2404 Maryland Ave · Dallas, TX 75216

$250,000

4 bd · 2.0 ba · 1,200 sqft · MultiFamily public records · 57 Days on market

Built 1925 7,405 sqft lot $208/sqft · 18% above area Est $212k · 18% over ↓ 29% since listing

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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 +26.0/30.0
• DSCR +8.7/10.0
• 1% rule +7.6/10.0
• Livability +4.0/5.0
• Rent growth +3.6/5.0
• Schools +2.8/10.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

2404 and 2406 Maryland Ave, Dallas, Tx is the investment you have been seeking. Beautifully updated and ready for a new owner. The Seller is offering the entire property. Both sides 2404 and 2406 are currently occupied. This area is very close to I35 making a quick trip to either downtown Dallas, South to the DeSoto and Lancaster area or across I35 to the Bishop Arts District. Centrally located to meet the needs of a large pool of renters. The owner has replaced the roof, added mini splits to both sides, taken care of the insulation and the electric panels. Buyer to verify all information. All information is deemed reliable but not guaranteed.

Key facts

• Insulation
• Updated
• Centrally located

Tags

• UPDATED
• REPLACED ROOF
• ADDED MINI SPLITS
• INSULATION
• ELECTRIC PANELS
• CENTRALLY LOCATED

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $250k.

Deal economics

• At list price, monthly cash flow is $621 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $250k).
• Recommended offer: $242k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.3% 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: 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; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $3,155/mo this rent would consume 91% 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 $2k of loan paydown is wiped out by about $8k 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 $70k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 57 days — a 3% lower offer ($242k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1925 — 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 $242,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 57 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 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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 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: 1.26% ✓
• Cap rate: 9.27%
• Cash-on-cash: 10.64%
• DSCR: 1.47
• GRM: 6.6

CMA / ARV

• ARV (median comp): $212,138
• List price: $250,000
• Delta: 17.85%
• Verdict: OVERPRICED
• Comps: 8 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.2% rent growth · sell at horizon

5-year hold

• IRR: 1.1%
• Equity multiple: 1.04×
• Total profit: $3,018
• Equity at exit: $37,276

10-year hold

• IRR: 12.0%
• Equity multiple: 2.00×
• Total profit: $70,301
• Equity at exit: $21,615

Cash invested: $70,000 (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 75216

• Home prices YoY: -29.7%
• Rents YoY: 4.2%
• Active inventory: 249
• Price-to-rent: 13.2×

Monthly cashflow live

• Estimated rent: $3,155 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$456 /mo · $5,478/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$663
• Net cashflow: $621

Break-even live

Break-even rent $2,369

Max offer price $250,000

Occupancy floor 75%

Sensitivity live

Price	-10% $762	-5% $692	+0% $621	+5% $550	+10% $479
Rent	-10% $372	-5% $496	+0% $621	+5% $745	+10% $870
Rate	-1.0pp $747	-0.5pp $684	base $621	+0.5pp $556	+1.0pp $490

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	2	$3,154
Total (2 units)			$3,155

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2126 Ramsey Ave Dallas, TX	4.0	1.5	1416	$2,300	$1.62	44d	1	0.46mi
2826 Alaska Ave Dallas, TX	3.0	2.0	1190	$1,790	$1.50	0d	1	0.49mi
2634 Seevers Ave Dallas, TX	3.0	2.0	1000	$1,800	$1.80	25d	1	0.55mi
2819 Alabama Ave Dallas, TX	3.0	2.0	1218	$1,925	$1.58	44d	1	0.59mi
715 Dover St Dallas, TX	3.0	2.0	1180	$1,895	$1.61	0d	1	0.80mi
1310 Michigan Ave Dallas, TX	3.0	2.0	972	$1,900	$1.95	25d	1	0.97mi
1717 Hemphill Dr Dallas, TX	3.0	1.0	1222	$1,695	$1.39	25d	1	1.10mi
2723 Kellogg Ave Dallas, TX	3.0	2.0	1255	$1,700	$1.35	8d	1	1.13mi
1805 S Zang Blvd Dallas, TX	1.0–3.0	1.0–2.0	940	$1,701	$1.81	8d	1	1.14mi
1018 E Waco Ave Dallas, TX	3.0	1.0	1112	$1,395	$1.25	45d	1	1.15mi
2118 Berwick Ave Dallas, TX	3.0	2.0	1286	$2,188	$1.70	8d	1	1.18mi
1825 Dudley Ave Dallas, TX	4.0	2.0	1228	$2,400	$1.95	2d	1	1.31mi
1618 Marfa Ave Dallas, TX	3.0	2.0	1100	$1,900	$1.73	44d	1	1.34mi
1334 Marfa Ave Dallas, TX	3.0	2.0	1100	$1,475	$1.34	44d	1	1.37mi
3206 Kellogg Ave Dallas, TX	3.0	1.5	1076	$1,800	$1.67	44d	1	1.39mi
620 Lacewood Dr Dallas, TX	3.0	1.0	1218	$1,750	$1.44	3d	1	1.47mi
2538 Stovall Dr Dallas, TX	3.0	1.0	986	$1,625	$1.65	6d	1	1.49mi

Listing history 23 events

1. 2026-06-18
   days on market $250,000 Active 57 DOM
2. 2026-06-17
   days on market $250,000 Active 56 DOM
3. 2026-06-16
   days on market $250,000 Active 55 DOM
4. 2026-06-15
   days on market $250,000 Active 54 DOM
5. 2026-06-13
   days on market $250,000 Active 52 DOM
6. 2026-06-09
   days on market $250,000 Active 48 DOM
7. 2026-06-08
   days on market $250,000 Active 47 DOM
8. 2026-06-07
   days on market $250,000 Active 46 DOM
9. 2026-06-04
   days on market $250,000 Active 43 DOM
10. 2026-06-03
    days on market $250,000 Active 42 DOM
11. 2026-06-02
    days on market $250,000 Active 41 DOM
12. 2026-06-01
    days on market $250,000 Active 40 DOM
13. 2026-05-31
    days on market $250,000 Active 39 DOM
14. 2026-04-21
    listed $250,000 Active 658-char remark

    Show marketing remark (658 chars)

    2404 and 2406 Maryland Ave, Dallas, Tx is the investment you have been seeking. Beautifully updated and ready for a new owner. The Seller is offering the entire property. Both sides 2404 and 2406 are currently occupied. This area is very close to I35 making a quick trip to either downtown Dallas, South to the DeSoto and Lancaster area or across I35 to the Bishop Arts District. Centrally located to meet the needs of a large pool of renters. The owner has replaced the roof, added mini splits to both sides, taken care of the insulation and the electric panels. Buyer to verify all information. All information is deemed reliable but not guaranteed.

15. 2025-07-09
    historical
16. 2025-06-25
    price $280,000
17. 2025-05-28
    price $300,000
18. 2025-04-28
    price $320,000
19. 2025-04-15
    price $340,000
20. 2025-02-28
    listed $350,000 Active
21. 2023-07-25
    soldstatus
22. 2022-08-23
    soldstatus
23. 2002-02-27
    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: $5,478 · $456/mo
• Projected year-2 tax: $5,478 · $456/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: $37,860
• − Mortgage interest: −$14,004
• − Property taxes: −$5,478
• − Insurance: −$1,250
• − Repairs & maintenance: −$3,029
• − Management: −$3,029
• − Depreciation: −$7,273
• Taxable income: $3,798
• Est. tax owed @ 24.0%: −$912
• After-tax cash flow: $6,538/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

-28.6% since first listed

10 events — show timeline

• 2026-04-21 Listed $250,000 NTREIS
• 2025-07-09 Listing Removed — NTREIS
• 2025-06-25 Price Changed $280,000 NTREIS
• 2025-05-28 Price Changed $300,000 NTREIS
• 2025-04-28 Price Changed $320,000 NTREIS
• 2025-04-15 Price Changed $340,000 NTREIS
• 2025-02-28 Listed $350,000 NTREIS
• 2023-07-25 Sold (Public Records) — Public Records
• 2022-08-23 Sold (Public Records) — Public Records
• 2002-02-27 Sold (Public Records) — Public Records

Property tax history

+11.5%/yr

Latest (2025): $5,478 · +12.4% YoY. Source: county tax records.