2323 Deer Path Dr · Dallas, TX 75216

$114,500

2 bd · 1.0 ba · 790 sqft · SingleFamily public records · 94 Days on market

Built 1949 7,928 sqft lot $145/sqft · 17% below area Est $138k · 17% under

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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 +29.2/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.3/10.0
• 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 MLS

Prime Investment Opportunity with a Major Price Drop! Attention investors, flippers, and visionaries: this is the deal you have been waiting for. Listed at a newly improved price of $114,500 , this solid 2-bedroom , 1-bath starter home is a blank canvas ready for your next project. Situated in a location that checks every box, it offers close proximity to downtown and public transportation right at your doorstep. It features concrete street frontage and convenient alley access, making construction logistics clean and easy for your crew. The spacious 0.182-acre lot provides rare flexibility. You can expand the existing 790-square-foot footprint , add an ADU for additional rental income, or maximize the land value with a complete rebuild. Whether you are a seasoned flipper ready to execute a high-ROI renovation or a buy-and-hold investor looking to plant roots in an appreciating neighborhood, the bones are here. Bring your vision!

Key facts

• 7,928 sq ft lot
• Garage
• Built 1949

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $114k.

Deal economics

• At list price, monthly cash flow is $398 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $114k).
• Recommended offer: $104k (9.0% below list) — sets the bar for market timing.
• Cap rate 10.5% 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 fast (+4.2%/yr); 249 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 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 $1,641/mo this rent would consume 48% 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 $792 of loan paydown is wiped out by about $3k 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 + 4.2% rent growth), your $32k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 94 days — a 9% lower offer ($104k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 21y ago; this cycle's ask has dropped $36k (24%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1949 — 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 $104,195 (9.0% below list)

Questions for the listing agent

1. It's been on market 94 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1949 — 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. 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. 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?
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 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: 1.43% ✓
• Cap rate: 10.46%
• Cash-on-cash: 14.90%
• DSCR: 1.66
• GRM: 5.8

CMA / ARV

• ARV (median comp): $137,950
• List price: $114,500
• Delta: -17.00%
• 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
2323 Deer Path Dr	0.00mi	2/1.0	790 (0%)	1mo	$114,500	$145	99
2437 Stovall Dr	0.14mi	2/1.0	768 (-3%)	7mo	$135,000	$176	83
2348 Village Way	0.08mi	2/1.0	840 (+6%)	6mo	$125,000	$149	80
2332 Village Way	0.12mi	2/1.0	768 (-3%)	11mo	$97,000	$126	80
2449 Stovall Dr	0.11mi	3/2.0 (+1)	816 (+3%)	10mo	$134,900	$165	72
2541 Fordham Rd	0.55mi	2/1.0	816 (+3%)	2mo	$185,000	$227	68
2603 Volga Ave	0.43mi	2/1.0	812 (+3%)	13mo	$175,000	$216	64
2546 Jennings Ave	0.52mi	2/1.0	820 (+4%)	8mo	$185,000	$226	62
2414 Marfa Ave	0.36mi	2/1.0	896 (+13%)	11mo	$140,000	$156	52
2510 Wilhurt Ave	0.70mi	2/1.0	888 (+12%)	2mo	$130,000	$146	45
2751 Exeter Ave	0.70mi	2/1.0	721 (-9%)	11mo	$180,000	$250	43
1926 E Overton Rd	0.69mi	3/2.0 (+1)	744 (-6%)	10mo	$225,000	$302	40

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: 7.0%
• Equity multiple: 1.28×
• Total profit: $8,894
• Equity at exit: $17,072

10-year hold

• IRR: 17.5%
• Equity multiple: 2.53×
• Total profit: $49,187
• Equity at exit: $9,900

Cash invested: $32,060 (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: 249
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,641 high
• Mortgage (P&I): −$600
• Tax from tax record: −$250 /mo · $2,998/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$345
• Net cashflow: $398

Break-even live

Break-even rent $1,137

Max offer price $114,500

Occupancy floor 71%

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: $28,625
• Closing costs: $3,435
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2303 Deer Path Dr Dallas, TX	2.0	1.0	790	$1,650	$2.09	7d	1	0.06mi
2538 Stovall Dr Dallas, TX	3.0	1.0	986	$1,625	$1.65	5d	1	0.07mi
3206 Kellogg Ave Dallas, TX	3.0	1.5	1076	$1,800	$1.67	43d	1	0.07mi
3320 Mundy Dr Dallas, TX	3.0	2.0	1010	$1,695	$1.68	43d	1	0.12mi
2503 Stovall Dr Dallas, TX	2.0	2.0	768	$2,300	$2.99	43d	1	0.13mi
2625 E Illinois Ave Dallas, TX	2.0	1.0	750	$1,050	$1.40	3d	1	0.52mi
2625 E Illinois Ave Dallas, TX	2.0	1.0	750	$1,050	$1.40	19d	1	0.52mi
2625 E Illinois Ave Unit 118 Dallas, TX	1.0	1.0	650	$999	$1.54	19d	1	0.52mi
2625 E Illinois Ave Dallas, TX	1.0–2.0	1.0	700	$1,050	$1.50	12d	18	0.52mi
2625 E Illinois Ave Dallas, TX	1.0	1.0	650	$950	$1.46	18d	1	0.52mi
2625 E Illinois Ave Dallas, TX	1.0	1.0	650	$999	$1.54	24d	1	0.52mi
2625 E Illinois Ave Unit 102 Dallas, TX	2.0	1.0	750	$1,050	$1.40	24d	1	0.53mi
2821 E Kiest Blvd Dallas, TX	1.0	1.0	700	$990	$1.41	7d	1	0.76mi
2906 E Kiest Blvd Dallas, TX	2.0–3.0	1.0–2.0	798	$1,235	$1.55	1d	5	0.96mi
1618 Marfa Ave Dallas, TX	3.0	2.0	1100	$1,900	$1.73	43d	1	1.06mi
4417 S Lancaster Rd Dallas, TX	2.0	1.0–2.0	874	$1,595	$1.82	2d	1	1.28mi
1334 Marfa Ave Dallas, TX	3.0	2.0	1100	$1,475	$1.34	43d	1	1.31mi
1427 Diceman Ave Dallas, TX	3.0	2.0	890	$1,600	$1.80	24d	1	1.35mi
2423 Maryland Ave Dallas, TX	2.0	2.0	1102	$2,350	$2.13	43d	1	1.47mi
4836 Sunnyvale St Dallas, TX	1.0–3.0	1.0–2.0	515	$1,330	$2.58	43d	7	1.48mi

Listing history 15 events

1. 2026-05-11
   status Pending 942-char remark

   Show marketing remark (942 chars)

   Prime Investment Opportunity with a Major Price Drop! Attention investors, flippers, and visionaries: this is the deal you have been waiting for. Listed at a newly improved price of $114,500 , this solid 2-bedroom , 1-bath starter home is a blank canvas ready for your next project. Situated in a location that checks every box, it offers close proximity to downtown and public transportation right at your doorstep. It features concrete street frontage and convenient alley access, making construction logistics clean and easy for your crew. The spacious 0.182-acre lot provides rare flexibility. You can expand the existing 790-square-foot footprint , add an ADU for additional rental income, or maximize the land value with a complete rebuild. Whether you are a seasoned flipper ready to execute a high-ROI renovation or a buy-and-hold investor looking to plant roots in an appreciating neighborhood, the bones are here. Bring your vision!

2. 2026-05-08
   historical Active Option Contract 942-char remark

   Show marketing remark (942 chars)

   Prime Investment Opportunity with a Major Price Drop! Attention investors, flippers, and visionaries: this is the deal you have been waiting for. Listed at a newly improved price of $114,500 , this solid 2-bedroom , 1-bath starter home is a blank canvas ready for your next project. Situated in a location that checks every box, it offers close proximity to downtown and public transportation right at your doorstep. It features concrete street frontage and convenient alley access, making construction logistics clean and easy for your crew. The spacious 0.182-acre lot provides rare flexibility. You can expand the existing 790-square-foot footprint , add an ADU for additional rental income, or maximize the land value with a complete rebuild. Whether you are a seasoned flipper ready to execute a high-ROI renovation or a buy-and-hold investor looking to plant roots in an appreciating neighborhood, the bones are here. Bring your vision!

3. 2026-04-27
   price $114,500 942-char remark

   Show marketing remark (942 chars)

   Prime Investment Opportunity with a Major Price Drop! Attention investors, flippers, and visionaries: this is the deal you have been waiting for. Listed at a newly improved price of $114,500 , this solid 2-bedroom , 1-bath starter home is a blank canvas ready for your next project. Situated in a location that checks every box, it offers close proximity to downtown and public transportation right at your doorstep. It features concrete street frontage and convenient alley access, making construction logistics clean and easy for your crew. The spacious 0.182-acre lot provides rare flexibility. You can expand the existing 790-square-foot footprint , add an ADU for additional rental income, or maximize the land value with a complete rebuild. Whether you are a seasoned flipper ready to execute a high-ROI renovation or a buy-and-hold investor looking to plant roots in an appreciating neighborhood, the bones are here. Bring your vision!

4. 2026-03-12
   price $125,000 942-char remark

   Show marketing remark (942 chars)

   Prime Investment Opportunity with a Major Price Drop! Attention investors, flippers, and visionaries: this is the deal you have been waiting for. Listed at a newly improved price of $114,500 , this solid 2-bedroom , 1-bath starter home is a blank canvas ready for your next project. Situated in a location that checks every box, it offers close proximity to downtown and public transportation right at your doorstep. It features concrete street frontage and convenient alley access, making construction logistics clean and easy for your crew. The spacious 0.182-acre lot provides rare flexibility. You can expand the existing 790-square-foot footprint , add an ADU for additional rental income, or maximize the land value with a complete rebuild. Whether you are a seasoned flipper ready to execute a high-ROI renovation or a buy-and-hold investor looking to plant roots in an appreciating neighborhood, the bones are here. Bring your vision!

5. 2026-02-06
   listed $150,000 Active 942-char remark

   Show marketing remark (942 chars)

   Prime Investment Opportunity with a Major Price Drop! Attention investors, flippers, and visionaries: this is the deal you have been waiting for. Listed at a newly improved price of $114,500 , this solid 2-bedroom , 1-bath starter home is a blank canvas ready for your next project. Situated in a location that checks every box, it offers close proximity to downtown and public transportation right at your doorstep. It features concrete street frontage and convenient alley access, making construction logistics clean and easy for your crew. The spacious 0.182-acre lot provides rare flexibility. You can expand the existing 790-square-foot footprint , add an ADU for additional rental income, or maximize the land value with a complete rebuild. Whether you are a seasoned flipper ready to execute a high-ROI renovation or a buy-and-hold investor looking to plant roots in an appreciating neighborhood, the bones are here. Bring your vision!

6. 2019-12-02
   soldstatus
7. 2019-05-06
   status Pending
8. 2019-05-06
   historical
9. 2019-04-01
   listed $80,000 Active
10. 2006-07-11
    soldstatus
11. 2006-07-07
    soldstatus
12. 2006-06-15
    historical
13. 2005-10-10
    listed $20,000
14. 2000-10-04
    soldstatus
15. 1998-05-27
    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: $2,998 · $250/mo
• Projected year-2 tax: $2,998 · $250/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 · 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: $19,687
• − Mortgage interest: −$6,414
• − Property taxes: −$2,998
• − Insurance: −$572
• − Repairs & maintenance: −$1,575
• − Management: −$1,575
• − Depreciation: −$3,331
• Taxable income: $3,222
• Est. tax owed @ 24.0%: −$773
• After-tax cash flow: $4,004/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

+472.5% since first listed

15 events — show timeline

• 2026-05-11 Pending — NTREIS
• 2026-05-08 Contingent — NTREIS
• 2026-04-27 Price Changed $114,500 NTREIS
• 2026-03-12 Price Changed $125,000 NTREIS
• 2026-02-06 Listed $150,000 NTREIS
• 2019-12-02 Sold (Public Records) — Public Records
• 2019-05-06 Pending — NTREIS
• 2019-05-06 Listing Removed — NTREIS
• 2019-04-01 Listed $80,000 NTREIS
• 2006-07-11 Sold (Public Records) — Public Records
• 2006-07-07 Sold (MLS) — NTREIS
• 2006-06-15 Listing Removed — NTREIS
• 2005-10-10 Listed $20,000 NTREIS
• 2000-10-04 Sold (Public Records) — Public Records
• 1998-05-27 Sold (Public Records) — Public Records

Property tax history

+9.6%/yr

Latest (2025): $2,998 · -0.4% YoY. Source: county tax records.