2840 Patricia Ln #104 · Garland, TX 75041

$125,000

2 bd · 1.0 ba · 872 sqft · Condo public records · 29 Days on market

Built 1980 $312/mo HOA · 21% 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).

• Cash flow +11.3/30.0
• ARV discount +7.5/15.0
• 1% rule +6.7/10.0
• Livability +3.7/5.0
• DSCR +3.3/10.0
• Rent growth +3.3/5.0
• Schools +2.9/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This 2-bedroom, 2-bath first-floor end-unit condo offers a practical layout and a convenient location in Garland. Featuring a comfortable living area, functional kitchen with modern appliances, and two full bathrooms, this home is ideal for buyers looking for an affordable option with easy access to everyday conveniences. The end-unit location provides additional privacy and natural light, while the first-floor access adds convenience with no stairs to climb. Located near shopping, dining, and major highways, commuting to Downtown Dallas and surrounding areas is simple and convenient. Whether you're looking for a starter home, investment property, or low-maintenance living, this condo offer

Key facts

• Easy access
• End unit
• Natural light

Tags

• FIRST FLOOR
• END UNIT
• NATURAL LIGHT
• CONVENIENT LOCATION
• EASY ACCESS

Property features AI

Finance

• Other: Property type: Residential condominium; Property is attached; Possession at closing/funding
• Financial info: Listing accepts cash and conventional financing
• HOA & community: Mandatory association; Monthly association fee of $312; Association covers grounds maintenance and management fees; HOA managed by Texas Homeowners Association

Exterior

• Parking: Common/community parking structure
• Security: No specific security features provided
• Utilities: Cable available; Electricity available; Not in a municipal utility district
• Home design: Condominium (attached); One story; Built in 1980; Subdivision: English Estates
• Construction: Brick construction; Slab foundation
• Exterior features: Condominium/townhome lot setting; All-weather road access

Interior

• Kitchen: Dishwasher; Disposal; Refrigerator; Eat-in kitchen with pantry
• Bedrooms: Two bedrooms (both on the main level)
• Flooring: No flooring information provided
• Bathrooms: Two full bathrooms
• Heating & cooling: Central heating; Central air; Ceiling fan(s)
• Interior features: Cable TV available; Chandelier; Decorative lighting; Eat-in kitchen; Paneling; Pantry; Five total rooms; One living area; One dining area; One-level layout
• Laundry & utility: No specific laundry details provided

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $125k.

Deal economics

• At list price, monthly cash flow is $-45 ($-538/yr) — negative.
• To cash-flow at today's rent, offer at most $117k (6.3% below list).
• Meets the 1% rule at list price ($1k rent vs $125k).
• Recommended offer: $117k (6.3% below list) — sets the bar for cash-flow.
• Cap rate 5.9% vs local median 3.5% in Garland — 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 74/100 on livability (#165 in TX, #4,447 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, cost of living A-; Watch: amenities C-, health & safety F.
• Garland ISD (suburban): math 27% / reading 37% proficiency, ranked #553 of 826 in TX (top 67%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Daugherty El (math 22% / reading 29%, grade F, #2,982 of 4,322 statewide, top 70%, 810 students, 94% FRL); B G Hudson Middle (math 33% / reading 42%, grade F, #736 of 1,662 statewide, top 45%, 1,207 students, 50% FRL); Sachse H S (math 46% / reading 53%, grade D, #509 of 1,632 statewide, top 34%, 2,997 students, 43% FRL).
• Market conditions: Rents rising (+3.4%/yr); 102 active listings in the ZIP; 27 comparable units currently listed for rent nearby; rentals at typical pace (median 27d on market — plan ~3-4 weeks tenant-placement turnaround); 41% 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).

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 29 days — a 2% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 21% of rent.

Recommended offer $117,083 (6.3% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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?
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 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: 1.17% ✓
• Cap rate: 5.86%
• Cash-on-cash: -1.54%
• DSCR: 0.93
• GRM: 7.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.38% rent growth · sell at horizon

5-year hold

• IRR: -18.0%
• Equity multiple: 0.36×
• Total profit: $-22,323
• Equity at exit: $18,638

10-year hold

• IRR: -8.9%
• Equity multiple: 0.43×
• Total profit: $-19,879
• 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 75041

• Home prices YoY: -31.0%
• Rents YoY: 3.4%
• Active inventory: 102
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,458 high
• Mortgage (P&I): −$656
• Tax from tax record: −$177 /mo · $2,129/yr
• Insurance: −$52
• HOA: −$312
• Vacancy / Maint / Mgmt: −$306
• Net cashflow: $-45

Break-even live

Break-even rent $1,515

Max offer price $117,083

Occupancy floor 98%

Sensitivity live

Price	-10% $26	-5% $-9	+0% $-45	+5% $-80	+10% $-116
Rent	-10% $-160	-5% $-102	+0% $-45	+5% $13	+10% $70
Rate	-1.0pp $18	-0.5pp $-13	base $-45	+0.5pp $-77	+1.0pp $-110

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 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2826 Wimbledon Ct Unit D Garland, TX	2.0	1.5	1040	$1,175	$1.13	23d	1	0.07mi
2822 Wimbledon Ct Unit C Garland, TX	2.0	1.5	1040	$1,200	$1.15	26d	1	0.08mi
2813 Wimbledon Ct Unit D Garland, TX	2.0	1.5	1040	$1,350	$1.30	45d	1	0.11mi
2717 Patricia Ln Unit B Garland, TX	2.0	1.0	700	$1,550	$2.21	26d	1	0.11mi
2717 Patricia Ln Garland, TX	2.0	1.0	700	$1,550	$2.21	45d	1	0.12mi
2713 Wimbledon Ct Unit D Garland, TX	2.0	2.0	1040	$1,295	$1.25	17d	1	0.14mi
2710 Wimbledon Ct Apt B Garland, TX	2.0	1.5	1040	$1,350	$1.30	26d	1	0.14mi
2802 Wimbledon Ct Apt D Garland, TX	2.0	1.5	1040	$1,150	$1.11	17d	1	0.15mi
2802 Wimbledon Ct Garland, TX	2.0	2.0	1040	$1,300	$1.25	45d	1	0.15mi
2718 Wimbledon Ct Unit C Garland, TX	2.0	1.5	1040	$1,350	$1.30	1d	1	0.17mi
3033 Ballinger Dr Garland, TX	2.0	1.0	768	$1,600	$2.08	26d	1	0.25mi
2233 Huskey St Garland, TX	3.0	2.0	1040	$2,195	$2.11	45d	1	0.28mi
1713 Kirkwood Dr Garland, TX	3.0	2.0	971	$1,745	$1.80	10d	1	0.37mi
1939 Cranford Dr #102 Garland, TX	2.0	1.0	900	$1,250	$1.39	45d	1	0.37mi
1935 Cranford Dr Unit 104 Garland, TX	2.0	2.0	900	$1,295	$1.44	45d	1	0.39mi
1935 Cranford Dr Unit 1935-104 Garland, TX	2.0	2.0	900	$1,350	$1.50	45d	1	0.39mi
1935 Cranford Dr Unit 1939-102 Garland, TX	2.0	1.0	900	$1,250	$1.39	45d	1	0.39mi
2848 Beasley Dr Garland, TX	3.0	1.0	1014	$1,625	$1.60	21d	1	0.43mi
2848 Beasley Dr Garland, TX	3.0	1.0	1014	$1,625	$1.60	26d	1	0.43mi
1821 Randolph Dr Garland, TX	2.0	1.0	847	$1,395	$1.65	45d	1	0.51mi
1201 Winifred Dr Garland, TX	1.0	1.0	688	$1,049	$1.52	45d	2	0.90mi
2121 S Glenbrook Dr Garland, TX	1.0–2.0	1.0–2.0	1012	$1,550	$1.53	4d	6	1.01mi
724 W Miller Rd Garland, TX	1.0	1.0	700	$1,285	$1.84	5d	1	1.33mi
1702 Edgefield Dr Garland, TX	2.0	1.0–2.0	626	$1,470	$2.35	0d	63	1.33mi
1540 Edgefield Dr Garland, TX	1.0–2.0	1.0–2.0	775	$1,740	$2.25	1d	23	1.38mi
1222 S Shiloh Rd Unit S-102 Garland, TX	2.0	1.0	920	$1,200	$1.30	45d	1	1.40mi
1425 Cedarcrest Dr Garland, TX	2.0	1.0	1064	$1,650	$1.55	26d	1	1.43mi

HOA detail condo

• Monthly dues: $312 · $3,744/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 26 events

1. 2026-06-17
   days on market $125,000 Active 29 DOM
2. 2026-06-16
   days on market $125,000 Active 28 DOM
3. 2026-06-15
   days on market $125,000 Active 27 DOM
4. 2026-06-13
   days on market $125,000 Active 25 DOM
5. 2026-06-09
   days on market $125,000 Active 21 DOM
6. 2026-06-08
   days on market $125,000 Active 20 DOM
7. 2026-06-07
   days on market $125,000 Active 19 DOM
8. 2026-06-04
   days on market $125,000 Active 16 DOM
9. 2026-06-03
   days on market $125,000 Active 15 DOM
10. 2026-06-02
    days on market $125,000 Active 14 DOM
11. 2026-06-01
    pricedays on market $125,000 Active 13 DOM
12. 2026-05-31
    days on market $135,000 Active 12 DOM
13. 2026-05-19
    listed $135,000 Active
14. 2025-11-30
    historical
15. 2025-07-08
    price $143,000
16. 2025-06-23
    price $134,000
17. 2025-06-14
    price $143,000
18. 2025-05-26
    listed $169,000 Active
19. 2024-10-31
    historical
20. 2024-05-04
    listed $100,000 Active
21. 2022-09-07
    soldstatus
22. 2022-08-29
    soldstatus Closed
23. 2022-07-07
    status Pending
24. 2022-06-23
    listed $87,895 Active
25. 1993-04-23
    soldstatus
26. 1992-03-24
    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: $2,129 · $177/mo
• Projected year-2 tax: $2,288 · $191/mo
• Expected delta: +$159/yr (+$13/mo · 7.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $17,501
• − Mortgage interest: −$7,002
• − Property taxes: −$2,129
• − Insurance: −$625
• − Repairs & maintenance: −$1,400
• − Management: −$1,400
• − HOA: −$3,744
• − Depreciation: −$3,636
• Taxable loss: −$2,435
• Est. tax savings @ 24.0%: +$584
• After-tax cash flow: $47/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: Garland ISD
• NCES district ID: 4820340
• Math proficiency: 27% ▼ -23.00%
• Reading proficiency: 37% ▼ -10.00%
• Median HH income: $58,392
• Composite: 28.63/100
• National rank: #6706
• State rank: #553 of 826 in TX

Livability — Garland

• Score: 74/100
• State rank: #165
• US rank: #4447

Category grades

Amenities C- Commute A+ Cost of living A- Crime C+ Employment B Housing A+ Health & safety F User ratings B-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Garland, TX
• County: Dallas County · 2,612,404 people
• City population: 246,342
• Metro: Dallas-Fort Worth-Arlington, TX
• Population (ZIP): 32,943
• Household income: $70,308
• Rent vs Own: 41.2% rent · 58.8% own
• Severe rent burden: 910.0

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 (70%)
• Race & ethnicity: Hispanic / Latino 70% Two or more races 39% White 20% Black 6% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 53%
• Common ancestry: Slovak 1% Lithuanian 1% Serbian 1%
• Foreign-born: 34% · Canada, Jamaica, Vietnam
• Languages at home: 33% English-only · Spanish 63% Vietnamese 1% 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: ▼ -145.65%
• Current HPI: 324.7929
• Rent YoY: ▲ 3.38%
• 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

+53.6% since first listed

14 events — show timeline

• 2026-05-19 Listed $135,000 NTREIS
• 2025-11-30 Listing Removed — NTREIS
• 2025-07-08 Price Changed $143,000 NTREIS
• 2025-06-23 Price Changed $134,000 NTREIS
• 2025-06-14 Price Changed $143,000 NTREIS
• 2025-05-26 Listed $169,000 NTREIS
• 2024-10-31 Listing Removed — NTREIS
• 2024-05-04 Listed $100,000 NTREIS
• 2022-09-07 Sold (Public Records) — Public Records
• 2022-08-29 Sold (MLS) — NTREIS
• 2022-07-07 Pending — NTREIS
• 2022-06-23 Listed $87,895 NTREIS
• 1993-04-23 Sold (Public Records) — Public Records
• 1992-03-24 Sold (Public Records) — Public Records

Property tax history

+6.8%/yr

Latest (2025): $2,129 · +5.3% YoY. Source: county tax records.