,675	$1.50	8d	1	0.89mi
1334 Marfa Ave Dallas, TX	3.0	2.0	1100	$1,475	$1.34	44d	1	0.95mi
1618 Marfa Ave Dallas, TX	3.0	2.0	1100	$1,900	$1.73	44d	1	1.04mi
3608 S Marsalis Ave Dallas, TX	2.0	1.0	907	$1,400	$1.54	44d	1	1.21mi
2111 Crouch Rd Dallas, TX	1.0–2.0	1.0–2.0	866	$1,277	$1.47	7d	1	1.41mi

Listing history 13 events

1. 2026-06-21
   days on market $185,000 Active 20 DOM
2. 2026-06-18
   days on market $185,000 Active 17 DOM
3. 2026-06-17
   days on market $185,000 Active 16 DOM
4. 2026-06-16
   days on market $185,000 Active 15 DOM
5. 2026-06-15
   days on market $185,000 Active 14 DOM
6. 2026-06-13
   days on market $185,000 Active 12 DOM
7. 2026-06-09
   days on market $185,000 Active 8 DOM
8. 2026-06-08
   days on market $185,000 Active 7 DOM
9. 2026-06-07
   days on market $185,000 Active 6 DOM
10. 2026-06-04
    days on market $185,000 Active 3 DOM
11. 2026-06-03
    days on market $185,000 Active 2 DOM
12. 2026-06-02
    remarks 551-char remark
13. 2026-06-02
    listed $185,000 Active 1 DOM

ⓘ 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: $3,847 · $321/mo
• Projected year-2 tax: $3,847 · $321/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 · 24 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: $23,099
• − Mortgage interest: −$10,363
• − Property taxes: −$3,847
• − Insurance: −$925
• − Repairs & maintenance: −$1,848
• − Management: −$1,848
• − Depreciation: −$5,382
• Taxable loss: −$1,113
• Est. tax savings @ 24.0%: +$267
• After-tax cash flow: $2,102/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): 55,894
• Household income: $41,386
• Rent vs Own: 44.2% rent · 55.8% own
• Severe rent burden: 2465.0

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: Majority Black (51%)
• Race & ethnicity: Black 51% Hispanic / Latino 44% Two or more races 14% White 3%
• Hispanic origin (detail): Mexican 40%
• Common ancestry: Hispanic 1%
• Foreign-born: 17% · Canada
• Languages at home: 62% English-only · Spanish 37%

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: ▼ -126.35%
• Current HPI: 299.1825
• Rent YoY: ▲ 4.20%
• 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

+469.2% since first listed

3 events — show timeline

• 2026-06-01 Listed $185,000 NTREIS
• 2024-07-16 Sold (Public Records) — Public Records
• 2005-05-13 Sold (Public Records) $32,500 Public Records

Property tax history

+10.2%/yr

Latest (2025): $3,847 · -0.4% YoY. Source: county tax records.